Forex Day Trader's Thread

EURUSD_20091209143829.GIF


medium term Euro chart bullish above 1.445 .. I'm out 1.443
 
Well I have good news and bad news.

The good news is I won't be holding any trades over the weekend.
The bad news is after seeing a slight bit of profit earlier on in the day for the first time this week I got completely shafted and stopped out. Giving me a nice drawdown and putting me on for my worst week ever that's going to take a while to recover from.

On the bright side, i'd like to think of it as a trading lesson and assuming I get it all back + more i'd like to consider it a cheap lesson compared to what it could be a few months down the line. I should have trusted my instincts with usd/jpy last night and not been a greedy swine this week - especially holding over the retail numbers, but it's all history and next week's a new one.
 
So when you were complaining the other day are you above or below that point? It was definitely not a good week to trade Euro long that's for sure.

I might be swimming in the underwater club if Euro breaks 1.458

I'm risking $850 for $2,400

I had an outstanding Monday and basically did nothing the rest of the week..
 
So when you were complaining the other day are you above or below that point? It was definitely not a good week to trade Euro long that's for sure.

Which day? Since last friday afternoon it's been a big downwards slope. It's been pretty crushing :(
 
no, I meant Wednesday when we were both in Euro 1.468 .. I moved my stop up and got 25.. Did you get anything? It was up about 70 pips at one point.
 
no, I meant Wednesday when we were both in Euro 1.468 .. I moved my stop up and got 25.. Did you get anything? It was up about 70 pips at one point.

Oh that one, that was a good trade. I had a stop of about 23 pips on it. No, I was holding it as I had some other positions and it improved my average. I got triple-stopped today and got 0 from it. I really messed up this week.

Next week i'll be taking smaller profits, using stops and i'll probably be trading some other markets and not just sticking to euro - especially if it's being funny like this.
 
CP. I'm long Euro 1.46 and I will be holding it for a long time.. If it can get back to 1.508 by Xmas then my work this month is done. Need to get back to day trading once things calm down and make a little extra (or lose a little extra).. If I see something good I'll jump on it.
 
It seems to be the smart move atm.. If the market is indecisive a lot of silly moves will occur and it's too hard to trade with 15 pip stops. Take a look at the 5m ninja chart.. no thanks
 
it's not a new strategy.. I'd be doing nothing otherwise and I just want to use this opportunity to do something productive and buy some cheap Euros.
 
Top