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  • #753,761
  • Feb 4, 2013 7:08am Feb 4, 2013 7:08am
Quoting ec_creep
going long only if it breaks 3573 first
good thing i waited a bit longer..
  • #753,762
  • Feb 4, 2013 7:08am Feb 4, 2013 7:08am
EJ at possible support level now - watching closely
  • #753,763
  • Feb 4, 2013 7:10am Feb 4, 2013 7:10am
This is turning into a dumb move, S/L on 60 long set to 45. Otherwise standing aside
  • #753,764
  • Feb 4, 2013 7:10am Feb 4, 2013 7:10am
Quoting math_GB
Good point cat...

Vlady, I truly think unless you trade weekly with a low leverage and have stops larger than 50+ pips, it will most of the time be painful for you to trade this intraday. At some point, excitement and fear will cause make you take wrong decisions. Think about it mate, conditions change pretty quickly here, some market news may affect the picture intraday and so on. I think you need to revisit the idea of trading this thing depending on a higher time frame... Just saying...
I just know for me it's be a disaster unless I was trading an H4/Daily chart
  • #753,765
  • Feb 4, 2013 7:11am Feb 4, 2013 7:11am
Quoting ForExtraPips
Just woke up. I knew I should have went short when the market opened yesterday. short now @ 1.3570 sl @ 1.3555 tp @ 1.3641
According to your trade you are probably long, not short?
  • #753,766
  • Feb 4, 2013 7:12am Feb 4, 2013 7:12am
Quoting pawpaw1000
NY should give us one more push lower if London doesn't... Will then look to buy at 1.35405.

Here we go... get ready
@pawpaw1000 on Twitter
  • #753,767
  • Feb 4, 2013 7:13am Feb 4, 2013 7:13am


Quoting iqyu5an
monthly pivot ? hmmmmmmmmmmmmm too far ya...

let her break/touch 354x-358x first or test weekly pivot +/- around and close below daily open tomorrow. soooooooooooo not to hurry......

keep calm...
not euphoria follower
  • #753,768
  • Feb 4, 2013 7:13am Feb 4, 2013 7:13am
Quoting Spik
According to your trade you are probably long, not short?
Yep. And just got stopped out. That's what I get for trading before my coffee.
Time turns trend. - W.D. Gann
  • #753,769
  • Feb 4, 2013 7:14am Feb 4, 2013 7:14am
Quoting ForExtraPips
Just woke up. I knew I should have went short when the market opened yesterday. short now @ 1.3570 sl @ 1.3555 tp @ 1.3641

Long?
  • #753,770
  • Feb 4, 2013 7:16am Feb 4, 2013 7:16am
Quoting Ken A
Long?
Damn. Just now noticed that. Sorry about that. Yes. long. Where's my coffee? lol
Time turns trend. - W.D. Gann
  • #753,771
  • Feb 4, 2013 7:17am Feb 4, 2013 7:17am
Quoting cat
Don't really know how people can trade whilst doing something else, for me anyway, it just wouldn't work. Do you do it for entertainment or to actually make money?
When you have a day job and you want to learn to trade, it's the only way to do it. It's not ideal by a long shot. I'm making more money now than I have in the past 2 years, yes.

But no, it's not something I would recommend to another newbie. However, having said that - I know alot of newbies who are in a similar position as me. I've never, however, mentioned my personal situation to anyone as per how I go about my trades.

My daily objective is min 20 pips. Today has wiped it out, but last week I yeilded 4 out of 5 days, ie. 4 x 20 minimum. And have done for the last 2 months. Prior to that it was 10 pips. And yes, all whilst trying to hold down my job.

For the newbies reading here's the thing
a) If you can somehow focus 100% on this, then do it.
b) If you can AFFORD to do End of Day Trading, then start with that.... or start with Stocks.
c) Demo if you have no idea what a STOP/LIMIT, UP/DOWN/SIDEWAYS, SUPPORT/RESISTANCE, FIBONACCI terms are all about.
d) Once you know some rudimentary basics, put aside $500 or £500 that you are going to LOSE. That's right. You will write it off right now... cos you're going to. Not to set out as an objective, but as a new trader - especially in FX - you will lose it.
e) Start trading with real money.
f) Find or create a system where you can enter at London Open and Finish at London Close. Dont trade after 11am London time, but restart at 1:30pm London time
g) If you can make 5 pips between (d) and (f) then increase your pips.
h) Make sure you have excellent Money Management system.

