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  • #183,561
  • Jan 21, 2010 1:24pm Jan 21, 2010 1:24pm
Quoting 4exJunki
Some of us can afford to take risks. u should try it sometime, its a real blast!
Yet others limit their exposure to risk as little as possible and gain as much as possible. I did try risking too much in the beginning. And I lost pips. Now I'm using money management tips from Diallist. Helped me a lot.

Anyway, we're gonna be arguing here for a loong time I guess. None of us is willing to budge. In the name of other traders who don't like to read our ranting and would like to keep the discussion to EURUSD, I say lets call and end to this. Let's show some maturity.
If you don't risk, you don't ever have to lose.
  • #183,562
  • Jan 21, 2010 1:25pm Jan 21, 2010 1:25pm
Quoting 4exJunki
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
The Dalai Lama has said, "If you want others to be happy, practice compassion. If you want to be happy, practice compassion."
  • #183,563
  • Jan 21, 2010 1:30pm Jan 21, 2010 1:30pm
3 o'clock fade anyone?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #183,564
  • Jan 21, 2010 1:33pm Jan 21, 2010 1:33pm
I wish i could post the charts here for my explanation concerning both the usd index and the eur/usd pair. But if u draw fibonnacci retracements level from the low of 1.2886 (wave 2) on Daily chart to the high of 1.5144 (wave 3) u would discover that we are in a correction of a wave 4 which is in progress and should end by tomorrow with the 50% retracement value placed at 1.4017 this pair could be still headed over there. For the long term traders just like me it represents a time to buy the euro for the move for 1.56 (wave 5) a cool 1580 pips as compared to the stops which should be 300 pips. Strategy buy limit Eur/Usd Price: 1.4018 stop loss: 1.3711 Target:1.516 How do u guys see this?
  • #183,565
  • Jan 21, 2010 1:37pm Jan 21, 2010 1:37pm
Quoting 4exJunki
After a few days demoing i decided to go trade the pound yen!! Made a few successful trades and got the self confidence up!!

FFFFK!K!K!K!!K!K it then decided to drop 300PIPS! in an hour!! I lost 200hundred pips in that trade!!!!!!!!

I am sticking to the EURODOLLAR! I could have made that amount with this news spike instead of losing it with the GBPJPY!!

SHABBLES!

GBPJPY is bad bad bad! Anyone see that!>
Try being long GBPJPY in summer of 2007 from 250, when it was dropping like a rock... The ego would not let go at that time and that was a lession in risk management that I will never forget. And I mean never, because it was very expensive...

BTW: I'm still long EURUSD
Greed and impatience are our greatest enemies.
  • #183,566
  • Jan 21, 2010 1:40pm Jan 21, 2010 1:40pm
So are we gonna see a hammer on the daily chart eluding to a possible approach of 1.4250 as drop their dollar assets at limited banks and convert to gold and currencies that are not limited in making capital like our limited U.S. banks. Or will see a doji of indecision as markets thing that the republicans may not let his crazy regulations pass. Or will the trend continue as european worries outweigh obamas words. stay tuned forexers lol...
  • #183,567
  • Jan 21, 2010 1:44pm Jan 21, 2010 1:44pm
Quoting chimex
I wish i could post the charts here for my explanation concerning both the usd index and the eur/usd pair. But if u draw fibonnacci retracements level from the low of 1.2886 (wave 2) on Daily chart to the high of 1.5144 (wave 3) u would discover that we are in a correction of a wave 4 which is in progress and should end by tomorrow with the 50% retracement value placed at 1.4017 this pair could be still headed over there. For the long term traders just like me it represents a time to buy the euro for the move for 1.56 (wave 5) a cool 1580 pips as...
I'm waiting EU to come back at this level to go long but with only a 60 pips SL, not 300 pips. First TP is for 200 pips, following retrace and see the pair how strong or weak is it, and then come the next step which is a new plan. I'm not a hedge fund to have 300 pips SL and 1100 pips TP lol.
No Signal, No Trade. No fundamenals, No headache.
  • #183,568
  • Jan 21, 2010 1:46pm Jan 21, 2010 1:46pm
Quoting Maxsmart
So are we gonna see a hammer on the daily chart eluding to a possible approach of 1.4250 as drop their dollar assets at limited banks and convert to gold and currencies that are not limited in making capital like our limited U.S. banks. Or will see a doji of indecision as markets thing that the republicans may not let his crazy regulations pass. Or will the trend continue as european worries outweigh obamas words. stay tuned forexers lol...
Personally I see the trend continuing, but perhaps not until next week. Talk is just talk......the state of the European economy can't be ignored just because Obama has been flappin' his gums!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #183,569
  • Jan 21, 2010 1:50pm Jan 21, 2010 1:50pm
Quoting realjumper
Personally I see the trend continuing, but perhaps not until next week. Talk is just talk......the state of the European economy can't be ignored just because Obama has been flappin' his gums!!
eurchf confirms what you're saying.


