Different opinions highly valued, ignorant to slander.
- #36,101
- Oct 2, 2008 8:20am Oct 2, 2008 8:20am
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
- #36,103
- Oct 2, 2008 8:21am Oct 2, 2008 8:21am
- Joined Jan 2008 | Status: HEY! WHA' HAPPENED? | 15,496 Posts
Not all sins are created equal
- #36,109
- Oct 2, 2008 8:27am Oct 2, 2008 8:27am
- Joined Oct 2008 | Status: Let the market come to you | 2,670 Posts
- #36,113
- Oct 2, 2008 8:34am Oct 2, 2008 8:34am
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
I have strong fib levels at 1.383, maybe it would be good for a short then
multumesc prietene
Edit:Greenspan talking now...careful guys with open positions...
Different opinions highly valued, ignorant to slander.
- #36,117
- Oct 2, 2008 8:44am Oct 2, 2008 8:44am
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
Different opinions highly valued, ignorant to slander.
- #36,119
- Oct 2, 2008 8:45am Oct 2, 2008 8:45am
- | Joined Jul 2008 | Status: Happiness can only come from within | 1,080 Posts
Didn't like the chart I tacked on to my previous post, this one replaces it. Turned the fib a'rd to reflect price direction in extensions instead of retracement mode, as that should be more appropriate to where I think it's going. Mo Down.
If that big nasty long term TL is bothering you, delete the thing and trade the price action. That's what I do sometime. Take your chart, remove the prices, pivots, fibs, TL's, and everything else, and ask yourself "WWJD?" If it looks like a short, drops like a short, and pays like a short, it's probably a short. Sounds overly simplistic, but try that in ADDITION to your other analysis tools and see what changes.
Lose the fear, and trust your eyeballs. Sidelines are fine for certain situations, but get in the water somewhere. Use a smaller lot size if necessary till you get the rhythym. If you're stuck like a deer in the headlites, you're probably oversized or over leveraged. If i'm on the sidelines, there's a mighty good reason for it, and it's not fear.
When reading all these posts about when to get in, and what direction it's headed etc, I look at almost any chart except extremely low TF's and only see the obvious. I'm selling rallies, and staying out of any and all longs under any circumstances. That means no counter trend scalping or anything else like that for me TFN.
I'm not in the "It's really an uptrend still, it's just having a couple thousand pip retracement" crowd." Whatever. Trade your charts, I'm trading mine, and the losers I've had the last week or so were all longs, therefor no more longs for me. I'm currently almost 400 pips on EJ, 250 on GY, and +300 on EU.
I posted several charts over the last few weeks that show price getting to where we are (and beyond), and why. No mysteries, no secrets, no bs. Acumen and Suntrader have done the same.
At some point, all this forum noise will hurt you more than it can possibly help you, and you'll need to turn it off. Try that now and then. If I see someone not posting anymore, I don't assume they blew their account, I assume they pegged their bs-ometer and couldn't take it anymore. Good on 'em.
Crikey! Time to finish this novel, it's dropped 100 pips since I started typing this...
Personally I'm inclined to also agree with you that there no point trading counter rallies at the moment when you can make so many pips going in the direction of the main trend.
I'll wait until it goes to test the 1.38 and then possibly tests the 1.385 levels and then go short from that point.