EURUSD | Page 5491 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD, GBP/USD, USD/CHF

Similar Threads

MT4: how to change "EURUSD" to "#EURUSD"? 3 replies

Re: EurUsd short term 15 replies

did oanda just drop its spread for eurusd to 1 pip? 11 replies

EA for multiple lot limit order for EURUSD 0 replies

NFP nice bump up on EURUSD 2 replies

Attachments: EURUSD
Exit Attachments

EURUSD

  • #109,801
  • Jun 12, 2009 8:53am Jun 12, 2009 8:53am
Quoting Turveyd
Forget your SL whats important is profiting in the first place,...
I strongly disagree with this quote.

Rule 1 is not profit, it is capital preservation.

PS, In case you are joking, please accept my humble apologies, being only 0.4 % up this entire month, my humorous sense is severely damaged .
  • #109,802
  • Jun 12, 2009 8:57am Jun 12, 2009 8:57am
Well, I've done some analysis and here's my target:

Wouldn't even surprise me if it happened today (somewhat doubtful, though possible)
or atleast by the close of business Monday. Let's let the market do what it does best: move
Attached Image (click to enlarge)
Click to Enlarge Name: eurotarget.png Size: 36 KB
  • #109,803
  • Jun 12, 2009 8:57am Jun 12, 2009 8:57am
Quoting Turveyd
Forget your SL whats important is profiting in the first place, SL is only useful if your planning to LOSE.


So place your trade, and regardless of in profit or loss the 2nd your trade isn't working and it's going against you EXIT, and unlike a SL you can look for a better price.

Won't always work, big occasional losses are expected, but big and occasional is better than small and annoyingly confidence killing missing all the runs small and frequent.

And thats my 1st rant of the day

I hate SL's
Hmmm. Reason you hate SL is reason just about everyone hates SL's. They get hit. Not taking anything away from you on how you place and exit your trade, but most people plan to win, not to lose. And we all know what happens to the majority. In trading, minority rules. Plan to lose is what I say. That way you get your entries right, and exits right and the profits will take care of themselves, though frequently not to the maximum or even near at times. Whether one uses Sl's or not, well that's debatable, but plan to lose. I believe Larry Williams says when he enters a trade he thinks it's going to lose.
My rant.
  • #109,804
  • Jun 12, 2009 8:57am Jun 12, 2009 8:57am
Our 4 hr head and shoulders plus the lower channel trendline break provide a bearish bias with a projected target of a correction at least to the daily trendline at around the 3550 level. Ill be looking to short at resistence next week
Attached Image (click to enlarge)
Click to Enlarge Name: 4gif.gif Size: 26 KB
BTC Return This Year: na
  • #109,805
  • Jun 12, 2009 9:00am Jun 12, 2009 9:00am
Price posing break great tl 1.3947 again & again & i keep my short going . If successfull then 1.38 should be the next stop.

fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #109,806
  • Jun 12, 2009 9:00am Jun 12, 2009 9:00am
Quoting cdforex
Well the guy lost his account in 1 day: got in a bad trade and kept praying the market will turn around,.... how's praying for a SL?

In my opinion, he has 4 options: quit FX, paper trade, keep praying or using SL since he does not seem to know what the hell he is doing...

He'd of likely being stubborn on unwanting to lose, of hit the SL 5 times at the lows, got back in at a worse price and actually blown his account quicker, been there done that.

We all get bad days, no need to quit but definately back to demo ( not like he's got a choice about this ), what he needs to learn is, if he's against the trend it likely won't change, switch positions, but it's way to easy to sit there in disbelief and HOPE for it to change.

HOPE is the killer, abandon all hope
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #109,807
  • Jun 12, 2009 9:02am Jun 12, 2009 9:02am
Be careful ,obv is now following the downtrend
{Promotion Removed}
  • #109,808
  • Jun 12, 2009 9:03am Jun 12, 2009 9:03am
be careful obv is NOT following the downtrend
{Promotion Removed}
  • #109,809
  • Jun 12, 2009 9:03am Jun 12, 2009 9:03am
The market has not hit the lower track. longs favoured as weakness coming in and market extended.
  • #109,810
  • Jun 12, 2009 9:04am Jun 12, 2009 9:04am
Quoting Atlast
Hmmm. Reason you hate SL is reason just about everyone hates SL's. They get hit. Not taking anything away from you on how you place and exit your trade, but most people plan to win, not to lose. And we all know what happens to the majority. In trading, minority rules. Plan to lose is what I say. That way you get your entries right, and exits right and the profits will take care of themselves, though frequently not to the maximum or even near at times. Whether one uses Sl's or not, well that's debatable, but plan to lose. I believe Larry Williams...

