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  • #697,141
  • Sep 25, 2012 2:26am Sep 25, 2012 2:26am
I tried some long from 2900...
sl slightly below today's low...

let see
Patience, Emotion Control and Discipline.
  • #697,142
  • Sep 25, 2012 2:31am Sep 25, 2012 2:31am
Quoting KillerWhale
I've tried that in the past, it doesn't work.
It can only work with extremely low leverage, and yes than it always works but your profits will be minimal.

The only way to trade profitably in my eyes is that you look for en entry point with an identified stop, and then you can enter for the profit you see on the charts.
And my idea for risk/return is that R:R should always be greater than 1.
I have traded a long time with no sl in the past, but because of money management I didn't get in problems.
But I have found out that sl's make trading much easier and take less sleepless nights.
The only thing you have to refine for yourself is where to enter and where to place your sl.
If you can control your losses, don't worry about the profits, they come automatically.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #697,143
  • Sep 25, 2012 2:34am Sep 25, 2012 2:34am
USD selling accross the board, GBP and EUR climbing back
  • #697,144
  • Sep 25, 2012 2:36am Sep 25, 2012 2:36am
i got out of my long , i have to step out if possible take out 72 before i come back
Mohan
  • #697,145
  • Sep 25, 2012 2:38am Sep 25, 2012 2:38am
See if it can break back through 30
  • #697,146
  • Sep 25, 2012 2:41am Sep 25, 2012 2:41am
i think it wants to go back to 1.2935.

the sell-off we saw before seems to be just a one-off
we are currently at yesterday's levels
  • #697,147
  • Sep 25, 2012 2:41am Sep 25, 2012 2:41am
Quoting KillerWhale
I've tried that in the past, it doesn't work.
It can only work with extremely low leverage, and yes than it always works but your profits will be minimal.
Yes, I've tried trading without a stop loss before as well. It works in a ranging market but at some stage you will go in to a big draw down. And then you're out of the game until the market returns to your position.

In my experiment with trading without a stop loss I was waiting for 7 months for the trade to come good. I missed so many trades in those 7 months, just sat there waiting. I would have been so much better off if I'd had a stop loss, and then carried on trading in those 7 months.

The only way trading without a stop loss is feasible is with a substantial trading bank, or low leverage. If you have a substantial trading bank and risk it all with no stop loss you're in danger of a black swan event knocking you out of the game (and they do happen).

Don't do it - it's very stressful. Trading with good money management will be better in the long run.
  • #697,148
  • Sep 25, 2012 2:42am Sep 25, 2012 2:42am
We are still inside the descending channel, anything between 1.2972 and 1.2850 is perfectly legal, without calling it a break...

I would like it to go south to 1.2850 (perhaps after climbing to the top of the channel first, which might be hapenning right now)...
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  • #697,149
  • Sep 25, 2012 2:49am Sep 25, 2012 2:49am
Daily pivots are so close to another this morning. I have to make an exceptation to my fib calculation... Yet two trades and two wins. Looks like we will be on the heavy red side today. Anyone got a maxy pad?
He who guess is LOST!
  • #697,150
  • Sep 25, 2012 2:49am Sep 25, 2012 2:49am
Quoting mohan76
i got out of my long , i have to step out if possible take out 72 before i come back
could be good out, I have added eu Plus geppy
If you are new to Forex? Say Goodbye to your account!!
  • #697,151
  • Sep 25, 2012 2:52am Sep 25, 2012 2:52am
Quoting KiwiTrada
could be good out, I have added eu Plus geppy
yea looks lucky escape , i have pending @ 2860 don't push it too much , limit it to 58/56
Mohan
  • #697,152
  • Sep 25, 2012 2:55am Sep 25, 2012 2:55am
short @ 2917
crude short @ 9263
  • #697,153
  • Sep 25, 2012 2:55am Sep 25, 2012 2:55am
GM

there is very strong chance that we see 2670 this week, i will be eager to add more shorts if prices cross 2960
Learning Requires Failure
  • #697,154
  • Sep 25, 2012 2:58am Sep 25, 2012 2:58am
Quoting mohan76
yea looks lucky escape , i have pending @ 2860 don't push it too much , limit it to 58/56
Closed it too...looking at the 1,2866 now until i look at 1,3110
COT: The precious data ignored
  • #697,155
  • Sep 25, 2012 3:00am Sep 25, 2012 3:00am
Quoting tirmizi
GM

there is very strong chance that we see 2670 this week, i will be eager to add more shorts if prices cross 2960
1,286x will be decisive though for a move back up.
COT: The precious data ignored
  • #697,156
  • Sep 25, 2012 3:00am Sep 25, 2012 3:00am
Quoting Iktak
We are still inside the descending channel, anything between 1.2972 and 1.2850 is perfectly legal, without calling it a break...

I would like it to go south to 1.2850 (perhaps after climbing to the top of the channel first, which might be hapenning right now)...
good point to try long
IMO
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  • #697,157
  • Sep 25, 2012 3:06am Sep 25, 2012 3:06am
check out the hourly bars
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  • #697,158
  • Edited 3:28am Sep 25, 2012 3:11am | Edited 3:28am
Nice rising channel has developed on M15 TF. Already scalped a long then a short and now in at 07 TP 25 SL 97. Posting this while managing a scalp ain't nice!

Edit: Apols typo - 5M TF of course!

Regards,
Angus
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  • #697,159
  • Sep 25, 2012 3:13am Sep 25, 2012 3:13am
Same PA as yesterday during NY...so boring inside 1,29s

I guess we have to pick a side and use a wide SL
COT: The precious data ignored
  • #697,160
  • Sep 25, 2012 3:14am Sep 25, 2012 3:14am
so what did i miss? draghi fart yet?
A man is what he thinks about all day long. - Ralph Waldo Emerson
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