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EURUSD

  • #655,621
  • Jun 12, 2012 7:07am Jun 12, 2012 7:07am
Quoting fxanonymous
right now the only chart that makes any sense is the H1 that is showing a retracement of the price to the 50-EMA (getting close to 1.252x area).

the M5 chart is consolidating in this area in order to prepare for a down move.

Also, the 50-EMA on the hourly chart is preparing to cross below the 200-EMA which is usually a big sign of a downward movement.

pending short @ 1.2521
SL @ 1.2536
TP @ 1.2481 (open for adjustments)
I can't believe I always close out my positions too early!

I knew it was gonna happen, I even posted it on FF!
I hate myself right now

Now waiting for a new appropriate time to short, possibly 2505 in 15 or 20minutes. Will short if it happens.
Daily Target: 20 pips
  • #655,622
  • Jun 12, 2012 7:08am Jun 12, 2012 7:08am
Quoting KiwiTrada
What level you have london open at bro cheers
2485
69
  • #655,623
  • Jun 12, 2012 7:09am Jun 12, 2012 7:09am
Quoting Likerty
2485
Just closed my short here
Attached Image (click to enlarge)
Click to Enlarge Name: entry-3.jpg Size: 126 KB
69
  • #655,624
  • Jun 12, 2012 7:11am Jun 12, 2012 7:11am
Quoting fxanonymous
I can't believe I always close out my positions too early!

I knew it was gonna happen, I even posted it on FF!
I hate myself right now

Now waiting for a new appropriate time to short, possibly 2505 in 15 or 20minutes. Will short if it happens.
Yeah bro. Same here, except that it hit my risk tolerance of 5% so I had to close out my 4 shorts of 17, 15, 90, 82 respectively.
  • #655,625
  • Jun 12, 2012 7:13am Jun 12, 2012 7:13am
Quoting Likerty
Just closed my short here
Excellent!
TRADE WHAT U SEE NOT WHAT U WANT TO SEE.
  • #655,626
  • Jun 12, 2012 7:15am Jun 12, 2012 7:15am
Quoting sukkim
Excellent!
Thanks! Maybe I took this too early but considering todays chopyness and NY comming..
69
  • #655,627
  • Jun 12, 2012 7:16am Jun 12, 2012 7:16am
Quoting Esssex
Yeah bro. Same here, except that it hit my risk tolerance of 5% so I had to close out my 4 shorts of 17, 15, 90, 82 respectively.
hehe yeah me too.


Quoting fxanonymous
out with small 7pips

waiting for NY.

