EURUSD | Page 43721 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD, GBP/USD, USD/CHF

Similar Threads

MT4: how to change "EURUSD" to "#EURUSD"? 3 replies

Re: EurUsd short term 15 replies

did oanda just drop its spread for eurusd to 1 pip? 11 replies

EA for multiple lot limit order for EURUSD 0 replies

NFP nice bump up on EURUSD 2 replies

Attachments: EURUSD
Exit Attachments

EURUSD

  • #874,401
  • Feb 5, 2014 11:17am Feb 5, 2014 11:17am
Hello. Somebody please help me for this.

If I select only high impact news on FF calender. And if I enter trade immediately after news flash, the would that work for me ?

Thanks.
-milkeyway
  • #874,402
  • Feb 5, 2014 11:19am Feb 5, 2014 11:19am
Quoting Davit
{quote} Use this technique if you like How much you are willing to risk in dollar amounts say for example 1k 1k 2dollars a pip is 500pips now take 2 dollars and divide .50 4mini lots and avarage in as you like.Once all in don't add any more.This is the difference between reckless martingaling and averaging in. Once price exceeds 500pips against you then your loss of 1k is already predetermined and is your SL and you should take it as part of trading. To answer to your question I will most likely sell more higher up to 1.40 although fundamentally...

yes, this is how to spread your money to cover a large pip range, not put all your money in a tiny range.
make profit little by little and accumulate, with small position size. not to bet big to make good profit in a month and give it all back in a day.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #874,403
  • Feb 5, 2014 11:30am Feb 5, 2014 11:30am
Quoting ffleo
{quote} yes, this is how to spread your money to cover a large pip range, not put all your money in a tiny range. make profit little by little and accumulate, with small position size. not to bet big to make good profit in a month and give it all back in a day.
This also solves the issue of hard stop loss.I don't worry about spikes or minor news.Trade has been decided based on fundemetals and if you are correct in your analyses of long term direction then one should not fear.People get confused and assume just becouse you don't have SL placed does not mean I don't have one.My SL is overall budget for the trade not hard number on charts.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #874,404
  • Feb 5, 2014 11:37am Feb 5, 2014 11:37am
To build positions one must exercise great patience
One should wait price to go into ideal area.Key S/R zones.
I seriously believe in this philosophy and practice it

"
Crocs have a high strike-rate

It’s fairly safe to say that if a croc gets its jaws around its prey, the prey is not getting away.
Crocs have a good strike-rate because they are patient and wait for the “easy” opportunities and then act with confidence and speed…they don’t hesitate. Whereas a Lion might have many failed hunting attempts trying to catch a Gazelle or some other quick animal, expending a lot of energy in the process, crocs tend to have less “losing trades” or failed hunting attempts…because they don’t waste time or energy…they wait and wait and control themselves with precision until their prey almost walks into their mouth…then they feed.
As traders, waiting and being patient can increase your strike rate. Controlling ourselves is really all we can do as traders…we cannot control our “prey” (the market)…we can only conserve our money and wait patiently until our trading edge presents itself. This is how you get a high strike rate as trader, not by trading a hundred times a week in some futile effort to “scalp” the markets."

