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EurAnalysis Kindergarten 24 replies

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  • #65,021
  • Jan 15, 2013 2:42pm Jan 15, 2013 2:42pm
Quoting PipTrapper
Hey, if we never see 1.3400 and above again, you won't hear me complaining.

Took 60% profit off my long position for 25 pips and set the rest at break even. Off to relax in front of the telly now.

Che sara, sera.

http://www.youtube.com/watch?v=cfiPKNyEvaY
Thanks PT for the great blast from the past.
Trade smaller than rational because the market is irrational...
  • #65,022
  • Jan 15, 2013 2:51pm Jan 15, 2013 2:51pm
Quoting chodd22
You guys don't see follow through in Asian hours?
Juncker's remarks only caused a knee-jerk reaction that did the bulls a favor. Now instead of waiting till tomorrow to add to their long positions, they did it a half hour ago.

What may bring the Euro down a bit further overnight during Asia would be further comments from Japan that Yen weakness should be gradual.... but I doubt that will have much effect.

The market has been hijacked by an all-out currency war between the US, Japan and Switzerland. The ECB (Draghi) doesn't give a hoot coz their only mandate is inflation control... not the economy. Right now inflation in the EZ is a bit high so Draghi's preference would be for a slightly higher Euro. Bad move for the economy. In fact it's very bad, but such is life. When the manure hits the fan with a triple dip recession in Germany, and the German elections are in the rear view mirror, then we may see some deliberate Euro weakening. The only other alternative to drop the Euro is USD strength which we will see quite soon, either by way of massive risk aversion, or a falling unemployment rate.
Those who say it cannot be done should not interrupt those who are doing it
  • #65,023
  • Jan 15, 2013 3:13pm Jan 15, 2013 3:13pm
Thanks PT for the analysis
Trade smaller than rational because the market is irrational...
  • #65,024
  • Jan 15, 2013 3:19pm Jan 15, 2013 3:19pm
Yeah, thanks PT! Love having access to smart people!

  • #65,025
  • Jan 15, 2013 3:20pm Jan 15, 2013 3:20pm
Well, I'm proud of myself for having a long limit order at 1.3288. Unfortunately, my S/L was 3268 (20pips) and so my celebration was not long lived (pun intended) I guess I played it wrong. My limit was too high or my stop was too tight (or not tight enough). Back to the drawing board.
Do what you are afraid to do -Emerson
  • #65,026
  • Jan 15, 2013 3:31pm Jan 15, 2013 3:31pm
Quoting Pip_Warrior
Well, I'm proud of myself for having a long limit order at 1.3288. Unfortunately, my S/L was 3268 (20pips) and so my celebration was not long lived (pun intended) I guess I played it wrong. My limit was too high or my stop was too tight (or not tight enough). Back to the drawing board.
At least you lived to pip another day

Trading opportunities are like women. A different one always comes along as you walk walk walk to wealth.
Trade smaller than rational because the market is irrational...
  • #65,027
  • Jan 15, 2013 3:34pm Jan 15, 2013 3:34pm
Quoting EuroTraderJD
At least you lived to pip another day

Trading opportunities are like women. A different one always comes along as you walk walk walk to wealth.
Haha, thanks for the encouragement; it's not lost on me
Do what you are afraid to do -Emerson
  • #65,028
  • Jan 15, 2013 3:41pm Jan 15, 2013 3:41pm
Quoting Pip_Warrior
Well, I'm proud of myself for having a long limit order at 1.3288. Unfortunately, my S/L was 3268 (20pips) and so my celebration was not long lived (pun intended) I guess I played it wrong. My limit was too high or my stop was too tight (or not tight enough). Back to the drawing board.
Don't feel bad. I got stopped out 3 times today trying to establish long scalps. Cost me 25 pips in total. Fortunately I made them all back with that one long at 1.3285. Now hopefully this sucker keeps climbing so I can make some profit. If I get stopped out again, at least I'll be break-even.
Those who say it cannot be done should not interrupt those who are doing it
  • #65,029
  • Jan 15, 2013 3:49pm Jan 15, 2013 3:49pm
Quoting Pip_Warrior
Well, I'm proud of myself for having a long limit order at 1.3288. Unfortunately, my S/L was 3268 (20pips) and so my celebration was not long lived (pun intended) I guess I played it wrong. My limit was too high or my stop was too tight (or not tight enough). Back to the drawing board.
without going into much detail i would say your stop was misplaced.

By looking at the attachment you should see that your stop was at a place that didn't invalidate the uptrend and upward bias in any way. If there was a place where the market would reverse it would have been between 1.3283-1.3248 (which it was)...any stop within that place is a suicide.
Attached Image (click to enlarge)
Click to Enlarge Name: EU.png Size: 40 KB
  • #65,030
  • Jan 15, 2013 4:02pm Jan 15, 2013 4:02pm
[quote=PipTrapper;6367395]Juncker's remarks only caused a knee-jerk reaction that did the bulls a favor. Now instead of waiting till tomorrow to add to their long positions, they did it a half hour ago. QUOTE]

I'm gonna go on a limb here and say it will retest the low after hours during asian...just a hunch!

