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EURUSD

  • #643,741
  • May 16, 2012 4:44am May 16, 2012 4:44am
Quoting megajester
Thanks for the link but I wanted MisterTrader to prove his statement came from a good source and not some bloke he met down the pub
Maybe he got it from the link F1m0 supplied
  • #643,742
  • May 16, 2012 4:45am May 16, 2012 4:45am
  •  wimdb
  • | Joined Feb 2012 | Status: Trading is all about discipline. | 20 Posts
Quoting Freshpips
Aim for middle 1/3 of any trend ideally... get in once new trend been confirmed - then out before it kills you - dont get greedy, which tends to be my problem, and i get burned!

I think we are far from the bottom. Maybe the bottom is 1.15 in 2 or 3 months.
  • #643,743
  • May 16, 2012 4:46am May 16, 2012 4:46am
lets see if it passes through mid jan support level, hope so
  • #643,744
  • May 16, 2012 4:47am May 16, 2012 4:47am
Quoting CorBlimeyGuv
Gbp - inflation report *boe sees inflation slowing below 2% target in two years
oh well....short continues then
Patience, Emotion Control and Discipline.
  • #643,745
  • May 16, 2012 4:48am May 16, 2012 4:48am
Quoting Freshpips
Aim for middle 1/3 of any trend ideally... get in once new trend been confirmed - then out before it kills you - dont get greedy, which tends to be my problem, and i get burned!
Yes, spend as much time working on your exit strategy as you do on your entry. Taking modest profits will always pay you better in the long run than holding on to every winning trade to squeeze it for all it's worth. I look to see where the main resistance points are, where the pivot points, fib levels, and key MAs are, and always set a TP around these. I've learnt that holding out for the big one doesn't pay long term, despite how frustrating it can be when you get it badly wrong and it continues to the sky or to the depths without you.
  • #643,746
  • May 16, 2012 4:52am May 16, 2012 4:52am
Quoting megajester
Thanks for the link but I wanted MisterTrader to prove his statement came from a good source and not some bloke he met down the pub
  • #643,747
  • May 16, 2012 4:56am May 16, 2012 4:56am
BoE - time bought by ECB action has not been used to put in place lasting solutions to eurozone problems.
  • #643,748
  • May 16, 2012 4:57am May 16, 2012 4:57am
do you reckon old Merv is short
  • #643,749
  • May 16, 2012 4:57am May 16, 2012 4:57am
After the wave down (A-B)yesterady in the European Session market consolidated (typical 3 waves) and market found resistance at the decreasing 20 SMA and the 1.28 round number. Market droped down (C-D) and found some support at the Weekly S2 and the 61.80 % fib extension from the start of the sudden drop in price from A to B at C at about 1.2757. The 61.80 % fib extension is very often only intermediate support/resistance before the market goes further to the 100 % fib extension in a strong trend. In the following, market droped down again and reached the 100 % fib extension (A-B at C) and the 100 % fib extension from C-D at E at about 1.2729. Market consolidated at the support level before dropping down again in the Asian/ European Session today.

http://forex-chartanalysis.blogspot.de/
Attached Image (click to enlarge)
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  • #643,750
  • May 16, 2012 4:58am May 16, 2012 4:58am
Quoting johncen
oh well....short continues then
it didn't give time to enter short
Mohan
  • #643,751
  • May 16, 2012 5:01am May 16, 2012 5:01am
Quoting Freshpips
Aim for middle 1/3 of any trend ideally... get in once new trend been confirmed - then out before it kills you - dont get greedy, which tends to be my problem, and i get burned!
This is also my "little" problem...if people were not so greedy (including me - will try to sell this bad habit of me on ebay ) and trade only with 5-10% of their trading capital, they would prevent some loses...
  • #643,752
  • May 16, 2012 5:01am May 16, 2012 5:01am
Quoting mohan76
it didn't give time to enter short
yes..I was expecting 2770...
or atleast 2753
Patience, Emotion Control and Discipline.
  • #643,753
  • May 16, 2012 5:05am May 16, 2012 5:05am
Quoting Freshpips
Far too quick for me to catch... at this stage anyway
hahaha yes very quick, very nice
If you are new to Forex? Say Goodbye to your account!!
  • #643,754
  • May 16, 2012 5:05am May 16, 2012 5:05am
Quoting johncen
yes..I was expecting 2770...
or atleast 2753
However I hav the FOMC meeting minutes on my book....
hmmmmm
Patience, Emotion Control and Discipline.
  • #643,755
  • May 16, 2012 5:08am May 16, 2012 5:08am
Quoting mohan76
it didn't give time to enter short

bro todays zone was 5983 5992 asia marker 5980 check it see what risk we was faced with
If you are new to Forex? Say Goodbye to your account!!
  • #643,756
  • May 16, 2012 5:08am May 16, 2012 5:08am
200+ and counting
Attached Image (click to enlarge)
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  • #643,757
  • May 16, 2012 5:09am May 16, 2012 5:09am
Quoting damjankp1
This is also my "little" problem...if people were not so greedy (including me - will try to sell this bad habit of me on ebay ) and trade only with 5-10% of their trading capital, they would prevent some loses...
5-10%!?!?!?!?!?!?!
  • #643,758
  • May 16, 2012 5:13am May 16, 2012 5:13am
Quoting Guitarfx
5-10%!?!?!?!?!?!?!
Yeah, that's highly overleveraged. Whatever happened to rule of thumb 1% max risk on any trade?
  • #643,759
  • May 16, 2012 5:20am May 16, 2012 5:20am
Quoting SaiLenFatt
Yeah, that's highly overleveraged. Whatever happened to rule of thumb 1% max risk on any trade?
Do you guys know actually who created this rule? For sure a rookie like you all here..

Mostly in Inet is written, not to risk more than 2% per trade. Imagine 5 trades against you and you will lose 10% of your account...!

Same with the 1% theroie.. And its totally normal to lose 5-6 trades at the same time.

Risking per trade depends on your strategy and not on your Account size. If you trade long term or with wide Sl. 1% is also very much !

Percentage should be based on your Strategy and not this kind of "forex fake rules" same as oversold/bhought
  • #643,760
  • May 16, 2012 5:28am May 16, 2012 5:28am
Just attacted the Signals Thread Statement to my Profile.

+174 pips so far and counting Hope everyone is njoying it
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