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EURUSD

  • #73,701
  • Mar 10, 2009 8:22pm Mar 10, 2009 8:22pm
Divergence almost always comes thru.

J


Quoting donutman_111
We may be heading back dow to at least the last low.

J
  • #73,702
  • Mar 10, 2009 8:27pm Mar 10, 2009 8:27pm
the market has retraced 50% of the fall Seller at 1.2710 and above
  • #73,703
  • Mar 10, 2009 9:26pm Mar 10, 2009 9:26pm
Quoting gatorinla
you got the a bigger trendline then me..
it's been buggin me that I thought I had posted a better answer recently to your original question earlier about thoughts on S/R levels..

I had posted one yesterday morning on the other thread and forgot about it. I think this one is a better reply than the one i posted a couple hours ago to you.

It's a monthly, but also the reason I'm not real excited yet... I mentioned 2870 in there as a tripwire, thought we might be heading there earlier today, now not so sure. Anyway, it's a free read.

http://www.forexfactory.com/showthread.php?t=154341
FUBAR...
  • #73,704
  • Mar 10, 2009 9:46pm Mar 10, 2009 9:46pm
After a very careful analysis, I am of the opinion that after going sideways for a while, it will either go up or down

My two cents .
The Thief of Wall Street
  • #73,705
  • Mar 10, 2009 9:48pm Mar 10, 2009 9:48pm
Quoting Chicky
After a very careful analysis, I am of the opinion that after going sideways for a while, it will either go up or down

My two cents .
Great prediction!

I also predicted that there will be weather outside tomorrow
Not all sins are created equal
  • #73,706
  • Mar 10, 2009 9:50pm Mar 10, 2009 9:50pm
Quoting Jay Walker
Great prediction!

I also predicted that there will be weather outside tomorrow
Great minds ........
The Thief of Wall Street
  • #73,707
  • Mar 10, 2009 9:53pm Mar 10, 2009 9:53pm
I'm long on a scalp, hoping for 2715....

  • #73,708
  • Mar 10, 2009 9:58pm Mar 10, 2009 9:58pm
Quoting jgospoda
I'm long on a scalp, hoping for 2715....

Though not a scapler, just curious what is the average duration of a scalping trade?
The Thief of Wall Street
  • #73,709
  • Mar 10, 2009 10:00pm Mar 10, 2009 10:00pm
With this slow stuff it takes a bit, but usually 1-5 minutes for my tastes. Best wishes!
  • #73,710
  • Mar 10, 2009 10:01pm Mar 10, 2009 10:01pm
Quoting Chicky
Though not a scapler, just curious what is the average duration of a scalping trade?
I've held scalps for 20 seconds before, and then I've had scalps turn into intraday trades and leave them open for hours. So, I didn't answer your question.
  • #73,711
  • Mar 10, 2009 10:03pm Mar 10, 2009 10:03pm
Quoting jgospoda
With this slow stuff it takes a bit, but usually 1-5 minutes for my tastes. Best wishes!
Thanks. Will try scalping some day. Amazing turnover.
The Thief of Wall Street
  • #73,712
  • Mar 10, 2009 10:10pm Mar 10, 2009 10:10pm
http://i157.photobucket.com/albums/t...tire/5min1.gif

break above the downtrend line I go long.
  • #73,713
  • Mar 10, 2009 10:19pm Mar 10, 2009 10:19pm
Quoting Chicky
Thanks. Will try scalping some day. Amazing turnover.

Turnover is indeed amazing in scalping. I stopped counting the people that were dedicated scalpers that have come and gone.
Not all sins are created equal
  • #73,714
  • Mar 10, 2009 10:22pm Mar 10, 2009 10:22pm
Quoting Jay Walker
Turnover is indeed amazing in scalping. I stopped counting the people that were dedicated scalpers that have come and gone.
I forget what your long trigger was but did you go long? Were you stopped out?
  • #73,715
  • Mar 10, 2009 10:28pm Mar 10, 2009 10:28pm
Quoting Jay Walker
Turnover is indeed amazing in scalping. I stopped counting the people that were dedicated scalpers that have come and gone.
One couldn't agree more. That some day may never come for me. Initial R/R below 5 is simply unacceptable for my kind of trading. Though after a few tries it goes as low as 1:1 some times.
The Thief of Wall Street
  • #73,716
  • Mar 10, 2009 10:29pm Mar 10, 2009 10:29pm
Quoting Jay Walker
Turnover is indeed amazing in scalping. I stopped counting the people that were dedicated scalpers that have come and gone.
I agree, if that is all you do. I think even scalpers need much patience to find their trades. And usually the scalpers are the ones who don't have as much patience, hence their downfall, as well as the 2-3 pip spread, which is hard to make up over very small trades. Anyway, I do a decent job scalping, but I have more success because I try to turn some of my scalps into intradays, when the opportunity is there. It's amazing how 100 pip trades can make up for 10 bad trades where you lost 40 pips. Anyway, I'm sure I'll get better at it, and I'm also sure that the people who are really dedicated and patient to learn forex and discipline, can be successful, and it really is like most things. Most people don't want to put in the hard work to be successful.
  • #73,717
  • Mar 10, 2009 10:35pm Mar 10, 2009 10:35pm
Quoting Levent
Did he mean blowing up a few accounts or just having some losing trades ?

There is a world of difference between the two.

I probably read his entire post and admire him a lot..
Levent,

I can assure you that I have never blown up an account !!! I have never even been remotely close.

You need to read this:
http://www.forexfactory.com/showpost...4&postcount=85

Never had a margin call either. (A margin call shows a trader that he is being insane on his money management and has poor trading skills...the next step is account closure)


.
Jacko
  • #73,718
  • Mar 10, 2009 10:37pm Mar 10, 2009 10:37pm
Woah. Lunch time dive dudes. EU just drop 50pips against USD.
  • #73,719
  • Mar 10, 2009 10:37pm Mar 10, 2009 10:37pm
what the heck just happened to the eurusd?
  • #73,720
  • Mar 10, 2009 10:41pm Mar 10, 2009 10:41pm
Quoting weswes
http://i157.photobucket.com/albums/t...tire/5min1.gif

break above the downtrend line I go long.
Went long, moved SL to BE when I didnt like the PA. Stopped out at BE. Went Short at avg 2863.
Will take profit at 2625 unless PA just FLYS through it..Hit resistance there and I will TP. Break of that trendline and I will again go short.
Update: moved Stop Loss to BE. This PA is too eratic to go about risking anything for my tastes. I'll take a free ride down though
http://i157.photobucket.com/albums/t...tire/5min2.gif
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