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  • #375,261
  • Jan 28, 2011 9:49am Jan 28, 2011 9:49am
Quoting snatch
Sell eu 3730 sl 3765 tp 3550
i hope you took this trade... you would be 100 pips+ up, instead of looking for longs against resistance.
  • #375,262
  • Jan 28, 2011 9:50am Jan 28, 2011 9:50am
Quoting cloggie
I never use stops, I have a parachute stop on trades, just in case all my power, UPS's and internet backups go, mainly I manage the trades based on PA and get in and out accordingly. Never have a TP either, I get out when price reverses.
Well whatever works....
  • #375,263
  • Jan 28, 2011 9:50am Jan 28, 2011 9:50am
don't use stops? wow. get ready to be chased out of town. i've been hiding that for a while myself.

Quoting cloggie
I never use stops, I have a parachute stop on trades, just in case all my power, UPS's and internet backups go, mainly I manage the trades based on PA and get in and out accordingly.
  • #375,264
  • Jan 28, 2011 9:50am Jan 28, 2011 9:50am
Quoting cloggie
Guaranteed to fail then.
Stay away from the news and 9:30am EST. News is always interpreted differently depending on who you listen to.
  • #375,265
  • Jan 28, 2011 9:51am Jan 28, 2011 9:51am
Quoting cloggie
Guaranteed to fail then.
he's dead right away when spreads widen 10-20 pips apart especially NFP. lol
Make it rain baby
  • #375,266
  • Jan 28, 2011 9:52am Jan 28, 2011 9:52am
Quoting cloggie
Guaranteed to fail then.
Enter Signature
  • #375,267
  • Jan 28, 2011 9:53am Jan 28, 2011 9:53am
Quoting Santana33
Just that F**k, My last trade was a win 3695 sell, but I had no better idea that to put a short sl of 10 pips, for sure the market took it, and now after I with rage close the platform I see a shining 3650 hahahahha.

My fault, as someone said before, have to learn to let the green pips flow today I opened 3 short positions @ 3740 but took only 5 pips each time, I allways put a TP an SL but I can´t control it.

Next week I will star to practice that, nice weekend to all.
have you seen my post? same thing happening with me
  • #375,268
  • Jan 28, 2011 9:54am Jan 28, 2011 9:54am
Quoting FxPlayboy
Gonna head towards S2 @ 3584?
u a player?

shame on you. fx is not a game.
Enter Signature
  • #375,269
  • Jan 28, 2011 9:54am Jan 28, 2011 9:54am
is it possible that this reversal of the trend is influenced largely by the downgrade of Japan? as well as today news....
Ciao. Luca
  • #375,270
  • Jan 28, 2011 9:54am Jan 28, 2011 9:54am
Quoting T@rantula
Especially when trading news.

Ideal stops for intraday trading as well as not-so-important news is somewhere between 32-60 pips.

NFP is slightly different. I trade it ONLY in the direction of the trend with stop orders.

I dont hedge it as a majority do. If it spikes versus trend direction ( trendline or MA) I dont take the trade.

the thing is, some people actually trade the news successfully.
Enter Signature
  • #375,271
  • Jan 28, 2011 9:55am Jan 28, 2011 9:55am
Quoting SerpentDove
I do want to say that it's funny how much belief there is right now that this pair cannot go down. Even to the point of actually taunting bears.

Be prepared for the unexpected, that's all.
  • #375,272
  • Jan 28, 2011 9:55am Jan 28, 2011 9:55am
cloggie, if you don't mind, I asked a question about fundies a few pages ago. thanks.
http://www.forexfactory.com/showthre...19#post4353219
  • #375,273
  • Jan 28, 2011 9:56am Jan 28, 2011 9:56am
Quoting cloggie
Right now we have an intermediate trend reversal in the making, both backed by the fundies and the techies. I am looking at 3430 for next week. Not going to build a trade at this time of day as I don't carry anything over the weekend, but fundamentally I will be keeping a close eye on risk on Monday and am planning a longer term trade for 3430 and 3300
I agree to some extend Cloggie. IMO, kind of "jumping the gun" the trend reversal from TA perspective (agree on the fundamentals shifting). Giving this week action (and without todays weekly close). TA bull steam can extend as far as 1.390x without invalidating your FA and TA analysis.

However, I do see a clear daily wave down (retrace) in the making. How long can it go without invalidating the daily uptrend: 1.345x thats what I agree with your level but from there to highlight a change of trend is a little bit premature in my opinion.

In any case, well done calling the last short and we'll see

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #375,274
  • Jan 28, 2011 9:57am Jan 28, 2011 9:57am
Quoting vosterfxandy
the thing is, some people actually trade the news successfully.
Yea. Im good on NFP trading most of the time.
  • #375,275
  • Jan 28, 2011 9:57am Jan 28, 2011 9:57am
Quoting SerpentDove
Price is reacting to levels as it always has. I have, along with many others here, been touting 3740-3760 zone all week long.
  • #375,276
  • Jan 28, 2011 9:57am Jan 28, 2011 9:57am
Quoting Lio46
is it possible that this reversal of the trend is influenced largely by the downgrade of Japan? as well as today news....
The bulls ran out of money and whomever is defending the 61.8 didn't. You can be sure there will be a solid "fundamental" reason for this move that will coincidentally correspond to the options barrier.
  • #375,277
  • Jan 28, 2011 9:57am Jan 28, 2011 9:57am
Quoting attila
don't use stops? wow. get ready to be chased out of town. i've been hiding that for a while myself.
he does use stops, based on PA.

totally different from not using stops at all and keep adding to your position.
Enter Signature
  • #375,278
  • Jan 28, 2011 9:58am Jan 28, 2011 9:58am
time to buy gold for 1350,1400,1415 and then booooooooom to the sky
Hero calls followed by margin calls...
  • #375,279
  • Jan 28, 2011 9:59am Jan 28, 2011 9:59am
Quoting T@rantula
Yea. Im good on NFP trading most of the time.
you're one of the lucky few who can.
Enter Signature
  • #375,280
  • Jan 28, 2011 10:00am Jan 28, 2011 10:00am
Quoting paulg
Just a quick clarification, cloggie: what do you mean for 'fundies' in this fx context and how you measure them? Order flow on EURUSD vs. certain yield levels (US 2Y vs Schatz spread as with FI) or what?..

I look at fundies as an indicator of risk assesment. I break down a currency pair into 4 seperate pars and assess the risk up/down to each half and then make a judgement as to the resultant overall risk of the pair. EURUSD is a great pair to judge this way as of late as we are in a race between two ugly sisters, I judge which on is the ugliest of the day based on the week's overall risk sentiment. I then use the day's fundie triggers, the scheduled news items to see whether that risk is confirmed or not and trade the resultant technical PA accordingly. Today was again a good case in point, I kept harping on about the risk being of, the big boys are risk averse and the technicals supported that pretty quickly paving the way for one of those rare events when the techs and fundies pull in the same direction, that always gives you nice moves with little retraces and bounces. I just enjoyed today on the thread as the majority here were following the herd mentality and were looking for technical triggers to buy, instead of following the risk appetite, ignore the FF members and start selling it.

Ah well, typical day of news trading here really.
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