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  • #595,681
  • Feb 15, 2012 8:37pm Feb 15, 2012 8:37pm
I'm still long... volumes quite low.
I reckon it might tickle 1.30050 area again ..but it should pull back more up
Less is more...
  • #595,682
  • Edited 8:49pm Feb 15, 2012 8:37pm | Edited 8:49pm
Quoting mkvy
why cant you see it

well trend have to change @ some point , going long have good R:R , shorting on support not advisable.

it's just below main range
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Mohan
  • #595,683
  • Feb 15, 2012 8:43pm Feb 15, 2012 8:43pm
Nearing the 50% Correction mark at 1.296

Where she stops no one knows....
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  • #595,684
  • Feb 15, 2012 8:49pm Feb 15, 2012 8:49pm
Would only look to initiate shorts around the 1.3080 mark...otherwise, would not short near 1.3000 mark. Highly likely that we see at least a quick run up before any continuation down. That is the scenario I am watching for. Building some longs now.
  • #595,685
  • Feb 15, 2012 8:51pm Feb 15, 2012 8:51pm
What happened today during Asia proves a few things to me.
My loss on longs was very limited because of tight stops, but of course few people expected the 1.3128 to be breached.
I took a long @ 1.3010 and @ BE already.
But let the price come to you
Don't chase the price down. (Or up)

I expect to go higher during Frankfurt and / or London, a pull back is needed IMO.
we'll see where it goes.
I still have shorts from 1.3205 that I don't want to unload because I think we're back in the down trend.
We'll see but I'll keep a very close watch.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #595,686
  • Feb 15, 2012 8:59pm Feb 15, 2012 8:59pm
Quoting KillerWhale
What happened today during Asia proves a few things to me.
My loss on longs was very limited because of tight stops, but of course few people expected the 1.3128 to be breached.
I took a long @ 1.3010 and @ BE already.
But let the price come to you
Don't chase the price down. (Or up)

I expect to go higher during Frankfurt and / or London, a pull back is needed IMO.
we'll see where it goes.
I still have shorts from 1.3205 that I don't want to unload because I think we're back in the down trend.
We'll see but I'll keep a very close watch.
Interesting aproach
Your long trade hit SL and you took another long straight away?
Less is more...
  • #595,687
  • Feb 15, 2012 8:59pm Feb 15, 2012 8:59pm
Quoting lagoi
still holding your long ??
Yes, still holding
Happy Trading!!!
  • #595,688
  • Feb 15, 2012 9:12pm Feb 15, 2012 9:12pm
Quoting Aladar
Interesting aproach
Your long trade hit SL and you took another long straight away?
I always trade that way.
If my SL is hit it means that I took the long too early, not that the long is not valid.
Same for shorts.
Keep stops tight and try again at a better level.

It has always worked for me since I'm mostly right in the basic direction but sometimes it's hard to pin point the right entry.

Lots of people have 40 pip sl, I take 10 pip sl and try again when those other people are at their 40 pip and if I'm right I won 30 pips


For more info on this way of trading search for Jacko in the search box.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #595,689
  • Feb 15, 2012 9:13pm Feb 15, 2012 9:13pm
Quoting Aladar
I'm still long... volumes quite low.
I reckon it might tickle 1.30050 area again ..but it should pull back more up
I agree. I'm still long, too.
Time turns trend. - W.D. Gann
  • #595,690
  • Feb 15, 2012 9:16pm Feb 15, 2012 9:16pm
Quoting KillerWhale
I always trade that way.
If my SL is hit it means that I took the long too early, not that the long is not valid.
Same for shorts.
Keep stops tight and try again at a better level.

It has always worked for me since I'm mostly right in the basic direction but sometimes it's hard to pin point the right entry.

Lots of people have 40 pip sl, I take 10 pip sl and try again when those other people are at their 40 pip and if I'm right I won 30 pips


For more info on this way of trading search for Jacko in the search box.
In general, any trade that requires a 50 pip stop or more it not a valid trade in my opinion.
Better wait till you're closer to support or resistance!
Or take a trade in the opposite direction on the way to your entry point.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #595,691
  • Feb 15, 2012 9:17pm Feb 15, 2012 9:17pm
Quoting Fawlty
Would only look to initiate shorts around the 1.3080 mark...otherwise, would not short near 1.3000 mark. Highly likely that we see at least a quick run up before any continuation down. That is the scenario I am watching for. Building some longs now.
I'm doing the same thing. Buy stops in place. I did that two nights ago, before bed. Woke up with roughly 100 pips. Last night I didn't want to chance it. Glad I didn't. Long looking good now.
Time turns trend. - W.D. Gann
  • #595,692
  • Feb 15, 2012 9:20pm Feb 15, 2012 9:20pm
Quoting Aladar
Interesting aproach
Your long trade hit SL and you took another long straight away?
More like roller coaster ....

