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Trading EURUSD only

  • #42,321
  • Apr 5, 2013 10:55am Apr 5, 2013 10:55am
Quoting Robby
Well I am up over 60K on my long so I know if I move my stop to + from below 26 it will get hit on a pull back. But closing out up here and hoping for a pull back that might not happen and we keep on going up and I left. I would be kicking myself for doing that. I really do feel like we have a good pull back fixing to hit. So I am trying to decide what to do before going out to the airport to work on my dad's airplane.
take half?
  • #42,322
  • Apr 5, 2013 10:57am Apr 5, 2013 10:57am
Quoting Pilager
Hi Guys, Would really appreciate if all experienced traders posted possible moves before the actual event. Went short after hitting the pair hit 1.2850 and left for a few hours on coming back, the pair was up to 1.293. Lost all the pips I had made after the ECB announcement.
case in point went short at 3035 tp at 28 still short 1 watching.. loosing momentum going into weekend may keep it over weekend not sure yet depends on the down stroke if not deep ill get out or put a no-loss stop this are scalping trades..very short term...if u do longer term trades I suggest u need to look at weekly monthly and daily charts if as well....

but most of us here do that as well some may have different accounts separating for longer term and short term trading especially US citizens avoiding FIFO (First In First Out)...hope this helps
  • #42,323
  • Apr 5, 2013 10:59am Apr 5, 2013 10:59am
Quoting Pilager
I just read quotes of guys getting 40- 50 pips at a go, so it sounds like some people are working on a FX strategies. Also, I'm very new here but I think it'd be great if people actually posted just before or after making a move. That would be very helpful as it would give other member a chance to review and check their current strategies. I don't feel saying "I went long 5 hours ago at 1.2800 and I'm closing the trade +60 pips is very helpful at any particular moment. Would have been better if you said it then, and gave your reason so that other...
Welcome Pilager.

Bro posting after you initiate a trade is one of Steves' rules. But remember we are primary traders and not posters because posting doesnt build our accounts.

I understand the part about giving the reasons why and I try to do that.

So here is a heads up.

I will go short IF

10M 5SMA x 15 SMA with PA below both

10M RSI3 goes below 50

30M PA is not near support.

30M PA is not near a fib (not a deal killer though)

If all of those check out then I execute ONLY WHEN

1M bar is red. then I watch it for a min or two. If I get a 2nd red bar then I go for it and cross my fingers.
Trade smaller than rational because the market is irrational...
  • #42,324
  • Apr 5, 2013 11:00am Apr 5, 2013 11:00am
Well this is so true. I think their might be a gap to the downside for sunday. I just get the feeling that might happen. I can take the 250 ticks or try to get out and back in. When I normally leave I never get a safe chance to get back in. This is why its trading one never knows. Otherwise everyone in here would be very rich! It's out of energy and cannot move higher is how I read it right now. Cannot break through the upper ward channel it's at the bottom of. So...I am unsure what to do...time for coffee!
Quoting EuroTraderJD
From my experience any SL / TS / or open order seems to get hit. Maybe its "stop hunting" for order fills on the opposite side of the trade When I have made my dough and have to leave I use a TS just like this AM. Saved my ass later as I found out on my short. This way if it continues to go in my direction then I am good. If it reverses then I am good because I made most of my position. If it hits my TS and reverses in the bias I had I am somewhat annoyed but GRATEFUL to hell I made something.
  • #42,325
  • Apr 5, 2013 11:05am Apr 5, 2013 11:05am
That is what I am thinking....take 3/4 off of the 25 lots and just leave 5 or 6 lots long just in case it goes for the moon or heads south to take out the low.
Quoting TraderPablo
take half?
  • #42,326
  • Apr 5, 2013 11:05am Apr 5, 2013 11:05am
Quoting Robby
Well this is so true. I think their might be a gap to the downside for sunday. I just get the feeling that might happen. I can take the 250 ticks or try to get out and back in. When I normally leave I never get a safe chance to get back in. This is why its trading one never knows. Otherwise everyone in here would be very rich! It's out of energy and cannot move higher is how I read it right now. Cannot break through the upper ward channel it's at the bottom of. So...I am unsure what to do...time for coffee!
pocket half of the loot...this way U have options....if it keeps going or small PB (PullBack) ur still in the game at least Ur not sorry if something should happen over the weekend...I think U will sleep better..knowing what U got...U know how the "might be" sometimes turns out....that would be my strategy....

did the coffee help?
  • #42,327
  • Apr 5, 2013 11:08am Apr 5, 2013 11:08am
I'm thinking of turning into a seasone scalper myself. Just work on gaining small pips. Some of my calls especially based on negative information from the EZ have failed to pan out. The EUR seems to be immune to any negative news from Europe but the Dollars jumps like a rat on fire on even the slightest of negative news. Case in point was yesterday where no one envisioned the EUR to move up to 1.2940 based on the increased jobless information compared to a dovish outlook from the ECB chair.

