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  • #69,821
  • Feb 27, 2009 7:59am Feb 27, 2009 7:59am
Quoting FxCba
No, man. It's not my intention to be ironic
Just trying to understand the meaning
I meant he was being sarcastic, not you
  • #69,822
  • Feb 27, 2009 8:01am Feb 27, 2009 8:01am
Quoting traderathome
that is only a small part of the account....i.e., no where near forced liquidation.
I am assuming you mean getting a margin call? The way I trade, I only risk AT MOST 2.5 - 3% of my account. This makes it impossible to ever get a margin call, I've been there and done that and will never ever go there again.

I agree with the building a position idea as a way to get your money in at the best averaged price possible - this is a good strategy, especially if you are unsure about short term price action but are certain about the longer term.
  • #69,823
  • Edited 8:02am Feb 27, 2009 8:02am | Edited 8:02am
Quoting FxCba
No, man. It's not my intention to be ironic
Just trying to understand the meaning
why you are trying to be iroinc ?
bcs, i am from africa ?
you white man are all the same,
but now WE have the president of USA.
  • #69,824
  • Feb 27, 2009 8:04am Feb 27, 2009 8:04am
Quoting arthurb
but now WE have the president of USA.

true bro, true.....
  • #69,825
  • Feb 27, 2009 8:05am Feb 27, 2009 8:05am
What are you guys predictions?

me is south from here, just broke thru trendline on 1hr that was bottom of sym triangle.
  • #69,826
  • Feb 27, 2009 8:05am Feb 27, 2009 8:05am
Quoting arthurb
why you are trying to be iroinc ?
bcs, i am from africa ?
you white man are all the same,
but now we have the president of USA.
Ok ok, no need to be racist...lets just get back to trading.

FOREX is a market that transcends race creed religion and age - no need for anyone to say that they are better or worse than anyone else. The e/u doesn't care about your poverty or wealth level, it'll take your money the same as it'll take mine...

No pitty parties, no pats on the back - lets just talk about trading before people start pressing that ignore button on you.
  • #69,827
  • Feb 27, 2009 8:07am Feb 27, 2009 8:07am
...and Stop Losses are for sissies! SISSIES!!!
  • #69,828
  • Feb 27, 2009 8:07am Feb 27, 2009 8:07am
Quoting bgin2end
I am assuming you mean getting a margin call? The way I trade, I only risk AT MOST 2.5 - 3% of my account. This makes it impossible to ever get a margin call, I've been there and done that and will never ever go there again.

I agree with the building a position idea as a way to get your money in at the best averaged price possible - this is a good strategy, especially if you are unsure about short term price action but are certain about the longer term.
AMEN!
  • #69,829
  • Feb 27, 2009 8:10am Feb 27, 2009 8:10am
Dow looking to open at or below 7 which would open the flood gates. First time since may of 1997. Monday would probably not look any prettier. This is no place for longs IMHO.
  • #69,830
  • Feb 27, 2009 8:16am Feb 27, 2009 8:16am
Looks like 2602 resistance work again, well it works everytime. I closed my short and made little scalp on long but i think its no more for this week.
It might go down more from this point but there is some resistance and its friday.

My scenario including going down and bouncing back to ~2670 was corect now we can see move up again or like i said go down to ~2520 area and after that we can start forming second "W" leg going up. Time will tell.

Good luck to you guys.
  • #69,831
  • Feb 27, 2009 8:17am Feb 27, 2009 8:17am
Ok, time to stop trading. My today's trades (in pips):

1. +66
2. -20
3. +24

See ya all in monday.

And don't forget to get drunk in the evening!
  • #69,832
  • Feb 27, 2009 8:23am Feb 27, 2009 8:23am
Quoting T.E.Lawrence
Ok, time to stop trading.

See ya all in monday.

And don't forget to get drunk in the evening!
Agree, Agree
some caipirinha for start
  • #69,833
  • Feb 27, 2009 8:29am Feb 27, 2009 8:29am
Quoting FxCba
No, man. It's not my intention to be ironic
Just trying to understand the meaning
There is no need to be ironic because he is black. He is no better or worse than you or me because of that fact. We are all equal in that respect. Please can we now go back to forex and leave racist views outside the doors of this forum.
  • #69,834
  • Feb 27, 2009 8:30am Feb 27, 2009 8:30am
Quoting traderathome
I am using this whipsawing down to add to my longs.

IMHO, one must either use tight SLs......get taken out early....but then buy back near the "end" of the whipsaw. But this frequently causes one to get stopped out when there is no deep whipsaw to take advantage of. Another method....

Let it run against the trade (no SL except mental) and add at intervals during the whipsaw. When it reverses again, you breakeven below initial entry and have nice profit at original entry, and exceptional profit when the real run takes off. However, to do this...
Here is a chart showing my EJ trade which started during the first dip of this session. I believed it would then move higher, but one can NEVER know for sure. As the professional traders manipulated it up and down with some major whipsaws down, I added. There are 9 components now in this trade, each being very small. The PA dumped about 200 pips so far during this trade, and even if all of my components were down 200 pips, I would not be overleveraged. As it stands, when the PA is again around 123.30 I will be without loss. At my original entry I will have nice profit. If it runs up from there, I will have very nice profit.

I will use the Fibonacci Retracement tool and BB extensions to predetermine the possible extent of a run against my trade, to size up just how damaging it could get to my position, and to gauge where to add. I try not to add within 20 pips of entry or of a previous addition, however, and this helps me to not get in too deep too soon.
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  • #69,835
  • Feb 27, 2009 8:37am Feb 27, 2009 8:37am
Quoting gammase1
There is no need to be ironic because he is black. He is no better or worse than you or me because of that fact. We are all equal in that respect. Please can we now go back to forex and leave racist views outside the doors of this forum.
You got a wrong reading of the entire situation.
Please read again, I never wrote a single racist meaning word
  • #69,836
  • Feb 27, 2009 8:42am Feb 27, 2009 8:42am
man some of these stock sellers wont give up..at todays average.. with an average gain of 7% per year.. in 2020 you stocks will be valued at 2008 prices...
those who can, do. those who cant, talk about those who can
  • #69,837
  • Feb 27, 2009 8:44am Feb 27, 2009 8:44am
Quoting gatorinla
man some of these stock sellers wont give up..at todays average.. with an average gain of 7% per year.. in 2020 you stocks will be valued at 2008 prices...
And this is why I trade FOREX...
  • #69,838
  • Feb 27, 2009 8:45am Feb 27, 2009 8:45am
Markets in freefall mode, S&P hit 734.xx so far. I hope people finally let go and sell out their portfolios. Better than struggling in a bear market for years I suppose. Eur holding the .26 quite convincingly, scalpers holding out for .265 i guess (now I said it it will fall ) I don't see any good spot for longs until the last bottom honestly.
  • #69,839
  • Feb 27, 2009 8:46am Feb 27, 2009 8:46am
Quoting FxCba
Sorry for my ignorance, but Egypt, South Africa, Kenya, etc... are ... what?
He may be refering to an ancient african map that is still waiting some of the names you mentioned to show up.
The Thief of Wall Street
  • #69,840
  • Feb 27, 2009 8:48am Feb 27, 2009 8:48am
Quoting Chicky
Sorry, I forgot while posting that there are short to long term traders here. I am just an opportunist, and therefore look around for opportunities in all time frames from 5m to weekly.
those horizine lines working eh??
those who can, do. those who cant, talk about those who can
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