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  • #41,381
  • Oct 23, 2008 9:31pm Oct 23, 2008 9:31pm
So the Seniors here.......still in favour of bear?

Give me some lights..................
  • #41,382
  • Oct 23, 2008 9:32pm Oct 23, 2008 9:32pm
Quoting Jay Walker
The upside down seeing eye or Conan? I still have both somewhere. Why do you ask?
conan of course. cracked me up. I'd sit here many nights and just cackle every time I saw you post. you and jerry had a certain effect on me... helped to make me what I am today..

FUBAR...
  • #41,383
  • Oct 23, 2008 9:33pm Oct 23, 2008 9:33pm
Quoting FXraider
So the Seniors here.......still in favour of bear?

Give me some lights..................
Yes. Look at the monthly chart. I'm just waiting before I get back in.

Edit: Some light. Mmmmm...I'll get back in if it hits 2728 but I'm an example of what not to do
Not all sins are created equal
  • #41,384
  • Oct 23, 2008 9:36pm Oct 23, 2008 9:36pm
Quoting ak4x
conan of course. cracked me up. I'd sit here many nights and just cackle every time I saw you post. you and jerry had a certain effect on me... helped to make me what I am today..

Conan will return eventually
Not all sins are created equal
  • #41,385
  • Oct 23, 2008 9:36pm Oct 23, 2008 9:36pm
Quoting TradeWell
That's a strong line so i think you are likely correct.
I guess time will tell
  • #41,386
  • Oct 23, 2008 9:39pm Oct 23, 2008 9:39pm
gy making new lows.. the cruise is just getting started..

shorted the S1 retrace all 3 pairs, leaving gy to run for awhile from 55.20. closed the others for quick 40 each. this is great trading...

oops. 30 on eu, 40 on ej
FUBAR...
  • #41,387
  • Oct 23, 2008 9:40pm Oct 23, 2008 9:40pm
Quoting felixcatwa
Point & Figure Chart can eliminate the insignificant price movements which bar or candle produce noisy. This chart allows to identify supply and demand relationship.
Chart time scale goes all the way back to 1980. Pretty good considering trading of Euro came into being in 1998??
  • #41,388
  • Oct 23, 2008 9:43pm Oct 23, 2008 9:43pm
Are there chances of it getting to S2? (1.2658)
  • #41,389
  • Oct 23, 2008 9:43pm Oct 23, 2008 9:43pm
There, the Asian session traders did it! I thought the takedown would be to around 1.2792, but they went down to 1.2761. The last 60 pips or so was a time of consistently over average relative volume, having me think they were loading on long positions in the last stages of this takedown. It remains to be seen if this senario continues.....with a bull run up during the remainder of the sessions until the close for the weekend. If so, my hypothesis remains that the professional traders will be selling to the retailers on the way up. And if the retail longs do not vacate their long positions before the close, they may be faced with a gap down on the open next week......
  • #41,390
  • Oct 23, 2008 9:46pm Oct 23, 2008 9:46pm
Quoting traderathome
There, the Asian session traders did it! I thought the takedown would be to around 1.2792, but they went down to 1.2761. The last 60 pips or so was a time of consistently over average relative volume, having me think they were loading on long positions in the last stages of this takedown. It remains to be seen if this senario continues.....with a bull run up during the remainder of the sessions until the close for the weekend. If so, my hypothesis remains that the professional traders will be selling to the retailers on the way up. And if the retail longs do not vacate their long positions before the close, they may be faced with a gap down on the open next week......
Wow...BULL TRAP?
  • #41,391
  • Oct 23, 2008 9:46pm Oct 23, 2008 9:46pm
Quoting ak4x
Huh. I always thought that was like a \"paint by numbers\" thingy. Learn somethin new every week.

Hey there felix, you keep saying \"we\" and \"our\"... is there more than one of you??

P&F is a very useful tool to predict long-term price direction. I just want to state "we" as traders.
  • #41,392
  • Oct 23, 2008 9:48pm Oct 23, 2008 9:48pm
Suntrader you may pull P&F from stockcharts.com

symbol: FXE , then change scale method to User defined and box size 0.5
same to symbol:$USD.

Have fun!

Felix
  • #41,393
  • Oct 23, 2008 9:51pm Oct 23, 2008 9:51pm
Quoting misterboy
Are there chances of it getting to S2? (1.2658)
chances are better that it will than that it won't imo. GY just made new lows, and unless it gives that up, it will drag everything down with it.

