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  • #284,661
  • Aug 23, 2010 3:08am Aug 23, 2010 3:08am
Quoting Precap2
Doesn't your broker allow taking out half the trade? Like if you have a full lot you can decide to take out 0.50 and allow the remaining 0.50 run at BE? Consider it then

Holla me!
Yes, I just did that.
  • #284,662
  • Aug 23, 2010 3:09am Aug 23, 2010 3:09am
Quoting DrLobo
Hi,

I was wondering if you could tell me what indicator are you using in this chart ?

Many thanks !
Step MA, RSI, MA of RSI. Blue boxes are drawn by hand to indicate to me areas of interest
Look Sharp/Trade Tight
  • #284,663
  • Aug 23, 2010 3:13am Aug 23, 2010 3:13am
so the data was mildly negative, is that why the pop?
Look Sharp/Trade Tight
  • #284,664
  • Aug 23, 2010 3:14am Aug 23, 2010 3:14am
i didnt want to short euro now.. my daily trend says me that euro wanna go up.. key resistance is at 2744.. but if it break through 2647..and close below that..then i take euro as a short for the rest of the week.. otherwise i m in long on any downward movement below 2670 or above 2761.. regarding usdx the resistance is held on 83.58 and 83.90..but i m keenly looking the support 82.85 and if breaks then towards 82.20 and 81.70.. so better is to take euro as a short term either for long or for short.. didnt want to take the trade in a long run
  • #284,665
  • Aug 23, 2010 3:16am Aug 23, 2010 3:16am
News message h3 { font-size:14px; } p { font-size:12px; } [EMU AUG FLASH PMIS], torn between mixed German & French prints, followed neither as both manuf & services reads deteriorated. The manuf headline dropped to 55.0 from 56.7, worse than f/cs of 55.5 while the services index edged down to 55.6 from 55.8 prev, just a tad better than f/cs for a dip to 55.5. In the breakdown, manuf output fell to 57.2 form 58.7 in Jul while employment dipped to 51.0 from 51.1. Services expectations, on the other hand, improved to 68.1 from 66.5. Recall, Germany & France reversed traditional roles with the former surprising with services strength while reporting a weaker manuf index as exports dwindled & consumption benefitted from sharp Q2 growth. In contrast, France reported manuf strength but had to cave in to services pressures as high unemployment (expected at 10% in Q2, data due Sep 02), fiscal cuts & a rise in the retirement age dampened the French spending mood.
those who can, do. those who cant, talk about those who can
  • #284,666
  • Aug 23, 2010 3:17am Aug 23, 2010 3:17am
Stocks in Asia did not take a big hit overnight and stocks in Europe right now are doing pretty good.

Its not supporting down move. There is no clear direction now nor a "really" good trading opportunities, just scalping 1/5min tfs which ofc might keep one busy

Some upside correction would be proper thing, eyeing weakness.
They think they are smarter than I am.
  • #284,667
  • Aug 23, 2010 3:21am Aug 23, 2010 3:21am
05/10 resistance to cap the bounce? well know in a few
Attached Image (click to enlarge)
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Look Sharp/Trade Tight
  • #284,668
  • Aug 23, 2010 3:21am Aug 23, 2010 3:21am
long usd/jpy 85.35
those who can, do. those who cant, talk about those who can
  • #284,669
  • Aug 23, 2010 3:24am Aug 23, 2010 3:24am
Quoting gatorinla
long yen. 85.35
What's your thinking, if you don't mind?
Doing what you like is Freedom. Liking what you do is Happiness.
  • #284,670
  • Aug 23, 2010 3:26am Aug 23, 2010 3:26am
Quoting PayTheLimit
so the data was mildly negative, is that why the pop?
ignore all technology, put yourself in chaotic middle eastern bazaar & ask yourself what dealers do now...classic pushcart all about psychology.Only 1 truth in all this mess is what comes up most go down & oposite.Looking 4h with 1 month scroll back we are at bottom of chart & assuming that markets are 70% of time ( or more in ranging ) what would you do ?
  • #284,671
  • Aug 23, 2010 3:29am Aug 23, 2010 3:29am
Quoting vanyxster
ignore all technology, put yourself in chaotic middle eastern bazaar & ask yourself what dealers do now...classic pushcart all about psychology.Only 1 truth in all this mess is what comes up most go down & oposite.Looking 4h with 1 month scroll back we are at bottom of chart & assuming that markets are 70% of time ( or more in ranging ) what would you do ?
and right now feels like the market is a little short
Look Sharp/Trade Tight
  • #284,672
  • Aug 23, 2010 3:31am Aug 23, 2010 3:31am
Quoting realjumper
What's your thinking, if you don't mind?
japan officials have a meeting later on. ..maybe stimulus . this may try to weaken the yen. i have wanted to long it for a while with the 15 yr low. i figure r/r is ok.. so i took the chance with the current bottom..
those who can, do. those who cant, talk about those who can
  • #284,673
  • Aug 23, 2010 3:32am Aug 23, 2010 3:32am
can we muster enough gas to test 25/30 now?
Look Sharp/Trade Tight
  • #284,674
  • Aug 23, 2010 3:35am Aug 23, 2010 3:35am
Quoting T.E.Lawrence
I often have this problem with greed. I went short from 2710 with a pretty big lot, already have a nice profit, SL already moved to BE (risk free trade) - but I'm hesitating to take what's on the table, and instead I let it flow (I'm afraid there will be a further move down and will regret getting out so quickly) risking that PA will move against me, leaving me with nothing.

