DislikedI`m building longs on EUR and AUD.... first @ 4050, next @ 3990 third @ 3935... my plan is it will either turn now or it won`t go lower than 3700.... if it does i`m risking more than i`d like and if it goes under 3100ish ( and i keep adding longs all the way) i`m hitting margin call.
What i`m hoping/expecting is for it to stop dropping arround this price(give or take 30 pips) and head back up or stay in range untill next week when it goes back up...
What do you guys think?
EDIT: Hehe only the new members expect and say it will surely bounce...Ignored
- #186,544
- Jan 28, 2010 7:23pm Jan 28, 2010 7:23pm
- Joined Oct 2008 | Status: sideline is a position | 105,127 Posts
those who can, do. those who cant, talk about those who can
- #186,546
- Jan 28, 2010 7:25pm Jan 28, 2010 7:25pm
- Joined Jan 2010 | Status: Trader | 11,001 Posts
well im older now.. this bitch is going down like a school girl on prom night. im just catching a little hawaii money..
- #186,548
- Jan 28, 2010 7:28pm Jan 28, 2010 7:28pm
- Joined Oct 2008 | Status: sideline is a position | 105,127 Posts
those who can, do. those who cant, talk about those who can
- #186,549
- Jan 28, 2010 7:31pm Jan 28, 2010 7:31pm
- Joined Aug 2008 | Status: Fear makes us see who we really are | 4,822 Posts
They think they are smarter than I am.
- #186,551
- Jan 28, 2010 7:32pm Jan 28, 2010 7:32pm
- Joined Oct 2008 | Status: sideline is a position | 105,127 Posts
those who can, do. those who cant, talk about those who can
- #186,552
- Jan 28, 2010 7:33pm Jan 28, 2010 7:33pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.
- #186,555
- Jan 28, 2010 7:37pm Jan 28, 2010 7:37pm
- Joined Apr 2009 | Status: Live and learn. | 25,165 Posts
I`m still learning longer timeframes i had succes with the 1/5m but sometimes after i trade for a few hours i feel the stress building up due to the many trades i must take. So i`m trying other timeframes so i can trade less.... keeping my health hopefully.
And i picked to build up now becouse i felt more bullish on EU than bearish... not that sure anymore but asia usually goes lower anyway. We`ll see if we make a clear break past S1 or not.
But I have never been able to comprehend why this approach is less "stressful" than trading on the short tf. And, also, I personally have lost a shitload trying to trade that way. The adage "Losers Average Losers" is one I live by now.
So, now - I scalp. My trades are over in minutes. I enter on momentum with tiny sl's that (potentially) translate to ridiculously low risk:reward. And I risk uniformly 0.2% of my account per pip on every scalp trade. So 20 pips in a day and I'm done - and I can get that done with a couple hours of screen time a day at most. I go to sleep with no trades running and I don't dream of waking up to a margin call.
But, to each his own & bonne chance.
"If The Fool persists in his Folly he will become wise." - William Blake
- #186,557
- Jan 28, 2010 7:45pm Jan 28, 2010 7:45pm
- Joined Oct 2008 | Status: sideline is a position | 105,127 Posts
those who can, do. those who cant, talk about those who can
- #186,558
- Jan 28, 2010 7:49pm Jan 28, 2010 7:49pm
- | Commercial User | Joined Feb 2009 | 5,030 Posts
It is just me.
- #186,559
- Jan 28, 2010 7:49pm Jan 28, 2010 7:49pm
best i can figure atm if we retrace now with 3918 as the low. we get to 3969 plus slippage.. if 3943.5 is respected it may happen... watch this level.. the more level respected the better the odds.. 43.5 first target.. for baby bull.. if respected on smaller levels
