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  • #439,561
  • May 11, 2011 2:36am May 11, 2011 2:36am
Quoting glennl2000
Yes too late. Hopefully I can get out at BE or maybe 1 pip profit! I shorted 10 lots at 1.4350.. I was actually scalping, lost my connection and when I had it restored I was down 15 pips, so I figured I'd try to last it out.. Have to say, trading live is quite difficult. Emotions are very hard to control, and having patience..
Welcome to the game, big guy
  • #439,562
  • May 11, 2011 2:42am May 11, 2011 2:42am
At least read the first page of posts.

http://www.forexfactory.com/showthread.php?t=246111

Cheers

Quoting glennl2000
Guys,
I'm pretty new to FX trading. I've been trading live for only a few months, but spent over a year working on strats and models. I've been profitable so far, though small profit, but am in a large position right now and taking about about a 6% unrealized loss (shorted at 4350). I still think I'll see that level and lower, but was wondering if what the thoughts of the experiences guy are on here in terms of getting out or adding to the position, etc.. I know the risk is high on this one and I'm probably playing with fire..

thanks!
  • #439,563
  • May 11, 2011 2:43am May 11, 2011 2:43am
Quoting glennl2000
Yes too late. Hopefully I can get out at BE or maybe 1 pip profit! I shorted 10 lots at 1.4350.. I was actually scalping, lost my connection and when I had it restored I was down 15 pips, so I figured I'd try to last it out.. Have to say, trading live is quite difficult. Emotions are very hard to control, and having patience..
Two options:
1-Take a hit now, and don't trade for the next 3-4 days. Go demo trading , reevaluate your strategies!! Start fresh.

2- grab a few anti acids and hang in there for the ride to your break even point...

either way, it ain't easy!
Good luck and don't follow my advices, You might be better off that way!!!
  • #439,564
  • May 11, 2011 2:48am May 11, 2011 2:48am
long@ 4374...seems we continue have strong support at this level.....
ok..maybe its time to break 4420 resistance....
1st target 4440...
Patience, Emotion Control and Discipline.
  • #439,565
  • May 11, 2011 2:50am May 11, 2011 2:50am
Initial range
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 May. 11 09.47.jpg Size: 88 KB
" Never let the past hold the future to ransom "
  • #439,566
  • May 11, 2011 2:54am May 11, 2011 2:54am
Quoting gatorinla
yeah.. time for some fishing. http://www.youtube.com/watch?v=ZHSYl5rN2q4
lol. just watched the whole thing.

yesterday's 4371 got in the way
  • #439,567
  • May 11, 2011 2:54am May 11, 2011 2:54am
Quoting fxkiller
my 3 trades for now.. Sl each 15 pips.
Not worth to risk more in range moves.. If this will gonna have breakout for downside, then i will change my targets.
closed all... on BE Crap moves !!!
  • #439,568
  • May 11, 2011 2:57am May 11, 2011 2:57am
Yeah. I'm going to ride it out and hopefully not find myself in this position again. Thanks for the advice Gunter! I'll take your advice over my own ideas at this point!! Hope you make a bunch of pips, and everyone else here!!

Quoting Gunter
Two options:
1-Take a hit now, and don't trade for the next 3-4 days. Go demo trading , reevaluate your strategies!! Start fresh.

2- grab a few anti acids and hang in there for the ride to your break even point...

either way, it ain't easy!
Good luck and don't follow my advices, You might be better off that way!!!
  • #439,569
  • May 11, 2011 2:58am May 11, 2011 2:58am
Quoting gatorinla
eu next in sequence looks like it still has power. the current high this week is the lower mofu for 1.4009.6.. (same chart as last week) rejected atm.. oil and gold r still in the gravity zone for their mofu. 4409 should act as some resistance. as well as 4367 as some as a little support.

close below 4389 and we will probably test 67 again. a close below both should be a little b/o .. and it should set up 4332.
those who can, do. those who cant, talk about those who can
  • #439,570
  • May 11, 2011 3:01am May 11, 2011 3:01am
Quoting gatorinla
[/color]
close below 4389 and we will probably test 67 again. a close below both should be a little b/o .. and it should set up 4332.
it did close below 4389.......hmmmmm interesting...
Patience, Emotion Control and Discipline.
  • #439,571
  • May 11, 2011 3:01am May 11, 2011 3:01am
Hello guys, those are the levels for today. Im still flat on EU for intraday, with slightly bearish bias.

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  • #439,572
  • May 11, 2011 3:02am May 11, 2011 3:02am
Another long right now...still for 1,4500
I might cover all longs depending on the next hour...
COT: The precious data ignored
  • #439,573
  • May 11, 2011 3:02am May 11, 2011 3:02am
Quoting fontu
Though not any long yet , possible pa now , keep short if breaks 4382/76 now for big wave 3 of 5th down. Done and done for me too , keeping short for the low & new lows possible .
fontu
What's your preferred entry signal ... e.g. if 5m/15m/1h candle closes above / /below 382/76 etc. ? PA looks like its down-biased but could be deceiving ?
  • #439,574
  • Edited 3:04am May 11, 2011 3:03am | Edited 3:04am
Quoting Gleneagles
Initial range
Exactly my numbers: 4402, 4382, 4362. But I have DP at 4365, only small difference.

Thanks for the Price Patterns last night, much appreciated.
  • #439,575
  • May 11, 2011 3:03am May 11, 2011 3:03am
Quoting gatorinla
[/color]
close below 4389 and we will probably test 67 again. a close below both should be a little b/o .. and it should set up 4332.
we closed below 4389.. beyond 4332 is 4314 4297.. 4287.5 4254.7
those who can, do. those who cant, talk about those who can
  • #439,576
  • May 11, 2011 3:06am May 11, 2011 3:06am
A big part of trading is learning to let go and cut your losses. I bet when you were doing your modelling for a year you probably didnt use real money. That is why I am not a fan of testing with a demo account. It is much easier for one to cut their loss with a demo account than a live one. I think its bets to use a mini or micro account to test to get a good feel and put a check on emotions.

Quoting glennl2000
Yes too late. Hopefully I can get out at BE or maybe 1 pip profit! I shorted 10 lots at 1.4350.. I was actually scalping, lost my connection and when I had it restored I was down 15 pips, so I figured I'd try to last it out.. Have to say, trading live is quite difficult. Emotions are very hard to control, and having patience..
  • #439,577
  • May 11, 2011 3:07am May 11, 2011 3:07am
I think this pair is seriously waiting for thursdays fundaments and Bernakes speech.. until then i see no big moves at all :-/
Pation is the Holy Grail
  • #439,578
  • May 11, 2011 3:10am May 11, 2011 3:10am
Quoting CzechTrade
I think this pair is seriously waiting for thursdays fundaments and Bernakes speech.. until then i see no big moves at all :-/
YAP !!!
  • #439,579
  • May 11, 2011 3:14am May 11, 2011 3:14am
nap time
those who can, do. those who cant, talk about those who can
  • #439,580
  • May 11, 2011 3:16am May 11, 2011 3:16am
Yes you are right.. It's very hard to take a loss and then nerve racking to let it go and hope it comes back.. I might get lucky here or might end up taking a bigger loss than I planned for.. Still not sure I have the temperment to trade fx at all.

Quoting smarttrender
A big part of trading is learning to let go and cut your losses. I bet when you were doing your modelling for a year you probably didnt use real money. That is why I am not a fan of testing with a demo account. It is much easier for one to cut their loss with a demo account than a live one. I think its bets to use a mini or micro account to test to get a good feel and put a check on emotions.
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