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  • #483,781
  • Jul 8, 2011 3:42am Jul 8, 2011 3:42am
Quoting kbmoonshinex
coz we broke 4304 level ;]...
did we ? ...
Hero calls followed by margin calls...
  • #483,782
  • Jul 8, 2011 3:43am Jul 8, 2011 3:43am
Quoting cloggie
Amarfx, gave you the heads up not to short uC yet, hope you had a close look at your chart to figure out why.

She's up 30 pips now since the hint.
  • #483,783
  • Jul 8, 2011 3:45am Jul 8, 2011 3:45am
Quoting PhAnTi'
did we ? ...
only spike needed ...
looking for investors . pm me
  • #483,784
  • Jul 8, 2011 3:46am Jul 8, 2011 3:46am
Quoting Chicky
Very simple. 1% risk 1% reward per trade; one trade at a time; and 10 to 70 pip trades of your choice. All one needs is more than 50 winners in 100 trades.
Good point. However, needs to be convincingly over 50 when you factor in the diminishing effect of losses, spread and possibly negative swap. Diminishing loss effect example: Trade #1 = 1% loss. Trade #2 = 1% profit. Trader is still negative. Not breakeven.
  • #483,785
  • Jul 8, 2011 3:46am Jul 8, 2011 3:46am
Quoting 2+2=4ex
Hehe. Good use of candlestick names.
Well at least people cant accuse me of not talking about trading now ;-)

Meanwhile, have moved SL to BE, locked in a teeny bit, +45 now... but chasing 4174. Hoping for good NFP to drive this baby way down...
  • #483,786
  • Jul 8, 2011 3:49am Jul 8, 2011 3:49am
Quoting 2+2=4ex
Good point. However, needs to be convincingly over 50 when you factor in the diminishing effect of losses, spread and possibly negative swap. Diminishing loss effect example: Trade #1 = 1% loss. Trade #2 = 1% profit. Trader is still negative. Not breakeven.
Picken flys out the pepper
  • #483,787
  • Jul 8, 2011 3:50am Jul 8, 2011 3:50am
Quoting Jazznos
Well at least people cant accuse me of not talking about trading now ;-)

Meanwhile, have moved SL to BE, locked in a teeny bit, +45 now... but chasing 4174. Hoping for good NFP to drive this baby way down...

good number

I have had 4184 as the pivotal area of a larger term weekly chart view on the EU... been playing that area profitably for some time
  • #483,788
  • Jul 8, 2011 3:54am Jul 8, 2011 3:54am
Quoting Chillypiper
Picken flys out thr pepper
You mean picking fly poop out of peppers. Not at all. What I said has a big effect on your bottomline. One of the things people don't realize about trading. It's hard to overcome the aforementioned unless you have experience. Do you think most retail traders lose just because they pick the wrong direction? It's a business set up to favor the broker. So you better be good if you're going to succeed.
  • #483,789
  • Jul 8, 2011 3:55am Jul 8, 2011 3:55am
Quoting 2+2=4ex
Good point. However, needs to be convincingly over 50 when you factor in the diminishing effect of losses, spread and possibly negative swap. Diminishing loss effect example: Trade #1 = 1% loss. Trade #2 = 1% profit. Trader is still negative. Not breakeven.
Yes you are right. This is the whole logic. If you generate more than 50% winners, get increasing returns because you are bound to hit a winning streak and each trades gives more dollar amount than the previous. (On several occassions I did not expereince a single loss or only a couple of losses in weeks). But lose less in a losing streak. Trades of more than 30 pips make spread tolerable. Trades of 10 to 15 pips have very good winning ratio (about 70%). It is easier to get a 10 / 12 pip bounce than a break of 70 / 100 pips. Price comes back 10 to 12 pips but not so frequently after it has went against you by 100 or so pips.
The Thief of Wall Street
  • #483,790
  • Jul 8, 2011 3:56am Jul 8, 2011 3:56am
Quoting Wulfgar
good number

