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The View DownRiver

  • #141
  • Feb 27, 2007 7:36am Feb 27, 2007 7:36am
Coming together is a beginning, staying together is progress, and working together is success.
-- Henry Ford
  • #142
  • Feb 27, 2007 8:05am Feb 27, 2007 8:05am
DRT,

what are you monitoring during the news? Can you be more specific? I do not trade the news either, do not know much about economic factors. But want to hear how you perceive and monitor the news.

For example, durable good was a lot more negative and yet did not generate any "usual" movement. That is my observation. What is yours? How any news impacts your position if any?

Thanks
Quoting DownRiverTrader
Good morning all.

Lot of data on the way shortly. One thing I have noticed is that when there is multiple data that it tends to confuse everyone who trades with other peoples money.

I do not trade based on news. I normally only monitor news for a short time during the day to get an idea of what others are percieving. If you are new and not sure where to get news, I would recommend going to

www.bloomberg.com and clicking on the TV area to launch the video player. (Assuming you are using a high speed connection). What I like about this is that the data always comes a little late and it will help prevent you from making a knee jerk reaction to what others are perceiving.

"Show me a chart and I will tell you the news"

Good luck today everyone. Some nice profits so far on most of our trades. Be nimble.
  • #143
  • Feb 27, 2007 8:12am Feb 27, 2007 8:12am
Lenny,

I dont know about what you are seeing, but the durable goods order news just made my charts hop. ALL my positions increased in profit. I am just monitoring the result of the data. Even though I do not trade based on data announcements, I absolutely trade based on what I percieve that others are thinking.

If you read through the original description of my methodology, you may remember that I do not trade by a system alone. I allow myself complete discretion in making entries, exits and so on. The system is just a guide. If I am near a target area and the data is not favorable, I may go ahead and close a trade and wait to see what happens.

The point is that it is imperative to know what is going on. If you want to be a MasterTrader, you have to equip yourself with the absolute best tools. It should be part of your daily disciplines to monitor what the news and other media are saying.

Quoting Lenny
DRT,

what are you monitoring during the news? Can you be more specific? I do not trade the news either, do not know much about economic factors. But want to hear how you perceive and monitor the news.

For example, durable good was a lot more negative and yet did not generate any "usual" movement. That is my observation. What is yours? How any news impacts your position if any?

Thanks
  • #144
  • Feb 27, 2007 8:22am Feb 27, 2007 8:22am
DRT,

I am just following GBP and EURO today and I do not see that they have moved far after durable goods. As a matter of fact GBP is in the same area as prior to the release.

But that is not relevant. My question is more general in terms of what you are observing during the news? You are a longer term player and perhaps you are looking for something short term data release that impacts your positioning such as targets and/or stops view?

Thank you for your pointers.

Quoting DownRiverTrader
Lenny,

I dont know about what you are seeing, but the durable goods order news just made my charts hop. ALL my positions increased in profit. I am just monitoring the result of the data. Even though I do not trade based on data announcements, I absolutely trade based on what I percieve that others are thinking.

If you read through the original description of my methodology, you may remember that I do not trade by a system alone. I allow myself complete discretion in making entries, exits and so on. The system is just a guide. If I am near a target area and the data is not favorable, I may go ahead and close a trade and wait to see what happens.

The point is that it is imperative to know what is going on. If you want to be a MasterTrader, you have to equip yourself with the absolute best tools. It should be part of your daily disciplines to monitor what the news and other media are saying.
  • #145
  • Feb 27, 2007 8:46am Feb 27, 2007 8:46am
MasterTrader

Things are going extremely well with almost all our River Theory trades so I thought that this is a good time to remind you....

"BE PATIENT WITH YOUR WINNING TRADES"

If you have profit and are starting to get nervous, this is the number on killer of more profit. Be patient, I always ask myself....

DO I HAVE A REASON TO CLOSE THIS POSITION RIGHT NOW?
  • #146
  • Edited 10:52am Feb 27, 2007 10:50am | Edited 10:52am
Allo DRT, first I want to thank you very much for the time that you devote in explaining your way of seeing things. This is very enlightening in all respects and I have read all your posts. You thinking is very sound according to me and you are absolutely right in saying that patience, discipline and knowing onelsef is the mother of success in this business.

Your daily post of the pairs that you trade is a very great tool for me as I use it as a great guide in part of the methodology that i follow.

