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EUR/USD: IntraDay Scalping and Short Term Swing Trading Only

  • #1,161
  • Oct 22, 2015 8:41am Oct 22, 2015 8:41am
Quoting sakisf
Ok, this one is last wide sl 11 pips (55), tp 1210. {image}
Right now I'm too embarrassed to say where I've been holding from while we are discussing stops.

I keep asking myself, how wide is too wide? While I patiently wait for another PB. Let's just say if it breaks to 55. I've given everything back and more and am in minus pippage again after fighting back to plus pippage from a -50p day yesterday.
  • #1,162
  • Oct 22, 2015 8:45am Oct 22, 2015 8:45am
Quoting Pipologist
{quote} Right now I'm too embarrassed to say where I've been holding from while we are discussing stops. I keep asking myself, how wide is too wide? While I patiently wait for another PB. Let's just say if it breaks to 55. I've given everything back and more and am in minus pippage again after fighting back to plus pippage from a -50p day yesterday.
New rule, don't fight back a news item Just go with the flow. Did the same with dax just now, gave back yesterday's profits of sp.
  • #1,163
  • Oct 22, 2015 8:49am Oct 22, 2015 8:49am
This afternoon's ECB peg is at 1.1313. The market has to realize that fundamentally, EUROS are a bargain at this live price right now. START BUYING!
  • #1,164
  • Edited 9:03am Oct 22, 2015 8:49am | Edited 9:03am
Quoting sakisf
{quote} New rule, don't fight back a news item Just go with the flow. Did the same with dax just now, gave back yesterday's profits of sp.
New lessons everyday, so are new losses..

bought at 650, 15p SL annnnnd, it goes down..
price keeps getting stuck somewhere until i place an order and then quickly goes the other way..
if there's an EA to read market's mind and tell me before it executes, i'll buy it..

Edit: TP at 1.12250.. if it get hits, all my loss this week will be covered thrice..
again, i'm trading what i want and not what i see.. bad move.. so bad..
Dont trade like me..
  • #1,165
  • Oct 22, 2015 9:00am Oct 22, 2015 9:00am
Quoting sanvulture
{quote} New lessons everyday, so are new losses.. bought at 650, 15p SL annnnnd, it goes down.. price keeps getting stuck somewhere until i place an order and then quickly goes the other way.. if there's an EA to read market's mind and tell me before it executes, i'll buy it..
SL at 50 should have been good. I moved mine down from 55 to 50 thinking they are not going to breach 50 and it's holding for now. 50 is my breaking point for this trade. TP is at 1.1225. Original entry, somewhere below 00.
  • #1,166
  • Oct 22, 2015 9:07am Oct 22, 2015 9:07am
Quoting Pipologist
{quote} SL at 50 should have been good. I moved mine down from 55 to 50 thinking they are not going to breach 50 and it's holding for now. 50 is my breaking point for this trade. TP is at 1.1225. Original entry, somewhere below 00.
lol ur TP and SL are same as mine.. and u got reasons for it and i dont.. i had my SL at 55 too, but it was too close, so moved to 50.. if it hits, i need some time to get over it..
Dont trade like me..
  • #1,167
  • Edited 9:23am Oct 22, 2015 9:12am | Edited 9:23am
Quoting sanvulture
{quote} lol ur TP and SL are same as mine.. and u got reasons for it and i dont.. i had my SL at 55 too, but it was too close, so moved to 50.. if it hits, i need some time to get over it..
OK right now price needs to get above 65, it can not stay under 60 bid for a long time and under 54 bid is just about asta lavista, once we stay above 65, it nees to get above 75, for it to have a shot, at this point or anytime in between you should consider your options. But 65 is a critical support area.

OK at 75 now, needs to stay above 67 and IF we reach 90, over 1.12 is almost certain, maybe even to 1.1240

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM1.png Size: 72 KB
  • #1,168
  • Oct 22, 2015 9:23am Oct 22, 2015 9:23am
Quoting Pipologist
{quote} OK right now price needs to get above 65, it can not stay under 60 bid for a long time and under 54 bid is just about asta lavista, once we stay above 65, it nees to get above 75, for it to have a shot, at this point or anytime in between you should consider your options. But 65 is a critical support area. {image}
Thank you.. moved stop to 660 BE+1.. at least no more losing.. but i wonder if i should close my long or hope it runs up..

