EURUSD | Page 6591 | 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

  • #131,801
  • Aug 14, 2009 3:10pm Aug 14, 2009 3:10pm
Nearly finished up a doji on the weeky. Still bearish for the next few weeks.

We'll see as ever.


Have a good weekend everyone
  • #131,802
  • Edited 3:27pm Aug 14, 2009 3:10pm | Edited 3:27pm
Quoting Dazzer
Great post. Enjoy your weekend
Thanks Dazzer. You too.
The Thief of Wall Street
  • #131,803
  • Aug 14, 2009 3:12pm Aug 14, 2009 3:12pm
Quoting Chicky
You are right. This is no rocket science. In My Fu%kin But Humble Opinion (IMFHO) this approach will never work in forex (let people criticize it as much as they can) because "Cut your Losses and Let Your Profits Run" is only true for position trading in stocks and that also over the period of a major trend in normal market conditions with some sort of risk diversification mechanism.

Forex is a different market. One should not try to forcefully fit here what is true for other markets.

Any unrealized loss within the boundary from...
Excellent analysis and well written. This is EXACTLY my forex mantra. I've said it before...MM is EXTREMELY important and a well funded account utilizing small trades is what has always worked for me. Yes, I have been down quite a few pips on many trades, but I just sit tight and wait. Worst case scenario is that I break even. If your analysis is well thought out (and hopefully correct) your account can take those "opposite my trade" punches in the stomach, and you will never have to realize a loss. It can be stressful, but you get used to it. And when things go right, don't be afraid to take that 20-50% profit, whether achieved in an hour or in a week. Profit is profit. A single 100 positive pip trade is nice, but five 25 positive pip trades is better. I always look at my account's gained percentage first, then I look at how much money I made. If I'm plus on percentage, chances are I'm in the green too.
Si vis pacem, para bellum.
  • #131,804
  • Aug 14, 2009 3:20pm Aug 14, 2009 3:20pm
Quoting Duce
Excellent analysis and well written. This is EXACTLY my forex mantra. I've said it before...MM is EXTREMELY important and a well funded account utilizing small trades is what has always worked for me. Yes, I have been down quite a few pips on many trades, but I just sit tight and wait. Worst case scenario is that I break even. If your analysis is well thought out (and hopefully correct) your account can take those "opposite my trade" punches in the stomach, and you will never have to realize a loss. It can be stressful, but you get used to it....
You have it. THIS IS the forex grail everyone is looking for.
The Thief of Wall Street
  • #131,805
  • Aug 14, 2009 3:42pm Aug 14, 2009 3:42pm
Have a good weekend everyone, chill out and enjoy the fruits of your hard work this week. If you've had a losing week, take some time off and come back refreshed.
  • #131,806
  • Aug 14, 2009 3:43pm Aug 14, 2009 3:43pm
Quoting Duce
Excellent analysis and well written....
Sometimes this thread gets filled with a lot of shit, but the last few posts from Chicky and the one here remind me why I like to contribute.

You just have to keep going, picking off little bits as you go. Its absolutely not the amount of pips, I care least about pips. Its percentage growth on your account from the previous month that determines how you're doing.

If you start with 1000, pay in 200 per month and get a 5% return monthly, you'll have 1.74 million in 10 years...

Anyway, thats it. Bye everyone see you Monday.

Dazzer
  • #131,807
  • Aug 14, 2009 9:28pm Aug 14, 2009 9:28pm
Quoting Mackeymax
please share again what your monthly pivot is .....


thanks,

mm
I actually closed down early... which was a fukin mistake.

It hit the monthly and moved up.

I bought at the monthly... scalping of course and closed down several lots for small loss.

Anyhow....4166. (purple line on the chart... the other are dailies.)

I've attached my chart.

Mike
Attached Image (click to enlarge)
Click to Enlarge Name: pivots.gif Size: 18 KB
  • #131,808
  • Aug 14, 2009 9:40pm Aug 14, 2009 9:40pm
Quoting Duce
Excellent analysis and well written....
Risk management... 'money management' is the single most import facet to longevity in this game.

If you can consistently hit singles in this game you never have to hit a home run or a even a triple.

Mike

Post by 'Duce' below:

Excellent analysis and well written. This is EXACTLY my forex mantra. I've said it before...MM is EXTREMELY important and a well funded account utilizing small trades is what has always worked for me. Yes, I have been down quite a few pips on many trades, but I just sit tight and wait. Worst case scenario is that I break even. If your analysis is well thought out (and hopefully correct) your account can take those "opposite my trade" punches in the stomach, and you will never have to realize a loss. It can be stressful, but you get used to it. And when things go right, don't be afraid to take that 20-50% profit, whether achieved in an hour or in a week. Profit is profit. A single 100 positive pip trade is nice, but five 25 positive pip trades is better. I always look at my account's gained percentage first, then I look at how much money I made. If I'm plus on percentage, chances are I'm in the green too.
  • #131,809
  • Aug 14, 2009 9:56pm Aug 14, 2009 9:56pm
Day chart showing horizontal ranging looking for a break at 1.4090. once break it will go down...
in short(looking short)

4H chart showing raning at 1.4300~1.4105. Price retrace from 1.4327.... Fibo breaks 61.8 (1.4086~1.4327)
in short (looking short)

1h chart.
S/R: 1.4218, 1.4200, 1.4184, 1.4155(strong)

monday strategy. overall trend looking short for all chart.
waiting price to retrace from low to high around 1.4200, then sell and look for 1.4160.

