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  • #44,141
  • Nov 7, 2008 9:32am Nov 7, 2008 9:32am
The price is being worked up higher. This is Friday, and a bad time to enter trades unless you are also closing them before the end of the session. We could get a gap down on next week's open!

For me, I think they will continue to work this higher. I am anticipating that my next trade will be a short. But I will let them work it to a pinacle before looking for an entry setup.....most likely not until next Monday at the earliest.

Today may be fraught with confusing charts.....things looking good and consistent and then WHAMO ....a quick and big reversal. It could happen. Friday is normally a day for winding things down, so any "good looking" move becomes suspicious. There may be good moves, but that is just enticement to enter the foray on a day when trades should be closed out....and they may trap many that way.
  • #44,142
  • Nov 7, 2008 9:35am Nov 7, 2008 9:35am
Quoting andys0506
Question for any experienced guys here:
Is the US morning session always volatile as like the last 2 days?

Whats the best time to trade the markets, I normally like early in the London seesion. Thats when moves are pretty steady and controlled
I too, don't trade the US session all that much. In the past, I lost more money trading the US session (between 7am est through 12pm est) than any other session. I prefer trading late Asian session (11pm est) through mid-day London session (8am est)

I've made a considerable amount of money trading London session as its not a lot of news that goes on through the London session and I hear it has the largest trading base in the world. I find it a more predictable trading session. As with the US session, their is news all the time, platform frezzes, rapid price action, ect ect ect.

But that is my personal opinion
  • #44,143
  • Edited 10:46am Nov 7, 2008 9:37am | Edited 10:46am
Quoting SerpentDove
When I started out I had the misconception that that it was a struggle to find fair value. OH how naive I was. Trying to find the why behind the moves is 50% of the time, if not more, pointless. The charts, the charts, and nothing but the charts. The moment I stopped looking for what price should do, and focused only on what it IS doing, that is when I started hitting 75-80% winners. I almost exclusively scalp support and resistance bounces now. 8-12 trades a day. I used to dread consolidations, now I welcome them. 1 min charts. To me 15-30 pips IS a home run, I usually take 5 to 10pips and close out and smile. I take the money and run, often.

example Just sold, at 2.841 and took profit at 1.2824...
Fundamental traders have it rough.

There are so many variables that can effect the direction of a market.

When I started being more patient, trading less often and using specific stops and targets I began to win consistently.

I had to unlearn a lot of garbage prior to winning.

My max tp is 30 PIPS and min is 10.

My hit rate is near 80% when I stick to the system.

Mike
  • #44,144
  • Nov 7, 2008 9:54am Nov 7, 2008 9:54am
Quoting acumen
Fundamental traders have it rough.

There are so many variables that can effect the direction of a market.

When I started being more patient, trading less often and using specific stops and targets I began to win consistently.

I had to unlearn a lot of garbage prior to winning.

My max tp is 30 PIPS and min is 10.

My hit rate is near 80% when I stick to the system.

Mike

DAMN IT: The post should read: MY CONCLUSION ALSO. (Can't spell to save my life)
I believe that if you want to trade on fundamentals primarily as your indicator, you need to trade on longer time frames, like days to months.
  • #44,145
  • Edited 10:23am Nov 7, 2008 10:00am | Edited 10:23am
Quoting acumen
DAMN IT: The post should read: MY CONCLUSION ALSO. (Can't spell to save my life)
Wasn't this http://i47.photobucket.com/albums/f200/doblece/edit.gif easier?

I agree with your style (patience - trading less). And your "20-80 psych" is pretty accurate.

Congrats on the 80%!
  • #44,146
  • Nov 7, 2008 10:04am Nov 7, 2008 10:04am
Quoting doblece
Wasn't this http://i47.photobucket.com/albums/f200/doblece/edit.gif easier?

I agree with your style (patience - trading less). And your "20-80 psych" is pretty accurate.

Congrats on the 80%!
Can you edit the Title?

I can't.

Once it hit submit... the title stays unless I delete the entire post... too lazy for that.

Yes... I love my psych levels.
  • #44,147
  • Nov 7, 2008 10:05am Nov 7, 2008 10:05am
hey guys wanna share my testimony.
i have said i wont paste until i made 2000pips a day.today is the D-Day.
ive been a regular trader for the past 2.5yrs and ive been making consistent 150pips a day minimum for the past 1.5yrs.
a word of advise to the new traders.
"the market will always go against thread so dont bet on them" trade what u see on your chart and think like buffett
  • #44,148
  • Nov 7, 2008 10:12am Nov 7, 2008 10:12am
Quoting beejay
hey guys wanna share my testimony.
i have said i wont paste until i made 2000pips a day.today is the D-Day.
ive been a regular trader for the past 2.5yrs and ive been making consistent 150pips a day minimum for the past 1.5yrs.
a word of advise to the new traders.
"the market will always go against thread so dont bet on them" trade what u see on your chart and think like buffett
Grats! (impressed newbie, kind of new anyway) ...and thanks for the tip
  • #44,149
  • Nov 7, 2008 10:13am Nov 7, 2008 10:13am
Quoting acumen
A high % trade that failed.

Why did fail?

It's after 11:00am EST.

That means there are too many little dogs.

These trades are high % trades...but not during the off hours.

m
I've been studying your "20" "00" trades. I noticed something interesting you might want to take a look at. I noticed a lot of the time after price hits the 20 or the 80 it retraces. With that in mind I took an even closer look and noticed that usually goes right to the 50. Sooo.... Why not put a limit order
somewhere around the 50 after price hits either the 80 or the 20 depending
on direction and take partial profit when it hits the 20 and the rest when it hits the 00.

