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  • #557,281
  • Nov 2, 2011 3:34pm Nov 2, 2011 3:34pm
Quoting Yuchen
good trade, maybe you should close some of your profits otherwise you may feel nervous if the price moves up and get upset !!
Most of those are alrwady closed.. trade list is a day old
Don't have an ego. Always question yourself and your ability.
  • #557,282
  • Nov 2, 2011 3:36pm Nov 2, 2011 3:36pm
Quoting RamsesII
i trade minilots like you bro aint nothing to be ashamed of homey!
u deserve this->
  • #557,283
  • Nov 2, 2011 3:54pm Nov 2, 2011 3:54pm
Quoting dbfusion
this teaches you not to use SL !
How would you place a trade without using stop loss.If you do ,you are digging your grave in FOREX .
With patience and discipline,you move beyond the sky
  • #557,284
  • Nov 2, 2011 4:27pm Nov 2, 2011 4:27pm
What a horrible day, can't stand this whipsaw, more than 50 pip moves you gotta lock in the profit rather than watch it all come back on you. Wonder which channel we becomes dominant tonight. I guess it depends on S&M's press conference and whether they beat Greece into submission again.
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Yay! Pips for everyone!
  • #557,285
  • Nov 2, 2011 4:55pm Nov 2, 2011 4:55pm
Quoting Pipsforall
What a horrible day, can't stand this whipsaw, more than 50 pip moves you gotta lock in the profit rather than watch it all come back on you. Wonder which channel we becomes dominant tonight. I guess it depends on S&M's press conference and whether they beat Greece into submission again.
Yeah lots of weird moves today but at least S&R levels were respected pretty well for the most part. In between it felt pretty unpredictable.
  • #557,286
  • Nov 2, 2011 5:01pm Nov 2, 2011 5:01pm
Quoting biodunola07
How would you place a trade without using stop loss.If you do ,you are digging your grave in FOREX .
I close my losing trades manually .

I don't like to be at the mercy of a spike or fake move or spread widening or broker games or mental pressure .

support & resistance were never fixed numbers, so why should be my SL ?.

why close a sell at a peak or close a buy at a bottom ?

I can use pending orders or TPs . but fixed SL is a no no to me .

its all about PA and when PA proves against me then I close .
it takes me long time to trigger a trade trying to buy at very low price and sell at very high price . why it should take me a second to lose ?

what are the odds of me selling at a bottom or buying at a peak so that I SL myself even at worse level !!

that's my point of view .
I SEE YOU !!
  • #557,287
  • Nov 2, 2011 5:10pm Nov 2, 2011 5:10pm
I thought the market was gonna get bloody following the statement. Went out and I'm back, so surprised to still find my long hale and hearty. Thought it would have been stopped out at BE. Statement was supposed to make the dollar rally which it did against some other pairs, but the rally was contained, especially by the euro. Someone, somewhere, is protecting the euro from tanking absorbing all the shorts. Feels like a conspiracy...


Quoting biodunola07
Sir, NEWS does not have respect for support when it is moving the market except the market stabilizes after the news
sup bro? I really doubt that. What strategy do you use??? Cos believe it or not, anything that drives the market respects the resistance and support levels. NEWS is always priced in your charts. Have you ever had any experience with the tape?
Don't just beat the markets, leave bruises.
  • #557,288
  • Nov 2, 2011 5:14pm Nov 2, 2011 5:14pm
Quoting biodunola07
How would you place a trade without using stop loss.If you do ,you are digging your grave in FOREX .
Just because you don't know how to trade without losing doesn't mean the same for everyone else.

Some of us actually follow the fundamentals are able to avoid all the pitfalls beforehand.
  • #557,289
  • Nov 2, 2011 5:24pm Nov 2, 2011 5:24pm
Quoting biodunola07
Sir, NEWS does not have respect for support when it is moving the market except the market stabilizes after the news
Just to explain a little about supports and resistances from tape experience. You might be getting a view of it as horizontal lines or trend lines or pivot lines drawn on you chart but that's not how it works. A real support level is where you have the highest probable limit buy orders and take profit on short orders lined up while for the resistance, you have limit sell orders, stop orders on opened longs and take profit orders on longs. This are the levels that reject prices sharply because of the high volume of orders been filled. Before the news, professional have all sort of orders in place...market orders, limits, stops, OCOs, P&Cs and so on. So no matter what comes from the news, these levels are hit and prices are bound to react. I think I've tried a bit on the explanation. Wish you green pips.

BTW, if you reply to this and I miss it, feel free to PM me.
Don't just beat the markets, leave bruises.
  • #557,290
  • Nov 2, 2011 5:44pm Nov 2, 2011 5:44pm
Quoting kibescorp
Just because you don't know how to trade without losing doesn't mean the same for everyone else.

