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Cesarnc's market talk, gossips, rumours & fun

  • #6,661
  • Mar 18, 2008 10:25pm Mar 18, 2008 10:25pm
OK I have to share this with somebody, breaking a major taboo of mine but just so you can get an idea of what I've been going through today. Notice the top trade is literally 5-6 pips from the top (in a 400 pip range day). Because I knew with very decent probability that the fade would happen, I hung on to a 300 pip loss and now its precisely the same amount but in reverse. Courageous, yeah.. I barely maintained bladder control. And my broker is going to wet his pants tomorrow morning

Good luck.

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Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #6,662
  • Mar 18, 2008 10:47pm Mar 18, 2008 10:47pm
as i look at that picture cesarnc some will say let's run down to that beach and get one of those women, i say lets walk down to that beach and get all of them, if you know what i mean.
If I Go Broke Trying Then I Will die happy.
  • #6,663
  • Mar 18, 2008 11:10pm Mar 18, 2008 11:10pm
I was selling off gbp/jpy shortly before the FED announced the rate cut, didn't lock my winnings and didn't even move my stop loss under the entry price to secure some of the profit and .... well what happened after that we all know, the SL (201.57) got hit (the price reached to 201.83) and I took a major loss with it. I can't believe that lowering the rates with whole 0.75 % can be seen as a positive sign in the carry trades ... or Lehman and Goldman have less losses as expected and that should be good news. Can someone please elucidate on how such a huge rate cut, which is a sign of a desperate monetary policy, can take the pound to those heights ?
  • #6,664
  • Mar 18, 2008 11:28pm Mar 18, 2008 11:28pm
Quoting Pirin
I was selling off gbp/jpy shortly before the FED announced the rate cut, didn't lock my winnings and didn't even move my stop loss under the entry price to secure some of the profit and .... well what happened after that we all know, the SL (201.57) got hit (the price reached to 201.83) and I took a major loss with it. I can't believe that lowering the rates with whole 0.75 % can be seen as a positive sign in the carry trades ... or Lehman and Goldman have less losses as expected and that should be good news. Can someone please elucidate on how such a huge rate cut, which is a sign of a desperate monetary policy, can take the pound to those heights ?
Sorry to hear that. I kept my S/L's in the +, got hit so not much to complain about had one loss on CHF. MF should have gathered strength but it had to bend over to the $ but then again I'm not complaining. One thing I've learned is MM. Yeah, I know how sick and tired everyone is (even I'm sick and tired of repeating MM) but I stick to it. No matter how good a trade looks. I've been down that road were I thought I was going to make a killing and next thing you know, that markets turned against my position.

So, take it as a learning experience and move on. There will be others. There are no lions in Forex, just some lucky hyena's who get there share of the market.
Humble Lifetime Member
  • #6,665
  • Mar 19, 2008 12:19am Mar 19, 2008 12:19am
man thats is beautifull word....i adore...



Quoting Ash
just some lucky hyena's who get there share of the market.
"Analysis Is Hard But Trade Is Easy"
  • #6,666
  • Mar 19, 2008 12:22am Mar 19, 2008 12:22am
Quoting DutchTrader
I stopped caring, just give me my motherfucking pips. Please.

AMEN!!!!
Just Trade It
  • #6,667
  • Mar 19, 2008 12:25am Mar 19, 2008 12:25am
Quoting MPP
starting from the left ------ and working my way across, no i'm not picking one, i'm starting from the left and working my way across.

We'll I was trying to be nice by taking the blondes and leaving the rest for all the others, But I like your strategy better.

Just like the Drug the bear on the bridge trading strategy.
Just Trade It
  • #6,668
  • Mar 19, 2008 12:33am Mar 19, 2008 12:33am
Quoting Moe
as i look at that picture cesarnc some will say let's run down to that beach and get one of those women, i say lets walk down to that beach and get all of them, if you know what i mean.
How about just send them all our beach house......

HOLLA
  • #6,669
  • Mar 19, 2008 1:18am Mar 19, 2008 1:18am
Quoting Ash
Sorry to hear that. I kept my S/L's in the +, got hit so not much to complain about had one loss on CHF. MF should have gathered strength but it had to bend over to the $ but then again I'm not complaining. One thing I've learned is MM. Yeah, I know how sick and tired everyone is (even I'm sick and tired of repeating MM) but I stick to it. No matter how good a trade looks. I've been down that road were I thought I was going to make a killing and next thing you know, that markets turned against my position.

