EURUSD | Page 16467 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD, GBP/USD, USD/CHF

Similar Threads

MT4: how to change "EURUSD" to "#EURUSD"? 3 replies

Re: EurUsd short term 15 replies

did oanda just drop its spread for eurusd to 1 pip? 11 replies

EA for multiple lot limit order for EURUSD 0 replies

NFP nice bump up on EURUSD 2 replies

Attachments: EURUSD
Exit Attachments

EURUSD

  • #329,321
  • Nov 19, 2010 11:08am Nov 19, 2010 11:08am
Quoting cloggie
Retail moves the market, especially if they are in line with the direction of the big boys, that's when the big boys hate us as it is momentum and volume that is joining their turns.
OK, I agree with you on that.
  • #329,322
  • Nov 19, 2010 11:09am Nov 19, 2010 11:09am
Hi Guys
Just like to say hello and thanks to all the info people post on the forum. I am fairly new to technical trading and have been reading what many of you write and it is all great food for thought.

Now I have a little pickle that I am trying to decide what to do. I went short stupidly yesterday at 1.3600, with a stop 1.3750 and T/P 1.3350. Now I was rather sweating today as I nearly stopped out and have been reading the various trading ideas. I am a little mixed about what direction this is going to go and would love anyones opinion? Part of me is thinking it is likely to test 1.3750 possibly 1.38+ in which case I am thinking of cutting my loses here at 1.3650 but I am also bearish down to 1.3350. What would people advise ride it out with original S/L and T/P? Cut losses here? Extend S/L? Any ideas would be greatly welcome.

Also I am particuarly interested in learning more about trend line trading. Are there any learning resources/tutorials people would recommend?
Thanks for your time

J
  • #329,323
  • Nov 19, 2010 11:09am Nov 19, 2010 11:09am
either way... thought we would test the top before the day was out.

i guess we still can.

one trade on the day... a buy earlier and the target was pure luck.

no bias for next week... strange time.

stan

PS - yes. i will post my losses and reasons i took the trade and lost... just didn't have any this week.
Attached Image (click to enlarge)
Click to Enlarge Name: nov19.png Size: 27 KB
  • #329,324
  • Nov 19, 2010 11:11am Nov 19, 2010 11:11am
Anyone up for selling at 1.3680 for 15-20 pips if/when price gets there?
They think they are smarter than I am.
  • #329,325
  • Nov 19, 2010 11:15am Nov 19, 2010 11:15am
see, this is incorrect. smart money does not take profit in an uptrend, they are continuously selling. they have all the supply, and they are keep asking for higher prices - again, because they own everything.

we, the suckers, are buying from them. for us it is crucial to get in at the earliest moment possible so that we can ride the trend along with smart money... hoping that other suckers will come along and buy at higher prices. and they come...

so it is important to understand that one of the most important sign of an uptrend (well at least in my understanding) is smart money SELLING. if i don't see this, i don't believe in any rally.

your observation on the timeframe is good, although a trend is a trend an any timeframe.



Quoting goods
I know what happens I know smart money takes profit as well as selling into the run. I know this occurs as opposite happens in bear run.
Nihil Sine Deo.
  • #329,326
  • Nov 19, 2010 11:18am Nov 19, 2010 11:18am
Quoting Z3iz3i
Anyone up for selling at 1.3680 for 15-20 pips if/when price gets there?
i'm selling this here 3667, sl 85
  • #329,327
  • Nov 19, 2010 11:18am Nov 19, 2010 11:18am
Quoting cloggie
Plenty on the interbank will accept bid/offers they don't even want and use it as liquidity or as balancing of their order book,
If you mentioned money flow, could you clear for me where does profit come from globally?

