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  • #550,561
  • Oct 14, 2011 9:04am Oct 14, 2011 9:04am
Quoting micho
so much fun to see some people still trying to guess the top
Why the assumption people are guessing the tops.

If you look at the chart we have climbed 500 pips this week. 3890-3900 is a fib number being 50% of 1.4691 to 1.3130 on the daily.

Before you start trying to be the smart arse why don't you try and understand some peoples reasons
  • #550,562
  • Oct 14, 2011 9:07am Oct 14, 2011 9:07am
[quote=Chicky;5041898]
Quoting Vilgax

Do they also credit demo accounts for such situations?
You are so funny. i always enjoy your comments
You cannot learn better without losing
  • #550,563
  • Oct 14, 2011 9:08am Oct 14, 2011 9:08am
3930 is coming, so exciting !!!
I am now also thinking about to put a sell stop order at 1.3815 with s/l 1.3845
  • #550,564
  • Oct 14, 2011 9:09am Oct 14, 2011 9:09am
remember this one ? http://www.forexfactory.com/attachme...1&d=1318584860
Quoting iqyu5an
not euphoria follower
  • #550,565
  • Oct 14, 2011 9:11am Oct 14, 2011 9:11am
[quote=Chicky;5041898]
Quoting Vilgax

Do they also credit demo accounts for such situations?
joke you or serious asking?
" Accepting losses is the most important single investment devise "
  • #550,566
  • Oct 14, 2011 9:11am Oct 14, 2011 9:11am
Quoting FXConveyor
...........Before you start trying to be the smart arse why don't you try and understand some peoples reasons
You are right. The issue seems to be that these some peoples are bit too many with a veriety of 'floating opinions' that keep on changing with every seven and a half pip move.

Working to develop an EA that trades based on opinions and trade calls expressed on this thread. That will solve this issue.
The Thief of Wall Street
  • #550,567
  • Oct 14, 2011 9:12am Oct 14, 2011 9:12am
Quoting FXConveyor
Why the assumption people are guessing the tops.

If you look at the chart we have climbed 500 pips this week. 3890-3900 is a fib number being 50% of 1.4691 to 1.3130 on the daily.

Before you start trying to be the smart arse why don't you try and understand some peoples reasons
Guessing the top - shorting a market that is moving up. Reasons exist, but they don't change the fact that it's guessing.
  • #550,568
  • Oct 14, 2011 9:13am Oct 14, 2011 9:13am
Quoting PhAnTi'
dont fade this trend..... we just killed the 50% on the daily, ~ 3930 next big one,then 1.4000

Attachment
Agree, still possible today 1.40
  • #550,569
  • Oct 14, 2011 9:17am Oct 14, 2011 9:17am
Quoting micho
so much fun to see some people still trying to guess the top
We are not randomly short when it is going to high, i had shorted when it was at 3670,3680 and 3690 (all are 0.025 lots) and two days ago and all of them were s/l.. then i long at 3692 yesterday and got some pips to recover my lose before. Today, i did not short at 3830 but i am waiting for 3930 now, because i see 3930 was a strong resistence and i will try a 0.025 lot short again, so it has small risk and then i will also have a sell stop order at 3815 with sl at 3845, and another sell stop order at 3680 with s/l at 3710, and 3555 with s/l at 3585 (i dont care when they will trigger but if it is on bear trend that will be very profitable).
So everytime when i try to against trend (weekly and mothly are still bearish), i always either put very tight stop at crucial level (like last time i put 40 pips stop on average) or i enter a very small order and then i will only add more when it has profit so if the trend reversed later then it will still have good profits with small risk.
  • #550,570
  • Oct 14, 2011 9:17am Oct 14, 2011 9:17am
I am taking some shots at the Euro here with order flow divergence in place (futures);
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: EuroOcta.png Size: 55 KB
  • #550,571
  • Oct 14, 2011 9:18am Oct 14, 2011 9:18am
Quoting FXConveyor
Why the assumption people are guessing the tops.

If you look at the chart we have climbed 500 pips this week. 3890-3900 is a fib number being 50% of 1.4691 to 1.3130 on the daily.

Before you start trying to be the smart arse why don't you try and understand some peoples reasons
with all respect .

