Forex Day Trader's Thread

[Pippy5000]

I don't set pip targets.. the market doesn't give a **** about what I need.. I just try to make good trades.. I need $4,500/mo to cover taxes and living expenses and some months I don't get that but other months make up for it.. I usually kick ass when pairs fall in a range and other times I do poorly or medicore.

 

[Pippy5000]

With the exception of 9-11 and Lehman Brothers I've never seen a candle in Cable as long as today's candle..

-470 pips top to bottom..

 

[Masquerade]

Sure, but i'm just trying to get an idea if you're averaging 20 pips/day so 111 pips is about 5 days work or if you're taking 100+ pips/day. As for the $4500, it's kind of meaningless without knowing account size + risk. Make sure to have some change for saturday.

And yes, the cable stick is pretty sick - I can't be fooled into such rubbish, not on my watch.

 

[cpngtw]

Take it easy Pippy. Just take a day break or something like that, go away from the computer and come back with a fresh mind.

Based on what I understand how you trade, you probably do better in a range bound market than a trending market though. If this is true then when it's trending so strong, just heighten your alert...

Sometimes I got into days where every trade goes wrong no matter what I do, I just stop trading though ...

 

[cpngtw]

I think next stop for euro is 1.459

 

[Pippy5000]

I'm only 10 pips down today.. it's ok..

 

[Pippy5000]

I'm grabbing Euro long at 1.451 .. beyond that and this is not a correction but a major reversal..

 

[cpngtw]

1.451 is at the no man land man ... I don't see S/R there

 

[Pippy5000]

when your business is picking tops and bottoms getting stopped out is simply the cost of business.. I will stick the bottom on this move and get everything back and then some.. it'll be alright..

 

[N Rothschild]

im selling euros this aint no correction!

 

[cpngtw]

I see why you pick that point... probably not happen tonight tho

 

[Pippy5000]

should be support at 1.45

 

[cpngtw]

I'm thinking about getting a quad graphic card

 

[Masquerade]

I'm thinking about going to look for a nice dry bench to sleep on.

 

[cpngtw]

I think the next real strong support is 1.443 area. If it falls thru that, that's it!

 

[cpngtw]

I'm thinking about going to look for a nice dry bench to sleep on.

What happens to your beloved bed?

 

[Masquerade]

What happens to your beloved bed?

for sale soon at this rate.

 

[cpngtw]

Hopefully you are not trading using free internet access from a coffee shop & sleep in the car

 

[Masquerade]

That story may not be too far from the truth shortly. I think i'd have mobile broadband though. I have traded from the library though. That would seem a fairly good idea and free power too.

 

[Pippy5000]

Man.. make room for me on that bench.. Maybe both of us put together can buy a newspaper to keep the rain off of us..