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  • #1,101
  • Jul 15, 2008 2:26am Jul 15, 2008 2:26am
Quoting BillyRayValentine
Same here. I like it and I've been monitoring it for some time now.
does this usd/cad order have the same s/r strength as a no brainer?

i'm still trying to determine what makes a specific trade a no brainer and what makes it a less probability of success trade
  • #1,102
  • Jul 15, 2008 2:54am Jul 15, 2008 2:54am
Quoting rogerdoger
does this usd/cad order have the same s/r strength as a no brainer?

i'm still trying to determine what makes a specific trade a no brainer and what makes it a less probability of success trade
I'll say its a higher probability trade, sure. But again, it could turn into a loser if not properly managed. Quite honestly I'm just a little careful about what I say here sometimes as I know that some others can interpret my words very strongly. I am not personally trading the accounts of the readers of this thread, but trying to stress self-sufficiency through the many numerous examples posted throughout.
  • #1,103
  • Jul 15, 2008 3:03am Jul 15, 2008 3:03am
Dollar getting killed - you can almost jump on any dollar weakness right now.
History is written by the victors.
  • #1,104
  • Jul 15, 2008 3:04am Jul 15, 2008 3:04am
USDCAD is approaching parity. It looks like it's moving strong into it though, not sure if it will bounce. Not sure I would bet against the dollar in any fashion just yet...
  • #1,105
  • Jul 15, 2008 3:09am Jul 15, 2008 3:09am
Quoting ZenTrader
USDCAD is approaching parity. It looks like it's moving strong into it though, not sure if it will bounce. Not sure I would bet against the dollar in any fashion just yet...
Yep, probably a good idea to stay on the sidelines for this one..
  • #1,106
  • Jul 15, 2008 3:37am Jul 15, 2008 3:37am
Afternoon

Cable hit my stop soon after london opened. Managed to flip the Usd/chf and rode it down. The level broke with quite a surge I can't see it making it down any further so i'm closing it out. when these levels go they really do it with a bang. long over due on this pair.
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  • #1,107
  • Edited 4:01am Jul 15, 2008 3:46am | Edited 4:01am
Quoting BillyRayValentine
Short EUR/USD 1.6000 area.

I hope I dont need to explain this one.
This is holding very well actually. +50 so far if you got in right at 1.6000. I'm in at 1.6006 on Oanda (probably 1.6003 other platforms), and just grabbed some partial but I'm expecting a bigger move down from here, even despite tonight's volatility.
  • #1,108
  • Jul 15, 2008 4:00am Jul 15, 2008 4:00am
Billy just wondering what your thoughts are on the Eur/jpy.

It looks like the thing is holding out and this area seems to have acted as previous resistance quite a bit in the past.
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  • #1,109
  • Jul 15, 2008 4:01am Jul 15, 2008 4:01am
That news should help.
  • #1,110
  • Jul 15, 2008 5:09am Jul 15, 2008 5:09am
Quoting Siam
Billy just wondering what your thoughts are on the Eur/jpy.

It looks like the thing is holding out and this area seems to have acted as previous resistance quite a bit in the past.
Hi Siam, very busy today sorry for the late response....the level was definitely good, but again want to get into those right on the mark. Getting in late you could have been burnt. Hope you did you could have scalped twenty something pips off the top.

167.00 - 167.13 looks to be about the next best area.
  • #1,111
  • Edited 7:34am Jul 15, 2008 6:06am | Edited 7:34am
Quoting BillyRayValentine
Long USD/CHF 1.0021 - 1.0013

Its all in the chart......also this is very close to parity.....dont be surprised if price gets pushed down to .9995 looking for it. Just a heads up to be prepared for that.
This finally got hit at 1.0020 for +34 so far. Again not expecting a whole lot though due to the obvious conditions out there today. Parity isnt too far away so just a heads up.

Going to run it as far as possible but protecting before the major events.

Lots of news out today, and Bernanke speaking at 10am est.
  • #1,112
  • Jul 15, 2008 6:18am Jul 15, 2008 6:18am
Quoting BillyRayValentine
Cutting winners short is fine, as long as you're doing the same thing with any losers and you're winning more than you're losing. The longest I usually keep positions open for is around a week or two, depending on the situation. If I don't have a lot of confidence about something I'll usually take a whole bunch off the trade and just let the rest go do its dirty work.

I used to look at trade journals from portfolio managers managing from $100mm - $500mm in assets and in their notes section after a trade was closed was always some type of comment about how they should have left it open for more profits. So dont feel so bad. This is one of the hardest parts about trading in general. There is a post a ways back about taking profits at certain market obstacles to help overcome this issue.

This is a question based more on experience than anything else, unfortunately. Over time you'll be able to see what moves the market a lot more easily, but its still very tough.
Here it is: http://www.forexfactory.com/showpost...&postcount=617

when I posted this I drew the levels pretty quickly so they might be a little off but still you get the idea.
  • #1,113
  • Jul 15, 2008 6:51am Jul 15, 2008 6:51am
some USD pairs profit taking in 10 mins ?
Anybody ? What a night....what a night
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #1,114
  • Jul 15, 2008 7:12am Jul 15, 2008 7:12am
Quoting djambazov84
some USD pairs profit taking in 10 mins ?
Anybody ? What a night....what a night
No kidding what a night. I havent worked this hard in 2 days in a while but atleast its paying off.
  • #1,115
  • Jul 15, 2008 7:57am Jul 15, 2008 7:57am
Quoting BillyRayValentine
Short NZD/USD 0.7781 - 0.7788

Keep in mind price could turn starting at 0.7769 if and when it gets up there, but this is the safer sell. This has been a very hard area for this pair. I have a feeling price will move into the upper portion of this range, and might even overshoot it up to 93, but just a heads up.
modifying the entry level on this lower to .7768 up to .7782

same story though with the volatility today though, news, speech, etc, our rules for entering trades avoids these
  • #1,116
  • Jul 15, 2008 8:04am Jul 15, 2008 8:04am
here's some work music:

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  • #1,117
  • Jul 15, 2008 8:06am Jul 15, 2008 8:06am
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BRV, you should call this the WATERING HOLE method because it's like sitting behind a tree waiting for the herd to stop for a drink. Easy pickens.
"In Fibs I Trust"
  • #1,118
  • Jul 15, 2008 8:11am Jul 15, 2008 8:11am
Quoting xPiP
Attachment

BRV, you should call this the WATERING HOLE method because it's like sitting behind a tree waiting for the herd to stop for a drink. Easy pickens.
I KNOW!!! Thats why I started this thread. I couldnt believe no one else had anything else like this up here!
  • #1,119
  • Jul 15, 2008 8:14am Jul 15, 2008 8:14am
yen heading south on us eq markets open ? could very well hedge the long on the chf
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #1,120
  • Jul 15, 2008 8:17am Jul 15, 2008 8:17am
Quoting djambazov84
yen heading south on us eq markets open ? could very well hedge the long on the chf
very good support at 104.40. wondering if any of the events will blow anything out.
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