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Trade what you see NOT what you expect

  • #11,081
  • May 5, 2009 3:58am May 5, 2009 3:58am
damnit i go away for 20 minutes and it shoot straight to my mini target.....oh well better than a loss..

hope u guys where on the same train ...EO u still in bro?
  • #11,082
  • May 5, 2009 4:09am May 5, 2009 4:09am
Laughter the best medicine.....Infinity might love the music...

http://www.thelaughtermovie.com/

baz
  • #11,083
  • May 5, 2009 4:17am May 5, 2009 4:17am
Quoting baz
Laughter the best medicine.....Infinity might love the music...

http://www.thelaughtermovie.com/

baz
thats great bro ..certainly cheered me up!
  • #11,084
  • May 5, 2009 4:20am May 5, 2009 4:20am
Quoting baz
Laughter the best medicine.....Infinity might love the music...

http://www.thelaughtermovie.com/

baz
nice one baz
  • #11,085
  • May 5, 2009 6:45am May 5, 2009 6:45am
Hi guys I am shorting from 1.5120 area will you agree with the chart?
Attached Image (click to enlarge)
Click to Enlarge Name: stop hunter.JPG Size: 99 KB
BANDA333
  • #11,086
  • May 5, 2009 6:49am May 5, 2009 6:49am
I've taken a short position at 5117, SL at 5155.
Just digging in the trenches like everyone else!
  • #11,087
  • May 5, 2009 6:51am May 5, 2009 6:51am
Quoting nAVIN2007
thanks man!

that support level that i have (post previous) if that break..im out of this long..anything can happen but i still favor long.....dailly is bullish, weekly as well.....and its a bout time a descent retrace on monthly occurr...but anything can and will happen its all speculation bro

sorry i didnt really answer yur question......u have to take into account larger time frames but on dailly the right shoulder is larger than the left...it should be less, that would confirm that the trend is weakening....hope that makes sense
Thanks, great explanation.
  • #11,088
  • May 5, 2009 6:53am May 5, 2009 6:53am
Today is going to be another busy day at the office for me. I'm not sure how much I'll be able to contribute today, but I hope everyone makes green pips.

Trade well!
EO
Just digging in the trenches like everyone else!
  • #11,089
  • May 5, 2009 6:59am May 5, 2009 6:59am
Quoting eohater
I've taken a short position at 5117, SL at 5155.
Could you explain a little bit of why you took this trade EO with such a bullish 4H candle (on my platform anyway) if you have any free time.

Im a little

Thanks,
Damo
  • #11,090
  • May 5, 2009 6:59am May 5, 2009 6:59am
I've taken a short position on EU at 3402 and SL at 3455. Now, I'm outta here.

Check in when I can today.

Trade well guys!
EO
Just digging in the trenches like everyone else!
  • #11,091
  • May 5, 2009 7:00am May 5, 2009 7:00am
I am happy to have joined you on the south bound shin kan zen train....... I can't fathom how people go long on equities and GBP when
1) H1N1 will have higher than expected economic implications
2) Chrysler chapter 11 with around 10,000 jobs lost at least for 2-3 months with loss of productivity
3) Stress test findings at least 10 major banks needing more Capital to function
5) U.K had couple of good numbers but still can't raise money to pay stimulus bill

6) Expected horrible NFP
7) Somali pirates acting out
these are my imbecile rationalization of current economic situation...........


Quoting eohater
Today is going to be another busy day at the office for me. I'm not sure how much I'll be able to contribute today, but I hope everyone makes green pips.

Trade well!
EO
BANDA333
  • #11,092
  • May 5, 2009 7:15am May 5, 2009 7:15am
Quoting eohater
I've taken a short position on EU at 3402 and SL at 3455.
EO
I think I can see why you took that -- because the 15m candle closed full and underneath the wick of the one a few to the left? Perhaps the way the 1h closed too? I was long at 3379 and closed at 3402 funnily enough!
  • #11,093
  • May 5, 2009 8:17am May 5, 2009 8:17am
Just got to the office. My GU position has been closed for a loss and my EU position is underwater. Shit happens! Next setup I will await.
Just digging in the trenches like everyone else!
  • #11,094
  • Edited 8:34am May 5, 2009 8:23am | Edited 8:34am
Quoting eohater
Just got to the office. My GU position has been closed for a loss and my EU position is underwater. Shit happens! Next setup I will await.
Morning, EO

I saw your post about EU trade.

For my own education, let me assume that you took that trade because you were expecting tweezers on 15M.
And SL= 3455 was set 25 pips above previous high 3439, right?
Thanks

I wish I pay attention to EU couple hours ago.

According Fibs, it would be a good long from 3385 - 50% retracement is over, bounce off 23.6% + tweezers setup.
Attached Image (click to enlarge)
Click to Enlarge Name: 15min.jpg Size: 79 KB
  • #11,095
  • May 5, 2009 8:42am May 5, 2009 8:42am
Quoting eohater
Just got to the office. My GU position has been closed for a loss and my EU position is underwater. Shit happens! Next setup I will await.
Sorry to hear that bro... as you said, a next setup is around the corner... I am not in a trade right now as my old long was stopped out for +140 before this last climb... I am looking for a new seat to long to at least 5350 based on the monthly... maybe in that 5050-70 area..
Patience + Discipline - Greed = Success
  • #11,096
  • May 5, 2009 8:51am May 5, 2009 8:51am
Quoting baz
Laughter the best medicine.....Infinity might love the music...

http://www.thelaughtermovie.com/

baz
Good one Baz!
Patience + Discipline - Greed = Success
  • #11,097
  • May 5, 2009 8:53am May 5, 2009 8:53am
EO sorry to hear that I didn't have stop loss for my shorts as thought this was a stop hunting move.........big guys sell in to strength .........buy in to very weakness to eat the small fish............thats how they f....ck us .........I think GBP/$ will go to 149.80 area or lower if you look at GBP other crosses GBP/JPY bearish GBP/CHF bearish.........matter of time when EU/GBP mount a big north move this bi..h will be cooked ............hope I will have luck ...........sad to loose money always.........

Quoting eohater
Just got to the office. My GU position has been closed for a loss and my EU position is underwater. Shit happens! Next setup I will await.
BANDA333
  • #11,098
  • May 5, 2009 9:06am May 5, 2009 9:06am
Quoting Infinity
... I am looking for a new seat to long to at least 5350 based on the monthly... maybe in that 5050-70 area..
My price is 5077
Patience + Discipline - Greed = Success
  • #11,099
  • May 5, 2009 9:06am May 5, 2009 9:06am
Quoting Infinity
My price is 5077
Watching the 5/10 on m15....
Patience + Discipline - Greed = Success
  • #11,100
  • May 5, 2009 9:14am May 5, 2009 9:14am
Quoting Infinity
Watching the 5/10 on m15....
Should we watch 35/50 and execute cross/reverse if it comes up?
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