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  • #1,072,401
  • Jul 19, 2016 9:42am Jul 19, 2016 9:42am
Quoting OnlineAddict
If this was short-term double bottom, I would move my target to 1150. And then see if it gets broken to the upside. Curious about the daily close.

I am sorry.. Could you point out the first bottom for me.. I don't seem to follow!
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #1,072,402
  • Jul 19, 2016 9:44am Jul 19, 2016 9:44am
Quoting baherhosni
{quote} I am sorry.. Could you point out the first bottom for me.. I don't seem to follow!
Same? 1000. Seems to be strong. ECB might break it, but if that was the case, Draghi would spike the price up first.
Everyone can see the chart, but only a few can actually read it.
  • #1,072,403
  • Jul 19, 2016 9:47am Jul 19, 2016 9:47am
Quoting baherhosni
Tomorrow is a BAD day!!
Why?
  • #1,072,404
  • Jul 19, 2016 9:48am Jul 19, 2016 9:48am
Quoting OnlineAddict
{quote} Same? 1000. Seems to be strong. ECB might break it, but if that was the case, Draghi would spike the price up first.
Yeah, I am counting on that pull up for some pips and for a higher sell stop if ECB finally destroys the Euro lol
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #1,072,405
  • Jul 19, 2016 9:49am Jul 19, 2016 9:49am
Quoting 3Davy
{quote} Why?
The news will be confusing especially in this area and coming from the strong bear bias from last week..
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #1,072,406
  • Jul 19, 2016 9:53am Jul 19, 2016 9:53am
Quoting baherhosni
{quote} The news will be confusing especially in this area and coming from the strong bear bias from last week..
There are no significant euro news tomorrow, but I am sure some "fake" news will come, posted by zerohedge or forexlive, to create some pre-ECB spikes, which will give us a clue what will happen on thursday(mostly the opposite of where those "fake" news move the price).
Everyone can see the chart, but only a few can actually read it.
  • #1,072,407
  • Jul 19, 2016 9:53am Jul 19, 2016 9:53am
Quoting baherhosni
{quote} The news will be confusing especially in this area and coming from the strong bear bias from last week..
What do you expect tomorrow.

I have some longs and shorts open.
  • #1,072,408
  • Jul 19, 2016 9:57am Jul 19, 2016 9:57am
I also need to follow this guy closely..
Attached Image (click to enlarge)
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I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #1,072,409
  • Jul 19, 2016 9:58am Jul 19, 2016 9:58am
Quoting 3Davy
{quote} What do you expect tomorrow. I have some longs and shorts open.

Whats the ratio of longs to shorts?
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #1,072,410
  • Jul 19, 2016 10:02am Jul 19, 2016 10:02am
Quoting baherhosni
{quote} Whats the ratio of longs to shorts?
Retail is short...
Everyone can see the chart, but only a few can actually read it.
  • #1,072,411
  • Jul 19, 2016 10:04am Jul 19, 2016 10:04am
Quoting OnlineAddict
{quote} There are no significant euro news tomorrow, but I am sure some "fake" news will come, posted by zerohedge or forexlive, to create some pre-ECB spikes, which will give us a clue what will happen on thursday(mostly the opposite of where those "fake" news move the price).
lol.. But USD news counts you know..
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #1,072,412
  • Jul 19, 2016 10:07am Jul 19, 2016 10:07am
Quoting baherhosni
{quote} lol.. But USD news counts you know..
Crude oil is not as important as FF makes it look with their colors.
Everyone can see the chart, but only a few can actually read it.
  • #1,072,413
  • Jul 19, 2016 10:08am Jul 19, 2016 10:08am
Sold earlier, profit target reached.
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  • #1,072,414
  • Jul 19, 2016 10:29am Jul 19, 2016 10:29am
Quoting baherhosni
{quote} Whats the ratio of longs to shorts?
I had a long at 1.1080

Now a short at 1.1030.

