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EURUSD

  • #788,601
  • Apr 16, 2013 7:20pm Apr 16, 2013 7:20pm
Quoting sophiaphia
CNBC is telling us that Euro hits new high now since Feb25. Hmmm what to do.
yeah this is amazing ... in my opinion is that USA bombing yesterday take effect with EUR New Hits ? ...
lets see
  • #788,602
  • Apr 16, 2013 7:32pm Apr 16, 2013 7:32pm
all we can do ,,, just wait,,

salaam
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  • #788,603
  • Apr 16, 2013 7:36pm Apr 16, 2013 7:36pm
Quoting szpowerx
Hey bro, you see, the above post, is the result i changed my trading plan. Same result once more. Szpowerx' rule, i will not change my plan on the fly.
I am sorry if you lost any money. I was not indicating you had to but practice is what is needed to become better - typically on a demo account. I have a feeling that what you did was not analysis but more or less impulse.

Practice on a demo. Stay to your plan. I am not here to sway you one way or the other. My only point was that FX is fast and you have to learn how to analyze quickly.
When the facts change I change my mind, what do you do sir
  • #788,604
  • Apr 16, 2013 7:43pm Apr 16, 2013 7:43pm
Quoting Pip Anon
Stay to your plan. I am not here to sway you one way or the other. My only point was that FX is fast and you have to learn how to analyze quickly.
Stick to your guns, and learn on the run
  • #788,605
  • Apr 16, 2013 8:15pm Apr 16, 2013 8:15pm
this thing definitely wants 1.33 now. can't see anything coming in the way
  • #788,606
  • Apr 16, 2013 8:22pm Apr 16, 2013 8:22pm
EUR/USD OR 1.3095 - TP 1.3127, OR 1.3100 - TP 1.3122, OR 1.3113 - TP 1.3182 = +123 PIPS / lost 14 pips
GBP/USD OR 1.5320 - TP 1.5374x2, OR 1.5384 TP -1.5388, OR 1.5378 - TP 1.5400 = +134 PIPS / lost 100, 22 and 19 pips on a scale out... pips profit -2 pips // Note Idiot trading
USD/CHF OR 0.9312 - TP 0.9286, OR 0.9308 - TP 0.9296, OR 0.9300 - TP 0.9215 = +123 PIPS / lost 6 pips (wrong button click)

In total 224 pips profit from potentail 380 pips

My first profitable week
  • #788,607
  • Apr 16, 2013 8:33pm Apr 16, 2013 8:33pm
i'm normally a short guy but this looks to be going to 1.3330-60 to throw in the other shoulder from december. it would fit a lot of timing and moving average levels. this ride up is going with the us stock market. when that party ends, this one ain't far behind.
  • #788,608
  • Apr 16, 2013 8:39pm Apr 16, 2013 8:39pm
Quoting Pip Anon
I am sorry if you lost any money. I was not indicating you had to but practice is what is needed to become better - typically on a demo account. I have a feeling that what you did was not analysis but more or less impulse. Practice on a demo. Stay to your plan. I am not here to sway you one way or the other. My only point was that FX is fast and you have to learn how to analyze quickly.
Enter 15, Out 28, not too bad, +13 pips i recall.

I feel better i would insist on my trading plan. Not fly with the wind.

So you see, my way is to stick on my plan, not to change it on the fly.

To tell the truth, i don't believe it is a easy thing to change your plan on the fly. Since you guys said you can change as condition changes, i feel curious.

I will return back to my way, stick with my plan.


"I have a feeling that what you did was not analysis but more or less impulse. "

How you feel this way? BTW.
Outcome is not important at all, but correct technique is what only matters
  • #788,609
  • Apr 16, 2013 8:46pm Apr 16, 2013 8:46pm
i see a baby bear , waiting for Asian bull to finish it's lunch
Mohan
  • #788,610
  • Apr 16, 2013 8:49pm Apr 16, 2013 8:49pm
Quoting szpowerx
Enter 15, Out 28, not too bad, +13 pips i recall. I feel better i would insist on my trading plan. Not fly with the wind. So you see, my way is to stick on my plan, not to change it on the fly. To tell the truth, i don't believe it is a easy thing to change your plan on the fly. Since you guys said you can change as condition changes, i feel curious. I will return back to my way, stick with my plan. "I have a feeling that what you did was not analysis but more or less impulse. " How you feel this way? BTW.
I agree. Stick with what works. What I was talking about was modifying or trade management within your framework. If I am short euro and it is looking to change direction, I won't just watch it is the SL and shrug my shoulders. I will try and analyze my position. Trading doesn't stop once you put on your SL/TP.

The way I think you are talking it is just randomly placing orders (fly with the wind). I mean actively analyzing your positions while they are open. If you are more comfortable placing an OCO (one-cancels-the other) on your trade and let it play out, that's fine too
When the facts change I change my mind, what do you do sir
  • #788,611
  • Apr 16, 2013 8:51pm Apr 16, 2013 8:51pm
Quoting Cornelis
Stick to your guns, and learn on the run
Lol some people can't work like that.
When the facts change I change my mind, what do you do sir
  • #788,612
  • Apr 16, 2013 8:58pm Apr 16, 2013 8:58pm
Quoting Pip Anon
I agree. Stick with what works. What I was talking about was modifying or trade management within your framework. If I am short euro and it is looking to change direction, I won't just watch it is the SL and shrug my shoulders. I will try and analyze my position. Trading doesn't stop once you put on your SL/TP. The way I think you are talking it is just randomly placing orders (fly with the wind). I mean actively analyzing your positions while they are open. If you are more comfortable placing an OCO (one-cancels-the other) on your trade and let...
Okay, thank you.

