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  • #681
  • Dec 11, 2014 1:10pm Dec 11, 2014 1:10pm
Quoting chsortman
{quote} That's why I've moved my stop up manually below last support so that the only trades going negative are a few of my recent smaller additions. I tend to do 50k at a time... right now I'm up to 2.5M I've been as high as 5M before... which is like 500$ a pip. That racks up quick!
Wow
  • #682
  • Dec 11, 2014 1:10pm Dec 11, 2014 1:10pm
I would love to see the Euro break down here. Fueling some movement for us!
  • #683
  • Dec 11, 2014 1:24pm Dec 11, 2014 1:24pm
Quoting Sunsilk
On my H1 chart we have pushed through the 200 EMA. (GMT Charts, not NY Closing - thanks Ben) and it is sitting on top of of that now. Will be hard to break through that and should provide decent support. {image}
This was a really good post. It made me look at my chart again, since I knew the the H1 200 ema corresponds pretty closely to the D1 8 EMA. I knew something was off on my chart, since I saw price below daily 8 EMA, and you posted price above H1 200 EMA. That's how I caught the mistake. And realized I had incorrect parameters on my daily 8 EMA. Once I fixed it, then I saw it above the 8 ema. So thanks for this post

Having said all of that, we need to see price move away from this area, or it could still fall back a bit, and get stuck between daily 8 ema and 20 ema area, which would cause price to range for a few hours, days or more...
  • #684
  • Dec 11, 2014 1:28pm Dec 11, 2014 1:28pm
not sure if I'm liking what I'm seeing here guys
Good luck and may the odds be ever in your favor!
  • #685
  • Dec 11, 2014 1:30pm Dec 11, 2014 1:30pm
Quoting dbutton1990
not sure if I'm liking what I'm seeing here guys
Yep, watching closely. As posted, this is really, really, key area. I might jump out again if it can't find it's legs soon...
  • #686
  • Dec 11, 2014 1:35pm Dec 11, 2014 1:35pm
Quoting benaiah
{quote} Yep, watching closely. As posted, this is really, really, key area. I might jump out again if it can't find it's legs soon...
I trading 10 Euros a pip. SL coming much money, if jump out and have loss and loss, then it become very expensive. How you Ben afford it? .
  • #687
  • Dec 11, 2014 1:37pm Dec 11, 2014 1:37pm
If we lose .26 I'm out
Good luck and may the odds be ever in your favor!
  • #688
  • Dec 11, 2014 1:44pm Dec 11, 2014 1:44pm
Quoting x58
{quote} I trading 10 Euros a pip. SL coming much money, if jump out and have loss and loss, then it become very expensive. How you Ben afford it? .
I use very tight SL with a very high Risk/Reward ratio. One winning trade can erase many losses for me. So as long as I follow my rules, I'm okay. For example, I can lose 10 trades in a single day, and then have one winner and be in profits.

Current trade with UJ was SLd and am waiting for it to find support - Current scenarios. I've attached a chart. The yellow and blue lines are the daily time frame 8/20 EMAs, but it is a 15 minute chart...

Edit: but as mentioned before, we could range a while if it falls under daily 8 ema
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM15.png Size: 75 KB
  • #689
  • Dec 11, 2014 1:47pm Dec 11, 2014 1:47pm
Quoting benaiah
{quote} I use very tight SL with a very high Risk/Reward ratio. One winning trade can erase many losses for me. So as long as I follow my rules, I'm okay. For example, I can lose 10 trades in a single day, and then have one winner and be in profits. Current trade with UJ was SLd and am waiting for it to find support - Current scenarios. I've attached a chart. The yellow and blue lines are the daily time frame 8/20 EMAs, but it is a 15 minute chart... Edit: but as mentioned before, we could range a while if it falls under daily 8 ema {image}
How tight SL you have?
  • #690
  • Dec 11, 2014 1:49pm Dec 11, 2014 1:49pm
Quoting x58
{quote} How tight SL you have?
I consider 20 pips too big. Usually around 10-15 or less. My favorites are when I find trades with only 3-5 pips SL.
  • #691
  • Dec 11, 2014 1:49pm Dec 11, 2014 1:49pm
Gidday YEN

Just a thought

As many here are holding longs

You need the Moolaaa fast

keep an eye on EUR/NZ for top up

getting down 1.58 area

Got to keep plenty off pips in the pip bag

to handle these wild moves
  • #692
  • Dec 11, 2014 1:52pm Dec 11, 2014 1:52pm
Quoting benaiah
{quote} I consider 20 pips too big. Usually around 10-15 or less. My favorites are when I find trades with only 3-5 pips SL.
Thank you
  • #693
  • Dec 11, 2014 1:53pm Dec 11, 2014 1:53pm
Regarding my chart above, I expect UJ to find support before or at the 3rd level down (3rd blue box from top). If this strong uptrend/reversal is as strong as we think it is, we should not see more than 2 support levels broken imo. Also, the 3rd blue box corresponds with the daily 20 ema (blue line) so very likely it'll re-test that area.
  • #694
  • Dec 11, 2014 1:56pm Dec 11, 2014 1:56pm
wow I'm a very small fish compared to all of you LOL I am trading 50 p to 1 pound per pip.....
not sure I am liking the look of the last 40 mins but it does need to pull back tiny bits on the way up so going to wait and see......
Benaiah I hear you I hate seeing profits vanish on the ups and down but trying to let it run......
  • #695
  • Dec 11, 2014 1:59pm Dec 11, 2014 1:59pm
I cut my long. I will catch it again on the dip. Locked in profit. It feels good

Edit: lets see if it bounces off of 118.85ish.
  • #696
  • Dec 11, 2014 1:59pm Dec 11, 2014 1:59pm
Quoting TessiaFx
wow I'm a very small fish compared to all of you LOL I am trading 50 p to 1 pound per pip..... not sure I am liking the look of the last 40 mins but it does need to pull back tiny bits on the way up so going to wait and see...... Benaiah I hear you I hate seeing profits vanish on the ups and down but trying to let it run......
Yes, and I wish I could just let it ride as well.

But, so far in my trading journey, I've learned that I just can't handle that much risk/draw-down. I need to see profits right away...
  • #697
  • Dec 11, 2014 1:59pm Dec 11, 2014 1:59pm
Quoting Rizmeister
I cut my long. I will catch it again on the dip. Locked in profit. It feels good
  • #698
  • Dec 11, 2014 1:59pm Dec 11, 2014 1:59pm
This is gunna set us up for a big pop
Good luck and may the odds be ever in your favor!
  • #699
  • Dec 11, 2014 2:04pm Dec 11, 2014 2:04pm
hmm been sitting here trying to decide whether to take profit or not but feeling as though I should do so especially as all of you have locked in seems a bit of a pity now that it's retraced 30 of the pips but would rather it didn't go further...
  • #700
  • Dec 11, 2014 2:06pm Dec 11, 2014 2:06pm
Quoting TessiaFx
hmm been sitting here trying to decide whether to take profit or not but feeling as though I should do so especially as all of you have locked in seems a bit of a pity now that it's retraced 30 of the pips but would rather it didn't go further...

Bouncing a bit right now, just move SL under the candle - around 119.05. If it starts to turn back down, then TP - just a suggestion
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