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  • #183,541
  • Jan 21, 2010 12:23pm Jan 21, 2010 12:23pm
Quoting PriceVolume
Never try and catch a falling knife. If you missed the move, then so be it.....the prudent thing to do in such cases is wait until price pullbacks or hesitates for a few bars, and then enter on resumption and breakout. As far as a retracement - you should be looking for an impulsive move, and then a pullback...then enter on the retracement. Otherwise, you're just trying to call a top or bottom. Good luck!
That's right. Better, No plan, No entering.

Quoting 4exJunki
I hope you not calling me a bad trader...?? I am a full time day trader. Its my job and i trade on behalf of clients too.

I accept losses hence i saved enough in my account for tomorrow (trading maturity). I could afford a 200pip loss.

Why 200 pips, even your account can afford it? Yesterday i was wrong in EUR/USD, lost 70 pips. Today another plan but with USD/JPY winning 130 pips. No need to have big drawdown. When you get wrong, analyze your charts, and you discover what did not function. That's what i did. Why trying beating the market, or entering in a hurry? Forex is full of opportunities. You miss one, you'll find an other, but what you never have to miss, is your own money.
No Signal, No Trade. No fundamenals, No headache.
  • #183,542
  • Jan 21, 2010 12:23pm Jan 21, 2010 12:23pm
Quoting PriceVolume
I don't. I expect losses. I can't afford to get annoyed by a loss, because it opens the door to getting emotional. I play the probabilities, knowing that with my edge I will win more than I lose, and will win more often than I lose. As for 200 pips being too much - that depends on what timeframe you are trading. On a weekly chart, 200 pips is nothing. What matters is that you ensure that you are not overleveraged and that your exposure risk per trade is reasonable.

I use the 15min and 1HR time frames. Trade S&R with the expectation that the market will move a max of 180pips during the euro (GMT +2 at 9am) and ny sessions combined with a min retrace of 50 pips. I only trade once the price has moved 80 pips in one direction and lands on my nearest S&R. I am counter trend trader.

ie: My 1st entry point today was at 1.4030 for a buy, a sell at 1.4106 (bearish divergence on M15 and 76pip move from bottom situated on R line), 3rd was a buy at 1.4028 again (1 pip above morning support price)

All 3 trades netted TP of 30 pips combined. thats 3% return of investment.
  • #183,543
  • Jan 21, 2010 12:26pm Jan 21, 2010 12:26pm
im waiting for a touch of the downward line before shorting it...
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  • #183,544
  • Jan 21, 2010 12:38pm Jan 21, 2010 12:38pm
wtf is going on this morning where is EUR getting its strength?
why isn't the price level dropping?
  • #183,545
  • Jan 21, 2010 12:41pm Jan 21, 2010 12:41pm
Quoting 4exJunki
A 200pip loss is a big thing for me. Usually i would cut my losses on 20-30 pips. Was stopped out 2ce in a year at 100pips each.

But then again i only trade the eurusd. I do day trade full time. U dont necesarrily have to believe me; after all u dont know me.

btw: anyone who doesnt get annoyed at a 200pip loss please stand up regardless of the period you been trading for...
If 200 pips is BIG for you and you usually cut your losses at 20-30 pips, that leaves me the imression that you are not using a SL correctly. The whole point of a stop loss is that you enter it BEFORE you make the trade or straight after having entered it. There's no point adding a SL after you've already lost 180 pips. That and your attitude toward losses leaves me the impression that you are not a professional trader. I don't have to know you to come to that conclusion. Go and improve your money management skills, you will feel better after that. This is not a game, it's a business. I'm a fledgling trader myself (been trading for around 2 years) and I know how bad it feels to lose in the beginning. You have to get past that. I could wish you many pips but we both know that wishing is not enough, you have to do the work. Anyway, good luck.
If you don't risk, you don't ever have to lose.
  • #183,546
  • Jan 21, 2010 12:41pm Jan 21, 2010 12:41pm
is making a range now between 14150 and 14000 this will make little dodgy on month cart like before den can go down or up i think it will go down 3600 then up

what is the defalt pixal for picture save anyone please
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  • #183,547
  • Jan 21, 2010 12:45pm Jan 21, 2010 12:45pm
i think i'm just tired... going to sleep take care...
what a choppy trading day
  • #183,548
  • Jan 21, 2010 12:48pm Jan 21, 2010 12:48pm
Is some place where I can see gold and US index without registering?
  • #183,549
  • Jan 21, 2010 12:51pm Jan 21, 2010 12:51pm
Quoting Fibo_trader
Is some place where I can see gold and US index without registering?
dailyfx.com would be a good start for gold. Not sure of USDx...I use an indy for that.
  • #183,550
  • Jan 21, 2010 12:51pm Jan 21, 2010 12:51pm
http://www.netdania.com/Products/liv...anceChart.aspx

does that work?
  • #183,551
  • Jan 21, 2010 12:51pm Jan 21, 2010 12:51pm
Quoting gatorinla
gold 1065 then lower... just speculation..
Right, then lower to 1200$/oz

Currencies: USD, EUR, JPY are all bad, USD the worse

and GOLD will kill them all soon.
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #183,552
  • Jan 21, 2010 12:52pm Jan 21, 2010 12:52pm
it have nice support to go 1.43 but euro is too weak for this..
  • #183,553
  • Jan 21, 2010 12:53pm Jan 21, 2010 12:53pm
Quoting bug
If 200 pips is BIG for you and you usually cut your losses at 20-30 pips, that leaves me the imression that you are not using a SL correctly. The whole point of a stop loss is that you enter it BEFORE you make the trade or straight after having entered it. There's no point adding a SL after you've already lost 180 pips. That and your attitude toward losses leaves me the impression that you are not a professional trader. I don't have to know you to come to that conclusion. Go and improve your money management skills, you will feel better after that....

for a fledgling trader u got a fat lot to say; says alot about your maturity. Stop pushing me down cos i shared my experiences on here and stick to trading!

