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  • #58,441
  • Jan 23, 2009 2:35am Jan 23, 2009 2:35am
morning guys. Shorted last night as posted from 1,2940 .. got out at 1,28 .. now looking for longs this baby is not going to come back to this low for some time now.
The Essentials of Trading: Emotions, Risk Mgt, Price.
  • #58,442
  • Jan 23, 2009 2:38am Jan 23, 2009 2:38am
Quoting cvcamper
No buy in at s2?
Quoting ak4x
Not trading rest of this week...
Watching is different from trading... when in a trade, I want to see certain things ((like why price CAN and MUST go my way!!)) and tend to see them more often than when NOT in a trade.

I decided this morning there were forces at work larger than me ((not really news)) and beyond my ken, so I stepped out for the day and did other things that needed doing. Will do it again tomorrow simply becuz it's a Friday in an extraordinary week.

If I'm not in synch with markets for whatever reason(s), it's silly to try to catch up. I'll slip out and reorient, return and engage again at an optimum time for me, not my borker... I've never lost a single pip yet by sitting in the stands... ((and cheering the home team on!))

Sometime when you're bored and not otherwise engaged with pip stalking, google "OODA loop".
FUBAR...
  • #58,443
  • Jan 23, 2009 2:40am Jan 23, 2009 2:40am
Quoting ak4x
Watching is different from trading... when in a trade, I want to see certain things ((like why price CAN and MUST go my way!!)) and tend to see them more often than when NOT in a trade.

I decided this morning there were forces at work larger than me ((not really news)) and beyond my ken, so I stepped out for the day and did other things that needed doing. Will do it again tomorrow simply becuz it's a Friday in an extraordinary week.

If I'm not in synch with markets for whatever reason(s), it's silly to try to catch up. I'll slip out and reorient,...
Excellent insight from a PROFESSIONAL trader.

  • #58,444
  • Jan 23, 2009 2:51am Jan 23, 2009 2:51am
Quoting ak4x
Watching is different from trading... when in a trade, I want to see certain things ((like why price CAN and MUST go my way!!)) and tend to see them more often than when NOT in a trade.

I decided this morning there were forces at work larger than me ((not really news)) and beyond my ken, so I stepped out for the day and did other things that needed doing. Will do it again tomorrow simply becuz it's a Friday in an extraordinary week.

If I'm not in synch with markets for whatever reason(s), it's silly to try to catch up. I'll slip out and...
Thank you for the advice! Im gonna close out my trade and go to bed. I look forward to learning all I can from you in the future. I am new here, but do you post what trades you are looking at in the future, so I can gauge my charts along with yours. Increase the learning curve and all
Dr. C
  • #58,445
  • Jan 23, 2009 3:00am Jan 23, 2009 3:00am
personally did pretty good tonight up 2% on one account and almost 5 on the other.. if nothing moves this hour im going to be.. i aint giving it back..
those who can, do. those who cant, talk about those who can
  • #58,446
  • Jan 23, 2009 3:08am Jan 23, 2009 3:08am
Quoting cvcamper
Im gonna close out my trade and go to bed... do you post what trades you are looking at in the future
To the first... Congratulations! Circle this day on a calendar ((if you even have one, i don't as that's what laptops are for, but my wife still swears by the things...)) as the day that you likely crossed a threshold of sorts and increased your chances of making it long term in this arena...

To wag the pips instead of the pips wagging you is "progress"

To the second, I'm more of an intraday short/mid term sort myself, but I usually start looking at the lay of the land a'rd 5pm to 7pm CST for the Asian session and on into Fo/Lo sessions and any posting of trades is subject to other factors... There's others here that have a longer term view and style that you'd do well to glean from tho...
FUBAR...
  • #58,447
  • Jan 23, 2009 3:16am Jan 23, 2009 3:16am
First of all, let me introduce myself, my name is Mike, I am 22 and I am from the Czech Republic. I have traded some demo forex in the past but lately I finally feel like I found my style so I decided to throw some real $$$ at it. Nice to meet you guys, some of you seem to really know whats up.

