EUR/USD Trade Plans Discussion

[Ricky Tse]

Here was my trade plan for EUR/USD based on Joe's trade alert on May 8, 2009.

Plan A: Buy Break 1.3404 and clear 1.3438
Trade took off from NFP news
Currency Pair: EUR/USD
Entry: 1.3404 Buy
SL: 1.3364 40 pips -- 1.3364 Key; 5 pips below 1.3369
T1: 1.3444 40 pips -- 1 to 1 R/R
T2: 1.3484 80 pips -- 4 pips above 1.3480 Bias; 3 pips below 1.3487 R1
BE+1: 1.3405
R/R ratio: 2 to 1
(gravy train) (monthly goal)

Plan B: Sell Break of 1.3290 and clear 1.3268
Not Triggered
Currency Pair: EUR/USD
Entry: 1.3290 Sell
SL: 1.3315 25 pips -- 4 pips above 1.3311 Key
T1: 1.3265 25 pips -- 3 pips below 1.3268 Bias
T2: 1.3215 75 pips -- 4 pips below 1.3219 Key and 3 pips above 1.3212 SM Lo
BE+1: 1.3289
R/R ratio: 3 to 1
(gravy train) (monthly goal)

Thanks,
Ricky - E, P, S, Y

[Ricky Tse]

Based on Joe's trade alert, here's my trade plan for EUR/USD on May 11. Please comment.

Plan A: Buy Break 1.3705 and clear 1.3735

Currency Pair: EUR/USD
Entry: 1.3705 Buy -- 1.3705 Key
SL: 1.3670 35 pips -- 2 pips below 1.3672 Bias
T1: 1.3735 30 pips -- clear 1.3735; 6 pips below 1.3741 R1
T2: 1.3795 90 pips -- 1 pip below 1.3796 M4
BE+1: 1.3706
R/R ratio: 2.571428571 to 1
(gravy train) (monthly goal)

Plan B: Sell Break of 1.3584 and clear 1.3550

Currency Pair: EUR/USD
Entry: 1.3584 Sell -- 1.3584 Key
SL: 1.3609 25 pips -- 9 pips above 1.3600
T1: 1.3554 30 pips -- 4 pips above 1.3550 (a number to be cleared)
T2: 1.3534 50 pips -- 7 pips below 1.3541 PP; 7 pips above 1.3527 Key
BE+1: 1.3583
R/R ratio: 2 to 1
(gravy train) (monthly goal)

Plan C: Watch bounces at 1.3725/40

Currency Pair: EUR/USD
Entry: 1.3725 Sell --
SL: 1.3750 25 pips -- 9 pips above 1.3741 R1
T1: 1.3700 25 pips -- 1 to 1 R/R
T2: 1.3675 50 pips -- 3 pips above 1.3672 Bias
BE+1: 1.3724
R/R ratio: 2 to 1
(gravy train) (monthly goal)

Plan D: Watch bounces at 1.3500/1.3487

Currency Pair: EUR/USD
Entry: 1.3487 Buy -- 1.3487 M2
SL: 1.3467 20 pips -- 13 pips below 1.3480 Bias
T1: 1.3517 30 pips -- 10 pips below 1.3527 Key
T2: 1.3537 50 pips -- 4 pips below 1.3541 PP
BE+1: 1.3488
R/R ratio: 2.5 to 1
(gravy train) (monthly goal)

Thanks,
Ricky - E, P, S, Y

Plan A, C and D - not triggered
Plan B - Currently trade around this 1.3584 Key - not hitting T1 or SL

[Ricky Tse]

Currently EUR/USD is channeling around 1.3584 Key in the Asian session. I have prepared trade plan for EUR/USD based on Joe's alert.

Plan A: Buy Break 1.3650 and clear 1.3690

Currency Pair: EUR/USD
Entry: 1.3650 Buy -- 4 pips above 1.3646 R1
SL: 1.3620 30 pips -- 4 pips below 1.3624 M3
T1: 1.3675 25 pips -- 3 pips above 1.3672 Bias
T2: 1.3710 60 pips -- 5 pips above 1.3705 Key; 1 pip below 1.3711 R2
BE+1: 1.3651
R/R ratio: 2 to 1
(gravy train) (monthly goal)

Plan B: Sell Break of 1.3527 and clear 1.3500

Currency Pair: EUR/USD
Entry: 1.3527 Sell -- 1.3527 Key
SL: 1.3557 30 pips -- 1.3557 ST21 Lo
T1: 1.3500 27 pips -- 1.3500 Key
T2: 1.3467 60 pips -- 13 pips below 1.3480 Bias (may be hard to get passed... we will see)
BE+1: 1.3526
R/R ratio: 2 to 1
(gravy train) (monthly goal)

