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  • #64,581
  • Feb 12, 2009 1:32pm Feb 12, 2009 1:32pm
Quoting TheWalrus
Everyone trades differently. I don't use stop and entry points and pivot tables. I use daily trends, expectations, human behavior, and elasticity.
You're right on the fact, that we trade differently. But if You trade trends (TA), stops should be well known before, which leads us to the understanding, that leverage comes second.
If your trading desicions are based on Fundamental Analysis, not on TA, then you can't have stop level at the time you enter the trade, so you're alowed to estimate your leverage on some emotional basis.
Berbo count: 12 We'll Keep the Red Flags Flying High
  • #64,582
  • Feb 12, 2009 1:39pm Feb 12, 2009 1:39pm
fibo/1.28 retest underway
she is gonna hold imo
  • #64,583
  • Feb 12, 2009 1:41pm Feb 12, 2009 1:41pm
Quoting TheWalrus
Exactly. Not too hard to understand in my opinion, maybe I worded it poorly. I think risk vs. reward plays a factor in any market that's not a guarantee. Unless you are right 100% of the time using your entry and exit points, manutd, relying on fundamentals or strict principles like that is unnecessary and kind of stupid.
I trade trends. But I don't determine where my stops will be until I see clear support and resistance levels. Then I make a decision, also taking in account what news is on the horizon, and what a couple of other pairs are doing to determine authenticity of the move. although I do not base my leverage on that info, it does help me to determine how many contracts that I will take out. In the sense still determining how much of my account Margin I will use.

No, your wording was quite clear.

One side note. I don't know if I can agree with I forget his name, in regards to stops being known before hand, But I go into trade knowing how much I'm willing to loose, and adjust the figures accordingly.
  • #64,584
  • Feb 12, 2009 1:41pm Feb 12, 2009 1:41pm
Quoting ManUtd
You're right on the fact, that we trade differently. But if You trade trends (TA), stops should be well known before, which leads us to the understanding, that leverage comes second.
Who said my stops were not well known before hand? If I enter into a 100:1 trade I'm not going to allow a 200 pip loss. I said I allow lower leveraged trades to move more. aka my stop might be for more pips, as will my limits. The point being that I can tolerate smaller leveraged trades bouncing around more.

I do constantly reevaluate my positions by cross-referencing other currencies, news, etc

Investors don't trade and hold, they trade and do their homework. As fast moving as this market is, I still wind up changing my stops and limits around mid-trades, many times it pays off. Sometimes it does not. Oh well!
  • #64,585
  • Feb 12, 2009 1:41pm Feb 12, 2009 1:41pm
Quoting nvcK
fibo/1.28 retest underway
she is gonna hold imo

Yup!

Pretty tight channel it looks now, 1.2800 Low; 1.2845 high.
Traders are smartasses
  • #64,586
  • Feb 12, 2009 1:42pm Feb 12, 2009 1:42pm
I recommend reading the news plus studying the charts.
Actually,
US stocks r fallin down INDU -200
Crude oil is fallin by 4%

EUR / USD must fall a bit for now

I'm just watchin

Cheerz
  • #64,587
  • Feb 12, 2009 1:44pm Feb 12, 2009 1:44pm
Euro will catch up sooner or later.
  • #64,588
  • Feb 12, 2009 1:46pm Feb 12, 2009 1:46pm
Some of that usd/chf momentum I mentioned earlier.
  • #64,589
  • Feb 12, 2009 1:48pm Feb 12, 2009 1:48pm
Quoting TheWalrus
Investors don't trade and hold, they trade and do their homework.
Actually they do their homework and then trade. In other words:
It's prudent to wait and trade, rather than trade and wait.
Berbo count: 12 We'll Keep the Red Flags Flying High
  • #64,590
  • Feb 12, 2009 1:48pm Feb 12, 2009 1:48pm
Quoting gatorinla
nice decending wedge but you also have to take into acount its almost sitting on the bottom of a long term trend that could make it irevelant..
True. those levels are kept in mind
"Simplicity is the ultimate sophistication" leonardo da vinci
  • #64,591
  • Feb 12, 2009 1:49pm Feb 12, 2009 1:49pm
I am enjoying the dive! Locked in at profit, hoping trailing stop keeps moving if it dives some more, instead of this thing bouncing back a bit and hitting the stop/loss too soon.
  • #64,592
  • Feb 12, 2009 1:50pm Feb 12, 2009 1:50pm
i sell again
possible diagonal triangle formation

http://fx-trade.ucoz.ru/wave/eh1.gif
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  • #64,593
  • Feb 12, 2009 1:51pm Feb 12, 2009 1:51pm
If this level holds as support, so much for the eu head and shoulder patterns.
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  • #64,594
  • Feb 12, 2009 1:51pm Feb 12, 2009 1:51pm
Quoting ManUtd
Actually they do their homework and then trade. In other words:
It's prudent to wait and trade, rather than trade and wait.
Okay dude. Trade how you want. I don't need bold text and arguments, I'm on here to make money - which I am doing plenty of. If you want to "be right", go join a debate team. I'm not a moron - I know to do "my homework" beforehand, hence I told you I pay attention to trends, news, and expectations in the market. Stop being a dick and go trade like the rest of us.
  • #64,595
  • Feb 12, 2009 1:51pm Feb 12, 2009 1:51pm
oil below 34... lets c the close..
those who can, do. those who cant, talk about those who can
  • #64,596
  • Feb 12, 2009 1:52pm Feb 12, 2009 1:52pm
Quoting TheWalrus
Okay dude. Trade how you want. I don't need bold text and arguments, I'm on here to make money - which I am doing plenty of. If you want to "be right", go join a debate team. I'm not a moron - I know to do "my homework" beforehand, hence I told you I pay attention to trends, news, and expectations in the market. Stop being a dick and go trade like the rest of us.
Seems we have similar trading styles.
  • #64,597
  • Feb 12, 2009 1:52pm Feb 12, 2009 1:52pm
can we do sell or what any idea and till where
  • #64,598
  • Feb 12, 2009 1:52pm Feb 12, 2009 1:52pm
Quoting rody8808
Euro will catch up sooner or later.
Thinking something similar here as well. Started to fall now and seems that more short positions start to look safe. Lets see if we head down to 1.2700 by end of the day.
If it does its all going south!
  • #64,599
  • Feb 12, 2009 1:54pm Feb 12, 2009 1:54pm
The more shorts who pile on the sooner it will go up...

that's the way FX works. Max pain for the retail schmuck.

The range bound action tells me there is really little interest in REAL money for mergers, trade, investment, etc...this is all paper action.

Good luck...haven't touched the euro for a few days now, missed a nice rally off the lows...
  • #64,600
  • Feb 12, 2009 1:54pm Feb 12, 2009 1:54pm
watch s&p if it falls below 800 its on
those who can, do. those who cant, talk about those who can
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