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  • #92,741
  • May 5, 2009 1:47pm May 5, 2009 1:47pm
Quoting personalme


Generally vinesh2 is right. Hearing others opinion especially on general thread like this will just make your trade a mess. Stick to your plan while trading or even do not see anyone's post.
Yeah hes correct for sure but.. No dissrespect to the other trader but he looked like he needed a little guidance after shorting a hammer just above strong support/Fib. If we rallied hard would the response have been the same?
  • #92,742
  • May 5, 2009 1:47pm May 5, 2009 1:47pm
short to 1.3254
Successful people will do what unsuccessful people won’t or can’t do!
  • #92,743
  • May 5, 2009 1:55pm May 5, 2009 1:55pm
Quoting warta
once we break and close bellow bye bye euros


Attachment
Ya, i see it... we are in need of a sustained break. Between, I like your signature...
  • #92,744
  • May 5, 2009 1:58pm May 5, 2009 1:58pm
Quoting Spsantos


I'm very much inclined to hold my shorts, i have a "feeling" (i know, feeling doesn't count ) that it will last quite some time
Well bear in mind we really need to get under 1.3189 to properly negate the bullish trend a 1 hr close below 13300 should help us get there! Fingers crossed
  • #92,745
  • May 5, 2009 2:01pm May 5, 2009 2:01pm
Quoting moh.ezzat
short to 1.3254
Well good luck to you. With the end of NY session and 1.33 still doesn't break yet it is better for me to step aside now at least until 1.3250 before I said it is bear move. Wish you all the best mate.
Manage your risk accordingly and you're half done your home work.
  • #92,746
  • May 5, 2009 2:10pm May 5, 2009 2:10pm
Quoting personalme
Well good luck to you. With the end of NY session and 1.33 still doesn't break yet it is better for me to step aside now at least until 1.3250 before I said it is bear move. Wish you all the best mate.
thank you so much
Successful people will do what unsuccessful people won’t or can’t do!
  • #92,747
  • May 5, 2009 2:11pm May 5, 2009 2:11pm
Quoting Spsantos


I'm very much inclined to hold my shorts, i have a "feeling" (i know, feeling doesn't count ) that it will last quite some time
Feeling may be right. I'm now waiting for a bottom to build to position for a long term buy. Tomorrow for me is probable reversal day so may sit this one out some more.
  • #92,748
  • May 5, 2009 2:16pm May 5, 2009 2:16pm
Hi Everyone,

I am looking for your honest advice and suggestions. I know that most of you will say "dont trade by someone else's calls...trade what you see"...but i just want to hear your suggestions...that's all.

I have been stuck in a EUR/USD short @ 3063 since 4/28. I am trading 1 Full Lot and am currently (-2560). I have about $11k free margin.

Option 1: If i close it now, i will break even for the past month and not loose any, but not gain any either for the entire month (luckily i dont trade for a living . Basically i was up about $2500...so i'll just break even.

Option 2: I could let it run and see what happens by tomorrow based on the fact that the sentiment seems down.

I just want to get your opinions because at this point...i dont want to make a decision based on fear or greed.

Thank you very much.
  • #92,749
  • May 5, 2009 2:25pm May 5, 2009 2:25pm
Blue, first of all do you consider yourslef a swing trader or scalper? If swinger and have enough margin then look at the overall trend is down or up? Your charts should say that. If you are a scalper you shoul figure out what is your stop loss. Seems like you dont have a trade plan. Trade plan is the most important part of this game. You should also have put a stop loss so that you are not stuck in these kind of situatins. All the hard work you did last month is now lost. What ever money you loose on stop loss can always be gained back. Only advice I can give you is your judgement if you were able to make $2500 last month I am sure what ever money you loose this month you will make it back. Good luck
  • #92,750
  • May 5, 2009 2:27pm May 5, 2009 2:27pm
Quoting BlueSky07
Hi Everyone,

I am looking for your honest advice and suggestions....
In my humble opinion, you are trading a little bit too big for an account of the size of yours ... but that is just my opinion.

If i were in your shoes I would probably take the loss and promise myself to use tighter stops from now on ... just my 2 cents
  • #92,751
  • May 5, 2009 2:27pm May 5, 2009 2:27pm
Long time lurker, thought I would get around to posting and saying hello...

