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  • #957,101
  • Feb 3, 2015 3:23pm Feb 3, 2015 3:23pm
Quoting janpec1000
{quote} Lets ride that nasty thing down. It had enough. Time to go where it bellongs, maybe here: http://upload.wikimedia.org/wikipedi...h_location.jpg Sell pending GJ 178.35 SL above high. GJ you had enough too. Go trigger my short and join EU party on down side.
Ok ok, gimme few GJ, I buy it . No, not top actually.... Anyway, still lots of space to cover ECB candle, not safe entry now imo. Have stops above 1,16.
"I know one thing, that I know nothing." Sokrates
  • #957,102
  • Feb 3, 2015 3:33pm Feb 3, 2015 3:33pm
Hi all!
Would love some advice on a question that I have.

Currently with a local broker down in SA and when I have the option to buy/sell there is no place for me to say place $10 on a pip, it only has risk..
Is this normal?
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Up and coming champion Pip collector.
  • #957,103
  • Feb 3, 2015 3:34pm Feb 3, 2015 3:34pm
Quoting goldfinch
{quote} That is 120 odd pips away, the ADR of the last month, without the fundamental days is only a little over 95 pips, you may well have to wait until thursday before we see that. We still have 1.164 to contend with, there is nothing guaranteeing you just yet that we are going down to your entry before we hit 1.16. I am countering here, but as I said a few hours back if I get 40-50 pips out of it I am happy and may well clear the decks before then. Last night during Asia we had a large dollar move on fundamentals again, nothing technical there...
yes, my fault, when it jump up i did't think that's can go up more than ,143.. there's no fundamental reason except merkel/greece thing. even if it back to 1,14 for me it's ok. maybe it's another lesson, as we know, for lessons we must pay..so not bad today i get 52 pips + except this unexpected for me bullish ride..
  • #957,104
  • Feb 3, 2015 3:41pm Feb 3, 2015 3:41pm
Quoting MrInvestar
Hi all! Would love some advice on a question that I have. Currently with a local broker down in SA and when I have the option to buy/sell there is no place for me to say place $10 on a pip, it only has risk.. Is this normal? {image}
lol @ guaranteed stops
  • #957,105
  • Feb 3, 2015 3:41pm Feb 3, 2015 3:41pm
Quoting maldegnegi
{quote} Thank you so much for taking the time and explaining to me Goldfinch, really appreciate that. Indeed you are right. I acted irresponsible even tough I had a plan to hedge completely if 1.1375 is taken which I actually did and yes I had 4 lots of short and at that time was enjoying the large leverage option of my broker. Really stupid I know. As you have seen the trades I have done above 1.1430s is just manic depressiv. just stupid. traded like an amoc runner. Another problem I have is, demo trading you are saying fine but I have done that...
If you ask me, open live 1000$ account and trade it accordingly to plan and mm. Demo isnt the same. Period.
  • #957,106
  • Feb 3, 2015 3:44pm Feb 3, 2015 3:44pm
Quoting MrInvestar
The beauty of demo accounts is that you can refine your trading strategy to a fine T before you enter live...
Is good for total starters but imo pretty dangerous. See demo beeing fake it is much easier for you to stay profitable and once you get live you fack up. Better invest 100 bucks and send it to some stupid bucket shop ready to loose it, just to see how market mechanics work. Just a recommendation. GL, T
"I know one thing, that I know nothing." Sokrates
  • #957,107
  • Feb 3, 2015 3:45pm Feb 3, 2015 3:45pm
Quoting Tom_D_Trader
{quote} Is good for total starters but imo pretty dangerous. See demo beeing fake it is much easier for you to stay profitable and once you get live you fack up. Better invest 100 bucks and send it to some stupid bucket shop ready to loose it, just to see how market mechanics work. Just a recommendation. GL, T
Yeah I think its great just to see how the market works.. But because I have no attachment to the money it makes things easier.. When i open a live account its going to be very different.
Up and coming champion Pip collector.
  • #957,108
  • Feb 3, 2015 3:49pm Feb 3, 2015 3:49pm
Quoting MrInvestar
{quote} Yeah I think its great just to see how the market works.. But because I have no attachment to the money it makes things easier.. When i open a live account its going to be very different.
Good thinking. Keep it up
"I know one thing, that I know nothing." Sokrates
  • #957,109
  • Feb 3, 2015 3:58pm Feb 3, 2015 3:58pm
Quoting goldfinch
{quote} Adding 1.1522, averaging 1.1506


Clearing the decks for 32 pips, right before the roll.

Even managed to get my lowest entry in the green with a measly 2 pips, highest is cleared for 54 pips, overall a nice little 32 pip average trade. Beats a sharp stick in the eye any day of the week.