I buy now and close 10 pips upper, say a volume of 1, that's 100$ for me in the bag, not counting spread.
That means there's a noob at the other end of the line that sold to me 1 volume, and he lost 100$, right ?
What comes around should go around...
But the question is then, if there's a bunch of ppl that constantly win (retailers, big boys) there should be constantly a bunch of loosers, right ?
Some of newbies should be loosers, but there's much more money at stake, so also institutions should loose right ?
  • #329,328
  • Nov 19, 2010 11:20am Nov 19, 2010 11:20am
and guys, i am not administering exams here on forexfactory... what i am saying is based on my experience and my knowledge, refined to make it plain simple. the real mechanisms behind price are more complicated but for us is important to have a solid grasp on the basics - and i always prefer a simple view or approach.
Nihil Sine Deo.
  • #329,329
  • Nov 19, 2010 11:29am Nov 19, 2010 11:29am
we are at the 50% fib of the top from 8 hors ago, i wonder if we will see some selling here?
  • #329,330
  • Nov 19, 2010 11:29am Nov 19, 2010 11:29am
Quoting Scrat
and guys, i am not administering exams here on forexfactory... what i am saying is based on my experience and my knowledge, refined to make it plain simple. the real mechanisms behind price are more complicated but for us is important to have a solid grasp on the basics - and i always prefer a simple view or approach.
I see myoppertunities as a sucker and I am sure you do as we'll as clog and others. We can be smart money suckers with the edge of applying strong principles and minimizing our risk and exposure in the market.
Know when to hold em, Know when to fold em!
  • #329,331
  • Nov 19, 2010 11:32am Nov 19, 2010 11:32am
Quoting onewish
i'm selling this here 3667, sl 85
Does not look too good, waiting to see where it retraces.
They think they are smarter than I am.
  • #329,332
  • Nov 19, 2010 11:32am Nov 19, 2010 11:32am
market perhaps going close in suspense , better close & go .
happy weekend to all .
fontu
Attached Images
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #329,333
  • Nov 19, 2010 11:33am Nov 19, 2010 11:33am
Quoting onewish
i'm selling this here 3667, sl 85
not lookng good, will be stopped out soon, silly me
  • #329,334
  • Nov 19, 2010 11:34am Nov 19, 2010 11:34am
Quoting rosssurf
we are at the 50% fib of the top from 8 hors ago, i wonder if we will see some selling here?

....ok!, So, IF it is gonna be rejected at all from this 50% fib..it ain't happenin' fast. No wet cat bounce here! maybe still up....
  • #329,335
  • Nov 19, 2010 11:38am Nov 19, 2010 11:38am
I cant believe my tp was missed by this much.

sell 1.36692
tp 1.36290
low 1.36296
Missed by .00006


Now im in the red by 8 pips or so, will hold till 4p then close hopefully atleast at BE.

mIKE
  • #329,336
  • Nov 19, 2010 11:38am Nov 19, 2010 11:38am
Could someone help with posting charts? I am using an MT$ broken and when I try to post charts the file size is somwehere around 1.5 -2 Mb's. I imagine this is too large of a file to post on this forum. How do I go about saving the pictures as a smaller file size in Mb's?
Thanks in adavance.
  • #329,337
  • Nov 19, 2010 11:39am Nov 19, 2010 11:39am
Quoting rosssurf
Could someone help with posting charts? I am using an MT$ broken and when I try to post charts the file size is somwehere around 1.5 -2 Mb's. I imagine this is too large of a file to post on this forum. How do I go about saving the pictures as a smaller file size in Mb's?
Thanks in adavance.
use a .gif.
  • #329,338
  • Nov 19, 2010 11:41am Nov 19, 2010 11:41am
Quoting fontu
better close & go .
happy weekend to all .
fontu

That's what I did, see you next week fontu
  • #329,339
  • Nov 19, 2010 11:43am Nov 19, 2010 11:43am
Quoting rosssurf
Could someone help with posting charts? I am using an MT$ broken and when I try to post charts the file size is somwehere around 1.5 -2 Mb's. I imagine this is too large of a file to post on this forum. How do I go about saving the pictures as a smaller file size in Mb's?
Thanks in adavance.
Use this.
  • #329,340
  • Nov 19, 2010 11:46am Nov 19, 2010 11:46am
Quoting cloggie
Irrelevant of your definition of a trend, the big money sells in a rally and buys on drops, that's how the market works.

As a retailer you are always told to buy when price goes up and sell when price goes down, you are actually trading opposite to the real money. Think about that one over the weekend.

Another one for you to ponder is that price goes down not because of sellers, but because of buyers, as a matter of fact you don't even need a seller for price to drop.
Well yes. Actually the price goes down when profits are taken out of long positions. Thats when retracement starts. PROFIT TAKING of long positions means an automatic sell and vice versa. When u exit from buy you automatically sell back so its then when retracement starts
377 traders viewing now