Thanks,
Ricky - E, P, S, Y

[dcantin]

Hi,
Here is what I have done since last night.
These trades were based on the OU report for Mon 5/11
Buy break of 1.3650 and clear 1.3690
Entry Buy 1.3525
SL 1.3602
TP1 1.3677
TP2 1.3702
BE +1 1.3603
R:R 2:1
Goal for the month 200 pips (-1155 for May) ouch

I hit TP1 and TP2 on the above and got stopped out of the gravy train.

Sell Break of 1.3527 and clear 1.3500
Entry sell 1.3525
SL 1.3577
TP1 1.3500
TP2 1.3450
BE +1 1.3576
R:R 2:1

My current trade for Eur/USD
Buy 1.3655
SL 1.3605 (M2)
TP1 1.3680
TP2 1.3705 (key #)
R:R 2:1

One thing I did on a past trade was put in the wrong stop loss and I lost 450 pips before I realized I had one number off. Good lesson.

Thanks,
Denise

R:R 2:1

[dcantin]

Hi,
Well I'm doing a good job of blowing through my demo account. I don't think my trading strategy is working.

Trade pLan for today.
I already have a buy for the E/$ in process and have gotten TP1.

After reviewing new report for May 13 I believe it is a M1 -M3 day and price is curently at 1.3605 between the Pivot point and M2.

Plan: Sell E/$ at 1.3654 2 pips below M3
SL 1.3704
TP1 1.3629 (just above pivot)
TP2 1.3604
GT BE +1 1.3703
Goal 200 pips currently -1414 ouch this jurts
R:R 2: Is this correct?

Joe are you out there? Please comment. I am trying to fish on my own and develop my own plans.
I will starve at this rate. Yes, I have lost weight.

[sarath]

Hi

Are you holding on the Sell position? Did your Sale order execute? Nice move downward ..

sarath

E, P, CAD. JPY

[Ricky Tse]

I took a short break for the last few days from trading but here's what I have for EUR/USD based on Joe's recommendation for May 15.

Plan B: Sell Break 3561 and clear 3531

Currency Pair: EUR/USD
Entry: 1.3561 Sell --
SL: 1.3591 30 pips -- 6 pips above 1.3584 Key
T1: 1.3531 30 pips -- 4 pips above 1.3527 Key
T2: 1.3501 60 pips -- 1 pip above 1.3500 Key
BE+1: 1.3560
R/R ratio: 2 to 1
(gravy train) (monthly goal)

"Plan C: If pair goes to 3560/30 area and reverses
Buy Break of 1.3605 and clear 1.3635"

Currency Pair: EUR/USD
Entry: 1.3605 Buy --
SL: 1.3580 25 pips -- 4 pips below 1.3584 Key
T1: 1.3635 30 pips -- 5 pips above 1.3630 Key; 10 pips above 1.3625 PP
T2: 1.3680 75 pips -- 8 pips above 1.3672 Bias
BE+1: 1.3606
R/R ratio: 3 to 1
(gravy train) (monthly goal)

Thanks,
Ricky - E, P, S, Y

P.S. I am watching this pair for a potential break down below 1.3520 --> recent swing lows on one hour chart
On one hour chart, it has the look of head and shoulder and we may have a completion of the formation early next week to get back down to 1.3370 and 1.3250.
Sunil's fib lessons will be a good exercise for finding the targets.

[sarath]

EUR /USD Plan for Sunday


I went through the Sunday report from Joe for EUR/USD and like the potential sale recommendation. So, here is my plan:

Sell:

Around 1.3455

Stop Loss: 1.3490

TP1: 1.3425 (around S1)

TP2: 1.3390 (around M1)

TP3: 1.3350 (initial level - to be monitored)

**Update** TP1 got and the pair started moving up***

Buy:

To be decided as the Asia session progresses. There is a potential for the pair to move up from Sunday's close or continue the decline. I would buy - may be much earlier than the 1.3600 level recommended in the report if the price starts moving up.

