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Trading EURUSD only

  • #23,281
  • Dec 11, 2012 12:18am Dec 11, 2012 12:18am
a move to 1.30 and back down would create a head and shoulders on daily

in case anyone didnt notice that
Be hopeful in a winning position, and fearful in a losing position.
  • #23,282
  • Dec 11, 2012 12:24am Dec 11, 2012 12:24am
TY
noticed
thats reason why I posted to test same TL s again on monday

Quoting Rag2RichesFX
a move to 1.30 and back down would create a head and shoulders on daily

in case anyone didnt notice that
  • #23,283
  • Dec 11, 2012 12:25am Dec 11, 2012 12:25am
closed @ 61 all longs...
  • #23,284
  • Dec 11, 2012 12:25am Dec 11, 2012 12:25am
Quoting Rag2RichesFX
reduced to 40% size @ 61
reduced to 20% @ 55


might reload lower but will wait for PA
Be hopeful in a winning position, and fearful in a losing position.
  • #23,285
  • Dec 11, 2012 12:26am Dec 11, 2012 12:26am
here

Quoting stevewalker
here
D1
  • #23,286
  • Dec 11, 2012 12:32am Dec 11, 2012 12:32am
I haven't heard of this course, but in general I'm not very versed in retail trading education. However, my first question immediately would be: "Does Steve Nison have a fund? Is he a money manager? If not, why. Maybe I will personally ask him this question." That's a great beginning to start due diligence, the best mentors will be those who do, not who can't do, and teach.

The hardest part of trading is going to be finding one setup that you fall in love with, then quantifying this setup so that you can allow your winners to run, while cutting losers short. Believe me now when I say this, without technology or a strong system on your side, you will not be able to let your winners run and cut your losers short without human emotion interfering with your trades.

You will fail without this element, if Steve Nison is a money manager, that information will be in the course.

Quoting Trader2000
Have you heard of Steve Nison candlesticks pattern? I will order the dvd package soon. I've watched some of his videos on youtube as an example and it seems that candlesticks are one of the best tools in trading either forex or stocks. I know basic stuff about candlesticks but Steve explains it from basic all the way to the advance how to use and read each candlestick properly.
  • #23,287
  • Dec 11, 2012 12:38am Dec 11, 2012 12:38am
i use emotion to my benefit

takes a lot of practice

need to watch but more importantly trade PA for 5000-10000 hours in all types of conditions (live account)

then its possible to actually feel the market sentiment in real time, and position yourself early into trades


it takes a lot of practice to get in tune with the market flow (or pressure in some cases)

some situations are easier than others, such as breakout trading (my favorite type of trading, its when the most volume happens as well. last thursday and friday is a classic example, my real favorite is intraday breakouts)
Be hopeful in a winning position, and fearful in a losing position.
  • #23,288
  • Dec 11, 2012 12:39am Dec 11, 2012 12:39am
Quoting Rag2RichesFX
reduced to 20% @ 55


might reload lower but will wait for PA

next long target for me is around 2980-2987.
Down to lower TL beforehand is possible though.

-> buy limit 2947 TP 2980 (SL 2932)
-> buy limit 2963 TP 2980 (SL 2952)
-> sell limit 2985 TP 2963 (SL 2995)

Attached Image (click to enlarge)
Click to Enlarge Name: 2012-12-11 07:34:07.png Size: 45 KB
  • #23,289
  • Dec 11, 2012 12:41am Dec 11, 2012 12:41am
lining level on 33...i'll take from there same action
  • #23,290
  • Dec 11, 2012 12:44am Dec 11, 2012 12:44am
Quoting Rag2RichesFX
reduced to 20% @ 55


might reload lower but will wait for PA

increased to 40% @2949
Be hopeful in a winning position, and fearful in a losing position.
  • #23,291
  • Dec 11, 2012 12:49am Dec 11, 2012 12:49am
Quoting luckyl
next long target for me is around 2980-2987.
Down to lower TL beforehand is possible though.

-> buy limit 2947 TP 2980 (SL 2932)
-> buy limit 2963 TP 2980 (SL 2952)
-> sell limit 2985 TP 2963 (SL 2995)

Attachment
i do like 2980 as well

my style of trading doesnt require many pips though (i use 5 pip stop loss a lot of the time, sometimes 10)

i will let some of it run however
Be hopeful in a winning position, and fearful in a losing position.
  • #23,292
  • Dec 11, 2012 12:55am Dec 11, 2012 12:55am
Are you using technology or any standard trading tools that allow your profits to run?

