Forex Day Trader's Thread

[SSINGH]

long yen too

 

[Pippy5000]

I got stopped out of AUD/USD ... still slightly positive for the day

 

[Pippy5000]

Short EUR/JPY .. need to watch for a bounce off 95 in USD/JPY though..

 

[cpngtw]

There is slight possibility EJ retrace back to 129.9. If not then watch out for resistance around 128.5 and then taking profit @ 127.5, IMO

 

[Pippy5000]

my stop is at 130.27 .. presently up 18 pips.. I'm watching it and will t/p..

 

[Pippy5000]

broke support.. trade looking good..

 

[cpngtw]

Yes, I think it looks good now

 

[Pippy5000]

Ninja will test 95 .. if it breaks EJ will utterly tank along with it.. This sucks though.. I was way up on the day from my EU trade and I got burned by AUD/USD

 

[SSINGH]

i think we'll see more dollar and yen buying......

as long as stock keep selling off,,,..this should continue....

 

[sullystocks]

EJ up from here

 

[SSINGH]

EJ up from here

EJ GOING DOWN

 

[Pippy5000]

We're right near major support in the S&P .. tomorrow we'll see if a new downtrend is beginning or if this was all just a really painful correction.. -0.4% drop in retail sales is a major improvement over the previous month.. The market was just expecting better.. Sooooooooo.. who knows? We'll have to see tomorrow.. The MO is down on EJ..

 

[sullystocks]

Took 20 Pips

 

[Pippy5000]

You'll be wiped out within a few weeks if you don't stop now Sully.. You don't have the slightest idea what you're doing.

 

[sullystocks]

Took 20 Pips Profit. Don't worry guys, i'm only starting off with small lots. Gotta learn somehow

 

[sullystocks]

Had to take it and stopping for the evening soon as it's late here in the Emerald Isle

 

[Pippy5000]

That's true man, but you have to demo trade for at least 6 months until you really understand.. Then you start with real money and you will almost surely lose it.. I blew out my account 6 times before I finally (and very slowly) started to inch forward.. I lost $6,000 initially..

The trade you just made was incredibly dangerous for example.. You don't want to jump in and grab 20 pips on a pair with a 6 pip spread that has been heading down with strong momentum.. You'll die quickly doing that..

 

[Pippy5000]

there we go.. the Asians are causing EJ to tank and I'm up 30

 

[sullystocks]

Points taken Pippy. Have a good evening trading guys

 

[Pippy5000]

well.. everyone told me the same thing and I still did things my way so I wouldn't blame you if you kept going.. just be prepared emotionally because it's almost impossible that you will find initial success.