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  • #373,041
  • Jan 26, 2011 10:16am Jan 26, 2011 10:16am
Hey guys here an excel sheet to help you visualize your risk/reward ratio.
You can change the numbers to fit your trading style and account balance.
Try to keep your risk lower then your reward
Attached File(s)
File Type: xls risk.reward sheet.xls   24 KB | 485 downloads
  • #373,042
  • Jan 26, 2011 10:18am Jan 26, 2011 10:18am
Quoting mercy seat
Really a beautiful picture there ! ! !

Reminds me somehow on things having seen ...

Anyway ... pause again ... enough until now ...

Today's results are plus 0.0925% ... which is far below average ... due to low leverage because on various approvement details ...

Ende ... break time ... we will wait for the news later ... as time quality is getting lower now ...



Coffee and cigarettes ...
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-01-26_17h09_ EURUSD _ min001 _1100 x 800 (BarChart).PNG Size: 40 KB
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #373,043
  • Jan 26, 2011 10:23am Jan 26, 2011 10:23am
Quoting mercy seat
Anyway ... pause again ... enough until now ...

Today's results are plus 0.0925% ... which is far below average ... due to low leverage because on various approvement details ...

Ende ... break time ... we will wait for the news later ... as time quality is getting lower now ...



Coffee and cigarettes ...
had some strong moves yesterday after london closed on reduced liquidity...
  • #373,044
  • Jan 26, 2011 10:23am Jan 26, 2011 10:23am
This is only my second post joined in DEC 2010. I have been actively looking at this thread and so far have stuck to what i know with some of the analysis here being used.

I am still in the frame of mind that i am still gambling as barring the major news (fundy's) i look at the charts, fibs etc and make an educated trade based on reason, fundamentals and technicals...not always a good thing as bias tends to get in my way alot

One of the main reasons i am posting again...is what Tarantula said about money management...this is so key...i cut a trade short yesterday Short position @ 13604....even though it retraced all the way back to 13607 after going up to 13682 i still did not close the trade....even though i knew it was the right thing to do...after tossing and turning..pulled the trigger @ 13659 yesterday evening...

When i first started i would of let it go...my SL was at 16743 after increasing it...which was a bad mistake...as well...however i think the sentiment...'trade for another day' is key. I made my PIPS back today and some but looking at my PIP count rather than my actual financials...as i want to be able to trade 20 solid pips a day to lock in.

I don't have a huge account..still learning and enjoy the banter...Cloggie is like a anti-hero...bit like the character out of Hancock...no one seems to get on with him but he does good in the end...LOL

Everyone keep it up..will starting posting my charts once i feel a little bit more confident...
  • #373,045
  • Jan 26, 2011 10:24am Jan 26, 2011 10:24am
why do I have this ill feeling that Bernanke is going to "fook it straight up"?

By It I mean the dollar and by up I mean down.

FFS, the tone of his voice is of the most wimpy I've heard. That alone will probly incite a sell off.
  • #373,046
  • Jan 26, 2011 10:27am Jan 26, 2011 10:27am
Quoting FibbinArchie
had some strong moves yesterday after london closed on reduced liquidity...
Yes Archie ... but I expect some stronger moves later ... after news release ...

A little pause therefore ... not badest idea I think

2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #373,047
  • Jan 26, 2011 10:30am Jan 26, 2011 10:30am
Quoting FibbinArchie
http://www.youtube.com/watch?v=6jwEwlZnSFY
so you're basicly saying the decline before "New home sales" published was banks and firms already "knowing" the news driving it down so when the real data went out to the rest of the public it was a retracement back up? :-| shouldn't it go down even further with new sellers in town?
  • #373,048
  • Jan 26, 2011 10:30am Jan 26, 2011 10:30am
I am back after a nice run in the cold rain... just looked at the daily and looks extremely bullish; i am getting concerned for my shorts from 3715, may be i should close for some profits... also AUDJPY has extremely low volatility, indication of some imminent big moves in near term in currencies..

decisions, decisions...

anna
  • #373,049
  • Jan 26, 2011 10:34am Jan 26, 2011 10:34am
I would love to see Bernanke say something to bring the eur/usd down ...that way I can buy the dip all the way up....I just don't understand anything he could say that we already don't know and can see...any insight????




Quoting Warwick
why do I have this ill feeling that Bernanke is going to "fook it straight up"?

By It I mean the dollar and by up I mean down.

FFS, the tone of his voice is of the most wimpy I've heard. That alone will probly incite a sell off.
  • #373,050
  • Jan 26, 2011 10:36am Jan 26, 2011 10:36am
Quoting mercy seat
Yes ... I hear you ...

But looks good now ...


Black pp line crossed ... corrective action in the making ...





;-)

Same with GU ...

Ende Gelände ...

