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  • #599,941
  • Feb 24, 2012 1:23pm Feb 24, 2012 1:23pm
Quoting kibescorp
Okay, I am going to say this one more time, and maybe people will actually listen this time (doubtful) ... we are in an UPTREND. Bullish. Positive sentiment.

That means BUY RISK. STOP TRYING TO LOCATE TOPS THAT ARE NOT THERE! There's no such thing as a "top" in an uptrend. You're just setting yourself up for failure.

Waiting to sell dips in an uptrend. Yeah ... that's rational and not at all high-risk or misguided.

Meanwhile, my NZD/USD position opened yesterday is already up nearly 100 pips and counting. Holding the position for...

Sellers will continue to lose money. Continue trying to see resistances when there are none.

Trade against the obvious trend and lose money. It's as simple as that.

Euro short covering will continue ... followed by more risk buying ... uptrend just getting warmed up.

Meanwhile, thanks to EUR/JPY, I can practically retire now.
  • #599,942
  • Feb 24, 2012 1:24pm Feb 24, 2012 1:24pm
Quoting matheszabi
I saw an opportunity to sell, and now I am on -70 Pip.
I knew is a high risk to leave it for week-end, I took this time

Short from 1.3392, imho was Friday and to high price for the weekend moves.
Imho: until Tuesday I am expecting to have +50 pip at least in this trade.

- oh only -65 pip now

how could you be -70 if you just sold?

EDIT: ohhh... i dont believe it... 600.000th post on the page 40.000 and also the last post of the page...!!

i have to buy a lottery ticket now this is a sign from gods that today is my lucky day..or not?
'You must be the change you wish to see in the world' . Gandhi
  • #599,943
  • Feb 24, 2012 1:26pm Feb 24, 2012 1:26pm
DJ is red now so euro/usd is going south
NOt more complicated than that
  • #599,944
  • Feb 24, 2012 1:39pm Feb 24, 2012 1:39pm
Quoting nicholson84
Does anybody keep longs positions during the week-end ?
Hi - I'm a short term trader so my answer is absolutely not, it can be very easy to get caught as you don't know what will happen. But I'm sure some longer term traders as well as swing traders would say otherwise
  • #599,945
  • Feb 24, 2012 1:40pm Feb 24, 2012 1:40pm
Quoting phxmike
how could you be -70 if you just sold?

"Short from 1.3392"
I want to buy PATIENCE
  • #599,946
  • Feb 24, 2012 1:43pm Feb 24, 2012 1:43pm
EUR/USD bounced from support 1.3450, because of DowJones correction
Good trading luck to all of us
  • #599,947
  • Feb 24, 2012 1:46pm Feb 24, 2012 1:46pm
Quoting GrandeACM
EUR/USD bounced from support 1.3450, because of DowJones correction
So it's time to head north again? Not too good with S&R.
  • #599,948
  • Feb 24, 2012 1:46pm Feb 24, 2012 1:46pm
it seems turmaz was correct, the infinite wonders of forex feed me much delight.

fellow traders the shorts are in place, i will see you guys at 1.29 were i will be eating my lobster and red wine.

Hope is a very powerful tool
  • #599,949
  • Feb 24, 2012 1:58pm Feb 24, 2012 1:58pm
Quoting nick55510
Hi - I'm a short term trader so my answer is absolutely not, it can be very easy to get caught as you don't know what will happen. But I'm sure some longer term traders as well as swing traders would say otherwise
Ok, thank you, I think I will close everything...
  • #599,950
  • Feb 24, 2012 1:59pm Feb 24, 2012 1:59pm
Quoting jaws810
So it's time to head north again? Not too good with S&R.
Why is it not too good with S&R? It is just a fact from market.
Good trading luck to all of us
  • #599,951
  • Feb 24, 2012 2:05pm Feb 24, 2012 2:05pm
EU/CHF is approaching 1.20 again. I'm not saying this is going to happen again necessarily, however, the last time SNB intervention occurred this pair spiked 200 pips before reversing.

Just something to keep in mind if it does get there....
  • #599,952
  • Feb 24, 2012 2:07pm Feb 24, 2012 2:07pm
Quoting GrandeACM
Why is it not too good with S&R? It is just a fact from market.
I'm not too good with S&R, I trade breakouts and EMA cross. S&R is too vague, is it going to bounce off, will it hold, is it a strong or weak support/resistance.

I prefer definite signals did the ema12 cross the ema20 or did PA break through the daily high/low. Then I go for 20-30 pips a trade. Simple.
  • #599,953
  • Feb 24, 2012 2:17pm Feb 24, 2012 2:17pm
Quoting matheszabi
"Short from 1.3392"
ahh.. i was reading then too fast i did not see that, wait some time then
it may hit 3420 before it ends today...

