EURUSD shorting opportunity on Slovakia vote?

[Doomberg]

well i think you are fine down to 1.3580 this is where you hit a trouble zone. Personally I would set stop to break even and go for a huge cricket score. surely you are going to move your stop to b/e now?

I would do but i have my beady eyes on it for now, although i may be going to bed very soon and think moving my stop down to BE of 44 may not give it the best chance, my stop now is at 704 (60 points) which is the monthly high, this would let me sleep safely (i hate over night positions) and my normal trades are 2-20 minutes but i feel that this one may be a good set up to leave overnight, any views on this guys? Currently 35 pips up.

 

[MajorDutch]

I would do but i have my beady eyes on it for now, although i may be going to bed very soon and think moving my stop down to BE of 44 may not give it the best chance, my stop now is at 704 (60 points) which is the monthly high, this would let me sleep safely (i hate over night positions) and my normal trades are 2-20 minutes but i feel that this one may be a good set up to leave overnight, any views on this guys? Currently 35 pips up.

set your stop loss to +1 and a sleep soundly dude.

 

[Doomberg]

set your stop loss to +1 and a sleep soundly dude.

You're right, better safe than sorry - nothing crappier than waking up to a giant hole in your account

SL set at +1 and TP set to +200 :cheesy:

However this is too active to sleep now

 

[MajorDutch]

You're right, better safe than sorry - nothing crappier than waking up to a giant hole in your account

SL set at +1 and TP set to +200 :cheesy:

However this is too active to sleep now

better than waking up to a giant hole in your a55!

we are getting some action here in the middle of the night on the euro.

 

[Doomberg]

Yes is some good action

And i like you're username and Av, i've always been a fan of Arnie myself in fact Predator was the 1st film i seen of him and as a kid it inspired me to get in to sports, anyway where are you from? I'm manchester born but currently living in south east spain

 

[MajorDutch]

my stop is now at +1.

 

[wackypete2]

Good call guys!
Well done

Peter

 

[MajorDutch]

i am out of there took +21 pips, we had hit the 1.3580 trouble area as predicted and the +21pips were needed to cover some boredom scalping losses I made earlier in the day.

 

[MajorDutch]

Good call guys!
Well done

Peter

yeah I need to do more of this type of trade as I seem to make money on these. It's the scalping where I am trying to get profitable that I need to work on.

 

[MajorDutch]

Yes is some good action

And i like you're username and Av, i've always been a fan of Arnie myself in fact Predator was the 1st film i seen of him and as a kid it inspired me to get in to sports, anyway where are you from? I'm manchester born but currently living in south east spain

yeah I changed my username from sh5467 to MajorDutch. I am in London dude.

 

[Doomberg]

i am out of there took +21 pips, we had hit the 1.3580 trouble area as predicted and the +21pips were needed to cover some boredom scalping losses I made earlier in the day.

Nice trade, i may hold a little longer but you were right about signs of support at 1,3580

What gave you this idea?

 

[Jason101]

Nice trades, bed time now

 

[MajorDutch]

Nice trade, i may hold a little longer but you were right about signs of support at 1,3580

What gave you this idea?

I learnt the concept of trouble zones and 'space' from the james16 thread on forex factory. Essentially previous support and resistance can act as future trouble zones or price indecision zones where price is likely to chop around for a bit before either breaking through or reversing.

 

[Doomberg]

I learnt the concept of trouble zones and 'space' from the james16 thread on forex factory. Essentially previous support and resistance can act as future trouble zones or price indecision zones where price is likely to chop around for a bit before either breaking through or reversing.

Ah i see, i noticed it was where the last candle closed on afternoon support? Do you have a link to that thread buddy would be a good read.

And somebody fooking shoot me! I went against my rules and held! I held thinking "nah its gonna come down much more" so i was up all fooking night holding my balls until i finally closed -61 and i'm so annoyed, i was that much in profit at one point and was hovering my finger over the close button and was gonna go bed

Oh well, trading can be painful sometimes (especially when rules are broken) The greed devil got me!

 

[MajorDutch]

Ah i see, i noticed it was where the last candle closed on afternoon support? Do you have a link to that thread buddy would be a good read.

And somebody fooking shoot me! I went against my rules and held! I held thinking "nah its gonna come down much more" so i was up all fooking night holding my balls until i finally closed -61 and i'm so annoyed, i was that much in profit at one point and was hovering my finger over the close button and was gonna go bed

Oh well, trading can be painful sometimes (especially when rules are broken) The greed devil got me!

mate, google James16 forex factory link is on 1st page. The thread has like 100,000 posts so it is a monster. I signed up to James16 website for 1 month only which gives you access to all his webinars and condensed information. This is the ONLY money I have paid to a vendor where I believe the information was worthwhile. It's all there in the James16 thread though for free if you have 1000 hours spare. IT's fairly simple anyway you are basically looking at a chart and marking the areas of previous support and resistance, this is the basis of PA trading.

re - you -61 pip loss. Don't want to be too hard on you but that is an absolute shocker. You could have gone to bed knowing that you would wake up with either scratch or a cricket score and you stayed up and closed out for -61 pips. What were you thinking? The trade I described was a with money flow trade - with break-out, for this type of trade you need to minimize losses and maximize winners. In my book you should have absolutely scratched this trade without hesitation, without remorse. If you traded 3 of these set ups scratched 2 and one hits a cricket score you are motoring. capiche?

There is an explanation as to why you did it though as provided by Mark Douglas in trading in the zone. Putting aside you were probably dog tired so your decision making abilities were at a their lowest. The reason is that the majority of us have an inbuilt desire to break our trading rules, this is because if we trade without rules it allows us not to take full responsibility for the trade internally, it allows us to say ' stupid me I broke the rules, that's what happens'. Strongly suggest reading chapter 1 & 2 of trading in the zone, will explain it properly.

 

[glyder]

Doomberg,
I recommend J16 too, its good stuff.
Theres a good free section on his paysite too.

Another good thread over at FF is Strats Stress Free.
He aims to hold trades longer than J16

 

[samirs]

nice EUR$ short today due to Spain news