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  • #82,221
  • Apr 1, 2009 12:04pm Apr 1, 2009 12:04pm
Quoting got pips?
i entered at 1.3260 after i saw the pair react to the 300Ema....i was expecting today to be a bit more volantile since the G20 meeting is taking place....but it has been very calm....

Ahhh single trader not a wave riding scalper like myself them.

I like Calm, today suites my system perfectly.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #82,222
  • Apr 1, 2009 12:05pm Apr 1, 2009 12:05pm
still long mules, cheap booze, and salt peter ect. adding another long on pitchforks now..
those who can, do. those who cant, talk about those who can
  • #82,223
  • Apr 1, 2009 12:06pm Apr 1, 2009 12:06pm
look at dow...
-742 K
and GM about to fill bankrupt...

it must be the spring....

  • #82,224
  • Apr 1, 2009 12:06pm Apr 1, 2009 12:06pm
past few days have been art for me. we just jump from one channel to another. when one ends another begins. some channels are stronger then others. some support/resistance levels also affect how these channels develop. what a ranging market..art indeed....i should appreciate it just as much...look but dont touch

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this pa reminds of november where wherever i placed a trade i won!.....easiest 3000 pips i had ever made. the key to my success was no stop loss....tight range=tight pips but many of them...same scenario as here.

ironically in that range in november all i would do is buy as close to the low as possible...yet in december when we reached the high of the range i sold...fastest pips i ever lost...the key to my success in november was key to my failure in december...no stop loss.

now...50pip stop loss always...safer but win % has dropped by at least 10%....compromises
Different opinions highly valued, ignorant to slander.
  • #82,225
  • Apr 1, 2009 12:07pm Apr 1, 2009 12:07pm
Quoting Turveyd
I trade with no SL and exit rules that are also fluid. ( Rules apply for exiting in profit and at a loss don't worry )

I've tried to setup trader teams before with Yahoo ( more brains are better than 1 ) there not, you can never get everyone on the same page so it just adds to confusion and more losses.
if you were short last big north move no sl could of been bad..
those who can, do. those who cant, talk about those who can
  • #82,226
  • Apr 1, 2009 12:08pm Apr 1, 2009 12:08pm
Quoting emda
look at dow...
-742 K
and GM about to fill bankrupt...

it must be the spring....

af day
those who can, do. those who cant, talk about those who can
  • #82,227
  • Apr 1, 2009 12:12pm Apr 1, 2009 12:12pm
Quoting gatorinla
if you were short last big north move no sl could of been bad..

I don't leave the screen though, worst case is the power goes off then I'm in trouble but it's a chance I'm willing to take.

Laptop + Car + Wi-Fi Open spot comes to mind LOL

The second I see a issue, regardless of profit or loss I'm OUT end of story, I'm getting the hang of that, protect your account to trade another day.

Of my last 21 trades none of them have gone past -15pips, which is about the area I'll be out of there.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #82,228
  • Apr 1, 2009 12:13pm Apr 1, 2009 12:13pm
Quoting gatorinla
oil inventorys up.. gasoline and distilates up more then expected..
Hi, what do you think this means for oil in the short term ? question from newbie
  • #82,229
  • Apr 1, 2009 12:14pm Apr 1, 2009 12:14pm
Quoting psiholog
past few days have been art for me. we just jump from one channel to another. when one ends another begins. some channels are stronger then others. some support/resistance levels also affect how these channels develop. what a ranging market..art indeed....i should appreciate it just as much...look but dont touch

Attachment


this pa reminds of november where wherever i placed a trade i won!.....easiest 3000 pips i had ever made. the key to my success was no stop loss....tight range=tight pips but many of them...same scenario...
yeah it tends to over shoot.. just the bulls flexing... im gonna add to shorts 3265
those who can, do. those who cant, talk about those who can
  • #82,230
  • Apr 1, 2009 12:15pm Apr 1, 2009 12:15pm
Quoting gatorinla
if you were short last big north move no sl could of been bad..
I agree that trading without a SL is certain suicide but for the life me, I always get nailed by them by just a couple pips and then it goes my way. It's seems no matter how far away I put them, 30, 60, 100, they get hit by 3 or 4 measly pips and then the trade goes the way I wanted it to...LOL

Almost seems that when I put one there, it has a BIG bulls eye on it.

It's a KILLER either way.
Ghost Rider - WWTBMD?
  • #82,231
  • Apr 1, 2009 12:19pm Apr 1, 2009 12:19pm
Quoting Turveyd
I don't leave the screen though, worst case is the power goes off then I'm in trouble but it's a chance I'm willing to take.

Laptop + Car + Wi-Fi Open spot comes to mind LOL

The second I see a issue, regardless of profit or loss I'm OUT end of story, I'm getting the hang of that, protect your account to trade another day.

