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  • #1,561
  • Dec 6, 2006 8:04pm Dec 6, 2006 8:04pm
Duke dont listen to anyone on here,myself included follow ur own instincts and or trading system if ur system says go short then do it... bottom line. dont hesitate, thats why we have stops, trading is about probabilites not certainties, exercise ur edge.. stick with ur plan.
  • #1,562
  • Dec 6, 2006 8:05pm Dec 6, 2006 8:05pm
Duke: I was actually just messing around... that line is from Tommy Boy, one of my favorite movies starring Chris Farley.

Unfortunately, sarcasm and the big smile on my face doesn't come off on public forums. For that, I apologize.
Mr. Trend
  • #1,563
  • Dec 6, 2006 8:06pm Dec 6, 2006 8:06pm
my system signaled a short as well, can price go back up? YES do I care if it does and i get stopped out? NO why? because im following my rules to the T and not letting other peoples bais and emotion cloud my mind.
  • #1,564
  • Dec 6, 2006 8:10pm Dec 6, 2006 8:10pm
There are several different probabilities that can play out, think of them all learn to think in probabilites or what if scenarios. dont just think in 1 direction IE short or long, think about how news and other factors could possibly affect ur position, the worst mistake u can make is to have a nice open profit and see it get destroyed by a news based reversal.. always always always protect ur position before any significant news that can impact the US dollar.
  • #1,565
  • Dec 6, 2006 8:14pm Dec 6, 2006 8:14pm
personally I really need to see price extend out of this range and break lower for me to become convinces of more downside retracement, and remember all nothing in FX is set in stone, dollar strengh or weakness can come and go in the blink of an eye, 1 piece of news or data can change everything. BE FEARFUL of incurring large losses and be hopeful for large profits, this is using fear and hope in positive, protective way. ;-)
  • #1,566
  • Dec 6, 2006 8:14pm Dec 6, 2006 8:14pm
Oh, yeah, price will go back up, but this crazy, overblown uptrend is petered out. We can make money right now by shorting this, folks. I'm not trading on emotion, but I do get out when it "feels right". I tried getting out on fibs, resistance, etc. and found out that by following mechanics instead of my personal analysis, or worse yet, listening to other analysts, I lost money. What feels right for me might not feel right for you.

Anyway, let's get back to what people have to say about shorting the hell out of cable right now...

Also, Mr. Trend, check the Tom Demark sequential on this one...
"The time to act is when others show signs of tire." --W.D. Gann
  • #1,567
  • Dec 6, 2006 8:16pm Dec 6, 2006 8:16pm
Don't wait for something to change, short right now and get out before something does change! That's the whole point, right?
"The time to act is when others show signs of tire." --W.D. Gann
  • #1,568
  • Dec 6, 2006 8:17pm Dec 6, 2006 8:17pm
Quoting dukeofdents
Also, Mr. Trend, check the Tom Demark sequential on this one...
Oh don't get me wrong bro. I have no clue where it's going. For all intents and purposes, you could very well be right...
Mr. Trend
  • #1,569
  • Dec 6, 2006 8:17pm Dec 6, 2006 8:17pm
another factor to take into account when going short in this case in u want to see price move down alot faster otherwise this could just end up being long side accumulation in an uptrend kind of like a flag or abc move, typically u wanna see price take out support alot faster, the upside here is still very much in danger without somekind of break lower.
  • #1,570
  • Dec 6, 2006 8:20pm Dec 6, 2006 8:20pm
Going short at this level where would u put ur stop?
  • #1,571
  • Dec 6, 2006 8:23pm Dec 6, 2006 8:23pm
I went short last night on the asians with a small trade, then added to it as I saw things start to react, wound up with a big position overnight, and have closed everything except a small short right now. I increased my account by 3% in less than 24 hours, and I'm now just waiting for the next chance...

