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EURUSD

  • #185,041
  • Jan 26, 2010 11:49am Jan 26, 2010 11:49am
What's up with this upmove... so fake in my guess...decreasing vol on the way up
Short from 1.4100 previous resistance all the way down to 1.4050 then 1.4000
COT: The precious data ignored
  • #185,042
  • Jan 26, 2010 11:50am Jan 26, 2010 11:50am
Quoting wannaberich
Hi guys,

would really appreciate your feedback on this:

many times i have some 40 or 50 pips profit to take, blink my eyes and it goes to SL. eventually i am at breakeven at that point but still feels like i am throwing money out the window. so you say: set TP to 40 pips, dumbass! but in that case i miss out some very interesting moves when the move goes past those 40 or 50. should i stick to this approach (let profits roll) i should use a smaller TP?

thanks for your input.

hapipipin to u all

thinking of loading a short right now.

Nothing wrong with picking up 40 pips in a move that might or might not have given +100.

You could try dividing your exit into 2 or 3 parts

Say you enter short on eu with a position that's 3:1 of your account
You could collect those 40-50 pips on 2/3 of your position and move SL to BE or BE+10 on the final lot then wait and see what happens.

The market will always provide interesting moves, so don't try catching every pip out there. Accounts are built by having consistently free trades(ie trades that are at BE or with green pips locked in.

Jury is still out on the best TF but I find the higher ones better with right mm...
Some drink at the fountain of knowledge. Others just gargle !
  • #185,043
  • Jan 26, 2010 11:51am Jan 26, 2010 11:51am
Quoting wannaberich
Hi guys,

would really appreciate your feedback on this:

many times i have some 40 or 50 pips profit to take, blink my eyes and it goes to SL. eventually i am at breakeven at that point but still feels like i am throwing money out the window. so you say: set TP to 40 pips, dumbass! but in that case i miss out some very interesting moves when the move goes past those 40 or 50. should i stick to this approach (let profits roll) i should use a smaller TP?

thanks for your input.

hapipipin to u all

thinking of loading a short right now.
IMHO. Putting a TP base on the amount of pips is a mistake. I always look for PP, SR, TL or FIBOS in some cases MA’s. Take your profit there and reevaluate your position, then you may want to trade on the opposite direction after the analysis.
My .2 cents
  • #185,044
  • Jan 26, 2010 11:52am Jan 26, 2010 11:52am
Quoting wannaberich
Hi guys,

would really appreciate your feedback on this:

many times i have some 40 or 50 pips profit to take, blink my eyes and it goes to SL. eventually i am at breakeven at that point but still feels like i am throwing money out the window. so you say: set TP to 40 pips, dumbass! but in that case i miss out some very interesting moves when the move goes past those 40 or 50. should i stick to this approach (let profits roll) i should use a smaller TP?

thanks for your input.

hapipipin to u all

thinking of loading a short right now.
I never move my SL to breakeven before I have atleast 80-100 pips in profit..
  • #185,045
  • Jan 26, 2010 11:53am Jan 26, 2010 11:53am
Quoting Shad
What Is Your Idea About 1.4565 !?


From H4 candle as hammar up & from wicks it seems next candle will be up also in less than 10 mins & any level can reach ultimately but not think that much you mentioned . to me 1.4350-87 up can be end to resume great bear again.
Thanks ,
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #185,046
  • Jan 26, 2010 11:53am Jan 26, 2010 11:53am
Quoting wannaberich
Hi guys,

would really appreciate your feedback on this:

many times i have some 40 or 50 pips profit to take, blink my eyes and it goes to SL. eventually i am at breakeven at that point but still feels like i am throwing money out the window. so you say: set TP to 40 pips, dumbass! but in that case i miss out some very interesting moves when the move goes past those 40 or 50. should i stick to this approach (let profits roll) i should use a smaller TP?

thanks for your input.

hapipipin to u all

thinking of loading a short right now.
You could try a 'trailing stoploss' set it at 25 or 30 pips and let the market take you out when it re-traces.

or, what i tend to do, is move my SL to BE +2 when 25 pips in profit, then move the stoploss at 10 pip increments as the profit increases by 10 pips, when momentum starts to slow down i narrow the 25 pip gap right down, usually to about 10-12 pips.

good luck with your trades
  • #185,047
  • Jan 26, 2010 11:58am Jan 26, 2010 11:58am
Quoting TheLastCoke
IMHO. Putting a TP base on the amount of pips is a mistake. I always look for PP, SR, TL or FIBOS in some cases MA’s. Take your profit there and reevaluate your position, then you may want to trade on the opposite direction after the analysis.
My .2 cents
Wise words.

Every trade needs to be based on its merits. It depends on the trend, S&R,momentum of the market news that have come out or news that will come out.

Its not a good idea to want 100pips off every trade. You could rather trade 5 trades with a TP of 20pips with less risk and bigger rate of success.
  • #185,048
  • Jan 26, 2010 12:02pm Jan 26, 2010 12:02pm
Quoting fontu
From H4 candle as hammar up & from wicks it seems next candle will be up also in less than 10 mins & any level can reach ultimately but not think that much you mentioned . to me 1.4350-87 up can be end to resume great bear again.
Thanks ,
fontu
hmmm.. interesting to see EU on 1.42 level. but what do you think of 1.41xx level. will it hold . i can see a strong Support and now basicly it's the Resistant.

and matter of fact THE big dogs are looking for 1.39xx/40
Fools Rushing
  • #185,049
  • Jan 26, 2010 12:09pm Jan 26, 2010 12:09pm
i see that a lot of you use the partial aproach (closing part of a trade while it goes up or down). never done that. will do that and trail the SL too.

thanks for the input.

hapipipin

p.s. can you ear the bears paws on the ground?
dreams do come true.
  • #185,050
  • Jan 26, 2010 12:12pm Jan 26, 2010 12:12pm
Quoting Beeps
You could try a 'trailing stoploss' set it at 25 or 30 pips and let the market take you out when it re-traces.

or, what i tend to do, is move my SL to BE +2 when 25 pips in profit, then move the stoploss at 10 pip increments as the profit increases by 10 pips, when momentum starts to slow down i narrow the 25 pip gap right down, usually to about 10-12 pips.
Note this is just a difference of opinion and why..not criticism. If it works for you..great...keep doing it.

