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  • #575,621
  • Dec 16, 2011 3:35am Dec 16, 2011 3:35am
Quoting Nachiket
what is the fun of trading for 5 pips. are u a gambler?
It's what you call trading...I suck @gambling and last time I went to Vegas I stayed for a week and gambled twice...There are fundamentals to this market...Nobody needs to be in trades for 45min+ waiting on the market to move up 70 pips...The market would of moved up and down 5 times with 200 pips in play within that time some of you folks are sitting here waiting for ridiculous outbreaks...I see the WHOLE market but only make maybe 3 trades a day...Again...the only thing that matters is Supply & Demand..
  • #575,622
  • Dec 16, 2011 3:37am Dec 16, 2011 3:37am
not a lot of meat on the bull at the mo...

neither side are killing today
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  • #575,623
  • Dec 16, 2011 3:38am Dec 16, 2011 3:38am
Quoting Cecil Gee
I'm starting shorts now from 1.3019 will add more if it goes higher. Hard stop 1.3090

T/P 1.2825

0uch... closed manually at 33.... -14 pips. not liking it

could go to 3230 area
  • #575,624
  • Dec 16, 2011 3:42am Dec 16, 2011 3:42am
Quoting Cecil Gee
0uch... closed manually at 33.... -14 pips. not liking it

could go to 3230 area
Not to point you out...but this is a prime example of what I am talking about...He took shorts 14 hours ago just to come back and see the market is damn near in the same place he left it....Now go down to a smaller time frame and look@ the swings and ALL the pips that were at play while market was ranging...Market ranges MOST of the time so it just made sense to create a system that is in flow with it...When breakouts occur...I'm out the market and sometimes ill take a few trades but not normally...
  • #575,625
  • Dec 16, 2011 3:44am Dec 16, 2011 3:44am
Quoting theIEguy9_09
Not to point you out...but this is a prime example of what I am talking about...He took shorts 14 hours ago just to come back and see the market is damn near in the same place he left it....Now go down to a smaller time frame and look@ the swings and ALL the pips that were at play while market was ranging...Market ranges MOST of the time so it just made sense to create a system that is in flow with it...When breakouts occur...I'm out the market and sometimes ill take a few trades but not normally...

more to the point he didn't stick to his trading plan - jumping out at -14 pips!! what was the plan?
  • #575,626
  • Dec 16, 2011 3:45am Dec 16, 2011 3:45am
Quoting MaxDoom
not a lot of meat on the bull at the mo...

neither side are killing today
And the inventor of the word 'range' rests happily in his grave (if hes dead).

Anyways i see more bulls than bears for today but ive got nothing clear.
  • #575,627
  • Dec 16, 2011 3:45am Dec 16, 2011 3:45am
Quoting kibescorp
The bulls are now extinct. The future will consist only of selling ... followed by consolidation ... followed by more selling.
Agreed . I dont think we are in bullish mode , I think we will be going down after the range ends !!!!!!!!!!
Human
  • #575,628
  • Dec 16, 2011 3:46am Dec 16, 2011 3:46am
Quoting 21vs7
DAX closed the GAP...1/1

Now we should break down to 5.692 and stay there for about 3 hours....and later on in NY fall for another 200 points down to make friday simplier.
This is still in play as I look it now...Ill sell another portion of little piggie bastards!
  • #575,629
  • Dec 16, 2011 3:46am Dec 16, 2011 3:46am
Quoting MaxDoom
more to the point he didn't stick to his trading plan - jumping out at -14 pips!! what was the plan?
Plan isn't point...if your plan is not in sync with what the market does MOST of the time then your wasting your life sitting @ a computer desk...14 hours he waited just to go out negative and get hit with a swap fee...
  • #575,630
  • Dec 16, 2011 3:48am Dec 16, 2011 3:48am
Quoting theIEguy9_09
Plan isn't point...if your plan is not in sync with what the market does MOST of the time then your wasting your life sitting @ a computer desk...14 hours he waited just to go out negative and get hit with a swap fee...
Not saying any of this to talk shit either...I've been there and done that and have been FURIOUS!! When market F*CKS us its time to go back to the drawing board and make changes...IMO of course
  • #575,631
  • Dec 16, 2011 3:50am Dec 16, 2011 3:50am
Quoting theIEguy9_09
Plan isn't point...if your plan is not in sync with what the market does MOST of the time then your wasting your life sitting @ a computer desk...14 hours he waited just to go out negative and get hit with a swap fee...

completely disagree with that.

