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  • #109,641
  • Jun 12, 2009 5:58am Jun 12, 2009 5:58am
Quoting prav
Hey...i was away for a couple of hours...just got back and my short @4037 finally is in profit...

what should i do about it...should i do? wait for more bears or should i TP?

guys please give me your views on it
This is your answer. "...what should I do ???"

When you ask this question - ever - it is time to step back with a flat position
and clear your head. If, you're no longer positioned one way or the other
and the trade still looks good, you can always reenter.
Even if it drops 300 pips (you heard it here) SO WHAT ?
Your objective is (or atleast should be) to first preserve your capital, then make pips.
It can't work the other way around.

Your call.
  • #109,642
  • Jun 12, 2009 6:00am Jun 12, 2009 6:00am
M2 support (1.4020) has held forming a floor (yellow line). Ive done well trading these bounces on this 5 min chart. We should see at least a small rise from this price action and I have left some long positions open to capture this
Attached Image (click to enlarge)
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BTC Return This Year: na
  • #109,643
  • Jun 12, 2009 6:00am Jun 12, 2009 6:00am
Quoting Carcour76
pz fisherman tell me one last time
just tell me is there hope eur will go up or no plz
i wanna close my trade
iam - 1000$

how much have you on account?
  • #109,644
  • Jun 12, 2009 6:02am Jun 12, 2009 6:02am
Quoting Carcour76
plz help me what i shall do
So do you mean to say that you are -1000 and thats nearly going to clean your account out?

Maybe you could go short on USD/JPY and hedge your trade. Then you will be able to sit there and watch them both go up and down with little impact on you.

Of course, this positio would be quite hard to get out of with little equity.
  • #109,645
  • Jun 12, 2009 6:02am Jun 12, 2009 6:02am
can we see up now and to what target or no way to see up
  • #109,646
  • Jun 12, 2009 6:03am Jun 12, 2009 6:03am
Quoting prav
Hey...i was away for a couple of hours...just got back and my short @4037 finally is in profit...what should i do about it...should i do? wait for more bears or should i TP?

guys please give me your views on it
What signal did you haveto enter the market ? On what TF did you take your decision ? If I look to my 30mn TF I would let my profit running but I would never have entered the market at your level.

You are now at the 61.8% Fib retracement level on 30mn TF analysis based....so tight stop is necesseray. Respect your rules man. You certainly didn't use the 30TF to enter the market @1.4037....or you are crazy :-)
  • #109,647
  • Jun 12, 2009 6:06am Jun 12, 2009 6:06am
supposed EU South more to 4000~3980, then North.

so long@3980, sl:70, TP: 150 another long@ 4000, sl:50 TP:100

Post here just for remind self being present always.
  • #109,648
  • Jun 12, 2009 6:06am Jun 12, 2009 6:06am
It's making up it's mind. A few more pips and the Bears will run and hide until New York open.
Possible retest of 60's then 80's

Breach of the last low should open the door to 140 the figure, or lower.
13980 or worse.

Clue is 14048. Retaking the 50's would turn outlook atleast 30 pips higher.
Some kinda double bottom trying to form. Not worth much but could scare the bears
into a mild short covering. Nothing major though.

Still looking for a bounce off of 100 SMA, just because it's there. No other real reason.
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  • #109,649
  • Jun 12, 2009 6:07am Jun 12, 2009 6:07am
Thanx AtLast and Toshi...you guys have been really helpfull...cheers...!
  • #109,650
  • Jun 12, 2009 6:08am Jun 12, 2009 6:08am
1 hour is oversold
and did not loose ema support on 10 Ema
and possible to rally to 1.4060
i entererd long at 1.4025 how do you guy think
SL 1.3990
  • #109,651
  • Jun 12, 2009 6:09am Jun 12, 2009 6:09am
Quoting Std-uk
supposed EU South more to 4000~3980, then North.

so long@3980, sl:70, TP: 150 another long@ 4000, sl:50 TP:100

Post here just for remind self being present always.
I have the same idea for sure !
  • #109,652
  • Jun 12, 2009 6:11am Jun 12, 2009 6:11am
Quoting redrose
1 hour is oversold
and did not loose ema support on 10 Ema
and possible to rally to 1.4060
i entererd long at 1.4025 how do you guy think
SL 1.3990
Your SL could be reach before your target....
  • #109,653
  • Jun 12, 2009 6:11am Jun 12, 2009 6:11am
Quoting Atlast
Let me help you out on this one. You were down over 150 pips, right, which was way outside your comfort zone, yes. You endured the pain over 24 hrs and it worked in your favour with help from some members here. Now, do yourself a favour and look to BE or small loss at least on half your position f not all. You never know for sure when it will turn. I mentioned a few times already S1. But there are loads of opportunities for new trades.

Hehe, I were close to leaving his question out but since you did it so close to what I where suppose to write.. puh... I will as I am doing now, write...

You have been really close to wiping your account so you left the position open and went out/work/sleep whatever...

It did work as it often does in the start with gambling...

So this is what you are going to do next, you still believe this is a easy game and you are the boss over the market. After a couple of losses and a couple of winnings you will loose, filling up your account again and loosing it all again... unless you go to Google and search for: reasons for failing forex market....

spend this week-end doing that and you are on the right track

a bit of sarcasm but that's fine

(yes its what I did when I started with stocks close to 8 years ago now).


Wiped my account 4 times....
  • #109,654
  • Jun 12, 2009 6:12am Jun 12, 2009 6:12am
Waiting on Trichet
  • #109,655
  • Jun 12, 2009 6:12am Jun 12, 2009 6:12am
is that posible we see 1.4060
  • #109,656
  • Jun 12, 2009 6:13am Jun 12, 2009 6:13am
2 hours earlier was hammer then doji ssto oversold 1 hr tf
macd still possitive on four hour and waiting for next candle but itis downtrend waiting for as can pull only two can dle up
beacuse it has make three crow in 4 hour candle

this pattern can change if europe if DAX FTSE DJIA
+1%and above
so after i close my postion i will wait for short again
  • #109,657
  • Jun 12, 2009 6:16am Jun 12, 2009 6:16am
demand is less supply is putting preasure not looking good
so on rebound i will close my position but still should make some small pip
  • #109,658
  • Jun 12, 2009 6:19am Jun 12, 2009 6:19am
Im out for 27 pips.. Sit on the fence and wait till open now.
  • #109,659
  • Jun 12, 2009 6:19am Jun 12, 2009 6:19am
okie dokie. Double bottom was baloney. Market made it's mind.

100 hour SMA touch, done. Just cause it's there.

Now the real work begins.........
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  • #109,660
  • Jun 12, 2009 6:19am Jun 12, 2009 6:19am
Long at 1.3985 if your interested...love this down train
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