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  • #234,021
  • Apr 30, 2010 4:10am Apr 30, 2010 4:10am
Quoting Leeson
Morning All,

Should I close my shorts from 1.3240? I am guessing this will go up big time on greece news... What you do if you were short since 1.3240??
Dunno, its a matter of how much you willing to lose.. I would hold that up, i know its hard...but I've lost over 10 trades last 2 weeks when shorted and then closed at BE+ when it started turning down... Do you imagine I had 3 shorts 1.3300 1.3330 and 1.3398 and CLOSED them with 0 or little profit just before slaughter to 1.3100 ? And they were 2 lots each... damn..

Do what you feel like, make an analysis for longer term
  • #234,022
  • Apr 30, 2010 4:10am Apr 30, 2010 4:10am
MW: More austerity on way as Greece readies for aid plan; Markets calm on hopes rescue plan to be finalized in coming days.

Hopes that no hair-cut on banks in this rescue package.
  • #234,023
  • Apr 30, 2010 4:13am Apr 30, 2010 4:13am
Quoting Leeson
Morning All,

Should I close my shorts from 1.3240? I am guessing this will go up big time on greece news... What you do if you were short since 1.3240??
if youre asking what to do. then its obvious that you already dont have a back up plan.

so take that loss.

cheers
  • #234,024
  • Apr 30, 2010 4:15am Apr 30, 2010 4:15am
Quoting jest1081
if youre asking what to do. then its obvious that you already dont have a back up plan.

so take that loss.

cheers
feeling sad for him, when i saw him asking...

EURUSD 15m tf MACD up move calming down.. not saying it may stop going up... its just slowing down....
because for the next few hours, if the MA55 crossing below the 100 could end up having a longer suffer another next week in nightmare...

So far we are still inside the cloud above 0, if we exitted the cloud id suggest to short... talking MACD here...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #234,025
  • Apr 30, 2010 4:17am Apr 30, 2010 4:17am
Quoting bguguen
i have a couple short since 1.3181 gona keep it that way....just becareful for today... you may not know but Fridays is known t be freaky... we have yet to see a down movement for today...
It's a small position so I will hold it, on long term the fundamentals point down no doubt about it, even if greece is bailed out all of the block will be much weaker. In the end of the day someone has to pay for the huge bills!!
  • #234,026
  • Apr 30, 2010 4:19am Apr 30, 2010 4:19am
Quoting jest1081
if youre asking what to do. then its obvious that you already dont have a back up plan.

so take that loss.

cheers
You're right! I was wrong, big mistake, thinking we woudn't go higher than 1.33...

Live and learn (the hard way)...
  • #234,027
  • Apr 30, 2010 4:27am Apr 30, 2010 4:27am
Quoting Leeson
It's a small position so I will hold it, on long term the fundamentals point down no doubt about it, even if greece is bailed out all of the block will be much weaker. In the end of the day someone has to pay for the huge bills!!
not only fundamentals pointing down, using the MA System (8,21,55,100,200,365)

H4 and Daily pointing down, but m30 and h1 charts been showing up move...

another Big bear versus baby bull scenario...

i wonder how much this bear can hold...
i hope it can...

MACD 15m showing an easing of up move... we might be seeing a top now...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #234,028
  • Apr 30, 2010 4:28am Apr 30, 2010 4:28am
Quoting Leeson
It's a small position so I will hold it, on long term the fundamentals point down no doubt about it, even if greece is bailed out all of the block will be much weaker. In the end of the day someone has to pay for the huge bills!!
I think max 1.3340-50 today, then deep dive down, check point at 1.3270

So, if small position, no probs to hold it. You can always close it with less loss waiting this come some down. Look at small timeframes.
They think they are smarter than I am.
  • #234,029
  • Apr 30, 2010 4:33am Apr 30, 2010 4:33am
Quoting Leeson
You're right! I was wrong, big mistake, thinking we woudn't go higher than 1.33...