#FXFUSE

Quoting Rag2RichesFX
i use emotion to my benefit

takes a lot of practice

need to watch but more importantly trade PA for 5000-10000 hours in all types of conditions (live account)

then its possible to actually feel the market sentiment in real time, and position yourself early into trades


it takes a lot of practice to get in tune with the market flow (or pressure in some cases)

some situations are easier than others, such as breakout trading (my favorite type of trading, its when the most volume happens as well. last thursday and friday is a classic...
  • #23,293
  • Dec 11, 2012 12:58am Dec 11, 2012 12:58am
Quoting Fxfuse
Are you using technology or any standard trading tools that allow your profits to run?
wanting to maximize profit on each trade is a huge mistake imo (unless you use trailing stop so you dont let your winner go back to BE..)

10 pips is a decent amount to me (sometimes up to 1% balance)

yes i use tools... and PA
Be hopeful in a winning position, and fearful in a losing position.
  • #23,294
  • Dec 11, 2012 12:59am Dec 11, 2012 12:59am
%50 stop out BE
as usual
Quoting stevewalker
exit %50 +11
%50 runner 2970
  • #23,295
  • Dec 11, 2012 1:00am Dec 11, 2012 1:00am
I'll respect your opinion. Can you elaborate on what type of tools you use to let your winners run?

#FXFUSE

Quoting Rag2RichesFX
wanting to maximize profit on each trade is a huge mistake imo (unless you use trailing stop so you dont let your winner go back to BE..)

10 pips is a decent amount to me (sometimes up to 1% balance)

yes i use tools... and PA
  • #23,296
  • Dec 11, 2012 1:02am Dec 11, 2012 1:02am
Quoting Fxfuse
I'll respect your opinion. Can you elaborate on what type of tools you use to let your winners run?
divergence and lack of piercing key price levels lets me know when to get out

sorry i cant really help you other than that (well yeah i could elaborate more, maybe i will if you really care and are not just messing with me), theres really no short cut to practice
Be hopeful in a winning position, and fearful in a losing position.
  • #23,297
  • Dec 11, 2012 1:03am Dec 11, 2012 1:03am
Quoting Rag2RichesFX
i do like 2980 as well

my style of trading doesnt require many pips though (i use 5 pip stop loss a lot of the time, sometimes 10)

i will let some of it run however
I trade rather short distance.moves as well.
TP (as well as SL) is almost never hit as I manage my trades manually & things change so quickly in forex^^

I trade more like the short bounces from one level to the next - the original TP for me is more an orientation, where the market will probably move within the next time, so it gives me a hint of the favoured direction.

Just now I had long from 2947, closed half @ 2957 (38,2 fibo) & took the rest to BE. few seconds later it got stopped
But that's basically a good example for how I trade EUR/USD - looking for turning points, enter them tightly and decrease position at noted levels while bringing the whole trade to BE as soon as possible.
  • #23,298
  • Dec 11, 2012 1:04am Dec 11, 2012 1:04am
What timeframes do you look at?

Quoting Rag2RichesFX
divergence and lack of piercing key price levels lets me know when to get out

sorry i cant really help you other than that (well yeah i could elaborate more, maybe i will if you really care and are not just messing with me), theres really no short cut to practice
  • #23,299
  • Dec 11, 2012 1:04am Dec 11, 2012 1:04am
Quoting Rag2RichesFX
increased to 40% @2949
increased to 60% @ 2952
Be hopeful in a winning position, and fearful in a losing position.
  • #23,300
  • Dec 11, 2012 1:05am Dec 11, 2012 1:05am
I'm not in need of help in regards to trading, I get bored sometimes and like to explore what others might be doing. That's all.

You're correct about there being no short cut to practice. From my personal experience, though, I know it's tough to let winners run without technology. That can mean staring/bleeding the eyes out when in a 24 hour market.

#FXFUSE

Quoting Rag2RichesFX
divergence and lack of piercing key price levels lets me know when to get out

sorry i cant really help you other than that (well yeah i could elaborate more, maybe i will if you really care and are not just messing with me), theres really no short cut to practice
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