I like simple - I just took a 1R full loss I was too confident and used a tight stop just 1 support level away .... oh well .... next opportunity.
  • #595,693
  • Feb 15, 2012 9:22pm Feb 15, 2012 9:22pm
Quoting KillerWhale
In general, any trade that requires a 50 pip stop or more it not a valid trade in my opinion.
Better wait till you're closer to support or resistance!
Or take a trade in the opposite direction on the way to your entry point.
And for exiting a trade I also have a very simple solution.
If you are in gain on a long trade, simply ask yourself yourself the question: is this a level where I want to go short? If yes, then exit. If no, then don't exit.
And the same (opposite) for shorts of course.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #595,694
  • Feb 15, 2012 9:27pm Feb 15, 2012 9:27pm
Quoting KillerWhale
And for exiting a trade I also have a very simple solution.
If you are in gain on a long trade, simply ask yourself yourself the question: is this a level where I want to go short? If yes, then exit. If no, then don't exit.
And the same (opposite) for shorts of course.
In fact trading is so simple that I really wished that I could do it as easy as I describe it.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #595,695
  • Feb 15, 2012 9:34pm Feb 15, 2012 9:34pm
Took profit at 1.3028 (on the initial drop was expecting a bounce at 1.3025). Waiting for 1.3080 to reenter short. USD index wants to test 80.00 but cant seem to get past 79.90. We should have support at 1.3000/2980. However, in a couple of weeks, I am looking forward for 1.2525.
  • #595,696
  • Feb 15, 2012 9:39pm Feb 15, 2012 9:39pm
Quoting ibpo

next down area is 1.30271
1.30271 reached

Inserted Video
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  • #595,697
  • Edited 10:22pm Feb 15, 2012 9:57pm | Edited 10:22pm
Attached Image (click to enlarge)
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as i have posted it earlier and according this chart it has touched it's a level now the upward side at least 3220 and then back again down to 2920 EDIT MORE PRECISELY FROM 1.3143 TO 1.3175
narender sehrawat from india
  • #595,698
  • Feb 15, 2012 9:57pm Feb 15, 2012 9:57pm
Quoting mercy seat
LONG at 1.3036 with a Limit now ...

Lowest "MID" been 1.3033 ... and this has been since 02h38 several times(!) ...

Time of execution 03h03 CET




;-|

Now we could load our beloved lower levels ...

And this has been happened as expected ...

See conversation with member "Fini" ...

#4224

At least I did tell my expectations ... correction up towards above 1.3100 with 1.3125 - 1.3150 as an extention at first ...

Lowest entry for the longside been executed with mine has been 1.3012 until now ...

Executed at 04h10 CET

Due to our proprietary execution and trading methods we managed the BE towards below 1.30164 for total amounts ...




;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #595,699
  • Feb 15, 2012 10:14pm Feb 15, 2012 10:14pm
Quoting NoobJJ
I've done the same..set my SL @ 20 pips down
got blown up
Totally shouldnt have gone against the trend..
Is volume in forex less important when compared to stock?
what I perceive is...people take lesser concern about it
A well meant advice from my side my dear ...

Never ever use a stop loss with less than 55 - 65 points ... unless you have learned specific methods that work out for you with more than 90% of real success ...

In forex a SL of 55 - 65 pips is what in real huge and wellknown trading rooms is commonly used as being a "tight stop loss" ...

Anything below that is a scalpers stop ... or moreover at least a typical amateur traders stop ...

Now you are stopped out ... with the effect that the boat has left the quays at Pont Montblanc and it will go for the journey towards the north (maybe towards Montreux) ... but unfortunately without you on board ...

See you later ... at above 1.31



;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #595,700
  • Feb 15, 2012 10:16pm Feb 15, 2012 10:16pm
you long, i short
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