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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #34,441
  • Edited 4:28am Jun 5, 2012 4:18am | Edited 4:28am
scalp trade out of the market with .06% up on equity my goal is 7 t0 10 % for the month,i am already up 1.9% till now.let see if i can achieve it.
Allah has permitted trade and has forbidden interest [koran]
  • #34,442
  • Jun 5, 2012 4:39am Jun 5, 2012 4:39am
Gooood morning girls and boys, bulls and bears.
What happened this morning was exactly what I was waiting for whole Monday.
But the market made a nasty prank for me and did it all on Asian session. Hehhh
We’ve got a nice impulse leg developed and my plan for today is SHORTING on retracement.

And here I have a question for you.
As you could see, I closed all my shorts yesterday as I lost confidence in the market.
Last night the market spiked up a little and reversed exactly as I wanted.
Now, in this case what would be better for you:
1) leaving the position opened for the night? This morning I would have nice green pips on my account, but I would have take the risk leaving my trades without SL?
2) or reenter in the morning, however my entry level would be much worse then the initial one, and I have to build up my setup again and “hunt” new entry?

I’ll be really happy to see your opinion and a plan for today.

And here's my plan for today:

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  • #34,443
  • Jun 5, 2012 4:41am Jun 5, 2012 4:41am
Quoting PipTrapper
Stevens is a man who sees it and says it the way it is, rather than trying to paint a picture of roses to hang over the stinky toilet.
Yep, ever since the begining of crissis, probably before but i wasnt aware of him.
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  • #34,444
  • Jun 5, 2012 4:48am Jun 5, 2012 4:48am
go to NEWS on FF

Quoting Evanescence
can you show us a link or something for the Spain situation for now?
  • #34,445
  • Jun 5, 2012 4:51am Jun 5, 2012 4:51am
Quoting PipTrapper
Stevens is a man who sees it and says it the way it is, rather than trying to paint a picture of roses to hang over the stinky toilet.
can you please tell us what do we get from this statement? is it a sign for going up or down..
  • #34,446
  • Jun 5, 2012 5:02am Jun 5, 2012 5:02am
Quoting halkins
Gooood morning girls and boys, bulls and bears.
What happened this morning was exactly what I was waiting for whole Monday.
But the market made a nasty prank for me and did it all on Asian session. Hehhh
We’ve got a nice impulse leg developed and my plan for today is SHORTING on retracement.

And here I have a question for you.
[color=black][font=Verdana]As...
If this short was underwater then I would leave it for the night, if green - than close ( or add another one)and put limit order a bit higher for asians to triger it at better price. I noticed that asians often like to make new high/lows just a 10-20, max - 40 pips above recent peak... - there I leave limit orders for the night and find them green right before frankie in the morning
69
  • #34,447
  • Jun 5, 2012 5:04am Jun 5, 2012 5:04am
Quoting halkins
Gooood morning girls and boys, bulls and bears.
What happened this morning was exactly what I was waiting for whole Monday.
But the market made a nasty prank for me and did it all on Asian session. Hehhh
We’ve got a nice impulse leg developed and my plan for today is SHORTING on retracement.

And here I have a question for you.
[color=black][font=Verdana]As...
In my opinion the retracement could accelerate until 1.2620/50 (area of weekly pivot)before it goes further down. I see an ABCD-pattern here. So maybe you should wait a lttle more before shorting again. You know the mantra of this thread: PATIENCE.
Please be absolutely aware: I am a bloody beginner and this is my first posted chart ever (yeeehaah!!)
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  • #34,448
  • Jun 5, 2012 5:05am Jun 5, 2012 5:05am
guys my little 1 year daughter played with my laptop while i wanted to modify my order and she closed it (thank god in profit). She didn't leave any keyboard button in it's place, took out 3 buttons, couldn't do anything but laugh.
Too bad, i shorted from 1.2505 and now it's almost hard to reach that area with this sentiment. Looking forward to reshorting again
  • #34,449
  • Jun 5, 2012 5:12am Jun 5, 2012 5:12am
Quoting mka_78
guys my little 1 year daughter played with my laptop while i wanted to modify my order and she closed it (thank god in profit). She didn't leave any keyboard button in it's place, took out 3 buttons, couldn't do anything but laugh.
Too bad, i shorted from 1.2505 and now it's almost hard to reach that area with this sentiment. Looking forward to reshorting again
It's quite normal - even a child can make profit in forex.
I heard that that they have special facilities filled up with trained monkeys and penguins (dount ask why penguins) in Madagascar. If you ever wondered there is an answer - they move the markets.
69
  • #34,450
  • Jun 5, 2012 5:15am Jun 5, 2012 5:15am
Quoting Likerty
If this short was underwater then I would leave it for the night, if green - than close ( or add another one)and put limit order a bit higher for asians to triger it at better price. I noticed that asians often like to make new high/lows just a 10-20, max - 40 pips above recent peak... - there I leave limit orders for the night and find them green right before frankie in the morning
yeah... quite risky, isn't it?
10 times you win, but 11th blows your account
Last month I left "open" position for "only" 2 hours.
Hehhh... It took me 3 weeks to bring it back to breakeven.
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  • #34,451
  • Jun 5, 2012 5:17am Jun 5, 2012 5:17am
Quoting mahogany
In my opinion the retracement could accelerate until 1.2620/50 (area of weekly pivot)before it goes further down. I see an ABCD-pattern here. So maybe you should wait a lttle more before shorting again. You know the mantra of this thread: PATIENCE.
Please be absolutely aware: I am a bloody beginner and this is my first posted chart ever (yeeehaah!!)
Yes, your scenario is quite reasonable.
The most important is to have a plan, stick to it and cut off quickly if you are wrong. Good job, buddy
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  • #34,452
  • Jun 5, 2012 5:17am Jun 5, 2012 5:17am
Quoting halkins
yeah... quite risky, isn't it?
10 times you win, but 11th blows your account
Last month I left "open" position for "only" 2 hours.
Hehhh... It took me 3 weeks to bring it back to breakeven.
11th your sl takes hit - thats all.. -20 or -30 pips - not a big deal..It's even funny
69
  • #34,453
  • Jun 5, 2012 5:25am Jun 5, 2012 5:25am
Quoting halkins
Yes, your scenario is quite reasonable.
The most important is to have a plan, stick to it and cut off quickly if you are wrong. Good job, buddy
Thank you
  • #34,454
  • Jun 5, 2012 5:34am Jun 5, 2012 5:34am
Quoting halkins
Gooood morning girls and boys, bulls and bears.
What happened this morning was exactly what I was waiting for whole Monday.
But the market made a nasty prank for me and did it all on Asian session. Hehhh
We’ve got a nice impulse leg developed and my plan for today is SHORTING on retracement.

