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EURUSD

  • #924,341
  • Sep 16, 2014 11:26pm Sep 16, 2014 11:26pm
Holy F*** EU is so boring.. takes forever for movement.
I don't know how people can only trade one pair.. i'd go Ape S***

maybe it will get a kick in the ass tomorrow.. pls, move 500 pips up or 500 pips down, but just do something

wheres that guy?
- 10 LOTS LONG COME AT ME BRO

or

PANDA? 1.3333

if this keeps up may have to switch to scalp mode for target 4 pips a trade.

  • #924,342
  • Sep 16, 2014 11:33pm Sep 16, 2014 11:33pm
Quoting Nabz
{quote} Stop loss at 150 pips?
I find it prudent to split the risk and take several trades at many levels than only one trade at one particular level. It maximizes operating capacity and minimizes risk. If WTF happens or I am wrong, it is less likely that all my trades get affected in the same manner. But most importantly, it provides frequent opportunities as all the money is not blocked in one or two trades. However, it also depends what one's method requires. My method tells me to go from end to end building / deleting positions at key levels. When not sure about the market direction, do take few pip trades but do not rely much on them. In such a situation, 300, 500 or 1,000 pip trades are the best. It does not mean a 150 pip sl cannot get hit, but at the same time it can also provide a gain for equal number of pips or more.
Attached Image
The Thief of Wall Street
  • #924,343
  • Sep 16, 2014 11:44pm Sep 16, 2014 11:44pm
Quoting Chicky
{quote} I find it prudent to split the risk and take several trades at many levels than only one trade at one particular level. It maximizes operating capacity and minimizes risk. If WTF happens or I am wrong, it is less likely that all my trades get affected in the same manner. But most importantly, it provides frequent opportunities as all the money is not blocked in one or two trades. However, it also depends what one's method requires. My method tells me to go from end to end building / deleting positions at key levels. When not sure about the...
I scale into positions as well, a good strategy IMO. Works most of the time, provided you will cut positions should they really keep moving against you. (Gotta watch those 160 pip gaps on sundays- like a few Cable pairs a couple weeks ago.. if your'e getting close to stops- or all positions closed at the same SL.)

But scaling in has been working well for me consistently. Problem is, with only small ranges like EU last week or so,
not much to be made with small positions, so alternatively switching to a diff strategy like bigger positions and a few pips works for that type of market condition.. but not the way I like to trade..expecially if it breaks out and you have a big position at one level, kinda risky..
  • #924,344
  • Sep 16, 2014 11:55pm Sep 16, 2014 11:55pm
Quoting 2012mysterio
{quote} I scale into positions as well, a good strategy IMO. Works most of the time, provided you will cut positions should they really keep moving against you. (Gotta watch those 160 pip gaps on sundays- like a few Cable pairs a couple weeks ago.. if your'e getting close to stops- or all positions closed at the same SL.) But scaling in has been working well for me consistently. Problem is, with only small ranges like EU last week or so, not much to be made with small positions, so alternatively switching to a diff strategy like bigger positions...
I do not scale in or scale out. It is just that I look at the whole economic and political scenario and make up my mind where it can go for several hundred or a thousand pips. Then gradually start opening several positions when pa moves. Some positions are 10/20 pips, some for 25/50, some for 500/1000, etc. in both directions and on several pairs. A weaker economic/technical development ends my few pip trades, while longer term trades keep running. I close or open new trades as scenario changes. If mega fundamentals change, I also close my longer term trades. I think this is the best way to trade in a market that is dependent on several ever changing factors. One reason I always say "KEEP YOUR POSITIONS AS SMALL AS POSSIBLE" ........................ no one asked me "Small but how many?" This How Many and Frequent compensates one for Small.

ps. Trying to play less than 50 pip trade in this scenario to me will be pure gamble. I have no other trade in the vicinity of 150 pips at the moment, occasional scalp is something different.
The Thief of Wall Street
  • #924,345
  • Sep 17, 2014 12:07am Sep 17, 2014 12:07am
EURUSD is forming a symmetrical triangle on H4 chart ahead of the important FOMC meeting, scheduled for the later part of the day. The formation together with the fundamentals signal upcoming volatility and the traders are advised not to take positions ahead of the meeting. If taken, adopt proper risk management tools. Downside support of 1.2920 and 1.2930 becomes important for determining the EU moves. However, a sustained break of 1.2980 can call for the pair to test 1.3150 and 1.3230 immediately.
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  • #924,346
  • Sep 17, 2014 12:14am Sep 17, 2014 12:14am
Quoting Chicky
{quote} Wait until it breaks and stays below 1.2948. If it stays there, I will also go short.
It is now below 1.2948. If it stays there for 24 hours, I will look for a short entry.

ps. Did it go below 1.2948? I checked my chart it says 1.2948,2
The Thief of Wall Street
  • #924,347
  • Sep 17, 2014 12:20am Sep 17, 2014 12:20am
Quoting Chicky
{quote}Did it go below 1.2948? I checked my chart it says 1.2948,2
Oanda here...lowest I got is 2948 bang on


