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  • #651,781
  • Jun 5, 2012 5:45am Jun 5, 2012 5:45am
EU still trading above 27-28, boring so far.
COT: The precious data ignored
  • #651,782
  • Jun 5, 2012 5:45am Jun 5, 2012 5:45am
Quoting BFSGcapital
yeah , so many things to add on charts. i need to add long term moving averages to my charts

but this was the old channel we were in, and we broke above it to 1.282. but its still an important line, if you look back in history.

to get this line just connect 1.328 to 1.318, the primary channel is 1.328 to 1.282 connect, and since we just broke above it but it was a fake out, i will move the primary channel out to 1.328 to 1.254, since it's the new peak
Gotcha, sort of!
  • #651,783
  • Jun 5, 2012 5:46am Jun 5, 2012 5:46am
Quoting halkins
I used to think 50% is 50% , that's it. But truth is different...
I can easyly make 100% in a month from a 100-200$ account.
But, if anybody think that he can do the same with $50.000-100.000 he doesn't know a thing about human phsychology...
-
ofcourse you can. you just keep doing what you are doing. you ignore the dollars. and change everything to pips or points. so you have the same goals in pips as you did when you had a small account. you dont even realise it. well i dont. by you i mean this is what i did. and it worked for me. just make trading a pattern and take the dollar figure out of it. focus on the pips not the bucks
  • #651,784
  • Jun 5, 2012 5:47am Jun 5, 2012 5:47am
Any one have a good ideal for this market today? I have over shorts
Think Different
  • #651,785
  • Jun 5, 2012 5:48am Jun 5, 2012 5:48am
Quoting halkins
Yes, yes, first when I started trading I had a "million dollar yacht and three nice chicks there with me" pictured in my head, ha ha ha.
Now I have a steady monthly reasonable income as a target, and it works...

Attachment
hahahaha ... didn't we all? I'm not into chicks though ... lol. There's not much in life that is free but dreams are. Nothing wrong with dreaming.
Nothing worth having is easy.
  • #651,786
  • Jun 5, 2012 5:50am Jun 5, 2012 5:50am
Quoting halkins
I used to think 50% is 50% , that's it. But truth is different...
I can easyly make 100% in a month from a 100-200$ account.
But, if anybody think that he can do the same with $50.000-100.000 he doesn't know a thing about human phsychology...
-
you will know when you talking to successful trader, a they stay around, b. they never mention money, c. they are always learning
If you are new to Forex? Say Goodbye to your account!!
  • #651,787
  • Jun 5, 2012 5:52am Jun 5, 2012 5:52am
EU officials on Tuesday played down the
significance of a conference call among G7 finance ministers to discuss
Europe’s financial crisis, describing it as “routine.” The call to take place later today was not made public until
Canadian Finance Minister Jim Flaherty announced it on Monday.
A spokesman for the European Commission said that the EU, including
the Commission, regularly held such exchanges and that there was “no
cause for alarm.”
EU officials would brief the G7 ministers on the “state of play” of
Europe’s plans to combat the crisis, the spokesman said.
  • #651,788
  • Jun 5, 2012 5:53am Jun 5, 2012 5:53am
Quoting KiwiTrada
how is your macro geppy doing bro, her on her way to getting my 160 back off you
swissy hs breached back into 4hr ascending chanel, her presently trying to stay inside, bears are tapping on bulls head, is interesting battle, my earlier short has clipped trailing, and I am long from todays open, so is bitter sweet for me, I can see my bears, fighting, but I need them piss off, hahahaha, then other ladies will fall,

she is in 110 pip area
Mohan
  • #651,789
  • Jun 5, 2012 5:54am Jun 5, 2012 5:54am
Quoting Patience
Wow. Well all I can say is that you have big cojones. Sometimes the market can do strange things and your stop can get skipped. I know when the Yen meltdown happened last year some traders' stops were skipped by up to a couple of hundred pips on some crosses. All the best to you.
and how would that matter? i mean if everyones stops got skipped everyone would of got wiped out. and i avoid jpy. i have been on both sides of that boj crap. my first day live a long time ago now i was using a trade indicating program... oh the crap i wish i knew. shorted it and literally 1 minute later. having got up to make a coffee, came back and i had lost a big chunk of my $5000 account. doing what a stupid program had said. on some cases im glad that happened. because i wouldnt be where i am today with out that. but damn that was a shit first day trading. but i figured i can lose a 1000 bucks a minute i can make it. and i also learnt that the program things are shit and to learn to do it the hard way. experience and reading
  • #651,790
  • Jun 5, 2012 5:55am Jun 5, 2012 5:55am
Quoting halkins
I used to think 50% is 50% , that's it. But truth is different...
I can easyly make 100% in a month from a 100-200$ account.
But, if anybody think that he can do the same with $50.000-100.000 he doesn't know a thing about human phsychology...
-
maybe for you

its definitely different when you are managing others money though. actually can be kind of scary at times, especially if you know your clients personally. but they will never lose more than 1% on any day, or more than 10% in one month, but that never happens (losing that much in a month, but its always good to have rules in place for yourself)

+0.6% today risking 0.2%, if i let it run down through daily pivot it would have been much more

good start to this month up almost 2%

logging offline, good luck to all in NY session, may be back then (going for 0.4% more risking 0.1% im thinking) but probably not.
An opportunity lost is not a capital cost.
  • #651,791
  • Jun 5, 2012 5:55am Jun 5, 2012 5:55am
Quoting KiwiTrada
yup cut loser agreed, personally if have proper plan, should never have to cut loser, trade plan will do it automatically.
This is so very true.....

