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EURUSD

  • #319,781
  • Nov 4, 2010 11:35pm Nov 4, 2010 11:35pm
Sitting at the support, no spike, and no tank. Make up your mind! lol
  • #319,782
  • Nov 4, 2010 11:38pm Nov 4, 2010 11:38pm
Quoting forextine
Sitting at the support, no spike, and no tank. Make up your mind! lol
Down ... not quite a tank, but down (5 minute chart). Still short on the 5 min from like 40 minutes ago.
  • #319,783
  • Nov 4, 2010 11:41pm Nov 4, 2010 11:41pm
Quoting GulfCoastPip
As they say ... opinions are like assholes. Everyone has one.

There's very few on FF that have walked the walk and talk the talk. Those that have make monthly withdrawals from their b0rker others are funding their account.
ok no comment about it.
COT: The precious data ignored
  • #319,784
  • Nov 4, 2010 11:43pm Nov 4, 2010 11:43pm
Quoting GulfCoastPip
Down ... not quite a tank, but down (5 minute chart).
Target?
  • #319,785
  • Nov 4, 2010 11:45pm Nov 4, 2010 11:45pm
Alright guys and gals ... it's been fun, but I'm out. Back to trading. I'll check back in in a couple of days. If I don't respond you can always send me an email or pm.
  • #319,786
  • Nov 4, 2010 11:46pm Nov 4, 2010 11:46pm
Quoting forextine
Target?
Very seldom do I have a definite target. I do use fibs and fans though. I also use s/r. I'd look at 1.4154 area though.
  • #319,787
  • Nov 4, 2010 11:48pm Nov 4, 2010 11:48pm
Quoting GulfCoastPip
I personally prefer the 5 minute chart because that's where I'm the most successful....
just some notes ,

1)15 trades per week can be normal and not over trading if you are using 5m charts and you are very good trader . I could say starting 20 trades can be over trading . (average 2-4 trades per day )

2)5m chart is irrelevant for the traders who use daily and 4h charts , higher time frame is essential for any trader . I personally open monthly chart first before reaching 1min chart !.

you can't skip analyzing the dominant trend or move this is basics of technical analysis .

3) (this is personal view ) ADX is an indicator just like any other just taking space on your screen to tell you what you already know .

I agree with your fifth point .
I SEE YOU !!
  • #319,788
  • Nov 4, 2010 11:50pm Nov 4, 2010 11:50pm
Quoting PayTheLimit
For the record, I closed this dumb ass trade at 4216, for a -10. Just dumb.
Why do you think it was a dumb-ass trade?

Until they conclude, all short term trades with reasonable tps and sls stand equal chance.

Did you REALLY accept the risk before jumping on this trade? If yes, entry was OK but exit was whatever you may like to call it.

The most prudent thing to do at this time is to wait for the next week, no matter what is you account balance now.

Many lose heavily because they either once again want to see a certain account balance after losing some of their profits OR they try to recover their losses. This urge is very high on the last trading day of the week or in the last few trading hours.

We all should trade professionally and prudently.
The Thief of Wall Street
  • #319,789
  • Nov 5, 2010 12:00am Nov 5, 2010 12:00am
Quoting Chicky
Why do you think it was a dumb-ass trade?
Because I traded outside my nornmal hours. I waited all day London and did not get a setup. Then late NY I see one and take it, when I know that it is a horrible time to trade for my method. Dumb.
Look Sharp/Trade Tight
  • #319,790
  • Nov 5, 2010 12:01am Nov 5, 2010 12:01am
Quoting dbfusion
just some notes ,

1)15 trades per week can be normal and not over trading if you are using 5m charts and you are very good trader...
Exactly my thought on every point.
Only the 5th point is where we all agree.

Anyway...back to trading...Frankie is in the place!!
COT: The precious data ignored
  • #319,791
  • Nov 5, 2010 12:04am Nov 5, 2010 12:04am
Quoting PayTheLimit
Because I traded outside my nornmal hours. I waited all day London and did not get a setup. Then late NY I see one and take it, when I know that it is a horrible time to trade for my method. Dumb.
Indeed...that's why i stop trading once London is closed.
But sometimes its tempting to trade after London closing...but you regret it very soon.

Hope it will be a nice day for us...for everyone!
COT: The precious data ignored
  • #319,792
  • Nov 5, 2010 12:07am Nov 5, 2010 12:07am
Quoting PayTheLimit
Because I traded outside my nornmal hours. I waited all day London and did not get a setup. Then late NY I see one and take it, when I know that it is a horrible time to trade for my method. Dumb.
You are a smart person. You realized and acknowledged a mistake.

Jessi Livermore used to wait weeks for proper set-up and time, once he did not find his set-up in three years.
The Thief of Wall Street
  • #319,793
  • Nov 5, 2010 12:09am Nov 5, 2010 12:09am
Quoting kuroro001
Exactly my thought on every point.
Only the 5th point is where we all agree.

Anyway...back to trading...Frankie is in the place!!
ASFAIK Frankfurt starts at 2pm and LON 3pm since last Monday due to changing the clock to winter time.
Enter Signature
  • #319,794
  • Nov 5, 2010 12:10am Nov 5, 2010 12:10am
Quoting johninthai
ASFAIK Frankfurt starts at 2pm and LON 3pm since last Monday due to changing the clock to winter time.
Oh right...i am still messed up with all the time changes

Thanks
COT: The precious data ignored
  • #319,795
  • Nov 5, 2010 12:11am Nov 5, 2010 12:11am
Quoting Chicky
You are a smart person. You realized and acknowledged a mistake.

Jessi Livermore used to wait weeks for proper set-up and time, once he did not find his set-up in three years.
Thanks. I may trade short term, but that does not mean I have to trade every day. I guess the most difficult thing in this business is not trading.
Look Sharp/Trade Tight
  • #319,796
  • Nov 5, 2010 12:16am Nov 5, 2010 12:16am
At the moment I have no positions open........ hesitant to go long even with a weak $, IMO euro zone has some ghosts in the closet and when they finally escape a drop will be in the cards. For now...... observing
Enter Signature
  • #319,797
  • Nov 5, 2010 12:20am Nov 5, 2010 12:20am
Quoting johninthai
ASFAIK Frankfurt starts at 2pm and LON 3pm since last Monday due to changing the clock to winter time.
2pm and 3pm of what time zone?

I am a bit confused since last night. Cannot trust Forex Factory's schedule becuase in last couple of years the change was a bit untimely.

Can anyone please confirm:

Frankfurt opens at 3:00 AM Eastern Time (NY time) - in one hour and 40 minutes
London opens at 4:00 AM Eastern Time (NY time) - in two hours and 40 minutes

Thanks.
The Thief of Wall Street
  • #319,798
  • Nov 5, 2010 12:21am Nov 5, 2010 12:21am
My time zone in Thailand but this means that FRA opens in 1 hour and 40 minutes and LON in 2 hours and 40 minutes.
Enter Signature
  • #319,799
  • Nov 5, 2010 12:23am Nov 5, 2010 12:23am
I think that in US they change time this weekend ?
Enter Signature
  • #319,800
  • Nov 5, 2010 12:30am Nov 5, 2010 12:30am
Quoting kuroro001

Hope it will be a nice day for us...for everyone!
Nice trading yesteday K, good luck today...
Look Sharp/Trade Tight
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