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 FOREX | v se7en, the market is very SucKy

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jack2
post May 5 2010, 08:44 AM

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QUOTE(Raymondetc @ May 4 2010, 05:22 PM)
Ha ha , Yes, i sure did, as with new and non-decipline trader (me  smile.gif , i keep changing the SL, hopping (now this is a bad move) that it'll reverse. Anyway, lesson learned.

Today sold GBPUSD too early @ 1,5243 6.30 AM, then took a draw down till 1.5264 (9.30 am & 1.30pm), finally it went down and i cutoff too early @ 1.5239 about 2.30 as i need to go away for a while. I just took a very small profit (was prepare to have a small lost) as i was thinking that i could be in the wrong trend today.

Should had rode on till 1.5168 (5.50 pm), that would had made a handsome 72 pips.  mad.gif  Anyway, this is Forex  biggrin.gif . A profit (even though small) is better than a lost.

Shall trade again tomorrow...
i`m interested to find a fund manager.mayb can get some experience...


All Newbies, just jump on in (with Demos Acc). You've nothing to loose!
*


wonder why some ppl don't know how to quote... doh.gif

This post has been edited by jack2: May 5 2010, 08:45 AM
Quinn
post May 5 2010, 09:07 AM

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QUOTE(allancth @ May 5 2010, 05:52 AM)
EUR/USD below 1.3000. Whoa! Long now?
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Stay out. 1.2782 is the next place to watch out for turning point. You don't need to trade everyday. You only trade high probability winning trades. cool2.gif
SUSRaymondetc
post May 5 2010, 12:16 PM

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QUOTE(jack2 @ May 5 2010, 09:44 AM)
wonder why some ppl don't know how to quote...  doh.gif
*
Hi Jack, sorry lah, newbies mah. So what / how is the correct format to quote. Teach me please. Am willing to learn biggrin.gif
luqmanz
post May 5 2010, 02:27 PM

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QUOTE(luqmanz @ May 5 2010, 08:15 AM)
Last night Cable tanked down to 1.5100 .... tongue.gif

I'm long on Cable now (Long @ 1.5150) .... and Tokyo is still on holiday. I'm gonna buy a small position at 1.5150.

Just to share a little bit of my thoughts ...

I usually take 4% risk per trade. But this morning, Tokyo is not open. It's kinda risky so I took only 2% risk trade this morning.

Why?
I believe the retail traders are still crazy about shorting (thus jeopardizing my long position) while the smart-money (big players) are not working this morning.

Retail traders are not big enough to move market, but since the volume is thin (due to the absence of the big players), market may move.

To take or not take the long position?
The rules are telling me to go long.  I'm a trader and taking risk is my job, hence the 2% position I have just taken.
Hope this helps for new traders.
*
Cable moved up a bit ... but still too early to tell if this is a good trade. LOL ... sweat.gif sweat.gif

rachel9966
post May 5 2010, 03:37 PM

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QUOTE(luqmanz @ May 5 2010, 02:27 PM)
Cable moved up a bit ... but still too early to tell if this is a good trade. LOL ...  sweat.gif  sweat.gif
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How to know if it is a good or bad trade?
luqmanz
post May 5 2010, 04:07 PM

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QUOTE(rachel9966 @ May 5 2010, 03:37 PM)
How to know if it is a good or bad trade?
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If the markets allows me to trail my stops (thus reducing my risks) according to my rule, then its already a good trade, even though its not yet profitable. smile.gif

Added on May 5, 2010, 4:08 pmWhat pairs are you watching rachel ?

This post has been edited by luqmanz: May 5 2010, 04:08 PM
cmk96
post May 5 2010, 04:37 PM

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QUOTE(luqmanz @ May 5 2010, 04:07 PM)
If the markets allows me to trail my stops (thus reducing my risks) according to my rule, then its already a good trade, even though its not yet profitable.  smile.gif

Added on May 5, 2010, 4:08 pmWhat pairs are you watching rachel ?
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G/J is moving... smile.gif Luqmanz... are you a day trader? .....Rachel, what pair u trading?

This post has been edited by cmk96: May 5 2010, 04:42 PM
luqmanz
post May 5 2010, 04:57 PM

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QUOTE(cmk96 @ May 5 2010, 04:37 PM)
G/J is moving... smile.gif  Luqmanz... are you a day trader? .....Rachel, what pair u trading?
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I'm not a daytrader ... I hold position for 2-4 days ... it depends. smile.gif
r1v3r
post May 5 2010, 07:40 PM

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hi I just started this "computer game" for 10 days. I hope some experience member can help me on this.

I am making profit on EUR/USD. I closed 3 lot at 1.2940 thinking that should be the turning point but it dives again, I still hold another 17 lots.

In your opinion, where is the next possible point to close all lots.
Volatile369
post May 5 2010, 08:15 PM

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looks like this week day traders had a hard time to pinpoint entry.. not very stable don u think?

This post has been edited by Volatile369: May 5 2010, 08:15 PM
billytong
post May 5 2010, 08:18 PM

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QUOTE(Volatile369 @ May 5 2010, 08:15 PM)
looks like this week day traders had a hard time to pinpoint entry.. not very stable don u think?
*

not exactly hard at least for EU, just short every rises, the next min, ur position turned black. tongue.gif

had made a killing on all these fall. totally like it smile.gif

This post has been edited by billytong: May 5 2010, 08:28 PM
allancth
post May 5 2010, 08:57 PM

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It's going down again. I hope I didn't jinx this.
TSInvince_Z
post May 5 2010, 09:24 PM

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what did any of u think if conservative win?

This post has been edited by Invince_Z: May 5 2010, 09:25 PM
luqmanz
post May 5 2010, 10:43 PM

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My long Cable position got burned. There goes my 2% ... LOL
Next step ... going to look for another long entry ...
Waiting for appropriate price action.
forexjr
post May 6 2010, 12:34 AM

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sifus... will the trend remain down for this whole week... i am confuse... got burned...
billytong
post May 6 2010, 08:30 AM

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QUOTE(forexjr @ May 6 2010, 12:34 AM)
sifus... will the trend remain down for this whole week... i am confuse... got burned...
*

Just trade with what your own eyes see. Do not try to predict. As far as what I see now, trend is still down for EU. If you want to long, only long when EU makes the lowest point and only when it stop there. Otherwise short. Makes sure all ur trades comes with tight stops loss @ appropriate levels.

luqmanz
post May 6 2010, 09:06 AM

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QUOTE(Invince_Z @ May 5 2010, 09:24 PM)
what did any of u think if conservative win?
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Dont really understand your Q ... can u rephrase ?
allancth
post May 6 2010, 09:09 AM

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UK election
SUSRaymondetc
post May 6 2010, 09:36 AM

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QUOTE(allancth @ May 6 2010, 10:09 AM)
UK election
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GBPUSD bottoming? But no volume....What you guys think?
luqmanz
post May 6 2010, 09:58 AM

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QUOTE(Raymondetc @ May 6 2010, 09:36 AM)
GBPUSD bottoming? But no volume....What you guys think?
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I have no reliable volume information. biggrin.gif

What is your game plan ?
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