1.1240? oh no, dont make me greedy.. just 1.1225 is enough.. market can sense my TP movement and will kick my a$$ for it.. lol

Edit: SL to 700.. +5p.. risky, high chance to get it..

1180 being resistance, now? damn..
Dont trade like me..
  • #1,169
  • Oct 22, 2015 9:26am Oct 22, 2015 9:26am
Quoting sanvulture
{quote} Thank you.. moved stop to 660 BE+1.. at least no more losing.. but i wonder if i should close my long or hope it runs up..
If you can watch it, just watch it. Which would be more painful to you? Not closing the long now or not holding to TP? Do the less painful action.

emotionally, psychologically and financially.

it;s close to 80 now, we pop to 90 and there's going to be the beginning of short covering
  • #1,170
  • Oct 22, 2015 9:26am Oct 22, 2015 9:26am
When it reaches 1.130 ill be happy
  • #1,171
  • Oct 22, 2015 9:27am Oct 22, 2015 9:27am
Quoting KzX
{quote} No stop if it's well planned. In the past I wrote many times that usual max eu daily range is around 160p with some rare extensions to 200-210p. When the rally starts, just go to daily and see where it's gonna stop, search for strong R - it was around 1.1180. Just connect the dots quickly 160p + R = almost guaranteed pullback.
We like you algos


Anyway, full intra swing from bottom, closed half here.
  • #1,172
  • Oct 22, 2015 9:31am Oct 22, 2015 9:31am
Quoting KzX
{quote} We like you algos
Just retrace to above 1.12 trap some more longs and then extend the drop to 200p OK?
  • #1,173
  • Oct 22, 2015 9:33am Oct 22, 2015 9:33am
1.1350 - 200 = 1.1150
  • #1,174
  • Oct 22, 2015 9:33am Oct 22, 2015 9:33am
1.1150(49) is where nfp started. Don't believe they will breach it that easy, at least not today.
  • #1,175
  • Oct 22, 2015 9:36am Oct 22, 2015 9:36am
Quoting Pokerkid7174
When it reaches 1.130 ill be happy
The question was not what would make you happy. The question is which would be less painful. Minimize the pain, instead of trying to maximize the gain.

For me, ultimately not sticking with a thought out plan, even if it goes bad, is more painful than having it go bad, not including dumb ass mistakes.
  • #1,176
  • Oct 22, 2015 9:39am Oct 22, 2015 9:39am
Quoting Pipologist
{quote} The question was not what would make you happy. The question is which would be less painful. Minimize the pain, instead of trying to maximize the gain. For me, ultimately not sticking with a thought out plan, even if it goes bad, is more painful than having it go bad, not including dumb ass mistakes.
  • #1,177
  • Oct 22, 2015 9:41am Oct 22, 2015 9:41am
I didn't play the bottom very well, gave back 15 pips, but still up 24 on the day. I longed the 160 drop (read 1180 area) twice. What annoys me is I saw but didn't take the original drop! But, I'm still learning Kzx.
  • #1,178
  • Oct 22, 2015 9:42am Oct 22, 2015 9:42am
Quoting Pipologist
{quote} The question was not what would make you happy. The question is which would be less painful. Minimize the pain, instead of trying to maximize the gain. For me, ultimately not sticking with a thought out plan, even if it goes bad, is more painful than having it go bad, not including dumb ass mistakes.
OUCH.. u got me.. SL at 1700, TP at 2250.. scary to watch, gonna get some popcorn..
Edit: SL hit.. +5p
Dont trade like me..
  • #1,179
  • Oct 22, 2015 9:49am Oct 22, 2015 9:49am
You catch a full swing, secure your profit after it's reached, first was 180-210, second 155-185, especially when you're brave enough to take counter trades during such a strong rally.
  • #1,180
  • Oct 22, 2015 9:50am Oct 22, 2015 9:50am
OK, I took the long off and took a 22.8 hit like a man. And I reversed short at 72.4
we crossed under the last 30m mid and also the last 60m mid and last 30mins of low there's nothing to support it until 548
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