I would get flat here at 1.29-1291. Not to say it won't trade to 1.282, but you've added. Take the monies.
eur/usd major brokerages sending "don't panic notices" I think all that's going to do is set off a panic run... if it moves much more will look for a better time to dive in... maybe late tonight or morning... I got my finger on the kill switch though... was really hoping to see her run down farther so I had more breathing room as it stayed under the 1.290 ... candle definately didn't thrill me and the heikin inside the heikin is always a pain... Thanks Bro for adding some perspective wdbaker xclr8tr atticus wannabee
eur/usd 5, 15 and 30 fat red, hourly looking weak so will hopefully follow wdbaker xclr8tr atticus wannabee
If we can set aside our irritation with each other, Atticus: I love these big moves down like this, which I obviously missed entirely since it opened this way and I was flat, because more often than not for the next several hours its just going to bounce up and down along the bottom. I've already pulled more than 130pips out of this bottom bouncing. I'm playing with small numbers, by the way, just a mini lot (10,000).
I think what atticus is saying is that I doubled up on a position at the bottom and it could get stripped off at twice the speed i put it on... Not only that I'm all in with a large amount and could get devastated in a quick move if not careful I've just been holding all in, not flipping or anything and I have to admit his decision making faculties are far above mine... I'm just tempting fate and getting lucky... So warning to all I guess... I think what your doing is smart and if it's working and your not all in then a good bet... Didn't know the two of you had issues lol wdbaker xclr8tr atticus wannabee
You're definately taking your chances, wdbaker. However, Europe isn't awake yet. Hard to know where this is headed. I'll be interested to see where this goes over the next 12 hours. By the way, I have been doing a lot of the "doubling up/down" over the last few weeks, and it has paid off nicely. So, you may be doing the right thing.
eur/usd out here 1.2898, As an ex poker player, you know when the adrenalin starts to rush that it's time to step out and get perspective... hands are trembling lol going to grab something to eat and be back soon wdbaker xclr8tr atticus wannabee
This is not the way to trade correctly... I agree and Europe will be there when I get back from eating a nice steak... Doubling up/down is no way to trade with out a positive edge or one you've legged into... even then probably not smart... with fx the leverage is huge and a wipe out for the regular guy can happen in seconds... that includes me... I did point all this out when I started this thread... so have fun, I know I will, but will go a bit lighter in to my next trades and roll up wins when reasonable so I'm not using my money but OPM if you will... still dangerous as hell no getting around it. wdbaker xclr8tr atticus wannabee
OPM? Good idea. I finally recovered all of my losses from 2012, pulled it out of the account, and now I am trading with pure profit. When I was doubling up/down, I was working with micro lots (1000) (u). I never owned more than a mini lot (10,000) at any given time. Usually went in with 2u to 3u at any given time so that a pip never cost me more than $1 when fully loaded. As I said, I am working with small numbers. I found it very effective to add 2u to 3u at a time, and then peeled each off as they became profitable. I'd then load back up again, over and over again until finally the first 2u to 3u, would suddenly go in my favour, and if it didn't, well, so what, the sum of the smaller wins was far greater than the one big loss. By the way, I don't know what your margin requirement is, but I am limited to a minimum of 3% on my account. i.e a mini lot requires about a $390 deposit. So, the leverage isn't excessive when you consider that a pip costs me at most $1. My account wouldn't have been blown out if I had been fully loaded over the weekend. I would have only touched one third of the deposit requirement.