PS - Good morning !
Why sell the bottoms when you can buy the tops...
  • #924,348
  • Sep 17, 2014 12:26am Sep 17, 2014 12:26am
Quoting JustAndy
{quote} Oanda here...lowest I got is 2948 bang on PS - Good morning !
That is no good for bulls. If they knock, they also try to bang. Setting a buy at this level with few pip sl, may get lucky for 10/12 pips.
The Thief of Wall Street
  • #924,349
  • Sep 17, 2014 12:35am Sep 17, 2014 12:35am
the trend is down
  • #924,350
  • Sep 17, 2014 12:37am Sep 17, 2014 12:37am
Desperate for solid opinions - my head is spinning with all the reading I am doing. Bottom line, I have 6 lots EU LONG. Give me options - what are my safest, somewhat less safe and outright foolhardy. Throw at me something I haven't yet thought about. Trigger my brain in an unusual direction. I'm down about 100 pips already.
  • #924,351
  • Sep 17, 2014 12:43am Sep 17, 2014 12:43am
Quoting Erica123
Desperate for solid opinions - my head is spinning with all the reading I am doing. Bottom line, I have 6 lots EU LONG. Give me options - what are my safest, somewhat less safe and outright foolhardy. Throw at me something I haven't yet thought about. Trigger my brain in an unusual direction. I'm down about 100 pips already.
My opinion: The trend is down.With the china stealth QE of yesterday (500bn yuan liquidity to the top 5 chinese banks) the market spiked up, but the overall situation on eur and dollar remain the same, the dollar is cutting his qe on a monthly basis, while the eu is starting to print money.Then, the usa economy is recovering (at least that's what they say), while the eu economy is sinking.As for the chart, it is simply on a downtrend.Everything make me think that we will go deep down today, at least this is my opinion.
  • #924,352
  • Sep 17, 2014 12:47am Sep 17, 2014 12:47am
Quoting tunera
{quote} My opinion: The trend is down.With the china stealth QE of yesterday (500bn yuan liquidity to the top 5 chinese banks) the market spiked up, but the overall situation on eur and dollar remain the same, the dollar is cutting his qe on a monthly basis, while the eu is starting to print money.Then, the usa economy is recovering (at least that's what they say), while the eu economy is sinking.As for the chart, it is simply on a downtrend.Everything make me think that we will go deep down today, at least this is my opinion.
That is my gut gut feeling too. Of course with 6 lots losing 100, its tough to be subjective. Let me add that regardless of good or bad for USA, EUR is so bad that it almost feels that USD will get strong either way, and this stall is just for the pre-race, just the appetizers being fed until the cows come to feed and chase us all of out tiny lots and stupid (according to them) opinions. Such a shame I have to get rid of my position.
  • #924,353
  • Sep 17, 2014 12:55am Sep 17, 2014 12:55am
Quoting Erica123
Desperate for solid opinions - my head is spinning with all the reading I am doing. Bottom line, I have 6 lots EU LONG. Give me options - what are my safest, somewhat less safe and outright foolhardy. Throw at me something I haven't yet thought about. Trigger my brain in an unusual direction. I'm down about 100 pips already.

when you entered your longs for reason X you should already have known at what point X becomes invalid. So ask yourself, is your reason for entry still valid? if not cut the losses because you are now in a battle of watching the screen to see which way the wind blows rather than trading with a plan.
  • #924,354
  • Sep 17, 2014 12:55am Sep 17, 2014 12:55am
Quoting Erica123
{quote} That is my gut gut feeling too. Of course with 6 lots losing 100, its tough to be subjective. Let me add that regardless of good or bad for USA, EUR is so bad that it almost feels that USD will get strong either way, and this stall is just for the pre-race, just the appetizers being fed until the cows come to feed and chase us all of out tiny lots and stupid (according to them) opinions. Such a shame I have to get rid of my position.
Well the future is not written yet, so nobody really know if this thing will go up or down from here (you still have a 50% chances of recover your loss).However, to me this looks like a perfect sell opportunity (i'm selling), so i've written it here, knowning that also the most perfect opportunity sometime do fail (and that's why i think the whole opinion thing is useless).Best of luck to you!!
  • #924,355
  • Sep 17, 2014 12:59am Sep 17, 2014 12:59am
Quoting Erica123
Desperate for solid opinions - my head is spinning with all the reading I am doing. Bottom line, I have 6 lots EU LONG. Give me options - what are my safest, somewhat less safe and outright foolhardy. Throw at me something I haven't yet thought about. Trigger my brain in an unusual direction. I'm down about 100 pips already.
Are you willing to change your strategy? That's a big change. Think about it.

Simple tips: When you are not comfortable at your seat, you got to close your position. This is my healthy trading secret
  • #924,356
  • Sep 17, 2014 1:01am Sep 17, 2014 1:01am
Quoting MaxDoom
{quote} when you entered your longs for reason X you should already have known at what point X becomes invalid. So ask yourself, is your reason for entry still valid? if not cut the losses because you are now in a battle of watching the screen to see which way the wind blows rather than trading with a plan.
Totally agree with you Max. I had similar situation at 1.33331.
  • #924,357
  • Sep 17, 2014 1:02am Sep 17, 2014 1:02am
Good Morning!

Today's S/R Levels on MT4 Templates

EURO
CABLE
AUDUSD
GOLD

http://www.forexfactory.com/showthre...51#post7743151

EURO PINK
CABLE PINK
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #924,358
  • Sep 17, 2014 1:12am Sep 17, 2014 1:12am
Though there are many probabilities, I will wait for 1.29335 until NY opens then go long.
  • #924,359
  • Sep 17, 2014 1:21am Sep 17, 2014 1:21am
Quoting Magicmen
{quote} Totally agree with you Max. I had similar situation at 1.33331.
it seems he was not interested in our opinions, maybe he didn't like the answer
  • #924,360
  • Sep 17, 2014 1:27am Sep 17, 2014 1:27am
Quoting Erica123
Desperate for solid opinions - my head is spinning with all the reading I am doing. Bottom line, I have 6 lots EU LONG. Give me options - what are my safest, somewhat less safe and outright foolhardy. Throw at me something I haven't yet thought about. Trigger my brain in an unusual direction. I'm down about 100 pips already.
Gidday Erica

Maybe spread your trades through the charts

with pending orders,in good places

Bit safer playing the game on your terms.

The EUR at the moment is unpredictable.

Big deal some trades might takes days to targets

Just takes longer to win
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