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EURUSD

  • #101,401
  • May 27, 2009 6:31am May 27, 2009 6:31am
I sholda, woulda coulda been done for the day....
  • #101,402
  • May 27, 2009 6:36am May 27, 2009 6:36am
Come on EUR! Crash already!
  • #101,403
  • May 27, 2009 6:38am May 27, 2009 6:38am
...Went short at 1.3965, took 2/3rds of position out at 1.3925.
Expectation....down to 1.3893.

Should it get below 1.3893, it has open space to 1.3803!!
Good Trading. (keep it simple).
  • #101,404
  • May 27, 2009 6:39am May 27, 2009 6:39am
Quoting notch
Come on EUR! Crash already!
There's a lot of daily range yet to give. Picked up 30 on the last move south. I'd like 3880 this time, Alex (Trebek), please.

Obviously that long I was looking for last night never materialized. I had a pending at 4007, to go to 3037, but it never took off. Deleted that trade before bedtime. This move is looking good.
Up or down, gimme a ticket
  • #101,405
  • May 27, 2009 6:39am May 27, 2009 6:39am
I am now long, looking for the quick turn around.
  • #101,406
  • May 27, 2009 6:41am May 27, 2009 6:41am
Quoting SpecialEd
There's a lot of daily range yet to give. Picked up 30 on the last move south. I'd like 3880 this time, Alex (Trebek), please.

Obviously that long I was looking for last night never materialized. I had a pending at 4007, to go to 3037, but it never took off. Deleted that trade before bedtime. This move is looking good.
Typo?
  • #101,407
  • May 27, 2009 6:41am May 27, 2009 6:41am
Quoting Atlast
I am now long, looking for the quick turn around.
Shouldn't you wait a bit more? Support line is 3858.
  • #101,408
  • May 27, 2009 6:42am May 27, 2009 6:42am
Quoting Atlast
I am now long, looking for the quick turn around.

That seems out of kilter with what I have seen of your method upto this point.
  • #101,409
  • May 27, 2009 6:43am May 27, 2009 6:43am
WE THANK THEE OH FOREX GODS FOR THY LOVELY GIFT FROM ABOVE, THY MANNA FROM HEAVEN, WHICH WE YOUR HUMBLE SERVANTS REFER TO AS LEVERAGE!


  • #101,410
  • May 27, 2009 6:44am May 27, 2009 6:44am
Quoting notch
That seems out of kilter with what I have seen of your method upto this point.

But it looks like you've got paid...well done!
  • #101,411
  • May 27, 2009 6:45am May 27, 2009 6:45am
Quoting TheFisherman
Typo?
4037, thx
Up or down, gimme a ticket
  • #101,412
  • May 27, 2009 6:46am May 27, 2009 6:46am
Quoting govno
Shouldn't you wait a bit more? Support line is 3858.
Off a lower trendline.
  • #101,413
  • May 27, 2009 6:47am May 27, 2009 6:47am
Quoting notch
That seems out of kilter with what I have seen of your method upto this point.
Didn't get in short, but the move is extended so worth at least a scalp.
  • #101,414
  • Edited 6:51am May 27, 2009 6:49am | Edited 6:51am
Quoting Atlast
Didn't get in short, but the move is extended so worth at least a scalp.

It's a .618 & 1.618 5 wave extension so there's a good chance that it might retrace back to 1.3938.


But I'm still short.
  • #101,415
  • May 27, 2009 6:51am May 27, 2009 6:51am
Quoting notch
It's a .618 & 1.618 5 wave extension so there's a good chance that it might retrace back to 1.3938.
Atlast knocked me out of my short at +1 pip, after a healthy +30 prior to that. Now awaiting another set-up. You guys are good.
Up or down, gimme a ticket
  • #101,416
  • May 27, 2009 6:51am May 27, 2009 6:51am
looking to reinstate my short at 1.393. damn fake-up screwed me out of this move!
  • #101,417
  • May 27, 2009 6:55am May 27, 2009 6:55am
Quoting Atlast
Didn't get in short, but the move is extended so worth at least a scalp.
I'm trying to clear the mist a bit:

One hour forecast: 13-14:00 gmt

PH: 1.3940 (consistent with EW)
PL: 1.3876
  • #101,418
  • May 27, 2009 6:55am May 27, 2009 6:55am
Some scalper porn... (I don't consider myself a scalper, but...)
Attached Image (click to enlarge)
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  • #101,419
  • May 27, 2009 6:56am May 27, 2009 6:56am
Quoting SpecialEd
Atlast knocked me out of my short at +1 pip, after a healthy +30 prior to that. Now awaiting another set-up. You guys are good.
How did I do that? sorry if you got hurt.
  • #101,420
  • May 27, 2009 6:57am May 27, 2009 6:57am
Quoting F.x.
You're quite welcome.

Regarding your example... that's way too much detail for me. If I may make an observation.... it seems that you are falling into the same trap that pretty much everyone falls into. That is, making trading more difficult that it needs to be. You might try "zooming out" in all aspects. Meaning, not only the timeframe of the chart, but also your entire gameplan. I guarantee the simpler you make it, the better you will do (see again my last post for a general gameplan.)

Try using the 1 or 4 hour charts and limiting yourself...
Thanks again F.x

I actually do look at hourly and 4 hourly charts to plot S/R levels and major trendlines, I only zoom into shorter timeframe to finese entry and lower risk.

Longer timefames are easier to trade however stops are further away, but risk reward remains the same.

Risking 10 pips to make 20 or risking 50 to make 100 is the same risk reward ratio. If you also have the same win/loss ratio for both then the key difference is position size and frequency.

Cheers
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