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  • #558,861
  • Nov 6, 2011 10:48pm Nov 6, 2011 10:48pm
I've begun to short EUR/USD at midnight, when it was 1,3818. The sad thing is that, I've bought only 500 euros, so my profit is very small.... :/ Because of the last three days I don't dare to trade with too high stakes. Too risky.
Bear the bull's consequence...
  • #558,862
  • Nov 6, 2011 10:50pm Nov 6, 2011 10:50pm
Quoting Purple
Good evening everyone.. start of a new trading week.. all the best everyone, be patient and trade well!!

Here is my complete statement of all trades from last week:

Attachment

Enjoy!!
Am i the only one here not to give a tiniest damn about your or others' statements? Share your thoughts on how the markets will move instead.
  • #558,863
  • Nov 6, 2011 10:52pm Nov 6, 2011 10:52pm
Quoting deanoracer
"I do not fear an opponant with thousands of moves. I fear an opponant with one move - practiced thousands of times" ~Bruce Lee~

For some reason - this quote got me to focus on listening to the patterns of the charts - I found one - JUST ONE - pattern I could easily recognize and thats all I trade - a pattern that appears on every timeframe in every market... with executable entries and exits... after 20 months its all history in the making.

I hope this quote will help you find your way to the success you desire....
Nice quote.. never heard that one..
what's the pattern that you mentioned? just curious.
  • #558,864
  • Nov 6, 2011 11:10pm Nov 6, 2011 11:10pm
Quoting happytrader
thanks for the tips and ur good wish! what's the difference between swing trading and day trading? you're really good. making net profits every week and i can't even imagine myself making 100 pips a week without losing 500 pips the following week.

really really need to re-learn everything again. i learned forex trading from a so-called friend who's using price action. now i trade without any indicators at all.
I never understood how to trade PA, in fact I never really understood the term unless it meant "how the price is behaving at that point of time" then again you won't really know if it's just a knee jerk, retracement or reversal without any indicators, imho

Even fib traders use some sort of channel or trendlines. Easiest way of trading is recognizing patterns.

Well it took me 3 margin calls and some mood swings to realize what I was doing wrong.

Day trading is intra day where you sit in front of your screen waiting for something to happen and capture the pips, usually they are not concerned with the overall trend. By the end of the day, they'll usually take whatever they have and close all positions.

Probably can't do that if you have a day job, I live in Asia so I used to spend my nights glued to the screen.

Swing traders usually hold positions over days and weeks, for me as a rule of thumb, I close all trades on friday to calculate my returns.

When I day trade, my results were poor. Swing trading was better, although my percentage win is 50%, my risk/reward is 1:2 minimally.

I don't call myself good, I'm still learning and finding new ways to complement my method.

I can win 300 pips this week and lose 500 pips the next, how? Poor risk management. I used to question why use risk management? I mean you only ever use 1% to 3% of your account per trade right? So what happens to the other good 90-odd%?

So when I started out, I just traded my whole account every trade. Then I learnt diversification but still I was losing money. I only truly enjoyed forex when I learnt to resist the temptation to trade my whole account and use proper risk management
  • #558,865
  • Nov 6, 2011 11:24pm Nov 6, 2011 11:24pm
Quoting jayjb
I never understood how to trade PA, in fact I never really understood the term unless it meant "how the price is behaving at that point of time" then again you won't really know if it's just a knee jerk, retracement or reversal without any indicators, imho

Even fib traders use some sort of channel or trendlines. Easiest way of trading is recognizing patterns.

Well it took me 3 margin calls and some mood swings to realize what I was doing wrong.

