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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #10,361
  • Nov 17, 2011 1:21pm Nov 17, 2011 1:21pm
Quoting Blobik
Where, for two days now I have been expecting a correction and some risk on, especially today as price on EUR made it look like a double bottom. We got pretty major risk off instead. Right now I think EUR will go lower, so maybe she will make a correction (If I am a good contrarian indicator ).

Well, either way, I will be in a bad mood as I am not getting my money back anytime soon. But after some time I will eventually get up and come back better prepared. Maybe I need to try out few new systems on demo. Either way, when you wipe out your...
Try this - Might be last push up before crash - maybe yes maybe no - Or Aim the Sky - Seem There's a decision must be decided to found a decision then decided to get a decision
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If there was easy money lying around,no one would be forcing it into your
  • #10,362
  • Nov 17, 2011 1:22pm Nov 17, 2011 1:22pm
Quoting michaelnew
I'm on this forex thing for only 2-3 months, but before that I had an online business, meaning I've been my own boss for more than 12 years. I still have this business, by the way, only not as big as it was.

What I learned during those years was that there is no "demo". If you want to make money, prepare to get hit, accept it (and oh, yes, I know how hard it is to accept it, first hand) and then recover and move on. Like Yoda says: "Do, or do not. There is no try."

Wishing you strength. What I like the most at this forex trading thing is...
Maybe I will just go microlots, but I will try demo first, as it will take a bit more for my broker to introduce microlots.

Okay, but this is Euranalysis, I thank everyone for the support, but I just noticed that I am spaming the thread, so TY everyone, and lets get bact to analysis Or, in my case, to work... I just noticed my homework piled up!
  • #10,363
  • Nov 17, 2011 1:25pm Nov 17, 2011 1:25pm
Quoting Blobik
Where, for two days now I have been expecting a correction and some risk on, especially today as price on EUR made it look like a double bottom. We got pretty major risk off instead. Right now I think EUR will go lower, so maybe she will make a correction (If I am a good contrarian indicator ).

Well, either way, I will be in a bad mood as I am not getting my money back anytime soon. But after some time I will eventually get up and come back better prepared. Maybe I need to try out few new systems on demo. Either way, when you wipe out your...

Logic told many of us that it should have been more probable to break the 3550 today...

I lost today pretty decent size too trading SP500 long today. At first, i won but then a heavy selloff occured.

I believe many lost a lot today trying to go long Oil above 99 given the previous resistance turning to support.

There was nothing wrong with your analysis it was just one of those days. There was a double bottom on eur today but it just failed to break above 3550


ADD: euro struggles heavily not to trip the stops below 3450...comee ooon give me 3445
  • #10,364
  • Nov 17, 2011 1:27pm Nov 17, 2011 1:27pm
Quoting PipTrapper
Isn't it a real bummer when you have a limit order at 1.35390 and price makes it to 1.35387 and reverses? ...especially when another broker's price makes it to 1.35394?
Welcome to the crowd.
Kill the ego, or it will kill the mission.
  • #10,365
  • Nov 17, 2011 1:29pm Nov 17, 2011 1:29pm
Quoting FXMindset
Try this - Might be last push up before crash - maybe yes maybe no - Or Aim the Sky - Seem There's a decision must be decided to found a decision then decided
Sometimes I really have problems with understanding your words... Probably that is what happens when two foreigners try to communicate in a language that is not native to either of them

I assume you just said that there is some probability of testing the white trendline. That is why I closed everything at once, as I thought it might get up again, so I preferred not to leave my shorts running even though overall it should crash down eventually...

Okay, I am getting talkative (more than usually), it is the first symptome that I should go do something
  • #10,366
  • Nov 17, 2011 1:33pm Nov 17, 2011 1:33pm
Quoting lolygagv2
Yeah you gotta play with money I think that you can afford to lose without any lifestyle change.

this works only in theory.

Sooner or later, when you get more confident you start risking more cause you want to see sizable growth in your account. Sadly, noone cares about 10-20% return on their capital which is actually A LOT...If someone could consistently do it. Most hedge funds, money managers can't.
  • #10,367
  • Nov 17, 2011 1:33pm Nov 17, 2011 1:33pm
Quoting michaelnew
What I like the most at this forex trading thing is not the potential profit, but the fantastic strengthening and disciplining power. It forces you to see your flaws and work them out. Because if you don't, it really, really hurts.
This is one of the things that I am gaining the most from this.

I have lost $$$ in Forex, but I have gained much in discipline and a better thinking process. In the end I will have the better thinking process and the money back, so I don't even look at it as a loss - Rather a loan that I will be repaid on with interest.

One of the big jems that i got was when making a trade ask “Is there an opportunity for profit, or is this trade to avoid missing an opportunity”. If it’s the latter, then it is not a good trade.
  • #10,368
  • Nov 17, 2011 1:37pm Nov 17, 2011 1:37pm
Quoting Blobik
Tell me about that, I was considering getting to 100$ as a pullback Looks like doom today. But knowing my luck, if I switched short the armageddon would get cancelled due to some super-duper news from Eurozone

Either way, the rule is, if you don't have money, don't trade. As simple as that... And I currently lost too much, so I don't have money. Hard decision, but seems the time is up.
Well, Blobik, for what it is worth, I ran my first account down to 1% of its original value. That took about 2 months. Then I played with the remaining 1% for 4 months. I increased my account by 800% from that low. Which really meant I was still down by 92%.

