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The System (Irony included)

  • #841
  • Nov 26, 2007 8:38pm Nov 26, 2007 8:38pm
Quoting feb2865
very unlikely although anything is possible

Peace
Very unlikely? In 2000, when tech and Internet stock bubbles went bust, DJIA went down from 11400 to 8000 level, and in this year subprime bubble went bust, DJIA from 14000 to 10000 level?

Better not to predict for a trend follower.

However, I am watching jpy crosses especially AUD/JPY, when DJIA bottoms up, wow, a very good opportunity in A/J for all of us.

Peace too
  • #842
  • Nov 27, 2007 5:08am Nov 27, 2007 5:08am
Hi, guys. We see a kinda hammer candle on shown on Nov. 23 USD/CHF daily chart.

So, shall we wait for confirmation of this bar? That is waiting for a day bar which breaks 1.1069 the highest since Nov. 23?

What do you think? Feb, and Trader_V?
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  • #843
  • Nov 27, 2007 5:34am Nov 27, 2007 5:34am
Quoting Green_David
Hi, guys. We see a kinda hammer candle on shown on Nov. 23 USD/CHF daily chart.

So, shall we wait for confirmation of this bar? That is waiting for a day bar which breaks 1.1069 the highest since Nov. 23?

What do you think? Feb, and Trader_V?
Don't trade until you see the signal. A hammer could be a heads up but let the market come to you. I don't see a signal there.

Peace
Peace
  • #844
  • Nov 27, 2007 7:24am Nov 27, 2007 7:24am
Quoting feb2865
Don't trade until you see the signal. A hammer could be a heads up but let the market come to you. I don't see a signal there.

Peace
Thank you.

Keep alert, right! And let the market come to me.

Cheers.
  • #845
  • Nov 27, 2007 2:16pm Nov 27, 2007 2:16pm
Hello,
MrFeb2865, and other contributors(naked or otherwise)

First a big thank you for starting and keeping this thread alive and well....great group of people. Is anyone familiar with the zig-zag indicator? It seems that it can help us visualize a "V" formation. Please let me know if this makes sense to you.

Here is a daily with the ZigZag

Thank You
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Unus pro omnibus, omnes pro uno
  • #846
  • Nov 27, 2007 5:05pm Nov 27, 2007 5:05pm
Quoting moneda
Hello,
MrFeb2865, and other contributors(naked or otherwise)

First a big thank you for starting and keeping this thread alive and well....great group of people. Is anyone familiar with the zig-zag indicator? It seems that it can help us visualize a "V" formation. Please let me know if this makes sense to you.

Here is a daily with the ZigZag

Thank You
Hey Moneda,

My personal view is that your eyes, once trained, are far superior to anything ZigZag can do for you. I can see numerous excellent trade opportunities that ZigZag would not alert me to.

O N D
  • #847
  • Nov 27, 2007 6:08pm Nov 27, 2007 6:08pm
Quoting Old_Not_Dead
Hey Moneda,

My personal view is that your eyes, once trained, are far superior to anything ZigZag can do for you. I can see numerous excellent trade opportunities that ZigZag would not alert me to.

O N D
Ditto. There are numerous opportunities besides the obvious peaks on that chart.
  • #848
  • Nov 28, 2007 3:28am Nov 28, 2007 3:28am
Feb2865,

rarely posted anything in forums but just cant stop myself to let you know that "after reading what you have written, i am impressed. only a true master can explain to other using simple and understandable words."

best regards,

Korn_trader
........... have nothing to say..........
  • #849
  • Nov 29, 2007 5:45am Nov 29, 2007 5:45am
What happened here....?

Did this thread die?

  • #850
  • Nov 29, 2007 8:56am Nov 29, 2007 8:56am
Quoting alcastro
What happened here....?

Did this thread die?

Hi, alcasco.

Maybe Feb is busy. DJIA had a sharp increase yesterday.

I gave a warning on USD/CHF. I wonder if anybody noticed that. Any way, I made 161 pips by now, still holding that.

I think DJIA may go down again. So, there would be chances in JPY crosses.

Cheers.
  • #851
  • Nov 29, 2007 11:43am Nov 29, 2007 11:43am
Quoting korn_trader
Feb2865,

rarely posted anything in forums but just cant stop myself to let you know that "after reading what you have written, i am impressed. only a true master can explain to other using simple and understandable words."

best regards,

Korn_trader
Thank you very much

Green David

I daytrade ES very often so much of my weight trading wise is on futures/commodities. About DJIA there's still fear on housing outhere. You wrote something about dow -10k I didn't reply to that post 'cause I'll be cluttering this thread. I apologize.

Also, Christmas is coming. I personally reduce my trading during this time almost to none.

You can apply what I said on this thread to a lower time frame like 4 hr, just be aware of the noise and have an eye on risk.

I guess plenty of people grasp the idea of this thread . In my opinion, this is not a good time to initiate a position as there's too much stuff going on outhere, but still, if you see a formation, don't hesitate...pull the trigger.

Feel free to ask me any questions. If is important and you see I don't reply, please feel free to pm.

