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  • #421,781
  • Apr 14, 2011 1:30pm Apr 14, 2011 1:30pm
Quoting pipnapper
I'm short with a bad entry. Revenge trade...over leveraged, no stop.
This was my worst trading day since Jan.
This is what I hate about trading, one bad day and you ruin a couple days of hard work.

I wonder if I should get out now. I could place a stop above 4530, but I don't want to risk another 40 pips. Lost 10% of my account so far.

Any idea how to make the best out of it?
I suggest to wait if you are unsure or use the smallest lot size so you can lose minimal (0.5% of your account). You need to know when you don't want to hold the trade. Now support holds but there is a chance of reversing because we are under an earlier trendline (where the swing highs are formed). But unfortunately the US Dollar is getting stronger.
  • #421,782
  • Apr 14, 2011 1:39pm Apr 14, 2011 1:39pm
This chart shows one week FLASH BACK with 15 min Volume Candles ...

Data feed taken from major Interbank connections ...

I like the grafical view ... and it shows some points of time ... where there is more ... and where there is less action being required ...



;-|
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-04-14_20h09_ EURUSD _ min015 _ (1Wk) volume + TL + TC + PP.PNG Size: 23 KB
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #421,783
  • Apr 14, 2011 1:51pm Apr 14, 2011 1:51pm
http://finance.yahoo.com/news/Euro-z...&asset=&ccode=

May is nearing for a 1 yr on Greece. Will history repeat on EU?
  • #421,784
  • Apr 14, 2011 1:52pm Apr 14, 2011 1:52pm
Attached 2 weekly charts...EU headed up to at least 1.4800 over the next 2-3 weeks. This thing needs to go up at all costs, time is up for the EUSSR and its comrades.

http://blogs.wsj.com/source/2011/04/...bailout-plans/

No, no, no, its no conspiracy theory...its boiling everywhere...Austria likely headed for referendum, Ireland and the South of the EUSSR for social chaos...Hungary to follow soon...but obviously its not bad enough YET....amazing how far this thing can go if the guys and gals can still have their minds on flat screen Tvs, exotic vacations instead of their country. You deserve what you ask for, i guess.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurweeklyma.gif Size: 25 KB
Click to Enlarge Name: euweeklysd.gif Size: 31 KB
  • #421,785
  • Apr 14, 2011 2:03pm Apr 14, 2011 2:03pm
Quoting SirMcPip
Attached 2 weekly charts...EU headed up to at least 1.4800 over the next 2-3 weeks. This thing needs to go up at all costs, time is up for the EUSSR and its comrades.

http://blogs.wsj.com/source/2011/04/...bailout-plans/

No, no, no, its no conspiracy theory...its boiling everywhere...Austria likely headed for referendum, Ireland and the South of the EUSSR for social chaos...Hungary to follow soon...but obviously its not bad enough YET....amazing how far this thing can go if the guys and gals can still have their...
Grüezi mon ami ... I just forgot you on my list ... now I saw your beautiful avatar ...

And so I did handover it afterwards ...


;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #421,786
  • Apr 14, 2011 2:03pm Apr 14, 2011 2:03pm
plosser could have pushed this off a cliff if he wanted...
  • #421,787
  • Apr 14, 2011 2:15pm Apr 14, 2011 2:15pm
Quoting fldash
plosser could have pushed this off a cliff if he wanted...

He pretty much gave the same speech he did last time, not much reaction therefor. Markets only react when there is something new. Look at BOE or FOMC minutes, the devil is in the detail. If one word is changed then there will be a reaction. It takes some time to read them correctly and trade accordingly, for most it is just reacting to what the market reacts to.

On a trading note, still nothing much to trade here after NY lunch. Am done for the day, I had a good one.


Take care y'all.
  • #421,788
  • Apr 14, 2011 2:17pm Apr 14, 2011 2:17pm
Quoting pipnapper
I'm short with a bad entry. Revenge trade...over leveraged, no stop.
This was my worst trading day since Jan.
This is what I hate about trading, one bad day and you ruin a couple days of hard work.

I wonder if I should get out now. I could place a stop above 4530, but I don't want to risk another 40 pips. Lost 10% of my account so far.

Any idea how to make the best out of it?

I hear McD is hiring, that may suit you better. You should have paid attention to the thread a bit more today, there were some good setups and levels identified here, and not just by me. Today was a rarity here.



The !d!ots will come out of the woodwork again and ruin it for most here shortly.