I do also agree with you that indicators overloads is useless and just make things more confusing.

so, Dear DRT, please continue the good work and will continue to monitor your guidance.

Wishing a very good trading to all

Sincerly

Shreem
  • #147
  • Feb 27, 2007 2:22pm Feb 27, 2007 2:22pm
Today is a great example and lesson of why you always need a plan. Things can get messy and it becomes difficult to react. When you know what to do, you stay confident and execute without hesitation......and make a lot of money too.

Hope everyone is okay.
  • #148
  • Feb 27, 2007 6:13pm Feb 27, 2007 6:13pm
Here are the River Levels for 2-28
  • #149
  • Feb 27, 2007 6:28pm Feb 27, 2007 6:28pm
I'M JUST COMPLETELY IN AWE WITH YOUR COMMITMENT AND THE TIME YOU
ARE PUTTING INTO THE RIVER TRADING. It must require intense time management to trade and complete all the daily analysis to help your fellow trader understand the river system. Please accept my hearty thanks to you and know we all here appreicate all you do. I do have a day job, but the understanding I'm receiveing from your generous analysis each day has given me much confidence to look ahead at maybe going full time at this occupation. So, again thanks my man for your unselfish time given and God Bless!!!!
Kevin

Quoting DownRiverTrader
Today is a great example and lesson of why
you always need a plan. Things can get messy and it becomes difficult to react. When you know what to do, you stay confident and execute without hesitation......and make a lot of money too.

Hope everyone is okay.
  • #150
  • Feb 27, 2007 9:30pm Feb 27, 2007 9:30pm
^^

What he said
  • #151
  • Feb 28, 2007 4:40am Feb 28, 2007 4:40am
Thank you for the kind words. I hope it is helping you.
  • #152
  • Feb 28, 2007 4:42am Feb 28, 2007 4:42am
Good morning everyone. I regret to inform you that I have been asked to stop the links to the website where I am posting the trades. The people here feel I am leeching prospective traffic awayfrom this website. I am not totally sure what they mean since I made the web to supplement the posts here, but none the less I will respect and honor the request.

I will no longer be posting charts in the trading threads. It is just too time consuming for me to do it any other way than at my blog where the files can easily be stored. I do plan to continue my efforts at my blog and I will still keep this journal thread open to help. I just won't be able to post charts all the time.


All the best,
DRT
  • #153
  • Feb 28, 2007 5:40am Feb 28, 2007 5:40am
Quoting DownRiverTrader
Good morning everyone. I regret to inform you that I have been asked to stop the links to the website where I am posting the trades. The people here feel I am leeching prospective traffic awayfrom this website. I am not totally sure what they mean since I made the web to supplement the posts here, but none the less I will respect and honor the request.

I will no longer be posting charts in the trading threads. It is just too time consuming for me to do it any other way than at my blog where the files can easily be stored. I do plan to continue my efforts at my blog and I will still keep this journal thread open to help. I just won't be able to post charts all the time.


All the best,
DRT
DRT,

Sorry to hear that. You were the guy that brought most of the thought provoking ideas to this site as of late. All the other threads on FF have become fairly nonsensical - with too many new kids running around looking for 'the secret formula'. I noticed that many of them did not make the effort to really get into what you were saying here (perspective wise.. not trading method). I guess they were too busy looking at all those "90% accurate /1200 pips a month!!!" system threads. You've got some really great perspectives here - and they're documented. One of these days (probably years from now) a newbie who is looking in all the wrong places now, will accidentally come across some of your posts and be enlightened. One can only hope.

All the best,
MM
  • #154
  • Feb 28, 2007 6:23am Feb 28, 2007 6:23am
[quote=
I will no longer be posting charts in the trading threads. It is just too time consuming for me to do it any other way than at my blog where the files can easily be stored. I do plan to continue my efforts at my blog and I will still keep this journal thread open to help. I just won't be able to post charts all the time.
All the best,
DRT[/quote]

I can understand that it is really time consuming to post in two or more forum. I will visit your blog myself. But for the sake of all fuure new member, do you mind if someone would copy and paste you charts and comments here? Not for my sake - just for the others !

Thanks
  • #155
  • Feb 28, 2007 6:29am Feb 28, 2007 6:29am
Not at all if you can figure it out. That is fine with me as long as it is okay with Alan here.

