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  • #104,741
  • Jun 2, 2009 3:15pm Jun 2, 2009 3:15pm
Hey you guys, I'm not that ridiculously stupid
Overall + $60 also from my earlier trade. not just the 2 position i mentioned.

anyway, just to let you know.
  • #104,742
  • Jun 2, 2009 3:17pm Jun 2, 2009 3:17pm
Hey buddy mind to share your system? Maybe it will help me to come out of loosing stretch........ if possible only
Thank you


Quoting Chicky
Gator, Yes I am definately playing a pull back, but according to what my method tells me to do. My mehtod doesn't mind giving first and last few pips to others, this is my insurance.
BANDA333
  • #104,743
  • Jun 2, 2009 3:19pm Jun 2, 2009 3:19pm
Quoting Ming
Hey you guys, I'm not that ridiculously stupid
Overall + $60 also from my earlier trade. not just the 2 position i mentioned.

anyway, just to let you know.
No u are just caught red handed
  • #104,744
  • Jun 2, 2009 3:21pm Jun 2, 2009 3:21pm
Quoting F.x.
Oh, if it breaks this resistance and it turns to support, then it will start building a case for us to go WAY above 1.60.

But let me add one more thing to that chart I just posted. A fib. From 1.60 to 1.23.

Now, despite what people will tell you, we still haven't "broken" the 50% fib in any convincing way. Still looks like 50% fib "fuzz" to me. So, until we break halfway between this fib and the next one up from here, I'm still expecting a bounce down from the 50% fib, and continuation of downtrend we see on the monthly. Combine that w/...
Thanks F.X. I am fully aware of the risk and I am taking less than 1% even if it goes to 1.2850. My this move is just a a critical test of my new method. I am definately playing a rejection and retrace but in my own way. This method worked in counter trend situations, I am now trying the same thing in the direction of the trend. If direction reverses, it should still work. Please do consider that this is a testing trade.
The Thief of Wall Street
  • #104,745
  • Jun 2, 2009 3:22pm Jun 2, 2009 3:22pm
please go down already!! just another trader pulling short and waiting.... FOR TOO DAMN LONG!!
"Do or do not... there is no try" Master Yoda
  • #104,746
  • Jun 2, 2009 3:24pm Jun 2, 2009 3:24pm
Quoting Chicky
Thanks F.X. I am fully aware of the risk and I am taking less than 1% even if it goes to 1.2850. My this move is just a a critical test of my new method. I am definately playing a rejection and retrace but in my own way. This method worked in counter trend situations, I am now trying the same thing in the direction of the trend. If direction reverses, it should still work. Please do consider that this is a testing trade.
demo account right? coz i cant belive some one will hold a long position at this price.we are going to witness a retracement soon.
  • #104,747
  • Jun 2, 2009 3:25pm Jun 2, 2009 3:25pm
common sense
  • #104,748
  • Edited 3:33pm Jun 2, 2009 3:30pm | Edited 3:33pm
Quoting BANDA
Hey buddy mind to share your system? Maybe it will help me to come out of loosing stretch........ if possible only
Thank you
In a previous post, I pasted links to features of my system. You may like to browse through that post. To summarize, my method is a kind of martingale, but I am now trying to minimize risk of a Monte Carlo system. The only thing I understand is to identify strong support and resistances, set aside max possible loss and plan trades on good r/r, entring and exiting in a complete range not just at a particular point. The new features are: never ever go against the trend unless it clearly reverses, limit your total risk exposure to 1-3% max max max max.

Ps. Banda, please don't follow me. A system only works if it goes with your mentality and everyone has a different way of thinking. Find something that goes with your mindset. I found it hard way.
The Thief of Wall Street
  • #104,749
  • Jun 2, 2009 3:31pm Jun 2, 2009 3:31pm
just a thought but dont think this top will hold forever.. but it is pretty..4369 area still should be ripe for a short.. at least in mfuo i think were top heavy.. should at the least get a bounce ..
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those who can, do. those who cant, talk about those who can
  • #104,750
  • Jun 2, 2009 3:34pm Jun 2, 2009 3:34pm
Quoting Chicky
Thanks F.X. I am fully aware of the risk and I am taking less than 1% even if it goes to 1.2850. My this move is just a a critical test of my new method. I am definately playing a rejection and retrace but in my own way. This method worked in counter trend situations, I am now trying the same thing in the direction of the trend. If direction reverses, it should still work. Please do consider that this is a testing trade.

