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  • #74,201
  • Mar 11, 2009 4:23pm Mar 11, 2009 4:23pm
Good morning,

Fell sick yesterday afternoon and couldn't trade. The W from my last post got finalised which is great. As whats going to happen is hard to say, as I am still not 100% I am not going to trigger any trades in such a state ( one of my trading rules "only trade when in good health!").
To all of you good trading and lots of pips, will be back when recovered.
Trade on your own risk Plan your trade&trade your plan dont be a
  • #74,202
  • Mar 11, 2009 4:25pm Mar 11, 2009 4:25pm
Quoting NuckingFuts
It does, you just have to know how to read it.

Here's a great quote. Source unknown. I have emphasised the most important section.

Multiple Time Frame Analysis
In my years as a trading educator I have found that most losing traders have a critical glaring weakness in their approach to analyzing a market. The majority of their focus is placed on mathematical technical analysis tools such as moving average convergence divergence (MACD), the relative strength index (RSI) and/or stochastic studies (among many others). All of these types of...
"It does, you just have to know how to read it." -

And then that is followed by justification, but totally lacking in edification. Now, if this is true, then I'd like the edification.....you know, the "how" part. Thanks in advance if you decide to take the time to edify.
  • #74,203
  • Mar 11, 2009 4:30pm Mar 11, 2009 4:30pm
Quoting dallavise
I agree with you, and there is a lot of reasons to have a stop loss, and to be honest, one of the lesser ones is if your computer crashes, at least for me. I like to actually get off of the computer once in a while, which is a bit more important.
To combat technical issues I have two separate internet feeds with my desktop hooked up to one and my laptop the other. Both have my trading app open and running to ensure I can get out of a trade asap if something bad were to happen (particularly when scalping).
  • #74,204
  • Mar 11, 2009 4:36pm Mar 11, 2009 4:36pm
Quoting Bluemeanie
To combat technical issues I have two separate internet feeds with my desktop hooked up to one and my laptop the other. Both have my trading app open and running to ensure I can get out of a trade asap if something bad were to happen (particularly when scalping).
Understand the scalping part. I have a 20 pip stoploss for scalping, so if that's the worst that can happen, I'm not worried at at all. Also, I have a blackberry with mobile trading at my desk, and a mobile broadband card. We all have different ways of doing the same thing.
  • #74,205
  • Mar 11, 2009 4:38pm Mar 11, 2009 4:38pm
Looks like there might be a bullish divergence on the 15 min atm....not good for those of us with shorts.
Going to make it big by age 21.
  • #74,206
  • Mar 11, 2009 4:39pm Mar 11, 2009 4:39pm
Bearish patterns at this time
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: daveM -snag - 216.png Size: 23 KB
  • #74,207
  • Mar 11, 2009 4:40pm Mar 11, 2009 4:40pm
really wish I could place a position and let it ride for massive gains, but these days trading short term seems much more lucrative. Looking for pullback overnight and perhaps an opportunity to get long for next leg up on US equities.
  • #74,208
  • Mar 11, 2009 4:41pm Mar 11, 2009 4:41pm
Quoting dstryr
Looks like there might be a bullish divergence on the 15 min atm....not good for those of us with shorts.
You got some serious balls shorting this daily chart, might be one more dip before the breakout. edit: one thing that keeps me tenative on EURO is the reports of Eastern Europe exposer of Euro banks, but iahve to wonder who is insuring the bonds the Euro banks issued. I have to wonder is it AIG???
  • #74,209
  • Mar 11, 2009 4:42pm Mar 11, 2009 4:42pm
Im only looking to get back to 2750 or so so I can break even on my earlier shorts. Not looking to hit a home run.
Going to make it big by age 21.
  • #74,210
  • Mar 11, 2009 4:46pm Mar 11, 2009 4:46pm
Quoting dstryr
Im only looking to get back to 2750 or so so I can break even on my earlier shorts. Not looking to hit a home run.
You and me both, although if we get to 2750, I'll be up a good bit. 2800 is my goal. Looks like a bunch of us bears got bullied.
  • #74,211
  • Mar 11, 2009 4:48pm Mar 11, 2009 4:48pm
Quoting dallavise
You and me both, although if we get to 2750, I'll be up a good bit. 2800 is my goal. Looks like a bunch of us bears got bullied.
Yup...Was given false hope by the stop at 2820 and the pull back..... ended up falling asleep but my stop loss was missed.
Going to make it big by age 21.
  • #74,212
  • Mar 11, 2009 4:48pm Mar 11, 2009 4:48pm
Quoting dstryr
Im only looking to get back to 2750 or so so I can break even on my earlier shorts. Not looking to hit a home run.
there is no volume at this minute, give it a while, those two patterns are very reliable patterns
  • #74,213
  • Mar 11, 2009 4:55pm Mar 11, 2009 4:55pm
Quoting ak4x
Off on errands before my wife gets home, or missing this move will not be my biggest worry.
C.D.E. is, hopefully, a temporary position. Toughest of All classes to pass though.
Once you Pass it;
The Real Exam begins. You can Tell Us what you want but Try to dress it up for her.
& you thought you were your biggest critic.
Shame on you.
You picked her because you thought you were a natural Pair.
Answer to Her/Him; Not Us.