Never enter a trade unless you know where your stop will be and even more important WHY your stop is where it is - a lot of people miss this but if you place your stop at a point where your trade assumption is wrong then you have put it in the right place, look at this way...

my trade this morning was short because I believed a correction on the H1 TF was probably complete.
I stated that this view became invalid if the price hit 1.254x because that would be posting a new high in the correction demonstrating that it may not be complete afterall. Therefore placing my stop just above this level +spread means I am out the moment my trade plan is no longer valid. no point hedging it, no point giving it more slack because my assumption to trade short would have been wrong.

Not only will you stress less about trading but your stops will get hit less if you choose the right place to put them.
  • #651,792
  • Jun 5, 2012 5:57am Jun 5, 2012 5:57am
I would like to see from experience traders how you define a trend and specialy how you trade with trend? Many times I see posts that says trend is your friend, go with trend - but how you see the trend when this could be something which is changing very often and sometimes without any clear or understable reasons (trend goes in oposite direction versus news).
  • #651,793
  • Jun 5, 2012 5:57am Jun 5, 2012 5:57am
Expect 1.2360.. For sure it will go.. Of course if G7 will not ask Bernanke to start QE3..
  • #651,794
  • Jun 5, 2012 5:58am Jun 5, 2012 5:58am
Quoting halkins
Yes, yes, first when I started trading I had a "million dollar yacht and three nice chicks there with me" pictured in my head, ha ha ha.
Now I have a steady monthly reasonable income as a target, and it works...

Attachment
One of my clients lost blow 1 million account in a less than 1 month.. So it is normal.. Don't be agressive trader.
Try to earn 1-2% in a day.. with 1:100 margin.. no more. Maximum margin utilisation 5%..
  • #651,795
  • Jun 5, 2012 5:59am Jun 5, 2012 5:59am
Quoting tightscalper
and how would that matter? i mean if everyones stops got skipped everyone would of got wiped out. and i avoid jpy. i have been on both sides of that boj crap. my first day live a long time ago now i was using a trade indicating program... oh the crap i wish i knew. shorted it and literally 1 minute later. having got up to make a coffee, came back and i had lost a big chunk of my $5000 account. doing what a stupid program had said. on some cases im glad that happened. because i wouldnt be where i am today with out that. but damn that was a shit first...
Same happened here, except I got up for a phone call from the mother in law.... London open with bad news at the same time. Moved over a hundred pips in half minute. Lost 8500 out of my 9500 k account.

Except I was not as smart as you, what I learned was "never take a phone call from the mother in law again".

lol
  • #651,796
  • Jun 5, 2012 6:01am Jun 5, 2012 6:01am
Quoting Azeriboy
Expect 1.2360.. For sure it will go.. Of course if G7 will not ask Bernanke to start QE3..
Have you a chart to show this
  • #651,797
  • Jun 5, 2012 6:04am Jun 5, 2012 6:04am
SMA's and Daily support holding her in a tight range - more drop after drop expected and since I am short it'd be better for me if I was right

http://s16.postimage.org/ttita40xx/eurm15.gif

http://s16.postimage.org/3z90kc0xx/eurm30.gif


image hosting adult
swing it!
  • #651,798
  • Jun 5, 2012 6:04am Jun 5, 2012 6:04am
Quoting lock.n.load
Same happened here, except I got up for a phone call from the mother in law.... London open with bad news at the same time. Moved over a hundred pips in half minute. Lost 8500 out of my 9500 k account.

Except I was not as smart as you, what I learned was "never take a phone call from the mother in law again".

lol
  • #651,799
  • Jun 5, 2012 6:04am Jun 5, 2012 6:04am
Quoting Azeriboy
Expect 1.2360.. For sure it will go.. Of course if G7 will not ask Bernanke to start QE3..
agree ... all data so far are favorable decrease ... thank God!
  • #651,800
  • Jun 5, 2012 6:06am Jun 5, 2012 6:06am
The euro zone crisis is top of the agenda for an 1100 GMT call between the finance chiefs of Group of Seven industrialised nations, although strategists cautioned against expecting any concrete actions as a results.
"We've seen nothing but disappointment every time the G7 gets together. The agenda is to force Europe to do something, but I think it is still less than likely that there will be something concrete coming out of this other than good intentions," said Steen Jakobsen, chief economist at Saxo Bank.
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