So, take it as a learning experience and move on. There will be others. There are no lions in Forex, just some lucky hyena's who get there share of the market.
Yeah.. i lost -150 pips yesterday trying to short this MF on a couple of positions. I was lucky that Victoria's Secret Fashion Show 2007 was being re-run again on TV (keep me out of my lappie for a while and able to wake up just in time to short (for the 6th time) the h1 pin bar on the top. Bring me back to green again.
  • #6,670
  • Mar 19, 2008 1:29am Mar 19, 2008 1:29am
Quoting Pirin
I was selling off gbp/jpy shortly before the FED announced the rate cut, didn't lock my winnings and didn't even move my stop loss under the entry price to secure some of the profit and .... well what happened after that we all know, the SL (201.57) got hit (the price reached to 201.83) and I took a major loss with it. I can't believe that lowering the rates with whole 0.75 % can be seen as a positive sign in the carry trades ... or Lehman and Goldman have less losses as expected and that should be good news. Can someone please elucidate on how such a huge rate cut, which is a sign of a desperate monetary policy, can take the pound to those heights ?
Small piece of advice: don't use hard stops. You can set disaster stops to protect you if the lights go out and you cant access your broker, but IMHO if you enter manually, exit manually. Time stops are a common option to begin with.. give yourself a timeframe in which the trade is accomplished. If it is not, close it. Usually this will at least let it swing back your way a little if not even put you in profit. The problem is that if you do wait for it to return and it DOES return, you must recalculate your TP based on what happened. This may sound a bit complicated but it really isn't.

You entry was perfectly logical and you shouldnt blame yourself. Just try to keep your cool when the shit hits the fan. Good luck.

PS: how's it feel like to be out of jail? popular with the chicks now eh, you rogue trader you
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #6,671
  • Mar 19, 2008 1:40am Mar 19, 2008 1:40am
Thanks for the advices guys. I appreciate it.
  • #6,672
  • Mar 19, 2008 2:01am Mar 19, 2008 2:01am
Quoting Plutonite

PS: how's it feel like to be out of jail? popular with the chicks now eh, you rogue trader you
He's not talking about that due to the "soreness" of the situation.
Let's just say they don't have liquid soap dispensers in France yet.
Just Trade It
  • #6,673
  • Mar 19, 2008 2:04am Mar 19, 2008 2:04am
So, back to normal anyone ? (strong euro and jpy, weak $)
Measure twice, cut once
  • #6,674
  • Mar 19, 2008 2:21am Mar 19, 2008 2:21am
Do you guys think that the FED is alone on this one and the investors confidence in the economy has turned to 180 degrees after the consecutive rate cut ?
  • #6,675
  • Mar 19, 2008 2:26am Mar 19, 2008 2:26am
Quoting Pirin
Do you guys think that the FED is alone on this one and the investors confidence in the economy has turned to 180 degrees after the consecutive rate cut ?

Well I'm a trader and I don't have confidence in the markets yet, so no.

To quote Dutchtrader

"I stoped caring, just give me my motherfucking pips" Dawg.
Just Trade It
  • #6,676
  • Mar 19, 2008 2:30am Mar 19, 2008 2:30am
no...the news from usa will still suck, ...it takes some time before it effects economy,..u cant expect evrything will get back to normal if they cut rates,...and by the way, how could u not know that cuting rates help carries,...hm, if u would play cfds, u would understand, since if u are long in cfds (which is stocks) then u pay less interests if the rates are less then they were before,...and if u are short, u received less interests if they cut them,...so thats what they want to do, they want ppl to be long, stay long overnight or overweekends, thats how they are saving economy with a big smile on their face...
its just money
  • #6,677
  • Mar 19, 2008 2:35am Mar 19, 2008 2:35am
Quoting Big Wave Rider
Well I'm a trader and I don't have confidence in the markets yet, so no.

To quote Dutchtrader

"I stoped caring, just give me my motherfucking pips" Dawg.

As an investor, would you accept any "good signs" for the dollar? What signs would readjust your believes? Might be a bit vague question, but hope you understand the point.
Measure twice, cut once
  • #6,678
  • Mar 19, 2008 2:35am Mar 19, 2008 2:35am
So much frenzy about the US, didn't even see UK was releasing the minutes. 7-2 hold, 150 pips down the road :
  • #6,679
  • Mar 19, 2008 2:40am Mar 19, 2008 2:40am
Quoting aediaz1
As an investor, would you accept any "good signs" for the dollar? What signs would readjust your believes? Might be a bit vague question, but hope you understand the point.
A consistent Dow Jones growth and a GDP growth for the quarter would be a good start.
  • #6,680
  • Mar 19, 2008 2:47am Mar 19, 2008 2:47am
Something tells me that convincing world-wide investors with an stabilization in the US economy would not be a job for the fainthearted.
Measure twice, cut once
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