EURUSD | Page 49644 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD, GBP/USD, USD/CHF

Similar Threads

MT4: how to change "EURUSD" to "#EURUSD"? 3 replies

Re: EurUsd short term 15 replies

did oanda just drop its spread for eurusd to 1 pip? 11 replies

EA for multiple lot limit order for EURUSD 0 replies

NFP nice bump up on EURUSD 2 replies

Attachments: EURUSD
Exit Attachments

EURUSD

  • #992,861
  • May 25, 2015 12:43am May 25, 2015 12:43am
Quoting Ratmach
{quote} I agree with you... I think this still has a long way to go (down). But when you mention holding a position for a long time (as many others do), when I do that I feel "stuck". I mean admittedly the few long-term trades I've had like that were negative, so that was no fun. But even if it was positive... because what I mean by "stuck" is that while I'm in a trade going one direction, I CAN'T open short-term trades on short-term retraces in an attempt to catch a little profit going the other way. That's the main reason I like to scalp. I rarely...
Open two accounts, use one to trade longer term and the other to scalp.

Two accounts, two different strategies.
  • #992,862
  • May 25, 2015 12:43am May 25, 2015 12:43am
Quoting Ratmach
{quote} I agree with you... I think this still has a long way to go (down). But when you mention holding a position for a long time (as many others do), when I do that I feel "stuck". I mean admittedly the few long-term trades I've had like that were negative, so that was no fun. But even if it was positive... because what I mean by "stuck" is that while I'm in a trade going one direction, I CAN'T open short-term trades on short-term retraces in an attempt to catch a little profit going the other way. That's the main reason I like to scalp. I rarely...
I think the problem lies with your broker on FIFO policy. It's quite similar to one of my broker. That's why it's good to have few accounts in few brokers to enable you to trade both directions, or you can create multiple sub accounts to trade different directions. Any way that's how I do it. You can give it a try.

As for trading wise, I understand that the multiple short trades you took, it will be more pips earned than just trading just one direction, but provided you need to catch the swing correctly.
The only winner is the one who survive the longest...
  • #992,863
  • May 25, 2015 12:49am May 25, 2015 12:49am
Quoting scottik187
{quote} I scalp for "income" as well as trade longer term, there's a couple of way of going about this. For scalping, I set myself a hard stop and TP, and let it hit either of them. I never let a loss run. Sure, it may hurt to take those pips as a loss, but doesn't the DD that you're in hurt more? Just pre-define your risk. I also tend to only take scalps with the main trend, counter trend is difficult. e.g. only taking euro short scalps right now. hope this helps.
Yeah, I learned the hard way that scalping against a trend is... umm... HARD, to say the least.

And this... "Sure, it may hurt to take those pips as a loss, but doesn't the DD that you're in hurt more?" Yep, and I'm starting to realize that the pain of losing a few pips to a S/L is nothing compared to hanging onto that trade way too long. And even then, it's not really even the thought of all those negative pips building up that bothers me. What really gets to me is the loss of TIME and OPPORTUNITY that happens when I'm "stuck" in a trade. Afterwards, I always think to myself that had I got out quickly with a small loss, I could have then (with the right opportunity) jumped right back in going the other way... or whatever.

