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Trade what you see NOT what you expect

  • #13,661
  • May 29, 2009 9:59am May 29, 2009 9:59am
Quoting Infinity
Who likes this pa....?....that is the quickest 40 pips I made this week...
Anybody else bought near 6050...?
Twins, that's all I've gotta say!

Good job bro! Let's make more than 40 though, I'm eying 6170 now for my next TP.
Just digging in the trenches like everyone else!
  • #13,662
  • May 29, 2009 9:59am May 29, 2009 9:59am
Quoting eohater
It's possibly though. But here's one item everyone needs to research and understand. Recessions that are spurred by a financial demise are long and harder to come out of than any other type of recession. They can sometimes lead from one recession into another. Look at the early 80's, we had two back to back financial recessions, then Reganomics came along to spurr us out of it. I truely do not believe the world is coming out of this, I think we will see 6700 on the DOW again, I think dollar strength or risk aversion will come alive again in the...
good stuff bro, we have had a rally in risk thats all - no big fundamental shift as u rightly point out

new lows in stocks could well happen, will be interesting to see what happens later on in the year, October always bad for stocks,

"Dow peaked in 1929 and it was 25 years before we saw a new high emerge. It peaked again in 1966, and it was 16 years before a nominal price high. But remember, we had inflation in the 70s and if you account for that, it was 25 years before we saw a new, real price high. The Japanese stock market peaked famously at the end of 1989 at 40k. 18 years later its at 8000. Its got another 7 years to get back to its high. Dow peaked 10 years ago it shall be until 2025 before we see an emergence of new price highs." - quote from interview with Hugh Hendry
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Trading is 80% Emotional, 20% Technical
  • #13,663
  • May 29, 2009 10:00am May 29, 2009 10:00am
Quoting Turtle
No problem with the rant bro.....

It's all about the media, hyping every little thing up.

Like I saud before until unemployment goes down and the housing market turns around, it's all just hype from CNBC.

HOLLA
Exactly bro!
Just digging in the trenches like everyone else!
  • #13,664
  • May 29, 2009 10:01am May 29, 2009 10:01am
Quoting Infinity
Who likes this pa....?....that is the quickest 40 pips I made this week...
Anybody else bought near 6050...?
Yup, love it!!

6050 was 50% of days range got in at 60s though, slow again!!

love the instant grafitication trades!!
Trading is 80% Emotional, 20% Technical
  • #13,665
  • May 29, 2009 10:02am May 29, 2009 10:02am
Quoting eohater
Turtle, you should know this trade setup! We've talked about it with the cross of the 35/50 and the 35 pip rule.
Oh, I know the setup, my problem is that I'm waiting for the close of the candle to confirm and twice, by the time she closed we are 40+ pips on the run.

Is it better to get in when price drops to that area????

This is something I see you and Infinity do well and I'm still learning when/how to get in before the candle closes. :nerd:

HOLLA
  • #13,666
  • May 29, 2009 10:02am May 29, 2009 10:02am
Quoting Infinity
Who likes this pa....?....that is the quickest 40 pips I made this week...
Anybody else bought near 6050...?
Happy trades to everybody

I bought by the rule 35/50 cross/reverse, at 6075. It almost hit SL, but then went up. Closed +22.

For 6050 - you, guys, have some nerves to wait for it!
  • #13,667
  • May 29, 2009 10:03am May 29, 2009 10:03am
Quoting Infinity
I do like how the h1 closed out bro! But I'm not greedy, so I've taken more off at 6125. Covered at +15 now on the rest to run.
Just digging in the trenches like everyone else!
  • #13,668
  • May 29, 2009 10:04am May 29, 2009 10:04am
Now waitting for a entry off a retest. off the ma's or 00 ..
Good Trading To All ; Ken Lee
  • #13,669
  • May 29, 2009 10:04am May 29, 2009 10:04am
Quoting eohater
Twins, that's all I've gotta say!

Good job bro! Let's make more than 40 though, I'm eying 6170 now for my next TP.
Thats the area I am looking at....a little lower though... most of my position was closed as it was pretty heavy and I even took some more at 6130.. Very small portion left with this line in mind...
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Patience + Discipline - Greed = Success
  • #13,670
  • May 29, 2009 10:04am May 29, 2009 10:04am
Quoting Komissar
Happy trades to everybody

I bought by the rule 35/50 cross/reverse, at 6075. It almost hit SL, but then went up. Closed +22.