Hopefully I was clear enough. If you go back and look at the chart you posted you'll see what I'm talking about. This might give an even higher win rate. Anyway just something I noticed...

Ok, back to my cave.
  • #44,150
  • Nov 7, 2008 10:14am Nov 7, 2008 10:14am
shorted the planet with +3 locked..
gy at 55.54
ej at 126.00
eu at 28.26

See everyone Sunday on the other side of the gap or at the bottom, whichever comes first.

I'm feeling very apocalyptic today. Watch GM/Chrysler afterhours or over the weekend. Big conferences today with all the new big dogs may offer some hope/help, but I'm not part of that crowd...

If events develop that look rosier, then maybe there'll be some breathing room, but like I said, not hopeful.

I didn't/don't support obama, but he's da new man, and i support the president. the nation has spoken. period. I do wonder if he'll request a recount before very long....


Making mad pips here but I really wish I was feeling better about them. Profitably trading on misery has this weird reciprocal effect. Maybe that's just me tho. Good weekend to all and especially careful at the closing hours...
FUBAR...
  • #44,151
  • Nov 7, 2008 10:14am Nov 7, 2008 10:14am
Quoting beejay
hey guys wanna share my testimony.
i have said i wont paste until i made 2000pips a day.today is the D-Day.
ive been a regular trader for the past 2.5yrs and ive been making consistent 150pips a day minimum for the past 1.5yrs.
a word of advise to the new traders.
"the market will always go against thread so dont bet on them" trade what u see on your chart and think like buffett
Trade like Buffett? I want to be Buffett. I want to own a company who's common A shares a worth over One Hundred Thousand (a share). I want to trade soo big, Foreign contries will roll over and hate me until I die. I would like to own/have a major stake in practically ever major corporation in the country.

Trade like Buffet? Can Buffet and I be best friends?
  • #44,152
  • Nov 7, 2008 10:17am Nov 7, 2008 10:17am
Quoting Russell
I've been studying your "20" "00" trades. I noticed something interesting you might want to take a look at. I noticed a lot of the time after price hits the 20 or the 80 it retraces. With that in mind I took an even closer look and noticed that usually goes right to the 50. Sooo.... Why not put a limit order
somewhere around the 50 after price hits either the 80 or the 20 depending
on direction and take partial profit when it hits the 20 and the rest when it hits the 00.

Hopefully I was clear enough. If you go back and look at the chart you posted you'll see what I'm talking about. This might give an even higher win rate. Anyway just something I noticed...

Ok, back to my cave.
Thanks.

I will go back and look at it.

Mike
  • #44,153
  • Nov 7, 2008 10:18am Nov 7, 2008 10:18am
Quoting Jhig
Trade like Buffett? I want to be Buffett. I want to own a company who's common A shares a worth over One Hundred Thousand (a share). I want to trade soo big, Foreign contries will roll over and hate me until I die. I would like to own/have a major stake in practically ever major corporation in the country.

Trade like Buffet? Can Buffet and I be best friends?
He's not a trader... he's an investor.

Trade like John Arnold.

If you need a mentor... he's your guy.
  • #44,154
  • Nov 7, 2008 10:22am Nov 7, 2008 10:22am
Quoting Russell
Ok, back to my cave.
my kind of guy
FUBAR...
  • #44,155
  • Nov 7, 2008 10:24am Nov 7, 2008 10:24am
Quoting Jhig
Trade like Buffett? I want to be Buffett. I want to own a company who's common A shares a worth over One Hundred Thousand (a share). I want to trade soo big, Foreign contries will roll over and hate me until I die. I would like to own/have a major stake in practically ever major corporation in the country.

Trade like Buffet? Can Buffet and I be best friends?
if u want to be wat u want. u need to think like someone whom already is (walk in his shoe, then the only advantage u will have over him is u are urself but at times it might be ur disadvantage). i dont talk much
  • #44,156
  • Nov 7, 2008 10:24am Nov 7, 2008 10:24am
Quoting acumen
Can you edit the Title?

I can't.
Yes you can.
Go "advanced"...
  • #44,157
  • Nov 7, 2008 10:25am Nov 7, 2008 10:25am
Quoting Russell
I've been studying your "20" "00" trades. I noticed something interesting you might want to take a look at. I noticed a lot of the time after price hits the 20 or the 80 it retraces. With that in mind I took an even closer look and noticed that usually goes right to the 50. Sooo.... Why not put a limit order
somewhere around the 50 after price hits either the 80 or the 20 depending
on direction and take partial profit when it hits the 20 and the rest when it hits the 00.

Hopefully I was clear enough. If you go back and look at the chart you posted you'll see what I'm talking about. This might give an even higher win rate. Anyway just something I noticed...

Ok, back to my cave.
In fact I just got some off that 2780 bounce Another great tip on a great forum.
  • #44,158
  • Nov 7, 2008 10:27am Nov 7, 2008 10:27am
He is an insider. The majority of us would have to travel light years across the chasm that exists between insiders and outsiders in the markets to get the information he gets.
  • #44,159
  • Nov 7, 2008 10:27am Nov 7, 2008 10:27am
Quoting acumen
He's not a trader... he's an investor.

Trade like John Arnold.

If you need a mentor... he's your guy.
what he wants to be a controller not a millionaire alone.so bet it he dont wanna be anorld. he his still trading because he is just starting.so best mentor is buffett but harnold will be good on the way to fast track your movement.im free today so i can talk like neva before.it myt be 2months again
  • #44,160
  • Nov 7, 2008 10:27am Nov 7, 2008 10:27am
Quoting acumen
He's not a trader... he's an investor.

Trade like John Arnold.

If you need a mentor... he's your guy.

Googled "John Arnold" I likie what I see!
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