Forex trading live calls and set ups

[leovirgo]

lol now -15 pips for week but down a lot more cash wise.Both trades were viable and were right of the bottom line. They look great when they come off and you look like a fool catching a knife when they go wrong.

I had my 2 losses for a day and stopped trading. If I continued - it could have been worse. I don't know if I'm out of tune or it may be something to do with today's funny price action.

hmm, looks like today's action wasn't 'technical' enough for us TA traders. I had my fair share with 3 small losses on GU. Got a sell level on EU but didn't have a chance to enter as it never looked back.

UK GDP figure will come out tomorrow. I want it to have a positive impact because I'd love to buy GU all the way to 1.5600 - good for holidays money . :cheesy:

 

[leovirgo]

GU: looking for sell below 1.5360. not the best set up as it has already touched 1.5320 and bounced

UJ: long above 93.45, don't want to go lower than 93.30

EU: expecting a reasonable bounce, probably best to short it after US open or on Monday

 

[leovirgo]

euro short 1.3268 sl7

 

[leovirgo]

UJ buy 93.44 sl9

euro stopped -8

 

[pssonice]

sl7

sl is the meaning of stoploss, isnt it?
7 pips stop is ok for someone who knows what to do.
you dont have any idea what to do.
you have to increase your mean sl bei a factor of 5.

 

[leovirgo]

Re: sl7

sl is the meaning of stoploss, isnt it?
7 pips stop is ok for someone who knows what to do.
you dont have any idea what to do.
you have to increase your mean sl bei a factor of 5.

show me with an example trade - called out live

happy to learn

 

[minch]

Waiting: Looking to short EU.... 1.3355 ish

" " " UJ.... 93.65/70 ish

 

[bedsit]

IMO cable is ready for a short. I had a look at the price action (Poet's day) and don't like it. I'll give it a miss.

 

[leovirgo]

Waiting: Looking to short EU.... 1.3355 ish

" " " UJ.... 93.65/70 ish

Buy UJ 93.42 sl8

 

[leovirgo]

UJ sold out +27 over to you minch

 

[minch]

UJ sold out +27 over to you minch

Nice one Leo....I think I will pass on this one...took out the level far strongly for my liking

 

[leovirgo]

UJ touching expected High 93.80, *£$% why did I jump out in a hurry?

 

[Black Swan]

UJ touching expected High 93.80, *£$% why did I jump out in a hurry?

Good article from AEP in The Toryrag yesterday re. Japan and as a consequence the Yen...EY, GY and UJ have (for the most part) trended well this week...EJ has been fab again this morning..

http://www.telegraph.co.uk/finance/...0444/Fitch-warns-of-debt-shock-for-Japan.html

 

[pssonice]

1220 -9396 ... top

 

[Black Swan]

Re: sl7

sl is the meaning of stoploss, isnt it?
7 pips stop is ok for someone who knows what to do.
you dont have any idea what to do.
you have to increase your mean sl bei a factor of 5.

That's a bit harsh buddy, possibly down to English not being your first language, I don't trade off 10-15 min charts either, but Leo is quite happy with his R:R. Looks as though he risks ten pips to make 30...some you lose, some you win, some (like his UJ trade) he'll stay in by the skin of his teeth, not get stopped out by a tiny decimal, and bag 20+ pips...

 

[leovirgo]

1220 -9396 ... top

does it mean you shorted UJ at 93.96? UJ high of the day 94.22 so far that means your short was in the water for -26pips (max).

 

[leovirgo]

R:R challenge

I will pay respect to anybody's technique if it can be proven over the long term as better than 3:1 profit factor & 50% win loss ratio. That means

1. (total win money/total loss money) >= 3
2. number of winning trades/ total trades >= 50%
3. must be profitable every year (doesn't have to be profitable every month)

It can be long term, swing trading, day trading or scalping.

 

[minch]

Short EU...1.3290...sl 1.3310

 

[minch]

Short EU...1.3290...sl 1.3310

Scaled out 2/3...1.3280....

 

[temporarilylight]

long 1.5304
18 pips stop