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  • #568,341
  • Nov 30, 2011 11:40pm Nov 30, 2011 11:40pm
Quoting mpurdy1973
i was long the audusd today so i made a quick 200 pips in 5 minutes; however, i wouldnt have wanted to be short at 8am EST without a stop loss and being highly leverage... it would have been very painful (unless you are trading small lots and plan for 200-300 losses.

for instance (i trade for on the side - not my day job; currently i am long the audusd with 10 mini lots with only 2500 balance in my account ... i do that with a very small stop until i can get my stop lost at break even - now i am up 250 bucks which is about 10% profit - very nice;...
yes, brokers love traders with no stop loss, canon fodder
If you are new to Forex? Say Goodbye to your account!!
  • #568,342
  • Nov 30, 2011 11:56pm Nov 30, 2011 11:56pm
Quoting micho
what happened yesterday? i told you EURUSD is long 2 days ago... there is nothing extraordinary
because we were long EU yesterday the news was really good for was.. Well, i admit i thought to long EU due based on a 4H chart, but still, a quick 200 pips move in 5 mins is an extraordinary move....
i am sure some traders sell it around 3350 yesterday and if they were thinking about to manually closed around 50-60 pips loss, they may unable to close it due to that jump, well, luckly they may still have the chance to close to cut their loss at 3420-30 a few hours ago but there's a habit for some traders that they dont close unless they are in profit or they have very small loss..
but again, as long as it works well for you it is all good cause you are a relative better trader than a lot traders such as you are better to follow the trend so you usually dont have risk to hold large floating loss position or have high determination to manually close it. however, i am sure 95% traders especially new traders will blow their accounts if they dont use s/l and that's why i suggest people use s/l.
  • #568,343
  • Dec 1, 2011 12:09am Dec 1, 2011 12:09am
Quoting micho
what happened yesterday? i told you EURUSD is long 2 days ago... there is nothing extraordinary
do you get it right 100%?
  • #568,344
  • Dec 1, 2011 12:35am Dec 1, 2011 12:35am
Quoting micho
what happened yesterday? i told you EURUSD is long 2 days ago... there is nothing extraordinary
Don't use pure luck as your strategy. Without CB"s actions we would probably be filling the GAP from last weekend now.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #568,345
  • Dec 1, 2011 12:50am Dec 1, 2011 12:50am
yesterdays big upswing took away many traders who were short.
  • #568,346
  • Dec 1, 2011 12:52am Dec 1, 2011 12:52am
Quoting KillerWhale
Don't use pure luck as your strategy. Without CB"s actions we would probably be filling the GAP from last weekend now.

exactly. without the central bank action this euro would have been lingering around 1.32. it can still go there by tomorrow. i expect anti-climax in the euro movie today or tomorrow. may be the villian in germany has yet to woke up.

  • #568,347
  • Dec 1, 2011 12:55am Dec 1, 2011 12:55am
Quoting Nachiket
exactly. without the central bank action this euro would have been lingering around 1.32. it can still go there by tomorrow. i expect anti-climax in the euro movie today or tomorrow. may be the villian in germany has yet to woke up.

Not very likely, it might linger a few days.
We'll see in an hour what pre-market S&P will be like, it is -2 at the moment
New voice message: Why are you calling me? If I need you, I'll call you!
  • #568,348
  • Dec 1, 2011 12:59am Dec 1, 2011 12:59am
Quoting KillerWhale
Not very likely, it will linger a few days.
We'll see in an hour what pre-market S&P will be like, it is -2 at the moment

looks like another strong wave will kill your optimism and the take the killer whale to a dead whale
  • #568,349
  • Dec 1, 2011 1:00am Dec 1, 2011 1:00am
Quoting KillerWhale
Not very likely, it might linger a few days.
We'll see in an hour what pre-market S&P will be like, it is -2 at the moment
i feel my 15 min chart is making a buy signal setup...any suggestions?
  • #568,350
  • Dec 1, 2011 1:01am Dec 1, 2011 1:01am
Quoting Cloudz9
i feel my 15 min chart is making a buy signal setup...any suggestions?
nah...still not...
  • #568,351
  • Dec 1, 2011 1:03am Dec 1, 2011 1:03am
If Germany doesn't pay the debts of the indebted countries, the euro will break apart! I have been selling the euro for the last 7-8 months and it's going well...
The nex days could be really profitable for the ones that know what they are doing...
go go go
  • #568,352
  • Dec 1, 2011 1:06am Dec 1, 2011 1:06am
Quoting @40
If Germany doesn't pay the debts of the indebted countries, the euro will break apart! I have been selling the euro for the last 7-8 months and it's going well...
The nex days could be really profitable for the ones that know what they are doing...
hmmm...so u mean only sell when it goes up..
  • #568,353
  • Dec 1, 2011 1:08am Dec 1, 2011 1:08am
Quoting Cloudz9
i feel my 15 min chart is making a buy signal setup...any suggestions?
I would wait for London opening
New voice message: Why are you calling me? If I need you, I'll call you!
  • #568,354
  • Dec 1, 2011 1:10am Dec 1, 2011 1:10am
Quoting Nachiket
looks like another strong wave will kill your optimism and the take the killer whale to a dead whale
Lol, just google the death cause of killer whales, you'll find it is old age nearly 100%
New voice message: Why are you calling me? If I need you, I'll call you!
  • #568,355
  • Dec 1, 2011 1:11am Dec 1, 2011 1:11am
Quoting Cloudz9
hmmm...so u mean only sell when it goes up..
Yes, the only thing I do...
go go go
  • #568,356
  • Dec 1, 2011 1:16am Dec 1, 2011 1:16am
Quoting @40
Yes, the only thing I do...
just a question...why not to make money when its going up and we have the right setup for buying too..? wouldnt that be right?
  • #568,357
  • Dec 1, 2011 1:19am Dec 1, 2011 1:19am
Quoting KillerWhale
Lol, just google the death cause of killer whales, you'll find it is old age nearly 100%
yeh killer whales are top dog they covered them on frozen planet on bbc, there is even vegetarian killer whales, what i mean by that, they don't kill other whales, they only eat fish, going a bit of topic, wonder if we have fake out here on M5 before london open
  • #568,358
  • Dec 1, 2011 1:22am Dec 1, 2011 1:22am
Quoting Cloudz9
just a question...why not to make money when its going up and we have the right setup for buying too..? wouldnt that be right?
I just try to trade with the most probable direction... I also expect the euro to break apart... Why should I buy it?
go go go
  • #568,359
  • Dec 1, 2011 1:44am Dec 1, 2011 1:44am
I am a buyer for 1.3475

Break-out scalp, 5 for stop 5 or 10 for target...


http://img40.imageshack.us/img40/8255/eu01122011.gif

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  • #568,360
  • Dec 1, 2011 1:50am Dec 1, 2011 1:50am
You just sent me a PM stating that you do 9 out of 10 trades and try to sell me your system and catch every news event release... and now you dont know what happened.

be careful, Twee loves that ban button!

Quoting subhanwaheed
PLease someone tell me that after these several nzd news releases,the rate of nzd/usd should have been increased but instead of increasing,it showed a huge downfall....why that happened?
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