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EURUSD

  • #561,301
  • Nov 12, 2011 1:26pm Nov 12, 2011 1:26pm
Quoting pkimnyc
to a certain extent, yes, i do agree. how to pick an entry is another issue. what comes up must comes down, but how far would it go up or down is entirely up to the market.
Yes, the entry point is a big problem. It's hard to find a good entry and exit point and they aren't predictable (well(?)). I have that view, there are no good or bad entry/exit point if you can earn money with it. I haven't traded too much yet, but every time I opened a position, I found a better place to open a position, and a better point to quit after I bought/sold something. The predictions shows the way, and you have to find a good entry and a good closing point. If you aren't a daytrader, it's worth it, but needs a lots of patience. Sometimes a trend shows strange behaviour, but after a little time, continues it's own way. The hard thing is that when markets are driven by the news. You can't put the news into equations, so it's hard to keep them out of prediction.
Bear the bull's consequence...
  • #561,302
  • Nov 12, 2011 1:32pm Nov 12, 2011 1:32pm
Quoting Bice
Yes, the entry point is a big problem. It's hard to find a good entry and exit point and they aren't predictable (well(?)). I have that view, there are no good or bad entry/exit point if you can earn money with it. I haven't traded too much yet, but every time I opened a position, I found a better place to open a position, and a better point to quit after I bought/sold something. The predictions shows the way, and you have to find a good entry and a good closing point. If you aren't a daytrader, it's worth it, but needs a lots of patience. Sometimes...
Keep Looking how people draw on their chart and study from it - one day you will found "everything is Linked one each other"

Its not easy - Required Hard Work
If there was easy money lying around,no one would be forcing it into your
  • #561,303
  • Nov 12, 2011 1:38pm Nov 12, 2011 1:38pm
Quoting Bice
Yes, the entry point is a big problem. It's hard to find a good entry and exit point and they aren't predictable (well(?)). I have that view, there are no good or bad entry/exit point if you can earn money with it. I haven't traded too much yet, but every time I opened a position, I found a better place to open a position, and a better point to quit after I bought/sold something. The predictions shows the way, and you have to find a good entry and a good closing point. If you aren't a daytrader, it's worth it, but needs a lots of patience. Sometimes...
i'm a day trader (well... semi) these days. figure out when liquidity comes in the market, and when it doesn't. that should give you a clue to your entries and exits. patients is about waiting, not about entering a position or positions and hope it turns to your direction (if this is what you meant). for example, i only took 2 trades last week.
  • #561,304
  • Nov 12, 2011 1:45pm Nov 12, 2011 1:45pm
Quoting Bice
there are no good or bad entry/exit point if you can earn money with it.
disagree 100%. good entries and exits are good r:r. without that, your account will be wiped out in long run.
  • #561,305
  • Nov 12, 2011 1:45pm Nov 12, 2011 1:45pm
Quoting FXMindset
Hmmm - If Breaking the downtrend - Still Limited ?
Any reason why we would break downtrend? Even a QE3 is not strong enough to ignore the EZ problems.
It's low leverage what I have in low 1.37xx. I'll take it to 1.4250 and back if I have to. But I will end in profit.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #561,306
  • Nov 12, 2011 3:21pm Nov 12, 2011 3:21pm
Quoting RamsesII
We've now broken and retested a daily/weekly trendline and also have broken from a bearish consolidation pattern. The possibility is there for this move to be just a very sharp correction leading up to a very steep decline. I'm playing for this scenario:
I'm set up for a similar scenario, I believe we are in a downward channel, the rally is just a short term correction before a further decline towards the 1.30 level and lower through the course of 2012.

Whilst the dollar may not be at its best, no matter how much positive spin placed on the euro, the fact is the currency is in a dire much situation and will take time to recover. With the dollar being the reserve currency, no matter how bad the situation, the dollar will always come out on top.

The attached image shows the 2011 downtrend, red/blue up until the end of October. Since the pair has dropped 700 pips and climbed another 300. Unless the pair breaks above the red line, we're still on course for the downward channel. Any other thoughts?
Attached Image (click to enlarge)
Click to Enlarge Name: 2011 Daily Analysis.jpg Size: 275 KB
  • #561,307
  • Nov 12, 2011 3:22pm Nov 12, 2011 3:22pm
Quoting jason_yap84
Hey Bro's,

I am beginner in FX. Would like to get some advice for my trading on EURUSD.

Currently i'm holding a sell transaction at 1.3550. The last point on friday was at 1.3753 which going for up trend. Would like to get some advice whether should i release it with loss of 200 pips or wait further?
I'm in a similar position, I shorted at 1.3485. I have too much at stake, so I'm willing to hold out up to 1.42 if I have to. But the decision is entirely up to you and whether your account can hold out. If 200 pips is an affordable loss, let it go otherwise make sure you have enough money to ride out the wave.
  • #561,308
  • Nov 12, 2011 3:22pm Nov 12, 2011 3:22pm
Quoting KillerWhale
Any reason why we would break downtrend? Even a QE3 is not strong enough to ignore the EZ problems.
It's low leverage what I have in low 1.37xx. I'll take it to 1.4250 and back if I have to. But I will end in profit.
You're willing to hold out around 500 pips? Did you not criticise my short holdings just last night?
  • #561,309
  • Nov 12, 2011 4:14pm Nov 12, 2011 4:14pm
Berlusconi resigned
  • #561,310
  • Nov 12, 2011 4:33pm Nov 12, 2011 4:33pm
Quoting Kiyani
I'm in a similar position, I shorted at 1.3485. I have too much at stake, so I'm willing to hold out up to 1.42 if I have to. But the decision is entirely up to you and whether your account can hold out. If 200 pips is an affordable loss, let it go otherwise make sure you have enough money to ride out the wave.

