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EURUSD

  • #425,221
  • Apr 20, 2011 7:27am Apr 20, 2011 7:27am
Quoting harora
quick 1 minute scalp

in @4508 out at 4528
here;s the chart
Attached Image
  • #425,222
  • Apr 20, 2011 7:28am Apr 20, 2011 7:28am
Quoting cloggie
Am doing the same thing with London closed for so many days coming up trading will be mostly cr@p anyways.
London closed tommorrow as well?
  • #425,223
  • Apr 20, 2011 7:29am Apr 20, 2011 7:29am
Quoting talentfx
out +8 pip count-491 1.4518 1.4526 long
Nice one. Wait, didn't you mention you only play the long term/daily chart? Why m5 now buddy?
Make it rain baby
  • #425,224
  • Apr 20, 2011 7:29am Apr 20, 2011 7:29am
Quoting SirMcPip
London closed tommorrow as well?

Open tomorrow.
  • #425,225
  • Apr 20, 2011 7:30am Apr 20, 2011 7:30am
Quoting talentfx
long1.45182

there hast to be a better place to get in this run.
  • #425,226
  • Apr 20, 2011 7:32am Apr 20, 2011 7:32am
Quoting ForexTreeGuy
there hast to be a better place to get in this run.
in at 4527
  • #425,227
  • Edited 8:10am Apr 20, 2011 7:34am | Edited 8:10am
Quoting swing 123
currently at critical resistance at 1.4485. Final push i.e. 5th wave in progress- reversal soon after further euro rate increase ( check eco calender).-imo
Friend, I think the silver-wave3 of the red-wave5 is not correct.

The wave3 should be the longest one.
  • #425,228
  • Apr 20, 2011 7:35am Apr 20, 2011 7:35am
Quoting Venice
Taking losses is part of this business... it's not a hard concept. The sooner you start doing it the sooner you can begin making money.
I learned that the hard way in my very first months of trading. 15 winners in a row then 1 trade wipes them all out and then some. But those days are long gone.

I'm telling you though my problem is just the opposite and I can not seem to correct it and if I do not correct this problem....then what is the use?

Letting winners run.

I get out of trades to early. Make a little profit here, a little there; only to see the sucker go another 100 Pips or so in my original direction.

Very frustrating.

As far as this Pair goes I am done for the week. My Shorts did not work out but my losses are manageable. Besides it's a short week anyway with Easter coming up.

I still think this pair is extremely overbought.
  • #425,229
  • Apr 20, 2011 7:38am Apr 20, 2011 7:38am
would the US existing home sales do any good to the USD when it is positive? I doubt that
  • #425,230
  • Apr 20, 2011 7:40am Apr 20, 2011 7:40am
All you need is a moving average

let them run over the moving average and see your account grow....
what value you need for MA?? depends upon what time frame you trade...



Quoting Astroman
I learned that the hard way in mynvery first months of trading. 15 winners in a row then 1 trade wipes them all out and then some. But those days are long gone.

I'm telling you though my problem is just the opposite and I can not seem to correct it and if I do not correct this problem....then what is the use?

Letting winners run.

I get out of trades to early. Make a little profit here, a little there; only to see the sucker go another 100 Pips or so in my original direction.

Very frustrating.

As far as this Pair goes I am...
  • #425,231
  • Apr 20, 2011 7:40am Apr 20, 2011 7:40am
old and new levels a break of WH5 will take us to 4597 WH6

above 4520 bullshitttt
Attached Image (click to enlarge)
Click to Enlarge Name: 4h eur.gif Size: 20 KB
  • #425,232
  • Apr 20, 2011 7:42am Apr 20, 2011 7:42am
Quoting Astroman

Letting winners run.
In my view the most difficult part of this business. Taking losses is simple in my view, mechanical in fact. Taking profits is an art. Scaling out is the easiest way to adress this in my view.
Look Sharp/Trade Tight
  • #425,233
  • Apr 20, 2011 7:42am Apr 20, 2011 7:42am
Quoting Astroman
Letting winners run.

I get out of trades to early. Make a little profit here, a little there; only to see the sucker go another 100 Pips or so in my original direction.

Very frustrating.
The solution to that is to close only a portion of the trade, maybe half or even 80% and let the rest run with a stoploss of BE + 1 pip (for your effort)
  • #425,234
  • Apr 20, 2011 7:42am Apr 20, 2011 7:42am
Quoting harora
in at 4527
out at even
  • #425,235
  • Apr 20, 2011 7:46am Apr 20, 2011 7:46am
Quoting Astroman
I learned that the hard way in my very first months of trading. 15 winners in a row then 1 trade wipes them all out and then some. But those days are long gone.
Good to hear man, good to hear.
  • #425,236
  • Apr 20, 2011 7:49am Apr 20, 2011 7:49am
I believe it is the Euro moment.. or even week!! we can't do anything about it but to watch it most of the time.

the levels now don't seem to move backwards at allll because the resistance seem to be very weak even after more than 250 bull without replacement!!

I believe we will hit 1.46 today soon especially if the US news turn bad later

lucky I got rid of my shorts yesterday night
  • #425,237
  • Apr 20, 2011 7:51am Apr 20, 2011 7:51am
Quoting PayTheLimit
In my view the most difficult part of this business. Taking losses is simple in my view, mechanical in fact. Taking profits is an art. Scaling out is the easiest way to adress this in my view.
I agree. And over the long run, its those small greedy lots that somehow managed to survive a few hundred pip run that actually rakes in the most profits
  • #425,238
  • Apr 20, 2011 7:52am Apr 20, 2011 7:52am
Smells like flying soon
Make it rain baby
  • #425,239
  • Apr 20, 2011 7:52am Apr 20, 2011 7:52am
long again.
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_EUR_USD_5 Mins_snapshot.png Size: 10 KB
  • #425,240
  • Apr 20, 2011 7:52am Apr 20, 2011 7:52am
Quoting funnyboy
Friends, I think the silver-wave3 of the red-wave5 is not correct.

The wave3 should be the longest one.
it doesnt have to be as when 3rd is not as big we have extended 5ths
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