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  • #99,561
  • May 22, 2009 12:02pm May 22, 2009 12:02pm


Will it ever retrace to allow me close my shorts and go long? Just moved my sls to above 1.4300 and added another short.
The Thief of Wall Street
  • #99,562
  • May 22, 2009 12:03pm May 22, 2009 12:03pm
Quoting FXexpress
I am outof here before I do something stupid.
wisest post I've read all morning!
Pip what you see; See what you pip!
  • #99,563
  • May 22, 2009 12:07pm May 22, 2009 12:07pm
Quoting Chicky


Will it ever retrace to allow me close my shorts and go long? Just moved my sls to above 1.4300 and added another short.
Your s/l should be safe if you move it to 1.6050.
In the meantime, why don't you hedge a little bit?
New voice message: Why are you calling me? If I need you, I'll call you!
  • #99,564
  • May 22, 2009 12:08pm May 22, 2009 12:08pm
May 18 2009 - bottom level 1.3420 reached. From this point on, a new bullish trend borned which continues at the moment.

Is there someone to explain what moved that trend in a way we see it now - it has no corrections on H4 and is almost perfect 45 degrees.

I would appreciate if someone can give a decent explanation on that move.
If your coffee smiles at you - smile it back
  • #99,565
  • May 22, 2009 12:10pm May 22, 2009 12:10pm
Quoting Bling
Bad enough to where about half what i made in the last 2 weeks is gone
Yah... I had another string of bad decisions... more like a rope actually... in a week took out 1/3rd of the account... And that was with never risking more then 5% on a trade.... haha... oh well got my climbing gear and working on getting out of the hole I dug.
Designer by day Trader by night.
  • #99,566
  • May 22, 2009 12:11pm May 22, 2009 12:11pm
Quoting Chicky


Will it ever retrace to allow me close my shorts and go long? Just moved my sls to above 1.4300 and added another short.
Yes Chicky it will retrace, but WTF why add more pain? If you want to go long on a retrace, then close your shorts and wait. BTW 1.43 is not safe.
Sorry Chicky; just my two cents

  • #99,567
  • May 22, 2009 12:14pm May 22, 2009 12:14pm
Quoting KillerWhale
Your s/l should be safe if you move it to 1.6050.
In the meantime, why don't you hedge a little bit?
No Shamu, I will receive a margin call on all my accounts (except my main one which has no trade open) at 1.5900.

I am already hedged with my money management. Total exposure is less than 6% with above 1.4300 sls. I am in for shorts only to set up my longer term trades.
The Thief of Wall Street
  • #99,568
  • May 22, 2009 12:16pm May 22, 2009 12:16pm
Still looking at 1.412-1.413 as the first possible place for a decent retrace.
  • #99,569
  • May 22, 2009 12:18pm May 22, 2009 12:18pm
As I am not seeing the charts most of the time nor trading actively & the bull continue to run without any retracement so I started building very small shorts without any long that need much care of. will continue till next US news after 42 minutes . and will close all position before the last minute .

trading so blindly though risky but price may not go as much as 1.4323 as expected high level for any big short.lets see if the news change or augment the movement .
very risky job.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #99,570
  • May 22, 2009 12:19pm May 22, 2009 12:19pm
Quoting Alg
Next 1.4037
You nailed. I watched your video and pretty impressive. Any new comments?
  • #99,571
  • May 22, 2009 12:19pm May 22, 2009 12:19pm
Oh, surprise, surprise, we moved higher. I have a final short for the session at 1.4047.
  • #99,572
  • May 22, 2009 12:20pm May 22, 2009 12:20pm
Quoting Atlast
Oh, surprise, surprise, we moved higher. I have a final short for the session at 1.4047.
whats your sl
  • #99,573
  • May 22, 2009 12:21pm May 22, 2009 12:21pm
Quoting Atlast
Oh, surprise, surprise, we moved higher. I have a final short for the session at 1.4047.
just curious.. wont it be risky so late into the session?
  • #99,574
  • May 22, 2009 12:21pm May 22, 2009 12:21pm
Quoting Atlast
Oh, surprise, surprise, we moved higher. I have a final short for the session at 1.4047.
shorted @ 4048 SL 20 pips
Never sell @ lower upward channel unless breacked and vise versa .
  • #99,575
  • May 22, 2009 12:23pm May 22, 2009 12:23pm
reminds me of the old E.F. Hutton commercial many years ago: "When E.F. Hutton Speaks; people listen." Replace that with the FED when they say: "sell dollars" well that's what people do -

Since 1.3550 [ on Tuesday], {looking at a 4 hour chart}; except for a period of consolidation; there really has been no retrace (of any significance) of this upmove and we may not until next week - so, guessing a top to short - unless it's to scalp a few here and there - is just gunna kill ya. It's like wrestling around in the mud with a pig.........
Pip what you see; See what you pip!
  • #99,576
  • Edited 12:26pm May 22, 2009 12:23pm | Edited 12:26pm
Quoting knuckledrag
Yes Chicky it will retrace, but WTF why add more pain? If you want to go long on a retrace, then close your shorts and wait. BTW 1.43 is not safe.
Sorry Chicky; just my two cents

Thanks Knuckledrag, I use a pain reliever, which is called Plan. My plan says keep on adding until a retrace. But with calculated risk. I will play long with house money or lose a portion of my own in a bid to collect from market for my bigger play. This one, to me, is not a very hard nut to crack. All I need is some patience and trust in my calculations. Let's see how it turns out. No risk, no game.
The Thief of Wall Street
  • #99,577
  • May 22, 2009 12:23pm May 22, 2009 12:23pm
Quoting Atlast
Am now short, can relax I think and take a break.
Again, if I had followed the cycle it would have given me a tonne of pips. From next week every other indicator is going to be ignored and I will use the cycle crosses as an entry signal. F#*k this sitting around all day looking at a large drawdown while watching my main tool perform like a dream.

I'm over-complicating it. I won't be pointing cycle alerts for the TF that I trade but will continue to post them for the hourly time-frame. This is probably better for most since it tends to signal the change in long-term direction.

Bloody Elliot Wave!
  • #99,578
  • May 22, 2009 12:23pm May 22, 2009 12:23pm
After all, someone has to drop the price so the bulls can keep loading up
Traders are smartasses
  • #99,579
  • May 22, 2009 12:23pm May 22, 2009 12:23pm
Quoting Chicky


Will it ever retrace to allow me close my shorts and go long? Just moved my sls to above 1.4300 and added another short.
wow whats your lot size and what are u down by now
  • #99,580
  • May 22, 2009 12:26pm May 22, 2009 12:26pm
Quoting SeerEye
It's like wrestling around in the mud with a pig..
LMAO!!! That is such a funny phrase!
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