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EURUSD

  • #983,021
  • Apr 20, 2015 9:54pm Apr 20, 2015 9:54pm
Quoting KillerWhale
{quote} I'm still out
Good to hear that.
The Thief of Wall Street
  • #983,022
  • Edited 11:42pm Apr 20, 2015 10:03pm | Edited 11:42pm
Trading plan for today:

(A) Short at 1.0820, target 30 pips or Short at 1.0995 for 10 pips.
(B) Short below the breakout of 1.0719 for 20 pips.

Key Weekly levels:

R7 1.1133
R6 1.0994 Good level to short
R5 1.0864
R4 1.0840 Stronger Resistance
R3 1.0800 Strong Resistance
R2 1.0780
R1 1.0750
PP 1.0725
S1 1.0710
S2 1.0700
S3 1.0680
S4 1.0650
S5 1.0623
Attached Image
Bavarian Trading FX
  • #983,023
  • Apr 20, 2015 10:19pm Apr 20, 2015 10:19pm
My 2nd trade in place (underwater)
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  • #983,024
  • Apr 20, 2015 10:27pm Apr 20, 2015 10:27pm
EU ranging below monthly pivot 0811. Though EU is bearish, my 1st target is 0934.

Edit: Ranging between Monthly (0811) and Weekly pivot (0725)
  • #983,025
  • Apr 20, 2015 11:49pm Apr 20, 2015 11:49pm
Quoting Chicky
{quote} I feel like killing you with my bare hands. This shit is not moving a pip and you posted one thousand levels. ps. In few hours it will form the Inverted Ass Pattern* before going down. * Gator's double hump pattern
But he's just being thorough... because it's very, very important to get the order of those levels correct...

"Then thou must count to three. Three shall be the number of the counting and the number of the counting shall be three. Four shalt thou not count, neither shalt thou count two, excepting that thou then proceedeth to three. Five is right out."
  • #983,026
  • Apr 21, 2015 12:00am Apr 21, 2015 12:00am
Quoting Magicmen
My 2nd trade in place (underwater) {image}
Interesting strategy you have there...you must be really confident in your trading plan since you allowed a trade to go 30+ pips in the read just so it can reverse and book a 10 pip profit
Why sell the bottoms when you can buy the tops...
  • #983,027
  • Apr 21, 2015 12:04am Apr 21, 2015 12:04am
Quoting JustAndy
{quote} Interesting strategy you have there...you must be really confident in your trading plan since you allowed a trade to go 30+ pips in the read just so it can reverse and book a 10 pip profit
Why not? Its a demo account.
  • #983,028
  • Apr 21, 2015 12:23am Apr 21, 2015 12:23am
EURTRY
Short TP 2.88 2.86 2.845
  • #983,029
  • Apr 21, 2015 1:10am Apr 21, 2015 1:10am
oh look im in profit
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We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #983,030
  • Apr 21, 2015 1:18am Apr 21, 2015 1:18am
Quoting JustAndy
{quote} Interesting strategy you have there...you must be really confident in your trading plan since you allowed a trade to go 30+ pips in the read just so it can reverse and book a 10 pip profit
Like Tyrant

Anyway, I was expecting 0934 yesterday. It didn't happen. So closed it manually thinking of reload at lower level. But then, it was too late for me. So opened again @0750 and went to bed
  • #983,031
  • Apr 21, 2015 1:30am Apr 21, 2015 1:30am
Quoting Magicmen
{quote} Like Tyrant Anyway, I was expecting 0934 yesterday. It didn't happen. So closed it manually thinking of reload at lower level. But then, it was too late for me. So opened again @0750 and went to bed
what is the problem of letting a trade go against you 30 pip to eventually take a 10 pip profit....
floating loss is not a loss until you close/ realize the trade in loss....

potential loss doesn't mean it is a loss YET.... it could turn back into profit....
a lot of impatient traders here see their trade is in potential loss and they want to avoid potentially further losses they will close a trade prematurely even if their analysis is right in the long term....
short term volatility cause traders to panic over their views.....
and that's a big mistake and a big thing to overcome for beginners traders here.... overcome fear and don't panic. look longer term and don't over trade. calm down.