Buy 1.3540 (above Pivot)
SL: 1.3480
TP1: 1.3565 (below M3)
TP2: 1.3600 (around R1)
TP3: 1.3645 (less than Friday's high, though if there is momentum buying, let it ride)

If the pair were to move up and fall down below 1.3460, Sell. The number 1.3455 / 1.3475 has good validity for at least couple of sessions


sarath

E, P, CAD, JPY

[dcantin]

Pair EUR/USD
buy a break of M2 1.3478 this should be a M1-M3 day

Buy 1.3478
SL 1.3428 (-50)
TP1 1.3503
TP2 1.3528
GT BE+1= 1.3479
Goal 200 pips ( I was at -1043 before this trade)

I hit TP1 and then I saw things reversing direction so
I closed both other lots and +15

Sell at S1 (1.3421) and clear M1 1.3384
Current price 1.3445
Sell 1.3421
SL 1.3471
TP1 1.3396
TP2 1.3371
GT
BE+1= 1.3420
I trade Eur/USD

Thanks,
Denise

[Ricky Tse]

As Joe has suggested last night, I pushed the button (actually setup BUY STOP order) for "Buy Break 1.3600 and clear 1.3630". Here was my trade plan.

Currency Pair: EUR/USD
Entry: 1.3600 Buy --
SL: 1.3570 30 pips --
T1: 1.3630 30 pips --
T2: 1.3660 60 pips --
BE+1: 1.3601
R/R ratio: 2 to 1

It got triggered around London open and got to T1 before it came back down.

The same plan got set up and triggered again in the morning right around London close. This time, it got to T2 before coming back down. It looks like 1.3672 Bias number is holding as a resistance for today.

Regards,
Ricky - EUR/USD

[Ricky Tse]

Last night on the webinar, Joe mentioned that if EUR/USD breaks 1.3764, all system should be go. The next big resistance level is 1.3950. I am excited to see how it has played out today when this pair moves up along with GBP/USD in the American session.

Hope everyone has made some pips whether in live or demo accounts today.

Regards,
Ricky - EUR/USD

[dcantin]

These were my plans for yesterday and today.
After class last night I revewed and renewed my plans.

Stalk: EUR/USD
Plan Buy 1.3600
SL 1.3550
TP1 1.3625
TP2 1.3650
GT
BE+1 =1.3601

This trade hit TP1 last night and then got stopped out on the next 2 lots.

Next plan last night was
Buy 1.3700
SL 1.3650
TP1 1.3725
TP2 1.3750
GT
BE+1=1.3701
Goal 200

This trade hit tp1 and 2 for +75 and the GT is at +62 with a sl of 1.3701.

My sell plan
sell E/U at 1.3577
SL 1.3627
TP1 1.3552
TP2 1.3527
GT
BE+1= 1.3576
goal 200

Thanks
Denise

[dcantin]

The EUR/USD is in a strong up move and I have a GT going but I would like to set up another buy plan.

I would probably not do this in a live account but since this is a demo I would like to see what happens.

Buy 1.3826
SL 1.3775
TP1 1.3850
TP2 1.3876
BE+1= 1.3827
GT
R:R 1:1
goal 200 pips

Denise

[dcantin]

My plan for Currency pair EUR/USD
Entry Buy 1.4051
SL 1.4001
TP1 1.4076
TP2 1.5001
BE+1=1.4052
R:R 1:1
GT
This order was not trigerred.

Sell 1.3941
SL 1.3990
TP1 1.3915
TP2 1.3890
GT
BE+1=1.3939
R:R 1:1
This order hit TP1 AND 2 and my GT got closed out by the broker I think because of the new hedge ruling.

current plan for 5/27
Buy 1.3907
SL 1.3857
TP1 1.3932
TP2 1.3957
GT
BE+1= 1.3908
R:R 1:1

Sell EUR/USD 1.3792
SL 1.3842
TP1 1.3767
TP2 1.3742
GT
BE+1= 1.3841
R:R 1:1

I want to be a swing trader and do longer term trades.
Denise

[dcantin]

I stalk the E/U and after class last night Joe asked us to observe the aberration between the EUR/USD and the GBP/USD which usually move in the same direction.
EUR/USD is having trouble breaking the 1.4002 (M4).
I checked the EUR/GBP chart and see that it has been in a downtrend since March. The GBP/USD is still moving up a lot stronger than the EUR/USD which is at least now moving upward again.

Our trade for buying the EUR/USD has it TP1 and TP2
and the GT is now running. The current price is 1.3969 which has broken out of the M1-M3 range expected for today and is now past R1 heading to M4 (1.4002). Let's see if it can break 1.4000 today.

[Ricky Tse]

Denise,

Nice. Thanks for the updates. 1.4000 psychological triple 0s level has been holding up well in the last few sessions. 1.4050 is the SML High and it looks like a target to be re-tested today. The price of EUR/USD right now is at 1.3985 (May 28 - 10:45 p.m. EST) which is not too far from there.

