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  • #593,741
  • Feb 9, 2012 2:39pm Feb 9, 2012 2:39pm
Quoting KillerWhale
Yessssssss! 2 pips already .........................
There may have come new offers later in US session when getting near the close or some buyers taking profit. Stocks still pretty well bid, 30yrs auction did not help dollar, it was a bit soft.

Anyway, pair may drop few pips but will likely bounce again into this 85/95 range.

Only really really bad news will drop this test to 70 and below is somewhat freefall 20 pips
They think they are smarter than I am.
  • #593,742
  • Feb 9, 2012 2:48pm Feb 9, 2012 2:48pm
Quoting Z3iz3i
There may have come new offers later in US session when getting near the close or some buyers taking profit. Stocks still pretty well bid, 30yrs auction did not help dollar, it was a bit soft.

Anyway, pair may drop few pips but will likely bounce again into this 85/95 range.

Only really really bad news will drop this test to 70 and below is somewhat freefall 20 pips
I'll probably get 10-20 pips during Japan session.
Still nice coz my EG pips are always BIG pips and even 4 pips = enough to fill up my car with gas 2 times.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #593,743
  • Edited 3:06pm Feb 9, 2012 2:53pm | Edited 3:06pm
eurousd is sleeping mode.....little bit bear trend...going down...because of newyork session going to end...la la la....i am going to south....la la la(ZZZZ)
follow the flow of music $
  • #593,744
  • Feb 9, 2012 3:18pm Feb 9, 2012 3:18pm
Quoting ganam
eurousd is sleeping mode.....little bit bear trend...going down...because of newyork session going to end...la la la....i am going to south....la la la(ZZZZ)
That is no reason it will go down, though it may have done so several session in a row.

Those who put sell orders at around 82/3 are pretty much underwater depending of cost of spread, first support goes at 78/79...strong at 70/71.

Myself i would avoid trading within 70-80 if price gets there
They think they are smarter than I am.
  • #593,745
  • Feb 9, 2012 3:23pm Feb 9, 2012 3:23pm
Oh this is bollocks.................exited @ 0.0000000001 pips.

Goodnight. Guys.
  • #593,746
  • Feb 9, 2012 3:37pm Feb 9, 2012 3:37pm
hey guys,

hope you guys are doing good. I need some help, I was thinking that EU might re-test 1.324XX and should it break, bearish trend may resume till 1.316XX. however should it fail to break then perhaps, we might see a bullish trend to test 1.334XX.

what do you guys think?
  • #593,747
  • Feb 9, 2012 3:44pm Feb 9, 2012 3:44pm
most ppl here are trading with very strong bias in mind. Once in some position, bias turns into beliefs and wishes. So amusing.
  • #593,748
  • Feb 9, 2012 3:47pm Feb 9, 2012 3:47pm
Long EUR/USD @ 1.3049 TP1 1.3256 CLSD TP2 1.3600 Banked 206 / + 236 on other half
Long GBP/USD @ 1.5820 TP1 1.5930 TP2 1.6150 -5 as of now
Long USD/JPY @ 76.41 TP1 78.83 TP2 81.42 + 108 as of now
Long CAD/JPY @ 77.01 TP1 80.90 TP2 85.07 + 104 as of now






So Far so good



Quoting spillini
Long EUR/USD @ 1.3049 TP1 1.3256 CLSD TP2 1.3600 Banked 206 / + 256 on other half
Long GBP/USD @ 1.5820 TP1 1.5930 TP2 1.6150 +21 as of now
Long USD/JPY @ 76.41 TP1 78.83 TP2 81.42 + 54 as of now
Long CAD/JPY @ 77.01 TP1 80.90 TP2 85.07 + 49 as of now



So Far so good
Please do not vouch for me.
  • #593,749
  • Feb 9, 2012 3:51pm Feb 9, 2012 3:51pm
Quoting aripplet
most ppl here are trading with very strong bias in mind. Once in some position, bias turns into beliefs and wishes. So amusing.
especially if its a losing position with no stop loss and hoping for a recovery only to have it proceed to a direction of no return!
  • #593,750
  • Feb 9, 2012 3:55pm Feb 9, 2012 3:55pm
Quoting Deadpoet87
especially if its a losing position with no stop loss and hoping for a recovery only to have it proceed to a direction of no return!
ya, I've been there million times before . for losing positions, the longer you hold it and pray for it, most of the case it goes worse. I checked my own trade list and others' trade list. It speaks itself.
  • #593,751
  • Feb 9, 2012 3:56pm Feb 9, 2012 3:56pm
I'm still going long ..around 1.3275/85 .. if it break 65 ... i'll give up ...
70 have been testing couple of times today ... it fail to drop ...
Even with Greece news, deal not going through.
I think someone is behind all this, not letting EU drop...

What I see support level are

1.3283
1.3270
1.3243
1.3220
All of these level are kinda strong

Resistance are

1.3300
1.3311
1.3320


Trade with support and resistance ...
Forget about the trend ... it will only kill you ...
Like so many believe EU will fall ... look at it now ...
Almost 700 Pips going up ...
  • #593,752
  • Feb 9, 2012 4:03pm Feb 9, 2012 4:03pm
Quoting aripplet
ya, I've been there million times before . for losing positions, the longer you hold it and pray for it, most of the case it goes worse. I checked my own trade list and others' trade list. It speaks itself.
I'm one of this people ...
Now .. I just set SL and take it like a man
Live another day
Never overleverage
  • #593,753
  • Feb 9, 2012 4:03pm Feb 9, 2012 4:03pm
Quoting aripplet
ya, I've been there million times before . for losing positions, the longer you hold it and pray for it, most of the case it goes worse. I checked my own trade list and others' trade list. It speaks itself.
i guess its something most of us are guilty of. what separates traders and gamblers is the ability to admit defeat in a losing trade. (so cliche!)

however,

it kinda sucks when you close a losing trade only to have it retrace back again.

i believe if it happens too often the case then, one shouldnt be trading but instead re-learn basic concepts over and over again.

