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Hope you enjoy your vacation, Scientist. Sorry to see you cutting back on the board as I always enjoyed your posts. Steve

In case anyone is curious, my plays for the night (all of which have been entered): short EUR/USD short EUR/JPY short USD/JPY short EUR/AUD short GBP/USD Haven't decided on a holding time, but most will be a few hours to overnight.

I may actually jump in now. I think there may be a rebound on the hourly chart, but the longer term charts (2,3,4 hour) are showing a very good chance of EUR/USD rolling over and taking a nosedive.

Shaping into a nice trade for you. I still haven't taken any positions, but I'm looking into a few, including short EUR/USD.

Short EUR/USD is a position I'm currently looking at as well. I don't have any profit targets in mind, but a pullback/correction seems to be occuring, or gearing up to happen.

Nice trades, rax! Take care.

Not yet. I haven't sat down to review the charts, but I think I may short the USD/JPY. The daily chart is setting up for a possible reversal, but I need to look into it some more. I'll post back if/when I decide on anything, but it'll probably be later today. I've been hesitant about posting...

To be perfectly honest, I have no idea. The speakers on the laptop aren't working so I haven't been able to tune into bloomberg. Lately (and take this with a grain of salt), I've been noticing that forex is very cyclical. For example, it seems that I'll predict it to go down one night, and...

There were some good moves overnight. Since I only made four trades, I haven't followed all the pairs yet as I haven't had a chance to review everything. But, GBP/CHF had a monster move overnight. I got out a little early, but 105 pips over a few hours works just fine for me. :D In case...

Baruch, In addition to adjusting the trailing stop level, a couple other things you can try doing: 1) Scale into positions, or take a few smaller ones at the time you would have taken one larger one. You can then take profit on however many you want, and let the other(s) run unabated...

I really need to learn to start trusting myself. I let another 100-200 pips (at least... GBP/CHF had a huge spike this morning) slip away just on EUR/USD, GBP/CHF and USD/JPY. Ah well. I know I'll get there eventually.

I think it's best used in conjunction with DI+ and DI-; the three form the DMI in many charting packages. I don't know that I'd use it as a standalone, but I really like it in conjunction with the MACD and slow stochastics.

Looking at the various charts, it looks like the upward price action is losing momentum as shown by the MACD rolling over and the ADX (which is a measure of trend strength) dying; at the same time, DI+ is heading downwards while DI- is heading upwards, and it looks like there will be a cross...

To me, stops are a double edged sword. I'd personally prefer going without them, but until I get more of a cushion under me and more confidence in predicting direction, I'm using them; albeit very wide (frankly, stupid wide) stops. One possible way to setup the trailing stop is to take the...

There are a few I'm looking at, but the charts aren't really showing clear signals. Or, they hadn't when I made my potential list for the night which I'll update in a bit. The three I'm looking at right now: 1) long EUR/USD 2) short USD/JPY 3) short GBP/CHF There are a few other...

Thanks for the offer. I may start to do that. Time to get some lunch. Enjoy the rest of your day (night in Europe?). Steve

Good point, rax. I tend to beat myself up over missed profit opportunities when my prediction was right, but I couldn't see the trade through. Today's eur/usd, gbp/usd case in point. The good thing is I can let go of it easily, but it definitely pops up after I've realized things worked out...

I'm not so much afraid of losses, I don't think. When I was watching my positions before I went to bed, they got to -100 and I was fine; didn't phase me a bit. I think I have more of a problem risking a profit turning into a loss. Something for me to work on. I was half asleep when I closed...

I really need to learn to trust myself. I could have easily made a few hundred pips today. Ah well. The good thing is, there will be plenty of days to make the pips. Great trade on the eur/usd, rax. Seems like an hour or two after I decided to get out, the bottom fell out of it; same with...

Just pulled out of the USD/JPY and EUR/USD with respective gains of 32 and 15. As I thought, I got in too late; most of the move had already occured. I could have gotten out with a much more significant profit, but I was asleep. Ah well. A profit is a profit, I guess.