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EURUSD

  • #221,521
  • Apr 7, 2010 7:36am Apr 7, 2010 7:36am
Quoting ak4x
..I really Doubt it's headed back north yet... I ain't packin my winter gear tho, just tank tops and flip flops...
Attached Image


S1 busted hard... once it clears the xx20 psych level then methinks it's at least wandering down to M1.... Relentless. This nice slow pace allows skizzer to reload his Longs again (and again and...) at key levels after the previous half dozen SL's have been hit... Death by a thousand cuts.

Shorts intact (check the pic... ), no TP and out for the day...
FUBAR...
  • #221,522
  • Apr 7, 2010 7:38am Apr 7, 2010 7:38am
boring day, missed my eu entry when i woke up... and its gg well..
oh well will wait for price to retrace.
had orders for other currencies tho
  • #221,523
  • Apr 7, 2010 7:39am Apr 7, 2010 7:39am
Quoting Trading Cat
cool thanks mate good on you
still holding short cat?

i would put mine at 3355 the least but didn't reach and now i'm kind of
  • #221,524
  • Apr 7, 2010 7:39am Apr 7, 2010 7:39am
Quoting jsspmk
Because so many hedge funds have been closed out by taking the opposite approach of counter trend. Of course because they are willing to do so markets have liquidity. But nevertheless counter trend methods statistically carry 'short life' expectancy. I am just trying to help out traders that are struggling by trading counter trend because they solely believe it is about risk:reward, sort of "I won't risk much anyway, but gain can be massive on this trade" attitude. That is a fallacy, even very very experienced traders struggle to benefit from...
You mean follow trend on dailies? trend on 4h? trend on 1h? trend on 30m? trend on 15m? trend on 5m? trend on 1m?

What if trend is broken? Where's the new one? Or maybe it isn't broken?

Funny - many times when I spot a trend, it disappears as soon as I place a trade.
  • #221,525
  • Apr 7, 2010 7:39am Apr 7, 2010 7:39am
Quoting Pham
Should wait for a rebound to 1.3360 again and then put a short ok ?
yeap, im waiting around that price to add a order too
  • #221,526
  • Apr 7, 2010 7:39am Apr 7, 2010 7:39am
Quoting ak4x
Attachment

S1 busted hard... once it clears the xx20 psych level then methinks it's at least wandering down to M1.... Relentless. This nice slow pace allows skizzer to reload his Longs again (and again and...) at key levels after the previous half dozen SL's have been hit... Death by a thousand cuts.

Shorts intact (check the pic... ), no TP and out for the day...
I would prefer a nice drop on a 5min bar to 3300 instead of zi zag. Tahnks anyway really would like to see € below3300.
Trade on your own risk Plan your trade&trade your plan dont be a
  • #221,527
  • Apr 7, 2010 7:42am Apr 7, 2010 7:42am
Quoting Maeglin
still holding short cat?

i would put mine at 3355 the least but didn't reach and now i'm kind of
yes still holding my short, the current 15min bar is not nice to me, but I am expecting it to go lower and 3345 to keep me safe.
Trade on your own risk Plan your trade&trade your plan dont be a
  • #221,528
  • Apr 7, 2010 7:43am Apr 7, 2010 7:43am
Quoting jsspmk
Because so many hedge funds have been closed out by taking the opposite approach of counter trend. Of course because they are willing to do so markets have liquidity. But nevertheless counter trend methods statistically carry 'short life' expectancy. I am just trying to help out traders that are struggling by trading counter trend because they solely believe it is about risk:reward, sort of "I won't risk much anyway, but gain can be massive on this trade" attitude. That is a fallacy, even very very experienced traders struggle to benefit from...
hmm, gd point for ppl who juz started out i guess.

well, but to me, countertrend and trend means e same
  • #221,529
  • Apr 7, 2010 7:45am Apr 7, 2010 7:45am
Quoting T.E.Lawrence
You mean follow trend on dailies? trend on 4h? trend on 1h? trend on 30m? trend on 15m? trend on 5m? trend on 1m?

What if trend is broken? Where's the new one? Or maybe it isn't broken?

Funny - many times when I spot a trend, it disappears as soon as I place a trade.
Follow long term trends on weekly chart & seek out entries on Daily chart & no less than 4 hour one.

Your latter point - that happens because you participate in intraday trends, lots of times oscillations offer mean reversion rather than trends & that's why you struggle with catching an intraday trend.

http://en.wikipedia.org/wiki/Mean_re..._%28finance%29
Prices oscillate, trends persist. Trend is your friend.
  • #221,530
  • Apr 7, 2010 7:45am Apr 7, 2010 7:45am
Quoting T.E.Lawrence
You mean follow trend on dailies? trend on 4h? trend on 1h? trend on 30m? trend on 15m? trend on 5m? trend on 1m?

