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  • #684,741
  • Aug 27, 2012 8:02pm Aug 27, 2012 8:02pm
Good morning champs, seems market did not move much for my liking, back to fishing.
"Men who can both be right and sit tight are uncommon."
  • #684,742
  • Aug 27, 2012 8:04pm Aug 27, 2012 8:04pm
where is noda ? yen loosing lot , did he pressed wrong button ?
Mohan
  • #684,743
  • Aug 27, 2012 8:04pm Aug 27, 2012 8:04pm
Oh wow. You'd think Greece had left the Euro; this is _nuts_ for Asian session.
Offering $1.50 (21%)/RTL Commission Discounts at IC Markets & Global Prime
  • #684,744
  • Aug 27, 2012 8:05pm Aug 27, 2012 8:05pm
Quoting NewbTrader7
ugh, I had a really good exit from that 2533 short and was looking to reenter a short at around 2507 but missed it by a few pips and was taking a nap ;/...I'm hoping she bounces back before london open to get into another position. sitting on the sidelines until then.
its okay we all mess up sometimes, like me closing early and getting no bounce from 2481, be happy with your pips, and maybe leave part of position open so incase it keeps going past your TP you get a bonus
Be hopeful in a winning position, and fearful in a losing position.
  • #684,745
  • Aug 27, 2012 8:05pm Aug 27, 2012 8:05pm
Quoting Mike8
Good morning champs, seems market did not move much for my liking, back to fishing.
ohps , it did, my audjpy and usdjpy shorts are giving me sugar, still back to fishing tough, be back at 2.00 my time.

EDIT: seems more I fish, more money I make, helps me to sit tight.
"Men who can both be right and sit tight are uncommon."
  • #684,746
  • Aug 27, 2012 8:08pm Aug 27, 2012 8:08pm
Quoting Rag2RichesFX
its okay we all mess up sometimes, like me closing early and getting no bounce from 2481, be happy with your pips, and maybe leave part of position open so incase it keeps going past your TP you get a bonus
I know man, I'm trying to get out of this mentality. I take this as a loss but I need to start seeing it as a win. Not winning is better than losing and like you said, I should be happy with what I got, which was plenty enough for the day but you know us humans and our psyche levels, we're always trying for more, its the GREED factor. lol. I gave you a shout out on an earlier post. You helped me out a lot on my last trade and I'm grateful for that. Thank you.

I'm thinking euro goes to 2460 where I have a pending limit order for a long back up to 2510. I'm thinking a long from here because its the demand area for when the break out on the 22nd happened. The dollar index futures is also reaching the top of that rising channel and nearing the 200 day moving average. I'm seeing dollar index falling and currencies against it rising.

Whats your bias?
  • #684,747
  • Aug 27, 2012 8:11pm Aug 27, 2012 8:11pm
Quoting jnevins
Win percentage = 42% - Using tight stops works.

How tight... what time frame?
2.5-5 pips usually. Sometimes 5-10 but only if the entry is off of higher TF like 4hr, such as yesterday never more than 10. If you have a tight enough spread taking lots of losses and re entering is better than letting a loss float, imo, because you re enter with a spread between where you exited with a loss, but if you let it float, you capture all the loss

if you have spreads of more than 1.5 its harder to do effectively but still can be done, i did it with spreads of 2 pips for a while, but saved 25-50 pips per day once my spreads improved to 1 pip (25-50 orders per day)
Be hopeful in a winning position, and fearful in a losing position.
  • #684,748
  • Aug 27, 2012 8:11pm Aug 27, 2012 8:11pm
Quoting xandi
GOING OFF... CLOSING POSTION

On the daily chart it´s seems to go consolidate near 1.2420/2400.
On Monthly chart, is pointing to close at this exactly price, 1.2510 +/- on end of the month.
On weekly is pointing also to close at this level, but before it should go back to 1.2400, and after again up.


Close my position now at Breakeven, and entered pending order to buy at 1.2440, with TP 1.2510 and SL 1.2370. At Asia I´ll try to figure out better this cenario, because maybe the price can take a last breath and touch 1.2620 Resistance...

going to sleep reminding and making replay of the moment I jumped off 4 hours ago at 1.2510...
best of luck to all, always!!
  • #684,749
  • Aug 27, 2012 8:16pm Aug 27, 2012 8:16pm
1.2452 before it goes up?
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Time turns trend. - W.D. Gann
  • #684,750
  • Edited 8:29pm Aug 27, 2012 8:16pm | Edited 8:29pm
Quoting xandi
Not bad for a day like that!! I like your analisys, pragmatism and point of views!! following...
Yup it took long enough, at least I was sleeping through the end of London and NY session as well. Took what, 10 hours to down 30 pips?


