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  • #490,421
  • Jul 14, 2011 8:04pm Jul 14, 2011 8:04pm
Quoting johnnyrei
short @ 1.4170
i took long and stop out (+0.1 pip)
Mohan
  • #490,422
  • Jul 14, 2011 8:13pm Jul 14, 2011 8:13pm
Quoting johnnyrei
short @ 1.4170
What was the reason behind that short if i may ask?
Price = the amount a greater fool is willing to pay!
  • #490,423
  • Jul 14, 2011 8:25pm Jul 14, 2011 8:25pm
Quoting Pip-hunter
What was the reason behind that short if i may ask?
Daily pivot at 1.4180.
  • #490,424
  • Jul 14, 2011 8:44pm Jul 14, 2011 8:44pm
A breakout of the acending triangle on the 15m and 1.42108 which is close to m2 acts as a road block would signal a short position for me.
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 74 KB
  • #490,425
  • Jul 14, 2011 8:54pm Jul 14, 2011 8:54pm
Quoting 4xjunkie
A breakout of the acending triangle on the 15m and 1.42108 which is close to m2 acts as a road block would signal a short position for me.
Attachment
i too have 1.4212 on my chart (this is my first chart) , my long stop out (+0.1 pip)
Attached Image (click to enlarge)
Click to Enlarge Name: chart.jpg Size: 165 KB
Mohan
  • #490,426
  • Jul 14, 2011 8:56pm Jul 14, 2011 8:56pm
Quoting FX-Ray
good one
you got in really early in that trade. good job. what signaled it for you? i got in at 1.4163 after the 12MA cross on 5m. usually a good momentum trade and if it goes against, will always be at BE.
  • #490,427
  • Jul 14, 2011 8:58pm Jul 14, 2011 8:58pm
Price obeyed the oversold stochastic on the 1h. I wouldn't expect too much upside though since it's fighting the 4h coming down from overbought territory. Resistance is likely to be at the channel on the 1hr.
Attached Image
  • #490,428
  • Jul 14, 2011 9:07pm Jul 14, 2011 9:07pm
Quoting mohan76
i too have 1.4212 on my chart (this is my first chart) , my long stop out (+0.1 pip)
It looks good at 4210 but I also had a spot at 4328 that eu did not get to on the last rally which is still possible. you never know for sure until they it is too late and you missed out. one thing is for sure time will tell.
  • #490,429
  • Jul 14, 2011 9:12pm Jul 14, 2011 9:12pm
Quoting 4xjunkie
It looks good at 4210 but I also had a spot at 4328 that eu did not get to on the last rally which is still possible. you never know for sure until they it is too late and you missed out. one thing is for sure time will tell.
i have policy of 30 min. pause between trade so i did not take another trade. one more think to remember its FRIDAY
Mohan
  • #490,430
  • Jul 14, 2011 9:18pm Jul 14, 2011 9:18pm
Quoting mohan76
i have policy of 30 min. pause between trade so i did not take another trade. one more think to remember its FRIDAY

not only is it Friday or Fryday......it is also option expiry day.......just another thing to through into the ring of the political volatility.....
I don't trust any move - when you have profit...take it.
  • #490,431
  • Jul 14, 2011 9:21pm Jul 14, 2011 9:21pm
Quoting mohan76
i have policy of 30 min. pause between trade so i did not take another trade. one more think to remember its FRIDAY
That is an excellent policy. I think that I will try it. It should help keep emotions in check. You are right it is Friday anything can happen, but anything can happen at any time. I try to stick to tec. trading I get too lost in all the fundies and charts are more useful to me than trying to create logic out of page's and page's numbers and opinions. I am not saying that they are not important just for me charts and price action makes more cents.
  • #490,432
  • Jul 14, 2011 9:25pm Jul 14, 2011 9:25pm
Quoting 4xjunkie
charts and price action makes more cents.
That's all you need.
  • #490,433
  • Jul 14, 2011 9:26pm Jul 14, 2011 9:26pm
Quoting pkimnyc
That's all you need.
yep
  • #490,434
  • Jul 14, 2011 9:27pm Jul 14, 2011 9:27pm
Quoting 4xjunkie
That is an excellent policy. I think that I will try it. It should help keep emotions in check. You are right it is Friday anything can happen, but anything can happen at any time. I try to stick to tec. trading I get too lost in all the fundies and charts are more useful to me than trying to create logic out of page's and page's numbers and opinions. I am not saying that they are not important just for me charts and price action makes more cents.
learned with 300 pip loss, and you learned for free , its must after loss and abnormal/hedge profit (most dangerous).
Mohan
  • #490,435
  • Jul 14, 2011 9:33pm Jul 14, 2011 9:33pm
As shown in the chart...we have finally left the rising channel (or you can call it a bear flag)...However we have entered a downward channel.....
before tonight London, probably some consolidation is needed here...
I have tried to short this pair @ 1.4184...tight sl 10 pips...

http://www.forexfactory.com/attachme...6&d=1310696783
Patience, Emotion Control and Discipline.
  • #490,436
  • Jul 14, 2011 9:34pm Jul 14, 2011 9:34pm
Quoting mohan76
learned with 300 pip loss, and you learned for free , its must after loss and abnormal profit (most dangerous).
well you learn something new every day and that was if for me. Thanks for sharing hopefully we all learn from each other that is why we are hear right. Tuff loss. I bet the first thing you wanted to do was double down, That is where I learned how the double edge of the sward worked that really added insult to injury.
  • #490,437
  • Jul 14, 2011 9:41pm Jul 14, 2011 9:41pm
Quoting mohan76
i have policy of 30 min. pause between trade so i did not take another trade. one more think to remember its FRIDAY
Yes good policy, wish i had it myself, as that 2nd one i tried has been stopped out too! Today hasnt ended in tears, its STARTED in tears!!
  • #490,438
  • Jul 14, 2011 9:44pm Jul 14, 2011 9:44pm
Quoting Jazznos
Yes good policy, wish i had it myself, as that 2nd one i tried has been stopped out too! Today hasnt ended in tears, its STARTED in tears!!

May I ask....do you trade full-time?
I don't trust any move - when you have profit...take it.
  • #490,439
  • Jul 14, 2011 9:46pm Jul 14, 2011 9:46pm
Quoting johnnyrei
short @ 1.4170
Ok - i closed it at 80 - pa too slow and I want to go to sleep without any open positions. Tomorrow will observe mostly,will only take 100% sure trades, if i find them between releases

bye bye
  • #490,440
  • Jul 14, 2011 9:49pm Jul 14, 2011 9:49pm
me thinks we got a runner on the short side........the next 10 mins will tell the tale of the tape.......waiting for the 15 min bar to close to confirm.
I don't trust any move - when you have profit...take it.
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