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  • #604,741
  • Mar 6, 2012 2:21pm Mar 6, 2012 2:21pm
Quoting Atlast
There is always a possibility, but why wait when there is clear support established
There are you can see, support was broken and now support stil resistance
Attached Image (click to enlarge)
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  • #604,742
  • Mar 6, 2012 2:23pm Mar 6, 2012 2:23pm
Quoting ForexRyan
What price are you long at?
1.3112
  • #604,743
  • Mar 6, 2012 2:25pm Mar 6, 2012 2:25pm
Quoting Atlast
1.3112
Same here.
  • #604,744
  • Mar 6, 2012 2:28pm Mar 6, 2012 2:28pm
I decided to go long @ 1.3112. Looks like it may be good for a bounce. Who knows.
  • #604,745
  • Mar 6, 2012 2:28pm Mar 6, 2012 2:28pm
Thinking a daily close above 3120 will
take us right back up to 3170 and see
how it plays out from there.
You can remain irrational longer than you can remain solvent.
  • #604,746
  • Mar 6, 2012 2:34pm Mar 6, 2012 2:34pm
So I had a couple of losses today, and been told to that it was due to my inability to 'read PA near the levels' (I think it was kuroro who said that). Does anybody know a link to read on this or a thread here on FF worth reading about this(there are millions of those, maybe someone knows a better trader who explains better of them all)?
  • #604,747
  • Mar 6, 2012 2:35pm Mar 6, 2012 2:35pm
A clearer pic of ABCD's on the long term
Attached Image (click to enlarge)
Click to Enlarge Name: eu3-6.png Size: 49 KB
  • #604,748
  • Mar 6, 2012 2:38pm Mar 6, 2012 2:38pm
I am shocked,they are still 73% short,
don't think i've ever seen them be right
for so long,somethings got to give.


http://www.myfxbook.com/community/outlook
You can remain irrational longer than you can remain solvent.
  • #604,749
  • Mar 6, 2012 2:46pm Mar 6, 2012 2:46pm
Quoting jezek5
I am shocked,they are still 73% short,
don't think i've ever seen them be right
for so long,somethings got to give.


http://www.myfxbook.com/community/outlook
My friend, there are traders who will stay short until we reach 1.20
New voice message: Why are you calling me? If I need you, I'll call you!
  • #604,750
  • Mar 6, 2012 2:47pm Mar 6, 2012 2:47pm
Quoting KillerWhale
My friend, there are traders who will stay short until we reach 1.20
  • #604,751
  • Mar 6, 2012 2:53pm Mar 6, 2012 2:53pm
This may be out of the main topic, I'm wondering if anyone here is scaling into this trend? or anyone scaling out loses? If so, please input your thoughts on this. By definition scaling out loses simply is cutting partial loses so the whole draw down does not seem overwhelming.
  • #604,752
  • Mar 6, 2012 2:53pm Mar 6, 2012 2:53pm
Quoting KillerWhale
My friend, there are traders who will stay short until we reach 1.20
Thats true mate,but the larger percentage
are normally facing the wrong way,bet if we
get much lower most will flip long.lol
You can remain irrational longer than you can remain solvent.
  • #604,753
  • Mar 6, 2012 2:59pm Mar 6, 2012 2:59pm
Quoting Agent-Pipen
This may be out of the main topic, I'm wondering if anyone here is scaling into this trend? or anyone scaling out loses? If so, please input your thoughts on this. By definition scaling out loses simply is cutting partial loses so the whole draw down does not seem overwhelming.
I may be doing that, even not knowing the concept existed. I'm doing both, I suppose. But I'm quite noobish.
  • #604,754
  • Mar 6, 2012 3:06pm Mar 6, 2012 3:06pm
Quoting Alec
I may be doing that, even not knowing the concept existed. I'm doing both, I suppose. But I'm quite noobish.
Actually, there's three scaling. The 3rd one rarely anyone talks about. The most two common ones are to scale in, which is adding to your losses to make the average price better or to add in when you have a winning trade to gain more profit. The 2nd is to scale out, which is to exit a percentage of your trade and keeping a percentage of trade in for the bigger move. The rarely talked about is scaling your losses, which is cutting your losses little by little for an example: Your total stop is set at -100, instead of waiting for the full -100. You would exit at -20 some, and -20 some etc... this would eventually be -60 instead of -100. Any input on these three scenarios?
  • #604,755
  • Mar 6, 2012 3:07pm Mar 6, 2012 3:07pm
  •  orzels
  • | Joined Nov 2011 | Status: Buy at resistance, Sell at support™ | 309 Posts
DOW is low. US Stock shocked.
  • #604,756
  • Mar 6, 2012 3:11pm Mar 6, 2012 3:11pm
Quoting Agent-Pipen
This may be out of the main topic, I'm wondering if anyone here is scaling into this trend? or anyone scaling out loses? If so, please input your thoughts on this. By definition scaling out loses simply is cutting partial loses so the whole draw down does not seem overwhelming.

