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  • #109,321
  • Jun 11, 2009 10:42pm Jun 11, 2009 10:42pm
Quoting Jay Walker
There are many variables to your question which makes it difficult to answer.

That being said, what I was trying to explain is that the fact you posted asking if you should stay out or not indicates that you lack confidence in your trade. And if you lack confidence, it's best to just stay out.

The same is true about entering a trade.

I know what I'm saying sounds outrageously vague, but if you don't get what I mean, you will eventually.
true...i actually lost quiet a lot last year after i making big profits, so now kinda scared to start trading...lets see...will keep the position n watch the market for now...thanks a lot though....cheers...!
  • #109,322
  • Jun 11, 2009 10:42pm Jun 11, 2009 10:42pm
[quote=Jay Walker;2797832]There are many variables to your question which makes it difficult to answer.....

Jay, I think you missed the fact that he is already stuck in a bad trade... So, despite that your "when in doubt stay out" is a clever adivce, for him it's too late....
Better safe than sorry
  • #109,323
  • Jun 11, 2009 10:48pm Jun 11, 2009 10:48pm
[quote=cdforex;2797837]
Quoting Jay Walker
There are many variables to your question which makes it difficult to answer.....

Jay, I think you missed the fact that he is already stuck in a bad trade... So, despite that your "when in doubt stay out" is a clever adivce, for him it's too late....
well spotted cd...
  • #109,324
  • Jun 11, 2009 10:48pm Jun 11, 2009 10:48pm
[quote=cdforex;2797837]
Quoting Jay Walker
There are many variables to your question which makes it difficult to answer.....

Jay, I think you missed the fact that he is already stuck in a bad trade... So, despite that your "when in doubt stay out" is a clever adivce, for him it's too late....
True.

What I should have said is...

If you're not in a trade and you're in doubt, stay out.

If you're in a trade and you're in doubt, get out.
Not all sins are created equal
  • #109,325
  • Jun 11, 2009 10:48pm Jun 11, 2009 10:48pm
Just remember people:

This weekend is the 15th anniversary of the slow-speed chase down the 5 freeway
when AC had OJ in the white Ford Bronco, so anything could happen in the market.

Be safe and use stops.

Edit: oh yea, one more thing: Don't kill your wife and half cut her head off.
It's so overdone and nobody will like you anymore.
  • #109,326
  • Jun 11, 2009 10:49pm Jun 11, 2009 10:49pm
[quote=Jay Walker;2797841]
Quoting cdforex

True.

What I should have said is...

If you're not in a trade and you're in doubt, stay out.

If you're in a trade and you're in doubt, get out.

Better safe than sorry
  • #109,327
  • Jun 11, 2009 10:50pm Jun 11, 2009 10:50pm
Quoting toshi
Just remember people:

This weekend is the 15th anniversary of the slow-speed chase down the 5 freeway
when AC had OJ in the white Ford Bronco, so anything could happen in the market.

Be safe and use stops.
Is that the slash, slash, backslash spoiled DNA indicator?
Not all sins are created equal
  • #109,328
  • Jun 11, 2009 10:50pm Jun 11, 2009 10:50pm
Quoting Jay Walker
That doesn't mean anything except that doofus added him first on his buddy list.
Chicky, you are a Turkey...

I about fell out of my chair when I read your post... Actually I sort of tried back in February to get off of it when he'd only been annoying us for a couple of weeks.

What can I say tho. It's alphabetical?

Jay, you're a True Bud for watchin my back... (but not in a guyliner kind of way...)
FUBAR...
  • #109,329
  • Edited 10:52pm Jun 11, 2009 10:51pm | Edited 10:52pm
Quoting prav
any suggestions for me...short @ 4020 since 2 days, missed profit 2 times as didnt work with SL or TP...ta
Prav, it all depends on timeframe, amount of risk you are willing to take or can afford, your trading objectives, etc. etc.

I can only tell you what I do to minimize my risk. I try to enter a position that offers at least 1:1 risk/reward. My SLs are below a support if I am entering long and my TP is also below next resistance. I either get stopped out or market moves in my favor. Kindly note that if market breaks a barrier, it usually has some force and PA continues going in that direction. Since my sl is close to a barrier (e.g. just below a support) damage is minimum. If market moves in my desired direction, I close out 50% (or more) when it crosses halfway mark (i.e. when number of positive pips equal the number of my sl pips from entry). Now I let the trade conclude. If it hits my TP, good, but if it hits my SL, I am still at BE because I already took 50% off the table. This works better on timeframes like 1H or above. This may help you in not missing any profits, if they are there.
The Thief of Wall Street
  • #109,330
  • Jun 11, 2009 10:52pm Jun 11, 2009 10:52pm
I am planning to go short now as it is loosing it momentum
i think should have a low today
waiting for another candle stick to confirm in h4
but possible to w 3
  • #109,331
  • Jun 11, 2009 10:55pm Jun 11, 2009 10:55pm
Quoting Jay Walker
Is that the slash, slash, backslash spoiled DNA indicator?
If the the glove don't fit, then your stop got hit.