Firstly every trade should have a plan - entry point SL TP AND a decision tree that would make you abort the trade early if that is an option you want in your plan. If you cut early for no reason you often miss the winners and make them losers.

Second, trading is not about individual trades, it is about the average of your trades being sufficiently positive to justify trading for hobby or living. You can only assess your success at this if you follow a plan.

you can't assess and repeat gut shot decisions because you won't know what made you do it to be able to repeat..
  • #575,632
  • Dec 16, 2011 3:55am Dec 16, 2011 3:55am
Quoting MaxDoom
completely disagree with that.

Firstly every trade should have a plan - entry point SL TP AND a decision tree that would make you abort the trade early if that is an option you want in your plan. If you cut early for no reason you often miss the winners and make them losers.

Second, trading is not about individual trades, it is about the average of your trades being sufficiently positive to justify trading for hobby or living. You can only assess your success at this if you follow a plan.
I think your not getting what I'm saying....He had a game plan but it failed...now he must figure out why...Nobody should be sitting in a trade watching their money fluctuate for a breakout that was never going to happen...I notice that there are a lot of analyst in here and barely any real traders...If my thinking is in sync with the majority of the people in this thread then we have a problem charlie...just my 2 cents...Oh and that is your opinion on trading not mines or any of the millionaires I know that are doing this.
  • #575,633
  • Dec 16, 2011 3:58am Dec 16, 2011 3:58am
Quoting theIEguy9_09
I think your not getting what I'm saying....He had a game plan but it failed...now he must figure out why...
When you get stopped out you actually study the trade to see what went wrong?
  • #575,634
  • Dec 16, 2011 3:58am Dec 16, 2011 3:58am
Quoting theIEguy9_09
I think your not getting what I'm saying....He had a game plan but it failed...now he must figure out why...Nobody should be sitting in a trade watching their money fluctuate for a breakout that was never going to happen...I notice that there are a lot of analyst in here and barely any real traders...If my thinking is in sync with the majority of the people in this thread then we have a problem charlie...just my 2 cents
did it fail? he didn't follow it through
  • #575,635
  • Dec 16, 2011 3:59am Dec 16, 2011 3:59am
Some newsen now, lets hope.
  • #575,636
  • Dec 16, 2011 4:02am Dec 16, 2011 4:02am
Quoting MaxDoom
did it fail? he didn't follow it through
Well clearly it failed...sat in a trade for 14 hours with no results...actually the market has only touched the 1.30 level once or twice since yesterday..I seen yesterday that the trade he was making was crazy but I kept it to myself...I wish I would of said something to him could of saved a few duckets
  • #575,637
  • Dec 16, 2011 4:02am Dec 16, 2011 4:02am
Quoting 2+2=4ex
When you get stopped out you actually study the trade to see what went wrong?
Lol is that sarcasm or are you serious?
  • #575,638
  • Dec 16, 2011 4:03am Dec 16, 2011 4:03am
i just back to home , did Draghi finished ?
Mohan
  • #575,639
  • Dec 16, 2011 4:04am Dec 16, 2011 4:04am
no good news today for euro

more crap for banks

analysts giving talks on euro to go lower

some russian dude (very rich) saying euro must significantly lower to allow the euro crisses to stand a chance of being fixed.

oil and indicies starting to pull back again
  • #575,640
  • Dec 16, 2011 4:07am Dec 16, 2011 4:07am
Quoting theIEguy9_09
Lol is that sarcasm or are you serious?
Dunno he sounds pretty serious to me. I totally agree with him. 'When u get stopped out its the markets fault'. Always. Write that down. Every good plan should begin with this statement.
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