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  • #581,641
  • Jan 9, 2012 7:42am Jan 9, 2012 7:42am
Quoting DarkWolF
Couple of EU shorts taken on 5 min charts tonight. First one was taken off locking in some pips as this was my first trade for the night.

Second one currently has a BE in and I am going to let it ride and see how it goes.
I have the same point of view, 5M Head n shoulder chart pattern. good luck..

today market less volatile..
  • #581,642
  • Jan 9, 2012 7:45am Jan 9, 2012 7:45am
Quoting happytrader
hi, how do u handle ur trades? do u enter and walk away? i find it difficult to stick to my plan cos i got nervous when i see signs of reversal here and there... sigh...
1) Lower lot-sizes, larger time-frames.
2) Realistic SL/TP and R:R setups.
3) Be willing to lose your risk and accept your reward.
4) Use support, resistance and trend lines to help define the landscape - ignore all at your peril.
4) Don't move your R:R numbers unless something fundamental has changed.
4b) If something fundamental has changed, close out your trade (in profit or loss) to prevent it rolling back over you if things aren't looking positive to your position.
5) S/L on EVERY trade. No exceptions.
6) If you are risking more than 2% per trade, you might as well be at the casino. At least they subsidise the drinks and have hot girls serving them to you.


Just thinking through #6... BRB, setting up a FOREX desk in Vegas on the strip.
  • #581,643
  • Jan 9, 2012 7:46am Jan 9, 2012 7:46am
Quoting jomelon
I have the same point of view, 5M Head n shoulder chart pattern. good luck..

today market less volatile..
Yep sure is a slow market today.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #581,644
  • Jan 9, 2012 8:01am Jan 9, 2012 8:01am
Quoting samdani786

what broker you use for charting usd and eur index?
thx
fokyou forexfactory
  • #581,645
  • Jan 9, 2012 8:02am Jan 9, 2012 8:02am
Quoting BossTrader
S - 1.2752
out BE
Losses to which we are accustomed affect us less deeply.
  • #581,646
  • Jan 9, 2012 8:04am Jan 9, 2012 8:04am
Quoting samdani786
super mega funny
looking for investors . pm me
  • #581,647
  • Jan 9, 2012 8:04am Jan 9, 2012 8:04am
Quoting DNTme
what broker you use for charting usd and eur index?
thx
forex ltd.
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #581,648
  • Jan 9, 2012 8:05am Jan 9, 2012 8:05am
Quoting kbmoonshinex
super mega funny
Thanks
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #581,649
  • Jan 9, 2012 8:11am Jan 9, 2012 8:11am
hey samdani, you look very young on the pic !

Us-boys are like fallen out of bed. noisy moves...
  • #581,650
  • Jan 9, 2012 8:14am Jan 9, 2012 8:14am
sell euro
  • #581,651
  • Jan 9, 2012 8:15am Jan 9, 2012 8:15am
Quoting JackintheBox
hey samdani, you look very young on the pic !

Us-boys are like fallen out of bed. noisy moves...
LOL Thats my Boy with his teacher at Pre K. Graduation.
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #581,652
  • Jan 9, 2012 8:16am Jan 9, 2012 8:16am
Quoting AlbertR
sell euro
short 59
Trade What You See Not What You Want To See
  • #581,653
  • Jan 9, 2012 8:18am Jan 9, 2012 8:18am
My order filled 1.2680 which is Pivot Point (Monthly S1). SL at BE and TP is at Monthly Pivot Point 1.3120.
Do not follow my trades. Trade what you see on your own charts.
  • #581,654
  • Jan 9, 2012 8:18am Jan 9, 2012 8:18am
nice pic, samdani, I hope I will manage one day to keep family and trading together. Good Job !

short on .59 is ok, could work out, tight SL. I think us open and lots of time needed before a run comes, may be after one hour (?) .
  • #581,655
  • Jan 9, 2012 8:18am Jan 9, 2012 8:18am
Quoting AussieSteve
1) Lower lot-sizes, larger time-frames.
2) Realistic SL/TP and R:R setups.
3) Be willing to lose your risk and accept your reward.
4) Use support, resistance and trend lines to help define the landscape - ignore all at your peril.
4) Don't move your R:R numbers unless something fundamental has changed.
4b) If something fundamental has changed, close out your trade (in profit or loss) to prevent it rolling back over you if things aren't looking positive to your position.
5) S/L on EVERY trade. No exceptions.
6) If you are risking more than...
An addendum on S/L. I never stop loss and only had to stop out once in the last half year. Even if traders are poorly positioned, most trades can be 'sweated' out if you are going with the trend. Counter trading to me is more of a risk than no S/L.

If S/L's are sufficiently spread from the position I suppose it would work. My view is if you are stopping out more than 10% of your trades something is not right. Where do you set your S/L's?

However, I will do zero stops and profits stops.
Taigen Profit This Month: na
  • #581,656
  • Jan 9, 2012 8:21am Jan 9, 2012 8:21am
@taigen: yes, I agree but it's very dangerous and difficult to trade without, I'm still working on it and try to finetune. I have only an SL on 10th time my TP. (secure one).

greets Jack
  • #581,657
  • Jan 9, 2012 8:24am Jan 9, 2012 8:24am
I woke up 45 minutes ago for NY action but think I can go back to sleep because there is no action.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #581,658
  • Jan 9, 2012 8:29am Jan 9, 2012 8:29am
@killerwhale: As I said, I think there will be a drive, but when is the question, can be in 20 minutes or 1,5 hours, that's the problem.
  • #581,659
  • Jan 9, 2012 8:31am Jan 9, 2012 8:31am
  •  orzels
  • | Joined Nov 2011 | Status: Buy at resistance, Sell at support™ | 309 Posts
Quoting KillerWhale
I woke up 45 minutes ago for NY action but think I can go back to sleep because there is no action.
NY starts 14:30 GMT. Minute ago.
  • #581,660
  • Jan 9, 2012 8:46am Jan 9, 2012 8:46am
congrats to the .59 shorters, worked out, no surprise arose, good job !
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