Daily and weekly, and hourly. I've just been trading options lately because of all the volatility. But i trade spot too sometimes.
- #42,542
- Oct 29, 2008 9:06pm Oct 29, 2008 9:06pm
- Joined Jan 2008 | Status: HEY! WHA' HAPPENED? | 15,496 Posts
Well so much for the shorter term then. Just a difference of opinion is all 
Not all sins are created equal
- #42,545
- Oct 29, 2008 9:19pm Oct 29, 2008 9:19pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #42,546
- Oct 29, 2008 9:21pm Oct 29, 2008 9:21pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #42,548
- Oct 29, 2008 9:30pm Oct 29, 2008 9:30pm
- Joined Jan 2008 | Status: HEY! WHA' HAPPENED? | 15,496 Posts
Buy a Put here and thank me later. (For 2-3 weeks in length)
And if it doesn't go down, what then? Why would you think someone who doesn't even know you would follow your trade based purely on your say so.
Oh thats right, because some dumbasses actually do that.
I'm from the North, you're from the South. We could call it "(Very) North and South". I'm the bull (north) and you're the bear (south)..
Or maybe I should just quit drinking
Not all sins are created equal
- #42,549
- Oct 29, 2008 9:34pm Oct 29, 2008 9:34pm
- Joined Jan 2008 | Status: HEY! WHA' HAPPENED? | 15,496 Posts
Not all sins are created equal
- #42,551
- Oct 29, 2008 9:47pm Oct 29, 2008 9:47pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
SunTrader, we need our own TV show. Let's get that Cramer guy out. What do you say?
But truthfully watching CNBC to follow the markets is like demotrading. You get a feel for it but only real trading is real. Reporters think they know what the deal is but they don't - most of the time. Hell its hard enough for traders these days to know what is going on.
- #42,552
- Oct 29, 2008 9:49pm Oct 29, 2008 9:49pm
- Joined Jan 2008 | Status: HEY! WHA' HAPPENED? | 15,496 Posts
Any idiot can do better than Cramer, so thats not saying much for us if we replaced him.
But truthfully watching CNBC to follow the markets is like demotrading. You get a feel for it but only real trading is real. Reporters think they know what the deal is but they don't - most of the time. Hell its hard enough for traders these days to know what is going on.
Not Cramer but still, I couldn't believe it when this douchebag at CNBC started to argue with Jim Rogers
Inserted Video
Not all sins are created equal
- #42,553
- Oct 29, 2008 9:52pm Oct 29, 2008 9:52pm
I'm a big fan of Roubini.
But even if you don't know him. It's easy. You know Jim Cramer! Well, if Jim Cramer says buy, sell. If he says sell, buy. Cramer said that the sky is blue? Get an umbrella. If he says that 2+2=4, be convinced that it's 5...you get the idea.
"Simplicity is the ultimate sophistication" leonardo da vinci
- #42,554
- Oct 29, 2008 9:58pm Oct 29, 2008 9:58pm
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
Different opinions highly valued, ignorant to slander.
- #42,557
- Oct 29, 2008 10:14pm Oct 29, 2008 10:14pm
- | Joined Oct 2008 | Status: Behaviour changes often | 1,170 Posts
Traders are smartasses
- #42,558
- Oct 29, 2008 10:20pm Oct 29, 2008 10:20pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
I'll remember you said that when its back down to 1.24 buddy.
I still am bearish. But I am waiting for price action to confirm going short once again. You might be right that the top is in place. But even if you are, I for one, would not be thanking you because you said it. And nobody needs to thank me either. WTF would anyone listen to anyone on a forum where to put on a trade is where I have a problem. It is as useless as a back-seat driver when someone knows how to drive a car. And for those who don't know how, they should learn. And not oh gee thank someone for giving them a trade tip.
- #42,559
- Oct 29, 2008 10:42pm Oct 29, 2008 10:42pm
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
Did I say I believe it is going higher. Read back a few pages. And then read back some more. I have been bearish for weeks and weeks. Got on the nerves of some about it.
as far as next week...theres talk of ecb rate cuts if im not mistaken...wont take a genius to figure out what that will do, the question with that is like any fundamentals...is the impact going to be short lived or affect the longer term. the key issues these days is and will be the fear/panic in the markets and the illiquidity...if those improve...in theory it should weaken the dollar...then there is the election....who knows how that will affect things
Different opinions highly valued, ignorant to slander.
