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  • #574,201
  • Dec 13, 2011 11:16am Dec 13, 2011 11:16am
Quoting Yuchen
I had a bad trade yesterday to long EU at 1.3239 with s/l at 1.3139. which was 1.03% of my account balance. It again proved my against the major trend trade is a wrong idea. I had a few opportunities to cut my loss for around 40 pips loss but i didnt cut it although i was realized it was wrong.. what a bad psychology and poor decision...

My next plan is short EU at 1.3140 with s/l at 1.3180 (will risk around 0.4% of my account balance), if this trade got s/l again, then i would stop trading for this week and wait for next week. ...
Sorry about that yuchen. Taking a break is good. But try to just move on to the next trade. You never can tell what trade will win or loose until you bet. If it hits, just try again. Or better still, wait 15 to 30 mins after the direction picks momentum. Trust me, you won't miss more than 50pips.
Don't just beat the markets, leave bruises.
  • #574,202
  • Dec 13, 2011 11:17am Dec 13, 2011 11:17am
Quoting Tellerton
...uhhh, no flame-outs please.

Just watch the rat. Know the rat. Trade the rat.

BE the rat.
Oh, and if you'd really like to help re-capitalize your local TBTF bank: GO LONG!!!!
  • #574,203
  • Dec 13, 2011 11:21am Dec 13, 2011 11:21am
levels
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looking for investors . pm me
  • #574,204
  • Dec 13, 2011 11:23am Dec 13, 2011 11:23am
Quoting daemon_delux
When's the FOMC?
In 2 hours 20:15 GMT +1. I think it is 2:15 PM NY time. FOMC statements are always in the same hour.

Edit: Btw it is written in FF callendar.

T
"I know one thing, that I know nothing." Sokrates
  • #574,205
  • Dec 13, 2011 11:24am Dec 13, 2011 11:24am
Quoting kbmoonshinex
i see you played nice. good luck
Right back at ya!

Quoting Tellerton
...uhhh, no flame-outs please.

Just watch the rat. Know the rat. Trade the rat.

BE the rat.
I very much like this rat analogy! Keep it up!

Quoting Motion
I can't help but picture some series of accounts that will be wiped again today considering the fiber this volatile before the FOMC.

And about the person getting on your nerves, I apologize on his behalf and please let the thread just continue running peacefully. Thanks mate.
Nothing to apologize here mate. I am not here to be primitive. Great setups to all!
  • #574,206
  • Dec 13, 2011 11:26am Dec 13, 2011 11:26am
  •  duca
  • | Joined Dec 2011 | Status: Investing is simple, but not easy | 409 Posts

I go, I go back to the Asian session to make scalping calm to 5 minutes
hello all
give 1 and get 100
  • #574,207
  • Dec 13, 2011 11:27am Dec 13, 2011 11:27am
take a couple of hours off and come back to a 120 pip winner..

great when it all comes together so nicely
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  • #574,208
  • Dec 13, 2011 11:28am Dec 13, 2011 11:28am
Would be interesting if they change the interest rate now. It's at 0.25 since 3 years almost, since 12/16/2008. I smell something...

Be prepared guys
  • #574,209
  • Dec 13, 2011 11:29am Dec 13, 2011 11:29am
Quoting MaxDoom
take a couple of hours off and come back to a 120 pip winner..

great when it all comes together so nicely
Great trade max glad i had a BE +1
"Pippin aint easy"
  • #574,210
  • Dec 13, 2011 11:30am Dec 13, 2011 11:30am
Quoting kbmoonshinex
levels

You mate, 1,3055? where is this one from...I only have 1,2970..well, also 1,3015 there.
  • #574,211
  • Dec 13, 2011 11:31am Dec 13, 2011 11:31am
Quoting JeremyWS
Could be seeing a formation of a morning star on hourly, could be good for a bounce/short covering. We are massively oversold - read about it here -

http://tinyurl.com/6pyn9d3

Would appreciate any feedback thanks.
There is a possibility of it forming IF the current hour closes bullish around 3140. And even if it did, I wouldn't trust it because in this case it's not as potent as if it did formed in a downtrend. The previous bearish thrust candle from 3201 to 3084 broke out of a range which is also a bear flag.

They don't usually reverse right away after breaking out of range like that.
Keep in mind that the bearish flag pole is around 270 pips wide. So if you'd take the pole into consideration of where this down move is going to stall/reverse from the initial breakout, then that price will be around 1.2891

Coincidentally, the monthly pivot support is at 1.2847
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Thank You
  • #574,212
  • Dec 13, 2011 11:37am Dec 13, 2011 11:37am
Quoting 21vs7
I very much like this rat analogy! Keep it up!
Thank you.

The usual admonitions about fading and getting out before you margin out don't seem to work for new traders, so I though I'd try something visual.

EG: if you (and bunch like you) stand in front of a rat and throw cheese (a stop) over your shoulder, don't be surprised when it turns and runs right over top of you to make a meal of it!
  • #574,213
  • Dec 13, 2011 11:43am Dec 13, 2011 11:43am
.
looking for investors . pm me
  • #574,214
  • Dec 13, 2011 11:45am Dec 13, 2011 11:45am
Quoting 21vs7
You mate, 1,3055? where is this one from...I only have 1,2970..well, also 1,3015 there.
2010/12/19 weekly low. today my plan finish. tomorrow i will add my plan here
looking for investors . pm me
  • #574,215
  • Dec 13, 2011 11:51am Dec 13, 2011 11:51am
Quoting kbmoonshinex
2010/12/19 weekly low. today my plan finish. tomorrow i will add my plan here
Ok thanks, see it now..

Good luck
  • #574,216
  • Dec 13, 2011 11:57am Dec 13, 2011 11:57am
Quoting Tom_D_Trader
In 2 hours 20:15 GMT +1. I think it is 2:15 PM NY time. FOMC statements are always in the same hour.

Edit: Btw it is written in FF callendar.

T
Thanks Tom, didn't think of seeing the FF calendar, am very tired. New lab equipments came today, so I had to decipher new sampling programs.

Work, work, work.
Please, just slap me around if I'm being silly ...
  • #574,217
  • Dec 13, 2011 11:57am Dec 13, 2011 11:57am
Quoting Motion
Sorry about that yuchen. Taking a break is good. But try to just move on to the next trade. You never can tell what trade will win or loose until you bet. If it hits, just try again. Or better still, wait 15 to 30 mins after the direction picks momentum. Trust me, you won't miss more than 50pips.
Thank you and i will try my best to learn all the mistakes i made
good luck to you and safe trade !
  • #574,218
  • Dec 13, 2011 11:58am Dec 13, 2011 11:58am
And. What about this fibbo retracement on D1?
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  • #574,219
  • Dec 13, 2011 12:03pm Dec 13, 2011 12:03pm
New TL on M5 :nerd:
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  • #574,220
  • Dec 13, 2011 12:07pm Dec 13, 2011 12:07pm
Quoting wormboy
There is a possibility of it forming IF the current hour closes bullish around 3140.
It didn't, so no morning star. You're welcome.

Good luck to all
Thank You
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