EURUSD

Dont you all just love trading forex.

I thought you'd never ask, but yes, I do love trading Forex

That all presupposes that any of Them can agree on anything, which is looking less likely rather than more... There is a shift taking place amongst nations imo, that reflects an increasing fracturing more than an anything approaching "unity".
It does not presuppose anything. 'What they want to do ' can be disagreeing too..

Whereas the eurozone countries have seemed to be losing their national "identities" at least in an economic sense in The Great Merge, some seem to be trying to regain and reassert it now, which raises intriguing questions for the whole zone.
The valuation of currency or devaluing it, is perceived to be a good strategy when somebody is buying.. when all the economies are tanking that argument holds no water.

Nearby neighbors like Switzerland, not bound by any of that, are acting with firmness in their own self interest, and apparently don't care who knows it.
Did anybody see the 500+ pip move on the EU CHF pair yesterday? Because they reduced the interest rate? The banks are also promising to keep less secrets from tax cheats..
http://abcnews.go.com/International/...ory?id=7020316
http://www.ft.com/cms/s/0/3386d3ac-0...0779fd2ac.html

In any event, before I digress too far afield, I think what we have there is a number of Great Minds in a Big Old House full of Contention, meeting to "lay the groundwork" for a meeting of even Greater Minds next month at the Summit who will probably manage to produce even More Contention...
Just two of us cant agree and it is true for many traders here and we expect two countries to agree?

You can count me in too
Except yesterday, I didn't trade at all. Just watched.
I don't like ranging markets

Edit, I mean this morning. Wow, how time flies.

I have been doing same thing in the past but it is not very efficient. I had a 2000 pip loss on GJ and came back in profit.

What I found out is that holding on to such a loss, even if you know you will be in profit again, it takes too much margin and reserve out of your regular account, and in the weeks you have to wait till you are in profit again, you will make less profit every week because you don't have the backing of you full account.

So I decided that at least for me it is not a very wise thing to do.

But I wish you luck.

Shamu

the fluency in this neighbourhood of the thougts and pre-dispositions of current global leaders. The fact that they are all having a party this weekend seems to have great relevence.

Not Till Monday...
If you are In a Trade, I hope you have a plan.

If Not, Trade the PA on Monday.

Not a knock or a slam; {there was a time that I paid 20 to 40 pips a month for one of the 4 Fundamental News Sources that I subscribed to. $1,200.00/M} Bunch of Cramers commenting & filtered ALL the Numbers out and shredded them through XL.
Now I feel it was a waste of time.
Reaction is key.
quoting Gus Hiddink..{yeah Chelsea, your starting to worry a Theater of Dreams guy}

There is not one 10 year Vet of Trading out there that is Crunching All the Numbers. A bunch, maybe, but he is looking to be home by 6 the same as you.
{sorry sweetheart, almost done, be right there.}
Gotta go...

Hi,

Its been sometimes ago when I last posted here..I can still see Mr.J Walker and cs still hogging this thread with their funny and sometimes not so funny sense of humor and jokes, (mabbe its a way to take out the frustration of failing to live up those 10v ultures thingy ??) I know its hard to be humble even if the house rules call for it.....

Anyway, for those who care to listen, the euro bulls have regain their advantage over bears since Mar 11...since its is also cherry blossom time, cherry picking at the bottom of 15min RSI will be highly profitable for this pair. 12650-12700 is a ultra safe SL zone and targetting a possible high of 13550 as its first line resistance.

GL to all and peace be with you..........

Hi 99vt66. Welcome back and thanks for the kind words

I actually agree with 3550 and hope that it will be hit.

Many pips to you my friend!

It always pays to do your homework. That is what I told my kids when they were growing up and what I tell my grandkids now. I should follow my own advice.

There are those that don't put much confidence in price patterns saying there is no way to predict the market by looking at the past. We do that everyday with fibs, pivot points, any other indicator you can think of. They are all based on past market movement trying to predict future movement.

The daily, weekly, monthly all had such divergence coming into March the market really had no other choice except to go up. The range price is in now is the exact same range it was in for 27 weeks back in '06 and when it broke long. Same happened Oct - Dec '08.

In the conspiracy theory of things the market won't go any direction because you want it to, wish it would, or think it should. Price is based on big money making money. Don't know if there will be a gap up/down, but since there is somebody out there watching my account and when I went short they said, "Dysan lost his patience - now go long" I hope they made what they needed from everyone else because right now when this market opens on Sunday/Monday I am looking for the exit without too much of a loss. I am still bearish looking for parity in the future, but I think I hitched up Gators mules to Drivers cart a little early.

I don't know if I agree with that.

To give an analogy. If you're about to cross the street, you'll wait for the light to turn green. That's because based on past patterns, it's safe to walk without getting hit.