1hr qqe hopefully will cross on the next hourly close and that should seal the deal... just busted the 138% ext as well, whereas it bounced 7 hrs ago for 550 pips.

so yeah, outlook is good. I'm trading it anyway. BUT if you read previous posts, there's some support stuff to get thru first...

READ THIS!!
OOOPS!! Just saw you said S2. I had M1 on the brain. I'm pretty confident about M1, S2 is ceratinly possible but that's getting out there aways for asia anyway. Not saying anything past that for now. so a little bit of a caveat and apology for being a little zoned out right now. Sorry.
FUBAR...
  • #41,394
  • Oct 23, 2008 10:05pm Oct 23, 2008 10:05pm
Quoting ak4x
chances are better that it will than that it won't imo. GY just made new lows, and unless it gives that up, it will drag everything down with it.

1hr qqe hopefully will cross on the next hourly close and that should seal the deal... just busted the 138% ext as well, whereas it bounced 7 hrs ago for 550 pips.

so yeah, outlook is good. I'm trading it anyway. BUT if you read previous posts, there's some support stuff to get thru first...

READ THIS!!
OOOPS!! Just saw you said S2. I had M1 on the brain. I'm pretty confident about M1, S2 is ceratinly possible but that's getting out there aways for asia anyway. Not saying anything past that for now. so a little bit of a caveat and apology for being a little zoned out right now. Sorry.
No problemo..Im not trading live so even if I trade, it wont cost me anything since im on demo.
  • #41,395
  • Edited 10:17pm Oct 23, 2008 10:08pm | Edited 10:17pm
I draw my pivot point lines manually. Just to confirm, M1 is in between the pivot point and S1 right?
  • #41,396
  • Oct 23, 2008 10:10pm Oct 23, 2008 10:10pm
Quoting ak4x
...
OOOPS!! Just saw you said S2. I had M1 on the brain. I'm pretty confident about M1, S2 is ceratinly possible but that's getting out there aways for asia anyway. Not saying anything past that for now. so a little bit of a caveat and apology for being a little zoned out right now. Sorry.
M1 also lines up nicely with the previous session low at 2726.

Wish I would have held my short from 2997.
  • #41,397
  • Oct 23, 2008 10:22pm Oct 23, 2008 10:22pm
And down we go...
  • #41,398
  • Oct 23, 2008 10:25pm Oct 23, 2008 10:25pm
30% off the last add-on short on GY at 54.50 for 70pips, rest to run.

Ya know, I'm hoping everyone realizes I'm trying to give some real time examples of how, why, and when I scale out of open trades as oppposed to closing them outright at a TP.

There's been so many posts about exiting too early, losing profits, or having a winner go negative and hit SL after being up x pips. I happen to believe that's one of the easiest things to fix in trading. Greed will keep you from doing it tho. Hopefully this will show you how to manage greed along with profits.

It's not just getting that great entry, but what you do with it afterwards that counts as well. Hopefully this will help someone get inspired to start protecting their hard earned profits differently.

I'm posting a shot of my currently running trades. The big retrace stopped out a bunch of even smaller ones earlier today at anywhere from a couple hundred to 50 pips depending on the entry. Most of them were from .10 to .30 of original minilot size. So tonite, I'm trying to restock the store, and that's why the remaining lot sizes are higher than they will be tomorrow for instance. The earlier 2 retrace shorts were fixed profit scalps and I closed them for 70 pips total. Open trade time was only a few minutes, and done.

You can see the margin amount is a fraction of account size, so MM is taken care of as well using this method. Exposure time is much shorter once you start clearing margin off and banking profits. Profits are displayed as pips, instead of $$.

Believe me, I have other things to do here than toot a horn. I can stop any time and put the time it takes to post this stuff to good use.

PS, before someone goes off on me for not having a SL. I take them off while trading and use the multi hundred pip cushion as SL. That helps me to ID the more critical trades out of the pile when it gets busy. I reset them before knocking off.
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FUBAR...
  • #41,399
  • Oct 23, 2008 10:27pm Oct 23, 2008 10:27pm
Quoting misterboy
it wont cost me anything since im on demo.
losing always costs something my friend... but I hear you.
FUBAR...
  • #41,400
  • Oct 23, 2008 10:30pm Oct 23, 2008 10:30pm
Quoting misterboy
I draw my pivot point lines manually. Just to confirm, M1 is in between the pivot point and S1 right?
no, between S2 and S1. look back to around 5pm on the previous pages . i posted the daily pivots there somewhere

I'm knocking off for a few hours. 3hrs sleep each of the last 3 days... i'm goin stoopid here.

trade careful and watchout for the frankie headfakes... g'nite
FUBAR...
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