And here I have a question for you.
[color=black][font=Verdana]As...
the way u close ur short yesterday gave me the impression that ur exposure is much more than u tolerate.rather than closing the entire position u might have reduce the leverage and stayed in the market.by the way i made some pips in the same trade,i think credit for that trade should go to PT becos it was his idea to short there.
Allah has permitted trade and has forbidden interest [koran]
  • #34,455
  • Jun 5, 2012 5:48am Jun 5, 2012 5:48am
Quoting drzakir123
the way u close ur short yesterday gave me the impression that ur exposure is much more than u tolerate.rather than closing the entire position u might have reduce the leverage and stayed in the market.by the way i made some pips in the same trade,i think credit for that trade should go to PT becos it was his idea to short there.
Oh, definitely the exposure was much over the level I was able to tolerate leaving the position overnight without SL.
But if I had left the SL where I wanted it would be stopped out with some minor loss.
So now I think it was good closing all trades at BE.
Hence, I didn't know it would go my direction, I should rather think it can go against me. So I am happy, better have BE then LOSS
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  • #34,456
  • Jun 5, 2012 5:52am Jun 5, 2012 5:52am
friday pierce close 50%
monday engulf on sunday bar 100%
retrace almost 75% for a mini bulls

NY close sign
If there was easy money lying around,no one would be forcing it into your
  • #34,457
  • Jun 5, 2012 6:16am Jun 5, 2012 6:16am
this is the channell i am looking at,if price reach the target it will approximately 1.2220,price may reach it by tommorrow afternoon
Attached Image (click to enlarge)
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Allah has permitted trade and has forbidden interest [koran]
  • #34,458
  • Jun 5, 2012 6:19am Jun 5, 2012 6:19am
Quoting drzakir123
this is the channell i am looking at,if price reach the target it will approximately 1.2220,price may reach it by tommorrow afternoon
if it breaks 1.2410 it will fall free to 61.80Fibo (1.23850)
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  • #34,459
  • Jun 5, 2012 6:33am Jun 5, 2012 6:33am
Quoting halkins
if it breaks 1.2410 it will fall free to 61.80Fibo (1.23850)
yes ur right but say if it break 1.2450 then it mean it failed to reach the median line and the implication is price going to reach C level on the pitchfork ie the level of 1.2540 (please refer to the pitchfork chart i posted earlier.)price at the moment at the critical point.i am just watching on the sideline and waiting for PT's fundamental view.
Allah has permitted trade and has forbidden interest [koran]
  • #34,460
  • Jun 5, 2012 6:34am Jun 5, 2012 6:34am
Quoting halkins
And here I have a question for you.
As you could see, I closed all my shorts yesterday as I lost confidence in the market.
Last night the market spiked up a little and reversed exactly as I wanted.
Now, in this case what would be better for you:
1) [color=black][font=Verdana]leaving the position opened for the night? This morning I would...
I was in a similar situation last night myself. I had full position shorted at 1.2500 but was unsure if the pair was going to hit 1.26 before resuming downtrend.

I closed 1/2 my position and put a short order in for 1.2475, just in case. I woke up today with green pips!

when in doubt close it out....
...because you never know - until you do!
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