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I haven't got a clue!

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  • #321
  • Jan 17, 2007 9:29am Jan 17, 2007 9:29am
Retest of 2940 seen twice now but this level is holding for now. We're up to 2938 again near the top of the range. Hourly studies are still bullish and there remains scope for a return to higher levels. Daily charts are deep in oversold territory and it is unlikely that we will see a break of the 100-day MA at 2875 so if I wasn't overlong already with an open loss $511 I would buy dips to here.

For now until the move is established and depending on the number of shorts that get left behind I'll just content myself with a reducing loss. For that to happen if it does go north 2 shorts have to hit TP as I'm net short 3-4 at the moment. If all 4 get left behind I will increase the lot size to compensate on the way up. Can it work? We'll see soon I hope. The ideal would be a drop to 2905 then a steady rise. Forex Gods - I've stopped playing poker - you listening?
Do not focus on making money; focus on protecting what you have.
  • #322
  • Jan 17, 2007 9:49am Jan 17, 2007 9:49am
I'm not quite ready yet to go long again. My last long was on 5th January really due to my rules and over exposure due to my stale longs which, as I've always said, will become profitable or this account blows up with a margin call. It's now back at 2935. It would have been a nice short for 10+ but with 4 open already I want them sorted out first.

However, it may now continue to trade at the top end of the range which won't help - but it won't hinder either even if the shorts are left behind. I'm happy with a ridiculous open loss when the move gets established north. Who would have a go at this? No-one I hope. It'll fail - eventually. What may matter though is the profit in the meantime. But there probably won't be any so I don't have to worry, do I?
Do not focus on making money; focus on protecting what you have.
  • #323
  • Jan 17, 2007 10:02am Jan 17, 2007 10:02am
Many of you will have noticed the raw html in many earlier posts. This was done when it worked in the old forum but sadly it's gone for good. They were live account statements where I've now asked Merlin to delete the raw html and I'll be posting future statements I did with the first post by an image.
Do not focus on making money; focus on protecting what you have.
  • #324
  • Jan 17, 2007 10:07am Jan 17, 2007 10:07am
My shorts may get left behind. If they do then my maximum lots open in both directions will be 6 each. This will be revised if the shorts hits TP which they still might. I am now neutral again 4-4.
Do not focus on making money; focus on protecting what you have.
  • #325
  • Jan 17, 2007 10:07am Jan 17, 2007 10:07am
You just take my breath away!! What are you doing? I go away for 2 days and come back to this mess!

Three stale longs and four shorts getting away by the minute. You just don't have a clue!

Look, this next short could be your last chance to gather up what you can, take what's on offer and go get the longs , and keep some powder dry. What a mess.
Roy
Polishing my crystal ball
  • #326
  • Jan 17, 2007 10:13am Jan 17, 2007 10:13am
As long as 282 is not broken down an upmove with 313 and then 33 as next target. Pivot point stands at 282. The daily technical indicators are bearish but are close to supports. ST consolidation; MT bullish.
Do not focus on making money; focus on protecting what you have.
  • #327
  • Jan 17, 2007 10:26am Jan 17, 2007 10:26am
Quoting 30XTCi
You just take my breath away!! What are you doing? I go away for 2 days and come back to this mess!

Three stale longs and four shorts getting away by the minute. You just don't have a clue!

Look, this next short could be your last chance to gather up what you can, take what's on offer and go get the longs , and keep some powder dry. What a mess.
Nice to see you again Roy. I really don't have a clue. I'm in Malta at the moment and there's a place called Mount Carmel. It's a hospital for special needs - I think I qualify. They do drying out as well. And as for my longs they're getting mouldy now. They've got a rather unpleasant white and green growth around the edges. And as for my shorts they might go stale and rather unpleasant as well if they don't hit TP in the US afternoon session today. Blimey Roy, it's all going wobbly. I might go and see my mate in Koh Samui. Those Thai girls are so helpful. I'm neutral again now 4-4 so no margin call potential until something hits TP.
Do not focus on making money; focus on protecting what you have.
  • #328
  • Jan 17, 2007 10:33am Jan 17, 2007 10:33am
The 30-min RSI has broken above a declining trend line.

http://www.tradingcentral.com/chart/...0117171801.GIF

Do not focus on making money; focus on protecting what you have.
  • #329
  • Jan 17, 2007 10:46am Jan 17, 2007 10:46am

There we have it. Make of it what you will. I haven't a clue!


http://www.wildmonkey.org/fxdd/trades6.jpg


http://www.wildmonkey.org/fxdd/trades5.jpg

Do not focus on making money; focus on protecting what you have.
  • #330
  • Jan 17, 2007 11:09am Jan 17, 2007 11:09am
2932 short removed TP to protect account. That's my risk management - what a joke! But it does cover a long. 2947 and 2944 longs TP removed. I'll close them at the appropriate time or add a TP later when or if they go in to profit. Why Oh Why? I haven't a clue.
Do not focus on making money; focus on protecting what you have.
  • #331
  • Jan 17, 2007 11:49am Jan 17, 2007 11:49am
We may see something here in 10 minutes. No more gambles - no, trades here - from me today. Housing as well.
Do not focus on making money; focus on protecting what you have.
  • #332
  • Jan 17, 2007 11:52am Jan 17, 2007 11:52am
We're bumping up against sellers in the 2950 area again.
Do not focus on making money; focus on protecting what you have.
  • #333
  • Jan 17, 2007 12:49pm Jan 17, 2007 12:49pm
EURUSD pair has broken above a declining trend line.

http://www.tradingcentral.com/chart/...0117191329.GIF

Do not focus on making money; focus on protecting what you have.
  • #334
  • Jan 17, 2007 1:46pm Jan 17, 2007 1:46pm
It looks like you may be holding those stale trades for weeks anyway May even outprofit the losses, we'll see, eh!
Is holding multiple long and short of the same pair a part of your usual trading style at all, even if not to this degree?

