May forex

Question

Well ill be around today but will be gone for the next two weeks...going out of town for work then off to Vegas

bucknuts · Answer

Well ill be around today but will be gone for the next two weeks...going out of town for work then off to Vegas

wallstreetcappers · Answer

Using Forex profits to go on vacation is pretty awesome!

sjewell29 · Answer

This has been the longest I&#x27;ve heald a trade, but this fuckin&#x27; EUR/USD is pissin&#x27; me off. Already down 60 pips today. I know you guys have been in longer, and have more money involved, but it just sucks....... I hope once the son-of-a-bitch comes down, it just keeps going..and going....

wallstreetcappers · Answer

5 top here technically speaking right here.

Next resistance is 200 pips away, and the next is 400 plus more.

The +DI is low, RSI not so much. I think it goes higher, not for your sake but the chart and technicals dont look overbought.

sjewell29 · Answer

wall, I know it&#x27;s a personal opinion, but when do you take your lumps and bail.... I&#x27;m down 200 already, do I let it go another 600?

rick3117 · Answer

its all about risk reward in my opinion jewel,

before you enter a trade you should know how much you want to gain, and are willing to lose

set a limit and a stop, and adjust them accordingly.

i usually set my stops for a loss of no more than 50-75 pips
and my limits for 100 to 200

i am an intraday trader though and have never held a position more than 2 days, but i monitor my trades all day long on my blackberry.

good money managment for me means (example): setting my stops for 40 pips and my limits for 160
i only have to win one trade break even, if you go 50% you turn a nice profit.

wallstreetcappers · Answer

Well it depends on the roll..so if one trade equals 40% of your "roll" then yeah you gotta cut it short FAST, but say this is a 10% of your capital position and you feel OK adding, Ive RARELY gotten into a position that I didnt need to add a lot to.

Stops are very important like rick is mentioning, but on the flip side, this market chews up stops and spits them out.

I think the USD has been in the crapper a while, it is like second worst I see, the only worse is the Yen.

I think it turns for you, the USD turns and FAST, but if you are down 200 you have to decide if the time demand and money demand is worth it.

I personally wouldnt let go of the trade, in the months Ive traded Ive been down HUGE on some, but none were a monster early in relation to the overall size of my account.

When I fund (probably this week if FXDD gets me my acct info that I submitted on Friday) I will go with a MINI account, even though I can afford a FULL acct based on the deposit, for the reason only that having deep pockets is crucial to success.

Oh and I think the Euro is one of the weaker currencies, maybe number 5 but the USD is number 2 from what I observe.

I sure wish the technicals were more oversold..the 4 hr, daily and weekly arent overheated enough and that is being down 200 pips already.

The only fear I have is that the pair could turn into the CD.Yen pair where a breakout fries shorts and they run it another 200 and fast.

sjewell29 · Answer

Thanks rick. I&#x27;ve usually always stay close, like you do. This one though I finally decided to try to let it ride out, and not bail out after 10 pips. I, of course, picked the wrong time to do  it. I&#x27;m just so far in it now, I don&#x27;t know what to do. I&#x27;ll not do another one without a stop though. There&#x27;s just WAYYYYY more to this than I think I can handle. I&#x27;ve always been good with math and numbers, but I don&#x27;t know about this....

sjewell29 · Answer

Thanks wall... I appreciate all the input you guys give. Like I said, I "knew" this couldn&#x27;t be that easy, or everybody would be doing it. But you hit one, and make 20 pips in 2 minutes, it&#x27;s "easy". Then you let one ride, it turns to shit, and the fun is gone.....

1IRON · Answer

Guys&#xD;&#xA; &#xD;&#xA;  Got something I just dont understand.  On my 4 hr charts I see gaps from one block closing to the next one opening. Im not talking about over the weekend but thru the week. &#xD;&#xA;  I cant figure out how there can be a gap of 50 60 70 some pips when there is NO time between one block closing and the next is opening. Example is:  EUR/USD  4/28  close on 8am to 12pm block is 1.3061..........   Now the open on the next block starting at 12pm is 1.3121.....60 pips. I thought that there was no time between these two blocks. One closes and 1 sec later the next one opens. How can it move 60 pips in 1 sec ??&#xD;&#xA;  Its probably my dumb ass not reading the chart right. But can someone please explain this to me ????

wallstreetcappers · Answer

When you are seeing those sticks, it is better to look at a 1-5 minute chart and scroll back to the time period you are wondering about.

Man the Eu.USD is spiking strong here..looks like the Euro in general is spiking, up 100 pips versus most counter pairs.

It is tough to scroll back a week using a 1-5 minute chart, it would be best done with the markets closed, with my Meta4 chart it keeps popping forward.

wallstreetcappers · Answer

Got the FXDD approval, it took them long enough.Now I have to fund the acct and I will be active and live.

wallstreetcappers · Answer

Strong US market and a terrible USD against most everything.I have to think that there is value going long some USD and/or short the weaker counter US pairs..

wallstreetcappers · Answer

Now that my acct is live I actually get to see news, here is one that I found interesting tonite-

The question is are we now in the second phase of positive investor sentiment, where the move becomes a general exit from the USD to riskier assets, rather than the cross move that we have seen to date, or is Golden Week changing the short term dynamics of the market. We tend to favour the latter explanation, but if the real money players decide that the time is right to commit funds, a significant USD move could be in the wings.

rick3117 · Answer

gbp/usd has a bearish engulfing pattern on the 4 hr charts.  comming down from over sold and dmi crosses are setting up.could be a reversal,   good run though

rick3117 · Answer

and here we go

rick3117 · Answer

correction the engulfing pattern was on the 1hr charts,  still setting up on the 4hrs.

1IRON · Answer

Wall&#xD;&#xA; &#xD;&#xA;   I knew something was screwed up yesterday on my charts with forex.com. Called them and they cant fix it. Buc looks at the same charts I do. I wonder if he is having the same problem. Do you or anyone else on here use forex.com charts V1.0 like Buc and myself ?&#xD;&#xA; &#xD;&#xA;  I want to get a forex chart service that I can rely on and be able to view these dmi lines and crosses   any suggestions ???  thx

wallstreetcappers · Answer

1Iron,Why not try a different firm for a demo acct and see if you like them?My first was with Forex, but I ended up signing up with FXDD.I liked Forex, FXCM and FXDD..all were good for charts.I am in the bank verify stage..then will deposit and on I go.

1IRON · Answer

Thanks Wall I will take a look at those other sites.

popinjay · Answer

whats up guys been too busy lately...&#xD;&#xA; &#xD;&#xA;1iron, i use forex.com, but i only use the charts for the dmi crosses... i have charts set up in a demo account with metatrader that i usually trade off of.  i like it because you can download custom indicators and customize the charts a lot.

sjewell29 · Answer

I ain&#x27;t out of the woods yet, and know anything can happen, but I sure glad to see this EYR/USD comin&#x27; down. Keep goin&#x27;..!!!!!

wallstreetcappers · Answer

Did you average up on the short?

sjewell29 · Answer

I wish I&#x27;d had wall... I&#x27;d be close to being out of this son-of-a-bitch. I played around a minute the other night, and picked up a few quick ones, but after "waiting" this one out, I was scared to try to wait this one out to go down.

May forex

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