I noticed that recently no longer I'm working on my trading strategy, but on my psychology. In my case - there's the key to successful trading. My trading system is ok, but...

I can really second that , as a newbie I just can’t get it correct .

Currently short from 2708 SL at 2735 was up 20 pips at one stage.
when I take pips of the table it will run when I don’t the pull back takes out my SL.

Until I resolve this issue I will never make it as a trader.
Any way the trades in and live and I am going to let it run
  • #284,675
  • Aug 23, 2010 3:37am Aug 23, 2010 3:37am
Quoting PayTheLimit
and right now feels like the market is a little short
adding probabilities most retail traders look for breakouts that is one of reasons why they lose they money as 70 % time is ranging so why dont use that fact ...scale trades dont average down.You can scale in trend too, but what i did find out is that trend is not my friend ; )
  • #284,676
  • Aug 23, 2010 3:38am Aug 23, 2010 3:38am
Quoting T.E.Lawrence
Yes, I just did that.
I think u re one of the best who made good contributions to this thread..i have traded and made money so many times before even escaping with big lots and i thought i was infallible untill i lost all my investments and now in debt. Now i am starting from the scratch..pls dont allow Big lots ruin ur excellence
  • #284,677
  • Aug 23, 2010 3:40am Aug 23, 2010 3:40am
Last week, price ranged between 1.28-1.29 (the entire week).

Look like this week is setting up to be the same as lat week with price currently ranging near 1.27 at the top of the channel.
Attached Image (click to enlarge)
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  • #284,678
  • Aug 23, 2010 3:41am Aug 23, 2010 3:41am
Quoting gatorinla
japan officials have a meeting later on. ..maybe stimulus . this may try to weaken the yen. i have wanted to long it for a while with the 15 yr low. i figure r/r is ok.. so i took the chance with the current bottom..
Ok, thanks for that. I'm thinking along the same lines but I'm waiting for the result before I act. My thinking is that if they don't continue or add to the stimulus, the market will drop. I don't think that's likely, but it couldn't hurt to wait a bit.

The only news I've had so far is rumours of a phone call...lol....

Edit. Do you know when the meeting is?...gmt if possible
Doing what you like is Freedom. Liking what you do is Happiness.
  • #284,679
  • Aug 23, 2010 3:43am Aug 23, 2010 3:43am
Quoting gatorinla
japan officials have a meeting later on. ..maybe stimulus . this may try to weaken the yen. i have wanted to long it for a while with the 15 yr low. i figure r/r is ok.. so i took the chance with the current bottom..
Support on usd/jpy seems to be very strong here..
  • #284,680
  • Aug 23, 2010 3:43am Aug 23, 2010 3:43am
(I am still learning but have a suggestion)

In this situation is not better to get out ... and wait for this uptrend to exhaust itself out (just wait for Stochastics to cross over again on the 1h chart ??) and then short.

Quoting Prosac_100Mg
[font=Times New Roman][size=3]I can really second that , as a newbie I just can’t get it correct...
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