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  • #779,621
  • Mar 28, 2013 8:50am Mar 28, 2013 8:50am
Quoting sh5467
so we have a failed a confirmed failed ABC correction and 1.2820 has 2 H1 fibs clustered on it a 23.6 and a 50.0. might be tempted if both fibs break and are retested to go long.
doh yes max the correction hasn't failed yet as there is no HH.
  • #779,622
  • Mar 28, 2013 8:51am Mar 28, 2013 8:51am
Quoting qwerty47
Thanks for an advice. I was in profit from my starting capital, now I am in about 5% loss from starting capital. I am always entering in minimal available position (0,1 lots). Once I used S/L, but this S/L was that day´s low (exact number to one point (five decimal)) and then it goes strongly up. I definitely must control my risk, but also I have to put S/L more properly (not low, not high).
without stop loss, its looks less like a trade but more of investing and patience plays a big part and only can hang on and pray for a retracement/reversal on one's favor which often or not don't happen so quickly it can takes weeks and months if a breakout is clear, unless you are a swing trader with few hundred pips buffering of dd and few hundred pips take profits commitments that's different. Most people start to fail after they realize they are merely grabbing few pips from market each time, but each time they took a trade against a breakout, they are under-water and in DD, which sooner or later would also move their profits and positive equity to below base capital and even more. a 1:1 rr with 50% hit rate is already an edge, but most people just can't accept a 50% loss, which is why often or not their risk is more than their reward. a 1:1.5 1:2 will compensate for the lower hit rates and can be improved by taking on more high probability sets up rather than entering to be involved.

Technical perspectives actually don't last much more than a few candles later due to incoming changes in fundamental and trading session's differences depending on your tf, ta is there to measure a risk involved and probability, sure there are remedies like AVGING without martingale, with martingale its likely to die sometime or another if the next position is not at least 100 pips away even if its 100 pips, yen pairs can do 1000-2000 pips,

Smart cut loss can be waiting for pull back to cut the heavier dd losses and previous dd at a smaller loss at potential Resistance turns support, support turns resistance level. This takes high discipline and willingness to cut rather than hoping all trades to turn green. But patience really plays a big part. The best way to use stop loss is to place it after main support like those pin bars you can find. and use sell or buy stop to cover your losses in case a support or resistance is broken. Therefore, if one picks a trade in between a range, rather than the bottom of a range and the top, they are likely to be more dd and losses.

level on eu is 1.2880/90, that was crucial support, potentially turns resistance. a close above 1.2900 this week/month, will shows 1.2750 was the next strong support and 1.2880 is still in play.
  • #779,623
  • Mar 28, 2013 8:52am Mar 28, 2013 8:52am
Quoting De La Kritz
please stop making trade calls that you are not 100% sure of bcos so many begginners are here helpless. they may not know how you handle the trade when it goes the other way.
to be honest for all the newbie. try to trade longer timeframe with small lot. coz if u follow all the euro master in here to do intraday trading, it would be very dangerous since they might change their decision in a matter of seconds.
Everything in the world has its own rhytms
  • #779,624
  • Mar 28, 2013 8:52am Mar 28, 2013 8:52am
And there's your new high for today... :-) Still riding those longs...
Itchy Spirit Return This Year: na
  • #779,625
  • Mar 28, 2013 8:53am Mar 28, 2013 8:53am
Quoting Ken A
My E/U short is now -3 pips underwater, should I be worried
u can expect double top. thats your last hope
Everything in the world has its own rhytms
  • #779,626
  • Mar 28, 2013 8:53am Mar 28, 2013 8:53am
Quoting MaxDoom
this extra lift above 2800 has now created a lower turn zone for the possible correction of this morning lift.

becomes invalid if:

