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  • #332,321
  • Nov 24, 2010 1:08pm Nov 24, 2010 1:08pm
Quoting Mr Hatch
i also had to learn the harder way, that's for sure. it's not difficult to be successful in a trending market, and i started trading when eu started to drop last january. but as soon as we hit the 1st real range, it put me off beyond believe, because i wasn't prepared for it.
if i had just left any loser open for a couple of days in february march, i would not have lost a single trade back then... that was a lesson.

That is one of the hardest things I had to learn to realize. NOt learn but learn to realize when we are in a ranging market or trending market.
Know when to hold em, Know when to fold em!
  • #332,322
  • Nov 24, 2010 1:08pm Nov 24, 2010 1:08pm
Quoting cdsap
Still Long
You are now 100 pips down and I got my fill. Takes guts to trade against me
  • #332,323
  • Nov 24, 2010 1:10pm Nov 24, 2010 1:10pm
Quoting alex.fx
He told you he is a day trader - it's common that day traders don't use stops especially in FX.

im a position trader, but i scalp around my postitions and i always use stops.....

a lot of day traders have this mentality that they dont need stops, from where they get this i dunno?

the market is always the best teacher i guess....
  • #332,324
  • Nov 24, 2010 1:10pm Nov 24, 2010 1:10pm
Quoting goods
I suck at entries on big tf. Dont get me wrong I use big tf I scale in to M1 for my entries I do confirme it with M5 though. I go with overall trend. I am done trying to pick tops and bottoms. sometimes I will play intraday trends and if I do then and only then do I find that I have successfully picked a top or bottom. My intent is from holding for a smaller time but can grow to multiple days because the overall trend reversed and I just happened to be on a point of no return on the smaller intraday trend.
Good brother, Wish u all the best
  • #332,325
  • Nov 24, 2010 1:10pm Nov 24, 2010 1:10pm
Quoting PayTheLimit
hatch you where spot on about that resistance up there, btw, bulls could neve manage a close above 3405...
i was just watching pa and movement speed. i placed my stoplosses above dpp and have a pending there.
i read in a book about pitchfork trading and median lines that there is a very high chance of a sharp move away from a central pivot, when price does not get there. it's like exhaustion combined with resignation.
  • #332,326
  • Nov 24, 2010 1:12pm Nov 24, 2010 1:12pm
Quoting cloggie
You are now 100 pips down and I got my fill. Takes guts to trade against me
well... Is not my intention trade against you...

only i asked for stand longs... anymore...

i see that my question was fool...
  • #332,327
  • Nov 24, 2010 1:13pm Nov 24, 2010 1:13pm
Quoting cdsap
well... Is not my intention trade against you...

only i asked for stand longs... anymore...

i see that my question was fool...

I have given you loads of hints and reasons to close that long, but you ignored it. Which is absolutely fine as it is your money and trading plan, maybe you will now look back to see what I was trying to tell you and take it into account next time.

Throwing away 100 pips is not chickenfeed.
  • #332,328
  • Nov 24, 2010 1:15pm Nov 24, 2010 1:15pm
as we are still in a mofu here, i closed the short from 3340.
  • #332,329
  • Nov 24, 2010 1:15pm Nov 24, 2010 1:15pm
Quoting bradu
thanks for answer man

i blew my first live acc in 2 months ...a mini one
No problem ,
Take ur time no need to rush till u trust ur self & ur system.
GL
  • #332,330
  • Nov 24, 2010 1:16pm Nov 24, 2010 1:16pm
Quoting cloggie
I have given you loads of hints and reasons to close that long, but you ignored it. Which is absolutely fine as it is your money and trading plan, maybe you will now look back to see what I was trying to tell you and take it into account next time.

Throwing away 100 pips is not chickenfeed.
Sorry, but i didn´t see your hints...

Next time i read better
  • #332,331
  • Nov 24, 2010 1:18pm Nov 24, 2010 1:18pm
Weber: Convinced Euro Will Survive
Must not let markets call that into question.
EFSF has enough money to fend off speculative attack on euro zone (no it don’t!)

www.forexlive.com


sounds like a real challenge, doesn't it?
  • #332,332
  • Nov 24, 2010 1:18pm Nov 24, 2010 1:18pm
Quoting cdsap
well... Is not my intention trade against you...

only i asked for stand longs... anymore...

i see that my question was fool...
Brother It's good to stuck to your Plan (I hope u was had one) but when some other good traders post another view at least check your view again (Personally i do that)
  • #332,333
  • Nov 24, 2010 1:19pm Nov 24, 2010 1:19pm
.
Attached Image (click to enlarge)
Click to Enlarge Name: 11 daily nov 24.gif Size: 27 KB
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #332,334
  • Nov 24, 2010 1:29pm Nov 24, 2010 1:29pm
Quoting mfoste1
use a hard stop even, if you close your positions manually....

even if you plan on having a mental/manual stop at say 20 pips, you should still have a hard stop above that. Price can move very fast in illiquid conditions, before you know it you could be 50 pips in red when you "planned on getting out at -20....
Gotcha! Thank you for the advise.
  • #332,335
  • Nov 24, 2010 1:31pm Nov 24, 2010 1:31pm
Quoting Bles5ed
added to my short: @pivot 3349 we shall see... hoping to get to w7 low pivot -

trading from THV v3 system as chart templates 30m TF

... and a little common sense!

~Bles5ed
Whats your tp??
  • #332,336
  • Nov 24, 2010 1:33pm Nov 24, 2010 1:33pm
Quoting behman8850
Whats your tp??
3265 just above Daily S1

~Bles5ed
  • #332,337
  • Nov 24, 2010 1:33pm Nov 24, 2010 1:33pm
holiday tomorrrow banks are closing early in NY... very low liquidity... i expect asia and europe to have some action.
  • #332,338
  • Nov 24, 2010 1:33pm Nov 24, 2010 1:33pm
You need to protect your profits.


http://www.forexfactory.com/showpost...57&postcount=7
  • #332,339
  • Nov 24, 2010 1:37pm Nov 24, 2010 1:37pm
Quoting samdani786
.

Thanks 4 ur nice chart !


U mean back to 11.4 ?

R & S , That Is All !...
  • #332,340
  • Nov 24, 2010 1:37pm Nov 24, 2010 1:37pm
Quoting PayTheLimit
Bears will want a close below 3317/19 to start the next leg down.
dont know if they can manage it at this hour....
Look Sharp/Trade Tight
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