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  • #108,141
  • Jun 9, 2009 10:56pm Jun 9, 2009 10:56pm
Quoting knuckledrag
Chicky, just for fun calculate what would happen if you took 50% profit as soon as you reached your equivalent stop loss (ie break even). Close another 25% at 125% of Break Even and move stop to entry Your a numbers man so you should find that in a trending run your golden, and in a ranging market you break even. Just go with the trend and always expect to loose when you enter a trade (money management), and always enter only on pullbacks.


Luck be with you
Sorry Knuck, I was away for a while. Yes this is what I do. Enter with 1:1 r/r, put sl at convenient place, take 50% profit but do not move my sl (because they are at very logical places). Now if trade turns against me and hits sl, I am stopped out at BE. If it goes to next level, wow!
The Thief of Wall Street
  • #108,142
  • Jun 9, 2009 10:56pm Jun 9, 2009 10:56pm
are we still on a down trend? i shorted at 1.4075
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  • #108,143
  • Jun 9, 2009 10:58pm Jun 9, 2009 10:58pm
.3900 here we come!
  • #108,144
  • Jun 9, 2009 11:24pm Jun 9, 2009 11:24pm
this right shoulder should cave in... at what time (EST US) does london opens?
"Do or do not... there is no try" Master Yoda
  • #108,145
  • Jun 9, 2009 11:27pm Jun 9, 2009 11:27pm
Quoting Paupau MX
this right shoulder should cave in... at what time (EST US) does london opens?
3.5 hours from now afaik.
  • #108,146
  • Jun 9, 2009 11:28pm Jun 9, 2009 11:28pm
Quoting Paupau MX
this right shoulder should cave in... at what time (EST US) does london opens?
GMT-5 = 3AM. Where in Mexico are you?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #108,147
  • Jun 9, 2009 11:30pm Jun 9, 2009 11:30pm
Quoting TrooperCoope
3.5 hours from now afaik.
i hope it does before that time, i dont want to miss it, its going to be big... unless of course the big boys take advantage ouf our money and turn it the other way
"Do or do not... there is no try" Master Yoda
  • #108,148
  • Jun 9, 2009 11:30pm Jun 9, 2009 11:30pm
Quoting TrooperCoope
3.5 hours from now afaik.
2.5
Traders are smartasses
  • #108,149
  • Jun 9, 2009 11:35pm Jun 9, 2009 11:35pm
2.5 , and be aware that Frankfurt opens one hour before London and sometimes you see the "infamous" Frankfurt headfake, which pushes prices one way only to reverse when London opens.
If only I knew then what I know now...
  • #108,150
  • Jun 9, 2009 11:36pm Jun 9, 2009 11:36pm
I have faith in our tea and crumpet eating friends.
  • #108,151
  • Jun 9, 2009 11:37pm Jun 9, 2009 11:37pm
Quoting trading801
interesting.. the daily PA tries to creep back to channel


seems like this is still in play
  • #108,152
  • Jun 9, 2009 11:39pm Jun 9, 2009 11:39pm
I didn't want to but I'm going to have to call Chuck Norris and ask him what he thinks.
  • #108,153
  • Jun 9, 2009 11:40pm Jun 9, 2009 11:40pm
Quoting Alexgee
2.5 , and be aware that Frankfurt opens one hour before London and sometimes you see the "infamous" Frankfurt headfake, which pushes prices one way only to reverse when London opens.

Mmmmh... I am confused by daylight changes still. Anyway, it is 6.40 am here in Germany right now. And Frankfurt should open at 8 am, so in 1 hour 20 minutes...
  • #108,154
  • Jun 9, 2009 11:43pm Jun 9, 2009 11:43pm
Hi folks

This chart is still very, very premature but I think it will start to play a serious roll in the upcoming London session.

My "feeling" goes more to the bear side but will wait a break out.

If you like to, watch out those levels.
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  • #108,155
  • Jun 9, 2009 11:48pm Jun 9, 2009 11:48pm
Quoting 2+2=4ex
I didn't want to but I'm going to have to call Chuck Norris and ask him what he thinks.

Hehe, do it, do it. Lay one on me. Do it, do it.


don't call CN the the whole market will disappear...
  • #108,156
  • Jun 9, 2009 11:49pm Jun 9, 2009 11:49pm
Quoting cobraforex
Hi folks

This chart is still very, very premature but I think it will start to play a serious roll in the upcoming London session.

My "feeling" goes more to the bear side but will wait a break out.

If you like to, watch out those levels.
thanks Mr. Cobra, then i guess i can take my full 8 hr sleep, I just hope i dont regret it in the morning.

but then again... its just money
"Do or do not... there is no try" Master Yoda
  • #108,157
  • Jun 9, 2009 11:50pm Jun 9, 2009 11:50pm
Quoting cobraforex
Hi folks

This chart is still very, very premature but I think it will start to play a serious roll in the upcoming London session.

My "feeling" goes more to the bear side but will wait a break out.

If you like to, watch out those levels.

as we discussed earlier.. I think, we think. Ehm... that oil is going up.
  • #108,158
  • Jun 9, 2009 11:54pm Jun 9, 2009 11:54pm
I'm writing a book... the title is "Forex: world's largest charade"
  • #108,159
  • Jun 10, 2009 12:05am Jun 10, 2009 12:05am
Read my post well please, it’s not a call, it’s a possible scenario which might happen and you can analyze it on your chart to maybe later convert it into a position if you feel comfort with it.

It’s still missing 2 hours till our London fellows open the gates and I need to correct the values at that time.

Never ever take a call which you don’t see on your own chart.

Quoting Paupau MX
thanks Mr. Cobra, then i guess i can take my full 8 hr sleep, I just hope i dont regret it in the morning.

but then again... its just money
  • #108,160
  • Jun 10, 2009 12:10am Jun 10, 2009 12:10am
Quoting Paupau MX
this right shoulder should cave in... at what time (EST US) does london opens?

Well.....not so fast. Market is notorious for playing hurry up and wait.
Although I don't have a dog in this hunt - currently waiting (patiently) on the sideline,
well, maybe not so patient, but I'm waiting dammit.

And I think the BSD's appear to be building/engineering a decent looking Head and Sholders pattern.

Should be a good sell.

The only thing is, if these "artists" are attempting to construct a reasonably symmetrical H&S,
then this could take another day or two. Take a look at some of the measured distances
between the neckline and the peaks. If symmetry is what the makets is after, it could take until Friday.

On top of all that, mkt look like it wants to challenge the trendline resistance, some 100 pts away.

If the trendline was the target:

That would equate to about a .707 ret. of the move down from 14338 to 13805~
and a .786 ret. of the high/low from the NFP spike @ 14265 down to the same 13800'ish area.

Just an observation. Sell as much as you want, just need to keep a wide stop,
because there's still room on top before the fall, so size positions accordingly.
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