- #42,560
- Oct 29, 2008 10:44pm Oct 29, 2008 10:44pm
- Joined Aug 2007 | Status: TARFU... | 7,015 Posts
http://www.forexfactory.com/showpost...ostcount=41907
Above link was posted at 9:47 am on the 27th. I indicated a potential turn was in the making, but would need a few hours for full confirmation. That has since come to pass, but I have no way of knowing for how long that might be the case, nor where the next turn down might be.
I've only taken a few trades since then, one premature long followed by a late short that both got stopped out on GY for a few dozen pips each, and a few shorts today that worked out very well... for the first 50% anyway. I left for the day and the second half of those 3 trades turned back north after the news reaction had worked it's way thru the lower colon of the markets, and I got stopped out for +10-15 pips on each trade. So I wound up leaving MANY pips on the table.. Arrggh sort of, but that was the plan and so be it. I always wonder afterwards if I should change something, but whatever.
I've been studying the signals I thought I was seeing at the time of the linked post with the benefit of hindsight across many TF's as I always do when these things happen, and coming to certain conclusions. One of those conclusions is that I think i get into a certain rhythm and then find it hard to reverse that on short notice. I am my best lagging indicator I guess. I don't feel the moves the same way. The voices aren't talking to me quite as loudly as before (keep it zipped jaywalker...
) or something.
Scalping is no problem, but I'm talking about trades here, that may run for hours or a day or so. So like I said earlier in a different post, "if and when the trend changes, I may not trade for a week." It's really OK to not trade. If I see something I like, I'll jump on it and see what happens. No worries, that's part of getting into the new rhythm and it may cost a few pips. It's also ok to lose a trade, I don't like it, but it works out soon enough.
Not sure what I'm trying to say here, but I know some of you guys have gotten really beat up this last week or 3. Been there, done that, no fun. It's ok to step back and wait for that clarity you don't have right now. Demo, have a beer, trade a microlot or something. Decide if this is really what you're gonna do or if it's just a hobby. That's always a good thing to know.
If it's a hobby, go for it and have fun I guess. But if this is what you're gonna do, then stop and figure out what you have to do different from now on, or you're just setting yourself up again for the next fall by repeating all the things that didn't work the last time. After you figure it all out, then do it.
I think I heard the voices tell me to go short earlier, so I did. The 1hr candle confirmed them and so I'm in for a few. SL is in and TP set for the 1hr Bemac288 (3084ish) I'm going to bed, and I'll see what I caught in the morning. Or not. The Frankenstein open is all yours.
Above link was posted at 9:47 am on the 27th. I indicated a potential turn was in the making, but would need a few hours for full confirmation. That has since come to pass, but I have no way of knowing for how long that might be the case, nor where the next turn down might be.
I've only taken a few trades since then, one premature long followed by a late short that both got stopped out on GY for a few dozen pips each, and a few shorts today that worked out very well... for the first 50% anyway. I left for the day and the second half of those 3 trades turned back north after the news reaction had worked it's way thru the lower colon of the markets, and I got stopped out for +10-15 pips on each trade. So I wound up leaving MANY pips on the table.. Arrggh sort of, but that was the plan and so be it. I always wonder afterwards if I should change something, but whatever.
I've been studying the signals I thought I was seeing at the time of the linked post with the benefit of hindsight across many TF's as I always do when these things happen, and coming to certain conclusions. One of those conclusions is that I think i get into a certain rhythm and then find it hard to reverse that on short notice. I am my best lagging indicator I guess. I don't feel the moves the same way. The voices aren't talking to me quite as loudly as before (keep it zipped jaywalker...
) or something.Scalping is no problem, but I'm talking about trades here, that may run for hours or a day or so. So like I said earlier in a different post, "if and when the trend changes, I may not trade for a week." It's really OK to not trade. If I see something I like, I'll jump on it and see what happens. No worries, that's part of getting into the new rhythm and it may cost a few pips. It's also ok to lose a trade, I don't like it, but it works out soon enough.
Not sure what I'm trying to say here, but I know some of you guys have gotten really beat up this last week or 3. Been there, done that, no fun. It's ok to step back and wait for that clarity you don't have right now. Demo, have a beer, trade a microlot or something. Decide if this is really what you're gonna do or if it's just a hobby. That's always a good thing to know.
If it's a hobby, go for it and have fun I guess. But if this is what you're gonna do, then stop and figure out what you have to do different from now on, or you're just setting yourself up again for the next fall by repeating all the things that didn't work the last time. After you figure it all out, then do it.
I think I heard the voices tell me to go short earlier, so I did. The 1hr candle confirmed them and so I'm in for a few. SL is in and TP set for the 1hr Bemac288 (3084ish) I'm going to bed, and I'll see what I caught in the morning. Or not. The Frankenstein open is all yours.
FUBAR...