Short from 1.3337 and holding
Added at 1.3310
Targeting 1.3275

We shall see....
  • #92,752
  • May 5, 2009 2:28pm May 5, 2009 2:28pm
hi! i put impulsive short @ 3312, sometimes it happens, now not sure what to do, close it or wait for chance of 3290, which could be point at which it can rebound higher back ideas???
  • #92,753
  • May 5, 2009 2:29pm May 5, 2009 2:29pm
Quoting BlueSky07
Hi Everyone,

I am looking for your honest advice and suggestions....
May I say I commend you to have waited this out for so long and at the same time what took you so long for ask for advice.
I would look for a double bottom and at minimum get out 2/3 of your position. But then again, I have a long bias. I see this move down going to at most above 1.3250 if that helps. Another option trail the 1 bar high off the 4 hr chart until it gets to a place where you feel you should delare your trade as lost.
  • #92,754
  • May 5, 2009 2:29pm May 5, 2009 2:29pm
Quoting BlueSky07
Hi Everyone,

I am looking for your honest advice and suggestions. I know that most of you will say "dont trade by someone else's calls...trade what you see"...but i just want to hear your suggestions...that's all.

I have been stuck in a EUR/USD short @ 3063 since 4/28. I am trading 1 Full Lot and am currently (-2560). I have about $11k free margin.

Option 1: If i close it now, i will break even for the past month and not loose any, but not gain any either for the entire month (luckily i dont trade for a living...
sorry to hear but as u r newbie its wrong to trade full lot well , wait the daily candle to close if we close today bellow 1.3286 Area then hold a bit at least we will have a down trend maybe u can covver ur lose a bit , i dunno wut to say more but this is the best i can say , i dont wana take ur risk aswell its ur money at the end
all my best for u
  • #92,755
  • May 5, 2009 2:30pm May 5, 2009 2:30pm
Quoting BlueSky07
Hi Everyone,

I am looking for your honest advice and suggestions....

No S/L, No profits!
  • #92,756
  • May 5, 2009 2:32pm May 5, 2009 2:32pm
As warta mentioned wait for Daily candle close. If we manage to close below 1.33 then you may have a chance to cover some losses. Tomorrow could be a volatile day so use your judegement and everyone here is correct not sure why you trading a standard lot on a 11k margin you are going to loose that in a jiffy if you dont have good money management
  • #92,757
  • May 5, 2009 2:35pm May 5, 2009 2:35pm
Quoting vinesh2
As warta mentioned wait for Daily candle close. If we manage to close below 1.33 then you may have a chance to cover some losses. Tomorrow could be a volatile day so use your judegement and everyone here is correct not sure why you trading a standard lot on a 11k margin you are going to loose that in a jiffy if you dont have good money management

hey vinesh long time bro , hope u r doing well
  • #92,758
  • May 5, 2009 2:36pm May 5, 2009 2:36pm
Out of all @ 1.3319

Quoting Maelstrom
Long time lurker, thought I would get around to posting and saying hello...

Short from 1.3337 and holding
Added at 1.3310
Targeting 1.3275

We shall see....
  • #92,759
  • Edited 4:19pm May 5, 2009 2:40pm | Edited 4:19pm
Quoting BlueSky07
Hi Everyone,

I am looking for your honest advice and suggestions....
I prefer to see about your MM. Is above 6% or no? If Yes, you should set a level or to close some of your trade in specif level or hedging.
Don't know if you can do that or no. Oanda you can have account to have shorts or Longs, you can hedge then. I prefer to open lot of small trades than for example a full lot. I like to manage my trades like that for closing some if I need.

I WILL NOT ADVICE YOU WHAT TO DO, ONLY MY VIEW!

I can see some PA only for short term trades, now I can't see where price will be next ECB meeting.

I have some numbers to follow, a Daily close below 1.3100 and 1.3498.
Price can go further last top, but it is a good bet not to see that. We are in a area that bulls can be easily defeated, but we can see also a bull revenge and price can go to 1.3700 area again.

So, what to do with a full lot at 1.3063? If you are with MM under 3%, I will just leave it there and close your eyes for some days, if above 3%, you can close about 10 to 20% of that trade around 1.3177/1.3200 area, if above 6% you shouldn't allow that trade to leave full for so long.

This is MM.

I am Bear, and to see a Top until next Bear strong move can well be 1.3435 as well more 300 or even 500 pips above.

I do not see price above 1.3700.

Daily is in Danger area for shorts, so for all short below 1.3125 should be closed some if MM above 6% in the next drop, could well be this one.

So, 1.3100 it is a very important number and even a touch there, doesn't mean we go further drop, must see a daily close or below.

Do not forget my Bold words!!
  • #92,760
  • May 5, 2009 2:41pm May 5, 2009 2:41pm
This is my 1hr chart like i said earlier i am looking for it to complete an ABCD pattern finishing D near 1.35 then the drop everyone is looking for since friday will happen. as you see it bounced off 61% fib and is on its way up... if it goes for it i think it will be quick so hang on for the ride. also you see the rsi reached 25 and ready to move up lets see where it heads
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