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  • #667,081
  • Jul 9, 2012 11:38pm Jul 9, 2012 11:38pm
Quoting inpatient
Hypothetical trading strategy,

Guys im fairly new to trading and would like to know what can potentially go wrong providing you have alot of money in your balance (say 100k) and you keep your trade lots low risking only a small amount. Surely the very high balance will allow you to hold onto losing trades long enough for a reversal?

I understand that the fact of having a losing position will mean you are not making anything whilst in them but once the price reverses you are back in the game.

Obviously trades would still be made sensibly...
Long term view to keep in mind. GL
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Time turns trend. - W.D. Gann
  • #667,082
  • Jul 9, 2012 11:48pm Jul 9, 2012 11:48pm
Quoting inpatient
Hypothetical trading strategy,

Guys im fairly new to trading and would like to know what can potentially go wrong providing you have alot of money in your balance (say 100k) and you keep your trade lots low risking only a small amount. Surely the very high balance will allow you to hold onto losing trades long enough for a reversal?

I understand that the fact of having a losing position will mean you are not making anything whilst in them but once the price reverses you are back in the game.

Obviously trades would still be made sensibly...
Learn about hedging and also how to scale in and out of positions. You can hang onto a loser if you think it's going to reverse at some stage if your account allows you to, but there's always the risk of being stuck in a so called dead trade that will just keep going against you until you're broke.
Don't get mad, get even!
  • #667,083
  • Jul 9, 2012 11:49pm Jul 9, 2012 11:49pm
Quoting ForExtraPips
Long term view to keep in mind. GL
for real man ....what the hell is that picture say.....i simply have no clue...
i mean really .....long term.....short term ........
I got maths..
  • #667,084
  • Jul 9, 2012 11:53pm Jul 9, 2012 11:53pm
nice design however
I got maths..
  • #667,085
  • Jul 9, 2012 11:53pm Jul 9, 2012 11:53pm
Quoting GreatNorth
Hey everyone,

Mostly for the newbies out there (or for the older traders to add some tools to their toolbox) I thought I'd share some information on how I read a chart and you may also learn from it. The big boys aren't here to help anyone.

Chart attached, if you have any questions I can try to help you guys out and vice versa.

My broker is Oanda and they use to provide us with weekend data, but now I don't have access to it so Mercy helped us out with letting us know that 2309/08 was the high on Sunday.

Currently, we're bouncing...
Nice chart. But maybe you should put the trend channel in there to show the breakout 2 hours ago.

1 tip for you: obviously this is an Oanda chart with your weekend setting as opening 3 pm Eastern time. If you change that to 2 pm Eastern, then you could see the sharp fall from 1.2286 to 1.2230 which happened just 1 minute before your chart opened.

But I like your chart pointing at the levels you showed.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #667,086
  • Jul 9, 2012 11:55pm Jul 9, 2012 11:55pm
[quote=ForExtraPips;5826896]Check your MT4 version, too. If that's what you're using. Might have to install latest built.[/quoteif its not one thing its the other
  • #667,087
  • Jul 9, 2012 11:59pm Jul 9, 2012 11:59pm
WTF! Ok, that's a new reason for me to hear.

GL

[quote=acacia357;5826984]
Quoting ForExtraPips
Check your MT4 version, too. If that's what you're using. Might have to install latest built.[/quoteif its not one thing its the other
  • #667,088
  • Jul 10, 2012 12:09am Jul 10, 2012 12:09am
http://www.zerohedge.com/news/future...g-irregularity
  • #667,089
  • Jul 10, 2012 12:12am Jul 10, 2012 12:12am
Quoting KillerWhale
Nice chart. But maybe you should put the trend channel in there to show the breakout 2 hours ago.

1 tip for you: obviously this is an Oanda chart with your weekend setting as opening 3 pm Eastern time. If you change that to 2 pm Eastern, then you could see the sharp fall from 1.2286 to 1.2230 which happened just 1 minute before your chart opened.

But I like your chart pointing at the levels you showed.

@Killerwhale____I'm Just interested in knowing ... i have seen you are mostly a bear trader over the last 6 months. Do you ever take any contrarian positions?? Those "its fallen for too long" kind that makes you purposely long when pointers are clearly bearish and hoping for a retrace or something? Would have asked @fatpanda the same but I have not seen him here in a while.
  • #667,090
  • Jul 10, 2012 12:17am Jul 10, 2012 12:17am
Quoting Mr.MaginCole
@Killerwhale____I'm Just interested in knowing ... i have seen you are mostly a bear trader over the last 6 months. Do you ever take any contrarian positions?? Those "its fallen for too long" kind that makes you purposely long when pointers are clearly bearish and hoping for a retrace or something? Would have asked @fatpanda the same but I have not seen him here in a while.