Some of us actually follow the fundamentals are able to avoid all the pitfalls beforehand.
How do you do that? So your never had 1 losing trade in your whole trading career?
  • #557,291
  • Nov 2, 2011 5:53pm Nov 2, 2011 5:53pm
Was long since 1.364 last night. Was going to close just before FOCM but deiced not too. For some reason, I always choose the right direction but fail to act. I was stopped out at 1.375. My new long order got filled at 1.3738. SL at 1.36995 and TP still at 1.392.
  • #557,292
  • Nov 2, 2011 5:55pm Nov 2, 2011 5:55pm
We should see support at 1.3712 and the ~1.3699/702 (depends on when/if we get there). Below that is 1.3691 and then 1.3645.
  • #557,293
  • Nov 2, 2011 5:55pm Nov 2, 2011 5:55pm
Quoting Kowalczyk
Was long since 1.364 last night. Was going to close just before FOCM but deiced not too. For some reason, I always choose the right direction but fail to act. I was stopped out at 1.375. My new long order got filled at 1.3738. SL at 1.36995 and TP still at 1.392.
I'm really interested to see where the Asian session takes us tonight. I'm pretty neutral right now but I definitely think we have room for some topside movement if this leg up and retrace starts us on another impulse wave.
  • #557,294
  • Nov 2, 2011 6:01pm Nov 2, 2011 6:01pm
Possible short opportunity with a descending triangle on the 15M chart. I think if it does break down it will be pretty controlled and offer small gains.
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  • #557,295
  • Nov 2, 2011 6:02pm Nov 2, 2011 6:02pm
Quoting dbfusion
I close my losing trades manually .

I don't like to be at the mercy of a spike or fake move or spread widening or broker games or mental pressure .

support & resistance were never fixed numbers, so why should be my SL ?.

why close a sell at a peak or close a buy at a bottom ?

I can use pending orders or TPs . but fixed SL is a no no to me .

its all about PA and when PA proves against me then I close .
it takes me long time to trigger a trade trying to buy at very low price and sell at very high price . why it should take me a...
Brilliant - I hate SL's I have wasted more money on them than anything else. I only use them if I plan to be away from my pc or alseep.
  • #557,296
  • Nov 2, 2011 6:03pm Nov 2, 2011 6:03pm
Quoting Motion
Just to explain a little about supports and resistances from tape experience. You might be getting a view of it as horizontal lines or trend lines or pivot lines drawn on you chart but that's not how it works. A real support level is where you have the highest probable limit buy orders and take profit on short orders lined up while for the resistance, you have limit sell orders, stop orders on opened longs and take profit orders on longs. This are the levels that reject prices sharply because of the high volume of orders been filled. Before the...
Thanks for the info.I appreciate it .learning continues
With patience and discipline,you move beyond the sky
  • #557,297
  • Nov 2, 2011 6:07pm Nov 2, 2011 6:07pm
Quoting factorof2
I'm really interested to see where the Asian session takes us tonight. I'm pretty neutral right now but I definitely think we have room for some topside movement if this leg up and retrace starts us on another impulse wave.
Yeah, I think that the upside has just a slight edge over the downside but the risk to reward is good. If we do go up, we will go up a lot. If we pass 1.383, we could shoot straight up to the 1.3925 area because of the inside pin bar on the daily.
  • #557,298
  • Nov 2, 2011 6:07pm Nov 2, 2011 6:07pm
Quoting factorof2
Possible short opportunity with a descending triangle on the 15M chart. I think if it does break down it will be pretty controlled and offer small gains.
I'm really doubtful this will go down from here more than 10 or 15 pips now. Too many constraining factors for me.
  • #557,299
  • Nov 2, 2011 6:08pm Nov 2, 2011 6:08pm
Quoting Kowalczyk
Yeah, I think that the upside has just a slight edge over the downside but the risk to reward is good. If we do go up, we will go up a lot. If we pass 1.383, we could shoot straight up to the 1.3925 area because of the inside pin bar on the daily.
Very good point, seems like now would be a great place to enter if you favor longs as we've retraced to about the 50% mark on the pin bar. Seems like good R/R for a long trade.
  • #557,300
  • Nov 2, 2011 6:11pm Nov 2, 2011 6:11pm
Quoting factorof2
Possible short opportunity with a descending triangle on the 15M chart. I think if it does break down it will be pretty controlled and offer small gains.
My chart shows it dropped pre-maturely before touching the trend line. The usually means that the trend line is not respected/ignored. However, it should set the tone for the Asian session as to if we go down or up.
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