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  • #336,701
  • Dec 1, 2010 8:28am Dec 1, 2010 8:28am
Quoting kuroro001
why already ?
i must admit you took it right under the resistance...
but i don't see signs of reversal yet...
shorts here are playing top picking
not a reversal yet... but bulls have to take 1.3117 again...
  • #336,702
  • Dec 1, 2010 8:29am Dec 1, 2010 8:29am
Quoting kuroro001
why already ?
i must admit you took it right under the resistance...
but i don't see signs of reversal yet...
shorts here are playing top picking
I did not like the PA there after I got long, I took a small loss and am calling it a day. Good luck to all, stop by later....
Look Sharp/Trade Tight
  • #336,703
  • Dec 1, 2010 8:31am Dec 1, 2010 8:31am
Quoting apt
Lost 40 pips trying to guess.

Patience, shorting at 1.3075

Long at 1.3165

I am up for whichever, short will have bigger payoff however.

No need to guess, a line and a box will keep you profitable all day long:
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  • #336,704
  • Dec 1, 2010 8:33am Dec 1, 2010 8:33am
Quoting vlady1974
Exited my Short @ 3112 for a nice little scalp pre news.
Not trading news... especially during a hot & spicy thai curry lunch.

Long @ 3123.9, Long Target 3176 but watching every 20 pips for resistence.

Out @ 3108 for -15. gonna lay low til further confirmation I think.
A pip is only worth it if you know how much you risked to earn it
  • #336,705
  • Dec 1, 2010 8:35am Dec 1, 2010 8:35am
Quoting fontu
waiting a pullback to 3061 or any for long to test .though there chances more correction will target 3218.

fontu
i have 3077 but it is a 50 50 chance daily range so far is 100 pips at least 50 more to a 100 more imo.

waiting for news at 10 est.. i anticipate the news will be good for the dollar. ISM has been good couple of times

jmo

good luck
  • #336,706
  • Dec 1, 2010 8:36am Dec 1, 2010 8:36am
Quoting ukcool
That is one golden piece of advice. Since I also traded like this once upon a time.

On this thread the !d!ots are outdoing the muppets in the race to the bottom. Patience is a rare commodity in the noobs posting here. Trading is not rocket science, wait for a confirmed direction and ride the "fat" part of the move, once she starts thinning out, take your profit and wait for the next train, rinse and repeat. Don't buy the resistance and don't sell the support, wait for a break, anticipate the fakeout and ride the confirmed test of the alternate, when resistance becomes support and vice versa. No Indies required, just a couple of lines and a few areas of interest, price will do the rest for you.
  • #336,707
  • Dec 1, 2010 8:37am Dec 1, 2010 8:37am
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
Quoting cloggie
No need to guess, a line and a box will keep you profitable all day long:
Thanks cloggie.

Going back to your previous post, that is my issue. Trying to go off of one pip movement and being desperate to catch the movement.
  • #336,708
  • Dec 1, 2010 8:38am Dec 1, 2010 8:38am
Quoting athenaesword
omg I just had to close out my EJ short at the highs
Glad you got out of your short athenaesword? You would have been at least 90 pips down by now.
  • #336,709
  • Dec 1, 2010 8:38am Dec 1, 2010 8:38am
Quoting cloggie
Most noobs here show an overexuberance to get in within a pip or two of a move, too scared to miss out on those few pips and thereby entering into trades that have no technical merit. Most days here it is a race between the silly bottom pickers and the desperate. If the noobs just learned to be patient and just take the trades that have shown a confirmed direction, it will do wonders to their equity curves. Trading is only hard because the trader itself keeps getting in the way of any chance of success in this business.

Ah well, rant over.
Tops and bottoms have technical merrit. Just not everyone has the right tools
  • #336,710
  • Dec 1, 2010 8:39am Dec 1, 2010 8:39am
Quoting swing 123
short taken 3115 15 pip sl
@ BE
  • #336,711
  • Dec 1, 2010 8:39am Dec 1, 2010 8:39am
Quoting cloggie
On this thread the !d!ots are outdoing the muppets in the race to the bottom. Patience is a rare commodity in the noobs posting here. Trading is not rocket science, wait for a confirmed direction and ride the "fat" part of the move, once she starts thinning out, take your profit and wait for the next train, rinse and repeat.

