EUR.USD

[arco]

Just scalping a few pips while I'm relaxing, but this chart looks
interesting for longer term punters.



Regards -

arco - gently baking in 23 degrees while sipping a cool beer, and watching the waves from the balcony [8D]

[Xerof]

Travelling well at this early stage Arco.....

regards

Xerof

[miner]

Ok hammer on the 5min,and shooting star on USD/CHF 5 min,they go opp so worth a watch,slow though.

Cheers
miner

[roddy]

Hi Miner, went short just after the annoucement on eurozone data as follows

Euro Zone May Current Account data has disappointed as the deficit widened to
EUR 8.2Bln, against the expectations for a slight narrowing to EUR 7.0Bln from
the previous -EUR8.0BBln report.
Elsewhere, the third German state to report its CPI for July (Hesse) showed
monthly inflation rising by 0.5% with the annual rate at 1.9%, up from 1.8%.
This compares to national consensus CPI of 0.4% & 1.9% and should keep the
national data inline with consensus forecasts.
Was stopped out earlier in the day on the eur/us
at present not a lot happening

[miner]

Hi Roddy,yep like watching paint dry,the hourly's(three before this one) won over those 5min candles,sideways and messy tonight so just watching,might be time to hit the hay soon.

Good trader this one though.

Cheers
miner

[miner]

Nice trade if you were up at 2am last night,same with USD/JPY and USD/CHF but opp way,grass growing since though.

Cheers
Miner

[peat]

quote:Originally posted by miner

Nice trade if you were up at 2am last night,same with USD/JPY and USD/CHF but opp way,grass growing since though.

Cheers
Miner

yeh i was up.... got some of those CHF pips ! will look for signs of a breakout on the upside again tonite

[roddy]

well done Peat for catching some of those CHF pips.
i was short the EURO, instead of taking profit yesterday morning i added to the position and last night added more as it headed southward, only trouble being each time i added to the position i was placing larger amonuts on the trade,so what could have been a tidy profit turned into a loss, as it never followed through and i was stopped out!

[peat]

I've been reading that reminisces of a stock operator book that arco linked to and he (Jesse Livermore) reckoned (and i agree) that when you're pyramiding your position you should have very tight stops indeed, and only pyramid as it goes with you, i.e risking existing profits - do not add to a losing position.

[roddy]

thanks for the feed back Peat, I will try to implement having tighter stops when pyramiding,it hadnt actually occured to me as i normally place a 30 pip stop as standard practice , as can be judged from my previous post i wont be giving up my day job just yet. i am keen to learn my biggest problem at the moment is lack of discipline and reacting to quickly