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  • #388,661
  • Feb 16, 2011 11:55am Feb 16, 2011 11:55am
Quoting Italianguy
Help help help any suggestion ??? I'm short @3520 help ! All is rising...usd is going low low loooow....wtf i'm upset
Sorry to hear that ... but we were long ... many times ...

Und wir haben seit Tagen auch keinen Hehl daraus gemacht ...

On the other hand 1.352 is not so far away ... so just wait or cut your loss ... it is up to you what you like to prefer ... nobody can help ypu ... only you ...


http://www.forexfactory.com/images/attach/png.gif 2011-02-16_20h47_EURUSD _ min180 _ (075) candle + PP + TX.PNG (30.8 KB)

Hammer and pSAR ... tell us ... upside preferred ...

It is up to you to whom you listen ... or better not ...



;-|
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-02-16_20h47_EURUSD _ min180 _ (075) candle + PP + TX.PNG Size: 31 KB
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #388,662
  • Feb 16, 2011 11:55am Feb 16, 2011 11:55am
Quoting Italianguy
Help help help any suggestion ??? I'm short @3520 help ! All is rising...usd is going low low loooow....wtf i'm upset
If you have luck you can cover in the next hour or so @3549, with little luck @ 3530 and with much luck @ 3519

Maybe SL just above 3590
  • #388,663
  • Feb 16, 2011 11:58am Feb 16, 2011 11:58am
Quoting prezd
we're not going more than 3585, today at least.
it's an important level and it needs momentum to break......
On what basis do you say that?

We are one little spike away from hitting 1.36xx

BTW I am not long or short atm so I am not cheerleading for either direction.
  • #388,664
  • Feb 16, 2011 11:58am Feb 16, 2011 11:58am
Quoting Gleneagles
To truly reap the full benefit of compounding , you need to be consistent.
It is not a function of brilliance.

Given a choice , I will rather be consistently average than occasionally brilliant.

You have the right idea wrt ..controlled..steady....growth.
Compounding is plain scary if witnessed on your own investment rather than viewed on an Excell spreadsheet.
It also allows you to get comfortable with the sums involved, one of my problems before was making too much too quickly, then over-trading and giving it all back... Hey, it's all part of the learning process and the trading journey I guess, have tapped out a few times as well, and that teaches you a lot...
  • #388,665
  • Feb 16, 2011 12:00pm Feb 16, 2011 12:00pm
Quoting Gleneagles
Given a choice , I will rather be consistently average than occasionally brilliant.
These are golden words, something not found too often on the forum and should certainly be part of the trader's mantra. Thanks for sharing!
  • #388,666
  • Feb 16, 2011 12:01pm Feb 16, 2011 12:01pm
Quoting FibbinArchie
It also allows you to get comfortable with the sums involved, one of my problems before was making too much too quickly, then over-trading and giving it all back... Hey, it's all part of the learning process and the trading journey I guess, have tapped out a few times as well, and that teaches you a lot...
You are right, finding your " comfort zone" sometimes means finding your "discomfort zone " first.
" Never let the past hold the future to ransom "
  • #388,667
  • Edited 12:12pm Feb 16, 2011 12:02pm | Edited 12:12pm
Quoting Italianguy
Help help help any suggestion ??? I'm short @3520 help ! All is rising...usd is going low low loooow....wtf i'm upset
I maybe wrong but I think this move is a fake! Don't trust it myself so your short maybe fine.

http://screencast.com/t/rcfIxs2n1

the chances of this going to new highs with 3 weekly candles is quite slim. Although nothing is impossible.
Thing is the highest candle is 13859. so you need deep pockets or good money management to hold a short here
for lows in the next few week.
rat
  • #388,668
  • Feb 16, 2011 12:05pm Feb 16, 2011 12:05pm
Quoting SunTrader
On what basis do you say that?

We are one little spike away from hitting 1.36xx

BTW I am not long or short atm so I am not cheerleading for either direction.


Out of my sight we need momentum to break that level, since we see here some fib confluences and distribution zone. Momentum on lower TF's is a little bit fading.

Maybe it reloads in short time but we are entering now slow motion time/ low volume time :-)
  • #388,669
  • Feb 16, 2011 12:06pm Feb 16, 2011 12:06pm
Quoting Gleneagles
You are right, finding your " comfort zone" sometimes means finding your "discomfort zone " first.
lol, certainly done that, but still love the markets and trading, I want it that badly that I'll find a way, am finding a way...
  • #388,670
  • Feb 16, 2011 12:08pm Feb 16, 2011 12:08pm
euro will be bullish as it break 1.3570 strong resistance line
  • #388,671
  • Feb 16, 2011 12:09pm Feb 16, 2011 12:09pm
Possible pa , bull in a bull , down only failure at top to reorganize at more down & try again.
fontu
Attached Image (click to enlarge)
Click to Enlarge Name: eu1.gif Size: 12 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #388,672
  • Feb 16, 2011 12:11pm Feb 16, 2011 12:11pm
IMO
Attached Image (click to enlarge)
Click to Enlarge Name: euro daily.gif Size: 39 KB
  • #388,673
  • Feb 16, 2011 12:11pm Feb 16, 2011 12:11pm
Quoting SunTrader
On what basis do you say that?