Cloggie I agree you need to take profit according to what the market action is doing, trending let her ride ranging be respectful of the market, because it does not give a shite about you or me or the guy or lady next to us.

Changing my siggy..
Know when to hold em, Know when to fold em!
  • #336,712
  • Dec 1, 2010 8:42am Dec 1, 2010 8:42am
Quoting cloggie
On this thread the !d!ots are outdoing the muppets in the race to the bottom. Patience is a rare commodity in the noobs posting here. Trading is not rocket science, wait for a confirmed direction and ride the "fat" part of the move, once she starts thinning out, take your profit and wait for the next train, rinse and repeat. Don't buy the resistance and don't sell the support, wait for a break, anticipate the fakeout and ride the confirmed test of the alternate, when resistance becomes support and vice versa. No Indies required, just a couple...
aw yea cloggie...well said.

/agree
  • #336,713
  • Dec 1, 2010 8:43am Dec 1, 2010 8:43am
Quoting apt
Thanks cloggie.

Going back to your previous post, that is my issue. Trying to go off of one pip movement and being desperate to catch the movement.

Not going to teach you how to suck eggs, but look at my charts I posted. You went long at the box area of resistance and when that failed you went short at the intraday support TL that was formed during Asia. Use those charts now as a tool to find your next trade, as long as the TL holds, scalp your longs, when the TL goes expect a retest from the bottom as a resistance (that's your fake) if the TL holds, scalp a long till the resistance box, if the resistance box goes, expect a fake and a test as a support, so don't go jumping on the first M5 bar you see that goes above it, make sure it alternates as a support first before taking a trade. That should keep you out of trading the thin parts of a move that is exhausting itself at appropriate support and resistances

Good luck.
  • #336,714
  • Dec 1, 2010 8:43am Dec 1, 2010 8:43am
this second bear chart. first already completed.. more of a scalpers chart.

if we cross 3110 we go back to 3124.. atm 3096.. if not we continue lower. invalid below 3094. very st..
Attached Image
those who can, do. those who cant, talk about those who can
  • #336,715
  • Dec 1, 2010 8:43am Dec 1, 2010 8:43am
Quoting goods
Cloggie I agree you need to take profit according to what the market action is doing, trending let her ride ranging be respectful of the market, because it does not give a shite about you or me or the guy or lady next to us.

Changing my siggy..
probably you should add to your signature: "Know, when 2 points become a range"... everything will be much easier then
  • #336,716
  • Dec 1, 2010 8:43am Dec 1, 2010 8:43am
Quoting T@rantula
aw yea cloggie...well said.

/agree

He forgot one major important thing. Mental stop loss not hard stop loss!!!
Know when to hold em, Know when to fold em!
  • #336,717
  • Dec 1, 2010 8:44am Dec 1, 2010 8:44am
Quoting goods
Cloggie I agree you need to take profit according to what the market action is doing, trending let her ride ranging be respectful of the market, because it does not give a shite about you or me or the guy or lady next to us.

Changing my siggy..
Now Im going to be singing your signature song in my mind all day lone! LOL
  • #336,718
  • Dec 1, 2010 8:44am Dec 1, 2010 8:44am
Quoting Mr Hatch
probably you should add to your signature: "Know, when 2 points become a range"... everything will be much easier then

You learn this you can trade $100 a pip
Know when to hold em, Know when to fold em!
  • #336,719
  • Dec 1, 2010 8:45am Dec 1, 2010 8:45am
Quoting PipChick
Now Im going to be singing your signature song in my mind all day lone! LOL

Inserted Video


I will let this motivate the others
Know when to hold em, Know when to fold em!
  • #336,720
  • Dec 1, 2010 8:46am Dec 1, 2010 8:46am
Quoting cloggie
Trading is only hard because the trader itself keeps getting in the way of any chance of success in this business.
TQ.
I will remember this line.
Good day, I'm okay. Bad day, I'm okay. What's the difference?
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