What if trend is broken? Where's the new one? Or maybe it isn't broken?

Funny - many times when I spot a trend, it disappears as soon as I place a trade.
hmm then maybe ur stops are too tight? well it depends, there are many other factors
  • #221,531
  • Apr 7, 2010 7:46am Apr 7, 2010 7:46am
Quoting jsspmk
Because so many hedge funds have been closed out by taking the opposite approach of counter trend. Of course because they are willing to do so markets have liquidity. But nevertheless counter trend methods statistically carry 'short life' expectancy. I am just trying to help out traders that are struggling by trading counter trend because they solely believe it is about risk:reward, sort of "I won't risk much anyway, but gain can be massive on this trade" attitude. That is a fallacy, even very very experienced traders struggle to benefit from...
Agreed mate, thats the first thing I have been told many times when I attended forex seminars
  • #221,532
  • Apr 7, 2010 7:47am Apr 7, 2010 7:47am
Quoting jsspmk
Follow long term trends on weekly chart & seek out entries on Daily chart & no less than 4 hour one.

Your latter point - that happens because you participate in intraday trends, lots of times oscillations offer mean reversion rather than trends & that's why you struggle with catching an intraday trend.

http://en.wikipedia.org/wiki/Mean_re..._%28finance%29
agree
  • #221,533
  • Apr 7, 2010 7:47am Apr 7, 2010 7:47am
Quoting Trading Cat
I would prefer a nice drop on a 5min bar to 3300 instead of zi zag. Tahnks anyway really would like to see € below3300.
we have seen many decisive drops into unknown lands before, to what avail? i noticed that recently breaking of important areas is mostly done by slowly approaching and corroding them instead of using a big cannon-ball. movements become painfully slow, but it obviously works like a charm. the bounces aren't that hard either.
  • #221,534
  • Apr 7, 2010 7:49am Apr 7, 2010 7:49am
The vodoo is showing a chance this puppy is gonna rocket back up to the 3450 range!
Founder of Sutherland Wave Principle
  • #221,535
  • Apr 7, 2010 7:50am Apr 7, 2010 7:50am
Ok, deleted my order from yesterday 1.3455 and made some pips on the way down. Hope for a retrace anywhere above 50.

Man, that pa sucks!

edit: reentry now seeking at above 40 as above 50 would break short tl.
Sometimes I lose. Sometimes the others win.
  • #221,536
  • Apr 7, 2010 7:51am Apr 7, 2010 7:51am
EURO-DOLLAR: Low print was $1.3326, a trader confirms, the euro
rebounding to $1.3343 area on some quick profit-taking. Bids remain
ahead of $1.3300 where the downside strike of an option structure is
mentioned, and traders also concede that Korea CB could step in to buy
euro at any time as part of reserve balancing after overnight
intervention.

Provided by: Market News International
Trade on your own risk Plan your trade&trade your plan dont be a
  • #221,537
  • Apr 7, 2010 7:51am Apr 7, 2010 7:51am
Quoting Mr Hatch
we have seen many decisive drops into unknown lands before, to what avail? i noticed that recently breaking of important areas is mostly done by slowly approaching and corroding them instead of using a big cannon-ball. movements become painfully slow, but it obviously works like a charm. the bounces aren't that hard either.
EUR is very near the low bottom last some weeks. Lets see GBP - she rebounds strongly after kiss the bottom, then I think too risky to follow up the short now lol

thanks all.
  • #221,538
  • Apr 7, 2010 7:52am Apr 7, 2010 7:52am
Quoting suthmo
The vodoo is showing a chance this puppy is gonna rocket back up to the 3450 range!
oi no need for this I am short hehehhe
Trade on your own risk Plan your trade&trade your plan dont be a
  • #221,539
  • Apr 7, 2010 7:53am Apr 7, 2010 7:53am
Quoting suthmo
The vodoo is showing a chance this puppy is gonna rocket back up to the 3450 range!
What?
  • #221,540
  • Apr 7, 2010 7:54am Apr 7, 2010 7:54am
Quoting suthmo
The vodoo is showing a chance this puppy is gonna rocket back up to the 3450 range!
im thinking more on the 34 price. tho like i said i may make another short before that maybe 3360, 3370.

scalping and also entering long term trades

ok, good day today, hit my target of 3%. tho made more. may stop soon and take a break
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