That's how I started. Trading at 1 or 2 cents a pip. A small account last a long time. By the time you burn through a couple hundred dollar account you should be starting to piece everything together. Don't get in a rush, the initial learning phase ...

EurAnalysis

Excellent post PT. You, since you are more informed about the fundies than I will ever be, have made the point very clearly. At some time this charade will end and we can get on with the down trend. But, alas, it will have to play out for another ...

EurAnalysis

If any time your not sure, instead of hoping, take your profit and look for another entry.

EurAnalysis

Yes. If it get's through this resistance area then that is an indication that the banks are manipulating things again.

EurAnalysis

So correct you are. Normal technical correction to bring everything back in balance. It is unpleasant, but also something that has to be gone through.

EurAnalysis

It's back to a resistance area, so it shouldn't go up much more than 1.374x/5x.

EurAnalysis

That's how I'm reading it. The fundies guys may have a different take on this, but it does need to get back in balance according to my system.

EurAnalysis

Price is out of balance after a near 200 pip move. It needs to retrace or slide to get back in balance and that's what is happening now. It's basically taking a breather.

EurAnalysis

If your just starting out and trading a live account, my suggestion is to use micro lots in the form of pennies per pip. You still get that my money emotion without the risk of loosing large sums of money while building your system and learning.

EurAnalysis

I would look for some retrace or sideways movement. The 1 Hr is out of balance. No guarantee, but it usually re-balances before it can move on. Now if this is going to be a total blood bath it will keep going.

EurAnalysis

My platform allows me to set when the daily starts. I use 1700 ET (New York) as that is the time when the swaps are done. This time also fits in quite nicely with how the market works. Monday open in Aukland (Sunday evening my time) Friday close New ...

EurAnalysis

In my system I use a SL. I also trade in standard lots. My system is set up to where I get 3 or 4 entrys a day, usually good for 30+ pips. Once I'm in profit, 10 pips or so, my SL is set to BE+1. By doing this I end up with a fair number of BE ...

EurAnalysis

The way I trade the news is stay out until the major fireworks are over then make an entry based on your analysis. The chance for a major spike in the opposite direction is to risky in my book.

EurAnalysis

Not sure if it will carry that much bad weight here in the states as it would on the continent.

EurAnalysis

If this is part of their plan to fix their problems, then there really is no hope for the EU.

EurAnalysis

He does know what he's talking about. He is one of the few who rightfully carry the tag of trader.

EurAnalysis

That's a pretty good list. Covers the basic myths.

EurAnalysis

The aqua arrow is where I should have entered aroun 1.3780 after it opened and moved up to hit between the dotted red and dotted blue indicators. My entry was at the open of the 2200 bar.

EurAnalysis

Sorry for the delay and lack of a chart. Been babysitting this thing. Short 2200 ET @ 1.3747. Currently trying to get through some fairly stiff support @ 1.371x. Once it goes I'm looking for 1.362x.

EurAnalysis

That is great.

EurAnalysis