Of my last 21 trades none of them have gone past -15pips, which is about the area I'll be out of there.
i got 40 in a row.. my personal best... its a bitch when pair decides not to move and you spend hour after hour waiting... on those 40 in a row trades 41 cost me more then half of the 40 in a row..
those who can, do. those who cant, talk about those who can
  • #82,232
  • Apr 1, 2009 12:22pm Apr 1, 2009 12:22pm
Quoting jub1
Hi, what do you think this means for oil in the short term ? question from newbie
maybe oil comes down some.. economy fragile..markets are fragile..back to lows would not surprise me.. and what i think dont matter..
those who can, do. those who cant, talk about those who can
  • #82,233
  • Apr 1, 2009 12:29pm Apr 1, 2009 12:29pm
Quoting albchr
I agree that trading without a SL is certain suicide but for the life me, I always get nailed by them by just a couple pips and then it goes my way. It's seems no matter how far away I put them, 30, 60, 100, they get hit by 3 or 4 measly pips and then the trade goes the way I wanted it to...LOL

Almost seems that when I put one there, it has a BIG bulls eye on it.

It's a KILLER either way.
thats because this market is designed to do just that. the way i see it...there are 2kinds of ranging markets

1)easy pips range
a ranging market between a strong support and strong resistance level similar to pa when we got stuck between 1.2565 and 1.2625. It was fairly easy to play that range.....just buy at the low..sell at the high..over and over and over. The breakouts out of that range where just as easy to play...it was a game of peaks and valleys...whenever pa broke out of that range you just looked at where pa would encounter strong resistance/support outside the range....and place a position with the idea pa would return to the range set. (always wary of when the real breakout would come)

2)current kind of range (easy to lose pips)
we are ranging but with no clear support/resistance levels. we bounce off of different levels every time which makes it harder to play the range and very easy to get stopped out if you entered at the wrong time. then you get stopped out...and around that area is where pa reverses in your favor...but ur already flat...not willing to enter another trade as account preservation comes to mind and you also become unsure of direction.

Ranges...in the first example stop loss is good...in the second example..stop loss is bad....the only problem with no SL is when the real move will come...it will come fast and it will wipe out a large portion of your account if unprepared for it (no sl). As soon as that happens..you resort to revenge trading (gotta make those pips back)...and the only thing you end up doing is causing even more damage.

There is a great saying in Forex which is quite wise.

When in doubt...stay out.
Different opinions highly valued, ignorant to slander.
  • #82,234
  • Apr 1, 2009 12:41pm Apr 1, 2009 12:41pm
Quoting albchr
I agree that trading without a SL is certain suicide but for the life me, I always get nailed by them by just a couple pips and then it goes my way. It's seems no matter how far away I put them, 30, 60, 100, they get hit by 3 or 4 measly pips and then the trade goes the way I wanted it to...LOL

Almost seems that when I put one there, it has a BIG bulls eye on it.

It's a KILLER either way.
about 6 weeks ago i wrote something to chicky on this.. if you like scroll old post.
those who can, do. those who cant, talk about those who can
  • #82,235
  • Apr 1, 2009 12:42pm Apr 1, 2009 12:42pm
from 1.25xx to 1.37xx.. last bull move... we have retraced the 50%...
that means that if price would go 1.38 and up... more than 50% of volume would win a lot.... and I think we need to cut that volume a bit more... and retrace more to.... mmm let's say between 1.2900 and 1.3000... then it's all clear to go to 1.4000. Time will tell.
  • #82,236
  • Apr 1, 2009 12:43pm Apr 1, 2009 12:43pm
my previous post made me think about what is it that creates scenario #2. as is the case here...higher lows..lower highs but no sense of direction

then it clicked!...only triangles do that. looking at the hourly chart that is exactly what is happening. the beauty about it is....by the time it would reach the end...its already time for g-20 and ecb rate cuts when i expect the "big move" to occur. very interesting

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I would say this is a bear continuation pattern however...considering the magnitude of the news to come in less then 24 hours...id rather wait to see how it breaks
Different opinions highly valued, ignorant to slander.
  • #82,237
  • Apr 1, 2009 12:43pm Apr 1, 2009 12:43pm
Quoting gatorinla
i got 40 in a row.. my personal best... its a bitch when pair decides not to move and you spend hour after hour waiting... on those 40 in a row trades 41 cost me more then half of the 40 in a row..
Been there on the losing trade, I'd have to give back 85pips at this stage to give back 1/2 my profits thats NOT HAPPENING LOL

Got to make another 90pips before going $2 per pip as per the plan ( £300 ), dropping back to $1 if dropped below this level. So 350pip buffer. Better than the 84pips I was down to before hitting Margin
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #82,238
  • Apr 1, 2009 12:50pm Apr 1, 2009 12:50pm
Quoting psiholog
thats because this market is designed to do just that. the way i see it...there are 2kinds of ranging markets

1)easy pips range
a ranging market between a strong support and strong resistance level similar to pa when we got stuck between 1.2565 and 1.2625. It was fairly easy to play that range.....just buy at the low..sell at the high..over and over and over. The breakouts out of that range where just as easy to play...it was a game of peaks and valleys...whenever pa broke out of that range you just looked at where pa would encounter strong resistance/support...
Thank YOU...that really helps explain a lot!

Thank you too gatorinla, I will look for it.
Ghost Rider - WWTBMD?
  • #82,239
  • Apr 1, 2009 12:53pm Apr 1, 2009 12:53pm
Have you guys ever heard of elliott wave?
  • #82,240
  • Apr 1, 2009 12:56pm Apr 1, 2009 12:56pm
Quoting pipstert
Have you guys ever heard of elliott wave?
Who is this Mr. Elliot Wave, a CEO or something, never heard of him, please explain more if possible.

Hey bulls still alive, ej ?
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Jewel1996