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EURUSD

  • #663,881
  • Jul 2, 2012 6:09am Jul 2, 2012 6:09am
I am waiting to see further down today. Watching 1hr chart, current price at below 1.2670 (78.6%) and RSI in lower.
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TRADE WHAT U SEE NOT WHAT U WANT TO SEE.
  • #663,882
  • Jul 2, 2012 6:12am Jul 2, 2012 6:12am
Quoting KillerWhale
The spread will kill you
Indeed, basically it means (for me at least): I enter with two positions and whenever a certain level pips are reached I take the first and move the second to BE so if there is a reversal I'd have secured one and lost nothing. If it did continue in a direction I though, I could secure more. I also adjust my stop every certain amount of pips so that if a quick rally starts that I can secure a already decided amount The point is not to hang on to a trade that reached a peak and reverses and now you hope that it might go up again. I don't want to sound like a penny pincher but a trade won is a good trade.
  • #663,883
  • Jul 2, 2012 6:12am Jul 2, 2012 6:12am
Quoting MaxDoom
it has nothing to do with "them" and everything to do with your trading....

You got out because you thought it was going up.... you shouldn't make trading decisions like that you will get burnt over and over by every zigzag in the market.

Have a trade plan

a) I will go short at X because blah blah
b) I will exit at Y because blah blah
c) my stop will be at Z because blah blah

once in your trade don't be distracted from your goals or reasoning unless they are proven wrong. The moment that happens get out.

What do I mean... you think...
Good advice, I'm just gonna close my eyes and wait til it hit 1.27 or I get stopped out. Not gonna try to guess where it goes minute to minute.
  • #663,884
  • Jul 2, 2012 6:13am Jul 2, 2012 6:13am
Quoting Xantor
Indeed, basically it means (for me at least): I enter with two positions and whenever a certain level pips are reached I take the first and move the second to BE so if there is a reversal I'd have secured one and lost nothing. If it did continue in a direction I though, I could secure more. I also adjust my stop every certain amount of pips so that if a quick rally starts that I can secure a already decided amount The point is not to hang on to a trade that reached a peak and reverses and now you hope that it might go up again. I don't want to sound...

a breakeven to me is the spread + 5% of my lot size !!!!
“Don't cry because it's over, smile because it happened.”
  • #663,885
  • Jul 2, 2012 6:17am Jul 2, 2012 6:17am
Hi Guys,
Current EUR/USD situation

Take care,
Seb


PS : More charts on my blog.
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  • #663,886
  • Jul 2, 2012 6:18am Jul 2, 2012 6:18am
Quoting Xantor
Indeed, basically it means (for me at least): I enter with two positions and whenever a certain level pips are reached I take the first and move the second to BE so if there is a reversal I'd have secured one and lost nothing. If it did continue in a direction I though, I could secure more. I also adjust my stop every certain amount of pips so that if a quick rally starts that I can secure a already decided amount The point is not to hang on to a trade that reached a peak and reverses and now you hope that it might go up again. I don't want to sound...
Great post, this is something that I am struggling since I started trading, knowing when to take money off the table is a very, very important part of beign successful in FX.
Trailing your profit is something I use lately with success. There is a quote I heard from another trader "you have to learn how to eat with a small spoon" - sums up everything I guess.
swing it!
  • #663,887
  • Jul 2, 2012 6:20am Jul 2, 2012 6:20am
Quoting balanced2012
a breakeven to me is the spread + 5% of my lot size !!!!
Eh? What do you mean?

Let's say your spread is 10points and your lot size is 1

1pip + 0.05 lot? how do you reckon that?
I'm not sure I understand.
  • #663,888
  • Jul 2, 2012 6:22am Jul 2, 2012 6:22am
What I''l be looking at with NY coming up --

The S&P 500 hit key resistance Friday in the Hopium move following the summit ... It had made a run at this level out of a reverse head and shoulders only to get turned back...