You literally shorted PIP perfect the bottom on Thursday didn't you.

Don't hold against the Trend is key here, ofcourse if your on a H4 trend then thats still down, but trends are so hard to read in H4 you don't really gain much of an edge.

M15, trend was down, but it's right at the point where it could turn back up again, so if it doesn't put in a big down move monday BAIL!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #561,311
  • Nov 12, 2011 4:50pm Nov 12, 2011 4:50pm
Quoting LeanLowFx
Berlusconi resigned
He ruled for 17 years.. zero legacy.. and one of the ugliest looking states-person out there after Munmar Gaddafi..
  • #561,312
  • Nov 12, 2011 4:57pm Nov 12, 2011 4:57pm
Quoting LeanLowFx
Berlusconi resigned
nothing on earth is eternal...
  • #561,313
  • Nov 12, 2011 5:01pm Nov 12, 2011 5:01pm
the last political right that was met Jesus Christ ...
  • #561,314
  • Nov 12, 2011 5:05pm Nov 12, 2011 5:05pm
Quoting Purple
He ruled for 17 years.. zero legacy.. and one of the ugliest looking states-person out there after Munmar Gaddafi..
Plenty of legacy, unfortunately for Italy its all negative - the worst Italian leader since Mussolini.
  • #561,315
  • Nov 12, 2011 5:18pm Nov 12, 2011 5:18pm
I really don't understand if Berlusconi is hated that much why Italians have chosen him as PM for 17 years. I guess there is democracy and elections in Italy.
  • #561,316
  • Nov 12, 2011 6:16pm Nov 12, 2011 6:16pm
Quoting pkimnyc
disagree 100%. good entries and exits are good r:r. without that, your account will be wiped out in long run.
I meant, in small ranges, there is most of the times a better entry or exit point. For example, you open a long position at 1,3700, but some minutes after, it will be 1,3695 and it begins to grow 1,38xx after this. You can't know exactly when to enter, but if the price will be 1,38xx after you entered, you made a great deal, but if you would entered at 1,3695 and not 1,3700, you would earn more money. This is a small amount of money, I know, but lot of small makes a big one.
Bear the bull's consequence...
  • #561,317
  • Nov 12, 2011 6:35pm Nov 12, 2011 6:35pm
Quoting FX Babie
next week you better be a euro bull or loss your a/c next week..i see a very nice trend next week ...am LONG !!!!!!!
And what's your whole account? $3? LOL
  • #561,318
  • Nov 12, 2011 6:37pm Nov 12, 2011 6:37pm
Quoting Bice
I meant, in small ranges, there is most of the times a better entry or exit point. For example, you open a long position at 1,3700, but some minutes after, it will be 1,3695 and it begins to grow 1,38xx after this. You can't know exactly when to enter, but if the price will be 1,38xx after you entered, you made a great deal, but if you would entered at 1,3695 and not 1,3700, you would earn more money. This is a small amount of money, I know, but lot of small makes a big one.
welcome to trading. if your reward is greater than risk, it is a good entry. as long as the entry is within the range of risk. no way in the fuckin hell you will get the exact top or bottom to the pip.
  • #561,319
  • Nov 12, 2011 8:00pm Nov 12, 2011 8:00pm
Quoting Incrediblle
people are here to learn and trade happily
It's nice to have a dream. Harsh reality check for ya. I'm sorry, but looks like you're in the wrong place for that, but gl.
  • #561,320
  • Edited 10:04pm Nov 12, 2011 8:50pm | Edited 10:04pm
Quoting Kiyani
You're willing to hold out around 500 pips? Did you not criticise my short holdings just last night?
Maybe you didn't get it, I was just making fun of your trade.

I can tell you this, on Oct 10th I entered shorts around 1.36xx while we were going up. Not because I can't trade but because I was trading being in the hospital heavily under narcotics after surgery.
When we were approaching 1.42 after that I said here on FF that I chose to hold onto them because I was sure we would back down again.
2 days later I closed those trades for profit after being 600+ pips in loss.
So all I can say is that it's not smart to be short @ that level but I would not even put a stop in there if I had them.
The big disadvantage of those kind if trades is the drawdown on capital. Even if capital is sufficient, it is part of your capital that you can't use for productive trades. It is the floating loss + the margin used for those trades. So it limits your trading until those trades are in profit.
But no, I wouldn't take the loss even if we would make a double top @ 1.4250

It's up to you to decide. I don't know what leverage you are using, whether or not you're close to margin call.
I would not risk a margin call that's for sure.
I trade in 4 different accounts for different trades, in such a situation I might have to switch over some capital from one account to the other so again, it effects the net capital that is available for productive trades.

Whatever you decide, good luck anyhoos
New voice message: Why are you calling me? If I need you, I'll call you!
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