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  • #728,481
  • Dec 6, 2012 11:03am Dec 6, 2012 11:03am
Quoting B_Prasad
welcome to the world of Fundamentals.... Aud will follow suit soon enough if not today tomorrow or some time soon .... Fundamentals cannot lag behind forever, its my view but if u actually note it, there was a rejection of the PA at critical level and once the previous high was not breached sellers steamed in. This is exactly the reason why u cannot time your shorts at higher level it could have got rejected at 1.3080/90/100-140... lets see what follows suit...
So fundies can not lag forever. which means they were lagging till now, right? if they lag what is the point of trading them? how sure can yo be that it will drop further rather going up again? or did you totally crossed off the possibility of going up?
maybe that was just a news driven move?
also, there is no such thing as "rejection". price can not be rejected. there is always more buyers than sellers or more sellers than buyers.
we are very good at explaining things AFTER EVERYTHING TAKES PLACE. if it went up, we would definitely find million reasons why it went up. there is something very important we do not pay attention to. therefore, guys, most of us are losers.
As Above, So Below
  • #728,482
  • Dec 6, 2012 11:04am Dec 6, 2012 11:04am
Quoting math_GB
It certainly does mate...! I should have known better when the price broke 1.3040 in the afternoon. I managed the trade quite well today closed my short @1.3030 as I wasn't expecting the price to break 1.3000 for today but was it necessary to jump into a long??? No...! OK, tried then didn't work out, then said will cover @1.3020 oh and in the mean time doubled my position @1.3028 .. OK could be... but when I noticed it was wrong then covered everything @1.3020... That was wise... But then what happened and I closed the covered bit @1.3010 and...
It's normal, that's part of the reason why " inconsistency " is the problem of most manual traders, humans have emotions and there are chances to be wrong. One way to scale myself out is to hedge myself. U can practise this too, for example, if today fundamental were to turn positive instead of sell off, i may have an initial sell @ 1.3078 with stop above 85, but what i may want to do is to be opened to 2 possibilities of price, by hedging myself with a stop loss buy stop order above there to catch the next move. For instance, if i see there is pin bar at 1.3025, and i choose to long @ 1.3028, i am going to hedge a sell stop at 1.3022, as pin bar fails = -> further breakout, this way ur hedging urself all the time, u may be exposed to 2 losses if price spike down and spike up, but u are opened to 2 possibilities all the time.

Adding on the same direction is perfectly normal, I do see there are alot of shorts takers who may entered shorts @ 1.3000 1.3090 when price was at 1.3120, that point of time, humans have this thought " oh trend is up, we are seeing 1.34, 1.35 blah blah " these are just predictions, Real Live Market works differently, it's unpredictable, its a game for both bull and bear all the time, a loser today can be a winner tomorrow, it's how one plan his trade in short term risk bet, long term buffering zone pips, bigger stop loss, martingale scaling, and etc etc. And irony is that suddenly PA turns bearish, everyone will say like 1.28 . 1.26 1.24, they change really fast, and emotions and fear is what driven mistakes and trend.

What a trader can do for instance is to protect his profits gains.

The key factor of this arena is -> cut ur losers short, ride ur winners. If u keep on finding possibilities with good stop loss, small stop loss, and ride ur winners. Imagine 1 winner 1.3078-1.2978, that's 100 pips, u can have up to 10 trades of 10 pips stop to hedge urself all the time. U can be wrong many times, few winners ur balance is +ve, which is why risk reward does matter. But still technical and system must be there, if not its demoralizing to keep on losing 8/10 trades. So one have to balance it with a good system that suits him.


For example if u earned 40 pips during london, ur set up might just want to lose 20 pips max, and not going to lose anymore and stay sideway, so u end up with 20+ve for the day and have a better sleep, and come again another day, this way emotional is in checked. Trading ethics is important, it's a culture and art for a trader to build, it takes time and experience.
  • #728,483
  • Dec 6, 2012 11:05am Dec 6, 2012 11:05am
Shorted the shit out of the DAX at 7541 SL 7555 TP 7515.

They've got some catching up to do today.
  • #728,484
  • Dec 6, 2012 11:09am Dec 6, 2012 11:09am
Calling it quits for the week.. Very green week, GL with nfp tomorrow yall... Got a long 5 hr tattoo session tomorrow to finish up my sleeve..
Want the lifestyle of the top traders in the world? TAKE RISK.
  • #728,485
  • Dec 6, 2012 11:12am Dec 6, 2012 11:12am
May take a nap, still US data coming later on, within 3-4 hours.

While it stays below 68/70, target is 50/51.....those little algos calculated it like 4-5 hours ago.
They think they are smarter than I am.
  • #728,486
  • Dec 6, 2012 11:17am Dec 6, 2012 11:17am
Quoting Z3iz3i
May take a nap, still US data coming later on, within 3-4 hours.

