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  • #666,341
  • Jul 6, 2012 11:15am Jul 6, 2012 11:15am
112 pips profit shit I am lucky forgot the profit limit there is a God Yhaaaaaaaaaaaa
TEST
  • #666,342
  • Jul 6, 2012 11:16am Jul 6, 2012 11:16am
Quoting Globetrotter
my sentiments exactly. I was expecting some kind of retrace after ECB yesterday. But still more downside. This data surely should of gone in favour of the euro today
I do not think it is correlated like it has been before. AUD and NZD flat/slightly up in the early morning while the DAX, IBEX and S&P/DOW futures were all negative; and these are suppose to be "risk" assets.

I think now is when Euro fundamentals are starting to take its toll on the pair. I did not expect a drop like this, but the pair has hit a two year low.
  • #666,343
  • Jul 6, 2012 11:17am Jul 6, 2012 11:17am
Quoting pkimnyc
you might be right. divergences all over the place.
divergences could last forever in a strong trend
  • #666,344
  • Jul 6, 2012 11:20am Jul 6, 2012 11:20am
Quoting Globetrotter
Thanx Esssex. I dont pay attention to the news at the best of times because it usually reverts bk to the trend or course that it was originally on. Just didnt expect it to trade the way it has been doing today though
Even fundies tend to avoid trading US numbers on risk currencies mainly because of the role the US plays in the global economy and the role of the USD.

So bad numbers from the US, depending on the nature of the numbers, almost all US figures can be interpreted both ways with sound reasonable argument.

Hence we usually play US numbers against other safe haven pairs preferably against the USD/JPY
  • #666,345
  • Jul 6, 2012 11:20am Jul 6, 2012 11:20am
Quoting Artemis21
with these orders will take profit to next week my freind
How's that workin out for ya so far?
check out my blog: forexmademillionaire dot com
  • #666,346
  • Jul 6, 2012 11:23am Jul 6, 2012 11:23am
Quoting duyk20
divergences could last forever in a strong trend
no worries. i know how to cook em.
  • #666,347
  • Jul 6, 2012 11:24am Jul 6, 2012 11:24am
Quoting snprr
I'm short from 1.2176 sl: 1.2265. I took the position Friday
morning around 8AM EST. I wanted to trail the stop, but
fell asleep because of whacky sleeping patterns last week.
Luckily price didnt suddenly reverse on me through my stop
again. I'm thinking about moving the s/l asap to 1.2170, about
breakeven. I'll cover on another bounce around 1.1205 area,
but I'd like to leave the trade open and hopefully make some
decent gains on a break below 1.2060 area. I wish I wouldve
gotten in earlier, but have been focusing on the...
s/o?
those who can, do. those who cant, talk about those who can
  • #666,348
  • Jul 6, 2012 11:24am Jul 6, 2012 11:24am
Quoting pip_trader
I do not think it is correlated like it has been before. AUD and NZD flat/slightly up in the early morning while the DAX, IBEX and S&P/DOW futures were all negative; and these are suppose to be "risk" assets.

I think now is when Euro fundamentals are starting to take its toll on the pair. I did not expect a drop like this, but the pair has hit a two year low.
I think fundis are starting to take their toll on everything at the moment. I knew the euro would be touch and go today so hence why i was watching gold aswell. But still even gold took quite a beating today.
  • #666,349
  • Jul 6, 2012 11:25am Jul 6, 2012 11:25am
I love all these little n00bs that keep trying to buy. Your SLs help fuel my profits thank you!
check out my blog: forexmademillionaire dot com
  • #666,350
  • Jul 6, 2012 11:26am Jul 6, 2012 11:26am
Quoting Geppy
I love all these little n00bs that keep trying to buy. Your SLs help fuel my profits thank you!
u r welcome :-)
Pecunia non olet
  • #666,351
  • Jul 6, 2012 11:27am Jul 6, 2012 11:27am
That is the FIRST thing you do. Set a TP for the trade. I'm not giving you unsolicited advice on stop losses, position sizes or how to lead your life LOL, but remember, TP on all trades. There can be an intervention, a nuclear catastrophe, whatever, and if you're lucky, your TP will be hit.