"its fallen for too long"

its the most used system. ever i bet....lol
StopLoss is for none belivers... Trust the Gurus..
  • #667,091
  • Jul 10, 2012 12:33am Jul 10, 2012 12:33am
Quoting ForExtraPips
Long term view to keep in mind. GL
Did you ever follow this analysis?
According to your chart, there are so many false break happened. It will blow someone's account who is seeking for a bit longer term signal.
Analysis is not just some fine arts.
You cannot learn better without losing
  • #667,092
  • Jul 10, 2012 12:34am Jul 10, 2012 12:34am
Quoting forexings
<br />
<br />
Did you ever follow this analysis?
According to your chart, there are so many false break happened. It will blow someone's account who is seeking for a bit longer term signal.
Analysis is not just some fine arts.
one shud have sound money management tactics, to deal with fake outs.
Stick with your idea
  • #667,093
  • Jul 10, 2012 12:38am Jul 10, 2012 12:38am
Quoting Mr.MaginCole
@Killerwhale____I'm Just interested in knowing ... i have seen you are mostly a bear trader over the last 6 months. Do you ever take any contrarian positions?? Those "its fallen for too long" kind that makes you purposely long when pointers are clearly bearish and hoping for a retrace or something? Would have asked @fatpanda the same but I have not seen him here in a while.
I take many long trades when I see proper support.
Yesterday I started long 1 minute after Oanda opening with a 48 pip result.
Only my sl on longs is tighter than on shorts at the moment.

Maybe London will give us a chance to go long.
Actually I think we're too low for bigger shorts. I'd rather short from 1.24xx
New voice message: Why are you calling me? If I need you, I'll call you!
  • #667,094
  • Jul 10, 2012 12:42am Jul 10, 2012 12:42am
Quoting KillerWhale
Nice chart. But maybe you should put the trend channel in there to show the breakout 2 hours ago.

1 tip for you: obviously this is an Oanda chart with your weekend setting as opening 3 pm Eastern time. If you change that to 2 pm Eastern, then you could see the sharp fall from 1.2286 to 1.2230 which happened just 1 minute before your chart opened.

But I like your chart pointing at the levels you showed.
Thanks for the tips.

Unfortunately Oanda doesn't offer data prior to 3pmEST as of this weekend-->Bastards!

I have a separate chart for channels cause to many lines messes up the chart.
  • #667,095
  • Jul 10, 2012 12:42am Jul 10, 2012 12:42am
Mornin', 'gents.

After reading the COT myself, and trying to decipher to my best, we could hit a bottom here, if there are no negative news from the EU, given that the 3 months orders on EU FX are almost equal.

From a technical point of view, we have supports at 1.2285 and 1.2255. Next support would be 1.220ish, and 1.215ish.

Resistances are present on the upside at 1.2300 (round and psych number), 1.231ish-1.2320, 1.2360 to a maximum move without any kind of good news or intervention to 1.2390-1.24.

From a fundamental point of view, 'gents, the euro is in deep shit, so expect rallies on every type of good news that comes out of the EU, especially from ECB officials or Merkel.

Though it's not expected, be on the lookout for QE3 hints from FED officials or Bernanke himself, they have the gift and ability to manipulate with a single word.

Safe trading, see you on the thread.

PS : If someone disagrees with these figures, post, and we'll discuss about them.
Please, just slap me around if I'm being silly ...
  • #667,096
  • Jul 10, 2012 12:50am Jul 10, 2012 12:50am
good morning.
320 has kept bulls from going higher so far. bear flag has been broken to downside. so i'm looking for short at frankie open if i get proper setup. from there anything can happen. i stay in short mode while below 320
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  • #667,097
  • Jul 10, 2012 12:53am Jul 10, 2012 12:53am
Quoting KillerWhale
I take many long trades when I see proper support.
Yesterday I started long 1 minute after Oanda opening with a 48 pip result.
Only my sl on longs is tighter than on shorts at the moment.

Maybe London will give us a chance to go long.
Actually I think we're too low for bigger shorts. I'd rather short from 1.24xx
ye ur are lucky with oanda starting earlier, i saw oanda reached somewhere 1.2230 zone a spike down, and then recovered to open near 1.2260, before heading for 1.2285.

shorting near here is not really a good position. can be stop out by spike bulls.
  • #667,098
  • Jul 10, 2012 12:55am Jul 10, 2012 12:55am
Quoting GreatNorth
Thanks for the tips.

Unfortunately Oanda doesn't offer data prior to 3pmEST as of this weekend-->Bastards!

I have a separate chart for channels cause to many lines messes up the chart.
I have set my weekend opening @ 2 pm Eastern (for me - 11 AM Pacific) and it shows the drop very cute and clear. Just go to "tools" and it shows directly under "charts"
Weekend Start and Weekend End. Just go to the drop down after Weekend End and choose 1 hour earlier than it shows now.
Press "Apply" and "Save" and you're all set.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #667,099
  • Jul 10, 2012 1:01am Jul 10, 2012 1:01am
Quoting 5percent
ye ur are lucky with oanda starting earlier, i saw oanda reached somewhere 1.2230 zone a spike down, and then recovered to open near 1.2260, before heading for 1.2285.

shorting near here is not really a good position. can be stop out by spike bulls.
I got in @ 1.2242
New voice message: Why are you calling me? If I need you, I'll call you!
  • #667,100
  • Jul 10, 2012 1:33am Jul 10, 2012 1:33am
market and this forum both are dead...RIP
Stick with your idea
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