EURUSD

wise words brother

Thanks for your post. It will help me explain my trading style.

When the Forex markets move in the currency that I am trading I always try to see if there is any news out there to explain the move. Sometimes it might take 30 minutes or more to get information and even then it might just be an opinion and not fact. In this case it seems to be portugal and China and 100% unconfirmed and then so what.

By having a chance to review what caused the spike I have a chance to decide. I waited a bit and then shorted at 1.3171 and then took a quick profit. That is another reason I win because I am not afraid to take profits understanding why and not being greedy and also being aware of data coming out at 8:30 AM

I hope this post explains my style concerning the news part of my fundamental trading. We also had people getting stopped out so there was short covering as well. By being calm patient and able to think properly you increase your odds of winning.

Being in the market guessing and under stress leads to bad decisions.

I had a trade plan and executed it.

I had a limit out but over rode it because I was happy taking a lessor profit however a good profit in a few minutes.

I do about 25 trades a day for every $50,000 under management. In the last ten days I have been only making about 10 trades a day for every $50,000 under management. At 100 to 1 leverage I never trade more than 20% of the capital and never risk more than 5% on one Trade Plan.

I also scale in my purchases to get excellent entry points.

I used to buy in larger blocks and it was more difficult to manage.

EUR/USD at 1.3144 and EUR/JPY at 109.75 still below 110.00 and USD/JPY strong at 83.49

UCAD

Are those all in EURUSD?

I think we''l finish the day around 3050.

Congrats to those that got in around 170 0r above

kumo breakout downtrend just started

charts please

http://img29.imageshack.us/img29/1898/60466145.gif

best to take at pivot 1.3124. usd chf is far down already

AUDUSD

i do rly like your charts bro ,

pretty clear expression

Fake upside breakout...back below bid zone 1,3135-50

Thanks Phanti...

where r u targeting for K ? next 2-3 hours

USDCHF

it was very short break out like usually on 1M chart but enough for me. Ichimoku scalping is the safest. bye

When I first started trading years ago I only went long EUR/USD. Once that run was over and I saw the carry trade in USD/JPY being challenged by the US Dollar, I only traded USD/JPY short all the way from 118.00 in fact.

Then I started trading USD/CAD for awhile and then EUR/JPY not understanding the correlation between EUR/USD.

I mainly stick to these currencies since I trade understanding the news and I have more than enough data to digest with those.

Since USD/JPY is too low for me to trade as INTERVENTION is always possible for now and I know EUR/USD best I trade it only in one direction which is short.

If I see a major trend change then I might go long.

Patience is a virtue and I short at the top of the Bollinger Bands using different time charts for good entry being aware of what news is scheduled for release and as I have already explained watching the money flow.

My profit target each month is 10% a month.

I usually reach it and with less risk than buying and holding which is dangerous to do in these present markets.

Thanks for the question.

Hi

Its tricky here, after the one hour close i went short despite we didnt take the lows..

Im expecting it to play in this range and drop if we go above 50 ill close.

in 2-3 hours i can't really tell.
I am just stating what i see but no positions until next year.
For the downside 1,3070-90 area is important...once it gives up maybe a tiny support around 1,3050-60 then 1,2980.

Right now its testing the 1,3145-50 where we've seen the breakout.
A successful bounce off it and down we go

Hope they here us. If not ill take the loss...

Ur of trading?? Why??

Yeh it would be nice to see it another leg down.

Low liquidity...and i do not like all these H1 spike up from the last 2 days.
It seems the strategy is to short small lots with wide sl to make sure you won't get hit.

And if it wasn't the end of the month the pair should have made new low already.
I am out of this...watching you guys