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  • #78,181
  • Mar 20, 2009 2:52am Mar 20, 2009 2:52am
lets us make another 4800ish b4 we stop LOL.
  • #78,182
  • Mar 20, 2009 2:53am Mar 20, 2009 2:53am
Quoting plan-b
short order at 1.37 activated
sell orders also pending at 1.3750 and 1.3800
hoping rallies in london session will bring in some pips midway into the NY session
This should have been 1.375
The Thief of Wall Street
  • #78,183
  • Mar 20, 2009 2:54am Mar 20, 2009 2:54am
Good morning , afternoon ,evening

wish you all green pips today
I SEE YOU !!
  • #78,184
  • Mar 20, 2009 2:55am Mar 20, 2009 2:55am
I'm out just below R1 taking profits watching for another long entry.
  • #78,185
  • Mar 20, 2009 2:57am Mar 20, 2009 2:57am
Quoting psiholog
i have wiped out like this in the past. why?...no stop loss. use stop loss and its fool proof as this method has high winning percentage.
it can still happen that by the time your sl is triggered, you're now in the red w/ much larger positions than ever, which wipe out all the work you just did.

don't get me wrong, the technique is amazing and works in certain markets. i almost doubled my account value in 8 weeks by doing exactly this. but it only lasts so long (hence the "almost" in my last sentence lol.)

the key is to use this method combined with others in your arsenal. then the only problem is choosing which weapon to use at which time, which is dictated by the type of market we're in for the day (the hardest thing to know.)
  • #78,186
  • Mar 20, 2009 2:59am Mar 20, 2009 2:59am
is any one here sees 3740 as a tough resistance ?

I placed a short at 3731 with tight SL around 15 pips
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I SEE YOU !!
  • #78,187
  • Mar 20, 2009 3:03am Mar 20, 2009 3:03am
bloody hell my short was not executed , just 5 pips more you bastard dollar
I SEE YOU !!
  • #78,188
  • Mar 20, 2009 3:04am Mar 20, 2009 3:04am
Quoting F.x.
it can still happen that by the time your sl is triggered, you're now in the red w/ much larger positions than ever, which wipe out all the work you just did.
if that happens it means your pip sizes are way too big in the first place for your account. no one loss should amount for a huge account drawdown..no matter what the account value is. chicky said he would short all the way up to 1.3850....with stop loss on all trades at 1.3900 for a maximum drawdown of 2%. Now i dont do it like that but my stop loss is similar...(a little bit more risky) so even if i have 10 losing trades in a row...im still not hurting.
Different opinions highly valued, ignorant to slander.
  • #78,189
  • Mar 20, 2009 3:05am Mar 20, 2009 3:05am
looking for a buy opportunity, 1.367 shoud give support if we get there

i want to see new highs today, lot of short stops above the high to be taken out

lets see...i dont fight today, its freaky friday
  • #78,190
  • Mar 20, 2009 3:05am Mar 20, 2009 3:05am
I'm with bears, just waiting for a good bounce


Quoting dbfusion
is any one here sees 3740 as a tough resistance ?

I placed a short at 3731 with tight SL around 15 pips
  • #78,191
  • Mar 20, 2009 3:06am Mar 20, 2009 3:06am
breakout variant
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  • #78,192
  • Mar 20, 2009 3:07am Mar 20, 2009 3:07am
Quoting dbfusion
bloody hell my short was not executed , just 5 pips more you bastard dollar
It was a good plan. Don't worry, plenty more chances today.
  • #78,193
  • Mar 20, 2009 3:13am Mar 20, 2009 3:13am
well im short again off 1.2708...seems like we have a double top/bottom in place for now on all major pairs. Stop loss is ideal too...a decent amount above yesterdays high.

if this hourly candle closes lower then the previous one...i think this may be the high for now. anyways..lets let pa do the talking

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Different opinions highly valued, ignorant to slander.
  • #78,194
  • Mar 20, 2009 3:14am Mar 20, 2009 3:14am
today I am neutral I am not biased to the bulls or the bears
thinking a sideways .

support not as tough as resistance IMO around 3614


missed really good short here
I SEE YOU !!
  • #78,195
  • Mar 20, 2009 3:15am Mar 20, 2009 3:15am
stop losses are crucial
I SEE YOU !!
  • #78,196
  • Mar 20, 2009 3:27am Mar 20, 2009 3:27am
i may look at going long if we bounce off the Daily R1 pivot to the upside.
  • #78,197
  • Mar 20, 2009 3:28am Mar 20, 2009 3:28am
Quoting psiholog
well im short again off 1.2708...seems like we have a double top/bottom in place for now on all major pairs. Stop loss is ideal too...a decent amount above yesterdays high.

if this hourly candle closes lower then the previous one...i think this may be the high for now. anyways..lets let pa do the talking

Attachment
Do you mean 1.3708 ?
  • #78,198
  • Mar 20, 2009 3:35am Mar 20, 2009 3:35am
Quoting Heilpraktike
Do you mean 1.3708 ?
yes my bad. i guess im still living in the 1.2300-1.3300 range days which is old news now and wondering where did my bear bias go. screw the treasuries...still..need to adapt to the times and not fight the trend...like i am doing right now
Different opinions highly valued, ignorant to slander.
  • #78,199
  • Mar 20, 2009 3:35am Mar 20, 2009 3:35am
Opportunity explored. Target achieved. Target locked on 50% position to ride for the day. Going to get some sleep.

Trade well.
The Thief of Wall Street
  • #78,200
  • Mar 20, 2009 3:40am Mar 20, 2009 3:40am
I'm going to take a break for a bit. Catch you guys later.
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