My way actually should be, once the order is open, it is done. I shouldn't adjust it from then on.

But to place a order in active state, i would be very cautious, my condition should be totally matched, then i will open it.

I will stick to this simple rule, too hard for me to adjust once position is opening. I am blind and subjective once a position is open.
Outcome is not important at all, but correct technique is what only matters
  • #788,613
  • Apr 16, 2013 9:14pm Apr 16, 2013 9:14pm
Quoting szpowerx
This idiot change his trading plan, idiot! Rule 1: Don't change your trading plan on the fly, either SL or TP hit. If kept it there, then this stuff TP2 hit now. I don't regret the profit, what i regret most is not following my rule. This would be kept in my trading journal. {image}
my friend, do not be harsh on yourself. i guess the reason you changed your mind is your leverage is high. for example, usually i use low leverage and 40-50 pip move does not mean much to me. you need to aim at least 100 pips. and road to this is through very low leverage. make tight stop losses and ride the surviving trades, 100-200-500 pips plus. your compass is daily and weekly chart. buy low, sell high, use stop loss, do not use take profit, let your profit rise. it very simple but to get there you need to learn a lot. i am at your level and we need to get the understanding the very core of trading...
As Above, So Below
  • #788,614
  • Apr 16, 2013 9:14pm Apr 16, 2013 9:14pm
Quoting mohan76
i see a baby bear , waiting for Asian bull to finish it's lunch
launching a long here is good for target 3254
  • #788,615
  • Apr 16, 2013 9:16pm Apr 16, 2013 9:16pm
Quoting SnaveForex
launching a long here is good for target 3254
Franky /London open should test 50/60 to increase bull power - just my view

ps i have one pending buy @ 2962 from April 9 it should get filled one way or other
Mohan
  • #788,616
  • Apr 16, 2013 9:22pm Apr 16, 2013 9:22pm
Quoting gatorinla
holding so far.. we probably picked up some larger traders here. i have a small bear wave that if completed would go to 3148.. the mid at 3169.7.. #2 at 3124.7 #3 3110 #4 3097 #5 3092 #6 3089 #7 3084.9 #8 3065 #9 3059.8 #10 3037.8 not much to see here. #1 at 3048 is just a 52 pips retrace. that dont seem like much respect for 3197.. 3226 is a mid.. 3169lm, 3226m, 3283um between is a chop zone.. the chop zone is also where a high % of turns happen. mofus are mofus.
the little bull since the high would want 3226.. the flaggish formation 328x.. neither doing much atm.. the #1 bear is still 3148. below 3169 with closes may drop it some.. mofus dont care about the trend..
those who can, do. those who cant, talk about those who can
  • #788,617
  • Apr 16, 2013 9:22pm Apr 16, 2013 9:22pm
Let's see what this does... my guess is send it back to the top..

https://www.tradingview.com/x/JEJMgKnQ/
  • #788,618
  • Apr 16, 2013 9:28pm Apr 16, 2013 9:28pm
Quoting gatorinla
the little bull since the high would want 3226.. the flaggish formation 328x.. neither doing much atm.. the #1 bear is still 3148. below 3169 with closes may drop it some.. mofus dont care about the trend..
I agree this bull does look strong after the german data. what is your view on the aussie? seems to me it is finding trouble going past 1.0400 and is poised for a move down to 1.0200
  • #788,619
  • Edited 9:39pm Apr 16, 2013 9:29pm | Edited 9:39pm
Quoting tashkent
my friend, do not be harsh on yourself. i guess the reason you changed your mind is your leverage is high. for example, usually i use low leverage and 40-50 pip move does not mean much to me. you need to aim at least 100 pips. and road to this is through very low leverage. make tight stop losses and ride the surviving trades, 100-200-500 pips plus. your compass is daily and weekly chart. buy low, sell high, use stop loss, do not use take profit, let your profit rise. it very simple but to get there you need to learn a lot. i am at your level and...

My leverage is very low, i have a money management plan. From 1.5% per trade watermark, drop to ... reduce it, up to ...increase it. That is money management stuff. Not to talk the detail too much here.

My TP would be three part, TP1, TP2, TP3, half close TP1, the left half TP2, the remainder closed at TP3.

To give an simple example, my TP3 hit of EJ this monday give 250 pips.

You words make sense for these stuffs:
1) tight stop
2) let profit rise.


Anyway, thanks for your reply.

My real reason of closing early comes from one bad habit inside myself: don't like to be wrong. This is also the reason why i determine not to change my plan once the order is active.


Wish your money curve grows.
Outcome is not important at all, but correct technique is what only matters
  • #788,620
  • Apr 16, 2013 9:36pm Apr 16, 2013 9:36pm
Quoting attila
Let's see what this does... my guess is send it back to the top.. https://www.tradingview.com/x/JEJMgKnQ/
i have had these, chief
morning...
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