Jump to content
The Twitter Feeds are now back on the Platform ×

EUR/USD idea


Recommended Posts

Guest oilfxpro

There  price rejected with double top  on eur usd  target 1.1965. Re-entered short


I don't trade fx  like this on technical basis, technical analysis is unreliable.

Link to comment

 , no you are not missing anything, it was just another silly 'punt' against the trend with ridiculous risk. What happens is you spot a non existent pattern amongst the noise on a short-term time frame that completely ignores the long-term thrust, you draw a line that will trigger the trade and enter. Then you think about stop loss and see the prior high/low is 60 tick away so you say 'well that's trading accept it'. Ha.


This is not how counter trend traders work, they have a level where they expect price to reverse and as soon as price reverses at that level they enter, the stop is small, it's right there, they can practically reach down and touch it, it's usually just a few pip. If they are wrong they lose a few pip but if they are right the reward potential is huge, so they can be wrong 70% of the time and still be profitable.


That was not this trade, having got in at a level that seeming needed a 60 pip stop price immediately reversed against you, the bowels start to go loose, so then having put in a 60 pip stop you think err and bail out at minus 14.


This was actually the right thing to do after making a stupid entry, if a line was crossed to trigger a trade then if that line is crossed back over the validity of the trade is gone so just get out. So the 60 pip stop was fantasy, the proper stop was just behind the 'important' level that triggered the trade which wasn't actually important at all, not to any other trader on any time frame.




Link to comment
Guest oilfxpro



I sold it because the price action twice showed a rejection and the immediate trend line  was broken.Once again it proves technical analysis  and price action does produce profit.


The other reason was unfulfilled emotions, the pretenders who don't trade always claim there is no psychology involved in trading, I had unfulfilled emotions to short sell eur/usd.




On casey's advice I started using lagging indicators 




Then I should have ignored all t/a , because it works in hindsight after the event.Now you guys can all be clever about it  after the event.I know all about hindsight analysis  and hindsight education.The trading forums are full of hindsight analysts.


Why hindsight trading is so easy compared to real-time trading









Link to comment
Guest oilfxpro



Hindsight analysis is very easy, real traders when they see an opportunity, they just place the trade.


Forum ***** on trade2win forum shows hindsight results, he is very profitable with hindsight results after the trades.




On forums you get pretenders, I am a trader on a live account.Real trading involves making decisions, I made and I lost.


BTW my account is up 200% this week so far  , trading the indices.



trader scammer.gif


Link to comment
Guest oilfxpro

The euro usd is bullish based on latest price action


I have shorted the dax in place of trading eur us


It has made 2 very bullish up bars , so it is a buy until it breaks 11900


euro pa.jpgeuro pa2.jpg

Link to comment


This topic is now archived and is closed to further replies.

  • General Statistics

    • Total Topics
    • Total Posts
    • Total Members
    • Most Online
      10/06/21 10:53

    Newest Member
    Joined 31/03/23 21:31
  • Posts

    • Hello everyone, i am looking to hold shares long term Apple Tesla in a spreadbetting account just wounded if there is a calculation example Tesla $195.00 1 share = ? ponds per point spread bet. Thanks for any help
    • #USDCAD: Time For PullbackUSDCAD reached a key level.Testing that, the price broke and closed above the resistance line of a falling wedge pattern.I expect a pullback now.Goals: 1.355 / 1.3577  
    • Charting the Markets: 31 March The FTSE 100, DAX 40 and Nasdaq 100 surge higher on a positive outlook as EUR/USD, GBP/USD pause their ascents while USD/JPY continues to rise as the greenback appreciates. WTI remains capped by resistance, gold forms a technical triangle as Robusta coffee trades near six-month highs.   Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Friday 31 March 2023                 This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.
  • Create New...