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  • #726,281
  • Dec 3, 2012 2:19am Dec 3, 2012 2:19am
Quoting shmandi
good morning all.
i think it wants to go higher. but lets see
long from 25, sl at be
closed half, will leave the rest for now
  • #726,282
  • Dec 3, 2012 2:19am Dec 3, 2012 2:19am
Quoting KillerWhale
I started in 2005, it took me 3 years to become profitable.
Like I said .............patience.
right, whats 3 yrs, if your going to be doing it for 30...
Look Sharp/Trade Tight
  • #726,283
  • Dec 3, 2012 2:21am Dec 3, 2012 2:21am
Quoting KillerWhale
I started in 2005, it took me 3 years to become profitable.
Like I said .............patience.
That is one strength I am proud of having... It is a combination of many things that leads you to success I have noticed. Have been trading for almost two years now, can't complain about the profit I made but didn't think it would be so hard to make money with this. While working as a risk manager at GS, managed so complex derivatives and considered FX the simplest one to trade... Not at all...!!! Anyway, let's focus what this cripple has in mind.

A quick question to all seniors here:

- I take hourly close which is 9:00 am UK time everyday very seriously. It generally helps me determine the daily trend.

Do you guys follow that closely as well???
  • #726,284
  • Dec 3, 2012 2:23am Dec 3, 2012 2:23am
Quoting shmandi
closed half, will leave the rest for now
I have no idea what makes u believe it will go higher, there is no fundamental reason for the rally, touching 1.3 has already been so far for this pair.
  • #726,285
  • Dec 3, 2012 2:23am Dec 3, 2012 2:23am
Quoting Davit
Short 3029 3036
Nothing like collective bears!
  • #726,286
  • Dec 3, 2012 2:24am Dec 3, 2012 2:24am
Quoting math_GB

Do you guys follow that closely as well???
sure, but I like to note the midpoint of that bar as well, along with the frankie mid..
Look Sharp/Trade Tight
  • #726,287
  • Dec 3, 2012 2:25am Dec 3, 2012 2:25am
myself, I might trade near 3004, or 3063...in some capacity..
Look Sharp/Trade Tight
  • #726,288
  • Dec 3, 2012 2:26am Dec 3, 2012 2:26am
Quoting Kanzler
I'm sure it was well worth it....hopefully I manage to make it to your level of success in due time.
just don't let the losers run and you will be fine.
You can be 70% wrong and still make money

1 loss -15 pips
2 loss-10pips
3 loss -5pips
4 loss -15 pips
5 loss-10 pips
6 loss -16 pips
7 loss-6 pips
8 win+138pips
9 win+78pips
10win +145 pips

Just to illustrate my point. Close half position like +20pips and let the rest run to next major S/R level.
Don't freeze !Act! When animals are in danger they freeze momentarily including humans.Overcome that instinct.If the trade does not work out close and think another set up.
Most massive losses occur when one is incapable of admitting they are wrong.That is arrogance and market will punish you.( I speak from experience sadly,paid dearly for every lesson)
In trading, you have to be defensive and aggressive at the same time
  • #726,289
  • Dec 3, 2012 2:26am Dec 3, 2012 2:26am
how good/bad this Greek bond buying back plan? dax seems to be likes it ,
Mohan
  • #726,290
  • Dec 3, 2012 2:26am Dec 3, 2012 2:26am
Quoting PayTheLimit
sure, but I like to note the midpoint of that bar as well, along with the frankie mid..
Could you please elaborate at your convenience mate? What does that give you? I mean the mid...
  • #726,291
  • Dec 3, 2012 2:26am Dec 3, 2012 2:26am
Quoting holmes
I have no idea what makes u believe it will go higher, there is no fundamental reason for the rally, touching 1.3 has already been so far for this pair.
The market can stay irrational longer than you can stay solvent.

One reason I put more emphasis on technicals than fundamental factors, although the fundamentals haven't been all that bad for Euro standards recently.

