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  • #483,821
  • Jul 8, 2011 4:21am Jul 8, 2011 4:21am
remember my short from last night? well, i am 2x 60 (aprox) in the green right now. should i play the mighty king again?

i had a target at 1.4280 (15m) we touched and are coming up some. but my pitchfork show me lower than this (1.4260).

what do u think?

hapipipin

Quoting Mr. Aldi
Quite often I get f@cked with a tight SL. This time the move down was quick, but most often after taking out a tight SL, it gets back 10 pips...

Clearly boatload of bears still accross the boards
dreams do come true.
  • #483,822
  • Jul 8, 2011 4:22am Jul 8, 2011 4:22am
Quoting Chicky
The answer is: a lot, if you are consistent. Risk 1/2% to 3% per trade. This week (three days trading) 4.8%. Maximum consecutive losses in my career 52, maximum consecutive winners 34, average w/l 60/40 (net 20% in hundred trades), number of trades per week: depends on opportunity, not fixed. Max drawdown in 100 trades 45%. Max winning in 100 trades 98%. Time is a very heavy opportunity cost, but for years could not find the alternative. To me, currency trading can never be long term because it is trading not investment like stocks.
Absolutely correct there. Currency TRADING not Investing, leave that to the other mugs who buy stocks
  • #483,823
  • Jul 8, 2011 4:23am Jul 8, 2011 4:23am
Quoting fxjawn
i follow all your levels and i find them on my charts... as well as ptls...

like i was saying way earlier i was short the first time it broke 4338 earlier tonight i just closed my trade bc i let it fake me out but i still did ok...

i know a good bit of what ur talking about most of the time but deff not everything brother...

Don't just find them, find the reason why they are there and what they do. I don't give any direct calls as your risk appetite and strategy will never be the same as mine, I just give hints for you to look at to see if you can find what I am talking about.

Quite a few here had this 80-84 area, which is no surprise really as we are all looking at the same charts, you just need to figure out what this area means and what possible consequence this area could have for your next trade.

Little hint, don't go looking for longs just yet, if you are still in a short, find the upper limit that keeps the price from going up from here and find your next trigger that gives you the confidence to stay in your short. That trigger should then become the area to move your stops to, to protect some of your profits, trading is a continuous if-then-if.

You also need to find the triggers to change your bias here, what needs to happen for you to change from short biased to long biased? Keep in mind that price rarely bounces of a level like a wet cat of an electric fence to immediately change intermediate direction, she will consolidate and range a majority of the time first.

As to further shorts, you need to differentiate between an overshoot and a continuance, price patterns and minor triggers will do that for you.
  • #483,824
  • Jul 8, 2011 4:23am Jul 8, 2011 4:23am
Quoting nitrate73
Hi PTL, are those shaded areas something u draw on your or an indi ? ..what about those lines with the labels 1.4xxx Mofu or Mid .. is that an indi as well ? Thanks in advance.
the shaded areas are by hand, the mofu's mids and other levels are of the fib tool...
Look Sharp/Trade Tight
  • #483,825
  • Jul 8, 2011 4:23am Jul 8, 2011 4:23am
Quoting FX-Ray
Long: 1,4230
TP: 1,4460
TP adjusted to 1,4400
Attached Image (click to enlarge)
Click to Enlarge Name: tp.JPG Size: 154 KB
  • #483,826
  • Jul 8, 2011 4:25am Jul 8, 2011 4:25am
Quoting FX-Ray
see pic
I see, really interesting way to trade . i'll do some research on it . Thanks
You gotta know when to hold 'em, know when to fold 'em ...
  • #483,827
  • Jul 8, 2011 4:26am Jul 8, 2011 4:26am
ok now 4240 ..
looking for investors . pm me
  • #483,828
  • Jul 8, 2011 4:26am Jul 8, 2011 4:26am
enjoy the rest of the move..going to water that yard I was taking about, bbl,gl,PTL...
Look Sharp/Trade Tight
  • #483,829
  • Jul 8, 2011 4:27am Jul 8, 2011 4:27am
lets see...
Attached Image (click to enlarge)
Click to Enlarge Name: 01file08072011.gif Size: 24 KB
  • #483,830
  • Jul 8, 2011 4:32am Jul 8, 2011 4:32am
will do so, master Cloggs

Quoting cloggie

Little hint, don't go looking for longs just yet, if you are still in a short, find the upper limit that keeps the price from going up from here and find your next trigger that gives you the confidence to stay in your short. That trigger should then become the area to move your stops to, to protect some of your profits, trading is a continuous if-then-if.
dreams do come true.
  • #483,831
  • Jul 8, 2011 4:33am Jul 8, 2011 4:33am
Quoting sparkziv
I will add short at 1.4377.
down trend is still available, let see NFP today.
Attached Image (click to enlarge)
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  • #483,832
  • Jul 8, 2011 4:33am Jul 8, 2011 4:33am
ON a side note, has everyone else here noticed too how the thread this week has slowly moved away from indicator based calls and most here are now focusing on S/R areas and trigger levels?????
  • #483,833
  • Jul 8, 2011 4:34am Jul 8, 2011 4:34am
can i sel at this level...or buy ...?????
  • #483,834
  • Jul 8, 2011 4:34am Jul 8, 2011 4:34am
Quoting PayTheLimit
enjoy the rest of the move..going to water that yard I was taking about, bbl,gl,PTL...
I am enjoying it i must say, +83 now...
  • #483,835
  • Jul 8, 2011 4:34am Jul 8, 2011 4:34am
Quoting esheraz
can i sel at this level...or buy ...?????

Have a look at your charts, it could not be clearer. If you don't know, you need to spend another 10,000 hours and a few years looking at them.
  • #483,836
  • Jul 8, 2011 4:34am Jul 8, 2011 4:34am
yup, that was what scroood me yesterday! i knew there were obstacules in the area we turned but i expected, at least, a retest to decide... ended up with a crown on my head....

Quoting cloggie

You also need to find the triggers to change your bias here, what needs to happen for you to change from short biased to long biased? Keep in mind that price rarely bounces of a level like a wet cat of an electric fence to immediately change intermediate direction, she will consolidate and range a majority of the time first.
dreams do come true.
  • #483,837
  • Jul 8, 2011 4:34am Jul 8, 2011 4:34am
It's strange that eur is falling, it usually only consolidates in tight range before nfp.
  • #483,838
  • Jul 8, 2011 4:35am Jul 8, 2011 4:35am
i closed one of the trades and will let the others run..(i'm scalling..hehe!!) the reason being that the trend charts have come in..
i'm staying in this until i get an exit signal.. let's see how far it will go
  • #483,839
  • Jul 8, 2011 4:35am Jul 8, 2011 4:35am
same shitt and the ugly chart but still sexy

nice PA befor the NFP so enjoy

oh shitt i know gator and ken did short this move from the top hope they did stay with it
Attached Image (click to enlarge)
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  • #483,840
  • Jul 8, 2011 4:36am Jul 8, 2011 4:36am
http://www.forexfactory.com/showthre...51#post4761051



http://www.forexfactory.com/attachme...1&d=1310081248
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