Yep the Majority Lose and the Majority use stops.

I'm using a Range system at the moment, so although I can and do slip into losses, I rarely don't get a chance to get out small profit or smaller loss than a SL would give me, where as I find SL's hit frequently and just draw my account to nothing.

I have a SL it's 30, thats my worst case and it's unhit this week, 15SL just slaughtered me, death by 1000 cuts.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #109,811
  • Jun 12, 2009 9:06am Jun 12, 2009 9:06am
Quoting trendman
be careful obv is NOT following the downtrend
Thanks for the information , in that case sl will do the next stop.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #109,812
  • Jun 12, 2009 9:10am Jun 12, 2009 9:10am
earlier on there was a guy who was asking and asking about will it go back to 1.41 he longed from there..hope he survived
  • #109,813
  • Jun 12, 2009 9:10am Jun 12, 2009 9:10am
Quoting Atlast
The market has not hit the lower track. longs favoured as weakness coming in and market extended.
Caution to those following blindly. Weakness in Gold and Oil favour Shorts.

For the record I'm flat on this pair but I'm short both Oil and Gold as it is Friday and certaily some profits will be realized by the longs from the past.

Both in the gree and SL at BE.

If you think this is a after the fact post have a look at a dialogue I had lst evening with AK4x. Clearly said what was my plan.
  • #109,814
  • Jun 12, 2009 9:13am Jun 12, 2009 9:13am
Quoting toshi
Well, I've done some analysis and here's my target:

Wouldn't even surprise me if it happened today (somewhat doubtful, though possible)
or atleast by the close of business Monday. Let's let the market do what it does best: move
I'd like to see how it handles the 1.3840 area. Keep up the analysis.
  • #109,815
  • Jun 12, 2009 9:15am Jun 12, 2009 9:15am
Quoting Maxsmart
As far as the Euro goes. I wanted to point out a few things as we see a potential head and shoulders pattern on the 4 hour chart with the neckline at about 1.38 targeting 1.34-35. So even though I do have many comments on other currency pairs I will cirumscribe my comments to the EUR/USD tonight.....
Maxsmart, just wanted to say great writeup ! Thanks for your insight !

~Ody
~Ody
  • #109,816
  • Jun 12, 2009 9:17am Jun 12, 2009 9:17am
toshi i have same thing in my mind...
Attached Image (click to enlarge)
Click to Enlarge Name: triangle.gif Size: 17 KB
  • #109,817
  • Jun 12, 2009 9:25am Jun 12, 2009 9:25am
Quoting Alihuzaifa
toshi i have same thing in my mind...
Gosh, how many H&S do you guys want in a week.
  • #109,818
  • Jun 12, 2009 9:25am Jun 12, 2009 9:25am
Quoting Ody
Maxsmart, just wanted to say great writeup ! Thanks for your insight !

~Ody
Thanks Ody
  • #109,819
  • Jun 12, 2009 9:30am Jun 12, 2009 9:30am
Quoting Alihuzaifa
yeah shame on every one...

thankfully whole day i was not present here
You should read the hole story. Fastest account wipe in FX history. The man kept crying to get help, the guys kept telling him to close position. In the end, nobody helped him.
  • #109,820
  • Edited 9:45am Jun 12, 2009 9:30am | Edited 9:45am
Quoting gatorinla
ok folks did my home work if you can short at 4193.. nike it.. 57 pip sl..were gonna go down unless there a pipeline bomb or war or something..if its war depends on whos involved...pipeline and we go up. 3054 is in the tea leaves..

repost..may have missed the boat.but there is lots of time.. be nimble. im unloading the boat on the bottoms and reloading peeks..

S/r 4089 4060 4033 3999 each close below 3831 is more bearish and comfirms move shorter term move...watch this how we act on this pullback to around 3999.. look for a bounce lower..be careful.. this move has been in the making years... a couple of hundred pips is a snack..not for the meek.. closes below 3793 area are safer..

p.s. if 3999 dont hold go to next number..
those who can, do. those who cant, talk about those who can
530 traders viewing now, 1 is registered:
Jewel1996