Be hopeful in a winning position, and fearful in a losing position.
- #64,321
- Dec 28, 2012 6:28am Dec 28, 2012 6:28am
- Joined Jul 2012 | Status: CME seat owner | 6,134 Posts
- #64,322
- Dec 28, 2012 9:08am Dec 28, 2012 9:08am
- Joined May 2010 | Status: Simple chart is the best... | 2,014 Posts
Hmmmm.... One more bearish attack is very likely.
The problem is only if bears would like to do it this Friday evening or maybe Monday, or they wait till all New Year's Eve fireworks calm down next week…
I bet there will be few bears to try this evening, and I am one of them…
Good RR ratio on lower time frames, so I'll give it a chance
The problem is only if bears would like to do it this Friday evening or maybe Monday, or they wait till all New Year's Eve fireworks calm down next week…
I bet there will be few bears to try this evening, and I am one of them…
Good RR ratio on lower time frames, so I'll give it a chance
Read Charts - Not Papers
- #64,325
- Dec 28, 2012 9:50am Dec 28, 2012 9:50am
- Joined May 2010 | Status: Simple chart is the best... | 2,014 Posts
Yea - PA bearish as hell if it would be on a regular day.. If price starts to creap below NY opening 3220 it should accelerate..
If that was Tuesday morning after New Year's Eve, I would definitely enter with much bigger position then now.
Today is tricky-micky low volatility day. Big players celebrate end of the year with their fat walltes, they do not play today...
Read Charts - Not Papers
- #64,326
- Dec 28, 2012 10:01am Dec 28, 2012 10:01am
- Joined May 2010 | Status: Simple chart is the best... | 2,014 Posts
Besides recent news/rumors - ending of H4 (GMT) produces additional tug of war as price bounces in between sensitive levels..
Looking pretty well so far with nice red belly.
However some bears would like to open bigger on 1.3245 - 1.3250, what can pull the price up to that level...
BTW it's my 1000th POST on FOREX FACTORY !!!!!
Whooohaaaaa.... time to celebrate
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Read Charts - Not Papers
- #64,327
- Edited 10:23am Dec 28, 2012 10:11am | Edited 10:23am
- Joined May 2010 | Status: Trader | 2,004 Posts
I am more focused now on how 1H candle will close the hour.
Looking pretty well so far with nice red belly.
However some bears would like to open bigger on 1.3245 - 1.3250, what can pull the price up to that level...
BTW it's my 1000th POST on FOREX FACTORY !!!!!
Whooohaaaaa.... time to celebrate
Attachment
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But I'm still holding two short entries at 3216 and 3232, but Im getting impatient with these..
Congrats with your first thousand
But I would rather celebrate pips, not posts As there are too many occasions to drink already...
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- #64,328
- Dec 28, 2012 10:50am Dec 28, 2012 10:50am
- Joined May 2010 | Status: Trader | 2,004 Posts
Im thinking hard... - should I go to the wine shop now and leave my open trades wihtout SL's or should I go there later and sit in front of monitors for another hour or two to end up with a wasted evening..?
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- #64,329
- Dec 28, 2012 10:53am Dec 28, 2012 10:53am
- | Commercial User | Joined Nov 2012 | 3,178 Posts
Im thinking hard... - should I go to the wine shop now and leave my open trades wihtout SL's or should I go there later and sit in front of monitors for another hour or two to end up with a wasted evening..?
I always think of the market as an angry snake or live hand grenade. It will hurt you if you are not protected
Trade smaller than rational because the market is irrational...
- #64,330
- Dec 28, 2012 10:56am Dec 28, 2012 10:56am
- | Commercial User | Joined Nov 2012 | 3,178 Posts
Curious as to the resiliency of E? 
This may be why.
From ZH
Surge In Marginal Lending Facility Usage To One Year Highs Confirms Year End EUR Repatriation
http://www.zerohedge.com/news/2012-1...-eur-repatriat
AND
Another Flashing Red Light: Euro Liquidity Shortage Leads To First ECB Sterilization Failure Since November 2011
http://www.zerohedge.com/news/2012-1...rilization-fai
This may be why.
From ZH
Surge In Marginal Lending Facility Usage To One Year Highs Confirms Year End EUR Repatriation
http://www.zerohedge.com/news/2012-1...-eur-repatriat
AND
Another Flashing Red Light: Euro Liquidity Shortage Leads To First ECB Sterilization Failure Since November 2011
http://www.zerohedge.com/news/2012-1...rilization-fai
Trade smaller than rational because the market is irrational...