We are one little spike away from hitting 1.36xx
look at that 20 pip doji candle on the first poke.
Second attempt was -13p + 40 retrace
third and 4th were -4, dojis + 20 p retrace

3583 is also upper TL
and level goes way back on my charts.
last time we saw that was about a week ago.
  • #388,674
  • Feb 16, 2011 12:14pm Feb 16, 2011 12:14pm
Quoting Gleneagles
Given a choice , I will rather be consistently average than occasionally brilliant.
And it can be made far easier to hold on to the middle hundred ticks of 300 ticks of position moves a week than it is to average 20 ticks a day scalping them in.
  • #388,675
  • Feb 16, 2011 12:14pm Feb 16, 2011 12:14pm
Quoting Italianguy
Help help help any suggestion ??? I'm short @3520 help ! All is rising...usd is going low low loooow....wtf i'm upset
look on EU Daily and cut your losses ASAP

http://images45.fotosik.pl/637/d1dd3d1f1487aae6.png
I'm using Google Translator.
  • #388,676
  • Feb 16, 2011 12:16pm Feb 16, 2011 12:16pm
Quoting Italianguy
Help help help any suggestion ??? I'm short @3520 help ! All is rising...usd is going low low loooow....wtf i'm upset

Do you see the candle pattern in this H4 chart ?

What do you call this pattern ... the candle with that rejection from above 1.3463 area ???


Moreover I do recommend to read this ...



Quoting mercy seat
http://www.forexfactory.com/images/attach/pdf.gif 2011-02-16_08h41_European Forex Technicals - EURUSD Corrects Higher.pdf (8.9 KB)





European Forex Technicals: EUR/USD Corrects Higher
16 Feb 2011, 08:41

By Francis Bray
A DOW JONES NEWSWIRES COLUMN


Intraday EUR/USD: the recovery off Monday's low at 1.3428 has scope for the 1.3605/25 area, but is corrective in nature. The push through 1.3551 extends...

And don't forget ... "TIMING" is one of the most important issues ...

According to my observation ... timing is really bad in this place ... that's why I don't care that much here anymore ...

That's why ...



;-|
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-02-16_21h11_EURUSD _ min240 _ (050) candle + PP + TL.PNG Size: 20 KB
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #388,677
  • Feb 16, 2011 12:17pm Feb 16, 2011 12:17pm
Originally Posted by Italianguy http://www.forexfactory.com/images/buttons/viewpost.gif
Help help help any suggestion ??? I'm short @3520 help ! All is rising...usd is going low low loooow....wtf i'm upset


Never over leverage your accounts ....
If it goes against you, you will suffer badly....
If you're not sure ... just do mini lot .... wait until it hit you
like - 50 PIPS.. then counter with big lot for retrace and close out the position...
if you are right you win little...

Never counter the trend when it move up so fast .....
just wait until it stop ... then you add counter positions
  • #388,678
  • Feb 16, 2011 12:17pm Feb 16, 2011 12:17pm
Quoting prezd
...... last time we saw that was about a week ago.
How about 3 trading days ago - Friday. And this afternoon's trading is above the highs from yesterday and Monday. It won't take much.

And although you are not the only one advising italianguy it would be better if he didn't ask others their thoughts while he is in a loser. Before entry maybe but once in they should figure it out themselves. It's their money on the line afterall.
  • #388,679
  • Feb 16, 2011 12:19pm Feb 16, 2011 12:19pm
Quoting OldQuant
And it can be made far easier to hold on to the middle hundred ticks of 300 ticks of position moves a week than it is to average 20 ticks a day scalping them in.
now you're in the realm of actual trading style and I'd say many more factors come in, ability to read short term pa, attention span, personality etc.

and to be fair if you'd gone long at the start of the week, you'd be roughly + 40 now.

Just playing devil's advocate , 'cause I like scalping...
  • #388,680
  • Feb 16, 2011 12:22pm Feb 16, 2011 12:22pm
re. italianguy, he's only about 30 to 40 pips underwater, unless he's betting the ranch, it shouldn't be that big a deal... if he is then he should quit live trading immediately and go directly to demo, without passing go, until he learns some money management...
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