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  • #678,541
  • Aug 10, 2012 8:09am Aug 10, 2012 8:09am
Now that m15 is above it, it should go up to 79, unless if falls strongly within this candle..
  • #678,542
  • Aug 10, 2012 8:10am Aug 10, 2012 8:10am
retracement not there yet but we are close.
  • #678,543
  • Aug 10, 2012 8:11am Aug 10, 2012 8:11am
The question is , is 590 the real low for August 8th of 2012 ? ( there seems to be 50 pips missing from the entire daily range between 80 and 120 !

so, either we jump to 23350 to correct that or we dive till 150 ! Long pray Super Mario do something and short Pray for Merkel

I'm Short BTW from 750 - which was suppose to b the 2/3 of my target zone, and i decided not to risk it and join Long and take cover again .. Which mean i'm still holding the position !
"It's the Margin, Stupid."
  • #678,544
  • Aug 10, 2012 8:12am Aug 10, 2012 8:12am
Quoting attila
Now that m15 is above it, it should go up to 79, unless if falls strongly within this candle..
looks 69 fight hard 3 more min
Mohan
  • #678,545
  • Aug 10, 2012 8:14am Aug 10, 2012 8:14am
Hi guys, i'm newbie and have been learning a lot on this thread,, i'm not so good at technical as i 'm still learning.. but i think that a lot of people will close they short soon.. if it can't hold below 1.2280.. for those who is shorting.. stop loss or hedge.. bear has been pretty weak through the weak as well as bull.. consolidation is the right word.. i guess.. if you are looking to hedge,, don't forget to put on desired TP as it's the most important.. i've been hedging the market since june.. and it's been great return on my account so far.. all the best of luck .. and ps* Fed reserve trade balance is coming
  • #678,546
  • Aug 10, 2012 8:15am Aug 10, 2012 8:15am
closed 3/4 of my positions @ 65, I am lacking patience for any more downside (even though charts are screaming 2200/10/20)

Happy with this week, over +200 pips (nothing special but a decent week)

Calling it a week early

NewbTrader I am going to PM you as you have a decent size account I don't want you to blow when new to forex. Especially now that you have that huge profit cushion (well, 40% isnt so huge, as you say you risk 30% on a trade...)

Edit: Lmao right after I close we get down move with momentum..
Be hopeful in a winning position, and fearful in a losing position.
  • #678,547
  • Aug 10, 2012 8:15am Aug 10, 2012 8:15am
Quoting mohan76
looks 69 fight hard 3 more min
71 could be worse.
  • #678,548
  • Aug 10, 2012 8:15am Aug 10, 2012 8:15am
Quoting attila
It does that a lot.. The close is what matters.. A close back above means failure. Those I like.. I told you guys to pay attention to 59 here.. Could be just a bounce or something larger as this is a daily level.. As it's a higher TF level I want at least an h1 close below.. An open and a close is even better. Otherwise I take it as a failure.

Did you get my PM?
yes, thank you - saw it today - I was a surprise, nice one - have read a little about tick chart and how it works but don't know yet how to get it or how to set it
  • #678,549
  • Aug 10, 2012 8:17am Aug 10, 2012 8:17am
It it gets to 79 and stays above it, then 2304 again.
  • #678,550
  • Aug 10, 2012 8:18am Aug 10, 2012 8:18am
market is really thin still, more like moves around by market makers too many fake out at each point on the smaller timeframe. stock market's open should show the real direction.
  • #678,551
  • Aug 10, 2012 8:19am Aug 10, 2012 8:19am
Quoting attila
It it gets to 79 and stays above it, then 2304 again.
Attila, i hate to disappoint you - it won't ... But let us see, maybe you are right !
"It's the Margin, Stupid."
  • #678,552
  • Aug 10, 2012 8:20am Aug 10, 2012 8:20am
Quoting attila
71 could be worse.
yep, was pretty bad..
  • #678,553
  • Aug 10, 2012 8:20am Aug 10, 2012 8:20am
Quoting Vachus
Attila, i hate to disappoint you - it won't ... But let us see, maybe you are right !
I know, I was watching certain levels here as posted..It'll take a while to work this 59 out..
  • #678,554
  • Aug 10, 2012 8:20am Aug 10, 2012 8:20am
Quoting Vachus
The question is , is 590 the real low for August 8th of 2012 ? ( there seems to be 50 pips missing from the entire daily range between 80 and 120 !

so, either we jump to 23350 to correct that or we dive till 150 ! Long pray Super Mario do something and short Pray for Merkel

I'm Short BTW from 750 - which was suppose to b the 2/3 of my target zone, and i decided not to risk it and join Long and take cover again .. Which mean i'm still holding the position !
the real test is at 1.22441 . we only seen , 30% of support over here. if that level breaks , a sharp retrace then dive back down . if thats what u planned.
  • #678,555
  • Aug 10, 2012 8:21am Aug 10, 2012 8:21am
Now, the third wave should end at 440 / 10 something has 4 in it. Then , it consildated or zig zag alittle bit between 440 and 550 - to come the last wave IV and drive it till 330 or even lower ...

Lets wait and see
"It's the Margin, Stupid."
  • #678,556
  • Aug 10, 2012 8:21am Aug 10, 2012 8:21am
Nice rebound, looks like it was just a retrace/stophunt before the real short move.

I hope everyone went long now, like that dippy noob screamed....
  • #678,557
  • Aug 10, 2012 8:22am Aug 10, 2012 8:22am
Quoting Rag2RichesFX
If you can make 40% per week (about what you made this week) while keeping risk below 2% per day, then I think that's very, very good.

Me personally, I only risk 0.25% per day, trying to make 0.50%-1.00% per day. Most trades have 0.03-0.10% risk and targets of 0.20%-1.00%.

Then I have a small account which risks 5% per day going for 10-20% per day.

But if that is a small account for you, and not all the money you wish to risk while trading, then you can risk a larger % if you want (which you already do I see)

I would only trade 5% of...
40% per week? Juice, I really suck as I trader, I though I did well with my 3.65 %. I think I am going to look for another job, I am such a loser..

Good luck all, I am done with forex (just like the other guy)..
"Men who can both be right and sit tight are uncommon."
  • #678,558
  • Aug 10, 2012 8:22am Aug 10, 2012 8:22am
Quoting attila
I know, I was watching certain levels here as posted..It'll take a while to work this 59 out..
BTW, as you know me , when i actually wrote the message i saw the price at 720 - not right now ...
"It's the Margin, Stupid."
  • #678,559
  • Aug 10, 2012 8:23am Aug 10, 2012 8:23am
Quoting attila
I know, I was watching certain levels here as posted..It'll take a while to work this 59 out..
pre ny push down like yesterday
Mohan
  • #678,560
  • Aug 10, 2012 8:23am Aug 10, 2012 8:23am
Quoting Rag2RichesFX
If you can make 40% per week (about what you made this week) while keeping risk below 2% per day, then I think that's very, very good.

Me personally, I only risk 0.25% per day, trying to make 0.50%-1.00% per day. Most trades have 0.03-0.10% risk and targets of 0.20%-1.00%.

Then I have a small account which risks 5% per day going for 10-20% per day.

But if that is a small account for you, and not all the money you wish to risk while trading, then you can risk a larger % if you want (which you already do I see)

I would only trade 5% of...
Over the years I've seen the very same moves and cannot fathom what I would feel if in a few minutes my account was wiped out. I don't consider myself a good trader but can say I've learned my lessons, some the hard way and some fairly easily, but overall I feel like my finger on the trigger is the best stop loss. I take your opinion and words of wisdom with open arms and shall try and incorporate stop losses into my strategy.
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