But it doesn't mean that there won't be some maniac zooming by at full speed. Or maybe an ambulance or fire truck. These things happen sometimes.

So in a way, it could be argued that crossing the street is trying to predict the future. You're doing the best move you can based on patterns you know.

Before anyone points it out, I'm aware that this is a cheesy example but I think it's getting my point across

Exactly. The best you can with what you know. That was part of my point and maybe I should be more careful crossing the street?

JW,

In a long round-about way I was also saying that sometimes fail to see the forest for all the trees. Is that a good analogy?

I'd agree with that

I'll have the same as JW please. Firetrucks & firickin Ambulances...? Get TF outa the way. Stop Loss or MM Or Permanent Observation. This is Take Mine Before I Take Yours. Stand Ready.

Waiver:
I don't think that If I were the Only Short in FF that FF could crush my account. In fact I know so because I have a {reasonably} deep understanding of how this Market works. That's called MM.

Revalation:
Everytime that I have Posted my Directional Position {Long or Short}, at least a couple of other Respected Members have posted the Opposite.
Do I dislike them for taking my money? Do they dislike Me for reciprocating?

I don't think so. I think it's about
"If I do this right, it could be worth something."

So now it's down to you doing it right.
Any ideas?

More careful crossing the street: that's your s/l
Keep it simple.

I would like to think that you don't dislike them for taking your money. They shouldn't dislike you for reciprocating.

In the end, I'm always in charge of my own coin. Even when I'm wrong. So I should be in charge of my trades.

Sometimes once you start a discussion or post an entry it is difficult to get out without reciprocation. Different views on the subject is what makes this such a great thread. And sometimes it difficult to determine if some of the questions that follow are directed to you, others, or everyone in general.

I will keep this post short.

In response to Bemacs' question "Any Ideas?" if it was directed at me - Yes.

In response to KW "SL" - got one.

Gee guys, give me some credit. This isn't my first time to the dance.

Edit: That sounded like I was taking it personally - I'm Not.

g20 meetings gap at open ? heehee

Your reply confused me as it seemed somehow you thought I was at odds with you...

The bold print above is the only thing i was replying to and you're correct that is sort of the intent of the G20 meeting, as I understand it anyway, so nothing personal to do with you. I rather enjoyed reading the rest of your first post, I agree with it in the main, and have no idea what to make of your reply. It sounded like you thought otherwise.... but no worries.

there has been alot of talk about no stop loss in this thread recently. i will share my views on such tactics as in my 1 year and 3 month career, at least 12 months out of that entire time i used no stop loss. to best do this...i will select a few months


in april i had 37 winning trades and 3 losses...this is using no stop loss.
in may...i had 57winning trades and absolutely no losses. none. zero.

during this entire time i had increased my account by 200%..100% each month. (all sub 1000$ as such % gains in larger accounts are impossible...proper pip size though)

in november i had my greatest month ever. 200% account increase and out of 230 or so trades...i had only 15 losers.

this is a sign of greatness even from the start of my trading career right? WRONG.

during this whole time i had no stop loss. in other words i could afford the drawdown the eur/usd pair brought me without facing an account wipeout. this is very much due to the fact the eur/usd as volatile as the markets may be, is one of the easiest pairs to trade because the range of the volatility is not so high usually

now heres where the fun part starts. after may..june....i had lost all my gains i had made in the previous 2 months on probably less then 10 trades. What should have been a scalp trade turned into a losing trade. After a certain point...i thought it was safe to double up on the loser. That was not the end of it though and before i knew it twice my regular position size was in the negative. at some point...i opened another position in the same direction...and now i had 3 losing trades. Before i knew it...my account was wiped out. This happened in june. This happened in december.

So what am i trying to say...no matter what strategy...no stop loss eventually wiped out my account on repeated occasions. Now as a trader i consider myself great...my winning ratio is through the roof!. But when i let one trade...two trades..possibly three trades turn into losers...thats when disaster hits and my account gets wiped out.


At the very least...a trade with no stop loss which may come back later into positive territory consumes one very essential thing in trading. Time. its all about time folks..it truly is. The longer you wait for one trade to come back in your direction...the longer you are unable to open any additional trades. Time is money. THink about this logically. You had a trade that went against you for 200pips with no stop loss. Now you may wait possibly over a week for this trade just to come back into positive territory. Now consider this scenario. You had a trade with a 50pip stop loss. You get stopped out and at that point you decide whether you still felt correct about your original entry or want to join the market in the other direction. Not only were you able to make this decision right away...you won massive pips in amount of time just deciding what is the next right move.

THis all brings me to my last 2 months. 50pip stop loss on all trades. My win loss ratio is not as high as the 57wins no losses month i had (just half a year after i started live). Yet...my account continues to grow..no matter how many losses i have in a row...i can just reenter again whenever i please...no waiting required..no time wasted...and the profits themselves outnumber the losess.