It’s hard earning for the first week of new year for me. Only gain few pips, nzdusd loss, eurgbp win, so gain a little, gold out of BE.
Hope next week all gain more pips.
hmm… EU gained a lot of ground today…
Safe to say EU is bullish for today 1/8/2016 ?
According to weekly bias and market structure I will go short if the price come around 1.095-1.098.
Yes, agreed
A new year and i wish each and everyone of us can learn from each other and become better traders. Some of us are well in our way to be a better trader and willing to give a helping hand, because that is what its about. Lifting everyone up to greatness .
A pullback candle / PinBar on Weekly chart of EU.
I say market can break the high of this PB next week and then form a sell signal from a little higher.
Maybe around 1.0980
No Selling at least until then.
What do you guys think ?
I think one of the hardest thing of trading is the waiting game . Amanfx and sharebazar pointed out entry points of E/U going short. Right now this pair is at a high traffic area.
Hi to all of you and all the best for the new year. I did not made any trades this year and not even start looking at my charts. But its good to see some good trades this year all ready made here
I like what you wrote Tonyro44 - "Lifting everyone up to greatness " That what it is all about.
I think that would be a wonderful goal for the NEW YEAR
Hi tonyro44,
Happy new year, yes we all have the same goal and very friendly attitude towards each other in here.
If we help each other our success and achievements can come earlier. Just keep the positive attitude and let’s trade together and enjoy the success together.
Hi TC,
Happy new year, hope you are doing great, let’s make this year memorable and successful.
Happy new year Sharebazar and yes lets make it successful for all of us
Hi sheldon,
Don’t worry we still have whole year in front of us, we will make it back slowly and we will make more. Just keep patience on the process. Follow your trading plan with decipline for every single trade.
Hello all…
How is the week look for you all so far ?
Any views on the EU ?
Not so good Amanfx 3 losers already this week.
EU is ranging. Yesterday I was looking for long setup but I missed it and now is +110 pips
I hope you are doing better
Dear friends,
I have always seen the big move like between 80 - 400 pips in EURUSD. It is like 80 pips move up just a moment ago.
Why is there frequently such move of near 100 pips?
Is this price action done by the institutions?
Is such price action done by auto trading ?
I noted in some scenario, the move takes away my pending orders easily if I place stop loss on my pending orders. Is this price action intentional to take away the pending orders?
In your trades, what will you do to these price actions?
Will you profit or positions from the big price action?
I eagerly seek your professional observation to the above, Thanks.
Sincerely Yours
Artrader
Hi,
I am not an professional to answer your question. But I know that there are a lot of things moving price. I think businesses is a big part of that. Import and export from euro to US zone and oil import in Europe are moving price. Also Mr Dragi is trying very hard to bring inflation up and to push the euro down. The US is increasing interest rates. This is probably a reason that money start moving out of the stock market and country’s with big dollar dept are getting in problems. I don’t know why this moves are happening but if you can predict them use it to make money.
Just my two cents , EU is the most traded spot out of all the currencies . There are traders that this pair is the only one they trade because of the action it has.Those traders have developed their own style to make it work for them. With this pair you either trade it as a day trader or long term trader to really have good results with it.
Thanks sharebazar for your warm nice words.
These days i consider one question in-depth:
What’s the better position size and stoploss?
Risk 1% is popular answer, but there is not same answer for position size and stoploss.
After i prove the relation between risk and gain with math,
I find small position size and big stoploss is fit for big capital for long term,
big position size and small stoploss is fit for small capital for short term.
With small capital, if trade long term the income is small,and need longer time to enlarge account.
So my answer for small capital, if want quick earn big money, just use big position size (10%)
and less target (5-20pips),less stoploss(5-20pips),
the enter TF is M5/M15/H1,more order per day,
if judge wrong, -5pips could be out by manual.
This is what i am doing now, seem good enough if i follow the discipline.
Hi Sheldon zhang,
There is a relation between risk and profit What is important to test your strategy. there are other factors involved. Like opportunity, R/R and expectancy. Don’t forget that with 10% risk you can loose all your money in 10 trades What is the longest row of loosing trades in your system? What percentage of your trades are positive and what perc. is negative? If you trade 5_20 pips you are trading in the noise of the market and you can be stopped out without any reason. I have a spread that is sometimes bigger then that! The cost of trading that way is having also more impact then on long therm trades. In my opinion you can take only a higher risk if you are a very consistent trader and you know how your system is performing.
Hi TC Holland,
I think maybe my presentation about risk 10% is misunderstand, I should modify it.
For example, account capital is 10000$, risk 1% is 100$,
Stoploss 100 pips, position size is 0.1 lot
Stoploss 50 pips, position size is 0.2 lots
Stoploss 10 pips, position size is 1 lot
I prefer the last one less stoploss more position size for small capital.
So what I mean risk 10%, in fact it’s position size 10%, 1 lot = 1000 $.