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Bull City Baby! Buying Opportunities

  • #301
  • Dec 9, 2014 10:46am Dec 9, 2014 10:46am
I think history and experience are the best teachers. When many people are crying buy! buy!1, you run for cover and sell as much as you can. I see EuR/USD falling to 1.20xx
  • #302
  • Dec 9, 2014 11:02am Dec 9, 2014 11:02am
Quoting palinco
I think history and experience are the best teachers. When many people are crying buy! buy!1, you run for cover and sell as much as you can. I see EuR/USD falling to 1.20xx
You are right in experience being the best teacher, trick is too not pay too much for it.
All posts are my personal opinion
  • #303
  • Dec 9, 2014 11:11am Dec 9, 2014 11:11am
Quoting Rtm
{quote} You are right in experience being the best teacher, trick is too not pay too much for it.
That is why we are not robots trading fx. We are expected to use of senses.
  • #304
  • Dec 9, 2014 11:28am Dec 9, 2014 11:28am
First resistance I see is around 120.05ish area. Possible TP area, as I expect a little pull back and/or some consolidation at some point to form a bottom. So far, just skyrocketing knife imo...
  • #305
  • Dec 9, 2014 11:32am Dec 9, 2014 11:32am
Also, 119.52 coming up, could possibly offer some resistance - bulls need to slice through it to show they are in control...
  • #306
  • Dec 9, 2014 11:32am Dec 9, 2014 11:32am
Quoting benaiah
Also, 119.52 coming up, could possibly offer some resistance - bulls need to slice through it to show they are in control...

  • #307
  • Dec 9, 2014 1:37pm Dec 9, 2014 1:37pm
Hi guys, I come in peace

I've just read this thread from start to here and I can tell ya that was quite an opera! I feel for you guys who did your arses big time.... been there.

I just wanted to post this off FxPro news feed. It won't make you feel any better I'm sure, but it might help with the understanding of the context of today.

I really hope traders can learn a lot from these first 16 pages that show perfectly just how merciless Spot Forex can be.

Attached Image (click to enlarge)
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  • #308
  • Dec 9, 2014 1:40pm Dec 9, 2014 1:40pm
The good news is that it moved so violently that it wasn't hard to make back quite a bit right off the bat.
  • #309
  • Dec 9, 2014 2:27pm Dec 9, 2014 2:27pm
I'm not sure why anyone would make a big deal out of this pull back. It lasted for less than 2 days. And as already pointed out, it can all be made back on the rise back up.

Of course, I express my condolences to anyone who lost money on it. I did as well, but only because I disobeyed my own rules, and moved my SL to wider than I am normally comfortable with. If I would have followed my rules, this pull back would not have hurt at all.

Pull backs are buying opportunities. The bigger the pull-back the better and bigger the pip target, as I've posted before.

Also, if you look on the daily chart, it is hardly a drop in the buck, in terms of pull backs, bouncing off the 20 ema. Now if it fell all the way back to the 50 or 100 ema, now that would be significant, and signify an increase in volatility.

Some traders are acting like the trend is over or something. I mean a pull-back to the 20 ema?? Inevitable. And predictable. This one was sudden. But in no way shape or form has it changed how I approach trading this pair.

Edit: I am also up 160+ pips at the time of this posting, as I entered long from 118.09, as I'm sure other traders got in as well. So, the price is moving up now, and it is Bull City Baby!
  • #310
  • Dec 9, 2014 2:34pm Dec 9, 2014 2:34pm
I think it was just so fast... but of course it was predictable. Both of my losses have been when I was sitting at the top of a mountain going... "Should I get off here?" then I say "Nah... it could go higher!" I know that's typical human psychology... I just wish I could master my own instinct and jump out after the crescendo!
  • #311
  • Dec 9, 2014 2:40pm Dec 9, 2014 2:40pm
Quoting chsortman
I think it was just so fast... but of course it was predictable. Both of my losses have been when I was sitting at the top of a mountain going... "Should I get off here?" then I say "Nah... it could go higher!" I know that's typical human psychology... I just wish I could master my own instinct and jump out after the crescendo!
I think we can all help each other with that. As I try to do sometimes, post when I lose confidence or support levels are broken, as in "I'm out", "waiting on sidelines", and give the reason. No harm in taking profit, or closing position to wait and find the better opportunity.

And I do recognize and appreciate when other traders have posted there concerns when I say I'm entering. So, if we keep doing that, it might help us all. I do know I need to work more on discipline and patience. One reason for starting this thread was to hold myself to my own rules, and call myself out if I break them, in the sense that I'll see what I posted, and how it worked out. Kind of like a journal of sorts.
  • #312
  • Dec 9, 2014 2:45pm Dec 9, 2014 2:45pm
Right now, I'm looking at 119.52 as key. Needs to find support above this level. If not, I may TP, and wait on the sidelines.

As I've mentioned before, there has not been much of a reversal pattern, or support level to give a foundation for this move up.

