An average week, well very much above average for recent, 4,4,3,4 PIPS 4% return.
Also well done!
Seems I’ll be the only one going into the weekend in a nice drawdown. 
Making homemade pizza to lick my psychological wounds haha 
No real reason to this post, I’m just testing to see if my Photobucket img will turn out weird as Tymens did.
Yep, cheap sons of …
Lucky I’ve learned from SweetPip how to use BP and not have to upload anywhere else!
I think it’s something babypips related, not photobucket. All the images in the forum, wether uploaded from a website or attached directly, have been size reduced.
Seems you’re right now that I look closer!
Anyway, here’s how to include images in the body of your post without uploading to imageshack or photobucket or the like:
I should mention that this is something I learned from SweetPip!
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Snap your image as per usual
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Load it into your post by going through manage attachments:
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Right click the image and choose “copy link address” (probably called something else in IE)
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Paste it into the image address popup:
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Tada!
I have to say I’m in complete agreement with that criticism. Being able to insert full sized images in the posts is a very important feature. The way they’ve changed it reduces the readability of thread.
Hmm, if somebody hasn’t posted about this in the bugs and suggestions subsection I think I will!
My rules allow no more than 4% of my account to be at risk at any one time. Currently I’m at 2% risk with the EURGBP position. Silver may be coming back down and perhaps it will trigger today on my live account, as it has already on FXPro.
That would make 4%.
Looking at charts tonight I can’t help but notice that AUDUSD and USDSGD both look interesting. Now we can draw a descending trendline across the the tops on a daily AUDUSD chart and similar but vice versa on USDSGD.
Apparently, the US healthcare bill may impact the markets in unpredictable ways and elsewhere I’ve seen the recommendation from a skilled person to not enter into new trades right now.
I’m taking that advice but I was quite tempted to look closer at AUDUSD. Well, patience always pays out in the long run.
EURGBP has behaved well today and further dropping would be well received by me.
Silver did trigger and apparently decided to immediately mock me by forming a daily pin bar against my trade. Perhaps they found out that I don’t do silver fillings? (silver fillings were banned in Sweden a few months back due to environmental concerns, it’s all plastic now baby! :D)
Seriously though, No reason to panic and get out for a small loss. Both trades remain valid and we shall see how we end up.
Plenty of pin bars forming today but I’m already maxed on my risk, so no new orders for me.
Think Mercury… Goes into the ecosystem and refuses to leave. (It’s the Mercury in Silver fillings that make it “moldable”)
Yes, it almost looks like a H&S type pattern on a daily chart, starting back in October 2009. Where will it go? I have no idea really.
Let’s have a look at the two active trades:
EURGBP
Here we see that price spent the whole day testing what it felt like to move higher toward 0.90. But at the end of the day, price apparently found it didn’t want to go there and actually closed a pip or a few below the open.
I see no reason currently to close for a partial loss, not that I’m allowed anyway according to my rules. That rule however is one of few that I will sometimes break based on the famous “gut feeling” thingie. Not tonight though.
Silver
Now Silver gives more reason for doubt. Yesterday it activated my live account order and then reversed and formed a pin bar-ish bar. Today it proceeded to form a doji. Quite a bit of indecision here in other words. The big picture looks bearish to me, but to other traders it might look bullish if they define trend by starting at Feb 5.
All in all, the bar that was my reason to place an order, the March 10 bar, is still valid and since then a lower low has been made but no higher high.
I admit this current situation is one where I do not feel 100% certainty in my trading, but I’m going to trust in the analysis that made me place the order in the first place and hence stay in the trade rather than taking a small loss. Is that the right thing to do in spite of price ranging around instead of dropping as I anticipated? I don’t know.
Perhaps it would be smarter to take a small loss and reevaluate by the sidelines? Maybe it’s the human desire to not be wrong and to not lose that is keeping me from doing that? Whichever way this trade goes, it’s one that I’ll be reviewing my management of afterwards. Perhaps I should have removed my pending order after it didn’t trigger (on my live account) after a couple of days. Many potential choices to consider here.
My sadly uneducated guess is that we’re about to resume the downtrend.
I base that on Tuesday’s close which was lower than any close in Feb or earlier in March.
Until proven otherwise I choose to view the current range as a bear flag continuation pattern, forming about half way from top to bottom. (yes, I think it’s possible that EURUSD may revisit the 1.24 level.)
This is just pure speculation though with very little substance behind it.
Hmm, strange. The images weren’t clickable as I thought they should be. BP must have resized them during the upload. I guess it’ll have to be Photobucket again then.
Correct, the SL is at 17.65 for Silver, which is just above the last swing high.
Yes, and that shows how little I understand about US politics and it’s influence over the markets psychology. When Clockwork warned about not trading until the Health care issue was cleared, I though that if it passed, markets would come crashing down for fears of “socialisation” of the US and for fear of higher taxes, etc. Instead, seems like the opposite is happening… :rolleyes:
No, I’m with you there.
I think it was on the J16 thread a few weeks back where someone posted a very good analysis about why the Gold bulls are wrong. I tend to agree with that view.
Silver has more uses in industry and so it isn’t driven by quite the same forces as gold, but they both behave bearishly now imo.
Yes it went completely haywire. And none of the members that are usually blamed by newbie clowns for destroying “good” threads were involved.
It’s become quite a mess and I don’t know what to believe really so my interest in the thread died away, removed my subscription yesterday. Dead pips huh ;). Something didn’t quite smell right about it though, I’ll go as far as to say that. All in all, his trading style reminded me of raczekfx and his touch trades. Which is to say that pretty much all worthwile trading methods are covered somewhere in the J16 thread / ATT threads / a few others anyway.
Forums like BP are rougher places than one would think. Sometimes I wonder what the average age is of the users here, it’s probably lower than I’d like to guess. It’s easy enough to spot the few members whose posts are actually worth reading. And that’s not just a BP phenomenon, it’s the same really over at FF.
Those with enough mental maturity tend to find the useful threads after a while. The rest… well that’s sadly obvious.
Let’s start with Silver which get’s an A for good behavior today:
Not quite so happy with EURGBP which is having trouble moving lower. We did however make a new low today and it closed as a weak bearish bar with an unpleasantly long lower wick. Patience is the traders best friend and i will keep sitting on hands.
Chart:
Sounds like it.
To avoid that I’ll first figure out in FXPro how many pips my SL should be,
Then I use the order window in Oanda to test what lot size is correct for that SL, using the market order tab
After that I switch from the market order tab to the limit order tab and input the lot size I’ve figured along with entry price and stop loss price, not pip distance:
That’s where I can see if everything is correct before clicking the submit button. Once you get used to it you’ll find it’s a very smooth way of doing it actually. 
Nothing much new on the trades today. EURGBP still the shaky one, still holding.
Tomorrow or during the weekend I’m going to make one more post update regarding DailyFX. I’m also going to respond to wrtm earlier post about volume/VSA.