- #64,332
- Dec 28, 2012 11:02am Dec 28, 2012 11:02am
- | Commercial User | Joined Nov 2012 | 3,178 Posts
Already closed at 210..
ABout SL's - Im always closing manualy, because I like to watch what PA does above broken levels as it often turns back in to the range (after trigered SL's..)
Trade smaller than rational because the market is irrational...
- #64,333
- Dec 28, 2012 11:25am Dec 28, 2012 11:25am
- Joined May 2010 | Status: Simple chart is the best... | 2,014 Posts
I never use a SL but when I did I closed manually like you. TOO MANY TIMES the market top/bottom ticked my SL just to resume where it was originally going meaning my loss was someone's entry or gain. Its one thing to be a fool and another to be made of fool out of for someone else. Been there, done that, have the tee shirt which I have mounted to remind me.
Unless it's small amount position, I wouldn't leave no-SL position over weekend.
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Read Charts - Not Papers
- #64,334
- Dec 28, 2012 12:08pm Dec 28, 2012 12:08pm
- | Commercial User | Joined Nov 2012 | 3,178 Posts
Maybe close half and calculate your new BE point, then put your SL and go :-)
Unless it's small amount position, I wouldn't leave no-SL position over weekend.
-
DD doesnt bother me a certain loss does. I havent blown up any accounts since implementation of the MM software. Before was a different story. GREED & SPEED KILLS.
Trade smaller than rational because the market is irrational...
- #64,335
- Dec 28, 2012 12:17pm Dec 28, 2012 12:17pm
- | Joined Apr 2011 | Status: Trader | 1,152 Posts
Maybe close half and calculate your new BE point, then put your SL and go :-)
Unless it's small amount position, I wouldn't leave no-SL position over weekend.
-
its been a long time i guess
MMMYYYKKK
- #64,336
- Dec 28, 2012 12:26pm Dec 28, 2012 12:26pm
- Joined May 2010 | Status: Simple chart is the best... | 2,014 Posts
HEY Halkins Nice to see u back mate
its been a long time i guess
I got a new job 6 mnths ago which completely took my time from trading.
I was so unhappy, as I love trading, hahaha...
But believe me, it is so hard to trade on your lunch break.
If you want to be a professional trader you must dedicate to it all your time and energy.
And this is my New Year's resolution.
Read Charts - Not Papers
- #64,337
- Dec 28, 2012 12:48pm Dec 28, 2012 12:48pm
- | Commercial User | Joined Nov 2012 | 3,178 Posts
Heads up everyone who is still here. Barry Obummer and co are meeting @ 3 PM EST. 
Trade smaller than rational because the market is irrational...
- #64,338
- Dec 28, 2012 2:00pm Dec 28, 2012 2:00pm
- | Joined Apr 2011 | Status: Trader | 1,152 Posts
Hey buddy, yes... I am back.
I got a new job 6 mnths ago which completely took my time from trading.
I was so unhappy, as I love trading, hahaha...
But believe me, it is so hard to trade on your lunch break.
If you want to be a professional trader you must dedicate to it all your time and energy.
And this is my New Year's resolution.
hahah Good for u bud
yea i definitely know u love trading and was missing your chartsI was away for a few months too was busy with i m basically a stock Trader/Broker, Forex is just n hobby now i m back hopefully
MMMYYYKKK
- #64,339
- Dec 29, 2012 3:56pm Dec 29, 2012 3:56pm
- Joined May 2010 | Status: Trader | 2,004 Posts
Inserted Video
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- #64,340
- Dec 29, 2012 5:35pm Dec 29, 2012 5:35pm
Hey buddy, yes... I am back.
I got a new job 6 mnths ago which completely took my time from trading.
I was so unhappy, as I love trading, hahaha...
But believe me, it is so hard to trade on your lunch break.
If you want to be a professional trader you must dedicate to it all your time and energy.
And this is my New Year's resolution.
Halkins, Ww havent met yet, but yoiu nseem like a good poster and i look forward to what you say. I must say you said something about "ONLY" haveing your lunch hour to give to this...well...maybe...just maybe ,guys like me with no job doing this 8-12 hrs a day are winding up not only with carpal tunnel...byt ANALYSIS PARALYSIS. Maybe some of us "should" switch to putting only one hour a day into our analysis and see what changes, what "crap" we trim from all the indicators and ideas we have. Liek for me, im currently working 3 winning trading systems at once and its causing ultra stress because i often am taking opposite sides on a pair, but not directly. eg-I might be long the eur/cad on my harmonic patterns system. but might be short the eur/aud on a trend flowing system so when market opens im rooting in 2 different directions. I was going to stop this starting monday anyway, but your post was the nail in the coffin. thank you!