this is too unclear and risky for my taste
Daily Target: 20 pips
  • #655,628
  • Jun 12, 2012 7:16am Jun 12, 2012 7:16am
No shorts until H1 close below 90.
m5 wants some upside. 90 blocking the way up
COT: The precious data ignored
  • #655,629
  • Edited 7:40am Jun 12, 2012 7:24am | Edited 7:40am
Why most traders keep making the same mistake over and over is because they have NOT identified there faults nor mastered and overcome the same similar situation..some are just married to an ideaology they posted on a forum,e.g am a bear am a bull.....the best and most successfull traders out there are neither bear nor bull..but are like the market..trading one direction at a time...some people want to trade the right direction,but have some rigid fixed tolerant level that the market is always bound to be giving you the works steadily...you want to make 100pips from a position but cant stand a 40 or even 80pips draw down..many cant even take 10-15pips..they believe if they took a trade and it went in the opposite direction by some reasonnable pips,then they made the wrong decision..they only wont to see it that if they had gone in that same direction,that the draw down would have been profit..welll you might as well start planting and harvesting corn in one day,it much easier than playing with this PUM-PUM....THE LOVE OF PUM PUM IS THE ROOT OF ALL EVIL....CHEERS
Imanuel Parsifal
  • #655,630
  • Jun 12, 2012 7:29am Jun 12, 2012 7:29am
Quoting Likerty
Just closed my short here
lol I had almost identical trade on doji but i only pb i am waiting see support can hold
If you are new to Forex? Say Goodbye to your account!!
  • #655,631
  • Jun 12, 2012 7:32am Jun 12, 2012 7:32am
Quoting sycho
Why most traders keep making the same mistake over and over is because they have identified there faults nor master and overcome the same similar situation..some are just married to an ideaology they posted on a forum,e.g am a bear am a bull.....the best and most successfull traders out there are neither bear nor bull..but are like the market..trading one direction at a time...some people want to trade the right direction,but have some rigdid fixed tolerant level that the market is always bound to be giving you the works steadily...you want to make...
smart boy
this is the reason i keep FF on one of my screens everyday
i make my own mind up on what way i will trade on the day
and listen to sycho and the other few smart traders that post here
THANK YOU
Trade What You See Not What You Want To See
  • #655,632
  • Jun 12, 2012 7:34am Jun 12, 2012 7:34am
a lot of selling going on at 00
Trade What You See Not What You Want To See
  • #655,633
  • Jun 12, 2012 7:35am Jun 12, 2012 7:35am
pairs are in ranging mode, no extreme news due today. look for channels. currently trend is up GY, GU, EU, but watch ny for turnaround point sometime later.
  • #655,634
  • Jun 12, 2012 7:35am Jun 12, 2012 7:35am
Quoting sycho
Why most traders keep making the same mistake over and over is because they have identified there faults nor master and overcome the same similar situation..some are just married to an ideaology they posted on a forum,e.g am a bear am a bull.....the best and most successfull traders out there are neither bear nor bull..but are like the market..trading one direction at a time...some people want to trade the right direction,but have some rigdid fixed tolerant level that the market is always bound to be giving you the works steadily...you want to make...
quote of the day...
nice one bro
  • #655,635
  • Jun 12, 2012 7:36am Jun 12, 2012 7:36am
Quoting KiwiTrada
lol I had almost identical trade on doji but i only pb i am waiting see support can hold
What is pb? Partial booking? It looks like m15 still in that bear-flag-like range formation..
69
  • #655,636
  • Jun 12, 2012 7:36am Jun 12, 2012 7:36am
managed to get a short at 2501

targeting 2485 then out.
Daily Target: 20 pips
  • #655,637
  • Jun 12, 2012 7:39am Jun 12, 2012 7:39am
Very slow today they are selling activities but nothing special. Today will be a slow day even though I think it will go further down 1.24550 probably.
  • #655,638
  • Jun 12, 2012 7:41am Jun 12, 2012 7:41am
Quoting sycho
Why most traders keep making the same mistake over and over is because they have identified there faults nor master and overcome the same similar situation..some are just married to an ideaology they posted on a forum,e.g am a bear am a bull.....the best and most successfull traders out there are neither bear nor bull..but are like the market..trading one direction at a time...some people want to trade the right direction,but have some rigdid fixed tolerant level that the market is always bound to be giving you the works steadily...you want to make...
So, I should be risking 20% of my cash per trade?

Which probably means when I scale in 5 positions in the same direction, I am effectively putting my entire account on the line. Sounds good.

Look, I'm not trying to be a dick here but when it comes to "tolerance" level, it is not about the pips but rather the % of capital.

Some stick to their rigid 1% capital per trade, blah blah but you have got to have an amount of your capital you are willing to lose for every position you take.

Some leverage more so they have tighter SLs, some leverage less so they can afford even 1000pip movements against them and it doesn't even scratch them.

It all depends on your leverage that you have and not a so called "pip-tolerance" level.
  • #655,639
  • Jun 12, 2012 7:42am Jun 12, 2012 7:42am
hey guys, how are you doin'? seems like the goddamn roller coaster to me
anybody buying right now? or loading to sell?
  • #655,640
  • Jun 12, 2012 7:46am Jun 12, 2012 7:46am
Quoting undertaker66
hey guys, how are you doin'? seems like the goddamn roller coaster to me
anybody buying right now?
Wait for H4 close for direction. Can't trade the shorter TFs at all today.
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