Nothin wrong with a little asian persuasian to load up a long 1.32+++
  • #65,031
  • Jan 15, 2013 4:05pm Jan 15, 2013 4:05pm
[quote=chodd22;6367538]
Quoting PipTrapper
Juncker's remarks only caused a knee-jerk reaction that did the bulls a favor. Now instead of waiting till tomorrow to add to their long positions, they did it a half hour ago. QUOTE]

I'm gonna go on a limb here and say it will retest the low after hours during asian...just a hunch!

Nothin wrong with a little asian persuasian to load up a long 1.32+++
Yep, I wouldn't dismiss it at all. It's certainly within the bullish continuation range as long as it stays above 1.3240/45
Those who say it cannot be done should not interrupt those who are doing it
  • #65,032
  • Jan 15, 2013 4:07pm Jan 15, 2013 4:07pm
An hour and a half ago I said I was going to relax in front of the telly, yet I am still here. WTF? I must be addicted.

Okay so now I'm really off

Good night all.
Those who say it cannot be done should not interrupt those who are doing it
  • #65,033
  • Jan 15, 2013 4:24pm Jan 15, 2013 4:24pm
Quoting PipTrapper
An hour and a half ago I said I was going to relax in front of the telly, yet I am still here. WTF? I must be addicted.

Okay so now I'm really off

Good night all.
This is the view...

http://www.forexfactory.com/attachme...2&d=1358287160
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #65,034
  • Jan 15, 2013 4:30pm Jan 15, 2013 4:30pm
Heres a good read!

http://www.cnbc.com/id/100378972

I dont' like whats being said but it makes sense...
  • #65,035
  • Edited Jan 16, 2013 12:55am Jan 15, 2013 5:02pm | Edited Jan 16, 2013 12:55am
Good Evening,

After i did my home-work about MM and took note all your comments to my previous post , i finally got it !!
I have to give a special thanks to CurrencyMan who sent me his management strategy that opened my eyes about Scaling that i was doing it the wrong way which clearly was one of the main reason that i blow up a weeks profit with few bad trades.

Now i adjusted my MM to pure Scalping & Hedging Trades and i'm still back-testing longer term trading system.
All my trades are based on small lots which gives me larger space for Scaling IN to my trades and respecting my risk management at the same time using
a risk/reward of 2:1

I must say i was lucky today because i didn't sleep & preferred to babysit the Asian session ( watching Boiler Room ) and that payed off really well !! i managed to jump on selling jpy crosses after i've noticed that eur/usd & usd/jpy failed to make higher highs and stayed with my channel so i sold Eur/jpy Aud/jpy GBP/jpy eur/usd and this is how it looks after a nice rally :
http://s13.postimage.org/5xj6opu53/0...2b50d865a2.png

Hell yeah 722 pips in 1 day !! maybe it's normal to some of you but this was the 1st time i get this much of pips in 1 day !! i wouldn't get this far
if i didn't use scaling and the right amount of Lots and as a result my balance is larger by 1% and i exceeded my profit target of 1 day ( 100 pips )

Quoting CurrencyMan
Good Day
Stay calm, stay focused and have a Trade Plan and know why you are putting on a trade.
Use Risk Management and understand what is happening.
Amen to that , CurrencyMan encouraged me to share my thoughts about the improvement that i've made on MM and how recognizing my mistakes improved my trading.


Good Night Everyone & Have green pips
"Frankly, I don't see markets; I see risks, rewards, and money." Larry Hite
  • #65,036
  • Jan 15, 2013 7:18pm Jan 15, 2013 7:18pm
Quoting Pip_Warrior
Well, I'm proud of myself for having a long limit order at 1.3288. Unfortunately, my S/L was 3268 (20pips) and so my celebration was not long lived (pun intended) I guess I played it wrong. My limit was too high or my stop was too tight (or not tight enough). Back to the drawing board.
it must be ur leverage.smaller the position better u will be making money.another thing is small profit better than small loss.regards
Allah has permitted trade and has forbidden interest [koran]
  • #65,037
  • Jan 15, 2013 11:24pm Jan 15, 2013 11:24pm
Quoting Luis Carlos
This is the view...

http://www.forexfactory.com/attachme...2&d=1358287160
Hmmm, looks like Snake and Ladder Game
  • #65,038
  • Jan 16, 2013 2:09am Jan 16, 2013 2:09am
Short on E/J .
will the price touch 105 today? that is the nearest support and already there is a bearish signal in 4h chart.
  • #65,039
  • Jan 16, 2013 2:25am Jan 16, 2013 2:25am
Quoting zoomfire
Short on E/J .
will the price touch 105 today? that is the nearest support and already there is a bearish signal in 4h chart.
You mean 115 right? That is the area I will be keeping an eye on during the next few days.
  • #65,040
  • Jan 16, 2013 4:35am Jan 16, 2013 4:35am
ECB's Nowotny: "We have seen that Eurozone banks are taking less ECB money"

FF's PipTrapper: "That's because the banks have no more collateral to offer"
Those who say it cannot be done should not interrupt those who are doing it
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