Johnny Cochran Indicator.
  • #109,332
  • Jun 11, 2009 10:57pm Jun 11, 2009 10:57pm
ok we had a necked chart.. does anyone see something here im missing.. i see 2 longer term fibs having some influence.. almost 2 weeks into the month with no direction .. is the spinning top is it a trend reversal? jws parabolic on the monthy says bear weekly parobalic disagrees. the mid point of last summer high and fall low is still in the game (4175 area)..gold fib.. yet when we it tried to make a moveit it was slapped down by a older bigger pink fib (4353 area). then was stopped once again on its down move by the older pink fib 3831 area... another 50% area from 2005 till last summer high.. so i say below 3831 with a day or 2 close bearish with the day hs... above last weeks high with a day or 2 close bullish...so this puts us nuetral... almost... im selling the highs when near these numbers and buying the lows till breakout.. but if last weeks move was a headfake the retrace since did not close above the 62% of the move mark..4175 area is still the center of universe and we are below it.. im so confussed... tell what you see..im to tired to prof read post.. commoditys are writing this chapter..

goldmen says oil going up/ kawait slowing production to raise price 100 bucks a barrel..what the moral of this story? dont save their ass!!!! see what happens after?? anyway im trying to get the scoop on storage % .. ill post it when i find out..when storage is full price will have to drop..
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those who can, do. those who cant, talk about those who can
  • #109,333
  • Jun 11, 2009 10:58pm Jun 11, 2009 10:58pm
Quoting ak4x
Chicky, you are a Turkey...

I about fell out of my chair when I read your post... Actually I sort of tried back in February to get off of it when he'd only been annoying us for a couple of weeks.

What can I say tho. It's alphabetical?

Jay, you're a True Bud for watchin my back... (but not in a guyliner kind of way...)
Thanks buddy! Next pint is on you
Not all sins are created equal
  • #109,334
  • Jun 11, 2009 10:59pm Jun 11, 2009 10:59pm
i am thinking of have 5 pips TP cool ?
  • #109,335
  • Jun 11, 2009 10:59pm Jun 11, 2009 10:59pm
Quoting prav
true...i actually lost quiet a lot last year after i making big profits, so now kinda scared to start trading...lets see...will keep the position n watch the market for now...thanks a lot though....cheers...!
If you feel you have enough margin to ride a draw down an you are comfortable with that then sit on your trade.

If you want to hedge the trade until the direction is clear then Short USDCHF and long EURCHF for the same size as your EURUSD.

Half hedge would be short USDCHF.

Or you could simply close your trade and analize what went wrong on the entry.

I believe that I also entered at the same time as you. I closed shortly after my entry because the PA looked to strong to the upside.

I believe I got 1 pip out of the trade. Even if I had -10 pips I would have closed knowing that the PA was against my position and although I believe that we will head lower I chose to wait for Higher highs to short.
  • #109,336
  • Jun 11, 2009 11:00pm Jun 11, 2009 11:00pm
Quoting Chicky
Prav, it all depends on timeframe, amount of risk you are willing to take or can afford, your trading objectives, etc. etc.

I can only tell you what I do to minimize my risk. I try to enter a position that offers at least 1:1 risk/reward. My SLs are below a support if I am entering long and my TP is also below next resistance. I either get stopped out or market moves in my favor. Kindly note that if market breaks a barrier, it usually has some force and PA continues going in that direction. Since my sl is close to a barrier (e.g. just below a...
that was a true advice...thanks a lot for talking sense into me...will calculate a few things...
though the studies i read so far are all pointing that the pair is in downtrend and will see 1.38 in the near future and further down too...what is your opinion about it?
  • #109,337
  • Jun 11, 2009 11:00pm Jun 11, 2009 11:00pm
Hey, this is pretty exciting stuff.

Dynamic support (the 1hr lower BB and 21sma) has moved up from 4050ish to the DP anyway from earlier this session. I'm really likin the longs now but... easier to wait and see where it goes and look at things again in tomorrows Daylight.

I'm callin it an early one on my end. G'nite and watch your knickers.
Attached Image
FUBAR...
  • #109,338
  • Jun 11, 2009 11:02pm Jun 11, 2009 11:02pm
http://i41.tinypic.com/5kj9sw.png
  • #109,339
  • Jun 11, 2009 11:03pm Jun 11, 2009 11:03pm
Quoting ak4x
Chicky, you are a Turkey...

I about fell out of my chair when I read your post... Actually I sort of tried back in February to get off of it when he'd only been annoying us for a couple of weeks.

What can I say tho. It's alphabetical?

Jay, you're a True Bud for watchin my back... (but not in a guyliner kind of way...)


I don't know why I went there, but was surprised to see your name at the top of the list .
The Thief of Wall Street
  • #109,340
  • Jun 11, 2009 11:03pm Jun 11, 2009 11:03pm
Quoting gatorinla

goldmen says oil going up/ kawait slowing production to raise price 100 bucks a barrel..
what the moral of this story? dont save their ass!!!! see what happens after??

anyway im trying to get the scoop on storage % ..
ill post it when i find out..when storage is full price will have to drop..
You are correct, sir.

I think I'm calling all the U-haul storage places tomorrow and see if they're full of crude.

If they are, by gawd ima gonna short that euro.
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