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  • #565,701
  • Nov 24, 2011 9:22am Nov 24, 2011 9:22am
Quoting Alexone
Of course! Always nice to add to losing positions, right? Instead of thinking how much ure going to win if all 3 of ur positions get filled think about how much ure gonna lose if they all get filled and price goes against u. Adding to losing positions and not using SL...man ure going places.
Since I have been averaging about 2% a day, I suppose I am going places. Thanks for your insight.
Taigen Profit This Month: na
  • #565,702
  • Nov 24, 2011 9:23am Nov 24, 2011 9:23am
Quoting Forexia
Why has E/U dropped like 50+ pips? b/c Angela Merkel said she doesn't believe in joint Eurobonds? Is this another news-driven whipshaw?

Did anybody get any pips?
Yah, if you were long like me, its to bad they took questions from the press, the prepared summit statement had no impact, the speeches, no impact, Merkel answering questions, Euro and European markets turn negative. lol
Yay! Pips for everyone!
  • #565,703
  • Nov 24, 2011 9:24am Nov 24, 2011 9:24am
Quoting Pipsforall
Yep, unreal how quickly the Euro and European markets tanked as soon as Merkel opened up her mouth, but, considering this drop is merkel stupid comment related, and we're sitting at extremely oversold conditions in the euro, european and us markets, I think once the market digests her stupid comments, the technical corrective rally will continue before the euro really makes some major new lows, I still like high 1.340s next week.
Especially considering it's a US bank holiday today. This is ridiculous. There must be some jumpy European traders out there.
Make your losses in demo. Earn your profits live.
  • #565,704
  • Nov 24, 2011 9:25am Nov 24, 2011 9:25am
watching developments closely for the close short temporarily.bear continue & up or bull then down as false break it's recent habits .even to do breaks 3345 for 3360 to look down next for more down if .
fontu
Attached Image (click to enlarge)
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #565,705
  • Nov 24, 2011 9:28am Nov 24, 2011 9:28am
had some order done on GBPUSD...will leave eurusd for now...

on eurusd 42 still not decided.
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  • #565,706
  • Nov 24, 2011 9:28am Nov 24, 2011 9:28am
Quoting Shady313
Thank you. Ho do you mean? 1.33420 and 1.33230?

And If I close my sell postion for example will be my margin enough for buy?

Thanks again
Yes I mean as you say 1.33420 etc. No it won't be immediately until it goes a bit in the right direction. However seriously, try to get both trades closed completely before trading again. If you close the sell and start buying then if things go against you the account will blow up.
  • #565,707
  • Nov 24, 2011 9:29am Nov 24, 2011 9:29am
Quoting Taigen
Since I have been averaging about 2% a day, I suppose I am going places. Thanks for your insight.
Nice! Since when 3 days ago? In any case get ready for that 100% drawdown in a day. It's coming.
  • #565,708
  • Nov 24, 2011 9:31am Nov 24, 2011 9:31am
What happen after EUR closed...who is trading after that since the US is on holiday?
  • #565,709
  • Nov 24, 2011 9:32am Nov 24, 2011 9:32am
Quoting Ultimate6
Yes I mean as you say 1.33420 etc. No it won't be immediately until it goes a bit in the right direction. However seriously, try to get both trades closed completely before trading again. If you close the sell and start buying then if things go against you the account will blow up.
Oh no I really did mean close 1.34200 the long.
  • #565,710
  • Nov 24, 2011 9:32am Nov 24, 2011 9:32am
Quoting multi888
What happen after EUR closed...who is trading after that since the US is on holiday?
Only North America, many other exchanges open.
  • #565,711
  • Nov 24, 2011 9:32am Nov 24, 2011 9:32am
Quoting Forexia
Especially considering it's a US bank holiday today. This is ridiculous. There must be some jumpy European traders out there.
It was a nice way for them to make some profits taking out stop losses in a very thin market. As I like to say, you take a hot news flash and you throw it in the trash, once the news is digested the trend continues, in this case, I'm long, think the market has some unfinished business at higher price levels before the Euro makes some fresh news lows in the lows 1.30s and ultimately into the 1.20s.
Yay! Pips for everyone!
  • #565,712
  • Nov 24, 2011 9:34am Nov 24, 2011 9:34am
Quoting Pipsforall
Yah, if you were long like me, its to bad they took questions from the press, the prepared summit statement had no impact, the speeches, no impact, Merkel answering questions, Euro and European markets turn negative. lol
I was long, closed 2 out of 3 trades for a loss, hoping the last one will retrace a little so not such a big loss
  • #565,713
  • Nov 24, 2011 9:40am Nov 24, 2011 9:40am
Quoting stinger007
I was long, closed 2 out of 3 trades for a loss, hoping the last one will retrace a little so not such a big loss
Well considering the giant bearish outside bar forming on the 4 hr, that was probably the right move. lol But, its at a swing low, so for me, I wouldn't short it, and I'm staying long, my sl is much lower, so I'm still in my comfort zone.
Yay! Pips for everyone!
  • #565,714
  • Nov 24, 2011 9:41am Nov 24, 2011 9:41am
Quoting Alexone
Nice! Since when 3 days ago? In any case get ready for that 100% drawdown in a day. It's coming.
I admit my history is short. I am going on my third month. Instead of having a pissing contest, in January I will be setting up a Dukascopy account with $2,000. I will then post it on the Trade Explorer so everyone can see my success or failure. I could go down in flames to the delight, I'm sure, of many, or I could maintain a consistent 2% gain as I have been. We'll see.

