EURUSD | Page 3342 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD, GBP/USD, USD/CHF

Similar Threads

MT4: how to change "EURUSD" to "#EURUSD"? 3 replies

Re: EurUsd short term 15 replies

did oanda just drop its spread for eurusd to 1 pip? 11 replies

EA for multiple lot limit order for EURUSD 0 replies

NFP nice bump up on EURUSD 2 replies

Attachments: EURUSD
Exit Attachments

EURUSD

  • #66,821
  • Feb 19, 2009 6:23pm Feb 19, 2009 6:23pm
Quoting BoredToLoose
....why is that guy so sure the price will drop further and why is he saying 1.2694 is protected for now!!

Answer:

I Like the PA, I like the stop levels at 1.2759/1.2722 and now 1.2694.
I like my symmetric channel and I want to see a line retest at 1.2633.
If price do not reach 1.2633 before a 1.2694 break, I will close some of my shorts!!


All this can change if 1.2694 do not hold and if Ichimoku rule, at least my rule will be broken!!
i do not know whether this is right or wrong. IMO the price is waving just to trigger stops either below or above the daily trendlines. It is possible that the daily trend is determinated by fundamentals, but everything else is just hitting stops up or down. Thats all about PA in my view. In the moment everybody thinks down, so the stops must be above.
/ ... clarifying decisions ... /
  • #66,822
  • Feb 19, 2009 6:26pm Feb 19, 2009 6:26pm
Quoting walb99
Thanks.

The green one looks like the 120 LWMA is this correct?
89 SMA.
  • #66,823
  • Feb 19, 2009 6:26pm Feb 19, 2009 6:26pm
Re: Perhaps this should be in another thread with far fewer readers.

Please do post this in another thread, your input and experience is pure gold my friend.

Trading Psychology is a bit like quitting smoking. The smoker (beast) inside of you never dies, he only lays dormant. You have to learn how to subdue the beast when he awakes <--- The key to quitting.

A similar type of beast lives inside your head with trading (call it emotion, call it what you will). You cannot kill him, you can only subdue him and put him back to sleep. When he awakes, you have to know how to put him back to sleep or you're in a lot of trouble, well your account balance is in a lot of trouble.

As with both above, it is a never ending battle. BUT, you can learn how to deal with them and become accustom to it over time. Once you have learned how to control him {the beat, urge, whatever you want to call it}, it does become a lot easier.

Confidence IS a good thing. Without it, the beast I mentioned earlier will never be subdued. Too much of it however can of course be detrimental.

Accepting when you are wrong AND knowing how to deal with it is all part of the game. What helped me was some advice from DRT, let the charts prove you wrong. Don't panic when you see a move against you. Plan your trade and trade your plan. That includes knowing exactly where the price has to go before it has proved you wrong. Accept the loss and that you were wrong and MOVE ON. Reflection is of course a good thing, dwelling is most definitely not.

All I ask of you Bemac, is to be careful when you mention that you made X amount trading against the immediate trend. You have so much more experience than 99% of people here (myself included), it may be giving them the wrong impression and a false sense of hope.

If any of you really want to learn how to scalp effectively. Learn it from a Master. Anybody who spends time in the Auslanco thread would know lilmoe. This dude IS the Weather Man, he is freak (I don't mean this in a derogatory manner either) and he has proved his worth by posting his amazingly consistent calls before the fact. He is also a very generous lad as he shares his system here on FF.
  • #66,824
  • Feb 19, 2009 6:27pm Feb 19, 2009 6:27pm
Quoting walb99
i do not know whether this is right or wrong. IMO the price is waving just to trigger stops either below or above the daily trendlines. It is possible that the daily trend is determinated by fundamentals, but everything else is just hitting stops up or down. Thats all about PA in my view. In the moment everybody thinks down, so the stops must be above.
What Daily TL are you talking about?
  • #66,825
  • Feb 19, 2009 6:34pm Feb 19, 2009 6:34pm
Quoting NuckingFuts
Accept the loss and that you were wrong and MOVE ON. Reflection is of course a good thing, dwelling is most definitely not.
No truer words have ever been spoken. Trading is an extremely humbling experience but it also builds character...

You are humbled by its power over you and your account, but the character it builds tells you to get back up and try again...NEVER quit.
  • #66,826
  • Feb 19, 2009 6:36pm Feb 19, 2009 6:36pm
Quoting BoredToLoose
What Daily TL are you talking about?
Most traders use the 200 EMA or 200 SMA on the hourly.
I like the LWMA (240,480,720)
/ ... clarifying decisions ... /
  • #66,827
  • Feb 19, 2009 6:36pm Feb 19, 2009 6:36pm
Quoting walb99
i do not know whether this is right or wrong. IMO the price is waving just to trigger stops either below or above the daily trendlines. It is possible that the daily trend is determinated by fundamentals, but everything else is just hitting stops up or down. Thats all about PA in my view. In the moment everybody thinks down, so the stops must be above.
I see current PA as neutral, indecision. It's coin toss as to which way it will go. Some may have better luck at the track. Scalp the lower time frames if you must and wait for a break on the higher frames.