Conserving energy for the next kill

The crocodile waits for the big meal because it makes more sense to wait and conserve energy by eating a large chunk of protein less often. The croc conserves energy and time by eating this way and it also is one of the main things that have ensured the survival of crocodiles over hundreds of millions of years during many periods when food was scarce.
If you think about not interfering with your trades as helping to make you money, it might make it easier to do. I actually imagine that I am making money by not trading and by simply doing nothing, because by not losing money from over-trading and over-involvement…technically you ARE making money. A crocodile would probably eat less food overall if it was constantly running around trying to find small prey, the crocodile intuitively knows that by being patient and disciplined it has a better chance at getting a higher-quality meal. The crocodile “knows” itself and its own limitations and uses its strengths to its advantage. Indeed, the fact that the crocodile has been around since dinosaurs walked the Earth is evolutionary proof that the concept of patience and discipline most certainly pays off.
The crocodile intuitively knows that it needs to conserve energy and wait for a big kill, this patience is actually a “skill” for the crocodile and it’s also a habit that has developed and reinforced in crocs over millions of years of providing them with large tasty meals. Longevity is critical to a trader; we need to conserve the money in our trading accounts so that when the “easy prey” or obvious trades come along we can get the most out of them. If we go around trading everything we see we will shrink our trading accounts and we won’t have enough money in our accounts to get the most out of the high-probability signals. Just as if a croc ran around all day trying to catch smaller prey it would not have the energy or positioning to grab the bigger and better prey.
In trading, you have to be defensive and aggressive at the same time
  • #874,405
  • Feb 5, 2014 11:38am Feb 5, 2014 11:38am
I'm short this pair at the moment. I've been lurking around this forum for 3 years and haven't said anything. I'm still learning to trade, but this is what I'm seeing at the moment. The zone indicated on the 4 hour chart below appeared to be a strong demand zone, then price engulfed it, and it is now supply. Sellers seem to be in control at the moment. I'm expecting price to fall to 1.3350.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-h4-fxdirectdealer.png Size: 37 KB
  • #874,406
  • Feb 5, 2014 11:50am Feb 5, 2014 11:50am
Quoting josh1125
I'm short this pair at the moment. I've been lurking around this forum for 3 years and haven't said anything. I'm still learning to trade, but this is what I'm seeing at the moment. The zone indicated on the 4 hour chart below appeared to be a strong demand zone, then price engulfed it, and it is now supply. Sellers seem to be in control at the moment. I'm expecting price to fall to 1.3350. {image}
Josh be careful
forget about candles or charts think why price may spike up.With ECB tomorrow market may anticipate good news hence until then we may get continuous up moves so while you are looking at past history present is painting different picture.
regards
In trading, you have to be defensive and aggressive at the same time
  • #874,407
  • Feb 5, 2014 11:51am Feb 5, 2014 11:51am
Quoting Bluescalper
{quote} This is the 3rd time today have bought euro and will leave it till tomorrow or sl hit which is about 17 pips 1.34987 {image}
Hopefully this time around will get that high 1.3550 taken
  • #874,408
  • Feb 5, 2014 11:58am Feb 5, 2014 11:58am
Hello guys,

Tomorrow will be fun.....
That which does not kill us makes us stronger
  • #874,409
  • Feb 5, 2014 12:00pm Feb 5, 2014 12:00pm
Quoting tanim
{quote} JCL-Forex , its said in the video that the market is overbought but daily RSI is showing moderate oversold condition (40).which one is true?
#1 You always have to trade what is on YOUR charts. And the time frame your chart is showing too.

  1. This is because otherwise you will always have conflicting signals


#2 On the video I note on the daily chart according to the True Trend the current trend is down but price is overbought in that downtrend.

  1. The RSI showing an oversold condition is similar to the True Trend showing the trend is down.

#3 This is one of the difficult parts of trading -since overbought/sold can remain so for extended periods of times- we never know when overbought/sold is a reversal signal or will lead to a deeper continuation of a trend. We need to be aware of both occurring during those points.

Your RSI is showing the pair in the downtrend (as is the True Trend). The True Trend is adding price is overbought in that downtrend (3 positive daily price bars in a row in that downtrend) - is it a good time to sell while the pair is overbought in a downtrend? Or is this the start of a near term trend change? I don't know.

  • #874,410
  • Feb 5, 2014 12:03pm Feb 5, 2014 12:03pm
Quoting Davit
{quote} Use this technique if you like How much you are willing to risk in dollar amounts say for example 1k 1k 2dollars a pip is 500pips now take 2 dollars and divide .50 4mini lots and avarage in as you like.Once all in don't add any more.This is the difference between reckless martingaling and averaging in.Since you are not entering full lot at 3570 but only .50 and as you go up every 50pips your distance of 500pips increases far more at 37 you are only red -130 dollars instead of full lot at 3570.If price turns around at 37 your -130 can quickly...
I like that It keeps you busy.

My way is bit boring. I wait for the turning point, leverage more and exit quickly. Most of the time, I sit idle
  • #874,411
  • Feb 5, 2014 12:17pm Feb 5, 2014 12:17pm
Quoting JCL's-Forex
{quote} #1 You always have to trade what is on YOUR charts. And the time frame your chart is showing too. This is because otherwise you will always have conflicting signals #2 On the video I note on the daily chart according to the True Trend the current trend is down but price is overbought in that downtrend. The RSI showing an oversold condition is similar to the True Trend showing the trend is down. #3 This is one of the difficult parts of trading -since overbought/sold can remain so for extended periods of times- we never know when overbought/sold...
In my view 1.35 is neutral zone.Its neither up or down.Hence one must wait to see which way market prefers to push price.
Notice how price just stops at 1.38 38fib
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.weekly.png Size: 44 KB
In trading, you have to be defensive and aggressive at the same time
  • #874,412
  • Feb 5, 2014 12:22pm Feb 5, 2014 12:22pm


