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  • #68,381
  • Feb 24, 2009 4:17am Feb 24, 2009 4:17am
OK. TP at 2875 (comfortably before week highs where I see strong resistance) TS = 30, to lock in some profits in case reverses, as I'm off for lunch.
  • #68,382
  • Feb 24, 2009 4:22am Feb 24, 2009 4:22am
Quoting obeewon
going to bank at 2800 and re enter for t/p 2900
Obeewon, what re-entry level are you looking at?
  • #68,383
  • Feb 24, 2009 4:23am Feb 24, 2009 4:23am
Disappointing market guys. I will closing my buy and go have my dinner. Check back on US open. Was expecting something on EUR news while a go.

~Adios
Trade what you see. Write what you feel
  • #68,384
  • Feb 24, 2009 4:25am Feb 24, 2009 4:25am
Quoting gertl
Obeewon, what re-entry level are you looking at?
if u want to get in early now or @2800; want a little confirmation i would say 2810-2820... t/p 2900
  • #68,385
  • Feb 24, 2009 4:36am Feb 24, 2009 4:36am
Quoting H.r.m
dear traders,

I have a big problem! I worked on demo for 1 year and i was very good.
I have sent some post from yesterday to now that all of them were correct! about 250 pips!

But I cant do it on my real! fear, fear, fear ...

heyyyyyyy .........
I never promise anything to anyone that I can't produce, but
I'll PROMISE you this: If you are afraid of this thing, you won't make it.

What are you afraid of ?

You are going to lose money as well as make money and then lose and then earn
and again and again and at the end of the day, week, month, year, whatever,
you should have more (hopefully alot more) than you started with.
If you do, then you won, my friend. Do not be afraid to trade.

Me, I like sex. Sex is dangerous. It can kill you in alot of ways.
Still, I'm not afraid of it. I like it. Markets are extremely similar.
(especially the screwing part). Just don't be afraid of it.

If somehow you get this post confused with the two analogies, I'm afraid you might
wind up f*cking yourself while trading, and so I want to apologize in advance if it turns out this way.

I wish you luck in overcoming this obstacle.
  • #68,386
  • Feb 24, 2009 4:45am Feb 24, 2009 4:45am
order at 2810 for t/p of 2900
  • #68,387
  • Feb 24, 2009 4:48am Feb 24, 2009 4:48am
Quoting H.r.m
dear traders,

I have a big problem! I worked on demo for 1 year and i was very good.
I have sent some post from yesterday to now that all of them were correct! about 250 pips!

But I cant do it on my real! fear, fear, fear ...

heyyyyyyy .........
start with mini or micro with little money trade for another year, see how it goes.
  • #68,388
  • Feb 24, 2009 4:51am Feb 24, 2009 4:51am
damnn i close my long 2760, with $300 loss. entered long again @ 2795. Tp 2890 sl 2770
  • #68,389
  • Feb 24, 2009 4:51am Feb 24, 2009 4:51am
Quoting obeewon
order at 2810 for t/p of 2900
What do you think will happen at 2900?
  • #68,390
  • Feb 24, 2009 4:56am Feb 24, 2009 4:56am
Quoting lataliano
What do you think will happen at 2900?
euro will stall at this area (2900) and may retrace back as far as 2820-2855. my final t/p is 2996-3000 bu have to see what market says
  • #68,391
  • Feb 24, 2009 4:57am Feb 24, 2009 4:57am
Quoting bgin2end
I tried to be a scalper once, I got my a** handed to me three times (real money too so it hurt) but once I realized I was scalping b/c I like the rush and not b/c it was profitable I (my wife) decided to screw my head on straight. I found Jacko on here and have been very successful (knock on wood) since (recouping my loses) and now on my way to be full time in a year.

Scalping for most, at least in my opinion, is a rush and every once in a while I'll do it to get the blood pumping,...
Hi bgin2end

A friend of mine is an ex-broker and manager of large teams of brokers....He tells me that he has never seen a scalper last more than 12 months as a full-time trader...the pressure is too intense, you tend to overtrade and you very quickly stop seeing the forest for the trees and start jumping in and out of long and short trades with no strategy...in other words, you start "gambling".

