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  • #89,701
  • Apr 27, 2009 1:24pm Apr 27, 2009 1:24pm
Quoting Jhig
I agree with the downward trend, but in order to continue downward some kind of retracement is in order. Now that the retracement looks to be working it way back up, I would expect price to maybe make it way back up to 1.3105. I say that because, that is where the downwards trendline level is holding. So price could go all the way back up and bounce off the trendline, continuing the downward trend.
My upper range on this bounce is 3060-3110, so I would say we are in the ball park anyway.
  • #89,702
  • Apr 27, 2009 1:25pm Apr 27, 2009 1:25pm
I finished my trade, at moment..

Heedful, мaybe turn or move around the chart!

Good luck, ALL TRADERS
  • #89,703
  • Apr 27, 2009 1:27pm Apr 27, 2009 1:27pm
Quoting Bigfx
Why even bother? I am in a short at 1.3290 going all the way down you guys need to throw away your indicators and trade what you see. Since friday you guys are looking long and I am +275
Sometimes it's just as good of an idea to lock in the pips while you got them and change direction. The tide does not come in forever, eventually it goes back out. Just take into account what the time frame for the trade is.
  • #89,704
  • Apr 27, 2009 1:29pm Apr 27, 2009 1:29pm
Quoting Pipsta
Sometimes it's just as good of an idea to lock in the pips while you got them and change direction. The tide does not come in forever, eventually it goes back out. Just take into account what the time frame for the trade is.
if you are going for an 8 to 11 pip move then you shouldnt trade forex I am up over 200% in six months trading the four hour maybe 2 to 4 times a week. Who has time for these 1 to 15 pip moves.
Boycott GFT for NFA hedge rule
  • #89,705
  • Apr 27, 2009 1:32pm Apr 27, 2009 1:32pm
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  • #89,706
  • Apr 27, 2009 1:33pm Apr 27, 2009 1:33pm
Quoting Bigfx
if you are going for an 8 to 11 pip move then you shouldnt trade forex I am up over 200% in six months trading the four hour maybe 2 to 4 times a week. Who has time for these 1 to 15 pip moves.
Every style isn't for every trader. Try not to think your style is for everyone or if you aren't doing it, it isn't worth doing.

Looks like we had the 15min chart close above the descending trendline but it might not be enough. This could just consolidate right above 1.30 gathering stream for another push lower.
  • #89,707
  • Apr 27, 2009 1:34pm Apr 27, 2009 1:34pm
whats the strong support area? around 1.2900 area? which can hold?
  • #89,708
  • Apr 27, 2009 1:37pm Apr 27, 2009 1:37pm
Quoting Pipsta
Every style isn't for every trader. Try not to think your style is for everyone and or if you aren't doing it, it isn't worth doing.

Looks like we had the 15min chart close above the descending trendline but it might not be enough. This could just consolidate right above 1.30 gathering stream for another push lower.

You're right pipsta everyone has a style I just don't have time to stare at charts all day hoping to take 5 here 7 there.

It will retest but I think we are going to see 1.28
Boycott GFT for NFA hedge rule
  • #89,709
  • Apr 27, 2009 1:37pm Apr 27, 2009 1:37pm
Quoting joldas
whats the strong support area? around 1.2900 area? which can hold?
Strong support at that area is 2915 give or take.
  • #89,710
  • Apr 27, 2009 1:41pm Apr 27, 2009 1:41pm
Quoting Bigfx
if you are going for an 8 to 11 pip move then you shouldnt trade forex I am up over 200% in six months trading the four hour maybe 2 to 4 times a week. Who has time for these 1 to 15 pip moves.
good for you, but don't tell me how to trade. i don't go to where you work and knock the broom out of your hand.
"i wake up in the morning, and i piss excellence"
  • #89,711
  • Apr 27, 2009 1:42pm Apr 27, 2009 1:42pm
but I am always curious when I see people setting stops??? at BE....I never could spend break even....also, I love when people say they've doubled their acct. or up 200%....how many can honestly say they trade for a living and/or their acct. is over $500.00+......


mm
He who hesitates is hesitant....which always leads to bad entries.
  • #89,712
  • Apr 27, 2009 1:43pm Apr 27, 2009 1:43pm
Quoting Bigfx
You're right pipsta everyone has a style I just don't have time to stare at charts all day hoping to take 5 here 7 there.