Short 1.3538 SL 1.3580 TP manual
  • #874,413
  • Feb 5, 2014 12:31pm Feb 5, 2014 12:31pm
Quoting moneymove
Hello guys, Tomorrow will be fun.....
no funn just standart day in the office
Once scalper always scalper
  • #874,414
  • Feb 5, 2014 12:45pm Feb 5, 2014 12:45pm
Quoting freemen
{quote} no funn just standart day in the office
No beautiful boss? To bad.....
That which does not kill us makes us stronger
  • #874,415
  • Feb 5, 2014 12:53pm Feb 5, 2014 12:53pm
Quoting Davit
{quote} Josh be careful forget about candles or charts think why price may spike up.With ECB tomorrow market may anticipate good news hence until then we may get continuous up moves so while you are looking at past history present is painting different picture. regards
Thanks, as I am still very new at this. I typically don't take trades this late in the day, especially when a big news event is coming up on the following day. Thanks for the advice. By the way, I've been reading your money management, and I think that is brilliant. I was wondering though, what happens if price turns in your favor before you utilize all of your risk? Do you add more positions, or do you just don't worry about what you weren't able to add?
  • #874,416
  • Feb 5, 2014 1:04pm Feb 5, 2014 1:04pm
Quoting josh1125
{quote} Thanks, as I am still very new at this. I typically don't take trades this late in the day, especially when a big news event is coming up on the following day. Thanks for the advice. By the way, I've been reading your money management, and I think that is brilliant. I was wondering though, what happens if price turns in your favor before you utilize all of your risk? Do you add more positions, or do you just don't worry about what you weren't able to add?
I move my stops to protect profit say for example I have 1.38 sell and 1.37 sell and 136.5
Price moves from 1.38 to 137.20 I move my stops to 3750 to protect profit from 1.38 and if I get stopped out at 1.37.50 then 50pips are added to your account then I re-enter again at 1.3750
So moving stops is important.Never turn a winner to a loser.
regards

Be mindful trading is risky and trade small until you feel comfortable and have good feel with markets.
Play chess regularly at chess.com to stay sharp mentally.Chess teaches about strategy,timing risk,creativity etc.Its not just a game.Its a business model.
In trading, you have to be defensive and aggressive at the same time
  • #874,417
  • Feb 5, 2014 1:09pm Feb 5, 2014 1:09pm
Quoting Davit
{quote} I move my stops to protect profit say for example I have 1.38 sell and 1.37 sell and 136.5 Price moves from 1.38 to 137.20 I move my stops to 3750 to protect profit from 1.38 and if I get stopped out at 1.37.50 then 50pips are added to your account then I re-enter again at 1.3750 So moving stops is important.Never turn a winner to a loser. regards Be mindful trading is risky and trade small until you feel comfortable and have good feel with markets. Play chess regularly at chess.com to stay sharp mentally.Chess teaches about strategy,timing...

What's the point of re-entering at the same price you got stopped out ? If price goes back above 1,3800 you would lose the same amount of money than if you were still in the trade
COT: The precious data ignored
  • #874,418
  • Edited 1:33pm Feb 5, 2014 1:14pm | Edited 1:33pm
Quoting kuroro001
{quote} What's the point of re-entering at the same price you got stopped out ? If price goes back above 1,3800 you would lose the same amount of money than if you were still in the trade
I am assuming with scenario price going in zig zag motion from 3720 up 3750 then dropping again to break 37
You are correct though that one should make trading decisions on live conditions.If I see strong continuous up again then I will re-enter short at 3750+
Basic principle is adding continues profits to your account while still selling.I sold cable 4 times in batches between 1.6650 and 165 and finally closed all shorts at 6443
total of 18% account gain in a month while counter trading.Total opposite what you read in books.
Don't forget principle of shorting was based on fundamentals.I will not short bottom of range or buy at top.This is just common sense.
I also don't give a fk what majority retail positions are.Markets don't give a fk about 6% retail buying /selling power.Its marginal.75% Cable short at 1.6660 and price did plummet down.Retail positions are none factor and anyone who says otherwise can't statistically prove.
This techniques is risky but solid and profitable.
In trading, you have to be defensive and aggressive at the same time
  • #874,419
  • Feb 5, 2014 1:17pm Feb 5, 2014 1:17pm
Quoting Bluescalper
{quote} This is the 3rd time today have bought euro and will leave it till tomorrow or sl hit which is about 17 pips 1.34987 {image}

Up currently +17 closing some @ 1:1 still long though.
  • #874,420
  • Feb 5, 2014 1:28pm Feb 5, 2014 1:28pm
I'm short 1.35325 ... going for sniping,
1,346 traders viewing now