But by now I had some confidence and I increased my account back to its original size. Now I am up 80% over the last 3 months.

But it is a lot of work. I am at it 6 days a week for about 10 hours a day. And still, there is so much more to learn. I had no idea. And I am still about 5% in the hole counting my first account.
Kill the ego, or it will kill the mission.
  • #10,369
  • Nov 17, 2011 1:37pm Nov 17, 2011 1:37pm
Watch out 3380
If there was easy money lying around,no one would be forcing it into your
  • #10,370
  • Nov 17, 2011 1:39pm Nov 17, 2011 1:39pm
Quoting AaronWard
Well, Blobik, for what it is worth, I ran my first account down to 1% of its original value. That took about 2 months. Then I played with the remaining 1% for 4 months. I increased my account by 800% from that low. Which really meant I was still down by 92%.

But by now I had some confidence and I increased my account back to its original size. Now I am up 80% over the last 3 months.

But it is a lot of work. I am at it 6 days a week for about 10 hours a day. And still, there is so much more to learn. I had no idea.
Maybe you found something value from losing
If there was easy money lying around,no one would be forcing it into your
  • #10,371
  • Nov 17, 2011 1:41pm Nov 17, 2011 1:41pm
Quoting lumesh
......ADD: euro struggles heavily not to trip the stops below 3450...comee ooon give me 3445
the euro is defending the mid 34 range.......... as well as England did against Spain.. :-)

Is there negative news due out about the US Supercommittee?
patience is a virtue
  • #10,372
  • Nov 17, 2011 1:42pm Nov 17, 2011 1:42pm
Quoting FXMindset
Maybe you found something value from losing
Yup, losing sucks. And it pays to do whatever it takes to stop.
Kill the ego, or it will kill the mission.
  • #10,373
  • Nov 17, 2011 1:44pm Nov 17, 2011 1:44pm
Quoting michaelnew
yeah, but somehow I think this is not our call, looks like some big guys fighting over something there... My option is to leave my shorts running, with a TP @ 1.3880. It may be hit during the next hours, or during the night, or tomorrow. But the major trend is down.
Yeah that's why I'm only looking at short options. So for me based on that pattern I will be looking for breakout pull backs through the lower trend line, and reversals off the high.

I'm in no rush to place trades though. Already had a fantastic week this week. Doubled my account.
  • #10,374
  • Nov 17, 2011 1:46pm Nov 17, 2011 1:46pm
Quoting picon1
I'm in no rush to place trades though. Already had a fantastic week this week. Doubled my account.
Congrats on that one
  • #10,375
  • Nov 17, 2011 1:48pm Nov 17, 2011 1:48pm
Quoting Islander
Good Afternoon Sņr Alorente - its good to find another short term trader in this excellent thread

I too have been selling this nice ~40 pip range ~the R1 level and have just closed my last as it finally broke and hit my wider target at the Daily Pivot - a profitable afternoon and so I've just opened a nice bottle of Viņa Pomal as my just reward
Interesting. We both caught the exact same three entry points.
Observation is the path to discovery.
  • #10,376
  • Nov 17, 2011 1:48pm Nov 17, 2011 1:48pm
of course....break to the upside

now, SP500 pare all todays losses as well ....that would be nice...NOT
  • #10,377
  • Nov 17, 2011 1:53pm Nov 17, 2011 1:53pm
Quoting PipTrapper
Don't forget the upcoming events which have the potential of further risk aversion going into the weekend.

--Friday, Nov. 18: EUR1.3 billion of Greek T-bills mature. IMF/EU officials expected to conclude two-week quarterly evaluation of Portugal's bailout program implementation.

--Sunday, Nov. 20: Spain holds general election.

ADD: Alorente and Islander, please put your personal political preferences aside and vote for the government that will be more likely to cause the Spanish yields to rise to 10%
I would like to please you with your request, but I hold a US passport. Will certainly vote against Obama next year though, no matter who is the candidate on the other side.
Observation is the path to discovery.
  • #10,378
  • Nov 17, 2011 1:57pm Nov 17, 2011 1:57pm
Quoting Blobik
TP on one of my orders missed less than a pip and my SL got hit instead Dunno If this was bad trade or bad luck... Bad day.
EDIT: Oh, actually it was 2 pips. Still, this is really annoying one.
Thatīs why I donīt use TP. Itīs better to exit the trade manually than to rely on a number being hit.
Observation is the path to discovery.
  • #10,379
  • Nov 17, 2011 2:00pm Nov 17, 2011 2:00pm
Quoting Alorente
Thatīs why I donīt use TP. Itīs better to exit the trade manually than to rely on a number being hit.
yeah, do it either manually or trail it closely.
  • #10,380
  • Nov 17, 2011 2:01pm Nov 17, 2011 2:01pm
Quoting Alorente
I would like to please you with your request, but I hold a US passport. Will certainly vote against Obama next year though, no matter who is the candidate on the other side.
Mark ... Everything you have been told is a LIE
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