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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #61,541
  • Nov 26, 2012 6:29pm Nov 26, 2012 6:29pm
Quoting AaronWard

  1. when your account blows
  2. when you change your mind about the direction and become a bull
  3. when your nerve gives out

Hahaha, All of the above are very good answers Aaron!
  • #61,542
  • Nov 26, 2012 6:30pm Nov 26, 2012 6:30pm
pretty cool signature 100pipsaday
Kill the ego, or it will kill the mission.
  • #61,543
  • Nov 26, 2012 6:32pm Nov 26, 2012 6:32pm
Quoting AaronWard
pretty cool signature 100pipsaday
Thanks Aaron!
  • #61,544
  • Nov 26, 2012 6:36pm Nov 26, 2012 6:36pm
Quoting 100PipsADay
Yea, AUD/USD about to make a 2 month high...

EUR is not looking extremely bearish to me at this time.


Question for Euro Bears: At what point will you close shorts ASSUMING price kept moving up?
Never posted here before, so I have no credit and you can take my advise for what it is worth. I'm looking for a candle stick formation to confirm a lower high on the daily chart (10/17). Once I feel that is in, I'll look for an entry for short on the 4 hr
  • #61,545
  • Nov 26, 2012 6:37pm Nov 26, 2012 6:37pm
Question:

Is there limit number of orders in MT4? I always get this 'TOO MANY ORDERS' then have to close some positions in order to open new one.
  • #61,546
  • Nov 26, 2012 6:44pm Nov 26, 2012 6:44pm
Quoting Ken A
Question:

Is there limit number of orders in MT4? I always get this 'TOO MANY ORDERS' then have to close some positions in order to open new one.
I've never had this problem personally, do you mind me asking how many orders you have open at one time?

I've seen some automated strategies in "demo testing" have over 50 orders open at once time with no problem on the MT4 platform.
  • #61,547
  • Nov 26, 2012 6:45pm Nov 26, 2012 6:45pm
Quoting Ken A
Question:

Is there limit number of orders in MT4? I always get this 'TOO MANY ORDERS' then have to close some positions in order to open new one.
there is no limitation on number of orders at MT4.
it depends on your broker like mine, some brokers have this limits.
  • #61,548
  • Nov 26, 2012 6:45pm Nov 26, 2012 6:45pm
Quoting 100PipsADay
Hahaha, All of the above are very good answers Aaron!
still some time before any of these things happen to me. Go bears go
Kill the ego, or it will kill the mission.
  • #61,549
  • Nov 26, 2012 6:50pm Nov 26, 2012 6:50pm
Quoting AaronWard
still some time before any of these things happen to me. Go bears go
  • #61,550
  • Nov 26, 2012 6:51pm Nov 26, 2012 6:51pm
Quoting 100PipsADay
I've never had this problem personally, do you mind me asking how many orders you have open at one time?

I've seen some automated strategies in "demo testing" have over 50 orders open at once time with no problem on the MT4 platform.
I don't know never counted the orders on my live. This happened to me second time yesterday perhaps too many orders for EUR/JPY and others. The first was back in Jun 2012 when I shorted EUR/AUD with 10 pips interval.

One of the reasons I have many accounts.
  • #61,551
  • Nov 26, 2012 6:55pm Nov 26, 2012 6:55pm
Quoting Ken A
I don't know never counted the orders on my live. This happened to me second time yesterday perhaps too many orders for EUR/JPY and others. The first was back in Jun 2012 when I shorted EUR/AUD with 10 pips interval.

One of the reasons I have many accounts.
Interesting...

I was curious so I just went to FXCM live chat and asked if they have a maximum number of open positions allowed at any given time and they said NO, as long as equity in account is available it doesn't matter.

So I asked him if it was possible for brokers to set a limit if they desire and he said yes they can. This confirms what HCGroup said a few posts earlier.
  • #61,552
  • Nov 26, 2012 6:58pm Nov 26, 2012 6:58pm
Quoting 100PipsADay
Interesting...

I was curious so I just went to FXCM live chat and asked if they have a maximum number of open positions allowed at any given time and they said NO, as long as equity in account is available it doesn't matter.

So I asked him if it was possible for brokers to set a limit if they desire and he said yes they can. This confirms what HCGroup said a few posts earlier.
I think mine was well over 150-200 orders and 95% are in green so equity is not an issue. It must be the limit set by broker.
  • #61,553
  • Nov 26, 2012 7:03pm Nov 26, 2012 7:03pm
Quoting Ken A
I think mine was well over 150-200 orders and 95% are in green so equity is not an issue. It must be the limit set by broker.
Damn...
  • #61,554
  • Nov 26, 2012 7:04pm Nov 26, 2012 7:04pm
Quoting 100PipsADay
Interesting...

I was curious so I just went to FXCM live chat and asked if they have a maximum number of open positions allowed at any given time and they said NO, as long as equity in account is available it doesn't matter.