And on that bombshell have a good night y'all.
A contrarian; I always disagree.
  • #957,110
  • Feb 3, 2015 4:16pm Feb 3, 2015 4:16pm
Quoting sisse
{quote} ... I am tracking 1.150x for the roll. Above with equities without testing highs yet will open at least one more leg up intraday the test the highs and remember that 1.154x is not yet technically tested. A close below with equities topping will point to a imminent reversal with the appropriate NFP play later... sisse
...and we rolled below 1.150x with equities a few ticks below highs. So 1.154x marginally open for tomorrow until NFP. 1.142x new level to track for this week. Daily close fairly bearish on the context of the main trend for the first time in over a week.

As long as bastard in european equities keep squeezing pennies on the highs it wont be momentum to the down side in the euro. Nothing to see until tomorrow european reaction on the test 1.150x. Keeping short term outlook in neutral until the european session.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #957,111
  • Feb 3, 2015 4:18pm Feb 3, 2015 4:18pm
Quoting 3Davy
{quote} Nice screenshot but thats easy when you see it. Tell me whats next?
If you did not open a short position, you can still do it. Your RR will be worse though. There is potential to go at least to 1.1370 - do your count
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  • #957,112
  • Feb 3, 2015 4:27pm Feb 3, 2015 4:27pm
Quoting enigma4x
{quote} back after 1 year - just to take a look to the crowd ... so far it works well ... nothing changed - TAH is talking Bullshit --- Sonic say hello every week to new traders --- keep up --- lol {image} https://www.youtube.com/watch?v=WYTBsN-KeNE cheers ... enigma4x aka emc2
wouldnt be surprised ...
...

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...

enigma4x
enjoy my life ... and ride the waves - all what I do
  • #957,113
  • Feb 3, 2015 4:35pm Feb 3, 2015 4:35pm
Quoting maldegnegi
{quote} Thank you so much for taking the time and explaining to me Goldfinch, really appreciate that. Indeed you are right. I acted irresponsible even tough I had a plan to hedge completely if 1.1375 is taken which I actually did and yes I had 4 lots of short and at that time was enjoying the large leverage option of my broker. Really stupid I know. As you have seen the trades I have done above 1.1430s is just manic depressiv. just stupid. traded like an amoc runner. Another problem I have is, demo trading you are saying fine but I have done that...
You are an experienced person and know the game, but still I feel like sharing this with you.

Forex is a completely different ball game. There are so many factors affecting prices and that too keep on changing all the time plus you never know how this market would react to these changes, I mean, if something happens that is supposed to be good for the currency, it is not necessary that market would instantly react in the most logical way. Then there are three sessions representing three different economies and each one of these try to take a pair where their interest lie.

What you did during this today's sudden move is very common, many do it until they know one has to wait for release of all major data because these can be conflicting, also because different economies try to counter each other's results. I was expecting this move even just after Australian rate announcement, but like always, market takes time in doing right thing as there were few other data lined up. I was frustrated because it was not moving soon, but there is nothing we can do on the timings of the move. It is better to buy late than in anticipation, at least you have a thrust there to lock few pip profit with a tight stop loss. This way, you only add or subtract your account but it is far better than dividing your account.

If you look at the history of my explorers (mostly blown accounts), would notice that risk management and timing is the key. Another important thing in forex is that you would see your account multiplying but it is the addition that is real profit. Never be afraid of seeing your profits vanish, provided you have booked few pips. Just ignore the unrealized profits, they are nothing but illusion, difficult but a fact.

If your account is too small in dollar terms, focus on equity percentage and not the amount.
The Thief of Wall Street
  • #957,114
  • Feb 3, 2015 4:57pm Feb 3, 2015 4:57pm
Quoting Chicky
{quote} You are an experienced person and know the game, but still I feel like sharing this with you. Forex is a completely different ball game. There are so many factors affecting prices and that too keep on changing all the time plus you never know how this market would react to these changes, I mean, if something happens that is supposed to be good for the currency, it is not necessary that market would instantly react in the most logical way. Then there are three sessions representing three different economies and each one of these try to take...
As a live example, look at the euro/usd how it is retracing now (after NY Session) in anticipation of a possible counter move by European Economy. Some consider it going to Daily Pivot Level. One wise guy here mentioned that all these technicals come into existence during this waiting time when one waits to see how opponent economy is going to return the ball to the opposite court.

