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  • #135,361
  • Aug 26, 2009 3:05pm Aug 26, 2009 3:05pm
Quoting welshguy2000
Evening All,

I've just uploaded the video review of my latest trade which I entered on the 20th of Aug 2009. I have tried to cover / teach you people about belt holding candle patterns.

http://www.youtube.com/watch?v=mHaGoBNYmH0

Please comment / rate on the video as it helps others learn.

Cheers WG
I'm always happy with content on this thread.
Close your eyes when you feel you are going under.
  • #135,362
  • Aug 26, 2009 3:15pm Aug 26, 2009 3:15pm
Quoting Atlast
Above 1.4263 and it's fairly plain sailing to 1.4300. 3 hours to go.
based on 38.2 fibonaci retracement?
Close your eyes when you feel you are going under.
  • #135,363
  • Aug 26, 2009 3:28pm Aug 26, 2009 3:28pm
Quoting major-major
I am in a bit of bother. I bought the pair at 1.4322 and it has been going against me very rapidly.
Now i know this is not good MM, but would there be any chance of it even getting close to that level?

Now i have sold this pair at 1.4207, so realistically how far is it going to continue going downwards (what price level)?

What were you thinking ? I'm sorry, I shouldn't say it like that.
I have done the same thing before and in many cases, no good ever came of it.
A few times I turned it around and actually made money by breaking the rules.

What you should have done is either:
1) sold the 1st position, since you were selling, and accepted the loss, or
2) done nothing, since that was what you were doing up until 14207.

Don't want to kick a man when he's down. That's not me.

But I don't want to pet your head and tell you it's alright because it's not good to do things like this.

What if it was 10 lots and you were down 10 grand ?

If you ever want to find out one day, you can't trade like this going forward.

I agree with forbes. Not necessarily which one to close, one way or the other.
I mean pick a side, stick to it. have a stop. stick to it. have a plan. stick to it.

We're in a range of late. probably wouldn't matter which side you picked,
since we're just bouncing up and down lately. Anything could print.

That will end soon. Gawd I'm praying.......but, I digress.

Anyway, If this killed you account like 115 pips at 200:1 leverage or something,
I woulnd't make alot of effort to salvage a really clusterf**ked situation.
Chalk it up as experience. If it's not as bad as all that, then
there's probably plenty of opportunity to fix what's broken....depending on:

How much (in percentage terms) does this 115 pip drawdown represent ?

If 10% or less, don't worry about it. Your still fine.
20 or 30%, you gotta problem but, can still be solved.
50% or more....you got a long way to go.

If I keep yakkin', you might think I'm picking on you. and I'm not.
Just trying to help you wake up. Go get an expresso. It'll pep you up...

When you feel better, come on back in a bit and everyone can spew some wisdom for you.
We're a really happy bunch over here.....Be good.
  • #135,364
  • Edited 3:35pm Aug 26, 2009 3:30pm | Edited 3:35pm
Quoting Atlast
Above 1.4263 and it's fairly plain sailing to 1.4300. 3 hours to go.
Watch 4276, 50% retrace + 4280 resistance. Could bounce back down into a 70 point range or could fall lower. I do think your longs will turn green by next week though.
  • #135,365
  • Aug 26, 2009 3:37pm Aug 26, 2009 3:37pm
major-major. On what basis did you open your long? Did you study charts or listened to some one here to open the trade? How come you dont use SL? Are you a scalper or position traders? Do you have a trade plan? Do you have strategy? Do you have good MM? You have to answer these questions before even attempting to trade. I have said here thousands of times in the past study your chart study your chart. As far as your trade is concerned it all depends on your trading style and technicals. If you are a position trader and have 1-3 month horizon then you shuold be ok. If you are a scalper with hourly horizon then you may want to close this trade you can always make it back if you place your trade correctly. These are some of the questions you need to ask yourself don't listen to some idiot including me in this forum and base your trades on that. I think price is going to consolidate here till tomo's GDP number. They may spike it up above your price tomo but in the short term we are going to see EU going down to probably 1.38 but again don't listen to me study charts
  • #135,366
  • Aug 26, 2009 3:40pm Aug 26, 2009 3:40pm
Quoting toshi
What were you thinking ? I'm sorry, I shouldn't say it like that.
I have done the same thing before and in many cases, no good ever came of it.
A few times I turned it around and actually made money by breaking the rules.

What you should have done is either:
1) sold the 1st position, since you were selling, and accepted the loss, or
2) done nothing, since that was what you were doing up until 14207.

Don't want to kick a man when he's down. That's not me.

But I don't want to pet your head and tell you it's alright because it's not good to do...
Well written..
  • #135,367
  • Aug 26, 2009 3:42pm Aug 26, 2009 3:42pm
Quoting vinesh2
major-major......don't listen to some idiot
including me in this forum and base your trades on that. ......
I think price is going to consolidate here till tomo's GDP number.
They may spike it up above your price tomo but in the short term
we are going to see EU going down to probably 1.38 but again
don't listen to me study charts
I'm probably a bigger idiot than you ! I told him to go get an expresso !
....then everything would work out okay.....