Peace
Peace
  • #852
  • Nov 29, 2007 12:12pm Nov 29, 2007 12:12pm
Listen guys

I got plenty of "scared messages" about the condition of the markets, etc.

Please listen very carefully. I'll probably repeating myself so I truly apologize

Trading is a business based solely on probabilities. I'ts lonesome and extremely difficult. At the end is how to manage risk what keep you alive. Don't get fooled by hindsight. You can only stack odds in your favor, but there's nothing you can do about market risk. But still there's many things you can do to minimize risk and stay in this game for long time

1) You're not obligated to trade everyday even if you're a daytrader. Pick your setups carefully. Get the best one's.

2) Go easy. Don't shoot all the bullets in one spot.

3) Keep an ear on the ground - AKA news by the time you're looking for a trade. If you know JYP has interest stuff at 9:00 PM EST and you're looking at G/J well, stay out and let the smoke clears.

4)Learn your setups even with your eyes closed.

5) Make sure without any reasonable doubt the consequences of that trade you're looking for. If risk is too high, consider pass.

6) Plenty of people have come to this thread with this mentality of " buy when x and x cross" etc . This is very much like a herd of cows following each other to the slaughter house. But now your eyes are open. Knowledge is power, use it at you advantage.


My mentor has a saying " You are not in the markets to make money but to preserve your capital. As a result of your excellent job, the market will compensate you"


I am planning to open up a thread based on futures/daytrading, if I am permitted as I don't know if this is only a forex-based forum.

If you guys are interested, let me know. I'll throw on a couple of tricks I use on my every day trading.

Peace
Peace
  • #853
  • Nov 29, 2007 12:28pm Nov 29, 2007 12:28pm
Quoting feb2865
I am planning to open up a thread based on futures/daytrading, if I am permitted as I don't know if this is only a forex-based forum.

If you guys are interested, let me know. I'll throw on a couple of tricks I use on my every day trading.

Peace
I would be interested since I trade futures as well.... just to see what you're doing...
Mr. Trend
  • #854
  • Nov 29, 2007 12:40pm Nov 29, 2007 12:40pm
bring on the knowledge feb........

also, you mentioned in one of your first posts here (#3) about trading forex options as a hedge technique. I'd love to hear your strategy on that.

Jacko has a very interesting hedge technique he uses on E/U, I'd love to hear more about your technique/strategy.

Thanks again for sharing.
trading naked.......
  • #855
  • Nov 30, 2007 2:49am Nov 30, 2007 2:49am
Quoting feb2865

If you guys are interested, let me know. I'll throw on a couple of tricks I use on my every day trading.

Peace
Hi feb,

I'd just like to thank you and others for the time to educate your fellows on this thread. I am not fluent in english, that's why I seldom post something here. But I keep on reading. If you open a thread on futures in another forum, please let me know. I'm quite interested in intermarket relationships as well.

Thanks.
Fabrice.
  • #856
  • Nov 30, 2007 4:40am Nov 30, 2007 4:40am
Hi Feb,

Great thread! I am also very interested in your futures/daytrading methods.

Which books can you recommend on reading about your stategies?

I hope to hear from you soon!
  • #857
  • Nov 30, 2007 6:46am Nov 30, 2007 6:46am
Ok guys

Ill put something together very soon You're still welcome to ask any questions here as you wish

Peace
Peace
  • #858
  • Nov 30, 2007 11:48am Nov 30, 2007 11:48am
Feb -

Looks like I picked a great time to be busy.....getting married tomorrow.

Besides, there are a lot of potential traps in the market at the moment. (Am I wrong, who knows? Who cares?) None-the-less......I will look at the weekly bars on Sunday.

USD/CAD is screaming to buy, BUT......the weekly is just now forming the "v", and it's counter-trend......so I leave this one alone.

I made so much money shorting it.....it could be hard to go long.

Because of this, can you tell me what would make you think trend is reversing? I know that we should see consolidation first.....so buddy, how 'bout a lesson?

Certainly we should see a trend change sooner or later? I know what to do with the trend......but when do we decide it changes? (Although I know it's premature at the moment.)


Clockwork
  • #859
  • Nov 30, 2007 12:20pm Nov 30, 2007 12:20pm
clockwork,

yeah that USD/CAD is looking mighty tasty, I'm waiting for a retrace on the 4hr to get into the USD/CAD pair long, the weekly has already completed it's newer high after the 2nd bar, same with the 4hr. All the 4hr tops are new highs, Daily is still one day away from completion though. I think I'll just enter long on a smaller lot amount and wait for confirmation after Monday's session.
trading naked.......
  • #860
  • Nov 30, 2007 12:36pm Nov 30, 2007 12:36pm
Quoting clockwork71

USD/CAD is screaming to buy, BUT......the weekly is just now forming the "v", and it's counter-trend......so I leave this one alone.
Clockwork
I hear you on this. Looks tasty but the move up doesn't look strong enough for me...heading towards a downtrend line and the "V" formations on 4 hour charts just don't seem to have follow-thru with a 3 bar setup. Not a gambler here so I will wait for the market to show me some strength and a proper 3 bar setup.

That said....I am watching the Euro as it looks promising.
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