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Thanks for the input Old school. Took a couple of Days off to clear my head. I was able to come to an important realization. I began trading like I could pick the top and bottom of anything. Truth is no one can. I am sure this is a classic mistake made by newbies like myself. I have...

Man I am having a really bad day. Like a fool I hold and finally i get lucky and the market comes back lowering my loss dramatically. I look at the what happened today and i think okay it would be smart to place a sell stop at 4310. The market comes down just enough to stop me in and then...

I watch the 5 and the 15. When I tell you I am getting clobbered today, I mean clobbered. I am being stupid and staying in a trade that is clearly bad because my gut tells me this thing has got to reverse. I've learned so much in the last couple of days, and I did not apply it well...

I am dying right now. Made a dcent trade early, but got caught long again at 4326 and 4323. should have been more patient. I keep thinking it should go back up even though it broke below 4315. Gotta learn to be more disciplined. What a bummer. Shouldn't have done anything until...

Got ya. It is more from the stand point of being down 3 pips out the gate. The $ figure itself is not the issue. It is just that you've got to overcome 3 pips each time you trade.

My day today was overall a good day. I opened up rough. I got caught in a buy at 4222 and got stopped out at 4210. thinking I was smart I had another sell stop at 4210 (with my stop loss) thinking that if it broke 4215 it would go to 4185. Ofcourse it went right back up to the 4220's...

With the latest economic data one has a hard time justifying going short the Euro. However I recognize that with trading there is more than meets the eye. I am interested in getting the opinion of other traders regarding what, if any effect this data will have on the Euro/USD. Also...

Sounds good. I'll be on it in the morning. Quick question. The Platform i am using charges 3 pips. Is there anything better out there?

Bought in at 4217and rode to the 4260's. moved my stop up to 4248 but the and got clipped by the market. bought in again at 4252 but got impatient and closed out after just 1 pip to the good. Thought about buying one of the small dips but decided to steer clear because I couldn't see another...

assuming the market breaks through 4150 to the down side. would I be thinking correctly if I sold at around 4144-4140 and then set my target at 4115? I am assuming It would be a smart strategy to use a trailing stop if the market stops you out you watch and wait for the next wave...

By the way..... don't you have to go long now?

I see exactly what your saying DownRiver. I was looking for too much. My problem is I can't figure out why it "battles" at 1.4285 Yesterday, and then flat out blows through 1.4285 today. Is it the Volume that I need to be paying attention to? Also Entry and Exit is still really tough...

Piezoe, Thank you for the your advice. I feel so fortunate to have found this site. With my research , and individuals like yourself and Downrivertrader here to straighten me out I am as confident as I have ever been that I can learn how to trade the right way. So here is my attempt...

Downrivertrader, I did what you showed me the other night. Unbelievable!! I watched the "battle" yesterday at 1.4285 and then even I was able to say "if it breaks this it is going to drop" and placed a sell stop on my demo account. I took a small profit and then watched it drop an hold...

Sorry to sound so wide eyed fellas, but I really want to develop a solid and disciplined trading strategy, so this is a huge help for me. Can I ask how do you tell with confidence where support or resistance is? I see areas that look like support or resistance to me that don't appear to...

As I am sure you can tell I am new to trading. I am in the process of better understanding how to read technicals. I have seen some really interesting displays while reading this thread. Any books or sites that anyone here would recommend? I am really interested in learning what...