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Karmostaji's Journal

  • #621
  • Feb 26, 2008 1:36pm Feb 26, 2008 1:36pm
Quoting karmostaji
Short GJ @ 213.00
Short GJ @ 212.12
How far would you keep your SL if you don't mind me asking? 200? 300? 500 pips?
  • #622
  • Feb 26, 2008 1:37pm Feb 26, 2008 1:37pm
Quoting karmostaji
Short GJ @ 213.00
Short GJ @ 212.12
Whoa whoa, no holding out for longs?!? Your killin me Karmo! lol
I dream, therefore I become.
  • #623
  • Feb 26, 2008 1:38pm Feb 26, 2008 1:38pm
Quoting charlinks
How far would you keep your SL if you don't mind me asking? 200? 300? 500 pips?
I used to use SL's and used to lose, so I don't use SL until the trades goes my way well enough (100+ pips)
Trade what you see, not what you think.
  • #624
  • Feb 26, 2008 1:40pm Feb 26, 2008 1:40pm
Quoting mike w
Whoa whoa, no holding out for longs?!? Your killin me Karmo! lol
This is a tough tough area to crack, we will either see a good retracement (200 pips or so) before trying to break 213, or it'll just fall from here n start the next leg down.
Trade what you see, not what you think.
  • #625
  • Feb 26, 2008 1:43pm Feb 26, 2008 1:43pm
Quoting karmostaji
This is a tough tough area to crack, we will either see a good retracement (200 pips or so) before trying to break 213, or it'll just fall from here n start the next leg down.
I agree with you on that 100%. I wrote that down for myself a while back to place some sells in the area of 213. It's that magical number that I remember oh too well so I doubt we'll break it right here.
I dream, therefore I become.
  • #626
  • Feb 26, 2008 1:45pm Feb 26, 2008 1:45pm
Quoting karmostaji
I used to use SL's and used to lose, so I don't use SL until the trades goes my way well enough (100+ pips)
Sure... but there's gotta be a place where you either get a margin call or you just don't feel it anymore...

If for whatever reason there is a break out (and look at the ascending triangle it looks like a perfect setup) it could easily shoot up to 217 even 222. Will you really hold it there? Or would you close if you had a confirmation it will shoot up?

Plus with the AMBAC deal the housing market may stabilize a bit and shoot the equities (=> GJ) high...
  • #627
  • Feb 26, 2008 2:22pm Feb 26, 2008 2:22pm
Quoting charlinks
Sure... but there's gotta be a place where you either get a margin call or you just don't feel it anymore...

If for whatever reason there is a break out (and look at the ascending triangle it looks like a perfect setup) it could easily shoot up to 217 even 222. Will you really hold it there? Or would you close if you had a confirmation it will shoot up?

Plus with the AMBAC deal the housing market may stabilize a bit and shoot the equities (=> GJ) high...
I know what you mean, It all depends on the chart, if I do see a reversal then I'll either close the trades and go with the breakout or open a hedge and let it run, it really depends on the situation.

but GJ is having a really hard time cracking 213, so let's see.
Trade what you see, not what you think.
  • #628
  • Feb 26, 2008 4:15pm Feb 26, 2008 4:15pm
Quoting karmostaji
Short GJ @ 213.00
Short GJ @ 212.12
I fail to comprehend your logic. On the one hand you are sure the market is going to 217.... on the other hand you are now short of 213 and 212....you are prepared to let this run against you without a predefined risk (as per your answer to the question of where is your stop)....a couple of weeks ago someone pointed out that you have allowed your position to go 700 pips against you. You answered that you have enough liquidity and you follow good money management. Of course that very position was closed for +600 pips..I try to follow your logic.....unlimited risk for limited profit and that is good money management...

Good Luck my friend.
  • #629
  • Feb 26, 2008 6:43pm Feb 26, 2008 6:43pm
,....enough liquidity...no disrespects Karmos, but sometimes you're going to get some nasty loses....when you're wrong, and you can't keep up with the loses anymore

anyway, u've obviously managed well somehow.....though i dont know how.
  • #630
  • Feb 26, 2008 8:27pm Feb 26, 2008 8:27pm
Quoting ngforexman
,....enough liquidity...no disrespects Karmos, but sometimes you're going to get some nasty loses....when you're wrong, and you can't keep up with the loses anymore

anyway, u've obviously managed well somehow.....though i dont know how.
Because he obviously knows the market well and anticipates moves superbly- That's how he has managed well in this market. Don't trash talk someone I look up to. Doubledutch, same for you bud. If he's making profit, then he is making profit. Period. I've taken drawdowns before and let them run, only to end in the same manner: Profit.
I dream, therefore I become.
  • #631
  • Feb 26, 2008 9:04pm Feb 26, 2008 9:04pm
Wonder where Q is??? Yo Q you alive dude? Say Hi if you are alive
  • #632
  • Feb 26, 2008 10:38pm Feb 26, 2008 10:38pm
Wow, when did Karmo's thread get some haters? If they are stop loss fans I'm glad they haven't seen my thread

