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EURUSD

  • #82,821
  • Apr 2, 2009 12:52pm Apr 2, 2009 12:52pm
Quoting KillerWhale
So actually it is the same as here most of the time?


Well I didn't want to be the one to say that as most Really Old Timers still don't get why it is these days they put the toilet inside the same building where the food is cooked...
FUBAR...
  • #82,822
  • Apr 2, 2009 12:53pm Apr 2, 2009 12:53pm
Quoting F.x.
You might try dumping most of them but leaving part of your best position open.
but the only reason it was at break even was because of the "best position." if I had kept the best position and sold everything else out I would risk losing money on that trade vs. break even.
  • #82,823
  • Apr 2, 2009 12:54pm Apr 2, 2009 12:54pm
Quoting ak4x


Well I didn't want to be the one to say that as most Really Old Timers still don't get why it is these days they put the toilet inside the same building where the food is cooked...
New voice message: Why are you calling me? If I need you, I'll call you!
  • #82,824
  • Apr 2, 2009 12:54pm Apr 2, 2009 12:54pm
some old timers like myself eat our meat raw..
those who can, do. those who cant, talk about those who can
  • #82,825
  • Apr 2, 2009 1:02pm Apr 2, 2009 1:02pm
Quoting g5ricky
but the only reason it was at break even was because of the "best position." if I had kept the best position and sold everything else out I would risk losing money on that trade vs. break even.
What I mean is close all positions except the best one, and close 90% (or whatever % you want) of the best position. That's basically the same as breaking even, but you have a low-risk position still in play that you can add to as price moves with or against you, depending on your gameplan.

So if you have 5 short positions:

-100
-100
-100
-100
-100

Then instead of "closing" them, you would just place a "buy" order for 450 units. Not sure which broker you're w/ but w/ Oanda this will close the worst positions and 50 of the best position, leaving 50 of the best position still in.
  • #82,826
  • Apr 2, 2009 1:05pm Apr 2, 2009 1:05pm
After some success monitoring price action and finding fairly accurate entries, I have concluded the answer to my inability to exit most successfully a direct result of failing to solidify a risk reward scenario on a trade.

I must therefore, maintain my new careful entry strategy, but most certainly start applying strict stop losses, and trailing stops to better protect against downside and extract more gains whne my entries are correct.

It's that simple. I can't afford any more gray hair.



Taking a break until next week, thankful for positive pips in this market! Best to luck to all.
  • #82,827
  • Apr 2, 2009 1:05pm Apr 2, 2009 1:05pm
EUR touch daily gan hillo , ,TD, horisental resistance line,and now
we have a bearish DV on M15 I think there will be a drop for EUR
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  • #82,828
  • Apr 2, 2009 1:07pm Apr 2, 2009 1:07pm
Quoting ak4x
Your Other Choice is put the coin back in your pocket and hang on to it...
Ah yes, if only that were an option (but you know the story behind that). What I really need to do is once again trust my instincts. When I started demo trading back in September, instincts was all I had and I doubled my account for each of the first three months. I was winning between 70 and 85% of my trades BUT was completely undisciplined. I mean no SL, no MM, nothing that even remotely resembled any sanity.

So then it happened, a couple BIG losers. Not wiping the account or even close but enough to scare the crap out of me and seriously shake my confidence. I decided I needed to "learn how to trade". I've learned much. So much in fact that I forgot about following my instincts.

I learned in the James 16 to pick out pins on the daily. I saw a BEAUTY on the cable Tuesday morning and even posted it in the thread asking if it was still a good play as I saw it a little late. But I didn't have the confidence to to "follow my gut" and run with it. A lesson I won't soon forget.

Still, looking back now and seeing that I actually identified it correctly helps the confidence a notch. Little by little, slowly I learn...LOL
Ghost Rider - WWTBMD?
  • #82,829
  • Apr 2, 2009 1:08pm Apr 2, 2009 1:08pm
bearish dv
Attached Image (click to enlarge)
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  • #82,830
  • Apr 2, 2009 1:17pm Apr 2, 2009 1:17pm
Quoting F.x.
What I mean is close all positions except the best one, and close 90% (or whatever % you want) of the best position.
So if you have 5 short positions:

-100
-100

-Then instead of "closing" them, you would just place a "buy" order for 450 units. Not sure which broker you're w/ but w/ Oanda this will close the worst positions and 50 of the best position, leaving 50 of the best position still in.
Oanda does not close the "worst" position this way, it will close positions in order of when they were opened.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #82,831
  • Apr 2, 2009 1:18pm Apr 2, 2009 1:18pm
Quoting peyman
EUR touch daily gan hillo , ,TD, horisental resistance line,and now
we have a bearish DV on M15 I think there will be a drop for EUR
We topped at weekly and monthly M4 pivot points, a 61.8% fib and some resistance looking left on the chart.