Regards,
Ricky - E, S

[ForexJoe]

1.4184 is next strong resistance sports and trading fans

1.4911 will indicate reversal towards 1.6000

Stay the Course

Thanks for effort

Forex Joe

[dcantin]

On 6/1 my buy plan for EU/USD which is the pair I stalk
triggered.
I hit TP1 and TP2 and I'm now in a GT and have moved my
stop loss from 1.4179 to 1.4210 (BE+1) and now to 1.4250.

My R:R for this trade is 2:1

After class tonight I placed the following:
Buy 1.4402
SL 1.4372
TP1 1.4432
TP2 1.4462
GT BE+1= 1.4403
R:R 2:1

Sell 1.4281
SL 1.4311
TP1 1.4251
TP2 1.4221
GT
BE+1= 1.4280
R:R 2:1
Later.
Denise

[dcantin]

Pair EUR/USD
Entry Sell @1.3967
SL 1.3986
TP 1 - 1.3926
TP2 - 1.3895
GT BE+1= 1.3958
R:R ratio 2:1

This trade triggered TP1 and 2 and now has a GT running and I have moved stop loss to 1.3926.

Entry Buy @1.4133
SL 1.4103
TP1 - 1.4163
TP2 - 1.4193
GT BE+1= 1.4134
R:R 2:1

This trade has not triggered.

Current price is 1.3785
Today is an M1-M3 day (1.3879- 1.4072).

"It appears that the comments from Russia at the G20 meeting about the use of US$ as reserve currency helped to strengthen the dollar today. This pair is trending down at the moment and there may be a bearish head and shoulder formation on the daily chart were we broke through the neck at 1.3813."
(This was per FXDD comentary) I'm not that good yet just thought I would pass it on.

We are near the ST21 close of 1.3800 which is the low that we were at last monday. 1.3804 was the SM low last monday.

Denise

[ForexJoe]

Greetings,

EUR/USD trade executed Thursday June 11 has been stopped out of Tp3 with 150 pip profit at 3900

those taking 3901 buy have another position that was taken out first time around going to 3921 and bouncing down to 3880/3867 area.

Please use hourly chart as point of reference if you have full time position and unable to manger trade on consistent basis

the hourly chart shows how pair bounced off 3921/3901 area first time and re testing in US session

It could bounce again and find a top next 3921/3930 area

This is superb learning tool after racing up positive pips in previous trade closing at 3900

Folks, if you get stopped out 2 times or 3 times or more in practice regimen account at certain area.

Congratulations

Awesome job.... Learn how pair reacts when stalling at resistance or support level before next move

I once had a pair bounce me around 15 times in a week and I was ready to scream...

After my pity party, I went to work and began the process of learning how to trade oscillating channels

using rules of engagement that I would be wrong ONCE

Seems my frustration turned to fascination after overcoming my initial pain
of failure for several decisions

Think about this for rest of day to see what is hidden in plain sight

enjoy your day

[dcantin]

Hi,
On 6/22 the following order to sell the EUR/USD for an
Entry of 1.3941 with
SL of 1.3971
TP1 of 1.3911
TP2 of 1.3881 and
BE+1= 1.3940
R:R 2:1
Goal 200 current -551
This order was stopped out for a loss of 90 pips

Buy order on 6/22 for 1.4154 was not triggered.

Entry on 6/23
Sell E/U at 1.4045
SL 1.4070
TP1 1.4020
TP2 1.3975
BE+1= 1.4044
R:R 2:1
Goal 200 : -551
Order hit TP1 for 25 pips and last 2 were stopped out for a 50 pip loss.

Buy order for Entry at 1.4154 was again not triggered.

6/24
Entry :Sell 1.3922 SL 1.3952
TP1 1.3892 and TP2 1.3862
BE+1= 1.3921
R:R 2:1
order was stopped out for a loss of 90 pips.

6/25
Buy Entry: 1.4070 SL 1.4040
TP1 1.4100 and TP2 1.4130
BE+1= 1.4071
R:R 2:1
Goal 200 I'm not even close.

Sell plan for Entry at 1.3888 SL 1.3918
TP1 1.3858 and TP2 1.3828
BE+1=1.3887
R:R 2:1
Goal 200 Let's not go there.

Neither of the 2 above last orders has been triggered.

I have been having a really bad month.
Demo acc't -789 pips and live -520 pips

I have also been putting in the orders on all the other pairs and on a good note I have a gravy train going for
GBP/USD on a sell order at 1.6375.