BTW, Mr. Trend, you being amicable is no fun. I thought you were going to put on your sparring gloves...
"The time to act is when others show signs of tire." --W.D. Gann
  • #1,572
  • Dec 6, 2006 8:25pm Dec 6, 2006 8:25pm
just be cautions this little retracement is nothing to write home about and it can reverse on a dime at this level... use a stop even if its 100 pips.
  • #1,573
  • Dec 6, 2006 8:26pm Dec 6, 2006 8:26pm
Enoc2g, I got stopped out of a small one last night and it pissed me off so traded it with, again God Forbid, no stops from last night until now. Yeah, that's risky as hell. Next time I do it I will lose my ass, probably. This time was pretty good, though. Oh $hit, something pissed me off and I fought the market, I guess, and had emotions. I'd better go back to school...
"The time to act is when others show signs of tire." --W.D. Gann
  • #1,574
  • Dec 6, 2006 9:18pm Dec 6, 2006 9:18pm
Quoting dukeofdents
BTW, Mr. Trend, you being amicable is no fun. I thought you were going to put on your sparring gloves...
Naw. I'm no good at boxing. I'd just get my arse kicked and my wallet stolen.
Mr. Trend
  • #1,575
  • Dec 6, 2006 9:35pm Dec 6, 2006 9:35pm
Quoting Mr Trend
Naw. I'm no good at boxing. I'd just get my arse kicked and my wallet stolen.
I'll drop your wallet in the mailbox. But, I'm keeping the cash and your drivers license. I have to show this picture to my friends

Sorry Mr. T couldn't resist :
Profit is where readiness meets Opportunity
  • #1,576
  • Dec 6, 2006 9:56pm Dec 6, 2006 9:56pm
Quoting Mr Trend
Oh don't get me wrong bro. I have no clue where it's going. For all intents and purposes, you could very well be right...
Surely its indents and puposes.............

Early morning humour, anyway for what its worth I am also short, at 9665, it's been hovering around there for a while now failing to break up thru the fib TP at 9610.
Eish! If you don't fly with the eagles you'll scratch with the turkeys
  • #1,577
  • Dec 6, 2006 9:56pm Dec 6, 2006 9:56pm
Hey dookie, if you are still in the trade put your stops at a 20 pip gain, then take the week off, I think you will be in for a very pleasant surprise when you get back. just my opinion.
Quoting dukeofdents
Thanks for another condescending remark, Mr. Trend. I have finally learned to appreciate them and not retaliate, as you are the wonder-god of the currency world and know everything.

I'm learning what my momma taught me a long time ago, if you have nothing nice to say, don't say anything at all.

Anyway, yes, it is not just in a consolidation phase but in a reactionary reversal. I made 70 pips yesterday because I caught it on, God forbid, the Asian session.

I didn't eat paint chips when I was a kid, I smoked crack. I must be on crack to short Cable, right? I'm short as hell on it. This trend is overblown.
THE MAN
  • #1,578
  • Dec 6, 2006 10:08pm Dec 6, 2006 10:08pm
I don't think it's a down trend, that doesn't mean somebody can't make money shorting.The uptrend was for about 1300 pips, having a 33% retracement will be around 400 pips. Now in retraced about 200 pips.
Making 70 pips on a short trade doesn't mean it's a downtrend. I was able to make 80 pips on a long trade these days.

I would look for signs that the retracement is over and I would go long again.
Try hard, think fast, die young
  • #1,579
  • Dec 6, 2006 10:23pm Dec 6, 2006 10:23pm
Quoting dukeofdents
If you don't think it reversed and is now in a retrace, I'd like to know your thinking as well. All I can say myself is short it to death, use multiple lots, and profit when it feels right. This trend is now down! I made a little bit on the up, but I'm going to make a killing on the reversal!
What do you think?
Attached Image
  • #1,580
  • Dec 6, 2006 10:27pm Dec 6, 2006 10:27pm
Quoting linuxtroll
What do you think?
I think it looks like a dragon.
Mr. Trend
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