For 6050 - you, guys, have some nerves to wait for it!
It's the same rule bro on the 35 pips. Just set the PO 20 pips lower than the closed price and then your SL is only 15 pips. Let the market pull you into the trade. Good job on the +22!
Just digging in the trenches like everyone else!
  • #13,671
  • May 29, 2009 10:05am May 29, 2009 10:05am
Quoting Infinity
Thats the area I am looking at....a little lower though... most of my position was closed as it was pretty heavy and I even took some more at 6130.. Very small portion left with this line in mind...
Ahh, good eye bro! I'm adding the trendline on my charts now and will adjust my TP accordingly as well.
Just digging in the trenches like everyone else!
  • #13,672
  • May 29, 2009 10:06am May 29, 2009 10:06am
Quoting Infinity
Who likes this pa....?
Hell yeah...been riding this bitch up and down like a $2.00 whore. I'm gonna hate to see London close.
Hi, my name is Barry and you can keep your doctor...
  • #13,673
  • May 29, 2009 10:06am May 29, 2009 10:06am
Quoting fx local
good stuff bro, we have had a rally in risk thats all - no big fundamental shift as u rightly point out

new lows in stocks could well happen, will be interesting to see what happens later on in the year, October always bad for stocks,

"Dow peaked in 1929 and it was 25 years before we saw a new high emerge. It peaked again in 1966, and it was 16 years before a nominal price high. But remember, we had inflation in the 70s and if you account for that, it was 25 years before we saw a new, real price high. The Japanese stock market peaked famously...
Nice post bro! Where did you get the quote from if you don't mind sharing?
Just digging in the trenches like everyone else!
  • #13,674
  • May 29, 2009 10:07am May 29, 2009 10:07am
Quoting eohater
It's the same rule bro on the 35 pips. Just set the PO 20 pips lower than the closed price and then your SL is only 15 pips. Let the market pull you into the trade. Good job on the +22!
OK, thanks.
Another question, do you enter for such trades manualy at all, or your decision - manualy/PO - based on other criterias?
  • #13,675
  • May 29, 2009 10:07am May 29, 2009 10:07am
Quoting eohater
It's the same rule bro on the 35 pips. Just set the PO 20 pips lower than the closed price and then your SL is only 15 pips. Let the market pull you into the trade. Good job on the +22!

Ok....the bell went off again.

I'm on it.....:nerd:

HOLLA
  • #13,676
  • May 29, 2009 10:08am May 29, 2009 10:08am
Quoting eohater
I do like how the h1 closed out bro! But I'm not greedy, so I've taken more off at 6125. Covered at +15 now on the rest to run.
I took some more myself bro! I'll probably be closing out one way or another within the hour... will see how it goes..
Patience + Discipline - Greed = Success
  • #13,677
  • May 29, 2009 10:09am May 29, 2009 10:09am
Quoting eohater
Nice post bro! Where did you get the quote from if you don't mind sharing?

no worries bro

only fund manager in the world that talks sense!!
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Trading is 80% Emotional, 20% Technical
  • #13,678
  • May 29, 2009 10:10am May 29, 2009 10:10am
Quoting Infinity
I took some more myself bro! I'll probably be closing out one way or another within the hour... will see how it goes..

good stuff bro, i closed at 30s, for 70 pips, will be bit more conservative now given its friday and end of month.....
Trading is 80% Emotional, 20% Technical
  • #13,679
  • May 29, 2009 10:12am May 29, 2009 10:12am
Quoting KENNETH lEE
Now waitting for a entry off a retest. off the ma's or 00 ..

went long off the retest of the 5,10,21 ma's they are all bunched together, closed with 14 pips. Now see if if I can do it again. Looking for a deeper retrace now since it failed to continue up. Maybe the 00
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Good Trading To All ; Ken Lee
  • #13,680
  • May 29, 2009 10:12am May 29, 2009 10:12am
Quoting eohater
Ahh, good eye bro! I'm adding the trendline on my charts now and will adjust my TP accordingly as well.
I tell you what bro! I just closed out fully at 35.. I have to go on the road now and the dow is looking weaker... It may go up but I will just take the money and run!
Patience + Discipline - Greed = Success
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