I believe I need to do a better job on timing entries.
I don't think that just placing all these orders when they come in is adequate. I have been late a few times placing the orders from when they are posted.
Joe, can you give me any ideas on better timing?

Have a great weekend.
Denise Cantin
Stalk EUR/USD

[ForexJoe]

Greetings Denise,

I will attempt to offer suggestions, comments and questions below using brackets
==== ====== Let’s get started and thanks for this awesome post to help masses….

===Joe=======

====Opening comments, seems some traders are having issues with TP1, TP2 on meta traders. Those following PM - position manager and Weekly/Daily Reports, Please have your profit areas in place for every trade. NEVER, ever place a LIVE trade unless you have the TP1 and TP2 areas in advance to protect trade==================


Hi,
On 6/22 the following order to sell the EUR/USD for an
Entry of 1.3941 with
SL of 1.3971
TP1 of 1.3911
TP2 of 1.3881 and
BE+1= 1.3940
R:R 2:1
Goal 200 current -551
This order was stopped out for a loss of 90 pips

========Denise, 6/22 was Monday’s session and the Daily Report offered for Monday evening going into Tuesday afternoon

Buy Break 3911 and clear 3941
Sell Break 3792 and clear 3762

So I’m wondering your thought process on above trade and at what time the entry occurred? Please review your mindset when placing trade and when during the session, it was executed to enhance me to help further… Thanks=========

-------------------------------------------------------------------------

Entry on 6/23
Sell E/U at 1.4045
SL 1.4070
TP1 1.4020
TP2 1.3975
BE+1= 1.4044
R:R 2:1
Goal 200 : -551
Order hit TP1 for 25 pips and last 2 were stopped out for a 50 pip loss.
=====Denise, and to all traders, in the future, when listing trades do we me a HUGE favor, let me know if trade is Daily or Weekly Report recommendation - or if trade is from PM - position manager or if trade is from your effort in LIVE market conditions, this will fast track helping me understand and being able to comment===

Denise, the above trade seems to be from PM - position manager pending trade that executed and instead of hitting TP1 for 25 pips and having trade close at BE+1 with 2 more pips for overall positive total of 27 pips.

You let trade run without having triggers in place. The pair move to low of 4001 and reversed closing trade and going to high of 4070. The pair then hung around the 4045 area later in session and took off - some students live in markets executed trade in practice regimen account and were able to TP1, TP2 and trade was still open going into last night’s session - The high of current session is 4013 and those trading later are still in that trade.

That is how timing effects markets as offered in class many times.

Denise, instead of having 27 pip profit on this trade - you have 25 pips and then allowed the reversal to take other 2 lots out at loss of 25 pips each for overall total of -50 pips

-50 - +25 = -25 pips for trade that should of netted you +27 in profit.

Denise that is a 52 pip turnaround…

Could you please share way you let trade run the above course instead of following protocol?

Don’t worry others do the same… It is okay. You just need to make a fundamental choice that we work together to insure you stop this process. ==========================

6/24
Entry :Sell 1.3922 SL 1.3952
TP1 1.3892 and TP2 1.3862
BE+1= 1.3921
R:R 2:1
order was stopped out for a loss of 90 pips.

===== 6/24 was Wednesday and trade recommendations were

Buy Break 4070 and clear 4100 – Watch Bounce or reversal
Sell Break 3888 and clear 3855 – May Stall first time

====If you seen an entry at 3922 and trade did not work out… NP, but this trade had better been in practice regimen account… Okay ---- By the way, I have had months in demo where I lost 10,000+ pips testing my theories - the process led to fine tuning====

=======Upon further review - you mentioned being down Live -520 pips, if one of those trades were the above 52 pip turnaround, you see why we need to work on following protocol consistently ================

6/25
Buy Entry: 1.4070 SL 1.4040
TP1 1.4100 and TP2 1.4130
BE+1= 1.4071
R:R 2:1
Goal 200 I'm not even close.

Sell plan for Entry at 1.3888 SL 1.3918
TP1 1.3858 and TP2 1.3828
BE+1=1.3887
R:R 2:1
Goal 200 Let's not go there.

Neither of the 2 above last orders has been triggered.