You DO need to watch the screens for at least 10,000 hours. That's the reason. You need to see the screen. It's the only way to judge price action at any time frame. If you are relying solely on the parameters of one system/indicator, I still think newbies will fail. You have to spend as much time on screen as you can. Work it into your life.

It's not perfect, but I'm working it into all aspects of my life. I try and remember the S/R numbers and spend 1.5 hrs every morning at breakfast or on the can looking at my iPad looking at formations all timeframes, all the major pairs. At work... it's in between screens/breaks/phone during meetings. It depends on your passion I guess.... and I'm determined to make this my goal in 2 years time.
A pip is only worth it if you know how much you risked to earn it
  • #753,772
  • Feb 4, 2013 7:18am Feb 4, 2013 7:18am
Quoting ForExtraPips
Damn. Just now noticed that. Sorry about that. Yes. long. Where's my coffee? lol

We have cappuccino, espresso, revers-o, what would you like? Bacon and egg?
  • #753,773
  • Feb 4, 2013 7:18am Feb 4, 2013 7:18am
I think this was it, still in added @1.3550 average now 1.355 excluding the 20 pip loss from the morning with that the average cost becomes 1.3575 so I need the shite start climbing now
  • #753,774
  • Feb 4, 2013 7:18am Feb 4, 2013 7:18am
Quoting gatorinla
just asking a question
i'd say they did around $11 billion friday...
Look Sharp/Trade Tight
  • #753,775
  • Feb 4, 2013 7:18am Feb 4, 2013 7:18am
not a surprise if she go to 345x-352x ... 350x in average
not euphoria follower
  • #753,776
  • Feb 4, 2013 7:20am Feb 4, 2013 7:20am
Quoting Ken A
We have cappuccino, espresso, revers-o, what would you like? Bacon and egg?
Ahhh, now you made me remember I need my cafein shot...
  • #753,777
  • Feb 4, 2013 7:21am Feb 4, 2013 7:21am
Quoting BobGnarly
Hopefully just picked up some cheap longs, eu ej an gj all with tight stops.. Good luck everyone!
That is my idea too, but I see no sigh for weakening or stop fall.

Before NY it was 20 pip up because some closed they shorts , but now they short again, I mean who move the market, not us.

Until I see no sign of consolidation I will stay out, than fully long.
I want to buy PATIENCE
  • #753,778
  • Feb 4, 2013 7:21am Feb 4, 2013 7:21am
Quoting math_GB
I think this was it, still in added @1.3550 average now 1.355 excluding the 20 pip loss from the morning with that the average cost becomes 1.3575 so I need the shite start climbing now
Looking at 1.3588 now. if Broken back above 1.3605 and higher.
Let's go step by step
  • #753,779
  • Feb 4, 2013 7:21am Feb 4, 2013 7:21am
Quoting math_GB
Good point cat...

Vlady, I truly think unless you trade weekly with a low leverage and have stops larger than 50+ pips, it will most of the time be painful for you to trade this intraday. At some point, excitement and fear will cause make you take wrong decisions. Think about it mate, conditions change pretty quickly here, some market news may affect the picture intraday and so on. I think you need to revisit the idea of trading this thing depending on a higher time frame... Just saying...
still doable, mate..
at least for me. well, different timezone. at home 3hrs after london open. can trade tokyo at work. either tighten my sl, or settle for a sure fire target when i get busy..
  • #753,780
  • Feb 4, 2013 7:22am Feb 4, 2013 7:22am
Quoting iqyu5an
Merkel says EU budget talks will be tough, outcome unclear

http://s1.reutersmedia.net/resources...=CBRE9110XCK00
.
not euphoria follower
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