Forex Day Trader's Thread

Good resistance in UJ 90.9

I have a HUGE t/p in EJ .. I know things look bad for my short, but the thing is.. How many false breakouts do we need before we accept that we're in a range? I'm looking to the bottom of the range for a t/p.. re-entering short 135.6 with a stop above 136 and throwing in the towel for around a 75 pip total loss if the range breaks and it moves to 138

TAJAMMY: weeks, months, minutes whatever.. what you said makes no sense
 
Pippy5000 said:
Good resistance in UJ 90.9

I have a HUGE t/p in EJ .. I know things look bad for my short, but the thing is.. How many false breakouts do we need before we accept that we're in a range? I'm looking to the bottom of the range for a t/p.. re-entering short 135.6 with a stop above 136 and throwing in the towel for around a 75 pip total loss if the range breaks and it moves to 138

TAJAMMY: weeks, months, minutes whatever.. what you said makes no sense
Click to expand...

balls of steel needed for that ride, I don't have them:cry:
 
mmm yes it does. i thought you were ssaying the euro would go down when the stock market goes up. i was questioning how that is possible whenever the euro has risen just as the stock market has risen...?
 
Getting stopped for 30 pips is price of doing business. My target is 290 pips from 135 or 390 pips from 136. I would have to be wrong 10-13 times and right once on a move like this to break even. It's not really an issue of balls, I actually expect to get stopped, but I won't let the downside slip away from me. If it does go to 138 I'll short there too! :) I will pick the top and I can't see the future so I'll expect that picking the top will not work on the first attempt, but will work.
 
Hi Chilli, nice first post :LOL:

Question for pippy & anyone else who trades these later hours: Is it worth trading cable/eurusd between now and the next 10 hrs or so in general? I've looked into night trading before, some nights it seems a bit tight and rangey and other nights it can pull some funny moves on thin liquidity. Or is it better off just sticking to the more normal hours for European sessions? I'm toying with a 2 days on/1 day off idea but there are a few flaws in it.
 
pippy, not been watching this thread for long, however your EJ short seems out of character from what I have seen before..... maybe longer term than I've ever seen. Personally, I can't handle the roller-coaster of emotions that goes with longer trades.
 
Mask, the USD pairs with the exception of UJ do not move much in Asia.. Generally 40 pips or less.
 
BC, I'm expecting this tank to happen to due NFP tomorrow and I will not have to hold the trade long at all.. EJ can easily move 290 pips in one day.
 
You need to explore Red Bull (sugar free) .. I just slugged down two big cans and I feel GREAT and am ready to TRADE!
 
Oh, I don't know.. my guess would be anti-government militiamen lunatics who are upset about the Democratic Party.. I doubt it has anything to do with foreign terrorism i.e. AQ
 
Just trade EJ and GJ instead.. Generally, I find it kind of hard to glean anything useful from the Asian EU and GU price action..

EJ and GJ are great because the reward is greater on winners and you can still use a 30 pip stop..
 
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