Buying long on GU. i believe it going up soon. tell me if i did it wrong.

lol yesterday it went up like mad already u missed it ><

EU, Not really any bull sign yet for me. Juz something like billy and dr2k3 said before, too many uncertainty in the market now. We dunno what those big country will do. In TA side, I wont taking any bull yet, for me, still back to consolidation mode.

EDIT:
A rising wedges?Wait for breakout lor me... Hehe

This post has been edited by mphpopular: Oct 14 2008, 03:12 PM


Attached thumbnail(s)

too bad i miss the bull. u trading 24 hours per day?

@mph.. sorry i mean bear flag..

Not really I guess. Coz before this, I short EU is based on the bump and run reversal pattern. But since the targeted profit for EU based on bump and run already achieved. So I didn't have any idea where the EU will heading jor. I only can wait the consolidation finish. Or the rising wedges to breakout
lor.

EDIT:
I opened a GJ long at 179.30. Adjusted SL to +1. Now waiting and see whether it manage to break today high and achieve a higher high, if tat occurs, then I juz jackpot hitto.

EDIT:
The volatility in GJ nowadays is really can make some one either very rich / super poor. Even a big account cant stand one swing by GJ nowadays, it is juz too scary.

EDIT:
Get stopped up at +1. Today open 2 position. 2 also get stopped out at +1.

This post has been edited by mphpopular: Oct 14 2008, 04:36 PM

my Long on EU is in a bad position.. holding -ve pips.. 45 .. been holding for over 3 hours..

Hello all, this is my first post here. Been reading up the thread, very interesting. Kelvin, i got stuck in that same position as well, too greedy to duck out when i had the chance .

Btw, im curious, do u guys scalp or swing? Considering how how vicious GJ is bouncing up n down it seems like the most likely strategy? I dont dare go anywhere besides EU, waaay to volatile for my taste

yea.. i got in too early... was supposed to wait but i was too anxious... lesson learned the hard way.. but now my pips are positive already.. anyway EU is volatile also on days =) .. i personally never touch GJ as it is wayy to volatile for me.. i usually trade on EU GU and EJ.. i do both scalping and swinging.. i used to scalp but scalping turned out to be quite risky in these markets as a sudden volatile movement will cancel out ur chances of scalping

Guess you're in big +ve now from EU. IF we break 1.3780, then we might go higher and higher value jor...

EDIT:
I wish to see 1.4000 by tonight. Dunno whether having chances or not...

EDIT:
That's the reason I hate myself. Juz now I trade GJ in both demo and real, real trade, closed at +1. But in demo, still holding and now with +80pips.
We always get lesson and telling us, protect our capital, protect our capital. But too protect it causing us not winning any bucks... So sad.. LOL....

This post has been edited by mphpopular: Oct 14 2008, 06:54 PM

u want to lose capital or protect capital.....there is nothing wrong with ur strategy if u want to protect capital....there still alot of opportunities on forex market

I like that.

EU Hourly chart rising wedges broken. Wish for 1.3780 doesn't hold then we shall go top further.

This post has been edited by mphpopular: Oct 14 2008, 07:05 PM


Attached thumbnail(s)

heh.. not that big la.. +55 pips lo.. 1.3780 is going to be VERY VERY tough to break through if its based on TA .. notice in ur chart taht its a resistance line.. also.. daily pivot R1 is there..

---

Added on October 14, 2008, 7:32 pmanyway i feel like holding this long for long term.. 2388 units.. everyday if it really is back uptrend.. 100 pips a day would be sufficient to make me a happy man.. lol

---

Added on October 14, 2008, 7:34 pmpretty much everything is reversing already.. uptrend all the way ^^

---

Added on October 14, 2008, 7:53 pmclosed 500 units for EU at +60 pips... 1888 units still running..

---

Added on October 14, 2008, 7:57 pmSL set at +55 pips for the remaining 1888 pips.. dont wanna lose it..

---

Added on October 14, 2008, 8:47 pmwonder if the bull on EU ended already or not.. long EU additional 1k units and SL set to +1 already..

---

Added on October 14, 2008, 8:48 pmstopped out..

---

Added on October 14, 2008, 8:52 pmall position closed on EU

This post has been edited by kelvin_tan: Oct 14 2008, 08:52 PM

arghh. my balance + pips = - pips. all the profit i lose back. back to the deposit. need use back demo. and learn 1st.

heh not bad.. i came back and a further +40 pips.. should have come back slightly earlier.. would have been +70 and i would have sold it

---

Added on October 14, 2008, 11:59 pmsurprisingly pivot is extremely accurate today.. i place my buy n sell on pivots and thats the min/max points.. very very nice today ^^

This post has been edited by kelvin_tan: Oct 14 2008, 11:59 PM

I've been wondering, aside from pivots, what other means do u use to determine Exit points out of a trade?

My entries are improving a little bit but my exits are quite lousy as I almost always never have a definite strategy for it. After viewing MPH's S/R lines it got me thinking, r those feasible exit points?

pleasuresaurus.. i exit when i feel like i want to exit.. once my pips is +20 or so.. i set SL to +1.. from then on each time it goes higher i just set my stop loss to get more pips..

---

Added on October 15, 2008, 10:57 amback to shorting EU.. oil dropped like mad..

---

Added on October 15, 2008, 10:57 amshort EU at 1.35582

This post has been edited by kelvin_tan: Oct 15 2008, 10:57 AM

Just wonder, are u guys a full time forex trader?

no ..i'm an engineer ..but still forex is my 1st priority

EU H & S formation posible? I duno.


Attached thumbnail(s)