So, I would not be surprised if we see some PA that give us that. I am not overly confident with the current move up, as I know, as does anyone, that price does not move in a straight line. So, what I'll need to see is some sort of consolidation or pull-back that gives a foundation and momentum to the resumption of the trend.
  • #313
  • Dec 9, 2014 2:46pm Dec 9, 2014 2:46pm
Quoting benaiah
I'm not sure why anyone would make a big deal out of this pull back. It lasted for less than 2 days. And as already pointed out, it can all be made back on the rise back up. Of course, I express my condolences to anyone who lost money on it. I did as well, but only because I disobeyed my own rules, and moved my SL to wider than I am normally comfortable with. If I would have followed my rules, this pull back would not have hurt at all. Pull backs are buying opportunities. The bigger the pull-back the better and bigger the pip target, as I've posted...
Couldn't of said it better myself! I lost money on this pullback, and have made half of it back already. If it hits my projected target at 123.50 then I will come out ahead on everything. Keep calm, analayze the market, and don't trade with your emotions!
Good luck and may the odds be ever in your favor!
  • #314
  • Dec 9, 2014 2:47pm Dec 9, 2014 2:47pm
Attached Image (click to enlarge)
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Hard to make it back on the way back up after it did this to ya...Nothing left. Good luck to everyone thou.
The better looser you are the better winner you are
  • #315
  • Dec 9, 2014 2:50pm Dec 9, 2014 2:50pm
Quoting USCGamecocks
{image} Hard to make it back on the way back up after it did this to ya...Nothing left. Good luck to everyone thou.
Keep your head up USC. The market can be a beast.
  • #316
  • Dec 9, 2014 2:54pm Dec 9, 2014 2:54pm
Quoting USCGamecocks
{image} Hard to make it back on the way back up after it did this to ya...Nothing left. Good luck to everyone thou.
I'm really, really sorry to hear of your losses, and hope you'll be okay. But I'm also sorry that you don't have the confidence to benefit from the move back up, as I don't think your account went to zero. The trend is hardly over. But I respect your disciplined decision, if staying out is what you need to do.

Edit: And I also would not want to influence your decision or change it
  • #317
  • Dec 9, 2014 3:07pm Dec 9, 2014 3:07pm
Quoting Rizmeister
{quote} Keep your head up USC. The market can be a beast.
Thanks Rizmeister. I'll try but right now I feel like the beast has bit my head off. Having to do a lot of soul searching at the moment. I've been at this for a good while and after loosing more than 75% of my initial balance it's time to step back and look in the mirror. I never thought I would be part of the so called 95% but it might just be true. Nobody to blame but myself though. It's just a hard pill to swallow after all the time and effort put into this. Sorry to be so negative at the moment.
The better looser you are the better winner you are
  • #318
  • Dec 9, 2014 3:08pm Dec 9, 2014 3:08pm
This is exactly why I take a break from FF often. It can be a huge distraction to ones trading. Sometimes, it's better to just focus on ones trading without any outside influence. I don't listen to any business news shows (radio or TV) and never visit any sites other than this one but this one is becoming a distraction again. I'm very easily influenced. Any second guessing or posting while the market is moving and I hesitate on entries and this kills my R:R. Have to limit myself to just viewing the economic calendar and nothing else during the week. Boredom usually brings me back... Need to work on that... Definitely will check back on weekends. Good luck with the thread. Definitely a good concept.

Quoting benaiah
I'm not sure why anyone would make a big deal out of this pull back. Some traders are acting like the trend is over or something. I mean a pull-back to the 20 ema?? Inevitable. And predictable. This one was sudden. But in no way shape or form has it changed how I approach trading this pair.
SPC * Swollen PocketZ Crew!
  • #319
  • Dec 9, 2014 3:14pm Dec 9, 2014 3:14pm
Quoting benaiah
{quote} I'm really, really sorry to hear of your losses, and hope you'll be okay. But I'm also sorry that you don't have the confidence to benefit from the move back up, as I don't think your account went to zero. The trend is hardly over. But I respect your disciplined decision, if staying out is what you need to do. Edit: And I also would not want to influence your decision or change it
Thanks benaiah. I will be fine and your right I still have 25% of my account left but after all the failure the question is do I just cut and run. My track record is not that good as you can imagine. Just need to do some soul searching. I know I haven't been with y'all very long at all so I appreciate all the help, concern and words of encouragement.
The better looser you are the better winner you are
  • #320
  • Dec 9, 2014 3:27pm Dec 9, 2014 3:27pm
Quoting USCGamecocks
{quote} Thanks benaiah. I will be fine and your right I still have 25% of my account left but after all the failure the question is do I just cut and run. My track record is not that good as you can imagine. Just need to do some soul searching. I know I haven't been with y'all very long at all so I appreciate all the help, concern and words of encouragement.
Okay, thanks for being here, and hope you continue posting.
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