this is why i am doing this yes you are right with out longs and buyers how can we go to 3272-77
or to my other pending sell order at 1.3291 just in case, and any thing "unexpected" happens
for that we use stops
good luck to all of us
use leverage wisely
chart attached
thank you!
yes, there needs to be a buyer and a seller. just went long @3245, let's see.
sudden huge drop within minutes from 3280 to 3225. that is the most dangerous roller coaster ride i ever seen..
nono this is normal for ISM manufacturing plus diveregence on eu...technically it is overbought and 3212/10 is now very very very imp--- breaks that and its 3161
very rare does stocks and dollar index travel together hand in hand .... but on ISM releases it can be quite normal bullish for stocks yes indeed but also initially bullish for currency (USD)
wHAT MAY HAPPEN 45 MINS AFTER RELEASE IS THAT STOCKS MAY DROP and dx continue upwards or vice versa
euro is trading directly opposite to dx hope this helps and good luck to you
sudden huge drop within minutes from 3280 to 3225. that is the most dangerous roller coaster ride i ever seen..
i've seen 300 pip moves during the financial meltdown several years ago, well that's forex for you. anyway, my positions look bad. hope you're doing better.
i've seen 300 pip moves during the financial meltdown several years ago, well that's forex for you. anyway, my positions look bad. hope you're doing better.
I just started my forex trading 6 months ago and still learning. i holding my short position at 3170 & 3260 so waiting for it to touch the first R1 for me make any decision.
this is why i am doing this yes you are right with out longs and buyers how can we go to 3272-77
or to my other pending sell order at 1.3291 just in case, and any thing "unexpected" happens
for that we use stops
good luck to all of us
use leverage wisely
chart attached
thank you!
quick update of my trade and chart this is 5 min time frame in this green down line is daily down line and dotted red line is weekly down line as you can see on the chart when prices touches the green down line they fell and immediately found short term support right at weekly down line i have closed my short scalp at 1.3216
lets see where it goes to my next number which i was mentioning earlier i.e 1.3187-90
thank you and good luck to all of us!
Well, I'm just about done. Finally get the big drop I've been holding on to shorts for for days: and find I was stopped out, just moments before it started, for another big loss. I'm at -$490 since I started, when I hit -$500 I'm out of this game. If I don't see you again, it's been nice meeting you.
Well, I'm just about done. Finally get the big drop I've been holding on to shorts for for days: and find I was stopped out, just moments before it started, for another big loss. I'm at -$490 since I started, when I hit -$500 I'm out of this game. If I don't see you again, it's been nice meeting you.
when i started in forex i lost and lost and lost. it was not that i didn't know what i was doing, i worked on wall street for a world class firm for many years before going off on my own, it was that i didn't embrace forex way. i tried to will the market my way, of course we're but a spec of sand in this huge ocean that's the market. even now, as you can see with my open positions, i take a beating now and then.
wish you well and success.
Well, I'm just about done. Finally get the big drop I've been holding on to shorts for for days: and find I was stopped out, just moments before it started, for another big loss. I'm at -$490 since I started, when I hit -$500 I'm out of this game. If I don't see you again, it's been nice meeting you.
Ha! Your doing much better than when I started my friend. 5 years ago I made 10k in my first week of trading and I lost it all in one night due to not knowing all the ins and outs of what I was doing. They say it takes about 2-3 years for the average trader to profit if your ever going to profit. You shouldnt give up, just lighten the load a little an get used to the emotions of trading real money. I have 7 account all different terms of leverage. Try doing a 1:1 leverage for awhile. 1:4 maybe. ITs a lot less to handle and the swings wont emotionally drain you. Sticking with trading was the best decision I ever made. Keep your head up.
i've seen 300 pip moves during the financial meltdown several years ago, well that's forex for you. anyway, my positions look bad. hope you're doing better.
300? In 08 there were 1k pip moves! Ill never forget selling GU at the top and getting out in 50 pips happy, then watch it fall another 1000 in...haha...thats trading for ya!
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Originally Posted by turmaz 