Actually I'm not disagreeing w/ your game plan, or others that are ALREADY LONG. I know you already have longs in play and one look at the monthly you can easily make the case to hold them for at least another 200 pips (possibly even a LOT more if we go above that.) I'm speaking more to those w/ no open positions that are opening long here rather than short. Now THAT is crazy.
  • #104,751
  • Jun 2, 2009 3:34pm Jun 2, 2009 3:34pm
i add on more shorts...
  • #104,752
  • Jun 2, 2009 3:35pm Jun 2, 2009 3:35pm
Quoting Alihuzaifa
demo account right? coz i cant belive some one will hold a long position at this price.we are going to witness a retracement soon.

But the market is going UP, no doubt about that where you saying the same and holding Long all the way down last year ??

Think about it, if you jumped on a Long after every up move, during that sell off last September, how much money would you of lost.

Play the PA not the current price, it can go where ever it likes and most trades are playing the picking the top game for frequent losses.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #104,753
  • Jun 2, 2009 3:36pm Jun 2, 2009 3:36pm
will check graphs after 8 hours....good night all
  • #104,754
  • Jun 2, 2009 3:38pm Jun 2, 2009 3:38pm
Quoting gatorinla
just a thought but dont think this top will hold forever.. but it is pretty..4369 area still should be ripe for a short.. at least in mfuo i think were top heavy.. should at the least get a bounce ..

I like your blue line . Another great reason for a short here.
  • #104,755
  • Jun 2, 2009 3:39pm Jun 2, 2009 3:39pm
Quoting Alihuzaifa
will check graphs after 8 hours....good night all
Good play ,
I go short now ,100 pips down
"Buy on fear, sell on greed !!!
  • #104,756
  • Edited 3:39pm Jun 2, 2009 3:39pm | Edited 3:39pm
Quoting gatorinla
im pulling for u but dont tell chicky
Don't worry Gator. You may get a hint from my trading that I can't see anything unless it is in brail.
The Thief of Wall Street
  • #104,757
  • Jun 2, 2009 3:41pm Jun 2, 2009 3:41pm
Quoting F.x.
I like your blue line . Another great reason for a short here.
sl.. tp?
"Do or do not... there is no try" Master Yoda
  • #104,758
  • Jun 2, 2009 3:47pm Jun 2, 2009 3:47pm
Quoting F.x.
Actually I'm not disagreeing w/ your game plan, or others that are ALREADY LONG. I know you already have longs in play and one look at the monthly you can easily make the case to hold them for at least another 200 pips (possibly even a LOT more if we go above that.) I'm speaking more to those w/ no open positions that are opening long here rather than short. Now THAT is crazy.
Fx. I was at the sidelines after managing to get a BE on my yesterday's shorts. I decided to go for this testing trade in closing hours when a retrace has most possibilty just to test my new system in worst case scenario. I also want to know truth in old saying that it is never too late to buy or sell. But as I said, this is just a testing trade to test my method plus also to test my psychology.
The Thief of Wall Street
  • #104,759
  • Jun 2, 2009 3:49pm Jun 2, 2009 3:49pm
Quoting Paupau MX
sl.. tp?

SL above 1.44 and I'll add one last short to this group around 1.4360.

TP... I always set these on the fly. If uptrend continues, we should still have a small bounce down here, good for a few dozen pips at least. If this follows the chart I posted earlier and indeed is the 50% retrace of the downtrend from 1.60 on the daily... well then my TP will be thousands of pips south of here

If I get stopped out, no big deal. It's just another trade. But if we are going to head south (whether just a few pips due to resistance, a retracement of the current bull move, or resuming the bear trend from 1.60), this is a great place for it to happen.

Note - I'm not "picking a top" and I will never say "we're definitely going down here." I'm just saying this is a great place to enter short if you're looking for a place to do so and don't have some other gameplan running.
  • #104,760
  • Jun 2, 2009 3:53pm Jun 2, 2009 3:53pm
Quoting Chicky
Fx. I was at the sidelines after managing to get a BE on my yesterday's shorts. I decided to go for this testing trade in closing hours when a retrace has most possibilty just to test my new system in worst case scenario. I also want to know truth in old saying that it is never too late to buy or sell. But as I said, this is just a testing trade to test my method plus also to test my psychology.

That's great, and it sounds like some nice work you're doing there. I hope it works out for you!
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