kylefoley76

i can't pass this opportunity up. i can afford to lose a few hundred. i'm short the e/u for real now, risking $400, or about .9% of my account. my entry is 1.3570 risking 20 pips. i'll trade this impulsive wave and i'll demo the next corrective.

update: 14:53gmt, the e/u is really going in my favor but there's nothing to right home about because i'm trying to ride out the retrace. i've set to break even. i should be adding to my position but i don't want to deal with the stress....

i'm short the e/u at 1.3595 risking 12 pips but it's only a demo and have already set my stop loss to break even. i'm going to try to hold onto it for 300 pips. i know that sounds insanely ambitious but anyone who looks at a chart of the e/u knows that the odds are in my favor. if i do hit my target i will really suffer from some mixed emotions because it will only be fake money. maybe around 200 pips i'll close half of my position.

sorry for not posting charts but i'm very...

i'm not worried about losing money, i'm worried about my rank falling below forexer's rank. as long as my stats are better than forexer's i'm ok.

i'm considering going back to a demo for a while but on the other hand the euro is getting ready to go back into impulsive mode again where it's easy to make money. the saying is you make money during an impulsive and you lose money during a corrective. nothing could be more true in my case. i know about this phenomenon but didn't think...

i'm short the e/u but i'm only risking $50 so it doesn't really matter. i entered at 1.3615 around 18:50gmt risked 15 pips and have set my stop loss to break even. i have a limit set for 1.3570 which will be a 3 to 1. i think the e/u is due for a retracement up to around 1.3680 so that's why i have a target set.

update: i broke even, but i'm looking to get back into the trade soon even though i'm not too confident about it.

here's my prediction for the euro. (keep in mind that waves behave in an orthodox fashion 70% of the time, orthodox means: hh follows a hl follows a hh, or ll follows a lh follows a ll)



but we should also be prepared for this possibility



fun fact: andrew jackson ignored a supreme court...