What you tend to do is sort of a manual trailing stop one could say. In essence you try to maximize profits and minimize risk. I find it very hard to use trailing stops as the pairs move in waves (volatility depends on pair).

Lets say you sell at the high of a range and are looking to possibly reach the low of the range. That range is 50-60pips. With a hard TP that's 50pips profit if reached. With a trailing stop...pa may have gone down 30pips..retrace 20..go down another 20 (total 40)..retrace 30..and so on before reaching +5 and you would be stopped out on any one of those occasions. This applies to a trending market as well, its actually worse.

Lets say you sell at the perfect high. But up until that point pa was consolidating higher. While the charts may point out a big bear is coming...the move initially is volatile with waves up and down. So while the move to follow may be 100pips +....if you had a trailing stop you would probably get stopped out at entry or so just because the start of the move was so volatile.

I personally am a fan of what was already mentioned. If you think the market has potential for 100pips in your favor...take profit for half the position or 1/3rd (depending on your style) at lets say 40pips and let the rest run with stop loss at entry point. You can even keep the original stop loss for the second half of the position and add another half if original entry point is reached again and you still favor that direction you invested in. In the end we have the luxury to close the entire trade if doubt starts to enter the mind.

Again no offense when I say this but its very important to me as I see my dad do this all the time in his trading and it frustrates me greatly. Maximing profits and minimizing risk is just another way of saying, fear of losing what little profit is made or go back into negative territory and trying to maximize gains aka you never want to close the position as long as its + pips..aka greed.
Different opinions highly valued, ignorant to slander.
  • #185,051
  • Jan 26, 2010 12:15pm Jan 26, 2010 12:15pm
Quoting Shad
What Is Your Idea About 1.4565 !?


what do you mean sorry i dont follow what you r after
  • #185,052
  • Jan 26, 2010 12:20pm Jan 26, 2010 12:20pm
its going down to test around 4000
StopLoss is for none belivers... Trust the Gurus..
  • #185,053
  • Jan 26, 2010 12:20pm Jan 26, 2010 12:20pm
wave counts suggests that the recent move on this pair towards 1.41 is wave 4 of the final 5 wave rally and downside movement is expected to still take this pair towards 1.4018 region were a bullish seen should occur...
  • #185,054
  • Jan 26, 2010 12:23pm Jan 26, 2010 12:23pm
speaking of greed here is another thought:

if i am short, pa goes 20 pips down, i set my sl to be. this means i have no risk! so i can re-enter down at the next retrace without breaking my 3% max. risk.

i did this just on the last eu downer. if i had closed at 1.4050 it would be +60 pips. had to go to a meeting and when i came back it went to sl (at be of both trades, give or take a pip).

stupid strategy?

hapipipin

Quoting psiholog

Again no offense when I say this but its very important to me as I see my dad do this all the time in his trading and it frustrates me greatly. Maximing profits and minimizing risk is just another way of saying, fear of losing what little profit is made or go back into negative territory and trying to maximize gains aka you never want to close the position as long as its + pips..aka greed.
dreams do come true.
  • #185,055
  • Jan 26, 2010 12:27pm Jan 26, 2010 12:27pm
Quoting MTF Test
hmmm.. interesting to see EU on 1.42 level. but what do you think of 1.41xx level. will it hold . i can see a strong Support and now basicly it's the Resistant.

and matter of fact THE big dogs are looking for 1.39xx/40
May be anything can happen & just looking the chart & I think it is quite possible even eu in strong down trend now.
fontu
Attached Image
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #185,056
  • Jan 26, 2010 12:27pm Jan 26, 2010 12:27pm
Quoting PriceVolume
Not so sure about that. A shakeout is expected and is actually overdue....
Shakeout may be complete. Need to see close below 4079 to verify, though.....
  • #185,057
  • Jan 26, 2010 12:29pm Jan 26, 2010 12:29pm
Bears are predominant. But not enough!. Bulls can surprise.
  • #185,058
  • Jan 26, 2010 12:29pm Jan 26, 2010 12:29pm
Quoting PriceVolume
Shakeout may be complete. Need to see close below 4079 to verify, though.....
Hello price volume, may I ask what a shake out is.Thank you for your time.
  • #185,059
  • Jan 26, 2010 12:31pm Jan 26, 2010 12:31pm
Quoting Optimum
Bears are predominant. But not enough!. Bulls can surprise.

LOL i get surprises many times a day...trading.... some nice some bad
StopLoss is for none belivers... Trust the Gurus..
  • #185,060
  • Jan 26, 2010 12:34pm Jan 26, 2010 12:34pm
Quoting live4pips
Hello price volume, may I ask what a shake out is.Thank you for your time.
A shakeout is a movement that occurs counter to the primary trend, typically in a proportion to make the "uncertain" traders nervous (not to be confused with a regular pullback in price action). Those unsure will often close their trades, only to witness the trend resume shortly thereafter. But, when in doubt....it is best to close. Stop hunting is a frequent cause of this....also, brokers with news threads contibute to this by articles suddenly being posted stating "our model says" this or that.....perfect example, prior to the peel upward, my broker released a post saying their models showed EURUSD as "overbaked".
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