In the past 20 hours, EUR/USD has done a mini rocket up of 300+ pips from 1.2200 to now 1.2518.
Some attribute this to unwinding of Euro carry trades creating a mini short squeeze. If this continues, it could trigger further rises and morph into a Euro rally of sorts befitting the original...
Yeah, it is more meaningful, if posting positions, to do it at the time of entry allowing for maybe just some seconds, and really meaningless if allowing for some days LOL.
Here goes ... short EURUSD 1.3400 ... intradaytrading ...
Had been away. Can show a link to your "talking about Bolze"?
Edit >>
Had been following his mansion-building for a couple of years in his blog after following the exploits of TheBigCheese in ET (anybody remember his hilarious narrations? haha) , but had been away for some time.
Thanks...
Here's another house built by another trader ....
...in process .. http://tradersparadise.blogspot.com/2006/11/front-porchlets-get-r-done.html
... working ... http://tradersparadise.blogspot.com/2006/04/working-on-gable-endsand-workingand.html ... hint: some people may want to check his...
At the present 1.3636/38 level now, it is near the top of 30MIN CHART RANGE for the past 2 weeks ....... a breakout out of this range will yield good rewards for medium term breakout traders.
My last comment in this thread. Good luck!
Whatever the reason, at this point of time at 1.3586/88, today's trade is intraday down 148 pips.
The martingale piling up ought to be discarded from your system.
Drawdown is excessive, whatever capital you employ. Check Neke's thread.
edit >>...
Above post was meant for the reversal triggered today, relating to the previous trade posting below >>>
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Quote from JSSPMK:
-132 pips (-£1,056)
Now Long 1.3660 £16 per pip
(Reverse order 1.3440 £32 per...
Your trade reversal gets triggered by just a few pips at 1.3434/36 ... getting this sinking feeling of the chart being simply out to get you ... this surely can't be true ... but sure feels weird all the same ...
So what? People who talk of a 10% drawdown in a week as some blowup do not understand what neke's trading is all about.
The focus should be better placed on managing an error trade.
My experience has been that we are always better off closing out any error trade immediately we notice it...
Do not believe you or anybody else (which definitely includes myself :D ) can ever stop making mistakes. Believe you will make mistakes, except believe you can make less mistakes in this 30 days compared to previous.
Believe it would help if you force yourself to trade smaller size for the...
Oooopppsssss!!
A different projection done from another angle suggests the EURUSD's present down move is over and we may be looking for a reversal right ahead ... so much for projections as they can be done using different parameters or different tools ..... or I'm simply not up to scratch...
That's why they might even be quietly piggybacking on his trades, even if this sounds far fetched.
I think Ddaytrader has got many things right in his past few posts ... on the understanding that what I think does not matter much haha.
How about this little maths thing ... example here...
You may not believe me, but I really believe you. Also, his broker may even be riding piggyback on his trades. Not expecting consensus, expecting bricks on the way, so am now running quickly away to hide in bomb shelter. :D