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  • #388,681
  • Feb 16, 2011 2:23pm Feb 16, 2011 2:23pm
Quoting FibbinArchie
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...

I'm like - 52 PIPS in the water ... short @ 1.3511 ....
but guess what ... only mini lots
I have short position avg 1.3565 now ....
kinda heavy ...
  • #388,682
  • Feb 16, 2011 2:25pm Feb 16, 2011 2:25pm
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.
Agree, the problem is that a large portion of traders trade not to lose rather than trade to win. Holding onto a winning trade/runner for them is slap bang in the centre of their discomfort zone.

Edit: Just adding that in the end it is about the destination , not the the journey.
" Never let the past hold the future to ransom "
  • #388,683
  • Feb 16, 2011 2:25pm Feb 16, 2011 2:25pm
still in the range did not know what the feds said , iran did more than the dam feds , back to the box walking the dog
  • #388,684
  • Feb 16, 2011 2:27pm Feb 16, 2011 2:27pm
Hi.
What do you think about the direction on the eur / usd? Is the resistance at 1.3575 level, trading stops and bring a pair of support around 1.3471? Maybe we observe the formation of three waves of growth?

http://C:UsersBartekDesktop eur usd H1
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd H1.jpg Size: 207 KB
  • #388,685
  • Edited 2:30pm Feb 16, 2011 2:27pm | Edited 2:30pm
Quoting FibbinArchie
to be fair if you'd gone long at the start of the week, you'd be roughly + 40 now.
No, I don't mean anything like "buy and hold" like that. At any leverage, that's a fool's money management, and only a fool has that kind of quasi-religious belief in their being right.

What I mean by "position" is two-pronged.

(a) being in the move quickly when the PA and/or indicators you use even suggests the direction. If they quickly 'un-suggest' that direction: out. small loss.

(b) once the move is afoot, the other side of 'position' is no TP. Go until there is reason to believe the move is in pause.

The first is costly; e.g., yesterday, you could easily have sustained more than 5 failed trades in a row, for total cost above 50 pips. The first 50 in a move, then, just pays that back. The last part of the move is "left on the table" by determining "in pause" by some metric. That leaves the middle.

Look at today's PA. Remove all indicators and lines; just the candles. Can you see what I'm meaning here?
  • #388,686
  • Feb 16, 2011 2:28pm Feb 16, 2011 2:28pm
Quoting aarontdang
I'm like - 52 PIPS in the water ... short @ 1.3511 ....
but guess what ... only mini lots
I have short position avg 1.3565 now ....
kinda heavy ...
gl with the position, and like you say, the key thing is is to not over-leverage, this has been discussed many times...
  • #388,687
  • Feb 16, 2011 2:29pm Feb 16, 2011 2:29pm
Quoting FibbinArchie
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 has the farm on it then that is not so good .

Inserted Video
rat
  • #388,688
  • Feb 16, 2011 2:29pm Feb 16, 2011 2:29pm
Quoting FibbinArchie
gl with the position, and like you say, the key thing is is to not over-leverage, this has been discussed many times...

I'm short @3520 ----also gbp/usd total -158 pips.....!!! WTF
  • #388,689
  • Feb 16, 2011 2:29pm Feb 16, 2011 2:29pm
Happening 386570
  • #388,690
  • Feb 16, 2011 2:30pm Feb 16, 2011 2:30pm
chart
Attached Image (click to enlarge)
Click to Enlarge Name: 5m eur.gif Size: 39 KB
  • #388,691
  • Feb 16, 2011 2:31pm Feb 16, 2011 2:31pm
Quoting OldQuant
No, I don't mean anything like "buy and hold" like that....
yes, thanks for clarifying and to be fair one area of my trading that needs a lot of work is staying in trades until their logical conclusion...
  • #388,692
  • Feb 16, 2011 2:32pm Feb 16, 2011 2:32pm
Quoting kill56
still in the range did not know what the feds said , iran did more than the dam feds , back to the box walking the dog
Craaaaaaaaaaazy PA today.
aussie went up 60p in the last hour.
eur/usd played ping-pong all day (eur is winnig this match)

not to mention all other the currencies...
Even gold danced aroud.
  • #388,693
  • Feb 16, 2011 2:32pm Feb 16, 2011 2:32pm
Quoting kill56
still in the range did not know what the feds said , iran did more than the dam feds , back to the box walking the dog
Yes shorting euro is always good, not today. iran gave us a nice gift. all shorts are done...and now who knows when the USD will rise again...this forex is so dangerous
  • #388,694
  • Feb 16, 2011 2:33pm Feb 16, 2011 2:33pm
Quoting FibbinArchie
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...
Exactly ...

30 - 50 pips ... that is absolutely nothing ...

2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #388,695
  • Feb 16, 2011 2:33pm Feb 16, 2011 2:33pm
Quoting rattyo
if he has the farm on it then that is not so good .

http://www.youtube.com/watch?v=HofDB_Z70sE
lol, how many videos on YT feature that clip??
  • #388,696
  • Feb 16, 2011 2:34pm Feb 16, 2011 2:34pm
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 it doesnt break above 1.36 your short might be fine, for the most part even though the USD is weak so is the euro.
we are still below the 5 year average price, below the 1 month average and momentarily touched the weekly average.

if you draw trend line, from last 2 peeks, and look at price action, seems like the EURO should not move above the 1.36
on 2/11/11 the price moved below 1.36 and its fluctuated from mid 1.35-to upper 1.34's, today its moving to retest 1.36.

i'm still bearish but a piece of advice to you. so you dont sweat it.

place 1/2-1/3 of your allocated trading capital first

for example i shorted the euro above 1.36, i will short again when this rally seems to have peaked.

it gives you a buffer scale your entrances. no reason to lose money

cantrair to popular belief you DONT HAVE TO RISK ANY MONEY trading.

the only risk should be YOUR INITIAL ENTRY. after that, scale in, if youre wrong you got breathing room even a 100 pip move against me will result in a 1 dollar loss if im wrong, so far its fluctuated close to that im still up on my initial short, if im wrong, ill cut my positon and short it again later on,

the euro is in a down trend,
AVT INVENIAM VIAM AVT FACIAM
  • #388,697
  • Feb 16, 2011 2:34pm Feb 16, 2011 2:34pm
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
Help? Of to babypips and learn how to put a stop on your trades. You are lucky that 85 is capped of for now, but if Asia is anything to go by, they'll be on a buying spree again and you are looking at a margin call.

Let this be a lesson for you and never ever risk more then 1% and know your risk before you put on a trade.
  • #388,698
  • Feb 16, 2011 2:35pm Feb 16, 2011 2:35pm
hi everyone. i am new here. hope to learn from everyone here and contribute when i can.

cheers.
  • #388,699
  • Feb 16, 2011 2:35pm Feb 16, 2011 2:35pm
Quoting FibbinArchie
lol, how many videos on YT feature that clip??
That clip is one of the best!
rat
  • #388,700
  • Feb 16, 2011 2:41pm Feb 16, 2011 2:41pm
Quoting rattyo
That clip is one of the best!
good movie, so is Valkyrie...
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