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Trading EURUSD only

  • #11,181
  • Nov 9, 2012 2:19am Nov 9, 2012 2:19am
Stimulus, are you long term or day trading?

Quoting Stimulus
I closed shorts earlier today at 1.2725. Reentered 1.2772. I waited for a 1hr fractal to help confirm.
  • #11,182
  • Nov 9, 2012 2:20am Nov 9, 2012 2:20am
Sorry for bothering man, I did not see this post

Quoting Stimulus
Money managament.

"50 ways" to make money in FX. All can be profitable with discipline.
  • #11,183
  • Nov 9, 2012 2:21am Nov 9, 2012 2:21am
Quoting nztrader
Nice strategy, how many trades a week do you go for? And what is your average pip taking from each trade?
LOL i got distracted and put the same T/P and entry for my trade, so just entered and exited lolol... just missed a 10 pip move, D: 100$

I am only recently profitable so I can't tell yet... but thus far I am keeping my R:R at about 1:1 ~ 1:2, my win rate is very high, 1 loser/ 5-6 winners?

5-15 pips depending, I might close early if I don't like the price action.
Build good relationships with others.
  • #11,184
  • Nov 9, 2012 2:27am Nov 9, 2012 2:27am
we have a short term bottom here.
Build good relationships with others.
  • #11,185
  • Nov 9, 2012 2:28am Nov 9, 2012 2:28am
Quoting shellsnail
LOL i got distracted and put the same T/P and entry for my trade, so just entered and exited lolol... just missed a 10 pip move, D: 100$

I am only recently profitable so I can't tell yet... but thus far I am keeping my R:R at about 1:1 ~ 1:2, my win rate is very high, 1 loser/ 5-6 winners?

5-15 pips depending, I might close early if I don't like the price action.
Seems similar to my strategy and similar success rates. I usually go for 20 pips and depending on the price action and momentum, I will sometimes let the trade run.

I do however have a bad habit of closing out trades early, usually when PA looks like it is bouncing. I have missed some big movements this week from closing out too early, however I am still learning.
  • #11,186
  • Nov 9, 2012 2:30am Nov 9, 2012 2:30am
Quoting shellsnail
we have a short term bottom here.
Yea looks like potential support at 1.2742
  • #11,187
  • Nov 9, 2012 2:30am Nov 9, 2012 2:30am
Quoting shellsnail
we have a short term bottom here.
(I actually opened a buy order to hedge the losses from the long-term position here)

if we don't see some significant up move soon I might be wrong
Build good relationships with others.
  • #11,188
  • Nov 9, 2012 2:38am Nov 9, 2012 2:38am
Quoting nztrader
Yea looks like potential support at 1.2742
Touching yesterdays lower trendline.Which means it could retrace up a little from here.Also daily pivot point.
  • #11,189
  • Nov 9, 2012 2:38am Nov 9, 2012 2:38am
Quoting nztrader
Entered Short @ 1.2761
SL 10 pips
1st TP 1.2741
2nd TP 1.2713 (Pivot Line)
1st TP achieved.
  • #11,190
  • Nov 9, 2012 2:40am Nov 9, 2012 2:40am
Quoting wingou
Update : IMHO a good short entry can be 1.2780-85 with SL @1.2792
Maybe this corrective pullback will occurs during the US session. But I think this market is definitely bearish until Draghi speech (tomorrow). IMO markets are expecting/anticipating a rate cut in the EZ and so there is a bearish bias...

Take care with long position, trade safe
Ok I wasn't very precise on when it will hapening, but does someone took it ?
  • #11,191
  • Nov 9, 2012 2:40am Nov 9, 2012 2:40am
Quoting shellsnail
(I actually opened a buy order to hedge the losses from the long-term position here)

if we don't see some significant up move soon I might be wrong
I am more concerned with 1.2732 myself. It is the H1 fractal for the up move to 1.2788.
If we break 1.2732 I will move stops to BE+1, and wait for yesterday lows to be tested.
"My 2 cents"
  • #11,192
  • Nov 9, 2012 2:43am Nov 9, 2012 2:43am
Quoting shiko
Stimulus, are you long term or day trading?
I trade waves till i see correction looming. Then I reenter with trend at better position. More pips that way. ZIGZAG sideways moves are the only flaw.
"My 2 cents"
  • #11,193
  • Nov 9, 2012 2:48am Nov 9, 2012 2:48am
are you into Elliot waves? I am trying to learn.

Quoting Stimulus
I trade waves till i see correction looming. Then I reenter with trend at better position. More pips that way. ZIGZAG sideways moves are the only flaw.
  • #11,194
  • Nov 9, 2012 2:50am Nov 9, 2012 2:50am
I am generally good with entries. but I prefer to stay through corrections and day trade other instruments. it can mess me to long term and day trade same thing. well, it messed me already from listening around here

Quoting shiko
are you into Elliot waves? I am trying to learn.
  • #11,195
  • Nov 9, 2012 2:52am Nov 9, 2012 2:52am
If we do not make new lows by 0730, I will look to close shorts.
reasons:
1) I have noticed Dollar index reversals once NY and chicago boys come online
2) US stocks may do a dead cat bounce, more so since it is Friday.

Not always the rule, but it happens alot.
"My 2 cents"
  • #11,196
  • Nov 9, 2012 2:56am Nov 9, 2012 2:56am
Quoting shiko
I am generally good with entries. but I prefer to stay through corrections and day trade other instruments. it can mess me to long term and day trade same thing. well, it messed me already from listening around here
I bought "The wave Principle" hardback.
Toilet reading only, seriously. I have picked up some of the rules for entries and exits, but wave counts in flats and zigzags mess me up.
"My 2 cents"
  • #11,197
  • Nov 9, 2012 2:58am Nov 9, 2012 2:58am
It is hard, but it works. It actually fried my brain. i would say it doe snot exists had not I known a guy. He s a super trader actually. doe snot post here of course. He has not had a losing trade for months . probably since February. Phenom and he trades EW waves.

Quoting Stimulus
I bought "The wave Principle" hardback.
Toilet reading only, seriously. I have picked up some of the rules for entries and exits, but wave counts in flats and zigzags mess me up.
  • #11,198
  • Nov 9, 2012 2:59am Nov 9, 2012 2:59am
Quoting shiko
are you into Elliot waves? I am trying to learn.
For now, I am proficient in using pivots, TLs, Fibos and most important Fractals. I base trendlines off the fractals, since algorithms of most EA do the same.
"My 2 cents"
  • #11,199
  • Nov 9, 2012 3:02am Nov 9, 2012 3:02am
Quoting shiko
It is hard, but it works. It actually fried my brain. i would say it doe snot exists had not I known a guy. He s a super trader actually. doe snot post here of course. He has not had a losing trade for months . probably since February. Phenom and he trades EW waves.
Todd Gordon of CNBC introduced me to EW when he worked Gain Capital/Forex.com before he went to Aspen trading signal service. I dont pay for signals so I only get tweets every now and again.
"My 2 cents"
  • #11,200
  • Nov 9, 2012 3:04am Nov 9, 2012 3:04am
Good mornng guys.
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