Forex Trading Signal 06/22/09
- Thread starter Crazy Cat
- Start date
SH*T Happens
I can understand the frustration, but does anyone actually just set it and forget it? I mean, if I was losing , then at some point I (We) ultimately control how the trade is managed. I just wonder sometimes how some folks expectations can be so high for a FREE signal. No one is perfect. It's even been said already that other signals are very profitable. So I would offer some advice.
Don't mismanage your trades- Set stop parameters and adhere to them people.
Don't set expectations so high for openly free news.
Most importantly, don't hold others responsible for your actions or lack there of. Sir pips is nice enough to tip his hand for free. But that's no reason to hold him responsible for a wrong call or a missed opportunity for which we ourselves are responsible for the entry and management of. Just saying....
I can understand the frustration, but does anyone actually just set it and forget it? I mean, if I was losing , then at some point I (We) ultimately control how the trade is managed. I just wonder sometimes how some folks expectations can be so high for a FREE signal. No one is perfect. It's even been said already that other signals are very profitable. So I would offer some advice.
Don't mismanage your trades- Set stop parameters and adhere to them people.
Don't set expectations so high for openly free news.
Most importantly, don't hold others responsible for your actions or lack there of. Sir pips is nice enough to tip his hand for free. But that's no reason to hold him responsible for a wrong call or a missed opportunity for which we ourselves are responsible for the entry and management of. Just saying....
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robstephen
Recruit
- Messages
- 5
Fake Out
What people need to look at going into the data is where the market is in relation to Daily Pivot Point, major support and resistance.
The EUR was under pressure through late asia and early europe, it broke through last weeks support that held a few times at 1.3885, traded down to 1.3840 ish before some short covering ahead of Daily S1 and the data.
All that happened post data is to stop a few people out that placed their stops above 85 before continuing the downtrend for the day.
Generally higher probability trades occur when you have the pivot point on your side, I generally find that if you look at some more med term timeframes, think about where if you had a position where your stop would be look to sell in that stop zone as it is where the weak longs or shorts are getting out.
I certainly would never risk 10% of my account on any trade and also before placing a trade know where your stop is and always have it loaded onto your platform so you are protected from mass slippage.
Rob
What people need to look at going into the data is where the market is in relation to Daily Pivot Point, major support and resistance.
The EUR was under pressure through late asia and early europe, it broke through last weeks support that held a few times at 1.3885, traded down to 1.3840 ish before some short covering ahead of Daily S1 and the data.
All that happened post data is to stop a few people out that placed their stops above 85 before continuing the downtrend for the day.
Generally higher probability trades occur when you have the pivot point on your side, I generally find that if you look at some more med term timeframes, think about where if you had a position where your stop would be look to sell in that stop zone as it is where the weak longs or shorts are getting out.
I certainly would never risk 10% of my account on any trade and also before placing a trade know where your stop is and always have it loaded onto your platform so you are protected from mass slippage.
Rob
rob your post is good logic but i think what where all shocked about is not even a quick spike up for a few seconds on the 0.9 trigger better than expected forecast. This was all but a sell on better than expected numbers i personally think that sirpipsalot even though he does a good job with these signals and videos maybe should have raised the trigger closer to 2 or 3 as trigger was a pure fakeout.
Nancy Cheah
Sergeant
- Messages
- 157
Why do people act as such?
The answer is extremely simple to me.
When you did the right thing, nobody remembers but when you did the right thing, the whole world doesn't forget.
The answer is extremely simple to me.
When you did the right thing, nobody remembers but when you did the right thing, the whole world doesn't forget.
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Sir Pipsalot
Former FPA Special Consultant
- Messages
- 511
Hey guys, sorry for the late reply... This was a case of the news completely failing. While news reaction has good probability behind it, every now and then it can completely fail and go the other way. In this case there were just some aggressive sellers of the Euro and they didn't care about the news. You have to be careful trading too hard on the news because no matter how much you make when you win, a tough loser can wipe out a lot of those profits. In this case, the initial negative reaction was a big shocker and kept us from taking an afterspike trade, but anyone who used the Secret News Weapon or got in long right away got burnt. In the future, if a news reaction completely goes the opposite way it's supposed to... that's a rare, powerful thing and it's best to stay out or get out sooner with a smaller loss than hold on and pray.