£50/pip eur/usd 5k account.

Think he will be ok yet, this little ease back to 2440, look for a perhaps a retest hi attempt next hour or so , then I think it should head south towards 124 and test that evening / overnight .

So fingers crossed he might nick a few quid yet ...


The main concerned with the weakening of the trend is the retest I think, especially if one has jumped in on top a rocket, its not much fun sitting on it waiting for the fuel to fade off ! Sometimes they are contained within the hi, other times you can get a pop, hopefully it won't pop for him and his heart rate can ease of a bit !!
 
I really think this EONIA fix is going to be one to watch, it certainly is in fixed income, and it surely is gonna be important to EUR.
 
Right guys, i'm currently short 2420, stop 2495. I'll set a take profit 2395 and go long 2395 100:100.
 
OK I'm seeing sell into this next attempted leg up from here, for the leg down . Higher the better, let the skill of your timing guide you in , but anywhere near the high will do . :) 12460 ish at the mo.

Good luck .
 
OK looks like its given the run towards 12480 , sensible stop , and kick back for the next session 12-24 hours I'm thinking time wise to the short side.

good luck.
 
See the re test of the hi now , these are the zones that get me excited. Ohh cos I anticipate this beast trading down next.

Use a nice atr 2 stop on it, and crack a beer open.
 
Yeah 12495 stop is a coin flip, nice place for a punt for inter session traders though I think.

Holding so far !
 
RIP fella sorry to see,

it just wont come back this eur/usd i am short myself at 12500
 
These threads are good, because they're educational. These threads 'may' do more for new traders than the vast majority of threads on this board. And I can't say everyone has done this sort of thing, averaging down, risking far too high a % of the account etc, but I know that I did in the early days (not saying it is early days for you kimo-sabby, I imagine you knew this was a longshot).

Even at a 10 pip stop loss, this would have been an enormous challenge to keep it going for long. As for the 100 pip stop loss, or even 50 pip stop loss, you were risking basically 50%-100% on one trade.
 
Well it popped in the end. Lids on it for now I reckon , Hold shorts this AM still on my setup.

need that 12480 to go, then to see if its got legs to 12400, possible 12300.

NFP and thin holidays might make things lively, but my trend set-up says short pressure should be the side to be on !

So lets see if shorts deliver today .

ATR 2 is the disaster stop (mental if you can watch it or fixed if not) and that should be a sensible portion of the pot I think. This will give one a relaxed approach to inter session trading, used with some form of reliable trend weakening analysis.

Just my thoughts/approach.
 
BOOM! GAME OVER!

Ok guys, i think we all seen the major flaw in the journal right from the off. Risking 50% of your account on one trade is a big no-no, not only statistically, but psychologically it puts undue pressure on the individual trader which will lead to other problems.

What i normally do with my own trading affairs is give myself one trade a day. The reason for this is because of my main view, which are the eurdol daily ranges, i look for 'normal' ranging days. I would view yesterday as 'abnormal', all things taken into consideration. Implementing a rule of one trade per day helps to combat the abnormal ranges and stops me chasing the market after a wrong trade.

I'm not going to end this journal, it started crazy, but i rather like my little journal now, so i'll carry on and right my wrongs.

Thanks for ALL your comments haha, and feel free to join in and post anything relevent to the eurdol.

Cheers!
 
Last edited:
scose-no-doubt said:
good luck
Click to expand...


Cheers mate. If the truth be known, the original journal idea was a little bit juicy and entertaining (not for me). I don't want to get into the normal journal routine of,...out for +18 or -12 pips, especially on a market like the eurdol than can move 20 pips by the time i've posted a trade.

The only way around this is to post limit orders, bracket trades, then there really is no arguement.

Wadda ya think?
 
I agree yesterday was abnormal. (Look at the drop in gold for one thing).

If it's any consolation, I was also short EUR/USD :-(
(not with quite so high a leverage though).


I had been going to ask: what was the background to this?

Why the choice of so high a leverage?

I assume there was some particular reason.
 
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