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EURUSD

  • #94,441
  • May 10, 2009 1:47pm May 10, 2009 1:47pm
more and more contributors are placing orders at 1.34.
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  • #94,442
  • May 10, 2009 1:55pm May 10, 2009 1:55pm
Are you saying the eu is going to open down from the 1.3630 area we closed at friday?
  • #94,443
  • May 10, 2009 1:56pm May 10, 2009 1:56pm
Quoting 5abi
Ok. yes i get what you may be thinking, but what if it never gets down again? improbable but not impossible...

I still remember traders adding longs to the point when it fell to 4000 levels last year hoping that is the bottom, and then it goes down to take 2000's . That is why I keep my s/l based on ATR. If that is taken well this was never supposed to be a god trade, no? And I usually make it up when the short term trend reverses. Much better than having a 1000 pip stops (for me. not to say it cannot work for others)

Now to your second trade--...
Thanks 5abi. I do completely agree with you, it is the right way. But it does not go with my mentality. I tried it several times, but somehow cannot stick to it. Therefore decided to accept lower returns than to everytime fight with myself.
The Thief of Wall Street
  • #94,444
  • May 10, 2009 2:04pm May 10, 2009 2:04pm
hi kentashiburo

How are you buddy? Please what is Bid/ask for EU/USD now ?Japanese trading up already?
Thank you so much

Quoting kentashiburo
more and more contributors are placing orders at 1.34.
BANDA333
  • #94,445
  • May 10, 2009 2:07pm May 10, 2009 2:07pm
Back from almost a week not trading at all
Looks like a nice place for some shorts, we should retrace a bit from this large up-move Friday.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #94,446
  • May 10, 2009 2:08pm May 10, 2009 2:08pm
Whether up or down, there`s clearly no bias ... But it has always been my misfortune that the market opens in the direction opposite to my trade... Anyone who opens a trade opposite to my trade will end up with profits...lol. I`m bearish on EurJpy... so i think it`ll open with gap up...
  • #94,447
  • May 10, 2009 2:12pm May 10, 2009 2:12pm
Quoting BANDA
hi kentashiburo

How are you buddy? Please what is Bid/ask for EU/USD now ?Japanese trading up already?
Thank you so much
Rebounds
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  • #94,448
  • May 10, 2009 2:15pm May 10, 2009 2:15pm
Oanda has opened. No gap down...price is actually moving up. 1.3663 at last look.
  • #94,449
  • May 10, 2009 2:18pm May 10, 2009 2:18pm
Thank you very much

Quoting kentashiburo
Rebounds
BANDA333
  • #94,450
  • May 10, 2009 2:23pm May 10, 2009 2:23pm
thank god no gaps, now we can put that to rest.I hope euro goes up
  • #94,451
  • May 10, 2009 2:25pm May 10, 2009 2:25pm
Quoting ziko123
I guarantee we will have at least 100 pips gap up, that is why I bought on friday close, I've seen this scenario 100 times.
I told you,
I'll close my long position when my broker open at 5pm and then go short
  • #94,452
  • Edited 2:27pm May 10, 2009 2:25pm | Edited 2:27pm
Hi everyone,

Trade tension free. Forget about past, focus on future. Start from where you are now, but more wisely this time.

Sitback, relax and nurse semi.
The Thief of Wall Street
  • #94,453
  • May 10, 2009 2:29pm May 10, 2009 2:29pm
Quoting ziko123
I told you,
I'll close my long position when my broker open at 5pm and then go short
so you think euro will go down?
  • #94,454
  • May 10, 2009 2:31pm May 10, 2009 2:31pm
Quoting sid7121
so you think euro will go down?
it may go up but I'll keeping adding to short position every 150 pips
  • #94,455
  • May 10, 2009 2:33pm May 10, 2009 2:33pm
Quoting ziko123
it may go up but I'll keeping adding to short position every 150 pips
good plan, i plan to do the same, i am still holding a long position just like you, i think the price will rebound off 1.3400-3430 mark where i will go long again. What you think?
  • #94,456
  • May 10, 2009 2:33pm May 10, 2009 2:33pm
Quoting ziko123
it may go up but I'll keeping adding to short position every 150 pips
Adding to a losing position? Isn`t that risky?... Just my opinion...
  • #94,457
  • May 10, 2009 2:35pm May 10, 2009 2:35pm
Quoting zapper
Adding to a losing position? Isn`t that risky?... Just my opinion...
You may like to define "losing position". To me, a trade in red may or may not be a losing position.
The Thief of Wall Street
  • #94,458
  • May 10, 2009 2:39pm May 10, 2009 2:39pm
Quoting Chicky
You may like to define "losing position". To me, a trade in red may or may not be a losing position.
you are right... but if there`s sound money management involved in the trade, you`ll surely be a winner. I usually break even with a profit of 0-1pips, if i have exceeded my mental s/l limit...
  • #94,459
  • May 10, 2009 2:39pm May 10, 2009 2:39pm
Quoting zapper
Adding to a losing position? Isn`t that risky?... Just my opinion...
the fall after divergence is usually very quick/rapid , this may drop 300 pips in just one H4 bar, if I wait till bar close then It will be more risky, I have to start adding positions from here
  • #94,460
  • Edited 3:12pm May 10, 2009 2:45pm | Edited 3:12pm
Quoting zapper
you are right... but if there`s sound money management involved in the trade, you`ll surely be a winner. I usually break even with a profit of 0-1pips, if i have exceeded my mental s/l limit...
I would say "most probably a winner".

I realized importance of what you mentioned above in a long long time, though it was a very early lesson.
Money mangement and who you are come first.
The Thief of Wall Street
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