Keep it up bro, have some of that patience pie with a cool glass of pipsi cola!
  • #633
  • Feb 26, 2008 10:56pm Feb 26, 2008 10:56pm
Quoting doubledutch
I fail to comprehend your logic. On the one hand you are sure the market is going to 217.... on the other hand you are now short of 213 and 212....you are prepared to let this run against you without a predefined risk (as per your answer to the question of where is your stop)....a couple of weeks ago someone pointed out that you have allowed your position to go 700 pips against you. You answered that you have enough liquidity and you follow good money management. Of course that very position was closed for +600 pips..I try to follow your logic.....unlimited risk for limited profit and that is good money management...

Good Luck my friend.
In forex, you don't use logic and whoever does loses, so stop looking for logic in my thread.

I predict something, but if my chart/indicators are starting to tell me something else, I have to adapt myself and follow. You will learn the same stuff one day hopefully.

Good luck.
Trade what you see, not what you think.
  • #634
  • Feb 26, 2008 10:58pm Feb 26, 2008 10:58pm
Quoting ngforexman
,....enough liquidity...no disrespects Karmos, but sometimes you're going to get some nasty loses....when you're wrong, and you can't keep up with the loses anymore

anyway, u've obviously managed well somehow.....though i dont know how.
If every 100 pips was 0.2% of my account, do you think i'm going to sit and watch my trades go against 10,000 pips? lol

I follow the trend, that's all.
Trade what you see, not what you think.
  • #635
  • Feb 26, 2008 10:59pm Feb 26, 2008 10:59pm
Quoting mike w
Because he obviously knows the market well and anticipates moves superbly- That's how he has managed well in this market. Don't trash talk someone I look up to. Doubledutch, same for you bud. If he's making profit, then he is making profit. Period. I've taken drawdowns before and let them run, only to end in the same manner: Profit.
Thank you Mike
Trade what you see, not what you think.
  • #636
  • Feb 26, 2008 11:02pm Feb 26, 2008 11:02pm
Quoting lepiricus
Wow, when did Karmo's thread get some haters? If they are stop loss fans I'm glad they haven't seen my thread

Keep it up bro, have some of that patience pie with a cool glass of pipsi cola!
LOL, Thanks lep
Trade what you see, not what you think.
  • #637
  • Feb 27, 2008 12:49am Feb 27, 2008 12:49am
Quoting mike w
. Doubledutch, same for you bud. If he's making profit, then he is making profit. Period. I've taken drawdowns before and let them run, only to end in the same manner: Profit.
Sure if he is making profit then good luck to him. Long may it continue. I just couldn't understand the logic of a position which is taken against his fundamental outlook for the pair. If he is certain of 217 then surely it would make more sense to go long and wait for it to be hit....anyway if profits are being made then who cares.
  • #638
  • Feb 27, 2008 12:53am Feb 27, 2008 12:53am
Quoting karmostaji

I predict something, .
I hope for your sake that your perdictions of this pair is slightly better than your perdiction of GBPUSD late last year.
Good Luck.
  • #639
  • Feb 27, 2008 4:18am Feb 27, 2008 4:18am
Good call!

Do you think it will reverse soon back to the uptrend?

it is about to touch on the hourly support trend line... but what do I know...
  • #640
  • Feb 27, 2008 4:20am Feb 27, 2008 4:20am
Quoting doubledutch
Sure if he is making profit then good luck to him. Long may it continue. I just couldn't understand the logic of a position which is taken against his fundamental outlook for the pair. If he is certain of 217 then surely it would make more sense to go long and wait for it to be hit....anyway if profits are being made then who cares.
Quoting doubledutch
I hope for your sake that your perdictions of this pair is slightly better than your perdiction of GBPUSD late last year.
Good Luck.
At the end of the day, it's about profits and I'm profitable.
Trade what you see, not what you think.
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