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  • #554,861
  • Oct 26, 2011 10:25pm Oct 26, 2011 10:25pm
Quoting Geppy
I wouldn't fault them either... if it were true. The point was there seems to be an abundance of posts like this after large whipsaws. Basically, I don't buy it. Most of these people are trying to save face while licking their true wounds.
I have no problem admitting that I've shyed away from trading for a couple weeks now after a loss of 2% of my account on a few trades in order to simply watch charts, try and make educated guesses and then see if I would've been right. I've been getting better at it and better at reading price action and candles and I've made plenty of mistakes as well. I never post before or after whipsaws because I know I sure as hell didn't see a lot of them coming. I would say at best, I have an inkling of when they're going to occur just because of the current market sentiment on this pair and the news out of the EU summit and everything but I'm definitely pretty scared to trade these times as a very new person to forex.
  • #554,862
  • Oct 26, 2011 10:25pm Oct 26, 2011 10:25pm
above 3969 there is 3992 (where i shorted) and above that 1.4043, no 1.4000 level.
  • #554,863
  • Oct 26, 2011 10:27pm Oct 26, 2011 10:27pm
Quoting Geppy
Oh and yes, Kiwi... I used to trade GBP/JPY almost exclusively, but that pair has become such a bore to trade the last 1-2 years I can't stand it. Someday the ol' beast will heat back up again and the games will continue over there :-)

It is you

No no no is not personal attack I just worry is flip flop trader is dangerous, unless scalper, maybe would be help if all post entry have scalp, day, medium, long, position, swing, whatever each has own analysis, own targets etc, sometimes is very confuse, sell buy sell buy
My view targets <30 30 - 60 60 - 120 120 - 240 240 - 500
500 - 1000 >1000 all require different plan, different tolerance etc etc

Yes Geppy was always the "beast" she been extra uncontrolable for awhile, I only scalp sell her, careful of intervention, but sell fade off of each intervention she one of ladies, her reaction to specific levels is important to us, when she in sync she is beautiful lady, when not a diseased trollop
If you are new to Forex? Say Goodbye to your account!!
  • #554,864
  • Oct 26, 2011 10:28pm Oct 26, 2011 10:28pm
Quoting factorof2
I have no problem admitting that I've shyed away from trading for a couple weeks now after a loss of 2% of my account on a few trades in order to simply watch charts, try and make educated guesses and then see if I would've been right. I've been getting better at it and better at reading price action and candles and I've made plenty of mistakes as well. I never post before or after whipsaws because I know I sure as hell didn't see a lot of them coming. I would say at best, I have an inkling of when they're going to occur just because of the current...
Good plan, unless you're experienced and have extreme discipline... this isn't the market conditions you want to be playing around in. It's a great time to observe and test things though. Good luck!
check out my blog: forexmademillionaire dot com
  • #554,865
  • Oct 26, 2011 10:29pm Oct 26, 2011 10:29pm
Quoting Geppy
Really depends on your definition of a breakout. If you look back on an hourly, we've been probing the 1.3950 area since the 24th. However, we've failed to have an hourly close above that level until just a few hours ago. Right now, we're pulling back to the 1.3930-50ish zone and should see some support here. If it holds, I think we've already "broken out" and should move higher. Asian equity markets are trading higher and I won't be surprised to see Europe and US follow... this would only help support a higher EUR/USD. I'm targeting 1.4180...
all possible, lets wait and see what happens
When life gives you lemons, make lemonade
  • #554,866
  • Oct 26, 2011 10:33pm Oct 26, 2011 10:33pm
Hi Geppy

long time, how are you doing and how is trading going on.
  • #554,867
  • Oct 26, 2011 10:35pm Oct 26, 2011 10:35pm
im start buy ST 15pips TP 13pips
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be patient, self-belief and discipline... stay focus...
  • #554,868
  • Oct 26, 2011 10:37pm Oct 26, 2011 10:37pm
Quoting KiwiTrada
It is you

No no no is not personal attack I just worry is flip flop trader is dangerous, unless scalper, maybe would be help if all post entry have scalp, day, medium, long, position, swing, whatever each has own analysis, own targets etc, sometimes is very confuse, sell buy sell buy
My view targets <30 30 - 60 60 - 120 120 - 240 240 - 500
500 - 1000 >1000 all require different plan, different tolerance etc etc

Yes Geppy was always the "beast" she been extra uncontrolable for awhile, I only scalp sell her, careful of...
Yup, I'm by nature a swing trader. My minimum target is 100 pips and that's rare. I usually shoot for 200-400pips. I enter with about half a position and add to it as it moves in my direction... ending with a pretty sizable stake for about the last 150 pips and ride it to profit target.

I also run an automated strategy (only just recently) that kills it! Target profit on that is set to 140 pips and it wins 95%+ of the time. So yes, my nature is to shy away from the 30-50 pip scalps.

Regardless of one's trading style, I still don't believe 90% of the people posting here. I know there is the 10% (like yourself) that are legit. But it's not human nature to admit to screwing up, being wrong, blowing an account, etc. Most of the posts here I simply laugh at. It's amazing how many people are short from the high and long from the low and just so happened to get out of their opposing position for a "slight" win, loss, or at b/e. You rarely here about the huge blow ups. Sure, once in awhile there's the guy who pours his hear out and everyone encourages him for a few pages. But those are few and far between.

