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  • #666,361
  • Jul 6, 2012 11:45am Jul 6, 2012 11:45am
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.


totally agree it just shows that when they entered the trade they did not think through where the stop should go in the first place

for me that is where the trade plan is proven wrong taking into account max risk etc. Then there is no need to consider moving it because you know that your whole trade plan is now invalid.
  • #666,362
  • Jul 6, 2012 11:50am Jul 6, 2012 11:50am
Quoting Globetrotter
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
No problem. The learning process never ends for sure. I like to stick to a few pairs, but with moves like we've had today I like to look for other opportunities as long as they fit my system.

Do you trade gold thru options, futures, XAU/USD, etc?
  • #666,363
  • Jul 6, 2012 11:55am Jul 6, 2012 11:55am
Better just divide currencies in components.

EurUsd goes ALWAYS down IF at the same time EurGbp AND GbpUsd goes down and vice versa for up.

Most of the time today these pairs have been breaking in turns critical levels or been rejected at.

It is nothing else.

And now this crap is that EG is trying to create a support at 30 (~ intraday 50 range) and maybe and just maybe GU has some power to hit 50 ( which makes intraday range ~100) or likely alternative is that EG breaks support and GU plays between 50/00.
They think they are smarter than I am.
  • #666,364
  • Jul 6, 2012 11:55am Jul 6, 2012 11:55am
Quoting pip_trader
No problem. The learning process never ends for sure. I like to stick to a few pairs, but with moves like we've had today I like to look for other opportunities as long as they fit my system.

Do you trade gold thru options, futures, XAU/USD, etc?
Yes trade gold XAU/USD. NFP came out, eur went down and gold went up. It stabilized so bought 1 lot and then the bomb dropped. I learned my lesson last time i traded the NFP and got hit hard. Thats why i have mainly stayed out of it today. No major trades just a few cheeky scalps here and there. I made my come bk yesterday with the ECB which was what i was hoping for. Managed 2 ride it all the way to the bottom
  • #666,365
  • Jul 6, 2012 11:59am Jul 6, 2012 11:59am
My advice does not have anything to do with SLs, as long as you're footing your bills, you put them wherever you like, so with TPs.
I wouldn't call people idiots just because the marketing machine makes them believe this or that is the Holy Grail, that trading is all fun and games, a no brainer etc. Not only idiots lose.

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.
forget about tomorrow, just steal away into the night
  • #666,366
  • Jul 6, 2012 12:02pm Jul 6, 2012 12:02pm
hey gatorinla.. im really reading your comments on eurusd..please can you write your opinion about it ? thank you
  • #666,367
  • Jul 6, 2012 12:03pm Jul 6, 2012 12:03pm
Think we can make it?
Attached Image (click to enlarge)
Click to Enlarge Name: 12345 68trace.png Size: 42 KB
Founder of Sutherland Wave Principle
  • #666,368
  • Jul 6, 2012 12:05pm Jul 6, 2012 12:05pm
Quoting spekitox
My advice does not have anything to do with SLs, as long as you're footing your bills, you put them wherever you like, so with TPs.
I wouldn't call people idiots just because the marketing machine makes them believe this or that is the Holy Grail, that trading is all fun and games, a no brainer etc. Not only idiots lose.
Don't worry about him. Only a newb would show his statement and brag about it..
  • #666,369
  • Jul 6, 2012 12:06pm Jul 6, 2012 12:06pm
Quoting spekitox
Not only idiots lose.
Yes, only idiots lose consistently and there are many grades of idiots.
check out my blog: forexmademillionaire dot com
  • #666,370
  • Jul 6, 2012 12:08pm Jul 6, 2012 12:08pm
Quoting suthmo
Think we can make it?
Nice chart
  • #666,371
  • Jul 6, 2012 12:14pm Jul 6, 2012 12:14pm
Quoting Geppy
Yes, only idiots lose consistently and there are many grades of idiots.
+1
  • #666,372
  • Jul 6, 2012 12:17pm Jul 6, 2012 12:17pm
Quoting suthmo
Think we can make it?
m30 looking good so far
  • #666,373
  • Jul 6, 2012 12:19pm Jul 6, 2012 12:19pm
Quoting shmandi
m30 looking good so far
m30
Attached Image
  • #666,374
  • Jul 6, 2012 12:27pm Jul 6, 2012 12:27pm
Quoting attila
Don't worry about him. Only a newb would show his statement and brag about it..
and do you want me as requested by yourself to give you a 2x4 for posting?
  • #666,375
  • Jul 6, 2012 12:27pm Jul 6, 2012 12:27pm
Quoting scalperdebes
and do you want me as requested by yourself to give you a 2x4 for posting?
yes, smack me. thank you very much.

outta here.
  • #666,376
  • Jul 6, 2012 12:32pm Jul 6, 2012 12:32pm
imooooooooooooo
  • #666,377
  • Jul 6, 2012 12:35pm Jul 6, 2012 12:35pm
Quoting acacia357
imooooooooooooo
wouldnt be so sure daily didnt even close below 1.23 yet
  • #666,378
  • Jul 6, 2012 12:38pm Jul 6, 2012 12:38pm
Quoting crisis
hey gatorinla.. im really reading your comments on eurusd..please can you write your opinion about it ? thank you
no view.. the bigger trend since 2008 is lower. the trend this year is lower. we are below 2962.. we are below 2624.. we are below 2282... do some math and see how these look on a chart. we just had a b/o with a LL.. bigger charts since 2008 point to 0.8xx. since its not a straight line i will look to sell a bounce.. since it is a b/o we many times go back to 2547..um 2573 LM 2521.. at this point all will be screaming they were long at 2280 area and all will be bullish. at least in normal times. at this place if we get here i will be looking to short. other s/r not mentioned.
those who can, do. those who cant, talk about those who can
  • #666,379
  • Jul 6, 2012 12:43pm Jul 6, 2012 12:43pm
http://www.guardian.co.uk/business/2...rkets-pressure

Quote
Now economist Nouriel Roubinin has looked at the prospect of Finland leaving the eurozone, the Fixit in the parlance.

Spanish 10 year bonds above 6.9%.
http://www.marketwatch.com/investing...countrycode=ES
  • #666,380
  • Jul 6, 2012 12:44pm Jul 6, 2012 12:44pm
Quoting attila
Don't worry about him. Only a newb would show his statement and brag about it..
LOL, jealous much?
check out my blog: forexmademillionaire dot com
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