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  • #188,781
  • Feb 3, 2010 1:30am Feb 3, 2010 1:30am
Damn, I'm still making the same mistake over and over again.

Whenever we come close to a support/resistance, I close my trades, because I fear it will be rejected too hard. Then I'm struggling to find a sweet entry-spot...
  • #188,782
  • Feb 3, 2010 1:30am Feb 3, 2010 1:30am
OK going to sleep,Wish i am not gonna wake up -40 pip)But as my friend said Shit happens)Shorted btw
  • #188,783
  • Feb 3, 2010 1:32am Feb 3, 2010 1:32am
Quoting realjumper
Yeah I know what you're saying, and you're not wrong. For me though, I like to take 100 pips +. Not saying that I won't take 20 if that's all that's on offer!! In the current situation, I see this downtrend rsuming at some stage, and I still am pretty sure that my target of 3740 is on the cards. I would rather wait out the 'noise' rather than whipsawed all over the place, and wait for the PA to come to me. If it doesn't, it doesn't! Nothing lost. If it comes while I'm asleep, and then goes back and hit's my stop loss at -40, well, shit happens!...
I was just using that as an example. However, my take profit can be 10 pips or 150 pips or whatever. I set my take profit according to the probability of what the market presents. Same goes for my stop loss.
  • #188,784
  • Feb 3, 2010 1:35am Feb 3, 2010 1:35am
Quoting wood
yes this is why i said you have to be very very well capitalized
Yeah look At E/J i had 3 longs on him you saw ? it dropped 10 ~ pips about 1 min ago i add 1 one more positions now im with 3 with them in profit and 1position 8 pips loss -
  • #188,785
  • Feb 3, 2010 1:36am Feb 3, 2010 1:36am
Quoting SashaP
OK going to sleep,Wish i am not gonna wake up -40 pip)But as my friend said Shit happens)Shorted btw
Good night , i want to ask do your bilionaire friend trade only forex ? or stock too ?
  • #188,786
  • Feb 3, 2010 1:36am Feb 3, 2010 1:36am
Quoting uraceulose
This is exactly how I try and trade.

Donnie
You mean to say you guys set your tp at 100 pips everytime? That's crazy! What if you had to go through 5 strong resistances to get there? Wouldn't it be better to open and close the trades between each s/r? That's a rhetorical question btw.
  • #188,787
  • Feb 3, 2010 1:36am Feb 3, 2010 1:36am
Quoting 2+2=4ex
I was just using that as an example. However, my take profit can be 10 pips or 150 pips or whatever. I set my take profit according to the probability of what the market presents. Same goes for my stop loss.
Yup! Didn't mean to pidgeon hole you......sorry
Doing what you like is Freedom. Liking what you do is Happiness.
  • #188,788
  • Feb 3, 2010 1:38am Feb 3, 2010 1:38am
Quoting Mr Hatch
Damn, I'm still making the same mistake over and over again.

Whenever we come close to a support/resistance, I close my trades, because I fear it will be rejected too hard. Then I'm struggling to find a sweet entry-spot...

For how long you trading now ? How much did you sat on demo ?
  • #188,789
  • Feb 3, 2010 1:38am Feb 3, 2010 1:38am
Quoting kilalik
HI all! got a lot of sleep today... how's everyone doing?

So the bulls are still at large, and why are they still here no idea.

Does anyone have any ideas?

Maybe buy EUR/USD when she's cheap and SELL high later?
  • #188,790
  • Feb 3, 2010 1:39am Feb 3, 2010 1:39am
Quoting realjumper
Yup! Didn't mean to pidgeon hole you......sorry
No problem, I get what you're saying and neither one of us is wrong. Just different styles I suppose. That's the great thing about trading, everyone has their own ways and you can always learn from them.
  • #188,791
  • Feb 3, 2010 1:40am Feb 3, 2010 1:40am
Quoting dil
For how long you trading now ? How much did you sat on demo ?
January, 12th.
  • #188,792
  • Feb 3, 2010 1:43am Feb 3, 2010 1:43am
Quoting 2+2=4ex
You mean to say you guys set your tp at 100 pips everytime? That's crazy! What if you had to go through 5 strong resistances to get there? Wouldn't it be better to open and close the trades between each s/r? That's a rhetorical question btw.
I think it's okay for a long term trade. I did long @.3940 tp @1.4100 (1 of my open position)
  • #188,793
  • Edited 1:46am Feb 3, 2010 1:45am | Edited 1:46am
Quoting Mr Hatch
Damn, I'm still making the same mistake over and over again.

Whenever we come close to a support/resistance, I close my trades, because I fear it will be rejected too hard. Then I'm struggling to find a sweet entry-spot...
If you're making money, quit complaining. Taking profit on good trades over and over again and freeing your capital for the next good entry is how it's done.

Wash, rinse, repeat, retire. Walk don't run.
  • #188,794
  • Feb 3, 2010 1:45am Feb 3, 2010 1:45am
Price keeps climbing up and its good, looking to short soon. Now i would like to short if it hits 1.401, might be before that, still checking screen
  • #188,795
  • Feb 3, 2010 1:47am Feb 3, 2010 1:47am
Quoting SerpentDove
If you're making money, quit complaining. Taking profit on good trades over and over again and freeing your capital for the next good entry is how it's done.

Wash, rinse, repeat, retire. Walk don't run.
  • #188,796
  • Feb 3, 2010 1:51am Feb 3, 2010 1:51am
Quoting dil
Yeah look At E/J i had 3 longs on him you saw ? it dropped 10 ~ pips about 1 min ago i add 1 one more positions now im with 3 with them in profit and 1position 8 pips loss -
Since you are so generously sharing your stuff, what time frame do you trade?
I appreciate the help, thanks,
If only I knew then what I know now...
  • #188,797
  • Feb 3, 2010 1:53am Feb 3, 2010 1:53am
Quoting Clairvoyant
Price keeps climbing up and its good, looking to short soon. Now i would like to short if it hits 1.401, might be before that, still checking screen
I'm still seeing a pretty good divergence (rsi) on the H2 and H4....this thing might climb a bit more yet.....athough, 1.4000 might be a hurdle.....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #188,798
  • Edited 2:08am Feb 3, 2010 2:02am | Edited 2:08am
I think 1.3982 is the spot here....excuse me if i dont know how to put it correct in eng...but its 38,2 fibo level measured on the last big wave down (on H4)

2 earlier retraces hit the same level - measured for their waves down - and formed a flag formation

I am still a noob so please verify if my thinking is correct :-)
  • #188,799
  • Feb 3, 2010 2:06am Feb 3, 2010 2:06am
i think it start to go down now?
Be a sniper not a jumper
  • #188,800
  • Feb 3, 2010 2:12am Feb 3, 2010 2:12am
my bet is on long, but like realjumper said, some divergences favours shorts
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