Comments on: Forex Signals – EUR/USD Week of Mixed Signals

By: dejavu

dejavu — Sun, 14 Mar 2010 20:22:04 +0000

Hi Mark,
I’m one of those you call ‘silent majority’ but I’ve decided to break my silence.Really like what you are doing.My question-Does it make sense to take a trade in the opposite direction instead of using a SL e.g I take a sell @ 1.36820 and put a pending buy @ 1.37000 instead of a SL.if 1.37000 is reached I take some pips and wait for the decline

By: Matthew

Matthew — Sun, 14 Mar 2010 05:25:30 +0000

Cool, Thank you. I understand.:)

By: piphut

piphut — Sun, 14 Mar 2010 04:59:51 +0000

short squeeze is when a bunch of people are short but, when markets are thin or for whatever reason people start buying, the price starts to go up. This creates a cascade effect where the short’s stop losses get triggered (which in essence is a buy), some people do a cover and switch (and go long), while breakout traders may go long now that resistance is broken. You get a runaway effect where all those ingredients squeeze those holding the shorts and push the price up.

By: Matthew

Matthew — Sun, 14 Mar 2010 04:28:01 +0000

Mark, I have a question that maybe you can answer for me.. In reading around the net today. I have been reading the phrases “short squeeze” & “shakeout”. Does this mean the market is trying to rid itself of the bears so it can head up,, or something else.. I will continue to find the answer but I figure you can answer it to where I can understand..:)
Thank you..

Matthew

By: pierre

pierre — Sat, 13 Mar 2010 12:52:32 +0000

yes you’r right me i am beginner and this is new info for me to lear thanks for it. some times i look to direction of pair i am saying that even if it go up it will be back soon or later that why i let it without sl. but yes like you say i can not win some without lose some other. THis is forex there is usuly risk
good day

By: Harry

Harry — Sat, 13 Mar 2010 11:38:41 +0000

HI PEOPLE!!Just a query to all of you fellow traders:Considering that there is no single technical indicator for the ‘best trade’to follow, i have been using RSI and STOCHASTIC on 2hr charts. It has yielded positive results but with some scary moments inbetween. How reliable are the FIB. charts and are they simply effective because of the herd mentality?

By: Danny Tan ( Malaysia )

Danny Tan ( Malaysia ) — Sat, 13 Mar 2010 03:02:44 +0000

Hi Pierre,

I myself is an amateur trader. My two cents here is that setting and limiting your losses (Stop Loss) to only a few % of your account is always the first thing you should do before any trade to ensure a long term trading profile. It is always nice to win huge pips but from what I see it after this half a year of trading, unless you are disciplined enough, huge profits could easily become huge loss. The only way to succeed in Forex would be to learn how to not hurt your account and lose everything in a trade. Trading without a Stop Loss could be a disaster.

By: pierre

pierre — Sat, 13 Mar 2010 00:14:28 +0000

for me you are professional continue like this

By: pierre

pierre — Sat, 13 Mar 2010 00:12:45 +0000

hi mark

in fact i left trade open without sl. i just put target at 1.3666 (eur/usd)short opened at 1.3683. now the price is closed at 1.3767 so i think it will not begin monda by going up more than this. are you agree with me mr mark?
i interpreted a bad signal that why i made this error

By: piphut

piphut — Fri, 12 Mar 2010 22:01:39 +0000

Yinka, the trading journal is all credit to you. My comments may have been the spark to get you started but you are the one has the discipline to wake up every day and keep it going. Congrats