stalled below 1.4700...

I feel so sorry for all those poeple that have their mortgage in chf in the central european countries.
  • #183,570
  • Jan 21, 2010 2:12pm Jan 21, 2010 2:12pm
Quoting The Fool
3 o'clock fade anyone?
I don't mind if I do.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #183,571
  • Jan 21, 2010 2:30pm Jan 21, 2010 2:30pm
Don't think we're going anywhere for the next 4 hours or so.
  • #183,572
  • Jan 21, 2010 2:35pm Jan 21, 2010 2:35pm
Perfect BUOB on last bar (TF 4H), direction is up for EU.
On daily timeframe we should end up with a pinbar.
Get your longs ready, we're not ready to see 1.3980 yet.
  • #183,573
  • Jan 21, 2010 2:37pm Jan 21, 2010 2:37pm
Quoting Moody
Don't think we're going anywhere for the next 4 hours or so.
Yeah, it's tempting to add another short here, but as you say, nothing much is likely to happen until Asia comes online....and maybe nothing then either! Might be time to go cook a huge breakfast!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #183,574
  • Jan 21, 2010 2:46pm Jan 21, 2010 2:46pm
Hmmmm....
Attached Image (click to enlarge)
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  • #183,575
  • Jan 21, 2010 2:55pm Jan 21, 2010 2:55pm
Quoting TrooperCoope
Hmmmm....
Breakout expection ? Up or down ?
  • #183,576
  • Jan 21, 2010 2:58pm Jan 21, 2010 2:58pm
Quoting Doc'
Breakout expection ? Up or down ?
No idea... I am still short,... but I am trailing it now by the triangle upper line...
  • #183,577
  • Jan 21, 2010 3:08pm Jan 21, 2010 3:08pm
Tomorrow Friday.. Man, I think DOW is getting ready to

purge another 300-500 points.. Doesn't look good..
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #183,578
  • Jan 21, 2010 3:28pm Jan 21, 2010 3:28pm
Short for the fifth time @ 1.4125. Placed a stop to break even and tp @ 1.4040. Some signals suggest to sell @ 1.4150 and tp at 1.4020. Usually they get the
E / U right.

Off 2 bed now. 2morrow I shall see the results..........
  • #183,579
  • Jan 21, 2010 3:32pm Jan 21, 2010 3:32pm
M30 closed at the bottom... gaining confidence for my short. Question is, wether or not the market is sleeping allready, waiting for Tokyo...
  • #183,580
  • Jan 21, 2010 3:35pm Jan 21, 2010 3:35pm
Quoting SkyzerFX
Tomorrow Friday.. Man, I think DOW is getting ready to

purge another 300-500 points.. Doesn't look good..
yep u.s. tighten money like china. guess where commodities go then?
those who can, do. those who cant, talk about those who can
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