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Ask DRT

  • #381
  • Jun 10, 2008 4:08pm Jun 10, 2008 4:08pm
Great to see you back DRT! I enjoy your analysis.
Just digging in the trenches like everyone else!
  • #382
  • Edited 5:30pm Jun 10, 2008 5:04pm | Edited 5:30pm
Quoting DownRiverTrader
Hello everyone. I had some obligations the last couple days. I will get my analysis together soon and get it posted. One thing to point out, if you have a brokerage account with TS and make 10 round turns a month (or something like that) the platform fee is waived. Just have to subscribe to data. Forex data is free at this time. I think I only pay $4 and change for a round turn currency future trade. Very economical.
DRT,

I am looking for a TS broker.
Which broker is that?

Trader8686

Oh, I guess that is TradeStation.com (from your post message)
They don't have free TS demo account like other brokers, though.
So far, I didn' find one anyway.
  • #383
  • Jun 10, 2008 5:17pm Jun 10, 2008 5:17pm
Hello DRT,

Glad you are back. I thought you are upset from something (I thought we are annoying people).

Take care,

TG
  • #384
  • Jun 10, 2008 7:16pm Jun 10, 2008 7:16pm
TS is an introducing broker.

The Futures are cleared through RJ O'Brien. Very good.

The Forex is done through Gain Capital.
  • #385
  • Edited 5:35am Jun 17, 2008 4:33am | Edited 5:35am
GBPJPY for the dragonslayer

Assuming you are are asking over the short term....

Use 212.31 as your guide. Aggressive traders can look to set shorts at this level for a move down to Dynamic Balance at 209.53. If price moves above and holds, look to set longs on a pullback down near the 212.31 area and target 216.73. Exit at this level.




http://www.pdanalysis.com/storage/as...06.17.2008.jpg
  • #386
  • Jun 17, 2008 4:55am Jun 17, 2008 4:55am
alot of thanks to my teacher
If you count on hope in any trade ……. Get out of it
  • #387
  • Jun 17, 2008 1:24pm Jun 17, 2008 1:24pm
hey drt,

do you have a clue why usd/jpy is kind of sitting flat??? is there some kind of news that will move this pair, or is it some consolidation??

thanks
  • #388
  • Jun 17, 2008 7:00pm Jun 17, 2008 7:00pm
Quoting mtrmth
hey drt,

do you have a clue why usd/jpy is kind of sitting flat??? is there some kind of news that will move this pair, or is it some consolidation??

thanks
Stars and moon need to align. When you see ranges small and value building the one thing that you can be fairly certain of is that a move is coming. The auction process has been at work and traders are somewhat in agreement. Now its time to move up or down.
  • #389
  • Jun 17, 2008 7:26pm Jun 17, 2008 7:26pm
Thank you DRT, reading 'yer post for a few weeks now, starting to implement 'yer studies...Trading 6 months and still alive.. studying charts, indicators and news roughly five hours a day.

G*D Bless you and your wallet in the name of Yeshua.

Thanks again,
Rocknme
  • #390
  • Jun 17, 2008 7:30pm Jun 17, 2008 7:30pm
well, full moon tonight, or really close. guess it is time to start howling!!
  • #391
  • Jun 18, 2008 3:54pm Jun 18, 2008 3:54pm
Quoting rocknme
Thank you DRT, reading 'yer post for a few weeks now, starting to implement 'yer studies...Trading 6 months and still alive.. studying charts, indicators and news roughly five hours a day.

G*D Bless you and your wallet in the name of Yeshua.

Thanks again,
Rocknme
That's great rockme. Good luck to you and same to you. Greatest profession in the world, it is worth the sacrifices, including your wallet.
  • #392
  • Jun 19, 2008 10:13am Jun 19, 2008 10:13am
Dave,

The dreaded comdols. Not easy.

AUDUSD

This pair moved above the monthly longest line in trading yesterday and is attempting to build value above this key level. Although there is still an unfilled objective higher at .9662, the downward objective at .9287 remains open also. The distribution has tried to move down and balance the unbalanced bottom of the curve, and to some degree was successful but price has once again moved up. My bias (with caution ) is a move down to balance but it seems as though this is in jeopardy as of this posting.

If you notice, there is a long line around .9550 and it is very close to the same length as the current longest line. If trading moves up and builds in this area, then the distribution will look entirely different.

Here's how I would trade it...