Well, 2480 offered no support whatsoever...

made a mistake closing so early without seeing any bullishness but thats why i only close partials, so at least got 20% of position still going on this move, now targetting 2450, maybe will re enter short on a pull back

edit: thanks for the kind words
Be hopeful in a winning position, and fearful in a losing position.
  • #684,751
  • Aug 27, 2012 8:17pm Aug 27, 2012 8:17pm
Why is this market moving as much during Asian period? Mohan, do you know anything? Or is it Kiwi eating more steak?
"Men who can both be right and sit tight are uncommon."
  • #684,752
  • Aug 27, 2012 8:20pm Aug 27, 2012 8:20pm
Quoting Mike8
Why is this market moving as much during Asian period? Mohan, do you know anything? Or is it Kiwi eating more steak?
i wake up littlle late

i can see 4 headlines on broker feed (mel time)

Quote

11:01 AM
AUSTRALIAN JULY NEWLY BUILT HOME SALES FALL 5.6% VS MONTH AGO

11:01 AM
CHINA JULY PRODUCER PRICES FALL 0.8% M/M

10:48 AM
Big drop in the kiwi after the world's biggest dairy exporter, Fonterra, cut its 2013 payout forecast

10:03 AM
JAPAN CUTS ASSESSMENT OF DOMESTIC ECONOMY



Mohan
  • #684,753
  • Aug 27, 2012 8:20pm Aug 27, 2012 8:20pm
Quoting NewbTrader7
I know man, I'm trying to get out of this mentality. I take this as a loss but I need to start seeing it as a win. Not winning is better than losing and like you said, I should be happy with what I got, which was plenty enough for the day but you know us humans and our psyche levels, we're always trying for more, its the GREED factor. lol. I gave you a shout out on an earlier post. You helped me out a lot on my last trade and I'm grateful for that. Thank you.

I'm thinking euro goes to 2460 where I have a pending limit order for a long back up to...
Yeah its the greed factor and not wanting to miss the big move down.

No problem im glad to help if i can

Bias is 2430 will hold. Could be 2440 or 2450 as well.

We just bounced off the 4HR open for the last big up move, 2467
Be hopeful in a winning position, and fearful in a losing position.
  • #684,754
  • Aug 27, 2012 8:21pm Aug 27, 2012 8:21pm
Quoting Rag2RichesFX
Yup it took long enough, at least I was sleeping through the end of London and NY session as well. Took what, 10 hours to down 30 pips?


Well, 2480 offered no support whatsoever...

made a mistake closing so early without seeing any bullishness but thats why i only close partials, so at least got 20% of position still going on this move, now targetting 2450, maybe will re enter short on a pull back
But its better to take profits than see it bounce and see you profits disappearing. However why is it that when you leave trade in it always bounce and when you take profit it always breaks support or resistance? It can be absolutely infuriating!
  • #684,755
  • Aug 27, 2012 8:23pm Aug 27, 2012 8:23pm
Quoting mohan76
i wake up littlle late

i can see 4 headlines on broker feed (Local time)
Ok, Thank you. Off to yoga classes. There is a particular student, she has such long legs, brings me Nirvana much closer.
"Men who can both be right and sit tight are uncommon."
  • #684,756
  • Aug 27, 2012 8:23pm Aug 27, 2012 8:23pm
Quoting mohan76
where is noda ? yen loosing lot , did he pressed wrong button ?
uj still in down trend, retesting 78.30, maybe even 78, short from 78.81
Be hopeful in a winning position, and fearful in a losing position.
  • #684,757
  • Aug 27, 2012 8:28pm Aug 27, 2012 8:28pm
Quoting CoolJL
But its better to take profits than see it bounce and see you profits disappearing. However why is it that when you leave trade in it always bounce and when you take profit it always breaks support or resistance? It can be absolutely infuriating!
Yeah agreed, and that does seem to happen a lot. But not as much lately. For example if you took profit on the first test of 2430/40, i doubt it would break straight down through it without any bids

but apparently 2490 was the new 2481, thanks to yesterdays bids at that level from us bank, 2481 didnt matter at all, it saw no bids.

once 2490 broke that was it for the bulls for a little while, oh well, i can always re enter on a retrace
Be hopeful in a winning position, and fearful in a losing position.
  • #684,758
  • Aug 27, 2012 8:30pm Aug 27, 2012 8:30pm
Quoting Rag2RichesFX
uj still in down trend, retesting 78.30, maybe even 78, short from 78.81
yeh QE hope and economic down trend should make yen stronger , only NODA can weaken yen
Mohan
  • #684,759
  • Aug 27, 2012 8:33pm Aug 27, 2012 8:33pm
long 2467 stop 2465, little scalp here, would be happy with 2475.
Be hopeful in a winning position, and fearful in a losing position.
  • #684,760
  • Aug 27, 2012 8:35pm Aug 27, 2012 8:35pm
Quoting Rag2RichesFX
but apparently 2490 was the new 2481, thanks to yesterdays bids at that level from us bank, 2481 didnt matter at all, it saw no bids.

Where do you find out these things, where the orders are?
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