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Trading Like A Sniper

  • #21
  • Aug 5, 2008 2:55pm Aug 5, 2008 2:55pm
Sorry but we seem to have gotten off on the wrong foot so to speak. I was just having a little fun and it got carried away. Carry on..

Just to let you know, I am not obsessed with forex. It takes me less than 8 hours a week to do what I do and I average quite well. I am just not the type who has to make trade calls to prove anything.

As a matter of fact we are running a little friendly competition this month if you are interested in joining us. Live or demo it doesn't matter. Your choice but it is the only time anyone will ever see me post one of my account statements. We may even extend it out for several months to accomodate trading styles like yours.


why not entertain the masses with some of your picks for july? I realize you said you weren't available to make the trades but it would start to show people how you make your selections and begin to get people to start thinking your way. Just an idea.
  • #22
  • Aug 5, 2008 2:57pm Aug 5, 2008 2:57pm
Did this thread end up in the rookie section????
  • #23
  • Edited 4:55pm Aug 5, 2008 4:36pm | Edited 4:55pm
Quoting magnumfreak
Did this thread end up in the rookie section????
It is too bad. I hope he is not too insulted to post his trades. Bad move by the admin in my book......with all do respect of course.

Too bad you are being crucified.


edit: Bad decision was the wrong choice of words. The decision to move this thread here makes no sense to me is what i was trying to say. MMaybe it is because they think that you are among the better traders and can answer questions for newbies....it is just in how you look at it. . I am still looking forward to your signals.
"Keep your eyes on the helpers" - Mr. Rogers
  • #24
  • Edited 4:57pm Aug 5, 2008 4:39pm | Edited 4:57pm
Quoting magnumfreak
Sorry but we seem to have gotten off on the wrong foot so to speak. I was just having a little fun and it got carried away. Carry on..

Just to let you know, I am not obsessed with forex. It takes me less than 8 hours a week to do what I do and I average quite well. I am just not the type who has to make trade calls to prove anything.

As a matter of fact we are running a little friendly competition this month if you are interested in joining us. Live or demo it doesn't matter. Your choice but it is the only time anyone will ever see me post one of my account statements. We may even extend it out for several months to accomodate trading styles like yours.


why not entertain the masses with some of your picks for july? I realize you said you weren't available to make the trades but it would start to show people how you make your selections and begin to get people to start thinking your way. Just an idea.
freindly competition in Forex....don't you think that is just about the biggest auxymoron ever stated? . I am here to take your money...plain and simple, nothing friendly about my intentions
"Keep your eyes on the helpers" - Mr. Rogers
  • #25
  • Aug 5, 2008 5:26pm Aug 5, 2008 5:26pm
Quoting damonl
The decision to move this thread here makes no sense to me is what i was trying to say. MMaybe it is because they think that you are among the better traders and can answer questions for newbies....
That's undoubtedly the reason.

His personal warmth and gentle sense of self-deprecating humor will surely encourage us all to ask lots of questions.
  • #26
  • Aug 5, 2008 5:37pm Aug 5, 2008 5:37pm
Totally...
  • #27
  • Aug 5, 2008 6:11pm Aug 5, 2008 6:11pm
Quoting opie999
That's undoubtedly the reason.

His personal warmth and gentle sense of self-deprecating humor will surely encourage us all to ask lots of questions.
I've found him to be very generous. it is some others warmths that have posted that I question.

and...everyone has there own sense of humor. how boring would it be if we were all robots and laughed at the same jokes?
"Keep your eyes on the helpers" - Mr. Rogers
  • #28
  • Aug 5, 2008 6:13pm Aug 5, 2008 6:13pm
Quoting Rabid
Totally...
totally what? your welcome to his thread was not exactly a warm welcome....was it?
"Keep your eyes on the helpers" - Mr. Rogers
  • #29
  • Aug 5, 2008 8:15pm Aug 5, 2008 8:15pm
Quoting damonl
totally what? your welcome to his thread was not exactly a warm welcome....was it?
He was obviously kidding. A little jab in the ribs to ascertain OP's sense of humor. You're right about at least one thing though, we don't all laugh at the same jokes. In fact, some take themselves too seriously to laugh at anything and that is not healthy.

Good luck, damon. I sincerely look forward to seeing some excellent, no, outstanding trading documented in this thread.
  • #30
  • Edited 6:46pm Aug 7, 2008 3:16pm | Edited 6:46pm
Many USD pairs seem prepared for a correction, but i missed some entries. If they correct for a few months we will have more opportunities, but not forgetting that the USD is doomed so, don't worry.

The only opportunity i see in my 9 pairs is...


Short Eur / Gbp 0.7886 SL 0.7956

(August 7th 4:14 PM EST)

Risky Trade considering the Uptrend,

however momentum looks strong to smash the major support.

http://img398.imageshack.us/img398/7052/print001le3.jpg


The key word here is Failure.


After a long consolidation it seems that some ppl is starting to lose their patience and someone will get out of the boat, for now.

In previous attempts to break the support, the price started very high and considering it dropped fast, eventually would lose steam at the end. This time we see a failure at lower levels and the momentum should send this to support, then we'll see.

At support, even if we see a green candle but little, don't panic, just prepare to get out.

The only problem for now is that we might get a bullish candle in the next days if the market start to put a little symmetry on this.

This means that the price can go to near the beggining of the failure making a green candle tomorrow, and then drop in a more "curvy way" and hit support by the middle of the month. Lets see.

I think the damage is already made, i will just worry of how fast it goes up, if it goes.

I will jump out, as soon as i see trouble, but i'm going for a few hundred pips down in the next weeks.
  • #31
  • Aug 7, 2008 6:22pm Aug 7, 2008 6:22pm
Quoting opie999
He was obviously kidding. A little jab in the ribs to ascertain OP's sense of humor. You're right about at least one thing though, we don't all laugh at the same jokes. In fact, some take themselves too seriously to laugh at anything and that is not healthy.