=================Correct - the EURO did not move as expected in current session =========

I have been having a really bad month.
Demo acc't -789 pips and live -520 pips

=========Denise, is the LIVE account regular lots, mini lots, or micro lots? And losing 780 pips in demo tells me you are slowing down on trading from previous months, Is this Correct? Most traders when moving from demo to live slow the demo process down to catch the live trades as their minds suggest they are missing pips or

Some traders have a really great month trading and markets change as they start pressing when having some losing trades… Everything is okay… some adjustments are needed========

I have also been putting in the orders on all the other pairs and on a good note I have a gravy train going for
GBP/USD on a sell order at 1.6375.

======Great, Denise ===================

I believe I need to do a better job on timing entries.
I don't think that just placing all these orders when they come in is adequate. I have been late a few times placing the orders from when they are posted.
Joe, can you give me any ideas on better timing?

========= Your above comments suggest frustration. Let’s take them one at a time ====

I believe I need to do a better job on timing entries.

====Eight years into my career and I still have this same mindset… We always believe we could do better. Place all trades for all pairs in daily reports and PM --- Continue to place trades with currency pair your stalking with this mindset… Testing theories by executing trades in live current market conditions in practice regimen account is an absolute to honing skills================

=====My experience suggests you are allowing LIVE trades to mess with your mindset… instead of following training regimen consistently ============

I don't think that just placing all these orders when they come in is adequate.

==========Depends on your personal goal… If you seek becoming a trader of substance then placing orders or executing trades is paramount for overall success. In a practice regimen account… Now if you mean in a LIVE account, each trade must seek their personal trading personality

Denise, you have hit a plateau and JEDI mind tricks are causing doubt… The minus total in LIVE account is causing doubt. Congrats, you are nearing the next level for breakthrough -- So breakdowns during the journey happen… Denise you are awesome, you have been a HUGE contributor to this forum.. HUGE, then upon hitting a roadblock
You backed away --- How we react during adversity determines our fate….

Others on this forum beware, everyone will hit a wall --- that is 100%

Denise let’s work together to get you through the roadblock and back on track =====

I have been late a few times placing the orders from when they are posted.
Joe, can you give me any ideas on better timing?

==========The reports come out every night by 7 Pm central / 8 pm eastern --- Densie you keep pushing on -- Please continue to stay the course, you will overcome adversity to become an awesome trader. ==========================



Have a great weekend.
Denise Cantin
Stalk EUR/USD

===Please take some time over weekend to address my comments and share your thoughts --- Thanks in advance for your effort… any other comments from other traders are encouraged and welcomed…

Blessings

Forex Joe

[pipsterado]

Denise,

I have been with Joe going on three years. We all have doubts when trades go the wrong way, several days or weeks at a time. I have found that at times it is ok to stop and look back at what happened during that run of bad L.U.C.K (labor under correct knowledge). Did I miss a news event, miss a step through the evaluation process, etc. Lots of time I found that there was nothing I did wrong the 1st couple of trades then the emotion takes over and I start taking shortcuts. This just diggs the hole deeper and puts more doubt in your mind. You have to step back and come back refreshed.

Are you trading live in the market or are you placing entry orders? This will have a lot to do with how the trades turn out also. I myself place more entry orders. I work during the day so I cant watch the market this makes timing a little difficult. The good thing about entry orders is that it takes emotion completly out of the trade. You have to evaluate everything up front and stick to it.

I have been up and down in my live account for the last month. Currently down 500 pips (micro) not to concerned because this could all turn around in a day or two. You have to keep stalking the pair. I am currently in 3 trades with a total of 360 pips and running.

I know you where looking for answers more then a pep talk but believing in what you are doing is just as important.

Jim

[Marcio]

I took around 200 pips today in this oscillating market!

The first one was Forex Joe Trader Report:
Sell EURUSD @1.3970
Took TP1 @1.3940 (30 pips)
Took TP2 @1.3911 (59 pips)
Gravy is running (right now 33 pips)

The second was my own trade plan trying to play top-botton of the channel:
Sell EURUSD @1.3960
Took TP1 @1.3941 (19 pips)
Took TP2 @1.3911 (49 pips)
Gravy is running (23 pips now)

Quite excited with these pips in this oscillating market.

Marcio - EURUSD

[dcantin]

Hi,
Joe, I really appreciate all of your comments and will do a better job
of being sure I am placing the latest trade recommendations.

I also want to thank you Jim for your thoughts and experiences.

I have not pulled back because of these trading experiences. I want to continue contributing to the forum and it is only physical things that have
slowed me down.

I broke my foot and am also dealing with an abdominal mass which has taken me into the hospital and for which I will be having surgery in a few weeks.

Please don't think that I have quit. I will persist and succeed.