I may be wrong, but to me this retrace is a normal retrace and we will go still higher, about 100 or so pips. I don't know when it will happen and how, but this is my thinking. Now I have to tune my money management for this possibility and wait for the right time.
The Thief of Wall Street
  • #957,115
  • Feb 3, 2015 5:32pm Feb 3, 2015 5:32pm
Quoting Chicky
{quote} You are an experienced person and know the game, but still I feel like sharing this with you. Forex is a completely different ball game. There are so many factors affecting prices and that too keep on changing all the time plus you never know how this market would react to these changes, I mean, if something happens that is supposed to be good for the currency, it is not necessary that market would instantly react in the most logical way. Then there are three sessions representing three different economies and each one of these try to take...
Thank you very much Chicky - loved the nick name by the way.

I hear you as well, in fact I have not expected you experienced traders to pay attention to my stupidity and tried to explain me things that I may or most likely need going on forward. I am surely sad but it is not because I lost 11.5K in two months but the way I changed my planned trading method completely.

Here what I initially started with:

- Every day, I check the Daily piv support and resistance levels
- I choose a level and direction taking into many factors after London opens and wait for at least first hour of the London trading session.
- I check in the mean time bolinger bands and RSI starting from 5 M to 4H - if my direction is long to get a good entry level try to get in closer to lower band of bollinger and the other way round if I want to short
- I take a position that even if I am wrong, my account won't blow up even if it moves 300 pips against me however I close or hedge the position if it moves more than 50 pips against me. and do not trade if that happens for that day.
- Pick the direction and execute the trade

This is how I started and was very succesful but then I changed everything from top to bottom. I dont really know how why I changed it.

Anyway, I hope my experience helps me and some traders who are reading this forum.

I started writing a game plan and will assess my trading and I hope I can become sucesful with forex as well The equity markets in turkey has become very difficult lately therefore I am loking for new things to trade and forex is definitely a good area to be in if you dont do the mistakes that I make.

Thank you very much gentlemen. My pain is easing as time goes by and alcohol takes control it is just money in the end no one died. Have a good evening.
  • #957,116
  • Feb 3, 2015 5:36pm Feb 3, 2015 5:36pm
Quoting fxtyrant
{quote} Nope buddy, in fact 1.15 being above, eurusd would atleast hit 1.15 and over flow maybe 10/20 pips above 1.15 like 1.1510/20 before it reverses... 1.1492 high doesnt make sense, seems like games to me so watch out, we maybe headed for 1.15 and above tomorrow, but if that happens ill be shorting hard
Sooo i guess i was right after last night's initial move up to 1.1492, we began seeing people go short i but i knew games werent over and predicted that 1.15 eould be taken out with some overshoot and reversal... But well it overshot by 33 pips recorded highs at 1.1533 last night oh well, im in short eurusd now, and in profit
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #957,117
  • Feb 3, 2015 5:45pm Feb 3, 2015 5:45pm
Quoting fxtyrant
{quote} Sooo i guess i was right after last night's initial move up to 1.1492, we began seeing people go short i but i knew games werent over and predicted that 1.15 eould be taken out with some overshoot and reversal... But well it overshot by 33 pips recorded highs at 1.1533 last night oh well, im in short eurusd now, and in profit
Hey Tyrant, I can't seem to confirm a larger range (for a 24-48 hour period) for the eur/usd. Granted, hitting below 1.145 would open up 1.40 (which would open up 1.130s), while going past 1.15 would claim further upside. But these are all highly dependent on market reactions; what price do you think the eur/usd will end up by the time Friday comes?

Or more importantly, what are the odds of retesting 1.15?
  • #957,118
  • Feb 3, 2015 5:48pm Feb 3, 2015 5:48pm
Quoting maldegnegi
{quote} Thank you very much Chicky - loved the nick name by the way. I hear you as well, in fact I have not expected you experienced traders to pay attention to my stupidity and tried to explain me things that I may or most likely need going on forward. I am surely sad but it is not because I lost 11.5K in two months but the way I changed my planned trading method completely. Here what I initially started with: - Every day, I check the Daily piv support and resistance levels - I choose a level and direction taking into many factors after London...
stick to u roles it looks u have agood plane , its all about money management and risk

visit the grave yard and u will find some good books
http://www.forexfactory.com/showthread.php?t=246111
  • #957,119
  • Feb 3, 2015 5:49pm Feb 3, 2015 5:49pm
important test for edit geppy bull s underway 178 40
If you are new to Forex? Say Goodbye to your account!!
  • #957,120
  • Feb 3, 2015 5:53pm Feb 3, 2015 5:53pm
Quoting kill56
{quote} stick to u roles it looks u have agood plane , its all about money management and risk visit the grave yard and u will find some good books http://www.forexfactory.com/showthread.php?t=246111
Thank you Kill, will definitely check and read. No live trading this week for me, plenty of time. thank you.
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