EURUSD

Nice bull run , FE100 printed at 1.4040.

Shah why are shorting! we have not reached the level where the bear sits. Good luck buddy.

Let's see, last resistance 1.3941. Still inside shorting area.

I quit.


Going to the Bahamas tomorrow. I haven't seen greed this strong in quite a while.

I understand but I'd wait for a couple daily reds after such a big upmove .

whats a couple hundred pips if it is the start of a new trend?

I don't really see much major resistance up until about 1.4500 besides the psych level 1.4. Am I missing something here? I know we haven't had much correction for a while now and this seems a lil strange but I'm trying to figure out where people are getting their figures for a top anytime soon...

I think BOJ will intervene tonight 0:00 GMT.

Or they might wake up next day with 2 YEN per Dollar valuation

Through all the drivle that has been posted today, this one definitely took the cake for me:

I've put "x"s instead of leaving the poster's original name to somewhat anonymize it because this isn't a personal attack on the poster, but rather an opportunity to attempt to teach a lesson.

Now, I always try to give people the benefit of the doubt and assume that they have some idea of what they're doing. However, with the nature of this game and this forum, it's not unlikely that this poster is a complete n00bie (yes I like to use zeros) and has no idea what he's doing.

Looking briefly at the post, I would say this is a safe assumption. Veteran and successful traders know that the market can do anything at any given time. The conviction and absolute verbiage used by this poster was nothing short of ignorant, provincial, and reckless. Words like "can't", "won't", etc. should be red-flags to any readers here.

So who can learn a lesson from this? Well, both this poster/trader and any newbies that blindly follow posts or calls on these threads.

On a side note, I have very strong feelings and even less respect for those that blindly follow others' calls. If you're one of these people, I can't help but not feel sorry for you when you get what's coming to you (a blown account). For those genuinely trying to learn... my heart goes out to you.

So back to the lesson... firstly, this poster learned his lesson the hard way as EUR/USD has blasted through his unbreakable 1.3880 figure. We're currently up more than 45 pips from that level and not only did it happen today (which he stated couldn't happen), but it happened within a couple hours of his post. Remarkable? No, not really... I wasn't surprised at all. Hopefully the poster realized today that anything can happen and the markets can move wherever they want whenever they want. If he can walk away with that, then he'll become a better trader.

Secondly, other posters and n00bies can learn something here. You need to think for yourself and not follow anyone blindly. I wouldn't even advocate following any seniors here blindly. Find your niche and your own trading style and use others' posts here as challenges to your own convictions. There are quality posts on this forum and those are the ones you should be comparing your own analysis to. Posts like the one I quoted above should literally make you laugh out loud... that's the only attention you should pay to it.

Most every trader goes through this phase of thinking in absolutes. It's tough to learn how to remove your beliefs and expectations of what the market should and should not do. But when you can, you realize that you can't have expectations of what the market will do... they simply cloud your judgment.

Hope this post helps someone and I hope the original poster does not take offense to me using him as an example.

Best trading!

http://www.forexfactory.com/showpost...stcount=299659


didn't I tell u on oct 1st, 1.4

Yep, posted that chart on here yesterday, bud. But I've got my target set to 1.3990 cause I'm gonna be a chicken in that last 50-60 pips.

Nice to see you here.

I'll short at 1.4043 , this is when ab=cd on the daily

Also true... but was just thinking to go against the trend for the correction and then exit... that all...

I was just wandering how far can it go...?

Not if I get to it first.

I've done phenomenally well for Sept, because all I did was trade the fundamentals.

Last night, I dropped my trading plan. I place a buy above the range (.375ish), and below(.340ish). When it tapped the .375ish mark, and I wokeup to a $200 lose, it threw off my entire trading psychology. Instead of reveling in the fact that I was up over $500 for the week still...I began simply ignoring everything the market was telling me, and placing blind, over leveraged bets based on what the 5 min chart was doing for the moment. I was going against everything fundamentals were telling me. I forgot the golden rule. OVER THE SHORT TERM, THE MARKET IS A VOTING SYSTEM. OVER THE LONG TERM, IT IS A VALUATION SYSTEM.

I went against everything I've been doing for the last month in order to get that "quick fix". It resulted in my total losses for the day eclipsing $1100, and killed 30% of my account value.

Time to let this one go, and get back to the basics.

Wow it's all on the edge, let's see.

I've been trying to buy dips but it never triggers my order. I would have gotten in a few hundred pips ago but without a dip I'm afraid the moment I buy we'll see a correction and hand me another loss... don't wanna pick tops here but also don't wanna get in on the top side of a big move with little correction

Yeah, nice to see you here too pal. Getting more picture here. I don't think that call chicken, i call it "Wise Mind". As long achived your goal is more important than chasing the PA.
Great call pal. Green pips for you as always

I have been blessed lately. I used to trade a short term system...with break-even results so far even if my backtesting made a good point that my system would be profitable but at the end...it was not. After a year trading this...I got tired and decided to switch to something more relax. I finally moved to a daily trend-following method and the first trade I jump in...is this amazing EURUSD uptrend...I couldn't wish for a better introduction to trend following !

Wish all struggling short-term traders could enjoy the same feeling...no more short-term for me...no more stop-losses feeding the trend for the trend-followers. No more heroic reversal trades...I'm no heroes anymore...just a little sheep following the herd...and it feels good, really good !

Wishing all the best

Love !

Pat

395 is strong resistance should get some pull back there

I've been focused primarily on Gold and holding on for some really decent green. I see EUR slapped USD up side down and wanted to join in on the action. Is it a abit late for an entry position to go long at this point or should I wait until there is a bit pullback.

Any input is greatly appreciated. Thanks to all

Though set target area as 4228 in advance yet seeing 3946 or around may stop for now & need correction .may close long & wait for correction .
fontu