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  • #642,881
  • May 13, 2012 9:09pm May 13, 2012 9:09pm
@solsys:

It is not my intention to dissuade anyone from trading their plan - I'm a long term trader. So I'm in my short for the long haul.

When I say 1.2880 will go - it will go, but Im not saying dont buy the EUR if your trading plan says to buy it - Im not a scalper.

I hope I have cleared the air on why I say its going to go.

Respectfully,
HDA
  • #642,882
  • May 13, 2012 9:14pm May 13, 2012 9:14pm
Quoting HDA
@ForExtraPips:

Why do you see a major reversal at 1.2802?

Respectfully,
HDA
I just used mathematics with swing highs and lows. So, I took the swing high on the M5 chart on 5-11-12, which was 1.2943 then subtracted that from the swing low of 1.2904, which gave me 0.0039. Then I took 0.0039 and times (X) it by 2.618 (Golden Ratio, squared). And that gave me 0.0102102. Then I added that number to the swing high, which gave me 1.3045 for the next possible reversal point, if and when price traveled north from there. Then I took the swing low and subtracted it from 0.0102102, which gave me the 1.2802, for the next possible reversal point if and when price went south.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm5.jpg Size: 72 KB
Time turns trend. - W.D. Gann
  • #642,883
  • May 13, 2012 9:18pm May 13, 2012 9:18pm
Quoting Snarkalarker
1.2760 area I think could be real key.

I will not Long this one this week no matter what.

Maybe just look for some nice spikes and then look for a signal on the 15 M chart to short. I find the wicks to be reliable.
Same here. Not touching it this week. Just watching and observing while taking notes.
Time turns trend. - W.D. Gann
  • #642,884
  • May 13, 2012 9:20pm May 13, 2012 9:20pm
Quoting ForExtraPips
I just used mathematics with swing highs and lows. So, I took the swing high on the M5 chart on 5-11-12, which was 1.2943 then subtracted that from the swing low of 1.2904, which gave me 0.0039. Then I took 0.0039 and times (X) it by 2.618 (Golden Ratio, squared). And that gave me 0.0102102. Then I added that number to the swing high, which gave me 1.3045 for the next possible reversal point, if and when price traveled north from there. Then I took the swing low and subtracted it from 0.0102102, which gave me the 1.2802, for the next possible reversal...
@ForExtraPips:

That's alot of maths - WoW! Listen, rule of thumb without all that maths - The Psychological Level in trading is always at 00

1.2900
1.2800
1.2700
1.2600

The Psychological level never changes

Respectfully,
HDA
  • #642,885
  • May 13, 2012 9:24pm May 13, 2012 9:24pm
Quoting HDA
@ForExtraPips:

That's alot of maths - WoW! Listen, rule of thumb without all that maths - The Psychological Level in trading is always at 00

1.2900
1.2800
1.2700
1.2600

The Psychological level never changes

Respectfully,
HDA
2600 should be the obvious target, though i'm thinking much lower. 1 step at a time.
  • #642,886
  • May 13, 2012 9:26pm May 13, 2012 9:26pm
Quoting HDA
@ForExtraPips:

That's alot of maths - WoW! Listen, rule of thumb without all that maths - The Psychological Level in trading is always at 00

1.2900
1.2800
1.2700
1.2600

The Psychological level never changes

Respectfully,
HDA
Right. The Psychological level never changes, but it sure does mess with the head. That's the part of trading that I have to overcome. It's very powerful.
Time turns trend. - W.D. Gann
  • #642,887
  • May 13, 2012 9:27pm May 13, 2012 9:27pm
Quoting pkimnyc
2600 should be the obvious target.
@PKIMNYC:

You mentioned it earlier about where to target, but you never stated the price, but you did say the low and I hoped everyone understood what you meant - but yes 2600

Support is at 2625 but I wanna get out at 2650 - Im cool with that.

Respectfully,
HDA
  • #642,888
  • May 13, 2012 9:28pm May 13, 2012 9:28pm
Quoting ForExtraPips
Same here. Not touching it this week. Just watching and observing while taking notes.
That is what I am doing with the AUD/USD for this week.

I a m a firm believer that one makes their best trades when adopting the mindset you stated above.

I have been sitting out this one for awhile. When it became obvious that 1.3470 area was not going to be hit again for a spell I just stayed away from this one.

Whats the hurry?

But, this week I am going to be looking for slowly entering a short position for a relatively long term.

