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  • #45,421
  • Nov 14, 2008 6:49am Nov 14, 2008 6:49am
US opens in 13 minutes, look at the top left of THIS page - you will see expandable links to all markets (I think AK4 pointed that out a few days back).
  • #45,422
  • Nov 14, 2008 6:51am Nov 14, 2008 6:51am
LOL, I live close to NY it starts when I wake up.
Redefining Reality
  • #45,423
  • Nov 14, 2008 7:00am Nov 14, 2008 7:00am
Quoting piptechnician
I'm back to even from yesterday's little drawdown.
I hear you there PT..

that last spike cleaned up a couple shorts that were underwater for a couple pips each. now the winners are making hay instead of carrying their dead buddies.

I really hate drawdowns, but it always reminds me just how inconsequential we are in this thing. long as I'm in the trend i can at least go to sleep for a few.

1hr QQE about to cross down on GY so that should help speed things along. Let the fun//pain begin.
FUBAR...
  • #45,424
  • Nov 14, 2008 7:05am Nov 14, 2008 7:05am
Is my understanding right that if the price has spiked down it has taken out lots of stops from current long trades. Once these trades have been stopped out it would then look to continue up without these people being on board?
  • #45,425
  • Nov 14, 2008 7:07am Nov 14, 2008 7:07am
I don't know how this is going to sound to some of you.

Yesterday's close correlation with the stock market put some serious questions in my head that I won't get into because this is not the place to write a book. Correlations obviously change with time but yesterday seemed a bit unique to me for many reasons. Upon seeing the overnight range the questions are now screaming at me.

I am spending my morning before the US Stock Market Open working on stock indices and applying the standard lines we all use to those charts. When equations are being rebalanced I want to understand for myself with my own conclusions how best the small trader can benefit.
Redefining Reality
  • #45,426
  • Nov 14, 2008 7:08am Nov 14, 2008 7:08am
Quoting eddiemiller
2 Hours 15 mins to what could be very good for the EUR.....

9:30am USD High Impact Expected Core Retail Sales m/m

9:30am USD High Impact Expected Fed Chairman Bernanke Speaks

9:30am USD High Impact Expected Retail Sales m/m

.... but watch the spike.
If the time zone you are referring to is ET, my calendar shows 8:30 am....and Trichet will be speaking too!
  • #45,427
  • Nov 14, 2008 7:11am Nov 14, 2008 7:11am
Quoting andys0506
Is my understanding right that if the price has spiked down it has taken out lots of stops from current long trades. Once these trades have been stopped out it would then look to continue up without these people being on board?
this is what they do yesterday..before EJ went up 600 pips ..it went down a near 100 pips....retest the low...

It was fast n quik..that means 3 (15M) red bars and surge all the way....

Sonic
  • #45,428
  • Nov 14, 2008 7:12am Nov 14, 2008 7:12am
bbc.co.uk website (news)

The eurozone has officially slipped into recession after EU figures showed that the economy shrank by 0.2% in the third quarter.

I know we all knew this already.......

I like the comment made on the news by the trader from Barclays saying this is just the start.... they expect a further 1% European GDP reduction in 2009.

It is almost worth opening a 0.01 lot and shorting it for 6 months.

Much of the optimism has evaporated as Germany (the money mangers in the EU) is dependant on auto sales and they aren't selling.

In the UK about 60% of our production is to European export and that is falling as well.Still least my mortgage is now under £300.00, now if only my credit card bill would start to fall as well.........
  • #45,429
  • Nov 14, 2008 7:18am Nov 14, 2008 7:18am
Quoting andys0506
Is my understanding right that if the price has spiked down it has taken out lots of stops from current long trades. Once these trades have been stopped out it would then look to continue up without these people being on board?
Which spike... did I miss it?

Tapping alone that pivot line..... if it gets through it may collapse.
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  • #45,430
  • Edited 8:12am Nov 14, 2008 7:19am | Edited 8:12am
Quoting piptechnician
I am spending my morning before the US Stock Market Open working on stock indices and applying the standard lines we all use to those charts. When equations are being rebalanced I want to understand for myself with my own conclusions how best the small trader can benefit.
cool, hope you share some sort of thoughts tho, if not here, than say where. I'd be interested in your musings.