BTW theres a saying.... regarding risk management.
you have a bowl of soup, the taste is a bit plain, you add salt... you add 1 teaspoon at a time. instead of the whole flask of salt.... because you'll ruin the soup if you put too much... but you are most likely not gona ruin the soup if you add gradually....
so goes the trading size....

add the trading size gradually instead of going bombsaway and you might just avoid ruining your account.
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #983,032
  • Apr 21, 2015 1:30am Apr 21, 2015 1:30am
Market should not go lower than 1.0725 - 1.0694. After this move down it should go up to 1.0779 - 1.0801 area.
  • #983,033
  • Apr 21, 2015 1:32am Apr 21, 2015 1:32am
Quoting bowman
Market should not go lower than 1.0725 - 1.0694. After this move down it should go up to 1.0779 - 1.0801 area.
Why shouldn't it? I would say market just begun a new bearish trend.... 1.10 high then a 1.0820 lower high..... what next?

don't assume anything dude. you'll get burned.
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #983,034
  • Apr 21, 2015 1:38am Apr 21, 2015 1:38am
Quoting bowman
Market should not go lower than 1.0725 - 1.0694. After this move down it should go up to 1.0779 - 1.0801 area.
when it comes to trading, never use ''should'' or ''must'' . you'll suffer the consequences when the time comes. i learnt the hard wayy.
  • #983,035
  • Apr 21, 2015 1:42am Apr 21, 2015 1:42am
Quoting fxtyrant
{quote} ........BTW theres a saying.... regarding risk management. you have a bowl of soup, the taste is a bit plain, you add salt... you add 1 teaspoon at a time. instead of the whole flask of salt.... because you'll ruin the soup if you put too much... but you are most likely not gona ruin the soup if you add gradually.....
Yeah. I have similar kind of saying. FOREX is a wild river. Drink as much as you can from the river bank, don't dive in

My secret of trading is - I close my trade when I'm not comfortable.

Anyway, EU is looking for 0643
  • #983,036
  • Apr 21, 2015 1:42am Apr 21, 2015 1:42am
hello everyone...
I have my sights @ 1.03627 long term wise regards with the double top pattern 4hr
on a shorter time I have an earlier target @1.062 for the Head and shoulders on a 1hr frame

I just wonder why would anyone wanna try predicting each and every retrace levels its just gonna confuse the analysis or screw it up
  • #983,037
  • Apr 21, 2015 1:43am Apr 21, 2015 1:43am
Quoting fxtyrant
.... regarding risk management. you have a bowl of soup, the taste is a bit plain, you add salt... you add 1 teaspoon at a time. instead of the whole flask of salt.... because you'll ruin the soup if you put too much... but you are most likely not gona ruin the soup if you add gradually.... so goes the trading size.... add the trading size gradually instead of going bombsaway and you might just avoid ruining your account.
We have different trading styles (I mostly do scalps), but that's one tactic I've changed over the past few weeks, and I feel better about it. I mean my intent is still to have a trade size of say 4X, but now instead of opening that 4X all at once, I've started doing 2X or even 1X, and then adding. The reason I say I feel better doing it that way is because now there's far less stress. Before, opening it all at once, I'd start getting real concerned real quick if it started moving against me. And at some point I might HAVE to close at least part of it at a loss, or else my equity would start to get into trouble (my account is still really small compared to many here). But now if that happens, and I'm only at 1X, I can just ignore it and let if eventually come back. Of course I might be better off NOT letting it go, and just closing it... but now I don't HAVE to.
  • #983,038
  • Apr 21, 2015 1:43am Apr 21, 2015 1:43am
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  • #983,039
  • Apr 21, 2015 1:53am Apr 21, 2015 1:53am
Levels for now:
650-680-710-740 -+ 5p
  • #983,040
  • Apr 21, 2015 1:54am Apr 21, 2015 1:54am
Perhaps we should see pumping towards ZEW.
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