I see your trade has been doing well!
  • #593,754
  • Feb 9, 2012 4:08pm Feb 9, 2012 4:08pm
Quoting aarontdang
I'm still going long ..around 1.3275/85 .. if it break 65 ... i'll give up ...
70 have been testing couple of times today ... it fail to drop ...
Even with Greece news, deal not going through.
I think someone is behind all this, not letting EU drop...

What I see support level are

1.3283
1.3270
1.3243
1.3220
All of these level are kinda strong

Resistance are

1.3300
1.3311
1.3320


Trade with support and resistance ...
Forget about the trend ... it will only kill you ...
Like so many believe EU will fall ... look...
I think with all the big boys getting their hands muddled with the market, fundamentals/ news at times do not depict the 'desired outcome' of a market. I realised too that at the end of the day it is just about S/R. if it breaks, it breaks. If it doesnt then dont trade. Sometimes i just wish i have more patience then to do ridiculous trades.

anyway those S/R you mentioned, those are H1?
  • #593,755
  • Feb 9, 2012 4:08pm Feb 9, 2012 4:08pm
Quoting Deadpoet87
hey guys,

hope you guys are doing good. I need some help, I was thinking that EU might re-test 1.324XX and should it break, bearish trend may resume till 1.316XX. however should it fail to break then perhaps, we might see a bullish trend to test 1.334XX.

what do you guys think?
You have a good eye for picking out levels. However, yours seems to be a more predictive kind of strategy. Try instead to adopt a responsive strategy by switching to the most favorable positions as per the current market movement. (managing risk).

I see the market acting bullish for most of this week so today....if price touches 1.324 i will throw in some longs and continue riding the bullish cue. If the price shoots to 1.334 that is not time to go long....that is time to exit the longs. This way you dont burst your brains thinking about where the market will go.....instead think of what you will do wherever the market will go. Know what you will do if the next time you looked at your chart you found the price at 3350 and have an idea of what you would do if 3240 was the case. When the market sleeps .... you can watch a movie.

Happy trading mate....but tell me what you think of this.
  • #593,756
  • Feb 9, 2012 4:13pm Feb 9, 2012 4:13pm
Quoting Deadpoet87
i guess its something most of us are guilty of. what separates traders and gamblers is the ability to admit defeat in a losing trade. (so cliche!)

however,

it kinda sucks when you close a losing trade only to have it retrace back again.

i believe if it happens too often the case then, one shouldnt be trading but instead re-learn basic concepts over and over again.

I see your trade has been doing well!
nope, it's nothing about win or defeat.

stop loss is just a natural cost of this business, just like commissions/spreads/slippages. no emotion should be involved.

I don't think it sucks if you see a chance of breakeven later on after you cut your loss. you long at 100, the price drop to 95, you cut loss, then
price drops further to 90, and rebound back to 100.

If you hold it from 100-100, you break even but it's an opportunity cost.
if you cut loss, you have another chance to hold it from 90 to 100.

Only if you cut you loss at the every bottom/top every time. Then quit
trading
  • #593,757
  • Feb 9, 2012 4:14pm Feb 9, 2012 4:14pm
Quoting Deadpoet87
I think with all the big boys getting their hands muddled with the market, fundamentals/ news at times do not depict the 'desired outcome' of a market. I realised too that at the end of the day it is just about S/R. if it breaks, it breaks. If it doesnt then dont trade. Sometimes i just wish i have more patience then to do ridiculous trades.

anyway those S/R you mentioned, those are H1?

To Be Honest, I don't know and I don't care
I trade 1M and 5M only, short term scalp
I regret that I close too early all the time...
I will try to work on that
  • #593,758
  • Feb 9, 2012 4:21pm Feb 9, 2012 4:21pm
Quoting Deadpoet87
i guess its something most of us are guilty of. what separates traders and gamblers is the ability to admit defeat in a losing trade. (so cliche!)

however,

it kinda sucks when you close a losing trade only to have it retrace back again.

i believe if it happens too often the case then, one shouldnt be trading but instead re-learn basic concepts over and over again.

I see your trade has been doing well!
Not at all, I am new on Forex. I suffers huge drawdowns on EUR when I was focus on commodities. I held those bad positions even around 1.2650 cause
I checked COT and saw huge short positions building up. Technically there
could be some squeeze from most bearish speculators holdings all history.
And I could deposit more into this testing account anytime. My bottom
line was 1.2500. That sucks anyway. Now I pay more attention to this account and wish I can learn something in forex trading.
  • #593,759
  • Feb 9, 2012 4:23pm Feb 9, 2012 4:23pm
Quoting aarontdang
To Be Honest, I don't know and I don't care
I trade 1M and 5M only, short term scalp
I regret that I close too early all the time...
I will try to work on that
typical way is close half and set BE for another half, and trailing (manually or automatically) it.
  • #593,760
  • Feb 9, 2012 4:25pm Feb 9, 2012 4:25pm
Quoting aripplet
Not at all, I am new on Forex. I suffers huge drawdowns on EUR when I was focus on commodities. I held those bad positions even around 1.2650 cause
I checked COT and saw huge short positions building up. Technically there
could be some squeeze from most bearish speculators holdings all history.
And I could deposit more into this testing account anytime. My bottom
line was 1.2500. That sucks anyway. Now I pay more attention to this account and wish I can learn something in forex trading.

COT report is joke .... I believe it future contract ... Not in current FX market... if people said COT said short we better go long
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