Break-out? I'll give you the easiest of the easiest without having to draw complicated and always inaccurate trend-lines: watch for the ol' BB. Whenever it's out of 2 sigma - watch out. When it touches 3 sigma it's a break out. Keep it simple.
- #121,381
- Jul 14, 2009 10:00am Jul 14, 2009 10:00am
- | Membership Revoked | Joined Oct 2008 | 2,791 Posts
- #121,382
- Jul 14, 2009 10:02am Jul 14, 2009 10:02am
- | Commercial User | Joined Aug 2008 | 7,691 Posts
- #121,383
- Jul 14, 2009 10:03am Jul 14, 2009 10:03am
- | Joined Dec 2008 | Status: revisit | 1,896 Posts
Nope, that's why I'm ultra tight with the SL
But since EUR is my currency, I have to have some faith in it, no?
Read this man...
http://www.forexfactory.com/showpost...&postcount=149
- #121,386
- Jul 14, 2009 10:05am Jul 14, 2009 10:05am
- | Membership Revoked | Joined Oct 2008 | 2,791 Posts
We'll this one is in fact for real. The sell in my opinion so far is weak and that's why i'm in.
R.I.P
- #121,387
- Jul 14, 2009 10:05am Jul 14, 2009 10:05am
- | Joined May 2009 | Status: Fight until we die | 1,114 Posts
explain little bit more
However I don't trade break-outs, I merely watch BB to get a hold of what PA is doing. If someone knows how to successfully trade a break-out (without prior bet/fundamental positioning) please share.
- #121,388
- Jul 14, 2009 10:07am Jul 14, 2009 10:07am
If u r an ultra rich person...I guess that you don't mind to be in a losing position now...oh my....
Read this man...
http://www.forexfactory.com/showpost...&postcount=149
You lose some, win some. The point is to survive in the long term, right?
Greed and impatience are our greatest enemies.
- #121,389
- Jul 14, 2009 10:08am Jul 14, 2009 10:08am
- | Membership Revoked | Joined Oct 2008 | 2,791 Posts
C'mon. That's as old as technical trading man. The price moves within the bands and have a normal distribution. Any normal distribution has a standard deviation - sigma. Most of the times price stays within 2 sigma. When it's out of 2 sigma, the price is on the move, dragging the sma with it hence that's when trending is starting. 3 sigma is a <1% event and by BB theory once price has moved so far out of the normal distribution it will go further. For me a break out is when price hits 3 sigma. It's usually just before breaking a SR level or pivot...
- #121,390
- Jul 14, 2009 10:11am Jul 14, 2009 10:11am
- | Joined Dec 2008 | Status: revisit | 1,896 Posts
We'll losing is a part of life. I lose money everyday when I go for lunch, let's not speak about failed business opportunities...
You lose some, win some. The point is to survive in the long term, right?
But if you are just the same like the rest of us here (day trader)... surviving in a short term is the key of success for surviving in the long long run...
But it is all up to you man....that's your money...so all the best...!!!
- #121,392
- Jul 14, 2009 10:15am Jul 14, 2009 10:15am
I'm not really a big player, in forex terms i'm a mouse.
Anyway I have to leave the office now and head home, what happend to my positions, you ask. Well since I can't be here for them I closed most. I let a little part keep on, with SL @ 1,3937.
Wish me luck
Edit: Oh, i've just closed 2/3 of the rest @ 1,3961 and moved SL to BE. TP 1,3977. Have a nice one ppl.
Anyway I have to leave the office now and head home, what happend to my positions, you ask. Well since I can't be here for them I closed most. I let a little part keep on, with SL @ 1,3937.
Wish me luck
Edit: Oh, i've just closed 2/3 of the rest @ 1,3961 and moved SL to BE. TP 1,3977. Have a nice one ppl.
Greed and impatience are our greatest enemies.
- #121,394
- Jul 14, 2009 10:15am Jul 14, 2009 10:15am
- | Joined Aug 2006 | Status: Trader | 1,355 Posts
We'll losing is a part of life. I lose money everyday when I go for lunch, let's not speak about failed business opportunities...
You lose some, win some. The point is to survive in the long term, right?
Getting it right is NOT as important as not getting it wrong.
- #121,397
- Jul 14, 2009 10:31am Jul 14, 2009 10:31am
- | Joined May 2009 | Status: Fight until we die | 1,114 Posts
- #121,398
- Jul 14, 2009 10:31am Jul 14, 2009 10:31am
- | Membership Revoked | Joined Oct 2008 | 2,791 Posts
- #121,399
- Jul 14, 2009 10:52am Jul 14, 2009 10:52am
- | Joined Aug 2006 | Status: Trader | 1,355 Posts
Looks like bears stumbled on a pocket of bulls...
I'm ready for a small short covering rally market, let's gooooo
Ok, I go take my medication
I'm ready for a small short covering rally market, let's gooooo
Ok, I go take my medication
Getting it right is NOT as important as not getting it wrong.
- #121,400
- Jul 14, 2009 10:56am Jul 14, 2009 10:56am
- Joined Oct 2008 | Status: sideline is a position | 105,125 Posts
those who can, do. those who cant, talk about those who can