10/27...Monday $$

took a beating today, lost 60 pips so far

I need to be more patient.  I had sold USD/JPY about an hour ago at 93.823, and I got out of it badly.  Now it's down to 93.360

Getting it back quick now, shorted USD/JPY at 93.337, now down to 92.930

Got back most of what I lost today, pheww!!  Gained close to 40 pips on that short, still down 20 pips, but I can recover that later.  It's my fault today, I actually went on tilt, which is BAD.  I was short USD/JPY, kept rising, so I went on tilt and went the other way, and of course compounded my losses.

 

Martie555, go to Forex.com for a practice account, I started that way as well, if you are trading in, say, USD/JPY, if you think USD will go up, you BUY, if you think USD will go down you SELL.  Also, the lingo is Buy = LONG, Sell = Short.

 

Try a practice account first though, and check out bucknuts threads, he's good at this, I'm not too bad but I'm still in a learning process here.  I've got a mini account where I deposited $1,000 (which is a good starting bank for this)  So far, I'm up about $50.  I know, not alot, but I've made a few bad trades.

Thanks, I have a practice acount and read back through most of Bucks posts.  I even read the Forex for dumbies that they emailed.  So the first currency is the one you expect to go up or down against the second listed currency?  And the first one listed is what your buying or selling? 

 

Every time I read through something it makes perfect sense and when I try it on the practice account it seems backwards and I get confused.  I can't believe I am this dumb.

The first currency listed is the BASE currency.  so in USD/JPY, the USD is the base currency there.  You are either buying or selling USD.  If you think the USD will rise against the JPY, you would click the BUY button on that pair.  If you think the JPY will increase in value over the USD, you would SELL USD. 

 

Hope this is making sense for you

Just a hint for you in the short term.  Look to buy USD, USD is going up against all the major currencies on the board, especially the EUR and JPY

USD/JPY might be another sell soon.  The low was below 91.80.  I'm thinking it can come close to, or even go below that. 

 

The JPY just keeps taking some severe ass beatings. It's amazing to see this currency was above 108 just a short time ago

well i got 1 lot of EUR/USD at 1.2358....on the buy im going to hold it for awhile....wish i had bought 2 id bail right now

 

i dont see much i like here right now,we are gettin a cross in EUR/GBP so i would sell here .7983 on the sell im not going to trade it as the lines may bounce off each other rather than cross.......if this keeps dropping it should turn into a buy here soon

wow.....id be out already just went down to .7966 on the buy

well im in and out of EUR/GBP they ran it back up to almost .8000 there right b4 the hr..i got in on the sell at .79856 on the sell...got out with $400 in about 1 min...i love the way they do this b4 the close of the hr...$$$$$$$

 

will be watching this pair for the bottom

EUR/USD is moving with some speed right now.......almost a 50 pip range in 10 min up and back down again....maybe a good sell point in the 1.2540s.just hit upper 30s and is now down 10-15 pips again.....

 

 

Iceman where you at.......is anybody here????

i still think EUR/GBP is gonna come down here its in the .7970s again...the cross still hasnt formed but the RSI is very bottom on the hr chart....going to sell 2 here at .79756....going for $400 again 12.7 pips

got to within 2 pips of my limit there and shot back up but im still up a bit..lets see what happens here

well its still on track for a cross,the 2 hr block will end at 4 so the picture will be more clear then....im down almost 24 pips though and with just over an hour to go i dont wont to be down 40 b4 i see its not even going to cross.....i will be on the button waiting to go +$ or average if it spikes here

buying 2 lots of EUR/USD..has dropped a ton here last hr........im down huge in GBP trade have yet to average.looking for 30-50 in EUR/USD trade 1.24724....

 up almost 50 in EUR/USD ......EUR/GBP coming to me as well.....just might make some $ 2night

1.2519 on the sell right now.........almost even

this should be a great night here but i didnt average.....id be +$ in that GBP trade now if i had averaged in the .8020s...sold for a loss just over $660....still holding EUR/USD....i hope i didnt hold too long was up almost 50 pips.now up only 25....i will be out shortly after i wipe out GBP trade shoulda jumped out at 1.2517 when i had the chance

Had to fix a bite after i sold out of EUR/USD thought for sure i messed up and held it too long got out at 1.2517 on the sell two pips off the high 40 mins ago.....im up almost $800........and had i followed my own rules and averaged when i was down i coulda got out about even in GBP and woulda had a $1600 night

 

To top it off  i almost bought EUR/GBP after i sold out,dont know why i didnt as it has confirmed its not going to cross....coulda bought in the .7990s now .8040s...but a good night anyhow

 

I will add in the one lot of EUR/USD when i sell out..im going to hold it for now looking to sell in the 1.30s-40s[Xmas]...so for the week we are right at +1100

 

see ya tomorrow night ill start a new thread

EUR/GBP cant keep it going keeps stalling in .8030s-40........back down to .8006 on the buy if this thing drops to where id be plus $$$$$$ again im gonna be pissed

.7990s