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  • #78,161
  • Mar 20, 2009 2:17am Mar 20, 2009 2:17am
Quoting KillerWhale
Thank God for s/l's
Quit playing w/ me
  • #78,162
  • Mar 20, 2009 2:19am Mar 20, 2009 2:19am
Think I stay with longs, this crep is not where below 3600. the entire Asian Session yet.
  • #78,163
  • Mar 20, 2009 2:22am Mar 20, 2009 2:22am
Quoting gatorinla
ever trade dollar index?
Yes I do. I am currently short from 89.00
  • #78,164
  • Mar 20, 2009 2:25am Mar 20, 2009 2:25am
Quoting billymoney
Think I stay with longs, this crep is not where below 3600. the entire Asian Session yet.

I just went long too:
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  • #78,165
  • Mar 20, 2009 2:27am Mar 20, 2009 2:27am
there is one issue that has been making me wonder all day. i never paid attention in the past as to how it plays out relative to eur/usd.

triple witching day...as mentioned by ak4x earlier.


now we have had a strong bull rally for 2 weeks now...the question relates to the mentality of the investor. tomorrow alot of options will expire as investopedia.com says. now what does this exactly mean? does it mean many longs will be closed?...because if it is so...that act alone should drive equities lower...i think. opinions?

as to the relation to eur/usd...well usually equities going down means dollar strength (that was not the case yesterday though)
Different opinions highly valued, ignorant to slander.
  • #78,166
  • Mar 20, 2009 2:28am Mar 20, 2009 2:28am
That push up was just enough to catch my long entry. I'm long too at this point.
  • #78,167
  • Mar 20, 2009 2:30am Mar 20, 2009 2:30am
Hey, I learned scalping today.

For last several hours, closing half position, then re-opening, then closing half, then re-opening, ...........

I don't mind if it forever goes like this.
The Thief of Wall Street
  • #78,168
  • Mar 20, 2009 2:31am Mar 20, 2009 2:31am
Quoting psiholog
there is one issue that has been making me wonder all day. i never paid attention in the past as to how it plays out relative to eur/usd.

triple witching day...as mentioned by ak4x earlier.


now we have had a strong bull rally for 2 weeks now...the question relates to the mentality of the investor. tommorow alot of options will expire as investopedia.com says. now what does this exactly mean? does it mean many longs will be closed?...because if it is so...that act alone should drive equities lower...i think. opinions?
Profit taking will drive stocks down which usually means that money will be put into USD driving the E/U pair down.

However, since the dollar in itself is becoming complete crap, there's not much reason to put your money into it, so that kind of screws up the whole logical process as dictated above...

Regardless, I think we will see a dip at some point today. But as you can see I just opened long which means I think we'll move up a bit before the dip would occur (it would occur in NY session if at all.)
  • #78,169
  • Mar 20, 2009 2:32am Mar 20, 2009 2:32am
Quoting Chicky
Hey, I learned scalping today.

For last several hours, closing half position, then re-opening, then closing half, then re-opening, ...........

I don't mind if it forever goes like this.

I've had days where I made a killing just scalping a range like this. Just be sure to quit before we bounce out and you're stuck w/ a huge order that wipes out the day's work.
  • #78,170
  • Mar 20, 2009 2:37am Mar 20, 2009 2:37am
Quoting F.x.
I've had days where I made a killing just scalping a range like this. Just be sure to quit before we bounce out and you're stuck w/ a huge order that wipes out the day's work.
ah but chicky is doing it the brilliant way..same way i do it. he has a bias. his bias is short. therefore any retreat to higher levels he sells. he never buys. just sell. the beauty of this is he wants to average out sell positions at a higher value anyways. its a win win situation with no room for loss. i usually do this quite successfully..except the average down part...(not enough equity for that)...weeks like this week though..my main indicator "bias"...was completely wrong. hmm...another lesson for the future...when bias messed up...dont trade
Different opinions highly valued, ignorant to slander.
  • #78,171
  • Mar 20, 2009 2:37am Mar 20, 2009 2:37am
And I'm out... nice... a few more of those and I'll make up for what I lost wednesday.
  • #78,172
  • Mar 20, 2009 2:40am Mar 20, 2009 2:40am
Quoting Chicky
Hey, I learned scalping today.

For last several hours, closing half position, then re-opening, then closing half, then re-opening, ...........

I don't mind if it forever goes like this.
Lol, don't think you can learn scalping in just one day.

Its an art in itself and you will soon find out.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #78,173
  • Mar 20, 2009 2:40am Mar 20, 2009 2:40am
Quoting djambazov84
its frankfurt london is next hour
thought london opens 3am EST. have they not adjusted for DST yet?

Then my favorite forex clock is wrong.
http://www.forexsignallive.com/market_times.html
  • #78,174
  • Mar 20, 2009 2:42am Mar 20, 2009 2:42am
Quoting psiholog
ah but chicky is doing it the brilliant way..same way i do it. he has a bias. his bias is short. therefore any retreat to higher levels he sells. he never buys. just sell. the beauty of this is he wants to average out sell positions at a higher value anyways. its a win win situation with no room for loss.
LOL

Till you get caught all-in on the wrong side and price continues to move against you.
  • #78,175
  • Mar 20, 2009 2:44am Mar 20, 2009 2:44am
Quoting akirax
bought at London open, 1st target 3730, 2nd target 3860.
SL 3630.
adding 3rd target of 1.40.
  • #78,176
  • Mar 20, 2009 2:45am Mar 20, 2009 2:45am
Quoting psiholog
ah but chicky is doing it the brilliant way..same way i do it. he has a bias. his bias is short. therefore any retreat to higher levels he sells. he never buys. just sell. the beauty of this is he wants to average out sell positions at a higher value anyways. its a win win situation with no room for loss. i usually do this quite successfully..except the average down part...(not enough equity for that)...weeks like this week though..my main indicator "bias"...was completely wrong. hmm...another lesson for the future...when bias messed up...dont...
Correct. That is why I enter gradually, bit by bit build position.

There is another way. If I see a very good r/r i.e 5 or more, I open a position in the opposite direction. If it goes my way, I lose 1 out of my 5, but if goes opposite i gain 1+6. But it happend only once.
The Thief of Wall Street
  • #78,177
  • Mar 20, 2009 2:45am Mar 20, 2009 2:45am
short order at 1.37 activated
sell orders also pending at 1.3750 and 1.3800
hoping rallies in london session will bring in some pips midway into the NY session
Some drink at the fountain of knowledge. Others just gargle !
  • #78,178
  • Mar 20, 2009 2:45am Mar 20, 2009 2:45am
ohh..another rally?
  • #78,179
  • Mar 20, 2009 2:50am Mar 20, 2009 2:50am
Quoting F.x.
LOL

Till you get caught all-in on the wrong side and price continues to move against you.
let it get to the point where we want it to go. It will hit the ground harder.
The Thief of Wall Street
  • #78,180
  • Mar 20, 2009 2:51am Mar 20, 2009 2:51am
Quoting F.x.
LOL

Till you get caught all-in on the wrong side and price continues to move against you.
i have wiped out like this in the past. why?...no stop loss. use stop loss and its fool proof as this method has high winning percentage.
Different opinions highly valued, ignorant to slander.
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