Quoting highway3000
I can understand that it is really time consuming to post in two or more forum. I will visit your blog myself. But for the sake of all fuure new member, do you mind if someone would copy and paste you charts and comments here? Not for my sake - just for the others !

Thanks
  • #156
  • Feb 28, 2007 7:00am Feb 28, 2007 7:00am
Quoting DownRiverTrader
Good morning everyone. I regret to inform you that I have been asked to stop the links to the website where I am posting the trades. The people here feel I am leeching prospective traffic awayfrom this website. I am not totally sure what they mean since I made the web to supplement the posts here, but none the less I will respect and honor the request.

I will no longer be posting charts in the trading threads. It is just too time consuming for me to do it any other way than at my blog where the files can easily be stored. I do plan to continue my efforts at my blog and I will still keep this journal thread open to help. I just won't be able to post charts all the time.

All the best,
DRT
Thank you very much for all great help! I do not agree with their assesment but what can I say? I am certainly be a frequent visitor to your site.

All the best
  • #157
  • Feb 28, 2007 7:04am Feb 28, 2007 7:04am
Quoting mr.marketz
DRT,

Sorry to hear that. You were the guy that brought most of the thought provoking ideas to this site as of late. All the other threads on FF have become fairly nonsensical - with too many new kids running around looking for 'the secret formula'. I noticed that many of them did not make the effort to really get into what you were saying here (perspective wise.. not trading method). I guess they were too busy looking at all those "90% accurate /1200 pips a month!!!" system threads. You've got some really great perspectives here - and they're documented. One of these days (probably years from now) a newbie who is looking in all the wrong places now, will accidentally come across some of your posts and be enlightened. One can only hope.

All the best,
MM
This is very mean way for the first post on this thread, Mr Professional Trader. Great contribution. Do you just spot good threads to bring your negativism? Did that boost your confidence?
  • #158
  • Feb 28, 2007 7:12am Feb 28, 2007 7:12am
Hello Dear DRT, I am sad to hear that you cannot continue your threads as you wish but be sure that I will continue to visit daily more than once your blog and update on the pairs as your way of seeing things are very very helpful

Thnak again for your great work and commitment to help others

Very much appreciated

shreem
  • #159
  • Feb 28, 2007 7:16am Feb 28, 2007 7:16am
Hey DRT,

I got your site down in my favorits. Actually I would prefer to check your levels on your site, rather than hunt them down in FF.

What is your assesment now, after great big move everywhere except maybe GBPUSD . Is it time to wait and see as things get settle and which way they go from here? Do we expect to build value around new levels? Do we expect to pull back to river or maybe the river will come to us?
I tried a few trades overnight but without great success.
What do you do after a good run like this, do you kee poking or do you sit back and make some time for reflection ?
  • #160
  • Feb 28, 2007 7:42am Feb 28, 2007 7:42am
Irusoh,

Let me make a suggestion for you. Open a seperate practice account somewhere. Use the section I have which gives instructions for setting up your daily charts. Follow the recommendations in the trade threads for your favorite pair exactly. Do this for a couple months and see how you do.

You say you have made a "few" trades overnight. My method does lend itself well to hopping in and out of the forex market. I do not trade this way. I will say that there was a time when I did though.

I think all my recommendations are clear. NOTICE I ALMOST ALWAYS ADVISE THAT " ONLY A MOVE THROUGH AND SETTLE BELOW" type of comment. Settle being the key word.

For the GBP, my view is clear I think. I cut and pasted it below....

The market gave us another buy opportunity today as the market pulled back to River. New longs can be established in the 9608/9588 area. Targeting 9682, then 9776. A move through and settle below River at 9588 and I would cover and stand aside.


Only a move through and settle below River at 9588 would cancel my bullish bias.


I think the market gave you anther buy opportunity again today at 9588 and as of yet at least has not settled below 9588.

I JUST CHECKED AND YOU WOULD BE UP ABOUT 50 points had you done this.



Quoting irusoh
Hey DRT,

I got your site down in my favorits. Actually I would prefer to check your levels on your site, rather than hunt them down in FF.

What is your assesment now, after great big move everywhere except maybe GBPUSD . Is it time to wait and see as things get settle and which way they go from here? Do we expect to build value around new levels? Do we expect to pull back to river or maybe the river will come to us?
I tried a few trades overnight but without great success.
What do you do after a good run like this, do you kee poking or do you sit back and make some time for reflection ?
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