Thanks for all the coaching.
Denise
EUR/USD

[dcantin]

Hi
My plan for 7/14 based on Joe's report:
Pair EUR/USD Buy 1.4014
SL 1.3984
TP1 1.4044
TP2 1.4104
GT BE+1=1.4015
R:R 3:1

Trade was triggered and a gravy train is running with a SL of 1.4016

Sell EUR/USD at 1.3885
SL 1.3915
TP1 1.3855
TP2 1.3795
BE+1=1.3884
R:R 3:1
This trade has not been triggered.

Goal 200 pips (-60) demo treated as live.
thanks
Denise Cantin
EUR/USD

[ForexJoe]

Hi,
Joe, I really appreciate all of your comments and will do a better job
of being sure I am placing the latest trade recommendations.

I also want to thank you Jim for your thoughts and experiences.

I have not pulled back because of these trading experiences. I want to continue contributing to the forum and it is only physical things that have
slowed me down.

I broke my foot and am also dealing with an abdominal mass which has taken me into the hospital and for which I will be having surgery in a few weeks.

Please don't think that I have quit. I will persist and succeed.

Thanks for all the coaching.
Denise
EUR/USD


Denise,

Your awesome, my prayers are with you during your current storm... Please get healthy and know I appreciate your effort deeply.

Look forward to seeing you on special forthcoming LIVE session...

Thanks and Blessings,

Joe

[dcantin]

Hi,
These trades are from the daily reports for the 14th and 15th.
I have one gravy train running from the buy at 1.4014 and I have moved the stop loss to 1.4016 and have a 130 pip GT at the moment.
"Blessed be the angels".

The sell for 1.3885 on 7/14 did not trigger.

7/15 trade plans
Sell 1.4065 SL 1.4095 TP1 1.4035 and TP2 1.3975
R:R 3:1
This trade triggered but reversed and was stopped out.

I Have replaced this order.

7/15 Buy EUR/USD 1.4184 SL 1.4154 TP1 1.4214 TP2 1.4274
BE+1= 1.4185
R:R 3:1

Thanks Joe for your comments and your prayers.
I realized after reading your comments that I was not managing things properly.

I saw a notice in the ou forex alert for a new trade but could not find it in the PM.

Thanks,
Denise Cantin
EUR/USD and GBP/USD

[dcantin]

Hi Jim,
I am placing orders and I am still only working in demo accounts.

I will not start trading my own money until I have 3 months of positive
200 pips like Joe told us.

Thanks for the words of wisdom.

I want to start doing more trades live in the market..
Thanks
Denise Cantin
EUR/USD GBP/USD

[dcantin]

Hi,
This plan is from Joe's Sunday report.
Currency pair: EUR/USD
Entry Buy 1.4184
SL 1.4154
TP1 1.4214
TP2 1.4274
GT stop at BE+1= 1.4185
R:R 3:1
Goal 200 pips now at -190 in demo (live) and -322 in demo

Entry sell 1.4070
SL 1.4100
TP1 1.4035
TP2 1.3975
GT stop is BE+1=1.4069
R:R 3:1

Denise Cantin
Stalk EUR/USD, GBP/USD

[dcantin]

Hi,
This plan is from Joe's Sunday report.
Currency pair: EUR/USD
Entry Buy 1.4184
SL 1.4154
TP1 1.4214
TP2 1.4274
GT stop at BE+1= 1.4185
R:R 3:1
Goal 200 pips now at -190 in demo (live) and -322 in demo

Entry sell 1.4070
SL 1.4100
TP1 1.4035
TP2 1.3975
GT stop is BE+1=1.4069
R:R 3:1

Denise Cantin
Stalk EUR/USD, GBP/USD

Update:
The buy above has been triggered and TP1 has hit and I am waiting for
TP2 but it is above the R3 of 1.4271 and the pair looks like it may be reversing.

I have moved the stop loss for TP2 and GT to BE+1 at this point.
I was not doing that before and I hope this is what you were referring to Joe.

I was thinking about closing the trade now at 1.4234 but I will restrain myself and let plan play out.

Any comments you have Joe would be appreciated.
Denise Cantin
EUR/USD, GBP/USD

[ForexJoe]

Denise,

Let the winner run... We are still waiting on sense of direction

if knocked out, you will have another plan in place

Godspeed,

Forex Joe

[Ricky Tse]

Dear friends,

Has anyone noticed how price for EUR/USD has reacted around 1.4911 in the last 24-hour trading session (Oct 14, 2009)?