Talking positions now, I got in long at 2833 and 2817 and my SL went from 2799 to 2817 when market swung my way (Tokio traders aint gonna keep their shorts over the weekend right?). I aim somewhere towards 2880 but gonna just set a SL there, if we establish something resembling of a support at the weekly fibo line or even at 2900, € could aim 1,2970ish depending on the US stock market. EU data for this morning is good, no point blowing the 1,28 support right now.

My current opinion is that 1.3 is a status quo value for the pair right now and we are likely to see the market going sideways for a bit until the "Change" US president promised takes some realistic shape.
  • #58,448
  • Jan 23, 2009 3:20am Jan 23, 2009 3:20am
got some retail sales in 10 minutes for uk.. might move something.. gbp might be back at the woodshed.. may make other pairs move..
those who can, do. those who cant, talk about those who can
  • #58,449
  • Jan 23, 2009 3:23am Jan 23, 2009 3:23am
The [EUROZONE FLASH PMIs] for Jan came in slightly above f/c, largely reflecting earlier better results from France. The EMU manuf PMI rose to 34.5 from 33.9 in Dec (f/c 33.5), while the services balance edged higher to 42.5 from 42.1 (f/c 41.7). Manuf new orders improved slightly to (a still woeful) 28.9, from 26.4, while on the services side, business expectations rebounded to 47.5 from 42.3 - ECB rate cuts likely providing the boost here. All up, a slightly better set of numbers, although both measures remain close to record lows.
those who can, do. those who cant, talk about those who can
  • #58,450
  • Jan 23, 2009 3:47am Jan 23, 2009 3:47am
I find myself going short with the trend 80% of the time these days... but even though i got a signal to take a short.. feels like were pretty low now that we have made new lows for this year.. Glad i stayed flat for now.

Careful you guys that are trying to pick the bottom.. watch for reversal signals.. and for us to get above 21 MA on at least the 5M and better the 15 or 30M TF's

Or Gann Hi/Lo line if you use that indicator
  • #58,451
  • Jan 23, 2009 3:48am Jan 23, 2009 3:48am
Guess I was wrong, oh well thats what SLs are for. Going short at 2790.
  • #58,452
  • Jan 23, 2009 3:49am Jan 23, 2009 3:49am
Anyone think we have bottomed around about now?
Daily chart:
Attached Image (click to enlarge)
Click to Enlarge Name: 230109.JPG Size: 64 KB
  • #58,453
  • Jan 23, 2009 3:52am Jan 23, 2009 3:52am
Quoting nvcK
Guess I was wrong, oh well thats what SLs are for. Going short at 2790.
stand aside is also a valid trade
  • #58,454
  • Jan 23, 2009 3:55am Jan 23, 2009 3:55am
1.27709 - pivot .... this surely has to hold!?
  • #58,455
  • Jan 23, 2009 4:00am Jan 23, 2009 4:00am
Quoting andys0506
Anyone think we have bottomed around about now?
Daily chart:
I would think so.. the news releases were slightly positive.. so what argument supports the bears making further new lows? But as always anything can happen.. looking for a good long entry now.. but with S/L in place and a little more confirmation that we have bottomed
  • #58,456
  • Jan 23, 2009 4:06am Jan 23, 2009 4:06am
Whew - what a ride down. I'm looking for bottom now... closed out the shorts at 1.2775 to lock in the pips- was a good run. Not entering long just yet...
  • #58,457
  • Jan 23, 2009 4:08am Jan 23, 2009 4:08am
me too, im long looking for 2820 - 2840 range
  • #58,458
  • Jan 23, 2009 4:13am Jan 23, 2009 4:13am
Started long at 1.28025 - small position...
  • #58,459
  • Jan 23, 2009 4:37am Jan 23, 2009 4:37am
Quoting PipAir
Started long at 1.28025 - small position...
doing the same here... Long at 2790 +1 locked in now
  • #58,460
  • Jan 23, 2009 4:37am Jan 23, 2009 4:37am
Quoting PipAir
Started long at 1.28025 - small position...
Yup, it looks like it stabilized after the fall.
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