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I see your point now. Initially, I thought you meant a single target price. Chinook

Sulong, In my trading the protective stop loss is predetermined before opening the position. However, profit target is flexible. If it looks like a trend is developing, I want to be able to ride it. I agree that people have different styles--there's no one fits all solution here. Chinook

Get used to being wrong at least 90% of the time! Let's say you have a "crystal ball" and predict good entry points 80% of the time. This is the easy part. When are you going to take profits? Will you turn your small profits into small losers? Or big winners into even bigger losers? I would...

The previous job was OK. I had lot of freedom but ultimately I wanted be my own boss and trade for myself. I can always go back to the corporate world but I can't imagine doing anything other than trading for now. Chinook

It was overall choppy week for me. I let some decent profits turn into small losers and got chopped around for couple days. But Friday saved the week, and overall ended up being a slightly up week. I guess I'm not going to celebrate it with a vertical of vintage Krug Champagne. But I'll treat...

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Hi guys, The other night, I dreamed my best friend in drag wearing purple wig and a bra. Meanwhile, his 65+ year old mother was trying to make love to me in front of him!!! I think I'm losing it! Chinook

Hi guys, Let's not fight let's make love :) LOL!!!! Chinook

I just made a quick calculation. The intraday margin for Euro FX futures is about 1:100--quite crazy too. Chinook

trade-ya1, I do think that I have an edge in tracking down the short-term trends. But Markets change. I also don't know how consistent I'll be in the future. Of course, luck helps us too. In a way, I see myself as gambling. It's OK as long as I don't lose control. Sometimes, indeed the...

I see what you're saying but our time frames are different. I trade with what I see as the trend in my time-frame. I have my opinion in the short time-frame. But I try not to get stubborn with it. My limited analysis is also showing EUR still in uptrend in larger time-frames. But in my...

Neal, My problem is that I don't like macroeconomics and I don't want to sort through fundamental data. That's why I don't position myself long-term sand I really have NO idea what will happen. In my short-term time frame, if I lose thrice 10 pip trades but win once 50 pip trade than I'm...

Hi Neal, You might be right about the long term trend of Euro/$. I'm just trying to catch small term swings. I was briefly long today too. I agree that I've been mostly short biased this week and missed some nice upside moves. Last week, i got in some nice long moves. Oil's going...

Sulong, I hope everything is back to normal. It sounds like you had a though week. Are you trading full-time? Chinook

I ended up shorting at 1.2318!

We only saw about lambda/2 sine curve before E/$ shot up. I might go long after it pulls back about 10-15 pips from 1.2320. Chinook Edit: I'll wait for a deeper pullback to ~1.2300.

Hi Sulong, The problem is that I don't have an "exact" recipe. I call all of the variables that I take into account "Fuzzy Blend". Anyway, first of all, I do some sort of intermarket analysis including bonds, GBP and lately oil. Sometimes these markets and Eurusd are correlated almost 1:1...

Well, it's been a great session for me so far and I feel like mumbling little bit more. I used to be quite stubborn about my trading decisions. I think the reason for that was the need to be right most of the time. For instance, I would get into a long trade and get stopped out. Without a good...

OK. Long trade worked well as planned. Now I have no idea what this'll do next. But I don't think it'll go up straight. If it'll rally, it might test the lows. Depending on the price action, I might get short or long. I have a feeling that we'll see a smooth sine curve with a 30 pips...

We got our 100 pip range so far. After being whipped once for 10 pips earlier in the evening for my short trade, the second short trade (bracketed) collected profits at 1.23 while asleep with about +60 pips profits. Now I set up a long trade from 1.2280 but I'll take profits at 1.2300 if it gets...