Quoting Davit
just don't let the losers run and you will be fine.
You can be 70% wrong and still make money

1 loss -15 pips
2 loss-10pips
3 loss -5pips
4 loss -15 pips
5 loss-10 pips
6 loss -16 pips
7 loss-6 pips
8 win+138pips
9 win+78pips
10win +145 pips

Just to illustrate my point. Close half position like +20pips and let the rest run to next major S/R level.
Don't freeze !Act! When animals are in danger they freeze momentarily including humans.Overcome that instinct.If the trade does not work out close and think another set up.
Most massive losses occur when one is incapable of admitting they are wrong.That is arrogance and market will punish you.
I pull to break-even at +20 and then let it run to the next zone (simply for the reason that it worked for BillyRayValentine)...and ever since I started taking a serious look at s/r my stops have been rather tight (always pre-set and automatic). I think the biggest reason new traders fail is because of indicator culture where risk isn't properly defined...you just get "go long/short now" with no real measure of where you're proven wrong at. By the time your indicator changes its mind you're out a bunch of cash.
  • #726,292
  • Dec 3, 2012 2:27am Dec 3, 2012 2:27am
Quoting math_GB
Could you please elaborate at your convenience mate? What does that give you? I mean the mid...
the midpoint of that hour, or bar...
Attached Image (click to enlarge)
Click to Enlarge Name: chart1.gif Size: 19 KB
Look Sharp/Trade Tight
  • #726,293
  • Dec 3, 2012 2:34am Dec 3, 2012 2:34am
I am looking at 1.3064 before short trade!
Maximizing your potentials!
  • #726,294
  • Dec 3, 2012 2:34am Dec 3, 2012 2:34am
Quoting PayTheLimit
the midpoint of that hour, or bar...
Wauww...! Haven't noticed it before... Sweet deal really. Many thanks mate!
So many things to consider, it is great that some of you haven't gone mental yet! Altough I think some of you did... Chicky...
  • #726,295
  • Dec 3, 2012 2:39am Dec 3, 2012 2:39am
1.3012... Here we come... Treat us with respect please...
  • #726,296
  • Dec 3, 2012 2:41am Dec 3, 2012 2:41am
Quoting 21vs7
yes. with eur weakness on the board. over i have 8148/59 an overshoot.
morning 21..
EURGBP overshooting your .8148/59 could push the pig up to the Firework Zone where I expect some patience M/T big bad bears may be setting up an ambush for the SOS/SOB squadron.. above .8168/88 the pig may pop over 1.32 in a flash..
Cable bungee over 1.6168 while the twin piglets maintaining side to up PA's could also do it..

have a Fooolger on me..

http://3.bp.blogspot.com/-wUwGAMRR1c...g+caffeine.gif
  • #726,297
  • Dec 3, 2012 2:42am Dec 3, 2012 2:42am
Quoting math_GB
Wauww...! Haven't noticed it before... Sweet deal really. Many thanks mate!
So many things to consider, it is great that some of you haven't gone mental yet! Altough I think some of you did... Chicky...
well it surely wont make you rich, and it might just be a bunch of random levels, but its my experience that the mids from bars that include either swing highs, or lows, or mids of large bull or bear bars seem to get some sort of respect for what ever reason, I like to at least make a note of them...at any rate, I'm pretty sure if I was forced to find a corresponding level for the high and low each day, I prolly could, which means that, draw enough levels, and soon rather than later the market will turn on one of them...
Look Sharp/Trade Tight
  • #726,298
  • Dec 3, 2012 2:43am Dec 3, 2012 2:43am
Short @ 36

short crude @ 88.87
  • #726,299
  • Dec 3, 2012 2:44am Dec 3, 2012 2:44am
Quoting Nachiket
trading aussie today?
yes sure are todays open aussie 24-26 kiwi already tapping todays open 8190 8205 will see how her reacts and yen prs
If you are new to Forex? Say Goodbye to your account!!
  • #726,300
  • Dec 3, 2012 2:45am Dec 3, 2012 2:45am
Quoting Sutts
Decent amount of buying going on at the 3023 level. Will close if we start printing heavily below that.

Out b/e. Ho hum.
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