Good luck, damon. I sincerely look forward to seeing some excellent, no, outstanding trading documented in this thread.
kidding or not, it is all about respect for someone elses thread and first impressions.

and...it was not obvious to me that he was just kidding. Good luck to you as well my friend.
"Keep your eyes on the helpers" - Mr. Rogers
  • #32
  • Aug 7, 2008 6:24pm Aug 7, 2008 6:24pm
Quoting Warper
Many USD pairs seem prepared for a correction, but i missed some entries. If they correct for a few months we will have more opportunities, but not forgetting that the USD is doomed so, don't worry.

The only opportunity i see in my 9 pairs is...


Short Eur / Gbp 0.7886 SL 0.7956

(August 7th 9:14 PM EST)

Risky Trade considering the Uptrend,

however momentum looks strong to smash the major support.

http://img398.imageshack.us/img398/7052/print001le3.jpg


The key word here is Failure.


After a long consolidation it seems that some ppl is starting to lose their patience and someone will get out of the boat, for now.

In previous attempts to break the support, the price started very high and considering it dropped fast, eventually would lose steam at the end. This time we see a failure at lower levels and the momentum should send this to support, then we'll see.

At support, even if we see a green candle but little, don't panic, just prepare to get out.

The only problem for now is that we might get a bullish candle in the next days if the market start to put a little symmetry on this.

This means that the price can go to near the beggining of the failure making a green candle tomorrow, and then drop in a more "curvy way" and hit support by the middle of the month. Lets see.

I think the damage is already made, i will just worry of how fast it goes up, if it goes.

I will jump out, as soon as i see trouble, but i'm going for a few hundred pips down in the next weeks.
thanks, and i am not good at predicting trades yet tha tmay run past 125 + pips, so i am looking forward to taking this trade with you and we'll see what happens. I will keep the risk low as you mentioned.

Please keep me up to date with any new developments....
"Keep your eyes on the helpers" - Mr. Rogers
  • #33
  • Aug 9, 2008 2:09pm Aug 9, 2008 2:09pm
+55 pips so far. At some point would you move your s/l to b/e+1 or so or would you just leave this trade alone at this point in time?
"Keep your eyes on the helpers" - Mr. Rogers
  • #34
  • Aug 9, 2008 2:57pm Aug 9, 2008 2:57pm
Good trade. UBS made a somewhat similar recommendation few days ago to sell at 7918 targeting 7400.
  • #35
  • Aug 9, 2008 3:23pm Aug 9, 2008 3:23pm
Quoting good
Good trade. UBS made a somewhat similar recommendation few days ago to sell at 7918 targeting 7400.
What is UBS?
"Keep your eyes on the helpers" - Mr. Rogers
  • #36
  • Aug 9, 2008 3:26pm Aug 9, 2008 3:26pm
UBS is the swiss banking giant.
Their analysis is here-

http://fxtrade.oanda.com/resources/u...Strategy.shtml
  • #37
  • Aug 9, 2008 3:45pm Aug 9, 2008 3:45pm
Quoting good
UBS is the swiss banking giant.
Their analysis is here-

http://fxtrade.oanda.com/resources/u...Strategy.shtml
thanks
"Keep your eyes on the helpers" - Mr. Rogers
  • #38
  • Edited 7:18pm Aug 10, 2008 5:48pm | Edited 7:18pm
Quoting damonl
+55 pips so far. At some point would you move your s/l to b/e+1 or so or would you just leave this trade alone at this point in time?
hi damonl

I don't trail stops, much less to BE.

Trailing a stop to B/E looks good, but in fact is just putting a stop in a bad and almost random place that has nothing to do with a possible bias change.

I get out if i see something that changes my bearish bias, until then and unless we see a powerful move, the bias should not change with the price below 0.7950
  • #39
  • Aug 11, 2008 7:08pm Aug 11, 2008 7:08pm
Quoting Warper
Short Eur / Gbp 0.7886 SL 0.7956
good call Warper. I will try to pick the next in my super-mini account.

congratulations.


um pouco envergonhado hoje depois que dois brasileiros fizeram merda aí em Portugal. Abateram o sujeito igual Counter Strike


um abraço.
  • #40
  • Edited 10:20pm Aug 12, 2008 9:00pm | Edited 10:20pm
It seems that the situation has changed, and i will have to make a move on this trade.

The reason i didn't pulled the plug yet, is because i think that this upward move didn't allowed for the down momentum to properly dissipate.

So in order for me to consider a good bullish signal, i would like to see the price hold around here for a day or 2, and then move.


I remember when i said that B/E stops don't make sense, but in this case it is a good place to put it now.

The reason to put the stop around b/e at this point its not really because its B/E, but in fact is around an area of danger for the bearish scenario.

Since i'm considering this green candle a little overdone, a stop above it is the limit where i can still consider an aceptable bearish scenario.

But as i said, its better to look directly in case the price ends up eating the stop, but making a doji and getting back down. Thats why i don't trail, i just watch. Stops are only good when we are sleeping.

Too good i did shorted this at a good price, so its not a problem to endure this up days.

Remember, just like i said in my first post in this thread.

Good price its good values. Forget about buying or selling breakouts at any price.

Buy low, Sell high!

My experience has told me that if you get a good price, even if you get the overall scenario wrong... its almost impossible to lose.

This is a good example. It doesn't matter if ppl tells you to only sell this pair when the major support breaks. BS.

This price where i shorted it, its the only price that allows us to get out with no loss and a bit of profit if we want, but giving the advantage of major profit if everything goes right.
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