4hr is now building a bull flag. Not saying up, nor down, just stating what I see in black and white.
  • #66,828
  • Feb 19, 2009 6:39pm Feb 19, 2009 6:39pm


1.2627!!!
  • #66,829
  • Feb 19, 2009 6:40pm Feb 19, 2009 6:40pm
Quoting bgin2end
...You are humbled by its power over you and your account, but the character it builds tells you to get back up and try again...NEVER quit.
How right you are bud.

Quitters never win and winners never quit. Age old saying but true in every aspect of life.
  • #66,830
  • Feb 19, 2009 6:42pm Feb 19, 2009 6:42pm
below 26500
  • #66,831
  • Feb 19, 2009 6:42pm Feb 19, 2009 6:42pm
Pivots for today from 5pm
Attached Image
FUBAR...
  • #66,832
  • Feb 19, 2009 6:49pm Feb 19, 2009 6:49pm
Quoting Bemac
Trader Psychology disseminated.

If you have been Trading for >= a year or so, then you have read some stuff on this Topic.

If the above Fits you & you think that, given another 5 years or so, you will have it beat...
Sorry but I have some Bad News.

Trading Psychology is a Never Ending Battle.

Let's call it something else. Let's call it Trader Confidence.

Trader Confidence is, by far, the Ultimate Hurdle in Your Career. No matter how far into that career you have ventured.

Confidence That:
You are Correct on your Call.
If Not, Your Odds Advance...
I have read many good posts over the past days but this is the best one I've seen in weeks. Bar none.
Not all sins are created equal
  • #66,833
  • Feb 19, 2009 6:50pm Feb 19, 2009 6:50pm
Hit my line!!

Now I must see next PA!!!

Is this Luck people?

A Lot of hours dedicated to this!!!

And I am Humble, I want to say this to all!

I am not competing here, Just helping!!

Good Night all, and do not long this, it is my advice, I need to see very important next 8 Hours!!
  • #66,834
  • Feb 19, 2009 6:54pm Feb 19, 2009 6:54pm
Commodities, Commodities, Commodities.
  • #66,835
  • Feb 19, 2009 7:03pm Feb 19, 2009 7:03pm
Quoting NuckingFuts
Re: Perhaps this should be in another thread with far fewer readers.


A similar type of beast lives inside your head with trading (call it emotion, call it what you will). You cannot kill him, you can only subdue him and put him back to sleep. When he awakes, you have to know how to put him back to sleep or you're in a lot of trouble, well your account balance is in a lot of trouble.
Great post. However I don't think we are supposed to kill this beast unless you mean FEAR. I think little nervousness is OK so that we [traers] stay alert. And somtimes nervesouness works as a warning that someting is wrong with the trading plan, then you go back to reevaluate your plan. I think trading is similar to delivering speeches, no matter how much experience you have, you still feel nervous. Killing this beast means turning people into robots trading mechanically witout feelings.
Thanks.
  • #66,836
  • Feb 19, 2009 7:08pm Feb 19, 2009 7:08pm
I buy at 1.2637
  • #66,837
  • Feb 19, 2009 7:16pm Feb 19, 2009 7:16pm
Nice turns at the QP's (Aqua lines) so far this evening. (The upper one at 94 is actually 93.5, i rounded up to the even number, according to the mood I'm in)
Attached Image
FUBAR...
  • #66,838
  • Feb 19, 2009 7:17pm Feb 19, 2009 7:17pm
Quoting walb99
Most traders use the 200 EMA or 200 SMA on the hourly.
I like the LWMA (240,480,720)

I have ema in my charts, but I do not read them.

I use some times at higher TF to confirm Trend!!
By the way people, see Ema365 at weekly, now read the Weekly PA and RSI10.
Open your Eyes!!!!

By the way, this PA will kill longs, so stay out!!
  • #66,839
  • Feb 19, 2009 7:42pm Feb 19, 2009 7:42pm
This is starting to be very nice set up!!

Too many time yet to actual H4 close and price here already.

I see 1.2566 next move.

If we see this H4 closing below 1.2600.
  • #66,840
  • Feb 19, 2009 7:46pm Feb 19, 2009 7:46pm
boredtolose -

I like your signature...I think I'll change mine to

:Fed - the art of printing money:

I think we'll settle for the night around 2600 and then move close to 2500 or 2550 throughout tomorrow...
517 traders viewing now