I have had 4184 as the pivotal area of a larger term weekly chart view on the EU... been playing that area profitably for some time
Well my bigger fib target line shows 4139... but with S2 above im playing it a little safe, however the other issue i have is around 4194 where i have an s/r line and also the 19.1 level of a way back big fib which tends to mean support, so that would be even safer...hmmm.... damn that greed
  • #483,791
  • Jul 8, 2011 3:58am Jul 8, 2011 3:58am
The overall trend is still down.. although we might not have much momentum until nfp..so be careful out there
we still need some confirmation on the candle before we can have a trend trade, so its more like scalping for now. i took a short on the 8:15 GMT candle..exit will based on a signal off the scalping chart


btw: i saw something interesting in cloggie's work and that is scalling.. i thought its a good idea..something to try out


happy pipping all
  • #483,792
  • Jul 8, 2011 3:59am Jul 8, 2011 3:59am
Quoting Jazznos
Well at least people cant accuse me of not talking about trading now ;-)

Meanwhile, have moved SL to BE, locked in a teeny bit, +45 now... but chasing 4174. Hoping for good NFP to drive this baby way down...
Just above SL 4319 here DPV... Target @ 42909 and 42452..GL
  • #483,793
  • Jul 8, 2011 4:00am Jul 8, 2011 4:00am
Bus drive down the hill bears get in

SELL 1.4314

Good morning traders!
Once scalper always scalper
  • #483,794
  • Jul 8, 2011 4:01am Jul 8, 2011 4:01am
Quoting Chicky
Yes you are right. This is the whole logic. If you generate more than 50% winners, get increasing returns because you are bound to hit a winning streak and each trades gives more dollar amount than the previous. But lose less in a losing streak. Trades of more than 30 pips make spread tolerable. Trades of 10 to 15 pips have very good winning ratio (about 70%). It is easier to get a 10 / 12 pip bounce than a break of 70 / 100 pips. Price comes back 10 to 12 pips but not so frequently after it has went against you by 100 or so pips.
Well yeah. I didn't mean you would have to win 75% of the trades. Just saying it also isn't 1:1 straight up. Is it worth risking 100 trades to make 10 more winners than losers? (55% wins vs 45% losses). How much are you making (and risking) per trade? What if you lose 55 and win 45? Now you got to figure in the time. Time is opportunity cost. That's why currency trading is a long term investment.
  • #483,795
  • Jul 8, 2011 4:05am Jul 8, 2011 4:05am
Quoting 2+2=4ex
Well yeah. I didn't mean you would have to win 75% of the trades. Just saying it also isn't 1:1 straight up. Is it worth risking 100 trades to make 10 more winners than losers? (55% wins vs 45% losses). How much are you making (and risking) per trade? What if you lose 55 and win 45? Now you got to figure in the time. Time is opportunity cost. That's why currency trading is a long term investment.
The other issue i found when doing this on demo is that whilst you may scale out of a position, youre losers tend to be taken at youre entire position, so they can easily be quite large and wipe out your previous gains. You have to absolutely do everything in your power to maximise your gains and minimise your losses.

Stating the seemingly obvious, yes - but you will keep breaking even if you cant get that done.
  • #483,796
  • Jul 8, 2011 4:06am Jul 8, 2011 4:06am
Long: 1,4230
TP: 1,4460
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  • #483,797
  • Jul 8, 2011 4:06am Jul 8, 2011 4:06am
closed one order 50+
Patience, Emotion Control and Discipline.
  • #483,798
  • Jul 8, 2011 4:06am Jul 8, 2011 4:06am
flat, covered them all, fucking tired of trading this week...I'm burnt..
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Look Sharp/Trade Tight
  • #483,799
  • Jul 8, 2011 4:07am Jul 8, 2011 4:07am
Quoting cloggie
4284 next. Eyes on 4304 here as a trigger for further down, with a top around 34-36, that would bring 4284 in play. Am flat now covered shorts on the earlier bounce, I will let price come to me, not going to chase it.

Another 3 pips to pick up, got the top slightly wrong, still a bit messy PA, but she is behaving fairly well today.
  • #483,800
  • Jul 8, 2011 4:08am Jul 8, 2011 4:08am
if we brake 4283 we go to 4236
looking for investors . pm me
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