So yeah, you're right.
  • #992,864
  • May 25, 2015 12:51am May 25, 2015 12:51am
Quoting Ratmach
{quote} I agree with you... I think this still has a long way to go (down). But when you mention holding a position for a long time (as many others do), when I do that I feel "stuck". I mean admittedly the few long-term trades I've had like that were negative, so that was no fun. But even if it was positive... because what I mean by "stuck" is that while I'm in a trade going one direction, I CAN'T open short-term trades on short-term retraces in an attempt to catch a little profit going the other way. That's the main reason I like to scalp. I rarely...
You are not alone, feeling like this
  • #992,865
  • May 25, 2015 12:52am May 25, 2015 12:52am
Quoting scottik187
{quote} Open two accounts, use one to trade longer term and the other to scalp. Two accounts, two different strategies.
Hmm... I never even considered that. I've seen others talk about having multiple accounts, but I never bothered to wonder WHY they do. Hmm...
  • #992,866
  • May 25, 2015 12:54am May 25, 2015 12:54am
Quoting kinspk
{quote} I think the problem lies with your broker on FIFO policy. It's quite similar to one of my broker. That's why it's good to have few accounts in few brokers to enable you to trade both directions, or you can create multiple sub accounts to trade different directions. Any way that's how I do it. You can give it a try. As for trading wise, I understand that the multiple short trades you took, it will be more pips earned than just trading just one direction, but provided you need to catch the swing correctly.
Yep, FIFO, no "hedging", 50:1 max, etc. In other words... I live in the U.S.
  • #992,867
  • May 25, 2015 12:56am May 25, 2015 12:56am
Quoting verified
{quote} You are not alone, feeling like this
Ah... good (misery loves company)
  • #992,868
  • May 25, 2015 12:57am May 25, 2015 12:57am
Quoting Ratmach
{quote} Yeah, I learned the hard way that scalping against a trend is... umm... HARD, to say the least. And this... "Sure, it may hurt to take those pips as a loss, but doesn't the DD that you're in hurt more?" Yep, and I'm starting to realize that the pain of losing a few pips to a S/L is nothing compared to hanging onto that trade way too long. And even then, it's not really even the thought of all those negative pips building up that bothers me. What really gets to me is the loss of TIME and OPPORTUNITY that happens when I'm "stuck" in a trade....
The amount of times I've seen capable trader friends of mine make 15-20 good trades in a row only to see them disappear because they let a loss run is too many to count. Just define the risk, stick to a method/strategy, and wait for it to come to you.
  • #992,869
  • May 25, 2015 12:58am May 25, 2015 12:58am
Quoting scottik187
{quote} The amount of times I've seen capable trader friends of mine make 15-20 good trades in a row only to see them disappear because they let a loss run is too many to count. Just define the risk, stick to a method/strategy, and wait for it to come to you.
  • #992,870
  • May 25, 2015 12:59am May 25, 2015 12:59am
Quoting Ratmach
{quote} Hmm... I never even considered that. I've seen others talk about having multiple accounts, but I never bothered to wonder WHY they do. Hmm...
It's good to get around FIFO, but it's also a good way to improve your discipline and strategies. Anyways, this is kinda off the EU topic, PM me if you wanna chat more.
  • #992,871
  • May 25, 2015 1:01am May 25, 2015 1:01am
Quoting scottik187
{quote} It's good to get around FIFO, but it's also a good way to improve your discipline and strategies. Anyways, this is kinda off the EU topic, PM me if you wanna chat more.
Yeah, kinda off-topic... thanks for your help (and I may PM you sometime).
  • #992,872
  • May 25, 2015 1:03am May 25, 2015 1:03am
Quoting Ratmach
{quote} Yep, FIFO, no "hedging", 50:1 max, etc. In other words... I live in the U.S.
as of today these limitations depend on your broker only, no more where you live - FYI.
  • #992,873
  • May 25, 2015 1:08am May 25, 2015 1:08am
Quoting gatorinla
{quote} based on what remains of 0786. 1140 popped up.. i dont know or base trades on a 1140 bounce because its early. and trades often have moves starting looking correct and fail. throw 0964 in the mix as a future pp in st and it has this finger print. just like the 0964 finger print before we got to it and the 0786 one before getting to it.. 1140 is a tiny scale and i would prefer 1214 if this 0964 low held.. some R at those same 1126/1205 and the larger 1208/09 expected. closes are what counts mostly on these so 1214 is not a big deal and still...
Hi Gagorinla
what does mean "pp" and "st" in this sentence "throw 0964 in the mix as a future pp in st and it has this finger print" ?
Thanks
  • #992,874
  • May 25, 2015 1:17am May 25, 2015 1:17am
Quoting shellsnail
There was someone who posted last weekend (8 days ago or something) about buying euro once it gets to 1.08-- something. I can't seem to find the post because he/she deleted it. I remember thinking that one made the most sense.
1.08 is demand, not to say this daily support here will not hold as this level bounced it down on 4 daily hits
  • #992,875
  • May 25, 2015 1:31am May 25, 2015 1:31am
Quoting verified
{quote} as of today these limitations depend on your broker only, no more where you live - FYI.
You miss the point that no broker outside the US will accept US clients. And US brokers are not allowed to give leverage bigger than 1:50 and disallow hedging. Hence he has NO choice at all - at least not with regulated brokers. Sure some Russian brokers do accept US clients, but who wants to trade with those? Apart from this, the US has done EVERYTHING and sued heaps of brokers outside the US until the point that every other broker in regulated countries has stopped accepting US clients. So no, for him its not a broker dependent limitation, but a limitation the great "country of the free" where you "can do everything you want" (if you donīt mind the NSA knowing everything you do) imposed on him
  • #992,876
  • May 25, 2015 1:40am May 25, 2015 1:40am
Quoting scottik187
{quote} It's good to get around FIFO, but it's also a good way to improve your discipline and strategies. Anyways, this is kinda off the EU topic, PM me if you wanna chat more.
This is very true, seen quite a number of people use hedging account to hold on to losses, as they hedge to protect their trades. It's just a matter of time it start trending and they lose on trades, commissions, swaps, etc. Hedging account take longer time than those FIFO to blow, but it's good to build up good trading habits and strategies using FIFO low leverage accounts.
The only winner is the one who survive the longest...
  • #992,877
  • May 25, 2015 1:43am May 25, 2015 1:43am
Quoting geektrader
So no, for him its not a broker dependent limitation, but a limitation the great "country of the free" where you "can do everything you want" (if you dont mind the NSA knowing everything you do) imposed on him
  • #992,878
  • May 25, 2015 1:44am May 25, 2015 1:44am
Quoting geektrader
{quote} You miss the point that no broker outside the US will accept US clients. And US brokers are not allowed to give leverage bigger than 1:50 and disallow hedging. Hence he has NO choice at all - at least not with regulated brokers. Sure some Russian brokers do accept US clients, but who wants to trade with those? Apart from this, the US has done EVERYTHING and sued heaps of brokers outside the US until the point that every other broker in regulated countries has stopped accepting US clients. So no, for him its not a broker dependent limitation,...
You are right and I was wrong. For some reason I thought my broker will accept US citizens. I contacted the helpdesk and got the answer. No way for US citizens ( well, they said it different ). Sorry for confusion.
  • #992,879
  • May 25, 2015 1:45am May 25, 2015 1:45am
Quoting verified
{quote} You are right and I was wrong. For some reason I thought my broker will accept US citizens. I contacted the helpdesk and got the answer. No way for US citizens ( well, they said it different ). Sorry for confusion.
  • #992,880
  • May 25, 2015 3:06am May 25, 2015 3:06am
one thing you can be sure of in fx.. the price will more than 50% of the time follow on the same direction as the heiken ashi colour of the previous day
241 traders viewing now