I will give you one pointer though, never ever risk more then 1% on your trades and when you are down 2-3% for the day, go and walk the dog or download some stuff your mum shouldn't know about, but stop trading for the day. You need to set yourself daily, weekly and monthly max loss levels at which point you stop for that calendar time and go back to paper trading. Capital preservation is the only thing that keeps you in this business.
  • #421,789
  • Apr 14, 2011 2:17pm Apr 14, 2011 2:17pm
Quoting SirMcPip
Attached 2 weekly charts...EU headed up to at least 1.4800 over the next 2-3 weeks. This thing needs to go up at all costs, time is up for the EUSSR and its comrades.

http://blogs.wsj.com/source/2011/04/...bailout-plans/

No, no, no, its no conspiracy theory...its boiling everywhere...Austria likely headed for referendum, Ireland and the South of the EUSSR for social chaos...Hungary to follow soon...but obviously its not bad enough YET....amazing how far this thing can go if the guys and gals can still have...
This thing will go up - trust me - but first it will touch 1.4 and will start to climb around 5th of may.
  • #421,790
  • Apr 14, 2011 2:21pm Apr 14, 2011 2:21pm
My chart, indicators and trading plan are showing that a possible break trough 4520 could come in the next couple of hours, so I think I'm gonna bet it with a small amount and a tight stop loss
  • #421,791
  • Apr 14, 2011 2:21pm Apr 14, 2011 2:21pm
Quoting cloggie
He pretty much gave the same speech he did last time, not much reaction therefor. Markets only react when there is something new. Look at BOE or FOMC minutes, the devil is in the detail. If one word is changed then there will be a reaction. It takes some time to read them correctly and trade accordingly, for most it is just reacting to what the market reacts to.

On a trading note, still nothing much to trade here after NY lunch. Am done for the day, I had a good one.


Take care y'all.
The sheep trade the news and the mass follow?

Unfortunately I had a bad day, I just watched the trends and I lost more than I earned.
  • #421,792
  • Apr 14, 2011 2:23pm Apr 14, 2011 2:23pm
Quoting w1nner
The sheep trade the news and the mass follow?

Unfortunately I had a bad day, I just watched the trends and I lost more than I earned.

IT takes a very well informed trader to trade the news, I have only come across one other here on this thread in the last 2 years I have been here. News and fundy trading is not for the noobs. Unless you got 5 profitable years in this business don't even try.
  • #421,793
  • Apr 14, 2011 2:24pm Apr 14, 2011 2:24pm
My thought process:

Price has been testing 4500 level for a few days now and has yet to hold above. Its bounced and dropped REALLY low after each attempt of breaching 4500. Each time price fails at 4500 it gets heavier and heavier and therefore harder to hold at 4500 level. With the Dollar index and oil prices and COT, support and resistance, MACD, Fibs, Pivot points price seems to me that it will drop down substantially. I have a sell order in at 4500. Stop loss at 4530, take profit at 4430.

That is all.
  • #421,794
  • Apr 14, 2011 2:25pm Apr 14, 2011 2:25pm
this is probably the consolidation needed to push this to 4580.. just a warning...
  • #421,795
  • Apr 14, 2011 2:25pm Apr 14, 2011 2:25pm
my take on this pair is that its consolidating not toping.

the US job less data claims increased, energy and food as well as commodities continue to climb. thats my opinion

however i exited all positions and im treating this pair for what it is its ranging and that is all is doing NOW.

so buy below 1.44
sell close to 1.45 till it shows its cards
AVT INVENIAM VIAM AVT FACIAM
  • #421,796
  • Apr 14, 2011 2:36pm Apr 14, 2011 2:36pm
Be careful all remember what was the situation last Friday
  • #421,797
  • Apr 14, 2011 2:41pm Apr 14, 2011 2:41pm
http://www.finanznachrichten.de/nach...sident-020.htm


Another blow to the financial oligarchy of the so called West...this is very good news. Of course, the guy causing those fake Gorbasms in the 80s today said exactly the opposite.

And here is a masterpiece of the so called West´s propaganda lies

http://www.businessweek.com/news/201...iser-says.html

Does that make any sense???...probably not!
  • #421,798
  • Apr 14, 2011 2:48pm Apr 14, 2011 2:48pm
No use in forecasting ANYTHING on this pair past april 27th FOMC press conference.
Twitter: @TrendersGame
  • #421,799
  • Apr 14, 2011 2:52pm Apr 14, 2011 2:52pm
Quoting cloggie
IT takes a very well informed trader to trade the news, I have only come across one other here on this thread in the last 2 years I have been here. News and fundy trading is not for the noobs. Unless you got 5 profitable years in this business don't even try.
Sometimes I have a feeling (not technical) what will happen on the news releasement then I am 99% right. My idea is to set a trigger and a thigt stop but I did not try it so far. It is much better to trade after the news release or stay away during that.
  • #421,800
  • Apr 14, 2011 2:54pm Apr 14, 2011 2:54pm
What do you expect from the G20 tomorrow? It is marked as a medium impact.
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