If it gets up anywhere near 1.3170 or in the neighborhood I will not be slowly entering. I do not think it will get up there this week.
  • #642,889
  • May 13, 2012 9:30pm May 13, 2012 9:30pm
Quoting ForExtraPips
Right. The Psychological level never changes, but it sure does mess with the head. That's the part of trading that I have to overcome. It's very powerful.
@ForExtraPips:

Which is why I've been saying, if you gave a trader the perfect plan, he/she would not be able to trade it successfully because of the psychology that is involved in trading that particular plan.

Respectfully,
HDA
  • #642,890
  • May 13, 2012 9:31pm May 13, 2012 9:31pm
Quoting HDA
@PKIMNYC:

You mentioned it earlier about where to target, but you never stated the price, but you did say the low and I hoped everyone understood what you meant - but yes 2600

Support is as 2625 but I wanna get out at 2650 - Im cool with that.

Respectfully,
HDA
not many understands. there isn't many swingers here.
  • #642,891
  • May 13, 2012 9:31pm May 13, 2012 9:31pm
HDA,

Do you have a stop loss on this eur short? I shorted earlier today.

Thanks,
rozario173
  • #642,892
  • May 13, 2012 9:33pm May 13, 2012 9:33pm
Quoting rozario173
HDA,

Do you have a stop loss on this eur short? I shorted earlier today.

Thanks,
rozario173
his stop loss is only for protecting his positions by now. lol
  • #642,893
  • May 13, 2012 9:34pm May 13, 2012 9:34pm
Quoting Snarkalarker
That is what I am doing with the AUD/USD for this week.

I a m a firm believer that one makes their best trades when adopting the mindset you stated above.

I have been sitting out this one for awhile. When it became obvious that 1.3470 area was not going to be hit again for a spell I just stayed away from this one.

Whats the hurry?

But, this week I am going to be looking for slowly entering a short position for a relatively long term.

If it gets up anywhere near 1.3170 or in the neighborhood I will not be slowly entering. I do not...
That's the way I'm starting to trade. Longer term. None of this short time stuff. Find the right entry and let it go, without the psych stuff messing with my head. Just like "if" I would have went short at the First of this Month. How much I would have made. No more of that mind game stuff. Just plan my trade, then trade my plan. Taking notes, keeping a journal really helps. GL
Time turns trend. - W.D. Gann
  • #642,894
  • May 13, 2012 9:35pm May 13, 2012 9:35pm
Quoting pkimnyc
his stop loss is only for protecting his positions by now. lol
@PKIMNYC:

Awwww be nice - but yes - Im just trailing in the GREEN

Respectfully,
HDA
  • #642,895
  • May 13, 2012 9:35pm May 13, 2012 9:35pm
2873 is weekly low of 01-09-2011 Watch out.

Attached Image (click to enlarge)
Click to Enlarge Name: 51 h4 levels 05-13-12.gif Size: 29 KB
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #642,896
  • May 13, 2012 9:40pm May 13, 2012 9:40pm
Quoting HDA
@PKIMNYC:

Awwww be nice - but yes - Im just trailing in the GREEN

Respectfully,
HDA
sorry about that, but people should know by now. swing trading = not for everyday.
  • #642,897
  • May 13, 2012 9:42pm May 13, 2012 9:42pm
Quoting pkimnyc
sorry about that, but people should know by now. swing trading = not for everyday.
@PKIMNYC:

Understood

Respectfully,
HDA
  • #642,898
  • May 13, 2012 9:44pm May 13, 2012 9:44pm
Quoting ForExtraPips
Taking notes, keeping a journal really helps. GL
I have always taken notes but until the beginning of this year I never have kept a journal. It is a weekly journal. It has helped my trading.

If for some reason, I had family obligations to meet for instance, I feel completely lost on how the 7 Pairs that I follow, if I have not made my weekend journal entries not only for the coming week but to recap ( in red) what I wrote the earlier week.

This is a great; habit, for lack of a better term, that all traders should employ especially those just starting out.
  • #642,899
  • May 13, 2012 9:45pm May 13, 2012 9:45pm
has 1.2880 been taken out?

how much up can we expect?

can it make upto 1.2850 today?
  • #642,900
  • May 13, 2012 9:45pm May 13, 2012 9:45pm
Quoting ForExtraPips
That's the way I'm starting to trade. Longer term. None of this short time stuff. Find the right entry and let it go, without the psych stuff messing with my head. Just like "if" I would have went short at the First of this Month. How much I would have made. No more of that mind game stuff. Just plan my trade, then trade my plan. Taking notes, keeping a journal really helps. GL
I can give you figures for holding short may open, is depends how many entries and how long you holded them, but yes, i am gived may open levels were possibly minimum 100 - 200 - 300 pips, and was laughed at by most, now is me laughing,
Bro Tuesday May 1st traders were closing their shorts for 15 - 20 pips, pity and most were long, all week were try get in long, pity
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