Day trading is intra day where you sit in front of your screen waiting for something to happen and...

well, i actually didn't have any risk management at all.... i just let the losses run to about 50% of my capital then i sold... and this happened a few times, so you could imagine why i lost over 90%... of all my savings...
  • #558,866
  • Nov 6, 2011 11:34pm Nov 6, 2011 11:34pm
Quoting happytrader
well, i actually didn't have any risk management at all.... i just let the losses run to about 50% of my capital then i sold... and this happened a few times, so you could imagine why i lost over 90%... of all my savings...
Oh wow, you sustained a loss of 50% of your equity? That's pretty rough

I wasn't feeling so hot when I sustained a loss of around 3-4%.
  • #558,867
  • Nov 6, 2011 11:39pm Nov 6, 2011 11:39pm
Quoting factorof2
Oh wow, you sustained a loss of 50% of your equity? That's pretty rough

I wasn't feeling so hot when I sustained a loss of around 3-4%.
Yeap, like him. I don't feel it when I lose 3% of my account. In fact, I have a good laugh and analyze what went wrong.
  • #558,868
  • Nov 6, 2011 11:42pm Nov 6, 2011 11:42pm
good morning fellow traders
Trade responsiblypatience is the key/Swing trader
  • #558,869
  • Nov 6, 2011 11:43pm Nov 6, 2011 11:43pm
where is chicky,Miss him
If there was easy money lying around,no one would be forcing it into your
  • #558,870
  • Nov 6, 2011 11:44pm Nov 6, 2011 11:44pm
wow... look u're so much confident
Quoting FX Babie
i agree and it shld be on the downside !!!!!!!!!!!!!

remember the 4hr bearflag
not euphoria follower
  • #558,871
  • Nov 6, 2011 11:56pm Nov 6, 2011 11:56pm
I see sell signals in both short term and long term charts. Here's a weekly with a major support and trendline break, both with a good retest
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd wkly 11-6.JPG Size: 85 KB
  • #558,872
  • Nov 7, 2011 12:17am Nov 7, 2011 12:17am
Quoting Incrediblle
good morning fellow traders
http://favim.com/mini/201109/06/funn...ody-138813.jpg
The Thief of Wall Street
  • #558,873
  • Nov 7, 2011 12:20am Nov 7, 2011 12:20am
Quoting Chicky
http://favim.com/mini/201109/06/funn...ody-138813.jpg
Miss u
If there was easy money lying around,no one would be forcing it into your
  • #558,874
  • Nov 7, 2011 12:23am Nov 7, 2011 12:23am
Quoting Chicky
http://favim.com/mini/201109/06/funn...ody-138813.jpg
lol good evening here
Patience, Emotion Control and Discipline.
  • #558,875
  • Nov 7, 2011 12:47am Nov 7, 2011 12:47am
Quoting Chicky
http://favim.com/mini/201109/06/funn...ody-138813.jpg
and i thought u are a chick
Trade responsiblypatience is the key/Swing trader
  • #558,876
  • Nov 7, 2011 12:49am Nov 7, 2011 12:49am
Quoting Incrediblle
and i thought u are a chick
what called johncen

edited: what a plank i am, i need more coffee to wake up proper , you wasnt even quoting johncen
  • #558,877
  • Nov 7, 2011 12:50am Nov 7, 2011 12:50am
haha morning guys

next target 1.3740
second position aiming for tp2 or tp3... move down might be strong... stop loss at BE when we touch tp1
When life gives you lemons, make lemonade
  • #558,878
  • Edited 1:20am Nov 7, 2011 12:52am | Edited 1:20am
Quoting 21vs7
Just working on it...

SL to BE.

Have a nice weekend

Good morning. My BE went out on -27. A lesson to be learned.

Trying this one for a bit. 1,3784 a magic number for me for another test of 1,3830 and a bullish scenario. Waiting for DAX to open. News-have some retail sales for EZ. Nothing special. Only political alert is here to stay for a long time.

If, downward pressure will show us 1,3730 again to be resolved. Later on a test of 1,3660 if we get there. A strong level which in fact can be solved in half an hour if they attempt to dump this baby to 1,3440. Very carefull there.
Attached Image (click to enlarge)
Click to Enlarge Name: 11.gif Size: 45 KB
  • #558,879
  • Nov 7, 2011 1:01am Nov 7, 2011 1:01am
Morning , the last leg up for the correction still not eneded nor failed totally yet , watching how how long it can stay ,me bear side all along.
http://www.forexfactory.com/showthre...86#post5107686
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #558,880
  • Nov 7, 2011 1:37am Nov 7, 2011 1:37am
why this thread is slow today?
Trade responsiblypatience is the key/Swing trader
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