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  • #192,101
  • Feb 8, 2010 5:47pm Feb 8, 2010 5:47pm
Quoting smokemachine
I think best for me is to get out when it`s 0$ loss...!
We are in a down trend but it does kinda look bully to me right now,,, I am waiting for a higher price to jump in,,, just on a good old bearish candle hopefully on a fibo level....
  • #192,102
  • Feb 8, 2010 5:48pm Feb 8, 2010 5:48pm
Quoting Mr Hatch
What size is your account, smoke?
started with 5k now I`m down to 3,3k...!
  • #192,103
  • Feb 8, 2010 5:48pm Feb 8, 2010 5:48pm
Quoting 2+2=4ex
like they always say:

the trend is your buddy
Yea, go tell that to people who bought the NASDAQ in early March 2000.
Number #1 in PnL and Pips on Dukascopy Trader Contest since 2011
  • #192,104
  • Edited 6:18pm Feb 8, 2010 5:48pm | Edited 6:18pm
Possible USDX retrace forming, bounced off 618 fib from a recent high to low. Could impact E/U in form of a retrace going into asia.
Attached Image (click to enlarge)
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This is what awesome feels like
  • #192,105
  • Feb 8, 2010 5:49pm Feb 8, 2010 5:49pm
Quoting Clouds
instant no. 1.60 is top, and .80 will be reached by 2017.
man...another 7 yrs to go... ok after 2017 there's no more euro
Be a sniper not a jumper
  • #192,106
  • Feb 8, 2010 5:50pm Feb 8, 2010 5:50pm
Quoting smokemachine
I think best for me is to get out when it`s 0$ loss...!
are you over leveraging smoke? i used to do that.. blew up 3 accounts - alot of money i don't even wanna talk about.. now when i follow the 2% Risk management... I don't get stressed up even a bit... sure i don't make much money wil small lots but better to be stress free so i can go about my life... - try it.. its a breeze i tell ya

some pro i read about mentioned that the professional in FX place a trade working out how much they are prepared to loose instead of the profit... its a good angle to think from
  • #192,107
  • Feb 8, 2010 5:53pm Feb 8, 2010 5:53pm
Quoting smokemachine
I thought the broken triangle and ichimoku are good enaugh for it to fall down...!!! i am -20$ now, I am really worried that it will go up and then I will be -150$..!
Just curious, how many lots are you trading? One standard lot? You ever give any thought to lowering your position sizes? It'll give your trades more room to breathe and any losses you incur won't cause you to go into cardiac arrest. The reward won't be as musch either...but you'll last longer and learn more!
  • #192,108
  • Feb 8, 2010 5:53pm Feb 8, 2010 5:53pm
Quoting smokemachine
started with 5k now I`m down to 3,3k...!
Ouch, that hurts.

There is a guy in this thread who said that January to March are possibly the easiest months to make money, so I am lucky to having started trading in the right time. And I have to admit that trading with the trend is a) easier and b) not that stressful on your mind.

How long do you trade by the way?
  • #192,109
  • Feb 8, 2010 5:54pm Feb 8, 2010 5:54pm
Quoting jaylovin
are you over leveraging smoke? i used to do that.. blew up 3 accounts - alot of money i don't even wanna talk about.. now when i follow the 2% Risk management... I don't get stressed up even a bit... sure i don't make much money wil small lots but better to be stress free so i can go about my life... - try it.. its a breeze i tell ya

some pro i read about mentioned that the professional in FX place a trade working out how much they are prepared to loose instead of the profit... its a good angle to think from
I believe that is the problem...!!! I also have pretty big spred 5pips...! I will wait till its 0$ loss and then turn it in for today...!!! I`m gona go smoke myself to death once more...!!!
  • #192,110
  • Feb 8, 2010 5:54pm Feb 8, 2010 5:54pm
Quoting Mr Hatch
Ouch, that hurts.

There is a guy in this thread who said that January to March are possibly the easiest months to make money, so I am lucky to having started trading in the right time. And I have to admit that trading with the trend is a) easier and b) not that stressful on your mind.

How long do you trade by the way?
almost 2 weeks...!
  • #192,111
  • Feb 8, 2010 5:55pm Feb 8, 2010 5:55pm
Quoting sierra
man...another 7 yrs to go... ok after 2017 there's no more euro
before joining the FX world... many people including myself (i'm from uk) looked upon the euro has efficient for import, export... going on holidays... and prices for the consumer on food, electronics etc etc... A friend of mine said we should join the euro - it would stop the uk from ripping us off all the time... I wasn't so sure about that but coming this far down the line - other countries bring down the currency you are using yourself... interesting subject here. Glad uk isn't part of the euro after all..
  • #192,112
  • Edited 8:12pm Feb 8, 2010 5:55pm | Edited 8:12pm
Quoting enterfx
and triangle now coming to an end... with stocks sharply down, scenario looks bearish to me.
yes, the bearish triangle is ended... at least from my view..and we're heading lower.. seems like the 3711 creates double top and push the price down 3660s area...based from 30mins chart, the decline from 3711 is in 5 subwaves, most probably the wave iii/iii is already started.. good luck sir!
Be a sniper not a jumper
  • #192,113
  • Feb 8, 2010 5:58pm Feb 8, 2010 5:58pm
Quoting smokemachine
I believe that is the problem...!!! I also have pretty big spred 5pips...! I will wait till its 0$ loss and then turn it in for today...!!! I`m gona go smoke myself to death once more...!!!
5 pip spread??? who is your broker? Maybe try small... I am in the process of opening the micro account with FXCM... their spreads are like 1.2pips

well worth it and less risk...
  • #192,114
  • Feb 8, 2010 6:01pm Feb 8, 2010 6:01pm
Do not look at the dollars. If you are in this for a buck a pip, you have adequate capital to make the right choice. If your playing it for 10, your over leveraged to start with.

Look at your setup. The reason why you took the trade. Look for real technical signs to support dumping it or holding it.

One short evaluation is... would you want to swap your position with a long trade?

Do not watch each tick for a sign to save you.

Good Luck,
BR

Quoting smokemachine
I think best for me is to get out when it`s 0$ loss...!
  • #192,115
  • Feb 8, 2010 6:01pm Feb 8, 2010 6:01pm
Quoting jaylovin
5 pip spread??? who is your broker? Maybe try small... I am in the process of opening the micro account with FXCM... their spreads are like 1.2pips

well worth it and less risk...
TELETRADE...! well I have had some problems with them, as soon as I will get refund for they`r systems failure I`m out...!
  • #192,116
  • Feb 8, 2010 6:04pm Feb 8, 2010 6:04pm
Quoting smokemachine
TELETRADE...! well I have had some problems with them, as soon as I will get refund for they`r systems failure I`m out...!
Probably consider Oanda?
  • #192,117
  • Feb 8, 2010 6:05pm Feb 8, 2010 6:05pm
Quoting Mr Hatch
Probably consider Oanda?
Well I was checking out FXCM but I am not sure yet...!!!
  • #192,118
  • Feb 8, 2010 6:08pm Feb 8, 2010 6:08pm
looking to enter short at 1.3660

holding off a bit

done
randy


Quoting Mr Hatch
Probably consider Oanda?
One good turn gets most of the blankets.
  • #192,119
  • Feb 8, 2010 6:09pm Feb 8, 2010 6:09pm
Quoting randy1953
looking to enter short at 1.3660
randy
Why?
Doing what you like is Freedom. Liking what you do is Happiness.
  • #192,120
  • Feb 8, 2010 6:10pm Feb 8, 2010 6:10pm
Ok I am out, see you at London opening...!!!

good luck to everyone...!
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