Thread: Closed: Discuss EUR/USD News with a DailyFX Analyst

took a long here 142.15 think as soon as ny opens they'll be buying.

Originally Posted by Gregory McLeod

Economic Calendar for Week of 4/4-4/8 2011: Four Central Bank Announcements! The Reserve Bank of Australia, FOMC, ECB, and Bank of England are scheduled to announce rate decisions this week. Bernanke also speaks Monday as well.

These announcements could create a lot of volatility so trade with care.

For a more detailed Economic Calendar please click this link.

Hi Greg
Do we have a Fed decision or just the release of the minutes? I thought the next Fed meeting was April 27

Weekly support and resistanct trendlines top and bottom
Daily support and resistance upmove touching weekly resistance ..........Interesting time

If the next daily candle takes it cue from the last two 4 hrly candles, the bulls may have to wait till next week to see fresh tops.

It's bed time for this Ozy. got my 60 pips so will check to see what the Yanks got up to at lunch time tomorrow.
Cheers

I hope Everyone had a fine Weekend.
I'm still short. Perhaps only Me and Toulouse Lautrec can make that statement.Though a couple of our younger traders seem to be on the wrong side of the line too.
One youngster said He had a grand at risk and seemed very worried. Perhaps the reason for that worry is you're looking to make to much profit from one trade.
Heck Son! It don't matter if you got a Grand or Million Bucks. Never risk more than five percent of your account on a trade. Preferably two or three percent.
I find this especially important in my case as I seldom trade with stops. Yes I have an "Oh God it Hurts too much." stop, but I seldom reach it.
The last thing I need at My age is stress. A little excitement keeps the energy level high. Stress and worrying about a margin call ain't no fun.

Happy Trading!

bill 5 % means technically we can blow up our account in just 20 trades? isnt it too much? ofcrouse the profits are also high but we have to sercure our losses first before heading towards profits,
As Alejandro says everytime his videos ` never risk more then 1% of ur whole account on any given trade`` is the best way to trade for all the newbies, coz even one trade goes against us n hit our S/L we still have 99% chance of staying in the game,

Happy trading...

Originally Posted by chaudhry

bill 5 % means technically we can blow up our account in just 20 trades? isnt it too much? ofcrouse the profits are also high but we have to sercure our losses first before heading towards profits,
As Alejandro says everytime his videos ` never risk more then 1% of ur whole account on any given trade`` is the best way to trade for all the newbies, coz even one trade goes against us n hit our S/L we still have 99% chance of staying in the game,

Happy trading...

What you say is true! But you would really have to Suck at this trading thing to lose that many trades in a row. Even if there weren't any winning trades in there someplace.
If you shrink your account by fifty percent, Ya gotta take a step back and say, "What the Heck am I doing wrong?"
Common sense Eh!

Didn't know if everyone saw this. In case this is important to your trading style:

DOLLAR: David Watt of RBC Capital Markets notes that Friday's CFTC data (for positions ending March 29) showed that speculative accounts had a
net dollar short of -220,192 contracts, down from -231,615 contracts on March 22. Nevertheless, net dollar short positions held over 200k "for
an unprecedented eighth straight week," he says. In the last extremely bearish dollar period, back in Oct/Nov 2007, spec accounts maintained a
net dollar short over 200k for most of the period, however, "never above 200k for more than 7 straight weeks," Watt says. In other pairs, Aussie
longs rose to +85,656 contracts (from +51,734 contracts), not far from the record high of +88,9k contacts, he adds.

Scalping not suiting my style but is 'dish of the day'. Fridays open position @ 1.4236 short closed for just 10 pips profit, Sunday long @ 1.4228 with 20 pip limit reached, Sunday shorts @ 1.4232, 1.4237, 1.4260 closed with 6, 9, 32 pips profit.

Hedge short @ 1.4237 closed for 2 pips profit. 79 pips total and presently have 1.4198 long with stop securing little profit. Some times matter not how they come than they come. All welcome at Eska's house (smile)

its my own experiance, i started with risking 3%, then after a couple of positive trades i jump to 5% n then i end up in loosing more then 50% of my account in just two weeks, and i think i paid the tution for succes, and learn that no matter how sure i am about my trades i should not risk more then 1% of my account on any given trade, n its working well....

Originally Posted by Eska

Scalping not suiting my style but is 'dish of the day'. Fridays open position @ 1.4236 short closed for just 10 pips profit, Sunday long @ 1.4228 with 20 pip limit reached, Sunday shorts @ 1.4232, 1.4237, 1.4260 closed with 6, 9, 32 pips profit.

Hedge short @ 1.4237 closed for 2 pips profit. 79 pips total and presently have 1.4198 long with stop securing little profit. Some times matter not how they come than they come. All welcome at Eska's house (smile)

Stop on long position reset to 1.4205. Not clear what happens now, what happens now makes what happens after clear before it happen. Eska wait.

Originally Posted by Eska

Stop on long position reset to 1.4205. Not clear what happens now, what happens now makes what happens after clear before it happen. Eska wait.

we have the same stop, lets hope it doesnt get triggered. i think we will see some action north after 11:00 (london close)

Originally Posted by Spartan_Forex

we have the same stop, lets hope it doesnt get triggered. i think we will see some action north after 11:00 (london close)

Easy to say, still I wait for confirmings. My stop secures just 7 pips profit but in first sight of short trade then I make.

Remaining appears pole and flag, count allows both direction. Getting restless with this.