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EURUSD

  • #713,861
  • Nov 2, 2012 4:01pm Nov 2, 2012 4:01pm
Good WE everyone !! have fun
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #713,862
  • Nov 2, 2012 4:01pm Nov 2, 2012 4:01pm
Quoting Chicky
I can see a perfect H&S on Daily.

PA normally stays near a good support/resistance just before NFP release. No matter where it goes from there, hits that s/r first.

The direction becomes clear many hours after the news release. Follow pa to the direction which seems heavy for pa to carry but it keeps on inching in that direction hours after the news.
As did I bro. Made a wheelbarrow of money last night. Just closed my shorts now

Can you help me carry it home?
Even the worst trade can close with profit. Just give it time.
  • #713,863
  • Nov 2, 2012 4:01pm Nov 2, 2012 4:01pm
Quoting Jay Walker
Apparently, the pair will go up next week. Promise!!!!
I love a good tip - gets the adrenalin going
  • #713,864
  • Nov 2, 2012 4:02pm Nov 2, 2012 4:02pm
Quoting a16908
Please see the screen shot. As being a senior every one out there advice me as I am learning carve, as I need advice friends.
If that my account , i would rule out the lose on two things :

1- It is too big to be digested
2- If i exist the position , what am i going to do ? Because clearly you can't short down there... so you sit down like a stupid , wondering why did you close it. Till now - i don't see further down could happen and i don't see upward happening to. If you were lucky, the range will be in play and EUR will start recovering - if not , maybe we will see 1.27 or 1.26 if the range was broken ! ( I actually support 1.27 , but you never now )

So , i would keep it open and if it i didn't see a strong and i mean strong rejection - up to 4 hours at this two levels 1.28050 and 1.27500 , i would close 50 of the position and keep half of the loses , hoping for the jump up
to recover from the other half ...

that's what i will do , and i will consider that i lose the money anyway

And please , Please , please - if you managed to get out of this position " Use a fucking stop lose "
"It's the Margin, Stupid."
  • #713,865
  • Nov 2, 2012 4:03pm Nov 2, 2012 4:03pm
Quoting Jay Walker
Noooooooooooooooooooooooooooo chazzle! NWSTrading will call you an asshole too. Apparently, the pair will go up next week. Promise!!!!

I'm starting to remember why I was gone so long.
The beauty of forex trading. It will do both.

Just remember, even the worst trade WILL close out in profit, if you can give it the equity and the thing nobody realises, give it the time.
Even the worst trade can close with profit. Just give it time.
  • #713,866
  • Nov 2, 2012 4:05pm Nov 2, 2012 4:05pm
Quoting NWSTrading
Only reason I called you that is because of your blind leading the blind comment. You could have just offered your advice without the insult. Precisley why I seldom post. If the guy is already that far underwater it may behoove him to let it run a bit. Maybe not. PEACE!
Oh that's not an insult.
Not all sins are created equal
  • #713,867
  • Nov 2, 2012 4:05pm Nov 2, 2012 4:05pm
Quoting a16908
Will eur/usd go up from here or down to 1.2800, I am in bad position. ADVICE
use stop loss and MM
  • #713,868
  • Nov 2, 2012 4:05pm Nov 2, 2012 4:05pm
Quoting NWSTrading
Only reason I called you that is because of your blind leading the blind comment. You could have just offered your advice without the insult. Precisley why I seldom post. If the guy is already that far underwater it may behoove him to let it run a bit. Maybe not. PEACE!
ThanQ for understanding my feeling brother, now please be frnz to all. See my screen shot and advice.
  • #713,869
  • Nov 2, 2012 4:08pm Nov 2, 2012 4:08pm
Quoting John Gray
The beauty of forex trading. It will do both.

Just remember, even the worst trade WILL close out in profit, if you can give it the equity and the thing nobody realises, give it the time.
I agree with you. Except that most don't have enough equity or time.
Not all sins are created equal
  • #713,870
  • Nov 2, 2012 4:15pm Nov 2, 2012 4:15pm
Quoting chazzle
RR is not good with that entry - we could easily retrace to 880 S/R and still have a bearish bias within the range - a sell limit just below 880 , taking some off the table around 800 and aiming for 720 on the rest would be better - if you think it might break out - as I see it , IMHO , etc etc
Thanks for your advice, seems to be a good way of playing this, without needing to wonder if it's gonna retrace from 1.2800 or go straight down.
  • #713,871
  • Nov 2, 2012 4:15pm Nov 2, 2012 4:15pm
Quoting Vachus
If that my account , i would rule out the lose on two things :