Now it sits just below this key 1363.90 level --

It is possible that US traders will put European worries on the back burner and try to push through 1363.90 --- a breakout of which will fuel risk on appetite -- the S&P 500 is widely seen as a proxy for risk sentiment --

Despite the predictable "the devil is in the details" monkey wrenches in the Summit "deal" slowing coming to the forefront of European trader's minds that caused the sell off from a good looking little rally to 1.2667ish

... a big rally in S&P on teh break out through this key level could be supportive in EURUSD... Watch 1365 on S&P as fuel for next EURUSD swing up... if one is to come
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  • #663,889
  • Jul 2, 2012 6:23am Jul 2, 2012 6:23am
Quoting balanced2012
a breakeven to me is the spread + 5% of my lot size !!!!
Breakeven (BE) mean spread + ammount you were initialy prepared to sacrifised in your trade,
5% is too much for me personally.
swing it!
  • #663,890
  • Jul 2, 2012 6:24am Jul 2, 2012 6:24am
Quoting Xantor
Eh? What do you mean?

Let's say your spread is 10points and your lot size is 1

1pip + 0.05 lot? how do you reckon that?
I'm not sure I understand.

if the spread 1 pip i add 5 pips if 100 = my lot size and etc i add 10 pips if 200 = my lot size ( Value in $ )
“Don't cry because it's over, smile because it happened.”
  • #663,891
  • Jul 2, 2012 6:27am Jul 2, 2012 6:27am
one fucking pair it is. don't understand these japanese sometimes. risk off usd/jpy is up. risk on what it is still up.
  • #663,892
  • Jul 2, 2012 6:29am Jul 2, 2012 6:29am
Quoting Nachiket
one fucking pair it is. don't understand these japanese sometimes. risk off usd/jpy is up. risk on what it is still up.
If every country starts bringing their currency down by making blah blah blah noises that it is undervalued then only the dollar will gain which will be a huge negative.
  • #663,893
  • Jul 2, 2012 6:30am Jul 2, 2012 6:30am
Quoting tomspin
Great post, this is something that I am struggling since I started trading, knowing when to take money off the table is a very, very important part of beign successful in FX.
Trailing your profit is something I use lately with success. There is a quote I heard from another trader "you have to learn how to eat with a small spoon" - sums up everything I guess.
Aye, I had the same problems in the beginning and realised that I was hanging on to trades that I hoped would go back in my favour. After many months and reading loads of material I found one consistency for most professional traders.

They managed their risk - they didn't go chasing after the BIG trades, instead they managed it in such a manner that if it did turn into a big trade they could secure it, if it turned out to be a loss the risk they took would be no more than 2% of their account. Losing one trade 20% of your account is unacceptable, losing 10 trades 2% will make you EXTREMELY unlucky
  • #663,894
  • Jul 2, 2012 6:33am Jul 2, 2012 6:33am
Quoting Myo
Got stopped out for -3 pips over night. Going long here.
stopped out again. oh well.
  • #663,895
  • Jul 2, 2012 6:34am Jul 2, 2012 6:34am
Quoting balanced2012
if the spread 1 pip i add 5 pips if 100 = my lot size and etc i add 10 pips if 200 = my lot size ( Value in $ )
Ahhhh, ok I understand now whatever works for you. You have to decide what you want to risk and what you wish to keep.
  • #663,896
  • Jul 2, 2012 6:35am Jul 2, 2012 6:35am
Quoting Myo
stopped out again. oh well.
ya one fucking day today is. i think the americans will pump it again.
  • #663,897
  • Jul 2, 2012 6:36am Jul 2, 2012 6:36am
On friday i told that need to sell from 2690. if somebody did listen me then say thank you to yourself. One more time arount. Nobody is listening only emotions emotions..
  • #663,898
  • Jul 2, 2012 6:37am Jul 2, 2012 6:37am
eur/usd has to behave for this target to be achieved.
  • #663,899
  • Jul 2, 2012 6:37am Jul 2, 2012 6:37am
Quoting Xantor
Ahhhh, ok I understand now whatever works for you. You have to decide what you want to risk and what you wish to keep.

thats it i always risk no more 2% per trade and lock 5 % per lot value so if i have 100% successful trading day my minimum profit is 5% of my equity and its ok so far

cheers !!
“Don't cry because it's over, smile because it happened.”
  • #663,900
  • Jul 2, 2012 6:38am Jul 2, 2012 6:38am
Quoting Trader88q
On friday i told that need to sell from 2690. if somebody did listen me then say thank you to yourself. One more time arount. Nobody is listening only emotions emotions..
you got lucky is all i can say. trend is up after it closed above 1.2550.
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