I don't understand the mindset of those who feel the need to assume the worst in any given scenario. If you were successful, you would be more inquiring on philosophy and approach to the forex market and be comparing your strategies to other successful traders.

Time will tell.

Anyway my friend, I wish you the best.
Taigen Profit This Month: na
  • #565,715
  • Nov 24, 2011 9:43am Nov 24, 2011 9:43am
Quoting fontu
watching developments closely for the close short temporarily.bear continue & up or bull then down as false break it's recent habits .even to do breaks 3345 for 3360 to look down next for more down if .
fontu
shape changed , now looking for 311 to close short & next probable correction towards 3336 before next down or so if not bo by chance to break 3345 .scalpiung within short ranges only though now . fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #565,716
  • Nov 24, 2011 9:45am Nov 24, 2011 9:45am
Quoting Taigen
I admit my history is short. I am going on my third month. Instead of having a pissing contest, in January I will be setting up a Dukascopy account with $2,000. I will then post it on the Trade Explorer so everyone can see my success or failure. I could go down in flames to the delight, I'm sure, of many, or I could maintain a consistent 2% gain as I have been. We'll see.

I don't understand the mindset of those who feel the need to assume the worst in any given scenario. If you were successful, you would be more inquiring on...
I think trading forex need to first think about how to reduce the risk and minize your lost if it is possible then think about how much money you can earn. At least use s/l especially when you plan to keep adding when you are losing, anything is possible in forex and one mistake with no stop can easily erase all your profits
  • #565,717
  • Nov 24, 2011 9:48am Nov 24, 2011 9:48am
Quoting Ultimate6
Oh no I really did mean close 1.34200 the long.

Wow thank you, so you think it will be closed in profit?

Anyway i made successfully sell trades on 1m, and my free margin is at 676 Euro, I hope it really go up and my margin wont blow up.

Thank you again, its really nice from you!

Lot 4 - I dont know why did i choose that... really.... im a newbie...
  • #565,718
  • Nov 24, 2011 9:52am Nov 24, 2011 9:52am
Looking at the EUR/USD chart we can identify the recent bearish 'Death Cross' and the key nearby support levels of 1.3141 (the recent low) and below that the 61.8 Fibonacci retracement of the swing high to low at 1.3047.

http://www.traderslog.com/wp-content...1/eur2day1.jpg

Chart courtesy of Worden
  • #565,719
  • Nov 24, 2011 9:53am Nov 24, 2011 9:53am
Quoting Yuchen
I think trading forex need to first think about how to reduce the risk and minize your lost if it is possible then think about how much money you can earn. At least use s/l especially when you plan to keep adding when you are losing, anything is possible in forex and one mistake with no stop can easily erase all your profits
Yuchen,

I couldn't agree more. You may however, want to look at your SL strategy and determine if it is working for you or against you. In other words, do you often stop out only to see the market turn in your favor? If that happens a lot, then your SL is preventing you from securing profits you would otherwise have rightly earned. SL's are to help you and should only be triggered on surprise moves, not on everyday trading intervals.
Taigen Profit This Month: na
  • #565,720
  • Nov 24, 2011 9:53am Nov 24, 2011 9:53am
Quoting Taigen
I admit my history is short. I am going on my third month. Instead of having a pissing contest, in January I will be setting up a Dukascopy account with $2,000. I will then post it on the Trade Explorer so everyone can see my success or failure. I could go down in flames to the delight, I'm sure, of many, or I could maintain a consistent 2% gain as I have been. We'll see.

I don't understand the mindset of those who feel the need to assume the worst in any given scenario. If you were successful, you would be more inquiring on philosophy and...
I wish u luck what can i say...I dont want to see u go down in flames as much as the next guy. Have nothing against u. Brokers have though.

And if u dont always assume the worst with Forex it only means that u havent traded long enough. Long enough so that the worst may happen to you that is. Think about it...if u assume the worst every trade u will always be prepared. But ure still at the stage where u think that if u will put a trade on, its going to start raining candy and flowers from everywhere. U are eventually going to evolve one way or the other.
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