So I asked him if it was possible for brokers to set a limit if they desire and he said yes they can. This confirms what HCGroup said a few posts earlier.
yes, some brokers like mine write this order limitations on their term & conditions page.
For example, Exness has this limit, for mini accounts: 50 orders and for classic accounts: 100 orders
nordfx, fxopen and ...
all of them have this limitations, but i can't realize why?
  • #61,555
  • Nov 26, 2012 7:05pm Nov 26, 2012 7:05pm
Quoting 100PipsADay
Damn...
Risk management and don't want to over-leveraged before previous positions are at BE
  • #61,556
  • Nov 26, 2012 7:17pm Nov 26, 2012 7:17pm
guys i need your idea,

more funding for greece finally approved, deal done but it looks eur can't stay above 1.30
i have open long positions and i set tp at 1.3020, all of them are in profit.
i want to manually close them but i prefer to ask your ideas first.
it seems eur priced in greece deal agreement and there is no more buyers.
What you guys think?
can it go upper or the bullish bias is fading and market is going ready to fall?
can it hit 1.3020-50 ?

Thanks for sharing your thoughts
  • #61,557
  • Nov 26, 2012 7:25pm Nov 26, 2012 7:25pm
Quoting HCGroup
guys i need your idea,

more funding for greece finally approved, deal done but it looks eur can't stay above 1.30
i have open long positions and i set tp at 1.3120, all of them are in profit.
i want to manually close them but i prefer to ask your ideas first.
it seems eur priced in greece deal agreement and there is no more buyers.
What you guys think?
can it go upper or the bullish bias is fading and market is going ready to fall?
can it hit 1.3120-50 ?

Thanks for sharing your thoughts
I also have longs from 1.26xx - 1.28xx and they are all at BE +1. I will wait for few sessions and see how thing goes. If it fails to make new highs then I got nothing to lose and enjoying the positive swap for few more days or weeks. At this point, I don't think it will straight go down to hit my BE. That's about 300 pips down move.

But the decision is yours.
  • #61,558
  • Nov 26, 2012 7:25pm Nov 26, 2012 7:25pm
Quoting 100PipsADay
EUR is not looking extremely bearish to me at this time.
I agree that the technical argument for continued Euro weakness is not strong. With the near reversal of the may-june fall, technically it looks like the strong down trend that has been in place since May 2011 is over. PA shows strength as well with a persistent and steady rise that is indicative of a trend movement.

As a target I really like 1.3500 for a number of reasons including its strength as a SR, its position at roughly the mid point of the movement from 1.49XX-1.20xx and its status as a round number.

However this is probably the fourth major Eurozone summit that I have traded through and each time the same thing happens. The Euro rises until the final summit announcement and then (possibly after 1-2 days of rejoicing) it falls like a rock. I am hoping history repeats itself.

In addition to this historical pattern there are all the fundamental reasons which PT shares with us as well as one which I don't think he has discussed.

There are not that many forces powerful enough to move the market in a sustained way, but one of them is the (unintentionally) coordinated action of major funds. When major funds decide their investment strategies for 2013 they look at key marco conditions. Despite the various rhetoric you hear, the numbers paint a very simple picture. Things are getting worse in Europe at the same time they are getting better in the US. Thus the obvious thing to do is to reduce European exposure while increasing US exposure.

Given that the obvious thing to do is to move money out of Europe and into the US, that the year end evaluation and next years planning are going on now and that these macro funds usually do the obvious thing, the monetary flows over the next month or so should be quite strongly negative Euro.
Kill the ego, or it will kill the mission.
  • #61,559
  • Nov 26, 2012 7:31pm Nov 26, 2012 7:31pm
Quoting HCGroup
guys i need your idea,

more funding for greece finally approved, deal done but it looks eur can't stay above 1.30
i have open long positions and i set tp at 1.3020, all of them are in profit.
i want to manually close them but i prefer to ask your ideas first.
it seems eur priced in greece deal agreement and there is no more buyers.
What you guys think?
can it go upper or the bullish bias is fading and market is going ready to fall?
can it hit 1.3020-50 ?

Thanks for sharing your thoughts
I think we are at an important inflection point. A significant move is likely -- one way or the other.

Think of this: the high yesterday was 1.2991. Right now, after the glorious news has been released, we stand at 1.2995. That alone is useful information.

That is not to say that price can't go higher, or that it won't. But SO FAR, I have not seen any significant follow through to the upside based on the Greek deal.

Of course, my opinion could change...depending on what happens next.
Student of the Markets
  • #61,560
  • Nov 26, 2012 7:32pm Nov 26, 2012 7:32pm
Quoting HCGroup
guys i need your idea,

more funding for greece finally approved, deal done but it looks eur can't stay above 1.30
i have open long positions and i set tp at 1.3020, all of them are in profit.
i want to manually close them but i prefer to ask your ideas first.
it seems eur priced in greece deal agreement and there is no more buyers.
What you guys think?
can it go upper or the bullish bias is fading and market is going ready to fall?
can it hit 1.3020-50 ?

Thanks for sharing your thoughts
Reading the pundits, about 80% that think the Euro is going down. However, it is entirely possible that the Euro could go to 1.32 or 1.35 in the next few weeks. In my opinion the bullish technical arguments for further upside are stronger. However I am going with fundamentals and am short.
Kill the ego, or it will kill the mission.
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