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[N Rothschild]

wont be thinking about any eur shorts till 1.3150

 

[barjon]

so,so spot on. Im fuming. We are now at a perfect entry price for my trade,i wouldnt mind losing 15 or 20 from here ,but now it could be nearly 35 x2, and to make matters worse it could take my stop and reverse. I dont normally trade this time of night,only wife and mum watching diy sos

Don't fume, flashy Just red ink highlight it in your log however it goes. The object of the exercise is to turn over the pages of your log and see diminishing red highlights until that happy day when there's no red highlight screaming out for days on end

...an if you don't keep a log then a post-it note with DISCIPLINE on it perched on the top of your monitor

 

[Lord Flasheart]

Don't fume, flashy Just red ink highlight it in your log however it goes. The object of the exercise is to turn over the pages of your log and see diminishing red highlights until that happy day when there's no red highlight screaming out day after day

...an if you don't keep a log then a post-it note with DISCIPLINE on it perched on the top of your monitor

thats not a bad idea, your on form tonight. I mostly log trades but dont do stuff like that

 

[Lord Flasheart]

If i get away with this Ill change my name to Black Swann2 in honour of him

 

[Lord Flasheart]

i should be 8 pips up now

 

[barjon]

thats not a bad idea, your on form tonight. I mostly log trades but dont do stuff like that

you wanna see mine - after 30 odd years it still full of red

 

[Lord Flasheart]

got to go out now and leave trade on,have set to take 1/2 off at +25,why did i get into this

 

[wackypete2]

Overnight breakout trade plan. eurusd 1h chart shown.
Placing 2 orders since I don't have conviction either way at this point although the flagpole formation favors the upside. A look at the daily chart shows eurusd has been up on 7 of the last 8 days so there could be some correction.

Sell Stop @ 1.3090, stoploss 1.3112, target 1.3055
Buy Stop @ 1.3118, stoploss 1.3095, target 1.3150

1/2 position on both sides since this is an overnight trade.

Both orders will remain open until either target is hit, or I get stopped out on both, or I wake up in the AM and say @$#%@$ and exit/cancel everything.

Any comment or criticism is welcome. I'll respond in the morning!

Catch everyone tomorrow!

Peter

 

[N Rothschild]

i would never try that trade on a flag, your almost certainly gona be triggered low stopped high

 

[wackypete2]

i would never try that trade on a flag, your almost certainly gona be triggered low stopped high

That is the risk on these types of trades and so far this year I'm a shade under the break even point with these. That's why I have used only 1/2 positions so the risk is less. The overnight forex trades have been an experiment for me this year.

I appreciate the comment.

Peter

 

[wackypete2]

I wouldn't be taking a trade here but if I was:

I'd only look for a resumption of the bull spike personally, but I wouldn't leave orders on both sides. I'd look to see how the action develops and see if there was a decent entry signal.

I agree except the one thing I don't like about these overnight trades is I'm not here to watch the action. I'll either have to get used to it or just stop trying to trade this way. Honestly, I don't know how position traders do it!

Thanks for the comment.

Peter

 

[N Rothschild]

here is a timeless piece of advice. the high is never the high, the low is never the low. its not a low or a high untill it has been tested, taken out then failed. markets dont just go up stop and turn round. i would bet my left testicle 1.3120 is not the high of this move. maybe 1.3121 will be, but 1.3120.

obviously this isnt always true, but in most cases it is.

 

[wackypete2]

Well, if I get double stopped out you guys can have a few laughs at my expense
I'm not immune to looking stupid once in a while

OK, I can't keep my eyes open. I'm definitely out...

Peter

 

[VielGeld]

My personal take is that I would consider this new level independently of the massive post-FOMC upswing. So there is no "high" to be found here, it's just a new battlefield.

What about the ripple effect, too? New highs make more highs. I don't see any trade here, I'd rather wait for price to move around a bit before deciding how it's going to react.

 

[Lord Flasheart]

needless to say stopped on last euro trade. Good morning

short eur/usd at 1.3128 sl 1.2145

 

[Lord Flasheart]

needless to say stopped on last euro trade. Good morning

short eur/usd at 1.3128 sl 1.2145

1/12 off at +17, rest to b/e

 

[Lord Flasheart]

needless to say stopped on last euro trade. Good morning

short eur/usd at 1.3128 sl 1.2145

didnt expect this +17 and b/e, looking at re netry

 

[Lord Flasheart]

short eur/usd at 1.3125 sl 1.3142

 

[Lord Flasheart]

heres chart

 

[Lord Flasheart]

short eur/usd at 1.3125 sl 1.3142

1/2 off at +16,rest to b/e