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  • #184,941
  • Jan 26, 2010 7:07am Jan 26, 2010 7:07am
Quoting Optimum
boo! this week.


1.44 by this weekz?

OOoooo... this i have to see...
  • #184,942
  • Jan 26, 2010 7:14am Jan 26, 2010 7:14am
Quoting nawafasad1
wow man a profit of 8 pips go and wash cars you get more for your time
That would be a question of position size and risk control. If you were trading 10 standard lots (ave of about $800) you would more than likely do the same thing. 8 pips may seem insignificant to some because they are trading pennies but to others it may be a case of owning the car wash.

Razor
  • #184,943
  • Jan 26, 2010 7:14am Jan 26, 2010 7:14am
Quoting nawafasad1
wow man a profit of 8 pips go and wash cars you get more for your time

Umm learn to read? I said I have +8 pips of a free trade, no risk involved but profit can still be made (up to 50pips on this position). If you saw my win/loss ratio and gains in terms of pips for this month alone...you would think twice before insults. Anyways, I'm here to discuss my observations and see what others have to say as well, not exchange insults. Have fun doing that..by yourself.
Different opinions highly valued, ignorant to slander.
  • #184,944
  • Jan 26, 2010 7:14am Jan 26, 2010 7:14am
Quoting plan-b
I think 1.38 is only a matter of when not if.

Its kind of consolidating in the middle of nowhere, might unwind higher(maybe 1.43-1.4370) before that strong push down to 1.3750-1.3850 area

Aggressive bulls might feel that we may already have a low but i think its a bit premature


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why do you think it will go that far down .
  • #184,945
  • Jan 26, 2010 7:18am Jan 26, 2010 7:18am
Gold just took a big hit...
  • #184,946
  • Jan 26, 2010 7:22am Jan 26, 2010 7:22am
Quoting Razor_trader
That would be a question of position size and risk control. If you were trading 10 standard lots (ave of about $800) you would more than likely do the same thing. 8 pips may seem insignificant to some because they are trading pennies but to others it may be a case of owning the car wash.

Razor
I'm up 15 pips for the day, a 3% increase for the account, enough to buy groceries for 2 weeks - on 1.5 hrs scalping at the LO....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #184,947
  • Jan 26, 2010 7:23am Jan 26, 2010 7:23am
Quoting psiholog
Umm learn to read? I said I have +8 pips of a free trade, no risk involved but profit can still be made (up to 50pips on this position). If you saw my win/loss ratio and gains in terms of pips for this month alone...you would think twice before insults. Anyways, I'm here to discuss my observations and see what others have to say as well, not exchange insults. Have fun doing that..by yourself.
sir i dont know the way you trade but i will take a long position soon to show you who s got bold statements that short will be on short term to take wave 4 of 5 to the upside on a low risk high reward . and if you dont want to hear insults you should not insult others bold statements you said
  • #184,948
  • Jan 26, 2010 7:24am Jan 26, 2010 7:24am
Quoting nawafasad1
why do you think it will go that far down .

I guess its all about where your support line passes, I have drawn mine and it's in the 1.3750-1.3850 area.

50% of 1.25-1.51 also comes in at 1.38

61.8% of 1.29-1.51 is also around 1.38

Last years uptrend was very strong, the question is when does this stop being a retracement and becomes a reversal?
Some drink at the fountain of knowledge. Others just gargle !
  • #184,949
  • Jan 26, 2010 7:28am Jan 26, 2010 7:28am
Just back , my all shorts tp at 1.4078-74 area and only 2 pending buys triggered at 1.4069.Don't understand if price will stop bear continuation or not but grossly what it seems ,perhaps time to taking longs has come even if go further down to 1.4050 or less.Now I see price falling without d & not below previous low yet) in m1 chart that is bear shows its strength. but logic remains same.instead of h&S turned a double bottom so far .
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #184,950
  • Jan 26, 2010 7:31am Jan 26, 2010 7:31am
Would not say nowhere i have a .382 at 1.4071 based on dec 08 low and dec 09 high. Has hit the line a bunch and bounced. Next stop down 1.3740?
Having said that i am a little long right now, but wont see much bellow 4040!

Quoting plan-b
I think 1.38 is only a matter of when not if.