If scaling in is your thing then i guess everytime
your method says buy then buy,just make sure
your risk is under control.
As for scaling out,sorry but rubbish,you should know
where to get out if you're wrong before you get in,
cut your losses fast,PA can be really deceiving when
you're under water and hope takes over.
You can remain irrational longer than you can remain solvent.
  • #604,757
  • Mar 6, 2012 3:13pm Mar 6, 2012 3:13pm
Quoting Cerber.bf2
So I had a couple of losses today, and been told to that it was due to my inability to 'read PA near the levels' (I think it was kuroro who said that). Does anybody know a link to read on this or a thread here on FF worth reading about this(there are millions of those, maybe someone knows a better trader who explains better of them all)?
Yes i did say that.
It'd be too easy a draw a line and go long/short once it reaches it.

Sorry mate but i don't know any websites or link mentionning how to clearly read PA, but a lot of people were mentionning the thread "Price is everything" and a thread started by Jacko i think...have a look at them.

I've learned it the hard way...so i've got my own way of interpreting it.
1) i don't use trendline...only horizontal resistance/support.
2) check how many times the support/resistance has been used in the past (for intraday trade i look at a week max!). First time often proves to be stronger than the 2-3-4th times.
3) check if a pattern is developping around this level ..eg bullish engulfing candle, piercing candle, etc..
COT: The precious data ignored
  • #604,758
  • Mar 6, 2012 3:13pm Mar 6, 2012 3:13pm
looks to be building in a bottom now on the 15.

intermediate trend remains up.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eur intermediate.gif Size: 9 KB
  • #604,759
  • Mar 6, 2012 3:19pm Mar 6, 2012 3:19pm
Quoting Agent-Pipen
This may be out of the main topic, I'm wondering if anyone here is scaling into this trend? or anyone scaling out loses? If so, please input your thoughts on this. By definition scaling out loses simply is cutting partial loses so the whole draw down does not seem overwhelming.
Scaling out of losses, that's the funniest one I've heard in a long time.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #604,760
  • Mar 6, 2012 3:19pm Mar 6, 2012 3:19pm
Quoting jezek5
If scaling in is your thing then i guess everytime
your method says buy then buy,just make sure
your risk is under control.
As for scaling out,sorry but rubbish,you should know
where to get out if you're wrong before you get in,
cut your losses fast,PA can be really deceiving when
you're under water and hope takes over.
so i take it that your not a fan of cutting slower losses. It might be wise to have a stop set pre entry. For my system, i have no stop or limit set anywhere. I purely trade on correlations between set pairs, sorta like a hedge account. There will always be a winning pair and a losing pair. If I dont scale out little by little, I would eventually make nothing. I see your point, one need to have a clear direction and plan pre entry, so there wouldn't be a need to have scaling.
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