I said last nite in mid asia tho, that i'm not going to believe anything that happens in the next 2 sessions, until the close today and end of NY on Monday at the soonest.

The only thing I'm really watching today is if 139 retest on GY happens (and the GU level as well), and if so, does it hold? the next step is a good ways down there...
FUBAR...
  • #45,431
  • Nov 14, 2008 7:22am Nov 14, 2008 7:22am
I thought to share what happen to me, I'm very Depress
Was expecting drop i take short gbp/usd and gbp/jpy IN same mint hit my SL no more one pip the drop down more than 100 pip
lost 8% of my account, many requotes more than 20 time today, slow execution
  • #45,432
  • Nov 14, 2008 7:28am Nov 14, 2008 7:28am
Quoting egkid
I thought to share what happen to me, I'm very Depress
Was expecting drop i take short gbp/usd and gbp/jpy IN same mint hit my SL no more one pip the drop down more than 100 pip
lost 8% of my account, many requotes more than 20 time today, slow execution
I don't want to lecture you, but it sounds like you had too high of a percentage of your account at risk at one time. Yes?
  • #45,433
  • Nov 14, 2008 7:30am Nov 14, 2008 7:30am
area 2630-2620 may be hard to break
The best thing that can happen to you is to find out where you're wrong.
  • #45,434
  • Nov 14, 2008 7:35am Nov 14, 2008 7:35am
Quoting TradeWell
I don't want to lecture you, but it sounds like you had too high of a percentage of your account at risk at one time. Yes?
I was open many trades with 5 pairs and they all goes as i expecting after hit my SL no more one pip exactly SL ,That make me
Maybe greed or bad luck or i'm bad trader
  • #45,435
  • Nov 14, 2008 7:38am Nov 14, 2008 7:38am
cleared up last open GU trade for 112 pips.

after yesterday... paybacks are a you know what!!
FUBAR...
  • #45,436
  • Nov 14, 2008 7:40am Nov 14, 2008 7:40am
Quoting egkid
I was open many trades with 5 pairs and they all goes as i expecting after hit my SL no more one pip exactly SL ,That make me
Maybe greed or bad luck or i'm bad trader

I am no professional, but I have seen the phrase 'stop-loss' hunting many times on this board.


I dont even know that it means, but maybe it happened to you.


Can someone explain the term to me?
  • #45,437
  • Nov 14, 2008 7:41am Nov 14, 2008 7:41am
Quoting Driver55
area 2630-2620 may be hard to break
Why do you say so?
Can you please give some explanation.

Cheers
Brijesh
  • #45,438
  • Nov 14, 2008 7:41am Nov 14, 2008 7:41am
Quoting egkid
hit my SL no more one pip exactly SL ,That make me
Maybe greed or bad luck or i'm bad trader
might want to check your signature there mate, it's just numbers... right?
FUBAR...
  • #45,439
  • Nov 14, 2008 7:44am Nov 14, 2008 7:44am
Cobra and other Ichimoku/THV users, and anyone else that's into S&R (watch yourself!),

I'm not sure what all you have in your THV template, but I have added the Support and Resistance indicator to my set-up. It was just good for 50+ PIPs on the down move thru 2666 support. I did not get all of those because I had TSL set at 15. When it whipsawed up, I got caught for only 10, but nevertheless an effective strategy. Since I entered 4 PIPs south of support, I only used 15 Stop Loss also.

Support and Resistance trading can be just as effective as Fibs.
Up or down, gimme a ticket
  • #45,440
  • Nov 14, 2008 7:45am Nov 14, 2008 7:45am
Quoting egkid
I was open many trades with 5 pairs and they all goes as i expecting after hit my SL no more one pip exactly SL ,That make me
Maybe greed or bad luck or i'm bad trader
Everybody has some bad luck and gets greedy from time to time. But if you practice good money management (2-5% maximum risked at one time) you can recover more easily. Sorry if I'm telling you something you already know.
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