Pending Sell at 1.4200, tp 1.4160, sl 1.4230
Attached Image
  • #131,810
  • Aug 14, 2009 10:25pm Aug 14, 2009 10:25pm
Mike dont forget last year, i am the counter trend guy so every moment i will be against u
We are heading to parity only question is when.
Do u remember funny/magic number for oil ? 70$/b ?
seems it god res atm.
  • #131,811
  • Aug 14, 2009 10:31pm Aug 14, 2009 10:31pm
Quoting 5ysfx
... dont forget last year, i am the counter trend guy .......

There you are. I was looking for you . Just sent you Pm
  • #131,812
  • Aug 14, 2009 11:01pm Aug 14, 2009 11:01pm
weekends .. time for rest
  • #131,813
  • Aug 14, 2009 11:03pm Aug 14, 2009 11:03pm
can anyone see what its gapped up or down to after the close?

Cheers
  • #131,814
  • Aug 14, 2009 11:14pm Aug 14, 2009 11:14pm
There's nothing since 5PM NYC time, per my broker, the O. 1.42030.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #131,815
  • Aug 14, 2009 11:43pm Aug 14, 2009 11:43pm
daily pivot point is now 1.4224 daily resistence now R1 1.4288 R2 1.4372 R3 1.4436 daily support now at S1 1.4140 , s2 1.4076 S3 1.3992 seeing we closed at 1.4203

id say we are going to test 1.4140 monday
  • #131,816
  • Aug 14, 2009 11:45pm Aug 14, 2009 11:45pm
Quoting knuckledrag
Are you still playing that way?
I haven't been keeping up lately so I'm not sure whats in your trade journal, but I bet it has nothing to do with scalping

Just thought I'd give my point of view. Nothing fancy with a simple plan (when the trend is up buy pullbacks--when the trend is down sell pullbacks)

Good luck buddy.
Sorry Knuck, I earlier missed your this post.

No. I have completely changed my method. I am now just a petty thief, stealing petty amounts from several trillions that daily circulate in Wall Street. I steal when no one is looking on pullbacks, breaks, bounces, etc. i.e. whenever there is a possible opportunity and coin is slightly unbalanced.

I have an appointment on Sunday with one senior and experienced trader. He has kindly agreed to evaluate my new method and help me overcome some administrative hurdles.

I am really grateful for the guidance I received from you and few others on my help call few months ago.
The Thief of Wall Street
  • #131,817
  • Aug 14, 2009 11:58pm Aug 14, 2009 11:58pm
Morning , hope everybody won good pips & have good weekend.This is the week for many diamonds & almost perfect predictable movements & so unusual. take some rest specially for the eyes & back & enjoy .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #131,818
  • Aug 15, 2009 12:08am Aug 15, 2009 12:08am
Quoting Alihuzaifa
you make me remember one of my friend....he started forex with 100k,on the first day he made arround 3k,he was so excited,then he kept of trading with high volume and without any analysis thinking he will never lose,belive me in just 45 days he lost his account.

he also kept on hedging his losing trades and finally was no where LOL
Sorry Ali, I went to bed and found this post while reviewing this thread.

You reminded me of a similar incident. In spring 2007, when I was based in Pakistan, one of my friends from Chicago spent about a week there with me. First day he earned $2,500 on an account of $50,000, trading stocks. In next four days he lost more than $35,000. This is the only logical end one should expect for palying with positions very heavy as comapared to account size.
The Thief of Wall Street
  • #131,819
  • Aug 15, 2009 12:09am Aug 15, 2009 12:09am
Weekly Roundup:

Here's what I'm looking at for Sunday. I TP at 4173 and closed the dog I opened at 4132, so I'm looking for a pullback and re-entry. Many others I assume are in the same position.

If the market just sells off at opening there's nothing to be done but watch and wait.

If the right shoulder tries to recover some of its integrity however, the chart shows three entry points for Sells. 4240, 4270, and 4315. These numbers represent general levels, so use common sense as to exact entry points.
For this I will divide total amount I'm willing to trade into 6 units. 1 unit entry at 4240, 2 units at 4270, and 3 units at 4315.

My TP 4115-4130 area. Good Luck and a pleasant weekend to all.
Attached Image (click to enlarge)
Click to Enlarge Name: headshoulderstudy2.png Size: 366 KB
  • #131,820
  • Aug 15, 2009 12:20am Aug 15, 2009 12:20am
Quoting stevefx
Weekly Roundup:

Here's what I'm looking at for Sunday. I TP at 4173 and closed the dog I opened at 4132, so I'm looking for a pullback and re-entry. Many others I assume are in the same position.
Yep, I have three shorts open, lowest one way down at .4141 - since FOMC!. I shorted multiple times on the fall from .43xx and banked quite a bit. I plan on holding the remainders & I expect this backslide to be longer than a 1-day deal.

Good luck all & have a happy weekend.
"If The Fool persists in his Folly he will become wise." - William Blake
2,717 traders viewing now