Covered and break time pause ...
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-01-26_17h23_GBPUSD _ min005 _ 1100 x 800 (BarChart).PNG Size: 28 KB
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #373,051
  • Jan 26, 2011 10:39am Jan 26, 2011 10:39am
Quoting petehnm
I would love to see Bernanke say something to bring the eur/usd down ...that way I can buy the dip all the way up....I just don't understand anything he could say that we already don't know and can see...any insight????
He's not the sharpest tool in the shed. Read around... he spoke some pretty outlandish stuff before. Read about his helicopter cash dropping fetish.
  • #373,052
  • Jan 26, 2011 10:44am Jan 26, 2011 10:44am
Quoting T@rantula
-50 due to news




closed for -43



closed @ 3644

+ 51

Total for today: -42

The thing in Money management is also to cut ur losses. Was pretty busy in cutting losses for today.
Thankyou for posting the losers.
If we could encourage this I'am sure we could turn losing traders into more successful ones .
showing charts and entry, exit on losers we could get some valuable advice on possible reasons you may have took a bad trade or whether it was a perfectly valid entry that suffered a sudden adverse move.

I personally dont see as much help from posting winners .
posting losers looking for advice would be great.
Or real analysis and a reasoning for an entry would also be cool.
but simply posting out +so many pips ,i dont see the value in posting .
making green pips large and red pips small this is my goal.
  • #373,053
  • Jan 26, 2011 10:44am Jan 26, 2011 10:44am
+5, -3.5, -6, +6.

That was for me today after that didnt want to take any more and went out...

Hope that some of u didnt get trapped at the news for a break down i was quite tempted but passed Gladly.

Didnt take ether the long side fomc no trend day...


GL with fomc hope u get to live another trading day If u use oanda dont even try to take a trade hehehe


Well good luck see u tomorrow with some hopefully nice setups


Good luck again.


By

EDIT: picture
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-01-26_1747.png Size: 66 KB
  • #373,054
  • Jan 26, 2011 10:47am Jan 26, 2011 10:47am
Quoting Vladimir1987
+5, -3.5, -6, +6.

Good luck again.


By
Good luck to you too.. still here to hunt 1 or 2
  • #373,055
  • Edited 10:59am Jan 26, 2011 10:49am | Edited 10:59am
Quoting lev1987
so you're basicly saying the decline before "New home sales" published was banks and firms already "knowing" the news driving it down so when the real data went out to the rest of the public it was a retracement back up? :-| shouldn't it go down even further with new sellers in town?
Not entirely sure as each situation in the market is unique, but bare in mind that each transaction needs a counter party, so you create the illusion that price is going down, sellers come in and smart money buys from the sellers, they now continue buying to force price back up, (buy low sell high), the original sellers are now squeezed out of their positions creating even more buying pressure feeding the up-move, aka. a bear trap, fake out or whatever else you want to call it...

Note they also need a pool of selling into which they can buy cover for the initial short positions they sold to initiate the false move...

That's a pretty basic description, but I'm sure you catch the drift... often seen not only at news time, but often (although not always) at session openings. Also, a lot more effective and lucrative if price gets pushed to areas where stops are clustered...
  • #373,056
  • Jan 26, 2011 10:49am Jan 26, 2011 10:49am
3663 hold nicely
  • #373,057
  • Jan 26, 2011 10:50am Jan 26, 2011 10:50am
Quoting paul1
Thankyou for posting the losers.
If we could encourage this I'am sure we could turn losing traders into more successful ones .
showing charts and entry, exit on losers we could get some valuable advice on possible reasons you may have took a bad trade or whether it was a perfectly valid entry that suffered a sudden adverse move.

I personally dont see as much help from posting winners .
posting losers looking for advice would be great.
Or real analysis and a reasoning for an entry would also be cool.
but simply posting out +so many pips...
totally agree!
i just noticed that TA's winner in eu was similar to mine just slightly lower entry, but with GU I waited until it retraced back sufficiently as indicated earlier by MercySeat's chart and entered short and BE, and of course SL got hit.. yesterday GU worked, today it didnt... thats just the fx life..
  • #373,058
  • Jan 26, 2011 10:57am Jan 26, 2011 10:57am
m1
Attached Image (click to enlarge)
Click to Enlarge Name: buonvangvn_____yahoo____com.gif Size: 30 KB
  • #373,059
  • Jan 26, 2011 11:01am Jan 26, 2011 11:01am
london out...let's see
IT'S ALL ,,,, Only money in the bank count
  • #373,060
  • Jan 26, 2011 11:02am Jan 26, 2011 11:02am
Quoting snatch
I am back after a nice run in the cold rain... just looked at the daily and looks extremely bullish; i am getting concerned for my shorts from 3715, may be i should close for some profits... also AUDJPY has extremely low volatility, indication of some imminent big moves in near term in currencies..

decisions, decisions...

anna
I came to the conclusion that in your predicament anna i would set myself a retrace level at which it would be wise to exit after all if it retraces say 25% why give them pips back .
I ask myself why let it run back more than i would allow an entry stop loss on a whole position .( i always scale in)
If you use a 50 pip stop on your whole position when you enter why give back any more than that when its gone a few hundred for example .

Just my humble opinion to aid your decision.
making green pips large and red pips small this is my goal.
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