(magyar vagy? a neved alapjan.. )
'You must be the change you wish to see in the world' . Gandhi
  • #599,954
  • Feb 24, 2012 2:18pm Feb 24, 2012 2:18pm
Quoting nick55510
Hi - I'm a short term trader so my answer is absolutely not, it can be very easy to get caught as you don't know what will happen. But I'm sure some longer term traders as well as swing traders would say otherwise
It depends on
a) Your trading philosophy (i.e short or long term)
b) your bank balance
c) your stop levels
d) whether you want the headache when the market opens on Sunday

As a personal note, the only time I was tempted to leave a position open over the weekend I lost £1400 straightaway when the market opened on Sunday. The reason - Moody's downgraded the USA from AAA

I NEVER, NEVER, NEVER leave an open position at the weekend now.
  • #599,955
  • Feb 24, 2012 2:20pm Feb 24, 2012 2:20pm
Hi guys - fairly new forex trader, so a quick question seeing as we're off into the weekend ...

How many pips Target do you have each week or day ??

Also - do you do this full time, or do you have 'day jobs' (which then leads to another question of) why do you have a job if you're pretty good at Forex ?

Im up for a 52 pip gain today (quite pleased with myself to be honest!) - so just wondered how it compared and so on.

There is another question (but im not sure many will answer !) and that is - whats the average £ per pip you normally place ? (I understand risk management and so on ie never risk more than 1%, etc) - but interested to know what the sizes are.

Thanks all - have a great weekend
  • #599,956
  • Feb 24, 2012 2:21pm Feb 24, 2012 2:21pm
Quoting phxmike
ahh.. i was reading then too fast i did not see that, wait some time then
it may hit 3420 before it ends today...

(magyar vagy? a neved alapjan.. )
the day is almost gone there is no traders, low level of vola
  • #599,957
  • Feb 24, 2012 2:24pm Feb 24, 2012 2:24pm
Quoting PokerPlayer
It depends on
a) Your trading philosophy (i.e short or long term)
b) your bank balance
c) your stop levels
d) whether you want the headache when the market opens on Sunday

As a personal note, the only time I was tempted to leave a position open over the weekend I lost £1400 straightaway when the market opened on Sunday. The reason - Moody's downgraded the USA from AAA

I NEVER, NEVER, NEVER leave an open position at the weekend now.

... I agree. It could be bearish end of NY session and preparation for weekend down gap before monday open

Good trading luck to all of us
  • #599,958
  • Feb 24, 2012 2:32pm Feb 24, 2012 2:32pm
Quoting lattod
Hi guys - fairly new forex trader, so a quick question seeing as we're off into the weekend ...

How many pips Target do you have each week or day ??

Also - do you do this full time, or do you have 'day jobs' (which then leads to another question of) why do you have a job if you're pretty good at Forex ?

Im up for a 52 pip gain today (quite pleased with myself to be honest!) - so just wondered how it compared and so on.

There is another question (but im not sure many will answer !) and that is - whats the average £ per pip you normally place...
I try not to set a target but concentrate on looking for good positions where I can get in and out. If you can do that the pips take care of themselves

52 pips is plenty, I try and grab 30 pips a day at £20 per pip. Somedays I'm under, somedays I'm WAY over.

Good luck and hope you listen to some (not all) the traders on here, they helped me a lot.

There are also a couple of good books I can recommend. PM me if you want the titles

regards
  • #599,959
  • Feb 24, 2012 2:34pm Feb 24, 2012 2:34pm
Quoting PokerPlayer
It depends on
a) Your trading philosophy (i.e short or long term)
b) your bank balance
c) your stop levels
d) whether you want the headache when the market opens on Sunday

As a personal note, the only time I was tempted to leave a position open over the weekend I lost £1400 straightaway when the market opened on Sunday. The reason - Moody's downgraded the USA from AAA

I NEVER, NEVER, NEVER leave an open position at the weekend now.
Completely agreed
  • #599,960
  • Feb 24, 2012 2:39pm Feb 24, 2012 2:39pm
Quoting GrandeACM

... I agree. It could be bearish end of NY session and preparation for weekend down gap before monday open

The opening gap is very unpredictable, it could just as easily open up it depends on weekend news. I've had the gap work for me and against me, I only leave negative pip trades open if they are close to the opening price so they have room to recover from the gap if it goes further negative and positive pip trades get a sl at BE+5 pips When I place a trade I commit to the risk involved with the trade and I also want to reach my tp so I have nothing to lose that I haven't already decided to risk and I protect a positive trade so it don't go negative.
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