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12/14....Time to start up the $$$$$ machine

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Veteran
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Joined: Aug, 2007
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Posted: #51
making some nice pips on the eur/usd... going short when it hit up in the 1.3950's then getting out for 10-15pips....then repeat
 
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Joined: Aug, 2007
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Posted: #52
110 total pips probably done for the day... i might go short one more time if it comes back up to 1.3900 in next 30min... otherwise ill take my pips
 
Captain
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Joined: Oct, 2005
Posts: 8951
Posted: #53
I wanted to short EUR/GBP but couldnt pull the trigger lastnight......EUR/USD dropped and it didnt budge.....wake up this am and it was good for 80+pips
 
Havent even opened forex just got home.......gonna wait until Sunday
 
 
Nice job today POP.......wheres Wall he bail on us or what????
 
Covers Linesmen
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Joined: Feb, 2003
Posts: 56849
Posted: #54
Quote Originally Posted by bucknuts:

I wanted to short EUR/GBP but couldnt pull the trigger lastnight......EUR/USD dropped and it didnt budge.....wake up this am and it was good for 80+pips
 
Havent even opened forex just got home.......gonna wait until Sunday
 
 
Nice job today POP.......wheres Wall he bail on us or what????


Nope..

I dug my hole on this CHF trade and I am going to wait it out..it has improved quite a bit today, but I wont be opening new positions until this thing works itself out.

Big lesson though..I need to use some sort of stops..even if it is a 20% or 25% stop, I gotta use something..
 
Captain
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Joined: Oct, 2005
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Posted: #55
Ive yet to learn that lesson Wall......its hard to just let go when you see something in the charts you like....i am getting better though i let CHF go after losing way to much.....but it dropped another 1000+ after i bailed
 
Its a hard thing to figure out but you just got let go of some positions.....few weeks back i got nailed on USD/CAD on its first run to 1.30....two days later it was 1.22!!!
 
The instructors [fxcm]pointed it out again last week and i mentioned it at about 1.2760 or so had i jumped in there i woulda stayed for the test of 1.30 again just because of the double top but that last loss on that pair was still to fresh and i stayed away.....it hit 1.30 again and was back down 1000 pips in just a few days
 
Ive also been tagged on two +DMI ADX crosses in the last few weeks......im no longer going to trade those unless the DMIs are in the upper 2/3 of the charts....last two were in the 30-50s with RSI in the 80-90s and both failed to drop...though one was in EUR/GBP and EURO has been on a relentless tear to say the least..
 
You will get it back Wall no doubt about it......
 
Captain
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Joined: Oct, 2005
Posts: 8951
Posted: #56
Hey guys....Thomas Long has a webinar up from yesterday........
 
He talks about a few pairs @ takes some questions.......also shows you how to get different time frames like the 4hr on FXCM charts.......check it out
 
Captain
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Joined: Oct, 2005
Posts: 8951
Posted: #57
 
i should add this is a chart i found in the trend line forum
 
 
Captain
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Joined: Oct, 2005
Posts: 8951
Posted: #58
sorry didnt allow me to post the chart!!!!!!?????
 
a chart showing a 4 wave move in EUR/USD.....move down should end in the low 1.35s b4 the next leg up to mid 1.50 levels
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