It will retest but I think we are going to see 1.28
I'm not asking you to.

It's just that you might think this it's going to 1.28 but who knows if it will. There are wavers here who think the opposite direction is more in line with their systems. We could see 1.34 before we see 1.28, too. The guy who longed at 1.30 would be up 400 pips and you could be wondering why you didn't close out when you had 250 pips there.
  • #89,713
  • Apr 27, 2009 1:46pm Apr 27, 2009 1:46pm
Quoting trader69
good point. i was short @ 1.3280 from friday and also shorted on the way down. just wanted to sharpen my knife catching skills a little.
what sucks is in a few weeks i would have stayed in my short and taken longs here and there but thanks to GFT and its goon squad who can't write decent software they petitioned the NFA to do away with hedging. everyone should boycott GFT.
Boycott GFT for NFA hedge rule
  • #89,714
  • Apr 27, 2009 1:47pm Apr 27, 2009 1:47pm
Quoting Mackeymax
but I am always curious when I see people setting stops??? at BE....I never could spend break even....also, I love when people say they've doubled their acct. or up 200%....how many can honestly say they trade for a living and/or their acct. is over $500.00+......


mm
I can honestly say I trade for a living. BE is not really in my vocabulary unless it is a trade that went bad after 20 points. Call it a safety valve for a brain fart.
  • #89,715
  • Apr 27, 2009 1:48pm Apr 27, 2009 1:48pm
Quoting Pipsta
I'm not asking you to.

It's just that you might think this it's going to 1.28 but who knows if it will. There are wavers here who think the opposite direction is more in line with their systems. We could see 1.34 before we see 1.28, too. The guy who longed at 1.30 would be up 400 pips and you could be wondering why you didn't close out when you had 250 pips there.

I take profit so I am covered
Boycott GFT for NFA hedge rule
  • #89,716
  • Apr 27, 2009 1:49pm Apr 27, 2009 1:49pm
Quoting F.x.
Well shit... so far we have the plague and earthquakes... I'm not counting on a reversal until after the fucking meteorite hits.
maybe an earthquake will do...
Mexico rattled by 6.0 magnitude earthquake!! http://newsinfo.inquirer.net/breakin...ude-earthquake
  • #89,717
  • Apr 27, 2009 1:50pm Apr 27, 2009 1:50pm
Quoting Mackeymax
but I am always curious when I see people setting stops??? at BE....I never could spend break even....also, I love when people say they've doubled their acct. or up 200%....how many can honestly say they trade for a living and/or their acct. is over $500.00+......


mm

Yes but I can prove my 200% can you
Boycott GFT for NFA hedge rule
  • #89,718
  • Apr 27, 2009 1:52pm Apr 27, 2009 1:52pm
Quoting Mackeymax
but I am always curious when I see people setting stops??? at BE....I never could spend break even....also, I love when people say they've doubled their acct. or up 200%....how many can honestly say they trade for a living and/or their acct. is over $500.00+......


mm
Well, the reason I put stop losses at BE is for scalps that all of a sudden look like there could be a longer term play possible. I'm not going to bank on anything longer but I surely don't want to get a loss from it either. To me BE is where I got in plus the spread. So I get at least a few pips for my hassle.
  • #89,719
  • Apr 27, 2009 1:57pm Apr 27, 2009 1:57pm
Quoting Pipsta
Well, the reason I put stop losses at BE is for scalps that all of a sudden look like there could be a longer term play possible. I'm not going to bank on anything longer but I surely don't want to get a loss from it either. To me BE is where I got in plus the spread. So I get at least a few pips for my hassle.
but why not make it +1 or +5 instead of break even? (after spread) you cant spend "break even" at the store. i agree with trying to get the run, but i always protect profit, all of it. just my 2 cents. i kinda get what your saying though. the ones that really puzzle me are when you are up 50 pips, take half off, and ride the rest with a break even stop. again, why not a +5 stop?
"i wake up in the morning, and i piss excellence"
  • #89,720
  • Apr 27, 2009 1:57pm Apr 27, 2009 1:57pm
Quoting Mackeymax
but I am always curious when I see people setting stops??? at BE....I never could spend break even....also, I love when people say they've doubled their acct. or up 200%....how many can honestly say they trade for a living and/or their acct. is over $500.00+......


mm
Here you go Mackey, the money where my mouth is my entries on eu from friday and thursday
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Boycott GFT for NFA hedge rule
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