1- It is too big to be digested - only a margin call shoved down my throat will be enough
2- If i exist the position , what am i going to do ? Because clearly you can't short down there. if the momentum is there and we break the range , yes - you can short down there.. so you sit down like a stupid , wondering why did you close it.that is the price you pay for going in too heavy in the first place with no stop loss.
notes in red - mofos need to learn about money management before analysis
  • #713,872
  • Nov 2, 2012 4:17pm Nov 2, 2012 4:17pm
next week what should we expect?

http://i.imgur.com/bmBtn.png
  • #713,873
  • Nov 2, 2012 4:18pm Nov 2, 2012 4:18pm
Quoting Jay Walker
I agree with you. Except that most don't have enough equity or time.
Then good luck to you.

I have heard many stories of people losing $50,000 etc etc. But those people have not learnt simply principles of money management. Stop losses/counter trades/hedging whatever trader you are, you need to have some system in place to protect equity.

Personally I trade small for smaller movements 10,20,30 pips. Then I increase leverage (which is still very safe) for large breakouts such as the 1.2926 last night. I was harping on all week about it so I am glad it happened finally happened.

I know everybody hates people posting successful trades so I have provided what I see happening on Monday/Tuesday next week in the next post.

Will keep updated throughout the week.


Have a good weekend traders!
Even the worst trade can close with profit. Just give it time.
  • #713,874
  • Nov 2, 2012 4:22pm Nov 2, 2012 4:22pm
Quoting a16908
Please see the screen shot. As being a senior every one out there advice me as I am learning carve, as I need advice friends.
I havn't look e/u at all those days...
but what was your trading plan in the begining of the trade?

check your plan again. if it looks shity now, then make a new plan, with new s/l and new t/p levels.

to me 1.30 is far far far away for e/u that is testing the last support.
if you want to remain long find a better t/p target.

if brakes 1.28 then next first target is 1.2650
  • #713,875
  • Nov 2, 2012 4:24pm Nov 2, 2012 4:24pm
Quoting John Gray
Then good luck to you.

I have heard many stories of people losing $50,000 etc etc. But those people have not learnt simply principles of money management. Stop losses/counter trades/hedging whatever trader you are, you need to have some system in place to protect equity.

Dude, I don't know why you're saying "good luck". I'm actually agreeing with you.

If you do a search on Google for forex material, you will find countless "systems" and robots. I have never seen a fly-by-night operation sell material related to money management. Money management isn't sexy and money management doesn't sell.

But money management is the difference between staying in business or not.

Money management should be the first thing discussed in trading but sadly, it usually is not. I myself would have saved tons of money and grief if I would have learned that first. I didn't get a margin call and hopefully never will. But I did have to seriously study on that topic to be a better trader.
Not all sins are created equal
  • #713,876
  • Nov 2, 2012 4:24pm Nov 2, 2012 4:24pm
Quoting chazzle
notes in red - mofos need to learn about money management before analysis
Chazzle, i'm not disagreeing with you - and he has also to consider your opinion. ( 25% lose is not a big thing at all ) I'm not saying that Price MUST GO UP or there is not momentum to drive it down. everything could happen , but i'm having my bet on the up move - but it will take time , ...
"It's the Margin, Stupid."
  • #713,877
  • Nov 2, 2012 4:25pm Nov 2, 2012 4:25pm
Quoting John Gray
The beauty of forex trading. It will do both.

Just remember, even the worst trade WILL close out in profit, if you can give it the equity and the thing nobody realises, give it the time.
12 years I been short on the kiwi/dollar .....
  • #713,878
  • Nov 2, 2012 4:26pm Nov 2, 2012 4:26pm
Hi all,

Market is closed hope you all had green pips. This morning before close we had a bounce off the 1.2825 support (It's a zone so I used 2825 as a nice figure).

Next week either the bounce will continue on to test my old 0 fib, which is around 1.2882 or continue downwards move breaking 2825 support and down to test 1.2800.

Will stay posted.


John
Attached Image (click to enlarge)
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Even the worst trade can close with profit. Just give it time.
  • #713,879
  • Nov 2, 2012 4:26pm Nov 2, 2012 4:26pm
The weekend is here!!
  • #713,880
  • Nov 2, 2012 4:26pm Nov 2, 2012 4:26pm
Quoting masterpulha
next week what should we expect?

http://i.imgur.com/bmBtn.png
either/or situation - just enjoy the weekend - not too much crack this time though , you hear?
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