Quoting Why Oh Why
Thanks for your kind words november15th. And I'll be here until it blows up. And real accounts - well now, that's a different story but there I hold for weeks, even months on some, and that would be a dull read.

I think, I try here, to keep it entertaining. Iwill dabble with GBPUSD rarely here but other than that it's only EURUSD here. The account would blow in no time if I did others and here I can go both ways and it helps the margin. Have a great day.
  • #335
  • Jan 17, 2007 2:49pm Jan 17, 2007 2:49pm
Quoting november15th
Is holding multiple long and short of the same pair a part of your usual trading style at all, even if not to this degree?
Hi nov - nice to see you again. Simply, no.The way certain currency pairs behave it is easier to trade forex long term then it is to trade it short term. There are many reasons why it is easier to trade forex long term than short term and below are just a few:

  1. First just look at the weekly chart for any currency pair, it looks far smoother with a lot less noise. I've tested systems on daily, weekly, hourly and other smaller intraday time frequencies and it is evident that the bigger the frequency on the chart the better the performance. It is easier to trade smoother charts. And the big boys rarely look at anything less than 30 minute.
  2. The market also tends to panic and make drastic moves. Usually after that buy programmes for institutions step in and correct it and the moves end up being just noise.
  3. The forex market is unregulated and usually traded off exchange for the retail trader thus the FCM’s are able to spike the market because they are taking a risk on a lot of the trades. By spiking the market they can make a lot of traders that have stops near by lose their money to the FCM. That's why I don't use stops here. This is a tactic used by market makers. If you are trading long term you are far less likely to lose in these situations.
  4. Another big issue is commissions. Forex has very high commissions compared to other markets. This is usually incorporated in the spread. So every time you make a trade you are paying $30 or $300 to the FCM. By trading long term you are trading less and thus not paying as much.

I could post more but you get the gist. What I do here has been getting ready to be born for some time but it could only happen when I had a view of the market when it may work. That time is now. But then I haven't a clue.

Do not focus on making money; focus on protecting what you have.
  • #336
  • Jan 17, 2007 3:06pm Jan 17, 2007 3:06pm
We really will get there eventually. The 30-min RSI is bouncing off a former declining trend line. Pivot 2927. Stale shorts arriving here soon.

http://www.tradingcentral.com/chart/...0117213402.GIF

Do not focus on making money; focus on protecting what you have.
  • #337
  • Jan 17, 2007 3:50pm Jan 17, 2007 3:50pm
Why Oh Why,

I see you are still kicking. You may have found your style of trading.

Happy Trading ...
If it is not broken, fix it until it is!
  • #338
  • Jan 17, 2007 7:18pm Jan 17, 2007 7:18pm
Quoting Why Oh Why
Nice to see you again Roy. I really don't have a clue. I'm in Malta at the moment and there's a place called Mount Carmel. It's a hospital for special needs - I think I qualify. They do drying out as well. And as for my longs they're getting mouldy now. They've got a rather unpleasant white and green growth around the edges. And as for my shorts they might go stale and rather unpleasant as well if they don't hit TP in the US afternoon session today. Blimey Roy, it's all going wobbly. I might go and see my mate in Koh Samui. Those Thai girls are so helpful. I'm neutral again now 4-4 so no margin call potential until something hits TP.
Why Oh Why, it's nice to see a master trader go to work and step up to the plate and have some fun. What most people probably don't see is that even if you closed out all your trades and take all those losses, you have still made 20% on your stake money, which is a nice position to be in.
Talking about positions, it's my belief you have carefully and skillfully manouvered yourself into this 4-4 position, ( Hey Euro go any way you like !) I like neutral.
Q. Is that an 8 RSI with 14 MA, seems a strange combination?

Koh Samui, I remember it well. An Airport made of 3 grass huts, cruising the Island on a 50cc honda for 10 bucks a day. Personally the diving on the Phi Phi islands, Don and Lai was better, that was before the Sunami wiped them out, I imagine it's all repaired now.

Keep up the good work, the record is definitely in danger.
Roy
Polishing my crystal ball
  • #339
  • Jan 18, 2007 12:10am Jan 18, 2007 12:10am
2944 long exited for 17. That puts me back to a neutral 4-4. 2947 long showing a profit of 15 and had been up to 28. I'll let that run for the moment. It has no TP yet.
Do not focus on making money; focus on protecting what you have.
  • #340
  • Jan 18, 2007 12:35am Jan 18, 2007 12:35am
I guess what I do here is a trading style of sorts Pipex. After being in the FF shadows for so long I am now enoying this forum more. I guess that's my reward for participation.

An 8 RSI with 14 MA, Roy? Jeeze, I haven't a clue but they sure look pretty don't they? But more importantly I see you're in to diving. Me too. I got to PADI Rescue Diver but I stalled there because Divemaster involves a lot of theory - nearly as bad as forex technical study.

I'm looking forward to my daughter's arrival here in three weeks to do her Bubblemaker course - she's only nine - then next year she'll be allowed to do her Junior Open Water. She's like a fish.

Gentlemen, your posts were much appreciated and I trust you'll both have a great day. And good luck to all the FF community.

Actually, as I write that I remembered what a good friend of mine says. The definition of luck is where ability meets opportunity. Many here have the ability in forex and their trading platform provides them the opportunity for extraordinary profits in this terrific market place. So luck doesn't come in to it. So simply have a great day once again.
Do not focus on making money; focus on protecting what you have.
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