You then also tend to start trading smaller and smaller time frames. Then you simply get blown away by the market.

.
Jacko
  • #68,392
  • Feb 24, 2009 4:59am Feb 24, 2009 4:59am
2844 20day sma also in the way; euro has to overcome (which i think it will) but another place to take profit and reload for move to 2900
  • #68,393
  • Feb 24, 2009 5:00am Feb 24, 2009 5:00am
Quoting obeewon
euro will stall at this area (2900) and may retrace back as far as 2820-2855. my final t/p is 2996-3000 bu have to see what market says
So maybe take half out at 2900 and then let 'em roll up to 3000 with SL at entry point (2770) or TS of 50ish?
  • #68,394
  • Feb 24, 2009 5:02am Feb 24, 2009 5:02am
wonder what people consider as scalping...?

what time frames ?
StopLoss is for none belivers... Trust the Gurus..
  • #68,395
  • Feb 24, 2009 5:04am Feb 24, 2009 5:04am
Quoting lataliano
So maybe take half out at 2900 and then let 'em roll up to 3000 with SL at entry point (2770) or TS of 50ish?
may be... trend so far has been that moves do not follow thru completely so i adjusted my strategy to take bank and re-enter or what u suggested... bottom line just dont give it back to markets... but we are on same page
  • #68,396
  • Feb 24, 2009 5:07am Feb 24, 2009 5:07am
Quoting jacko
Hi bgin2end

A friend of mine is an ex-broker and manager of large teams of brokers....He tells me that he has never seen a scalper last more than 12 months as a full-time trader...the pressure is too intense, you tend to overtrade and you very quickly stop seeing the forest for the trees and start jumping in and out of long and short trades with no strategy...in other words, you start "gambling".

You then also tend to start trading smaller and smaller time frames. Then you simply get blown away by the market.

.
Jacko
The market has been volatile in the extreme since August last year. Go and look at a weekly chart and see the HUGE change in the volatility.

The answer in these times is NOT to trade more.... It is simply to become much more selective on your trades.

We are currrently seeing brokerages openly admitting that the extreme volatility is taking out large numbers of accounts and they are losing even traders who have been with them for years. (In contrast, our group of traders have been counselled to be extremely cautious and be much more selective and are performing much better..our results are still strongly positive).

The brokerages are telling us that the huge majority of traders that are being killed by the volatility are scalpers.

When the axe gets blunt, you don't start furiously chopping at the tree harder...you stop and sharpen the axe !!!!
  • #68,397
  • Feb 24, 2009 5:10am Feb 24, 2009 5:10am
Quoting jacko
When the axe gets blunt, you don't start furiously chopping at the tree harder...you stop and sharpen the axe !!!!
Nicely said, I've just been chopping some firewood...with a sharp axe!

Tim
  • #68,398
  • Feb 24, 2009 5:13am Feb 24, 2009 5:13am
wonder what people consider as scalping...?

what time frames ?
StopLoss is for none belivers... Trust the Gurus..
  • #68,399
  • Feb 24, 2009 5:20am Feb 24, 2009 5:20am
walking away form the desk.... ny futures traaders may play around and pull euro back some... so i will tighten up stops.. if i get stoped out i will just re-enter
  • #68,400
  • Feb 24, 2009 5:23am Feb 24, 2009 5:23am
Quoting jacko
Hi bgin2end

A friend of mine is an ex-broker and manager of large teams of brokers....He tells me that he has never seen a scalper last more than 12 months as a full-time trader...the pressure is too intense, you tend to overtrade and you very quickly stop seeing the forest for the trees and start jumping in and out of long and short trades with no strategy...in other words, you start "gambling".

You then also tend to start trading smaller and smaller time frames. Then you simply get blown away by the market.

.
Jacko
Well said. Most newby traders start out scalping and get their arses torn off.
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