Give it another session to see if we are successful holding and building value above .9473. If we are look to set longs back down ahead of this level and target .9550, then 9619.

If we fail to hold above .9473, then set up short and target .9287. Use the 9473 level as your pivot and entry point.

I am currently short and have been for a few days, but I am in the red now as we have moved up above the MLL. I plan to cover my short if we settle above 9473 area significantly.

http://www.pdanalysis.com/storage/as...06.19.2008.jpg
  • #393
  • Jun 19, 2008 12:48pm Jun 19, 2008 12:48pm
Thank you sir - much appreciated.

FYI - I know you might be reluctant based on some of the comments i have seen, but you should seriously consider a subscription service.

Not only would I likely give it a go - I can tell you that my decision to offer my research out 3 years ago was a very solid biz decision that has increased my income and brought me several managed account clients as a result.

Not sure what your professional endeavors are - just my 2 cents - drop me an email if you would care to discuss further.
  • #394
  • Jun 19, 2008 12:53pm Jun 19, 2008 12:53pm
Yeah, Aussie is a tricky one lately. I have been contemplating shorts based on my insights/chart work and the failure of gold to break above $905.41 - however, the weak U.S. dollar is not helping out this overall plan of attack.

I am waiting for further clues to see how it will play out.
  • #395
  • Jun 19, 2008 2:51pm Jun 19, 2008 2:51pm
I am a staunch capitalist and believe in the freedom to increase an individuals income, but having said that, I am leaning toward socialism when it comes to trade analysis and the sharing concept..


Rocknme
  • #396
  • Jun 19, 2008 4:05pm Jun 19, 2008 4:05pm
I wanted to ask a question that might take a slightly different angle to the norm here in this thread. If it's unwanted, feel free to remove the post.

DRT, how did you raise your trading capital? And how would you advise other traders serious about making the switch to trading for a living to seek out their seed capital?
Never underestimate the powers of the Force.
  • #397
  • Jun 19, 2008 8:05pm Jun 19, 2008 8:05pm
I started with $12,000. Lost 10,000 of it in a little over 2 weeks.

In the two years that followed I added about $30 K more of my own money.

After three years of little profit, I finally seem to get it and since those early days I have never looked back.

I only trade for myself (although others have asked). Today I am at a point where I never need to make another trade in my lifetime. I have all I need. I am very thankful and wouldn't trade the journey for anything and I will never stop trading.
  • #398
  • Jun 19, 2008 8:38pm Jun 19, 2008 8:38pm
Quoting DownRiverTrader
Dave,

The dreaded comdols. Not easy.

AUDUSD

This pair moved above the monthly longest line in trading yesterday and is attempting to build value above this key level. Although there is still an unfilled objective higher at .9662, the downward objective at .9287 remains open also. The distribution has tried to move down and balance the unbalanced bottom of the curve, and to some degree was successful but price has once again moved up. My bias (with caution ) is a move down to balance but it seems as though this is in jeopardy as of this posting.

If you notice, there is a long line around .9550 and it is very close to the same length as the current longest line. If trading moves up and builds in this area, then the distribution will look entirely different.

Here's how I would trade it...

Give it another session to see if we are successful holding and building value above .9473. If we are look to set longs back down ahead of this level and target .9550, then 9619.

If we fail to hold above .9473, then set up short and target .9287. Use the 9473 level as your pivot and entry point.

I am currently short and have been for a few days, but I am in the red now as we have moved up above the MLL. I plan to cover my short if we settle above 9473 area significantly.

http://www.pdanalysis.com/storage/as...06.19.2008.jpg
I am interested in the pair, so please keep me posted about its movements.

Thanks.
Expected the unexpected
  • #399
  • Jun 19, 2008 8:50pm Jun 19, 2008 8:50pm
DRT,

Just in case that you didn't see my comment.
Can you please post today's PDA of GBPJPY?

Thanks a lot.

Trader8686
  • #400
  • Jun 19, 2008 10:31pm Jun 19, 2008 10:31pm
Hello DRT, I am fairly new to FF but I am truly fascinated of your trend distribution analysis. Statistics conquer all
It will be a great pleasure for me if you could provide me with an opinion on your short-term sentiment. Just went long on the Friday Sydney pullback on the Kiwi. Rally this week is bouncing off an inverted Head'n'Shoulders @.7450 level.
Am I just dreaming or we are looking at a swift retest of .77, .78 and .78 ?

Any insight will be much appreciated.
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
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