Its kind of consolidating in the middle of nowhere, might unwind higher(maybe 1.43-1.4370) before that strong push down to 1.3750-1.3850 area

Aggressive bulls might feel that we may already have a low but i think its a bit premature


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  • #184,951
  • Jan 26, 2010 7:32am Jan 26, 2010 7:32am
Quoting The Fool
I'm up 15 pips for the day, a 3% increase for the account, enough to buy groceries for 2 weeks - on 1.5 hrs scalping at the LO....
Precisely what I am getting at. We all start somewhere and to most they get hooked up a perception of pip value relative to them. As traders gain trust in what they do they may find themselves trading larger accounts and IMO it is there that they will discover what risk management is all about. Trading size is relative to risk per trade (in the value of a SL distance from entry) and the account size risk (a % that you are happy to place on the line). So in the event that you enter a trade on a small SL then naturally your position size will reflect that.

Unless you know someones account details and the risk involved from all angles then you cannot understand the notional value of a trade in terms of pip value. So 8 pips could be a couple of $$$$ or .$$

Glad to hear your up 3%. I am in short and currently up around 2% with SL at BE + some (cover spread costs and a little more) and half to come off before the 1.4000 pysch level.

Take care

Razor
  • #184,952
  • Jan 26, 2010 7:33am Jan 26, 2010 7:33am
Analise Sell
  • #184,953
  • Jan 26, 2010 7:34am Jan 26, 2010 7:34am
My last shorts 1.4147 and 1.4170.
Last advice short at 1.4090.

I know it is tempted to try longs around 1.4060 area, better wait to see 1.3970 to try some longs.
  • #184,954
  • Jan 26, 2010 7:36am Jan 26, 2010 7:36am
my long at 1.4052 sloss 20pips t1 1.4080 t2 1.4100 this is a counter trend trade
  • #184,955
  • Jan 26, 2010 7:43am Jan 26, 2010 7:43am
how does that sound to you?

hapipipin
dreams do come true.
  • #184,956
  • Jan 26, 2010 7:44am Jan 26, 2010 7:44am
Quoting BoredToLoose
My last shorts 1.4147 and 1.4170.
Last advice short at 1.4090.

I know it is tempted to try longs around 1.4060 area, better wait to see 1.3970 to try some longs.

Yeh agree....so tempting but so dangerous and anyway i don't see any reason to go long right now on such price action unless you want to scalp few pips...but don't expect 200 pips on a long right there
I'll wait 1.4000 and will see how prices react at this zone
COT: The precious data ignored
  • #184,957
  • Jan 26, 2010 7:47am Jan 26, 2010 7:47am
Quoting wannaberich
how does that sound to you?

hapipipin
That's what I'm fixing to do, trade right after the resistance is broken. it could become a scalp to 1.4040 or I could get lucky and run way lower.
  • #184,958
  • Edited 8:08am Jan 26, 2010 7:50am | Edited 8:08am
eu is under the lower value area of yesterday. Looks like it has been basing overnight in the 1.4075 zone BUT for me as long as price remains under the lower value area of yesterday it means that pros are willing to sell it at a lower price and remains bearish

Gold as posted yesterday I am still holding the sell off 1110 , was dicey there for a while but stop was not hit , we have a lovely double top on the 4 hr at 1114 with current down side target test of recent lows 1081. IF gold breaks this then down to 1050 is next move.

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Blogging daily now at www.volume.zone
  • #184,959
  • Jan 26, 2010 7:51am Jan 26, 2010 7:51am
Price if effectively ranged at the moment and the longer the range holds generally the more volitile the BO will be. To the downside though there is the big hurdle of the 1.4000 psych level and to the upside there is a ton of intraday hurdles where price had been ranging previous to the past drop.

Right now is not the time to be just taking stabs in the dark. For those who are looking to long your best chance would be looking for a confirmation of support from the 1.4000 area and looking for profit around the base of the range. Shorts, well I would be looking for a breakout and then pullback to the range with profit taking around that 1.4000.

To be just taking shots in the dark is just throwing your money at hope. Let price action and areas of opporunities (S/R) guide trades, it is so simple. Trade for reasons other that just wanting to trade.

Razor
  • #184,960
  • Jan 26, 2010 7:52am Jan 26, 2010 7:52am
was meant to include a chart in the last post
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