Only small leverage.

I don't understand that some guys become a miljonair with trading.
  • #1,072,415
  • Jul 19, 2016 10:30am Jul 19, 2016 10:30am
Quoting baherhosni
{quote} Whats the ratio of longs to shorts?
I'm about 10 to 1 long more tomorrow..... Oanda shows 47 longs versus 53
Beware of robber banks (RB), bad advisors.
  • #1,072,416
  • Jul 19, 2016 11:00am Jul 19, 2016 11:00am
Quoting 3Davy
{quote} I had a long at 1.1080 Now a short at 1.1030. Only small leverage. I don't understand that some guys become a miljonair with trading.
same lot size on both sides?
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #1,072,417
  • Jul 19, 2016 11:33am Jul 19, 2016 11:33am
Quoting baherhosni
{quote} same lot size on both sides?
Yes.

Last weeks everything is against me,and when I sell,its to early.
  • #1,072,418
  • Jul 19, 2016 11:58am Jul 19, 2016 11:58am
Quoting 3Davy
{quote} Yes. Last weeks everything is against me,and when I sell,its to early.

So, as you may know, what you are currently practicing is hedging. When you hedge a position using the same size you are basically locking your loss until further notice.. However, and I know Tudor and the hedge masters here will like what I am about to say, if you feel there is enough momentum and distance in pips until the following major support/resistance (depending on the type of your position), then you can use this distance to turn your losing trade into a wining "basket of positions". You do that by calculating what lot size in the reverse direction and for how many pips you can BE, or even gain something from the market.

This needs practice and losses and clear mind to perform and I know the majority of traders don't like this since you can really do your account major damage if you get caught in a range or multiple reversals.. you can PM me if you need more information about this so that we don't bother the rest of the fine traders on this thread.

In your case, you will have to let go of this loss or make up your mind on the direction you see the market is going in and add more to that direction. there is a major support area right under us now, so you can add longs there and close your short once you are comfortable with the rebound upwards (you can leave it with an SL at BE), or put a Sell stop with relatively high leverage to be able to make up the loss you are holding by the hedge as we move south (I don't see you doing this if you have not done it before unless you are welling to try it under your own responsibility since the market can really play games with you and reverse all the time and you will end up trying to catch it with more and more leverage ).

Honestly speaking it is kind of tricky to make one's mind at this point since we are already at bottom end of the amazing range smack in the middle of the demand area with bad EUR news and good USD news keep coming in which make you feel you're torn apart by conflicting sentiment.
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #1,072,419
  • Jul 19, 2016 12:19pm Jul 19, 2016 12:19pm
Quoting baherhosni
{quote} So, as you may know, what you are currently practicing is hedging. When you hedge a position using the same size you are basically locking your loss until further notice... you can really do your account major damage if you get caught in a range or multiple reversals...In your case, you will have to let go of this loss or make up your mind on the direction you see the market is going in and add more to that direction... Honestly speaking it is kind of tricky to make one's mind at this point since we are already at bottom end of the amazing...
Good advise mate. Let me add that the difficulty/refusal to take losses when they come - and thus reduce damage to our trading account - is what we all need to overcome. That is a key issue here imho.

KPl
Do your homework, follow the footprints of smart money
  • #1,072,420
  • Jul 19, 2016 12:36pm Jul 19, 2016 12:36pm
Quoting KeenPips
{quote} Good advise mate. Let me add that the difficulty/refusal to take losses when they come - and thus reduce damage to our trading account - is what we all need to overcome. That is a key issue here imho. KPl

Yup.. I know it too well.. when I have to loose it really breaks my heart LOL
But it is easier to loose small than to loos big.. And small and big it really relative and different from one trader to another..
A trader once told me that it is not really a %, rather ask yourself what you spend everyday on average and that is going to be the risk you can willingly take without regret on a day's trading.4
I still need a trading break soon!!! "Loose some to win more" --Baher A.
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