50% fib is weak . just like 23 %
and daily 50% fib is @ 3855 .

and if i am not mistaken I don't recall any pattern that triggers trader action either buy or sell on that level .

but to credit any trader's sell vision I would give an excuse for a butter fly pattern that more or less matches the 3855 .

which why I got out of my long but prefered not to take the short side now.

i guess this would give you a better argument
Attached Image (click to enlarge)
Click to Enlarge Name: butter.jpg Size: 102 KB
I SEE YOU !!
  • #550,572
  • Oct 14, 2011 9:21am Oct 14, 2011 9:21am
Quoting Yuchen
3930 is coming, so exciting !!!
I am now also thinking about to put a sell stop order at 1.3815 with s/l 1.3845
Would 3960 be an important point here?
http://img607.imageshack.us/img607/2010/unledtoj.jpg
Everybody dies but not everybody lives
  • #550,573
  • Oct 14, 2011 9:22am Oct 14, 2011 9:22am
Quoting Yuchen
We are not randomly short when it is going to high, i had shorted when it was at 3670,3680 and 3690 (all are 0.025 lots) and two days ago and all of them were s/l.. then i long at 3692 yesterday and got some pips to recover my lose before. Today, i did not short at 3830 but i am waiting for 3930 now, because i see 3930 was a strong resistence and i will try a 0.025 lot short again, so it has small risk and then i will also have a sell stop order at 3815 with sl at 3845, and another sell stop order at 3680 with s/l at 3710, and 3555 with s/l...
Ok so its three countertrend deals for 40 pips - 120 pips loss while trying to guess the top. And still no lesson learned. Look at Michos last posted picture and gaze at it for some time untill it stucks deeply in your subconsius. It is faster than reading psychological books.

T.

Edit: Well that picture is actually not as precise as I thought. Selling before top and buying before bottom is missing. Better read those books.
"I know one thing, that I know nothing." Sokrates
  • #550,574
  • Oct 14, 2011 9:22am Oct 14, 2011 9:22am
Quoting sintelion
Guessing the top - shorting a market that is moving up. Reasons exist, but they don't change the fact that it's guessing.
I won't argue because nobody knows where or when an up trend is going to become a down trend, but all traders are taught to use tools available to them such as fib levels, ema's etc.

Personally, I use fibs and daily range movement.

If a fib level coincides within the higher end of a 160-200 pip daily move then there is a good chance for a re-trace.

As it turns out 1.3890 wasn't a bad "guess" was it.

Already 2 opportuniies to scalp 30 pips for the in tray.

If that's guessing, I'll stick with it, thanks all the same
  • #550,575
  • Oct 14, 2011 9:26am Oct 14, 2011 9:26am
Done with the longs for now.
I don't like that last 5mn bullish engulfing candle ending dead inside the supply area...
COT: The precious data ignored
  • #550,576
  • Oct 14, 2011 9:29am Oct 14, 2011 9:29am
Quoting EZ Wider
Would 3960 be an important point here?
http://img607.imageshack.us/img607/2010/unledtoj.jpg
I think so ...
3979/80 but it is more important in my books
  • #550,577
  • Oct 14, 2011 9:30am Oct 14, 2011 9:30am
Been long since 1.3580 (averaged at 1.3618 with added longs on the way up). Target is set for 1.3950 and while I think we could get there today, I'll probably close out before the weekend if we don't. This has been an insanely easy week of trading
check out my blog: forexmademillionaire dot com
  • #550,578
  • Oct 14, 2011 9:31am Oct 14, 2011 9:31am
Top this Bitch!
Attached Image (click to enlarge)
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  • #550,579
  • Oct 14, 2011 9:35am Oct 14, 2011 9:35am
Quoting micho
have 2 open trades as well on GPBJPY long at 121.21 first target 122.27. might retrace on me
one trade closed +132
the other one left open, stop loss at break even, second target 123.44
When life gives you lemons, make lemonade
  • #550,580
  • Oct 14, 2011 9:35am Oct 14, 2011 9:35am
Quoting ThisPip
Top this Bitch!
Not likely. I'd be extremely surprised if we don't crack through 1.3900 today
check out my blog: forexmademillionaire dot com
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