1) we make a new high
2) we make a new low (starts to be likely scenario once we pass 1.2770)

so I am looking for a new short below the high (wB) to target the turn zone initially

scenario now invalid with the new high


Quoting sh5467
doh yes max the correction hasn't failed yet as there is no HH.
it has now, well given that it corrected then made a continuance high I would say correction complete rather than failed.
  • #779,627
  • Mar 28, 2013 8:54am Mar 28, 2013 8:54am
i have inserted bollinger band on my eu chart. i have also inserted 50 sma on the same chart. i have drawn a line (1.28318) where the 50SMA intersect with the upper bollinger band. i am shorting from there
  • #779,628
  • Mar 28, 2013 8:54am Mar 28, 2013 8:54am
So it looks like the Russians got all their money out of Cyprus ahead of the levy...which means that even by introducing that tax, the EU won't get as much back as they thought they would.

Did they really think they could trick a bunch of Russian mafiosi?
  • #779,629
  • Mar 28, 2013 8:56am Mar 28, 2013 8:56am
Bailed @120.90 -10 pips, guess we are heading to first res...
  • #779,630
  • Mar 28, 2013 8:56am Mar 28, 2013 8:56am
Quoting 21vs7
ej in..
eu i see 2828ish where ill try a pig tight
s eu 30 sl 8
add ej 90 sl 3,5

both tight...lets see
  • #779,631
  • Mar 28, 2013 8:57am Mar 28, 2013 8:57am
Run baby, run...

Will close one more long @ 1.28406 - and leave the last one to run some more... see where she takes us...

SL now @ 1.2796 - PP...
Itchy Spirit Return This Year: na
  • #779,632
  • Mar 28, 2013 8:58am Mar 28, 2013 8:58am
Next line might pose a problem provided it stays above this one.. I think it's going to 2900 (next one up) though..

https://www.tradingview.com/x/P82N06nH/
  • #779,633
  • Mar 28, 2013 9:02am Mar 28, 2013 9:02am
Quoting SnaveForex
lol wrong quote...
Slow and Steady!
  • #779,634
  • Mar 28, 2013 9:03am Mar 28, 2013 9:03am
forgive me if I am mistaken but I cant see an grain of positive news here, and we have had a strong bull thrust last H1 bar. So it is fair to say there is orchestrated short squeeze occurring. I remain flat.
  • #779,635
  • Mar 28, 2013 9:05am Mar 28, 2013 9:05am
Quoting sh5467
forgive me if I am mistaken but I cant see an grain of positive news here, and we have had a strong bull thrust last H1 bar. So it is fair to say there is orchestrated short squeeze occurring. I remain flat.
This is all technical mate... We will test the first resistance as it seems...
  • #779,636
  • Mar 28, 2013 9:05am Mar 28, 2013 9:05am
Quoting sh5467
forgive me if I am mistaken but I cant see an grain of positive news here, and we have had a strong bull thrust last H1 bar. So it is fair to say there is orchestrated short squeeze occurring. I remain flat.
I don't know.. the less I think the better I do..
  • #779,637
  • Mar 28, 2013 9:07am Mar 28, 2013 9:07am
Quoting razoredge
i have inserted bollinger band on my eu chart. i have also inserted 50 sma on the same chart. i have drawn a line (1.28318) where the 50SMA intersect with the upper bollinger band. i am shorting from there
short orders filled @1.2834, 1.28316 and 1.28304. s.l above 1.2850. today still remains a bullish scenario so my profit target is 1.27816. will watch what happens from there
  • #779,638
  • Mar 28, 2013 9:09am Mar 28, 2013 9:09am
Quoting LeeNoa
legaia too? i like you mr creep..we are game lover
hmmm those were good ones, though not very popular.. very nice there
  • #779,639
  • Mar 28, 2013 9:09am Mar 28, 2013 9:09am
ok guys. i leave soon. good luck with your trading. have a nice long weekend and happy easter. nice to trade live with all of you
Everything in the world has its own rhytms
  • #779,640
  • Mar 28, 2013 9:11am Mar 28, 2013 9:11am
Quoting COopa
ok guys. i leave soon. good luck with your trading. have a nice long weekend and happy easter. nice to trade live with all of you
You too, have a good one...
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