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EurAnalysis Kindergarten 24 replies

Attachments: EurAnalysis
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EurAnalysis

Quoting Tom_D_Trader
Ok my TP is 332. Low is 3319,6 + 1,5 spread = 3321,1. Missed by 1,1 pip. But I dont mind, I will close it next week, or week after, somwhere in the darkness below 1,3.
...
Just for the fun of it. Onanda is twisting technicals again. I have seen it several times. I think they are adjusting technical indicators this way. Anyway, I have posted this yesterday. And today, the same candle shows 3320,4. Just think about it. Technicals suck.

T.
"I know one thing, that I know nothing." Sokrates
Quoting PipTrapper
If we break the bottom, next stop is 1.3260/70 area
I really dont think we will. my wedge shall remain undaunted !! We´ll see...
Observation is the path to discovery.
Quoting AaronWard
I'm probably over 10,000 for the month with another 2700 floating. But I am guessing that my 10,000 is a lot less money than 100 of your pips. Lots and lots of little positions add up to a lot of pips but not so much money. I close about 50 a day. But still, it has been a good month.

I don't get how you guys calculate your pips

a pip is a pip no matter how much you risk on a trade...

The NET pip amount is the important number that actually shows your real activity towards markets.

Otherwise you can cut your positions down to 0.01% leverage, hit 100 short orders, take 100 net pips profit and say woilaaa i made 10 000 pips ...

So, cut that 10 000 level down AaronWard...If it were net pips you'd be the best trader in the world.
Quoting Tom_D_Trader
We may get sellof, we may not, I dont care. I take partial profit at ,332.

Good luck to the rest of you,

T
Tom, a little advice. When you put your TP at a pivot, it will not trigger unless price actually breaks through. If the counter traders bounce it up, you will not manage to take your green pips. For this reason, when I use TPs, I always set them around 8 to 12 pips away from the pivot.
Those who say it cannot be done should not interrupt those who are doing it
Quoting PipTrapper
Tom, a little advice. When you put your TP at a pivot, it will not trigger unless price actually breaks through. If the counter traders bounce it up, you will not manage to take your green pips. For this reason, when I use TPs, I always set them around 8 to 12 pips away from the pivot.
again, good order flow thinkin'
Well, the wedge is still there, even if eur drops to 1,3280-1,3300
Quoting lumesh
Otherwise you can cut your positions down to 0.01% leverage, hit 100 short orders, take 100 net pips profit and say woilaaa i made 10 000 pips ...
Well thats a great way. Not such an extreme ofc. But this way you can take several partial profits on the way down. One profit at each support. I usually open three trades at each ressistance and then set three levels of TP. If price moves down 100 pips and I close em all I made 300. Thats it.

T
"I know one thing, that I know nothing." Sokrates
Quoting josechu
Well, the wedge is still there, even if eur drops to 1,3280-1,3300
Yes, but no... We need this double bottom to hold.
Observation is the path to discovery.
Quoting Alorente
I really dont think we will. my wedge shall remain undaunted !! We´ll see...
1.3270 does not violate your wedge. Besides, even if it violates it, it means nothing unless the h1 or h4 candle closes below it.
Those who say it cannot be done should not interrupt those who are doing it
Quoting PipTrapper
Tom, a little advice. When you put your TP at a pivot...
Yes you are right. The reason why I set it here is because I have support zone marked as 3318 - 3324. (I aint sure with 3324 here as I dont have my charts at work, but 3318 is for sure).

T
"I know one thing, that I know nothing." Sokrates
Quoting PipTrapper
1.3270 does not violate your wedge. Besides, even if it violates it, it means nothing unless the h1 or h4 candle closes below it.
Technically you are right, but I need to see a clean double bottom here, followed by a strong close, followed by a strong Japanese session for my scenario to be fully in the works.
Observation is the path to discovery.
Quoting Alorente
Technically you are right, but I need to see a clean double bottom here, followed by a strong close, followed by a strong Japanese session for my scenario to be fully in the works.
Understood
Those who say it cannot be done should not interrupt those who are doing it
Quoting Tom_D_Trader
Well thats a great way. Not such an extreme ofc. But this way you can take several partial profits on the way down. One profit at each support. I usually open three trades at each ressistance and then set three levels of TP. If price moves down 100 pips and I close em all I made 300. Thats it.