Quoting robboyes
112 pips profit shit I am lucky forgot the profit limit there is a God Yhaaaaaaaaaaaa
forget about tomorrow, just steal away into the night
  • #666,352
  • Jul 6, 2012 11:29am Jul 6, 2012 11:29am
Quoting spekitox
That is the FIRST thing you do. Set a TP for the trade. I'm not giving you unsolicited advice on stop losses, position sizes or how to lead your life LOL, but remember, TP on all trades. There can be an intervention, a nuclear catastrophe, whatever, and if you're lucky, your TP will be hit.
awful advice. keep a stop loss on all trades and never move it. Have an IDEA of where you'd LIKE to take profit, but feel free to move it all the time (preferably to widen it).

Too many idiots lose money because they move stop losses to only take bigger losses and stay disciplined with target profits that only give them a fraction of what they could have taken out of the move.
check out my blog: forexmademillionaire dot com
  • #666,353
  • Jul 6, 2012 11:29am Jul 6, 2012 11:29am
Quoting Globetrotter
I think fundis are starting to take their toll on everything at the moment. I knew the euro would be touch and go today so hence why i was watching gold aswell. But still even gold took quite a beating today.
Sure did. Just about everything did. Wish I foreseen this. I was short EUR/JPY and would have loved to add to it.

I was out early this morn and missed a lot of the movement. I found a possible trade: AUD/NZD looks to have formed a triple top, TF 1H.
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  • #666,354
  • Jul 6, 2012 11:32am Jul 6, 2012 11:32am
Time to long..

http://wahai.com/katweekly.png
Patience Pays
  • #666,355
  • Jul 6, 2012 11:33am Jul 6, 2012 11:33am
Quoting Geppy
awful advice. keep a stop loss on all trades and never move it. Have an IDEA of where you'd LIKE to take profit, but feel free to move it all the time (preferably to widen it).

Too many idiots lose money because they move stop losses to only take bigger losses and stay disciplined with target profits that only give them a fraction of what they could have taken out of the move.
  • #666,356
  • Jul 6, 2012 11:34am Jul 6, 2012 11:34am
Better start closing eur/usd shorts when gbp/usd hits 50.

Just guessing
They think they are smarter than I am.
  • #666,357
  • Jul 6, 2012 11:34am Jul 6, 2012 11:34am
Quoting fdjauzak
Time to long..
Feel free to..

When it's down, people always looking for long. They will never learn

Buy low, sell high? No, buy higher, sell lower

All those gurus here posting chart when they catch the absolute top/bottom. It's pretty poisonous chart in my honest opinion
  • #666,358
  • Jul 6, 2012 11:39am Jul 6, 2012 11:39am
Quoting MaxDoom
morning all,

So what probabilities am I working with today.. given yesterdays action there are now two high probability scenarios:
....................
Summary: It needs to either break yesterday low to keep the correction scenario on hold, or test and pull away to give confidence in the correction still.
Approach: Sell a break of yesterdays low. Or if it the low holds buy for the correction either from a test of the low with tight stop below or on a lift and a new low probably on at least the 15 minute timeframe.
nice high probability trading today
  • #666,359
  • Jul 6, 2012 11:39am Jul 6, 2012 11:39am
Quoting pip_trader
Sure did. Just about everything did. Wish I foreseen this. I was short EUR/JPY and would have loved to add to it.

I was out early this morn and missed a lot of the movement. I found a possible trade: AUD/NZD looks to have formed a triple top, TF 1H.
thanx piptrader. I will keep an eye on that but stick to trading on what i know or think i know lol. 2 years trading and im still kind of new to this. I have stuck to concentrating on eur/usd and at least its keeping me in profit rather than losses at the moment. Any advice, support and help is more than welcome from you for future trades. Cheers
  • #666,360
  • Jul 6, 2012 11:40am Jul 6, 2012 11:40am
Quoting duyk20
Feel free to..

When it's down, people always looking for long. They will never learn
Indeed. That's why it's below my avatar
check out my blog: forexmademillionaire dot com
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