Could see a nice down move from here, and I am happy to be apart of it.
  • #82,832
  • Apr 2, 2009 1:25pm Apr 2, 2009 1:25pm
Tomorrow could likely be a bad day for Wall Street equities...shorts from 1.35 are tasty. BUt take profit accordingly
  • #82,833
  • Apr 2, 2009 1:38pm Apr 2, 2009 1:38pm
Quoting TIckerShuffl
After some success monitoring price action and finding fairly accurate entries, I have concluded the answer to my inability to exit most successfully a direct result of failing to solidify a risk reward scenario on a trade.

I must therefore, maintain my new careful entry strategy, but most certainly start applying strict stop losses, and trailing stops to better protect against downside and extract more gains whne my entries are correct.

It's that simple. I can't afford any more gray hair.



Taking a break until next week, thankful...

Nice post ticker, some very good advice for everyone.

I myself had to grow a gray beard before i finally stabilized all of my trading variables
Traders are smartasses
  • #82,834
  • Apr 2, 2009 1:40pm Apr 2, 2009 1:40pm
More proof those silly fibs drawn "after the fact" have absolutley no usefullness whatsoever and should be destoyed.

Upper and Lower anchors in orange, Useless fib hits in pink.
Attached Image
FUBAR...
  • #82,835
  • Apr 2, 2009 1:47pm Apr 2, 2009 1:47pm
Quoting F.x.
What I mean is close all positions except the best one, and close 90% (or whatever % you want) of the best position. That's basically the same as breaking even, but you have a low-risk position still in play that you can add to as price moves with or against you, depending on your gameplan.

So if you have 5 short positions:

-100
-100
-100
-100
-100

Then instead of "closing" them, you would just place a "buy" order for 450 units. Not sure which broker you're w/ but w/ Oanda this will close the worst positions and 50 of the best position,...
got it! thanks for the idea I'll try to implement it into my strategy.
  • #82,836
  • Apr 2, 2009 2:05pm Apr 2, 2009 2:05pm
wow i missed that moved.!!! ......

oh well phuck it.
DISCIPLINE IS THE KEY TO SUCCESS!!!:nerd:
  • #82,837
  • Apr 2, 2009 2:11pm Apr 2, 2009 2:11pm
Quoting ak4x
More proof those silly fibs drawn "after the fact" have absolutley no usefullness whatsoever and should be destoyed.

Upper and Lower anchors in orange, Useless fib hits in pink.
i saw that... maybe they should be outlawed..
those who can, do. those who cant, talk about those who can
  • #82,838
  • Apr 2, 2009 2:15pm Apr 2, 2009 2:15pm
Quoting gatorinla
i saw that... maybe they should be outlawed..
Yes, sue them, i know they were Madoff accomplices, they were activily involved.
Traders are smartasses
  • #82,839
  • Apr 2, 2009 2:21pm Apr 2, 2009 2:21pm
smaller one works too
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those who can, do. those who cant, talk about those who can
  • #82,840
  • Apr 2, 2009 2:22pm Apr 2, 2009 2:22pm
From a bigger picture standpoint, 3444 is the current value for the Daily 11sma, where price seems to be settling ((give or take a little wobble either side)) for the time being after retracing on the fall from the high.

That converges with other things like the xx50 psych level, the 15m 21sma and the 250% extension on the 30m fib I posted a bit ago. A biggie is the 79% fibo ((3460)) of the climb up from 2455 to 3735. That was Resistance on 15m on the way up and is now Resistance again after dropping thru it

Not knowing where Price will go is one thing, not knowing why it's where it's at is another.

Knowing the "quality" of a given S/R level helps provide confidence in whatever happens next when it departs that level... they're kickin me out of the Bakery now, but I was done anyway. All the cheese danish are gone.

Later.
Attached Image
FUBAR...
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