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EURUSD

  • #358,981
  • Jan 5, 2011 9:38am Jan 5, 2011 9:38am
Quoting metalcapon
If i make as low as 27 pip a day, i will stop trading. What's the point of wasting my coffee and staring at my monitor all day. lol.
It's called high leverage. As long as you have a high percentage strategy, you don't need as many pips.

Me, personally, I like the big pip numbers with minimal risk... Currently sitting on 3 orders from 3300 - 3400.

I may be looking to exit around 3100 here... Let's see how price reacts when/if it get's to it.
  • #358,982
  • Jan 5, 2011 9:39am Jan 5, 2011 9:39am
So it was one to do & another to die day , usdx bull a lot to the target & should have near end for the day 80.54 & eu then 3100 . next day should be decision making .
fontu
Attached Image
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #358,983
  • Jan 5, 2011 9:40am Jan 5, 2011 9:40am
+99 (9 X12 ) -9
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_02 Jan. 05 17.35.jpg Size: 93 KB
" Never let the past hold the future to ransom "
  • #358,984
  • Jan 5, 2011 9:41am Jan 5, 2011 9:41am
Quoting Hda
Traders: This is what I mean about Patience and position trading - It takes alot of patience. Once the trend is confirmed - you just have to sit and wait.

Youve all been with me while I remained short over the last two weeks. Thanks
u and me both - its all about how you manage the trade..if you position size right then it will allow for the trade to go against you for a bit, im glued to my screens - i am my own stop. i put in stops once the trade is in my favor 20 pips and then just keep trailing them. seems like alot of people just churn there account away...just simply by putting in tight stops and not letting trades breathe.
  • #358,985
  • Jan 5, 2011 9:41am Jan 5, 2011 9:41am
Anyone considered this too? The 2nd green UTL has a support area of approx 1.3020.

Attached Image (click to enlarge)
Click to Enlarge Name: alternative.gif Size: 21 KB


So, if we break the yellow LTL, a bounce from the green line below is very likely IMO.
  • #358,986
  • Jan 5, 2011 9:42am Jan 5, 2011 9:42am
Major Bull vs. Bear fight right now as we have touched major daily support at 1.3112. Look at the volumes! If we break this support, its gonna go South fast. There are major bull SL levels behind that line.
  • #358,987
  • Jan 5, 2011 9:42am Jan 5, 2011 9:42am
Quoting PayTheLimit
well alot depends on $/pip...
A lot as you said. but that's why we are traders.
Trade the odds, But don't get caught.
  • #358,988
  • Jan 5, 2011 9:43am Jan 5, 2011 9:43am
Quoting Martingale
That's a great post Venice and I can say that the key to be from the 5% of successfull traders is right there. Not that I am yet always part of it but that is the psycological gap to pass.
It's something I am working on as well, but things have improved so much when I removed money from it.

I look to see where price may go from here to here, set up a plan along with multiple entries (I generally buy when price is falling, and sell when price is rising) and I determine where I want to exit my trade. It makes things so simple this way...

Oh, and not leveraging to the max was a huge lesson for me. Using an appropriate account size to trade with (1%-3%) on any given trading plan.

Not that it wasn't fun making 300% one week then loosing 500% the next... hah. Not a place for consistent profitability though.
  • #358,989
  • Jan 5, 2011 9:43am Jan 5, 2011 9:43am
Quoting skozyuk
We are touching major daily trend line. If we break it, its a PLUNGE to 1.30xx area for sure, possibly 1.267x is next.

1.3112 is that the major daily trend line,....?
  • #358,990
  • Jan 5, 2011 9:43am Jan 5, 2011 9:43am
Quoting ukdaytrader
Anyone considered this too? The 2nd green UTL has a support area of approx 1.3020.

Attachment

So, if we break the yellow LTL, a bounce from the green line below is very likely IMO.
i tell you what... i find the positioning of the macd much more interesting.
  • #358,991
  • Jan 5, 2011 9:44am Jan 5, 2011 9:44am
Quoting liquidtrada
u and me both - its all about how you manage the trade..if you position size right then it will allow for the trade to go against you for a bit, im glued to my screens - i am my own stop. i put in stops once the trade is in my favor 20 pips and then just keep trailing them. seems like alot of people just churn there account away...just simply by putting in tight stops and not letting trades breathe.
I took a 120 pip draw down over 1 night to now be up around 700... most of the traders can't even think about stomaching that.

So much leverage it's ridiculous... really.
  • #358,992
  • Jan 5, 2011 9:45am Jan 5, 2011 9:45am
Quoting WallStBully
1.3112 is that the major daily trend line,....?
Look on the chart...
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_1_5_11_d1_1.jpg Size: 228 KB
  • #358,993
  • Jan 5, 2011 9:45am Jan 5, 2011 9:45am
Quoting WallStBully
USDCHF Short @ .96718
WallStBully:
I hope I get an excellent entry as you did. I am waiting until exactly 11am eastern to short the USD/CHF again and the GBP/CHF also
  • #358,994
  • Jan 5, 2011 9:46am Jan 5, 2011 9:46am
Quoting iTrader
if we break down there i'm going sell... but seems like price is reacting and not diving.. lets see
oh yes baby banked in my 80 pips and out for today ... happy trading to all others
consistency wins
  • #358,995
  • Jan 5, 2011 9:46am Jan 5, 2011 9:46am
If you're keeping shorts from 329 level
isn't a good idea to wait now with appropriate sl and see what happen next?

but what sl would be good?
  • #358,996
  • Jan 5, 2011 9:48am Jan 5, 2011 9:48am
There is a chance to buy Euro at strong uptrend trendline. This trendline has been respected 3 times. Buy limit - 1.3115.

http://img89.imageshack.us/img89/7982/eurusdd5.png

Regards,
suirad
  • #358,997
  • Jan 5, 2011 9:48am Jan 5, 2011 9:48am
Quoting Venice
I took a 120 pip draw down over 1 night to now be up around 700... most of the traders can't even think about stomaching that.

So much leverage it's ridiculous... really.

20 pip trail,...i have been trying to find a happy medium for my trails,....too small and u get clipped right away ,....too long and ure profits get eatin up on the reversal,....20 is ure suggestion?
  • #358,998
  • Jan 5, 2011 9:48am Jan 5, 2011 9:48am
Quoting liquidtrada
u and me both - its all about how you manage the trade..if you position size right then it will allow for the trade to go against you for a bit, im glued to my screens - i am my own stop. i put in stops once the trade is in my favor 20 pips and then just keep trailing them. seems like alot of people just churn there account away...just simply by putting in tight stops and not letting trades breathe.
Liquidtrada: You are abosolutely correct, but we have to remember that not everyone can afford to sit in big swings. The size of your account determines that, so we cant knock another persons equity management.
  • #358,999
  • Jan 5, 2011 9:49am Jan 5, 2011 9:49am
Quoting cloggie
. 3122 here we come

It took almost 3 hours, but we finally got the target I had in mind. These thin vols still play havoc with my calcs though. No short in sight here, the retrace can start in earnest now.

Not trading this one, too late in the day with the markets only operating at a fraction.
  • #359,000
  • Jan 5, 2011 9:49am Jan 5, 2011 9:49am
Quoting jillsaab
If you make on an average 27 pips a day with proper money management, Then you are the King my dear friend

500 minilots * 27 = 13500 dollars in a day!! (just to make it more dramatic) of course you need a million plus in margin (1:50 leverage) to keep the risk at minimum to trade 500 minilots
.Ha ha, The king in deed.
Trade the odds, But don't get caught.
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