Here's my observation from today:

Price first reaches 1.4911 area around 5 a.m. EST and it bounces back down. There is also M4 at 1.4920 and so it becomes a strong level of resistance. Price bounces between 1.4920 and 1.4875 (Oct 13 high) until the FOMC meeting minute came out at 2 p.m. EST.

After the news release at 2 p.m., price jumps up to R2 1.4943 area but it quickly turns back around and hangs near 1.4911 again for another hour.

With Dow closes above 10,000 for the first time this year today, we also see EUR/USD manages to close above 1.4911 by 14 pips at 1.4925.

With that in mind, I have a short-term bias to go long toward 1.50 (and maybe 1.5022) since those price is like a magnet (just like Dow 10,000).

But as FOREX Joe has stated in the report this evening, "the indicators are still in place for Dollar to show short term strength". I am thinking that we will need to be ready to sell EUR/USD at 1.5000 level when we see reversal candle patterns or other technical indicators that we use.

One last observation, the first time 1.4911 has shown up in the daily report as breakout channel "should be" on Aug 19, 09. Almost 2 months and 700 pips later, we have finally arrived at this price point.

Where could the price go next? What's your trade plan? I would love to hear from you.

Thanks,
Ricky Tse
E

[dcantin]

Hi Ricky,
Great posts.
I have been reading that there may be short term strength in the dollar.
Although the Eur has been powering up over the 1.4911 I am wondering what will happen with the expiration of options coming up. It is also the time for mutual funds to wrap up their end of the year on 10/31 which could lead to some interesting times.

I did find some information that you might find usefull.

"Forex traders will look to the euro for a momentum lead on the dollar index, and now will have the backing of the ECB, after Jean Claude Trichet twice in the last week called on the U.S. administration to back the strong-dollar policy that is talked of by those controlling the flow of U.S. debt.

“It is extremely important that the U.S. authorities, including the Treasury, the Secretary of the Treasury and the chairman of the Fed, would pursue policies that take into account the fact that a strong dollar is in the interest of the U.S.,” Trichet said at an event in Frankfurt today. “Excess volatility is an enemy from the standpoint of the stability and prosperity of the global economy.”

I am not an advanced student but I thought I might share this with the group.

Denise
GBP/USD and GBP/JPY

[Ricky Tse]

Hey Denise,

Thanks for sharing. :) It is interesting to see that US seems to have done what Trichet has suggested to do. There's an inteview with US Treasury Secretary, Tim Geithner from the news last night. He says that he is supporting strong USD.

Here are the links to a few articles that I have found. They are good for a quick read over the weekend.
My Interview With Treasury Secretary Tim Geithner
http://www.cnbc.com/id/33342777/

Secretary Geithner on the Greenbacks’ Status
http://wallstreetpit.com/11271-secretary-geithner-on-the-greenbacks-status

By the way, I am not part of the advanced student group either... As a matter of fact, I drop out over the summer and now I am back in trial mode to check how things have moved along.

I still haven't seen much of discussion about other currency pairs on this forum yet and maybe I need to come back again few months later...

Have a great weekend.

Thanks,
Ricky Tse
E

P.S. Friday (Oct 16, 2009) close for EUR/USD is right around 1.4911. That just shows the importance of those numbers and how we can plan our trades around them as a SPRING BOARD for bounce or breakout. ;)

[D.Lerty]

As a beginner, you should trade the pairs that are most active during your trading session. So if you are trading the Asian session, focus on JPY crosses. If you trade the European forex session, trade the EUR crosses.

What pairs have you tried? Have you had any successes with any of them?

[roorkRex73]

As a beginner, you should trade the pairs that are most active during your trading session. So if you are trading the Asian session, focus on JPY crosses. If you trade the European forex session, trade the EUR crosses.

What pairs have you tried? Have you had any successes with any of them?

[D.Lerty]

As a beginner, you should trade the pairs that are most active during your trading session. So if you are trading the Asian session, focus on JPY crosses. If you trade the European forex session, trade the EUR crosses.

What pairs have you tried? Have you had any successes with any of them?

[vavyavartiefe]

From EIRO/USD of 17 Ott.

The last day has been an inside day , little range. Will it go down to the last RH ?

[vavyavartiefe]

Update... See attached chart. 4-hour USD/JPY.

The SK support at 107.20 needs to break before the door is open to shorting. That would confirm a true break of the up-trend line. Above that, the chance of a rally is too high.

-Neal.

[urilent09]

Update... See attached chart. 4-hour USD/JPY.

The SK support at 107.20 needs to break before the door is open to shorting. That would confirm a true break of the up-trend line. Above that, the chance of a rally is too high.

-Neal.