Go Gettem Tiger.

Oh, btw C.D.E. represents...
Compliant. Domestic. Engineer.

Deal with that one as it comes along. This road is not smooth.
  • #74,214
  • Mar 11, 2009 4:57pm Mar 11, 2009 4:57pm
Quoting KillerWhale
Asia session might save you, I'm in the same position. My b/e point is 1.2810
Building more short positions, s/l 1.2875
New voice message: Why are you calling me? If I need you, I'll call you!
  • #74,215
  • Mar 11, 2009 5:02pm Mar 11, 2009 5:02pm
Yikes!! That's a Range...

EU pivots for today from 5pm

H = 2862
L = 2616
C = 2835

Mind them QP's tonite, and the SP's and your P's and Q's while you're at it.

Not to mention your knickers. I know Bemac is looking to make gas money for his First Fishing Trip this spring... all expenses to be paid by one of us...

((I'm thinking we may need an R4 b4 the weak is over... DOBLECE.....!! ((I really suck at math))
Attached Image
FUBAR...
  • #74,216
  • Mar 11, 2009 5:04pm Mar 11, 2009 5:04pm
I think now would be a good time to shed my Shorts.

Not sure, but I don't want to get caught with them Down.

HEY: Video Games & UEFA Championship! That could keep me busy.

btw.
Man Utd. still on track for 5.
As they say in the Movies...
"No Way Jose."
Boy's gate compared to "The Knight" Sir Alex.

OH... & btw. Psi.

That's a Bull Flag on the 15.
  • #74,217
  • Mar 11, 2009 5:09pm Mar 11, 2009 5:09pm
is it possible that it will go down beyon 1.27..
  • #74,218
  • Mar 11, 2009 5:09pm Mar 11, 2009 5:09pm
"If you have even the slightest fear or doubt when you engage in a trade, then it is obvious that you need more knowledge.

Fear and Doubt come from a lack of faith in your abilities based on the absence of sufficient education, knowledge, strategy, and solid trading plan." Stephen Story
Collecting pips
  • #74,219
  • Mar 11, 2009 5:13pm Mar 11, 2009 5:13pm
i personally think its going to go up but thats just my opinion i could be wrong
  • #74,220
  • Mar 11, 2009 5:14pm Mar 11, 2009 5:14pm
Quoting Suj_cess
"If you have even the slightest fear or doubt when you engage in a trade, then it is obvious that you need more knowledge.

Fear and Doubt come from a lack of faith in your abilities based on the absence of sufficient education, knowledge, strategy, and solid trading plan." Stephen Story
Impressive: How would You express it?
Please don't quote him...
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