Live and learn (the hard way)...
thing is, you may be right abt the general direction but you will likely be wrong with the action and impulse. this is where most traders get caught out.

there is no such thing as a perfect entry.
thus you will always need counter measures on how to tackle these when your trade get caught.

im also net short,
the first short started at 3181, now im averaged at 3283, scaled out when price retraced down to 3210 yesterday and rebuilt the shorts on early trading,

the book took a loss of 0.15% yesterday and current floating loss stands abt 0.5%, if i had never scaled and protect my positions, i would probably be sitting on a 3% loss by now. What im saying is, trade with a plan, if youre winning...do this and that. if youre losing do this and that.
  • #234,030
  • Apr 30, 2010 4:41am Apr 30, 2010 4:41am
Quoting jest1081
thing is, you may be right abt the general direction but you will likely be wrong with the action and impulse. this is where most traders get caught out.

there is no such thing as a perfect entry.
thus you will always need counter measures on how to tackle these when your trade get caught.

im also net short,
the first short started at 3181, now im averaged at 3283, scaled out when price retraced down to 3210 yesterday and rebuilt the shorts on early trading,

the book took a loss of 0.15% yesterday and current floating loss stands abt...
Thanks everybody for your inputs. I am learning but in demo things went ok, but with real money one is constantly doubting his decisions and hesitating to enter a trade... in the end when I get its always too late... Something I must perfect really quick.
  • #234,031
  • Apr 30, 2010 4:41am Apr 30, 2010 4:41am
Because trading basicly is about a bit math as well, just keep in mind directional 100 pips moves per day, 200-300 on big day.

Today is more like 100-150 pips day, then for a good entry you should be there around +- 10% of the swing ie bulls fire from 1.3250 - 1.3350 (swing move) then you should safely short around 1.3340-60

Even though it would be 200 pips day, you are not still in the bottom, you are in the middle where and usually even in that case you end up in profit, without adding positions above.

But fibs/divs/RSI/STOCh and big trendlines should support your plan, cant rely solely on that.
They think they are smarter than I am.
  • #234,032
  • Apr 30, 2010 4:45am Apr 30, 2010 4:45am
As you see, this sucker is carrying heavy load and having hard time to punch through 1.3320. Might spike up to 1.3340-50 but i doubt it.

Then 4hr tf shows great shorting opportunity, cant really miss that.
They think they are smarter than I am.
  • #234,033
  • Apr 30, 2010 4:47am Apr 30, 2010 4:47am
Good morning guys!!! Today I woke up pretty well, already took my cofee and now let's get to work!!
Have a nice day all of you!!!
  • #234,034
  • Apr 30, 2010 4:47am Apr 30, 2010 4:47am
just shorted @ 1.3314

good luck people
  • #234,035
  • Apr 30, 2010 4:48am Apr 30, 2010 4:48am
EURUSD moved already 135 pips today (+- ADR), time to go short between pivot point 13331 and fib level 13351.
Are you guys also have a pivot point on 13331? Cause I use GMT to determine pivot points. Is this stupid?

In case we have some good news about greece... placing tight stop let say 13365. We may not forget to close all positions during the weekend. If there is news during the weekend...
  • #234,036
  • Apr 30, 2010 4:48am Apr 30, 2010 4:48am
Quoting Z3iz3i
As you see, this sucker is carrying heavy load and having hard time to punch through 1.3320. Might spike up to 1.3340-50 but i doubt it.

Then 4hr tf shows great shorting opportunity, cant really miss that.
Thanks for your help!
  • #234,037
  • Apr 30, 2010 4:50am Apr 30, 2010 4:50am
hmm doesn't seem gd.
  • #234,038
  • Apr 30, 2010 4:51am Apr 30, 2010 4:51am
Quoting Leeson
Thanks everybody for your inputs. I am learning but in demo things went ok, but with real money one is constantly doubting his decisions and hesitating to enter a trade... in the end when I get its always too late... Something I must perfect really quick.
i dont have my charts on right now coz i usually trade thru phone quotes.
but i'd just give you a small example of how i approach em.

traded price is around the close of the bars with arrows. uh, yeah i pyramid.
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  • #234,039
  • Apr 30, 2010 4:51am Apr 30, 2010 4:51am
Higher.... 3327
  • #234,040
  • Apr 30, 2010 4:52am Apr 30, 2010 4:52am
long from 3208 + 3134 = avg 3171
SAR @ 3331
The best thing that can happen to you is to find out where you're wrong.
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