Quoting TraderPablo
case in point went short at 3035 tp at 28 still short 1 watching.. loosing momentum going into weekend may keep it over weekend not sure yet depends on the down stroke if not deep ill get out or put a no-loss stop this are scalping trades..very short term...if u do longer term trades I suggest u need to look at weekly monthly and daily charts if as well.... but most of us here do that as well some may have different accounts separating for longer term and short term trading especially US citizens avoiding FIFO (First In First Out)...hope this helps...
  • #42,328
  • Apr 5, 2013 11:11am Apr 5, 2013 11:11am
Quoting Robby
Well this is so true. I think their might be a gap to the downside for sunday. I just get the feeling that might happen. I can take the 250 ticks or try to get out and back in. When I normally leave I never get a safe chance to get back in. This is why its trading one never knows. Otherwise everyone in here would be very rich! It's out of energy and cannot move higher is how I read it right now. Cannot break through the upper ward channel it's at the bottom of. So...I am unsure what to do...time for coffee!
Agreed when in doubt Sit it out.
Trade smaller than rational because the market is irrational...
  • #42,329
  • Apr 5, 2013 11:12am Apr 5, 2013 11:12am
Yes, I am taking 3/4 off. Sold 20 lots and keep 5 now I am moving my stop to 28 even. If I am away and they hit is no big deal. I know when I have lots of more than 20 on IB they will stop hunt it if the market is with in 25 ticks of it. Had to change all the amounts on stop and target. Anyways, guys I am out of here to go install some electronics in my dads airplane. Hope everyone has a good weekend!
Quoting TraderPablo
pocket half of the loot...this way U have options....if it keeps going or small PB (PullBack) ur still in the game at least Ur not sorry if something should happen over the weekend...I think U will sleep better..knowing what U got...U know how the "might be" sometimes turns out....that would be my strategy.... did the coffee help?
  • #42,330
  • Apr 5, 2013 11:31am Apr 5, 2013 11:31am
Quoting Robby
Yes, I am taking 3/4 off. Sold 20 lots and keep 5 now I am moving my stop to 28 even. If I am away and they hit is no big deal. I know when I have lots of more than 20 on IB they will stop hunt it if the market is with in 25 ticks of it. Had to change all the amounts on stop and target. Anyways, guys I am out of here to go install some electronics in my dads airplane. Hope everyone has a good weekend!
good work Robby....makes U feel better doesn't it....what type of plane does Ur dad fly I used to fly...quite a bid (Part 135) freight.....

Can U explain IB to me.....you can't be serious..but I believe U ...25 ticks either way???
  • #42,331
  • Apr 5, 2013 11:37am Apr 5, 2013 11:37am
Good Job Robby, great weekend man
  • #42,332
  • Apr 5, 2013 11:51am Apr 5, 2013 11:51am
A second welcome to the thread Pilager, let me concur with Euro JD and say that we are traders first and poster 2nd. As you will find once you get into it, posting and trading can and sometimes is hard to do.
Because you are new to the thread, you may not know but we guys do post before and sometimes right when a move happens. You just haven't seen efuff of us posting as yet. Moreover, on days like this, it can be hard to do because of how fast the market may move and we guys sometimes get into positions way before a major move.
Like yesterday for instance, I was in from 2870 and left half my position in in anticipation of today move. I'll re post it in a bit.
But as your trading and posting experience gains you will see all your've mentioned from us guys.

