Thread: $ For The week of 10/23-With Some Trade Ideas

BK-your resistance numbers were useful. When it backed down to 50, I grabbed the initial pop and closed. It moved so I left a long order at 75, thinking that if it gets there, then the resistance numbers may be broken. . .hasn't gotten there as of 9.00 EDT but we'll see what happens.

Wow way has been 258 pips extended from 8733 took profits along the wayout today just under 9000. What a ride!!

Big time resistance TL in 9000 level...

[quote=NewstraderFX]You have ta treat trading just like a young quarterback treats a match. There is A young guyn't gonna go in the outset-Tom Brady might-but he's already won any superbowls for the bomb. How many have u won? If u can, Begin with two or three simple short moves. A clue stop Should you really feel as though you have not. Don't throw a pass . Hand off the ball. You'll notice that receiver 40 yards downfield from a shorter, slower shield. If you've already thrown two interceptions, not will not you see that guy, but you might be benched by the trainer!

How were your results from the previous week? Had some losers? On your next trade, if you have like 15 pips or so, reserve it. If you can Begin with a winner; get yourself into a groove. The worth of a couple of trades that are winning, even if it's just a few pips, builds your confidence. The bigger trades are inclined to come towards the end of the week anyway-if you've been watching the markets and the fundamentals, you are probably going to have a fantastic sense for things at that moment.

It's hard to be a John Elway as a trader; winning a match in the past two minutes takes an incredible quantity of talent and mental toughness. I will throw the bomb occasionally, but I will do it when I got ta kick a field goal to win a match and ditch it off.

We're at the NFL now. Everyone is big, fast, powerful and on any given Sunday...[/QUOTE Very wise counsel. The market bows to no 1!!

Is that a good time to the cable, expecting retracement on Monday?

Originally Posted by ;

Is THIS a good time to brief the cable, expecting retracement on Monday?

Personally, I still don't trade this way as it's totally unpredictable. I like to put my time into discovering things that I feel are somewhat more predictable.

You may have a feel for it, but you want to handle your account accordingly. Just how much a SL do u plan on accepting with a transaction like this?
Your SL, if hit, should do no longer then 10% worth of damage to ur account and 5% is really preferable. Example: you've 2500 in your account. You take a position with a 30 SL. You shouldn't trade more then 8 mini's (8x30=240) and rather trade 4 (4x30=120)

It's also a matter of which commerce session is ideal to trade this. Moves in this way tend to happen in the London session. Absent fundamentals, nothing much really happens in NY, but possibly very early in the session. NY traders don't disclose their moves when everybody's looking.

Let me know how it goes for you.

We reached 1.9000 for GBPUSD...

Present History dictates that this is very top heavy for GBP to maintain. A week, May fall and begin another USD Bull rally anew.

I personally would begin shorting GBPUSD by 1.9100 w/ 1 mini lot. It will hurt if it goes up instead..And when the tendency is really established, I would begin putting longer for the down ride.

Enough is Enough

Okay had a really good week including this morning's GDP. I've had enough. GonId shut off my computer, closed off the BB radio, go workout, walk my dog, have a nice steak later and F my GF until she can't take it no more. . .se ya lata

Originally Posted by ;

So it begs the question:

How much further can the Dollar sink? 50, 25, 100 pips? I just ask because I am really $ Long now on 4 pairs and also not sure if I need to cut the losers free. Cutting them free would cut about 45% of my mini account off, but I would still get it. If losers got worse, right, I, however, can also lose the remainder as the? I know nobody can predict where and when the market will move. I think this week demones that. I would hate to sell the losers then see the market do a 180, I am still learnning I would consider this a payment in my FX Degree, but a few obligations are hard to swallow. I thought I was ok this week, Guess not!!

Rusty

Just a Few questions.

What's your trading plan to start with? What was your departure program? Where did you place your stops? Have your stops transferred?

Among the BIGGEST mistakes people make is letting the losers run. . .to the purpose of trashing 45% of your account. Wow.

I would say. . .determine your tolerance amount here. . .you are way beyond thresholds of commerce adminiion. Put a plan and put stops in at a place that is precise and reasonable. . .somewhere concealed possibly. . .behind a point of service or resistence.

You may live and die together with your decision. It may reverse. However, you must save enough of your capital to trade.

And, just in my own opinion. . .Don't be pleased about a loss. . .you can learn from them. . .and that they are part of doing business. . .but I can't ever recall a loss that felt great.

Better missed opportunity than lost capital

All of the above is just to provoke thought. . .you should make your own conclusions. I hope it turns out well for you.

DC