I filled out the paperwork to open another account for MBTrading today... corporate account. It was interesting they are now required to show the percentage of "profitable non-discretionary" accounts. I guess this is normal practice now, but I haven't opened a new account in awhile. Interesting to see only about 24% are profitable. I wonder how many are actually profitable to a degree that is considered at all significant. My guess is far fewer.
check out my blog: forexmademillionaire dot com
  • #554,869
  • Oct 26, 2011 10:38pm Oct 26, 2011 10:38pm
Quoting ssaqeel
Hi Geppy

long time, how are you doing and how is trading going on.
All is well. I stopped hanging out here for a bit for a couple reasons, but mainly because of a large, time-consuming, new project. It's finally getting off the ground now so I've got more time to socialize with fellow traders
check out my blog: forexmademillionaire dot com
  • #554,870
  • Oct 26, 2011 10:40pm Oct 26, 2011 10:40pm
Quoting Geppy
It was interesting they are now required to show the percentage of "profitable non-discretionary" accounts. I guess this is normal practice now, but I haven't opened a new account in awhile. Interesting to see only about 24% are profitable. I wonder how many are actually profitable to a degree that is considered at all significant. My guess is far fewer.
And this is for corp accounts?
  • #554,871
  • Oct 26, 2011 10:43pm Oct 26, 2011 10:43pm
Quoting Ultimate6
And this is for corp accounts?
No, it's all "non-discrectionary" accounts... meaning, any account traded solely by the account holder (no joint accounts, etc.) I guess they just have to disclose their numbers for the last 4 quarters now as regular practice to new accounts. I found a write-up about it on babypips via Google:

http://www.babypips.com/blogs/espipi...ker_doing.html
check out my blog: forexmademillionaire dot com
  • #554,872
  • Oct 26, 2011 10:48pm Oct 26, 2011 10:48pm
Quoting Geppy
No, it's all "non-discrectionary" accounts... meaning, any account traded solely by the account holder (no joint accounts, etc.) I guess they just have to disclose their numbers for the last 4 quarters now as regular practice to new accounts. I found a write-up about it on babypips via Google:

http://www.babypips.com/blogs/espipi...ker_doing.html
Very interesting.
  • #554,873
  • Oct 26, 2011 10:49pm Oct 26, 2011 10:49pm
Quoting Geppy
No, it's all "non-discrectionary" accounts... meaning, any account traded solely by the account holder (no joint accounts, etc.) I guess they just have to disclose their numbers for the last 4 quarters now as regular practice to new accounts. I found a write-up about it on babypips via Google:

http://www.babypips.com/blogs/espipi...ker_doing.html
Also, the accounts that are profitable are probably up 5-20% while the losing accounts are probably down 50-100%.
  • #554,874
  • Oct 26, 2011 10:52pm Oct 26, 2011 10:52pm
Quoting Ultimate6
Very interesting.
Oanda does not make sense. I can't believe that.
  • #554,875
  • Oct 26, 2011 10:57pm Oct 26, 2011 10:57pm
3969 TP hit. seems we going up again.
  • #554,876
  • Oct 26, 2011 11:00pm Oct 26, 2011 11:00pm
We should pass the previous high pretty easy now. Forgot to mention the level between 3992 and 4043, it's 4016, where i think i will short from.
  • #554,877
  • Oct 26, 2011 11:02pm Oct 26, 2011 11:02pm
Quoting Ultimate6
We should pass the previous high pretty easy now. Forgot to mention the level between 3992 and 4043, it's 4016, where i think i will short from.
I beg to differ.
  • #554,878
  • Oct 26, 2011 11:05pm Oct 26, 2011 11:05pm
Quoting Kowalczyk
I beg to differ.
So please give your opinion then.
  • #554,879
  • Oct 26, 2011 11:10pm Oct 26, 2011 11:10pm
Quoting Ultimate6
So please give your opinion then.
We should see major resistance at ~1.3994. If we pass it, then you can expect the Eur/Usd to rally, but I am not fully convinced that it will break 1.3994. (if we reach it again). In my opinion, you should sit out if you want to play it safe and short here if you are a risk taker.

The dollar index is the key here. The 200 daily SMA is at ~75.78 and that is where it had a strong bounce. That is why the eur/usd bounced hard off of 1.3994. Then the dollar index bounced off 76.00, which is why the eur/usd saw support at 1.3944. Basically, whichever it reaches first it will probably break.

My money is on 1.3994 for the eur/usd and 76.00 for the dollar index.
  • #554,880
  • Oct 26, 2011 11:12pm Oct 26, 2011 11:12pm
Quoting Kowalczyk
We should see major resistance at ~1.3994. If we pass it, then you can expect the Eur/Usd to rally, but I am not fully convinced that it will break 1.3994. (if we reach it again). In my opinion, you should sit out if you want to play it safe and short here if you are a risk taker.
Cool, always good to hear someone else's opinion.
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