Sheesh...

PS: on the eurusd i would cut my losses at 20-30pips. If you had any inkling of experience of trading the GBPJPY you would know that 30pips in that pair is like 10 on a EURUSD. It takes balls to cut losses. I have the balls and the maturity. I speak openly about my losses. I didnt come on this forum boasting about how good i am. Merely sharing my trading experience for the afternoon. Be nice.
  • #183,554
  • Jan 21, 2010 1:04pm Jan 21, 2010 1:04pm
Quoting 4exJunki
for a fledgling trader u got a fat lot to say; says alot about your maturity. Stop pushing me down cos i shared my experiences on here and stick to trading!

Sheesh...

PS: on the eurusd i would cut my losses at 20-30pips. If you had any inkling of experience of trading the GBPJPY you would know that 30pips in that pair is like 10 on a EURUSD. It takes balls to cut losses. I have the balls and the maturity. I speak openly about my losses. I didnt come on this forum boasting about how good i am. Merely sharing my trading experience for the afternoon....
Oh..yes..the almighty maturity argument. Go check the number of exclamation and question marks on your previous posts and then talk about maturity.
PS. I don't trade GY. EU only. I don't need to prove myself or others that I have balls by taking on too much risk with pairs I'm not familiar with.
If you don't risk, you don't ever have to lose.
  • #183,555
  • Jan 21, 2010 1:04pm Jan 21, 2010 1:04pm
Friends longer seems.

euro/usd H1 chart.
Long signal
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  • #183,556
  • Jan 21, 2010 1:05pm Jan 21, 2010 1:05pm
The consolidation today is a little too much for me. This indecision isn't supporting my M5 trend following.

The committment of trader reports are still showing bullishness. The U.S. economy is slightly faltering, but I'm bullish for the long run.
  • #183,557
  • Jan 21, 2010 1:06pm Jan 21, 2010 1:06pm
How I see it as bullish signs.good night . see you all next morning.
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #183,558
  • Jan 21, 2010 1:13pm Jan 21, 2010 1:13pm
Quoting bug
Oh..yes..the almighty maturity argument. Go check the number of exclamation and question marks on your previous posts and then talk about maturity.
PS. I don't trade GY. EU only. I don't need to prove myself or others that I have balls by taking on too much risk with pairs I'm not familiar with.

So a trader that just lost 1000usd entering a stoopid trade who uses exclamation marks to share his disappointment is a sign of immaturity??

WOW, where are u from? btw nobody is trying to prove anything. What u smoking dude?

run along and be 'fledgling' in life. Some of us can afford to take risks occasionally. u should try it sometime, its a real blast!

9pm where i am now. Cheers ppl. Be back on Monday!
  • #183,559
  • Jan 21, 2010 1:15pm Jan 21, 2010 1:15pm
Quoting 4exJunki
I hope you not calling me a bad trader...?? I am a full time day trader. Its my job and i trade on behalf of clients too.

I accept losses hence i saved enough in my account for tomorrow (trading maturity). I could afford a 200pip loss.
Just a last thing. You have nothing to prove to anyone. Here are many traders. All of them know that their target is making money. Nothing else. They did not come to the forum to prove something or to be judge by other traders, if they are good or bad traders. Sometimes, they joke, but they are working at the same time, by learning from each other, or checking if a detail was missed in their plan. If you catch good pips, they will congratulate you. If you loose, they will advice you or comfort you.
In trading, there is only one thing to take care: make higher your account and getting more money. Nothing else. Be confident on you self and don't seek what others think about you if you are good trader or bad, because this is a waste of time, and time is money here, by learning or trading. Prove to your self that you are a good trader.

Good trading.
No Signal, No Trade. No fundamenals, No headache.
  • #183,560
  • Jan 21, 2010 1:20pm Jan 21, 2010 1:20pm
Quoting No Stress
Just a last thing. You have nothing to prove to anyone. Here are many traders. All of them know that their target is making money. Nothing else. They did not come to the forum to prove something or to be judge by other traders, if they are good or bad traders. Sometimes, they joke, but they are working at the same time, by learning from each other, or checking if a detail was missed in their plan. If you catch good pips, they will congratulate you. If you loose, they will advice you or comfort you.
In trading, there is only one thing to take care:...
You sound much nicer than 'bug'. He bugs me!

Thanks for the advice. Sometimes one needs losses to ground you. It usually always makes u a better trader. Best way to learn is by doing.

Cheers again!

J
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