Quoting Pilager
I just read quotes of guys getting 40- 50 pips at a go, so it sounds like some people are working on a FX strategies. Also, I'm very new here but I think it'd be great if people actually posted just before or after making a move. That would be very helpful as it would give other member a chance to review and check their current strategies. I don't feel saying "I went long 5 hours ago at 1.2800 and I'm closing the trade +60 pips is very helpful at any particular moment. Would have been better if you said it then, and gave your reason so that other...
  • #42,333
  • Apr 5, 2013 11:54am Apr 5, 2013 11:54am
See my post from yesterday Pilager : with analysis before gettign into the move.
Quoting Lucrativ
Pissed off mad, hella day today, first missed the damn short last nite cuase fell asleep, then got back in this morning in nice entry for a short, only to have the it spike me out my position and continue on its way short anyway without me, then was too damn busy at work to watch the screen to get back in.... Lucky enuff, was able to get in on the upmove for what now looks like +64. NFP better not kick me back down, i'm leaving in until tomorrow, my daily doesn't show anything above in the form of R until the 1.3040. Wish me luck guys...
  • #42,334
  • Apr 5, 2013 11:54am Apr 5, 2013 11:54am
Short @ 17
Trade smaller than rational because the market is irrational...
  • #42,335
  • Apr 5, 2013 11:55am Apr 5, 2013 11:55am
Quoting Lucrativ
A second welcome to the thread Pilager, let me concur with Euro JD and say that we are traders first and poster 2nd. As you will find once you get into it, posting and trading can and sometimes is hard to do. Because you are new to the thread, you may not know but we guys do post before and sometimes right when a move happens. You just haven't seen efuff of us posting as yet. Moreover, on days like this, it can be hard to do because of how fast the market may move and we guys sometimes get into positions way before a major move. Like yesterday for...
AMEN brother God's Truth
Trade smaller than rational because the market is irrational...
  • #42,336
  • Apr 5, 2013 11:57am Apr 5, 2013 11:57am
Pilager, and here's my post from last nite, complete with analysis and chart.
Quoting Lucrativ
Nitey nite all, after 10 here and eyes wide shut. JD, MIGS, Steve the walker and rehorst..good to see the old faithfuls. I'm holding my long into NFP from 2870, had a horrible day missed most of the move down as i posted earlier due to work. My D1 just doesnt show any R until 3050's,plus look at that a long tail (fractal). so i've planned my trade and i'm gonna trade my plan.. of course i could be wrong and it's up to the market to tell.... See you guys tomorow... {image}
  • #42,337
  • Edited 12:10pm Apr 5, 2013 11:58am | Edited 12:10pm
Part 135...I know several people who use to do that. Were you in piston or turbine? Well my dad just has a little piper arrow 200 1973. I have pull out all the analog stuff and I am going through replacing everything. Put in GTN750, EFD1000, now I am putting in ECI electronic ign and getting rid of one Mag. That is this weekend job. Personally I do not like the airplane. One way too slow! only 120knots level flight and piper will have you think you have 50gal of gas when you really only have 44 at max. So 150nm and back, you better be looking at the airport and no go around because you do not have the gas. That is running LOP too!!! Sucks!!! I was for a baron or bonanza but he bough this crap airplane. I will say one thing it has the smoothest engine I have every seen. Feels like you are in a turbine and the stall is very gentle when it breaks since it has all the gap seals and mods on the airplane.

IB...interactive brokers well I have notice when their is a spread in the bid / ask you will see very quick flashes of sizes above and below the block that is showing the market depth. When you see that with in 20 to 30 mins those position will get hit. Has happened to me not once but 15 times. So I know it's IB hunting stops. They will not do it on Profit orders to close out a position but they will do it on a stop that is in profit too but it's less likely. Defiantly when the stop is in a loss it will get hit if the market gets with in 20 ticks of it and the stop is over 20 normal lots. Has been my experience with IB for better than 10 years.

Why I try to keep my lots below 10 with IB. Under 10 like 5 or 8 generally you only get slip a few ticks on all the orders in and out or stops. I know when I was doing STUPID STUFF like trading 100 lots those orders got hit fast. They have some kind of a scale their. I know 20 and better is one bracket and 10 to 20 is a bracket. Under 10 is do not screw with or not as bad. I think when you have positions over 1M that is the triger to start screwing with you and over 10M and 100M they look at those positions. Only reason why I was in at 25 because I believe in this move. Normally I am 1 to 8. With a 3 way enter. 1 then 2 then 6 making 8 lots. I try 3 times to get the swing point. If I can not catch it or only catch it at 1 then okay...if I can catch it at 2 that is better but I prefer to catch it at 3 like I did this bottom....That is if this is the bottom for a new swing higher. Time will only tell if I am correct or not.
Quoting TraderPablo
good work Robby....makes U feel better doesn't it....what type of plane does Ur dad fly I used to fly...quite a bid (Part 135) freight..... Can U explain IB to me.....you can't be serious..but I believe U ...25 ticks either way???
  • #42,338
  • Apr 5, 2013 11:58am Apr 5, 2013 11:58am
Euro Jd, i'm off to grab some lunch, check back in with you guys later after 2pm here, GL on that short
  • #42,339
  • Apr 5, 2013 12:04pm Apr 5, 2013 12:04pm
Quoting Lucrativ
Pilager, and here's my post from last nite, complete with analysis and chart.
take care still short some.....
  • #42,340
  • Apr 5, 2013 12:19pm Apr 5, 2013 12:19pm
Quoting Lucrativ
Euro Jd, i'm off to grab some lunch, check back in with you guys later after 2pm here, GL on that short
Enjoy brother I am here slaving away. No lunch for me.
Trade smaller than rational because the market is irrational...
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