T

No, you made 100 pips, that's my point. And depending on your leverage it amounts to the equation of Leverage x 100pips...that's what really matters...and it's best way to analyse yourself and perhaps others analyse you.

If you open 3 trades then you take the average entry price of those 3 and average exit....weight that with the leverage you took on each trade and you get a TRUE pip amount.

Of course, everyone can calculate whatever way he pleases but i'm just pointing to a "reality check" when you are saying that you made 10000 pips/ month...you didn't.
You must admit that this is funny.

That green line is my TP .
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"I know one thing, that I know nothing." Sokrates
damn shoulda took my 75 pip gain when i had the chance, got stopped out with a 3 pip gain grrrrrrr.
Quoting lumesh
I don't get how you guys calculate your pips

a pip is a pip no matter how much you risk on a trade...

The NET pip amount is the important number that actually shows your real activity towards markets.

Otherwise you can cut your positions down to 0.01% leverage, hit 100 short orders, take 100 net pips profit and say woilaaa i made 10 000 pips ...

So, cut that 10 000 level down AaronWard...If it were net pips you'd be the best trader in the world.
Not really. Everybody seems to think that all pips are created equal. Scalping in one direction with a very small leverage in a trend or in a ranging market and no stoploss means it is very possible to maintain near 100% success rate. The small leverage means that your risk of a margin call is very small. Some of these may be duplicate positions. on the closed, but on the 2700 floating... no.

This shows about 40% of what I closed yesterday. A number of the positions are for several hundred pips. You will see some duplication in the entry price but not that much. Most of the duplication comes from the fact that that I usually close my positions in two steps.

Seriously, this is my throwaway account on which I am practicing my entries. My game plan is to get my skills up so I can play with much larger lot sizes and possibly a very tight stoploss.

All pips are not created equal.
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Quoting Alorente
Technically you are right, but I need to see a clean double bottom here, followed by a strong close, followed by a strong Japanese session for my scenario to be fully in the works.

wow...and all that purely from a technical analysis ? Let's see how it turns out.
Quoting Alorente
Technically you are right, but I need to see a clean double bottom here, followed by a strong close, followed by a strong Japanese session for my scenario to be fully in the works.
Price is really flirting with that support. Bulls are weak. It's a close call. I am on the edge of my seat waiting for a pop either way.
Those who say it cannot be done should not interrupt those who are doing it
Quoting lumesh
And depending on your leverage it amounts to the equation of Leverage x 100pips...that's what really matters...and it's best way to analyse yourself and perhaps others analyse you.
This was my exact point. Money = pips X leverage. But 10,000 pips is still 10,000 pips.

The three ways you can discuss your success or failure are a) pips b) return on account and c) money.

Of the three, pips is the least valid in my opinion. But it is what is most commonly used.
Quoting lumesh
No, you made 100 pips, that's my point...
Erhmm, I dare to disagree. I just dont see the way how to explain it to you, because in some aspect, you are right. But the other aspect prevails imo. Percentage aspect.

You see, while you choose to leverage more in one big trade it is the same like entering several smaller positions with lesser leverage. So in fact your point is to leverage like moron and do a single big trade in order to proove your pip count, or just count it this way.That is nonscence. Your effectivity doesnt depend on size of your account but on percentage of profit. And you can reach 10% profit with 10000 pips or with 10 pips. This doesnt matter. If Aaron has bambillion USD on his account and closes thousands of nanolots, reaping 2% of his equity he just made thousands of pips and 2%.

I have made 300 pips if I closed 3 positions for 100 pips whether you like it or not .

Btw, I finally got hit 366 pips profit. This time it is net, as I closed only one trade.

T.
"I know one thing, that I know nothing." Sokrates
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