Damn, don't ever listen to me.
  • #135,368
  • Aug 26, 2009 3:46pm Aug 26, 2009 3:46pm
Quoting stevefx
Watch 4176, 50% retrace + 4280 resistance. Could bounce back down into a 70 point range or could fall lower. I do think your longs will turn green by next week though.
Agree. I still keep playing my strategy
http://www.forexfactory.com/showpost...stcount=133891

Next week up again as dealers will be dumping US treasuries. I’m playing this game cautiously because of rumors that indexes will crush next quarter. In that case there could be another flight to safety, that’s USD. Besides that FED has been constantly withdrawing liquidity

http://www.marketwatch.com/story/the...wal-2009-08-25
  • #135,369
  • Aug 26, 2009 3:46pm Aug 26, 2009 3:46pm
Quoting Dazzer
Well written..
Thank you. I know exactly how he feels. You never forget that feeling in the pit of your stomach.
I don't care if it was years ago, or last week, you never shake it. And that's good, because
that way you remind yourself , "...no, no, no...don't do that...."
  • #135,370
  • Aug 26, 2009 3:47pm Aug 26, 2009 3:47pm
5 min chart shows the erect penis formation.
Attached Image
  • #135,371
  • Aug 26, 2009 3:53pm Aug 26, 2009 3:53pm
Quoting toshi
For whinos, the dude with the huge chart.....

Dude,

You got filled at 14249. Good for you!!!

EDIT: oops, looks like they kicked you out.

I'm sorry man.

I did try to help you fix it B4 the thread went kaflooey.

Anyway, you'll get back in. We'll call you Moe junior or something.....(inside joke)

Keep watching the thread.
Hi toshi, why im ban from forexfactory forums ???
Im progamer of trade sistem, i have experience on trade options, Bovespa anda forex and i dont undestand why.

I write to all, sorry , about my large charts.
Idont write any bullshit, i came here to learn and to teach any information about trades.

thanks


and sorry about my english, its not very well
My English its not very well, be patient
  • #135,372
  • Aug 26, 2009 3:55pm Aug 26, 2009 3:55pm
Quoting stevefx
5 min chart shows the erect penis formation.
So blow-off is imminent?
  • #135,373
  • Aug 26, 2009 3:57pm Aug 26, 2009 3:57pm
Quoting stevefx
5 min chart shows the erect penis formation.
Yeah, if it stays like that for more than 4 hours aren't we sposed to call somebody?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #135,374
  • Aug 26, 2009 3:57pm Aug 26, 2009 3:57pm
Quoting pqt
So blow-off is imminent?
Well lets just say one way or another somebody's gonna get f'd...
  • #135,375
  • Aug 26, 2009 3:59pm Aug 26, 2009 3:59pm
Quoting toshi
Thank you. I know exactly how he feels. You never forget that feeling in the pit of your stomach.
I don't care if it was years ago, or last week, you never shake it. And that's good, because
that way you remind yourself , "...no, no, no...don't do that...."
No kidding! about three years ago, i lost about $700 in about 5 minutes. feels just like it was yesterday and i've never let it happen again. that might seem like peanuts to some of you guys but that was a lot of money to me. there's no way i would put that much money at risk on one trade now.
  • #135,376
  • Aug 26, 2009 3:59pm Aug 26, 2009 3:59pm
Quoting stevefx
5 min chart shows the erect penis formation.
Actually that's a low volume, short covering, position-squaring, end of day grind.

But we can use our imagination and insist that it's an "EP" Formation.

What I do want to share is, once again, the other side of the looking glass: THE SWISSY

Look at this formation. Many of you recognize it. You call it camels and dogs and
all kinds of other shit. So many things, I don't even know them all.

But, one thing in common, they're usually short-term bullish.
Sometimes there's a little delayed reaction. Sometimes even, the pattern fails.
But if it goes according to the pattern, the Dollar Swiss should have a small setback,
then a decent rally, 1 or 2 percent, and then probably fall on it's ass.. or arse if you're so inclined.

If the Dollar Swiss does this, then as the highly inversely correlated EUR/USD trades,
it should do the opposite. Opperative word is should. Every now and then, the unexpected happens.
Attached Image (click to enlarge)
Click to Enlarge Name: dog.PNG Size: 39 KB
  • #135,377
  • Aug 26, 2009 4:02pm Aug 26, 2009 4:02pm
Quoting The Fool
Yeah, if it stays like that for more than 4 hours aren't we sposed to call somebody?
yeah somebody forgot to read the prescription-man sometimes i think these formations are mass psychological projections...shows you whats on peoples minds out there...
  • #135,378
  • Aug 26, 2009 4:02pm Aug 26, 2009 4:02pm
Quoting pqt
So blow-off is imminent?

Why are you drooling on the penis chart ????

= drooling on the penis chart.

It's sticky enough as it is....We don't need to get slobber all over it too. Geez.
  • #135,379
  • Aug 26, 2009 4:07pm Aug 26, 2009 4:07pm
stop touching your erected penis and it will rise more even till 4350 maybe
ROBOT FOREX
  • #135,380
  • Aug 26, 2009 4:09pm Aug 26, 2009 4:09pm
Quoting lukaszg14
Agree. I still keep playing my strategy
http://www.forexfactory.com/showpost...stcount=133891

Next week up again as dealers will be dumping US treasuries. I’m playing this game cautiously because of rumors that indexes will crush next quarter. In that case there could be another flight to safety, that’s USD. Besides that FED has been constantly withdrawing liquidity

http://www.marketwatch.com/story/the...wal-2009-08-25
I can see where you are coming from. However, why do you think the issue due for auction next week is more important that the ones auctioned off this and past week? $199B just this week alone.
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