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  • #216,301
  • Mar 25, 2010 10:29am Mar 25, 2010 10:29am
anyway i will continue this "Scalping" (seems to be a bad word) for the next week. I will let you all know the outcome with stats and charts stuff

Its probably just a lucky day.

Ciao
  • #216,302
  • Mar 25, 2010 10:30am Mar 25, 2010 10:30am
I am long on euro any comments?
  • #216,303
  • Mar 25, 2010 10:31am Mar 25, 2010 10:31am
Quoting Clouds
shorting from here would be too slow going down.. we really do need 3440 i think
i know that eurusd doesn't always obey fib-levels as well as other pairs do, but i'd like to hear your opinion on 1.36189 (61,8% from 1.38176 to 1.34629). is this 61.8% if not respected a number to keep in mind for the future, even if we go down first? is it possibly too much emphasis i put on fibo?
  • #216,304
  • Mar 25, 2010 10:31am Mar 25, 2010 10:31am
Quoting Jake Snake
Not balls of steel, just the ability to switch off the computer and run a few marathons to forget.
And the worst thing about this is that its hard to sleep at night if you got a trade running (well thats me at just a 1 pound a pip) imagine if you have a large account with 10 pounds a pip. You will probably wake up one morning to see you are down 600 pounds
  • #216,305
  • Mar 25, 2010 10:32am Mar 25, 2010 10:32am
Quoting tritasoldi
triple top scalp sell 15 pips
nice one
  • #216,306
  • Mar 25, 2010 10:34am Mar 25, 2010 10:34am
if this could break through 1.3370 in few time I think it is better to focus for a while on long.
  • #216,307
  • Mar 25, 2010 10:35am Mar 25, 2010 10:35am
Well actually the news from Mr. Bernanke were fine and beatiful but as i can see the reaction is not as many people suppose . So i think we will go more down for today. :nerd: (maybe im wrong ) ...mmh
  • #216,308
  • Mar 25, 2010 10:36am Mar 25, 2010 10:36am
any thoughs on the eurgbp?i m stuck in a short, but pa not seem to obey my resistance
  • #216,309
  • Mar 25, 2010 10:37am Mar 25, 2010 10:37am
Quoting DrLobo
And the worst thing about this is that its hard to sleep at night if you got a trade running (well thats me at just a 1 pound a pip) imagine if you have a large account with 10 pounds a pip. You will probably wake up one morning to see you are down 600 pounds
and that is the worse part of forex...
  • #216,310
  • Mar 25, 2010 10:37am Mar 25, 2010 10:37am
Quoting Mr Hatch
i know that eurusd doesn't always obey fib-levels as well as other pairs do, but i'd like to hear your opinion on 1.36189 (61,8% from 1.38176 to 1.34629). is this 61.8% if not respected a number to keep in mind for the future, even if we go down first? is it possibly too much emphasis i put on fibo?
im wrong person to ask, i dont have much experience with fibs. i mainly just look at history of support/resistances. 3440 being the breakdown level
  • #216,311
  • Mar 25, 2010 10:40am Mar 25, 2010 10:40am
Quoting Clouds
i mainly just look at history of support/resistances. 3440 being the breakdown level
which is much more difficult as i first thought, esp. when it comes to weighing them somehow.
  • #216,312
  • Mar 25, 2010 10:41am Mar 25, 2010 10:41am
Quoting 9000rpm
to me, that sounds too risky. you're using big lots is because you're dealing with play money, which takes the emotion aspect out of trading. if you really want to learn and experience real trading, then go open a micro or mini account.
I agree
  • #216,313
  • Mar 25, 2010 10:44am Mar 25, 2010 10:44am
I agree too. I made a ton of simoleans on the demo accounts. The minute I went live I began losing. I'm over that now... he says touching a forest of wood.
I operate with clear definite rules, if I break them I lose BIG!
  • #216,314
  • Mar 25, 2010 10:45am Mar 25, 2010 10:45am
Quoting Kidlamond
I agree
Me too. there is a lot differences between a mini account and a 100000000 demo account balance when it comes to facing the real meaning of forex.
  • #216,315
  • Mar 25, 2010 10:46am Mar 25, 2010 10:46am
Quoting DrLobo
You are right I would not do that. But maybe this is different.

Maybe the difference is that there is something like 99% chance of hitting 2-4 pips in 1 minute not matter what direction trade is going in ? (the horse on the hand has alot less chance)

I had 3K in my demo account this morning, I started using this strategy and its upto to 8k.

Maybe its a lucky day ...
well, lucky day indeed,

but what will happen when you have 3 losers in a row? Yes, they will happen, even if your system has 90% hitrate....then what, you'll have to win 10~15 trades in a row just to get breakeven again...

add to that the psychological stress and you have the ingredients for revenge trading and blowing account in short time.
  • #216,316
  • Mar 25, 2010 10:50am Mar 25, 2010 10:50am
Quoting Tomex
Well actually the news from Mr. Bernanke were fine and beatiful but as i can see the reaction is not as many people suppose . So i think we will go more down for today. :nerd: (maybe im wrong ) ...mmh
I am unhappy of trades..This portugal occur makes a big shake on my feelings..In a normal trendıng from now on the PA must see a resistance level from yesterday support channels..after the fibo break possibility the R1 on 13452...dont anyone wants to play this, is it unpossible?
" Accepting losses is the most important single investment devise "
  • #216,317
  • Mar 25, 2010 10:51am Mar 25, 2010 10:51am
We are in a range. Like a prostitutes panties...up & down...up & down
  • #216,318
  • Mar 25, 2010 10:52am Mar 25, 2010 10:52am
Quoting Clouds
Depends on the win ratio. If you win 95% of the time, yes. If the horse you bet has won 90% of the time I'd throw down $100 to win $20. Everyone has build their own system, and the objective is profit.
true.

but I will keep myself VERY realistic that no system here, or even no trader here is right 90% of time

one of the BEST traders I know (I guess he'll know I'm talking about him) has solid performance for a long time and his hitrate is around 80%.

I'm not talking about being lucky for a week, or even 2, or having 10 winners in a row (btw I just did that)...long term high hitrate is much more difficult.
  • #216,319
  • Mar 25, 2010 10:59am Mar 25, 2010 10:59am
http://online.wsj.com/article/SB1000...LEFTTopStories


Merkel Sees Combined Aid for Greece
  • #216,320
  • Mar 25, 2010 11:00am Mar 25, 2010 11:00am
long............................untill 3393
403 traders viewing now, 1 is registered:
Yaruki