While it stays below 68/70, target is 50/51.....those little algos calculated it like 4-5 hours ago.

from a tl perspective: dollar index futures broke below their lower rail from end of september last thursday...

if the index continues back up to meet that rail, it will hit 80.28 TODAY most likely

if it hits 80.28, then .eu will likely make it down to .2940 today

then, if the index continues back up into the channel from sept, we could easily go below .29 on .eu --- NFP data tomorrow is a potential catalyst.
  • #728,487
  • Dec 6, 2012 11:19am Dec 6, 2012 11:19am
Quoting 1candlepower
from a tl perspective: dollar index futures broke below their lower rail from end of september last thursday...

if the index continues back to meet that rail, it will hit 80.28 TODAY most likely

if it hits 80.28, then .eu will likely make it down to .2940 today

then, if the index continues back up into the channel from sept, we could easily go below .29 --- NFP data would be a potential catalyst.
They think they are smarter than I am.
  • #728,488
  • Dec 6, 2012 11:22am Dec 6, 2012 11:22am
2966 short a bit
looking for investors . pm me
  • #728,489
  • Dec 6, 2012 11:26am Dec 6, 2012 11:26am
Everybody bye for now. Till tommorrow
We will still get to 1.2944 today so shorting continues
Maximizing your potentials!
  • #728,490
  • Dec 6, 2012 11:26am Dec 6, 2012 11:26am
Quoting kbmoonshinex
2966 short a bit
closed +14
looking for investors . pm me
  • #728,491
  • Dec 6, 2012 11:28am Dec 6, 2012 11:28am
Quoting 5percent
...... Trading ethics is important, it's a culture and art for a trader to build, it takes time and experience.
Another great response. thank you so much mate! Yeah that was actually the reason why I cut my losses @40 pips, I had made 65 pips since morning so covered it for the time being to calm down a little and see what the PA is upto. For instance right now we are breaking another support as it seems @1.2950 so truly happy I stopped and now only watching. but the points you have mentioned in your latest posts should be printed out and put next to the screen at the table of every trader. It can save lives... Principle is a quality that many of us neglect... Thank you mate! I truly appreciate all your efforts here.
  • #728,492
  • Dec 6, 2012 11:29am Dec 6, 2012 11:29am
Quoting 1candlepower
from a tl perspective: dollar index futures broke below their lower rail from end of september last thursday...

if the index continues back up to meet that rail, it will hit 80.28 TODAY most likely

if it hits 80.28, then .eu will likely make it down to .2940 today

then, if the index continues back up into the channel from sept, we could easily go below .29 on .eu --- NFP data tomorrow is a potential catalyst.

the index just tapped 80.28
  • #728,493
  • Dec 6, 2012 11:30am Dec 6, 2012 11:30am
Quoting brio
I am not long yet. still looking at 1.2944, my next support level after 1.3021, 1.2992! lol!
Ealiar said!
We finally got there at 1.2944! I think this what a voucher! lol
Till tommorrow guys!
Maximizing your potentials!
  • #728,494
  • Dec 6, 2012 11:30am Dec 6, 2012 11:30am
Quoting MaxDoom
if we clear 70 then it is starting to look like 295x to pullback from

from there if we get the turn I would look for 301x to 303x zone
new long @ 53

my only other long attempt earlier scratched for -9
  • #728,495
  • Dec 6, 2012 11:31am Dec 6, 2012 11:31am
Quoting Z3iz3i
your target hit
looking for investors . pm me
  • #728,496
  • Dec 6, 2012 11:31am Dec 6, 2012 11:31am
Quoting MaxDoom
new long @ 53

my only other long attempt earlier scratched for -9
i took long here also . ok going with you my friend. 3000 maybe retest i hope
looking for investors . pm me
  • #728,497
  • Dec 6, 2012 11:32am Dec 6, 2012 11:32am
Quoting Cuso
Shorted the shit out of the DAX at 7541 SL 7555 TP 7515.

They've got some catching up to do today.
Maybe yes maybe not mate... The correlation of equities vs. EUR/USD has become quite weak lately...
  • #728,498
  • Dec 6, 2012 11:33am Dec 6, 2012 11:33am
Quoting kbmoonshinex
your target hit
Yep =)

Close to turnaround, expect within 6 pips lower but max 12 pips lower from 54 what makes it 42 and should be lowest unless total breakdown occurs.
They think they are smarter than I am.
  • #728,499
  • Dec 6, 2012 11:34am Dec 6, 2012 11:34am
Following you Doom Man, closed the covered bit @1.2951 and will be happy if we move 1.2980s... Have to put another cover order @1.2935 I guess... What a terrible end-of-day...??? Poor me...
  • #728,500
  • Dec 6, 2012 11:35am Dec 6, 2012 11:35am
Quoting math_GB
Another great response. thank you so much mate! Yeah that was actually the reason why I cut my losses @40 pips, I had made 65 pips since morning so covered it for the time being to calm down a little and see what the PA is upto. For instance right now we are breaking another support as it seems @1.2950 so truly happy I stopped and now only watching. but the points you have mentioned in your latest posts should be printed out and put next to the screen at the table of every trader. It can save lives... Principle is a quality that many of us neglect......
I learned the hard way , so i hope to share my experience with others. I rem a time as a newbie/starter without a proper edge, i make more than 1000% in 3 months executed 6000+ trades accumulated 8000 pips++, and then losing them into the market by leveraging further and going crazy, it's part of experience.

Now, as a trader, i secure 0.5%-1% as target by watching my risk over my gains and finding all possibilities in the market, there's no need to be bullish/bearish about fundamental -> care about making pips and open to all possibilities at all times.
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