EURUSD

I need to manage it at present, will explain shortly.

Live.

Good Trading.

Yesss, I've had the same trade open for hours.

I pull up some 24 episodes on my other screen to relieve the bordom

Cat's away {Big Dogs}. Mice stealing cheese from peers One Crumb at a time.

+3 Pips on my Last Trade & THAT was with 3 Lots.

~12 Hrs 'till "Normal Service Resumes".

thank you for the response..careful of these big moves while you are managing this trade, concentration is very important in trading

Freakin A... ((Ok now that's out of my system..))

Well, I have R1 somewhere up near the moon at 2930. I had to compress my chart a couple times to find it tho...

I am so bored, I've been reading the forum posts, doing my Taxes and trading,, either I'm extremely bored or I really like living on the edge, so leave ak4a alone before I make a mistake and really screw up something bigtime.
lindee

http://www.fxpivot-points.com/pivot_...calculator/02/

http://www.fxpivot-points.com/?page=4

See I screw'd up I meant ak4x. Sorry.

if you're listening to me today, you've already screwed up.

there is none, grab a calculator and do the math manually

We may have to adjourn to the pub early today...

Sorry, the inserted text was a mistake, I edited the post to links only.

good trading, nearest target 1.2610

This is an area I'm expecting it to go down. My entry was from the 5min chart.

I was watching how price was reacting around the 16:30GMT 5min bar, when I eventually got a bar that closed at or below 1.2769 I regarded this as a sell opportunity. If it runs OK, if it don't I won't loose too much.

Regards & Good Trading.

Aspiring traders often tell us that they have difficulty staying with their trading plan. There are many possible reasons this happens. Usually it's because of not having a clearly defined plan. When a trading plan is not clearly defined, it is hard to follow and easy to abandon.
Often we see traders whose do have a trading plan, but the one they have is much too complicated.

When you trade in an ad hoc way, even just a little bit that way, you can panic at the wrong moment. You may find yourself over-thinking your plan, or you may become easily absorbed with self-doubt. By contrast, when you clearly define a trading plan, you can implement it almost automatically. You can enter and exit with less effort. Many aspiring traders say, however, that even when they painstakingly delineate a trading plan, they still have difficulty following it. Depending on your personality, you may or may not have difficulty maintaining control and discipline.
Often, traders who are usually controlled and disciplined in other areas of their life, tend to have trouble sticking with trading plans. Disciplined people are rule followers, and research studies have shown that rule followers prefer certainty. However, anyone who has traded the markets for a few months soon realizes that the markets are not certain, and conventional wisdom is not consistently valid. It is true only when it is true, and the rest of the time it is wrong. I've said many times that in the market, two and two are just as easily twenty-two as they are four.
As it turns out, people who are more impulsive in everyday life have less difficulty following a trading plan. They view trading as fun and excitement, and they enjoy risk. These kinds of people truly don't care what happens. They have a natural, carefree attitude when it comes to trading. They can easily think, "Why not follow a plan? It doesn't matter if it goes awry." This kind of thinking is useful for a trader.
Most traders, however, have trouble approaching trading with a carefree attitude. For example, they may see the price rise initially. But then it stalls before reaching the predefined exit point. They instinctively think, "How much longer can it go up? They are skeptical. They think to themselves, "There aren't enough buyers. I can't wait. I've got to sell and lock in my profits right now." When they get to that point, they start thinking, "Don't be greedy. How can it be a bad thing to get out early and get a profit?" At that point, it's hard to stay in the trade. But it is vital for economic success to stick with the plan. Unless the plan calls for early exit, stay in! It is a matter of simple arithmetic. Although there may be several profitable trade setups out there, finding one is relatively rare. You'll see many more setups that don't pan out than actually do. When you hit upon one, you must capitalize on it, and optimize your profits, getting as much out of the trade as practical, while at the same time avoiding taking a loss on a trade that has been a winner. Otherwise, in the long run, your winners won't balance out your losers.
If you are a natural born risk taker, sticking with your plan is less difficult. Risk takers get a rush from the trade, and can't wait to see what happens. The psychological rush is more enjoyable, in some ways, than the outcome. Most people, however, are naturally worried about the outcome of their trades, and a little cautious voice nags them to get out of a trade before it comes to fruition.

How do you quiet the voice of caution? It's difficult. Some traders have suggested trading while tired or dazed, so that only a fixed amount of energy is left to both focus on the cautious voice and trading, so in the end you just automatically trade the plan. The idea is to lower your inhibitions so that you just follow the plan without thinking. It's the right idea, but it is hard to implement.

Some people might be able to trade while tired and dazed, but it is more likely that such a strategy will produce impulsive decisions in most people. It is probably wiser to be rested so that you can concentrate and quiet the little voice that nags you to get out of a trade too soon. The way I like to do it is to have a strategy that allows me to win by getting out "too soon." By coming up with high percentage setups, I find that I can plan to get out quickly and still make money.
Perhaps the best thing you can do is to manage risk. If the outcome of the trade truly doesn't matter, then you won't worry as much and can stick with your trading plan. Once you are rested, can concentrate, and you have relatively little to lose, you can try to cultivate the proper mindset of the winning trader.

Winning traders view trading as a fun business, much like how a person plays the card game of bridge. Bridge players are serious, yet they enjoy the game. They think, "I'm just having fun." Winning traders look at a trade and think, "I want to see if it reaches the exit point or not. It is more important to find out than anything else." They enjoy the trading. They are a student of the markets. The learning experience is more important than the outcome. Winning traders are not only players of the "game," but observers. They know how to look at the market action, even while in it, objectively, and it is more important to see what happens and gain experience than merely win. If you can cultivate such an attitude, you'll be able to follow your trading plan, and silence the voice of self-doubt that often thwarts your trading efforts.

Excellent read, Tmac. As a forex newbie, I find your note an accurate reflection of my first couple of months of trading. I now trade according to my 'plan' based on news and fundamentals (not necessarily technicals), but I will still from time to time, trade on a hunch..in and out real quick.

Thanx again.

MM gives you this and trading without emotion does make forex fun, win or lose

I can trade LT ST or MT but prefer to scalp, it works in all markets minimizes risk and its fun

Here's another story that should keep those hairs on the back of your neck tingling --

http://www.telegraph.co.uk/finance/c...-meltdown.html

Is it just me, or does anyone else feel like the best thing to do now is to crawl into bed, pull the covers over one's eyes, and say "Mommy - wake me up when all the bad things stop"?

Amazing the monies getting flushed down the toilet --

That does it!! I'm heading to the Pub. ((My new desktop pic))