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Silent Service Method

  • #2,021
  • Jun 16, 2009 5:57pm Jun 16, 2009 5:57pm
Quoting clockwork71
Most brokers that offer demos are last week's prices, etc. IB does something like this. TO be honest - I would just paper trade them for a while.

If you go to IB, you should make sure you are used to the platform, as it's a lot trickier than MT4. (Does a TON more too.)

CW
Id reccommend also to go through the IB webinars on their website...
Grabbing the bull by the horns!
  • #2,022
  • Jun 16, 2009 6:00pm Jun 16, 2009 6:00pm
Quoting clockwork71

Funny how less stressful it is. Think of it like looking at the city below from the top of the Empire State Building. There is a lot of traffic coming and going.....but up there - it's a lot easier to see what is really going on. When you are at street level (5 minute chart) everything seems like total chaos.
Nice...i like that comparison! And I must admit, i used to never look at the daily charts and only traded off 1hr charts and less...I think I got a few gray hairs b/c of it.
  • #2,023
  • Jun 16, 2009 6:51pm Jun 16, 2009 6:51pm
Quoting clockwork71
Most brokers that offer demos are last week's prices, etc. IB does something like this. TO be honest - I would just paper trade them for a while.

If you go to IB, you should make sure you are used to the platform, as it's a lot trickier than MT4. (Does a TON more too.)

CW
Thanks CW and Whitegoodman. Appreciate the advice. I will look into this.
  • #2,024
  • Jun 16, 2009 6:57pm Jun 16, 2009 6:57pm
Watching MSFT at the moment.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: msftdaily.png Size: 71 KB
Click to Enlarge Name: msftweekly.png Size: 99 KB
  • #2,025
  • Jun 16, 2009 8:32pm Jun 16, 2009 8:32pm
Quoting drebin
Thanks CW. Is there any way to demo stock or options trading? If so, can you recommend any platforms,etc.? Thanks again.
You can open a dummy account at Intractive Brokers to test trades, but only after you have opened a real live account.
"Money is easy to make, but hard to keep" - FWV 1975
  • #2,026
  • Jun 16, 2009 8:38pm Jun 16, 2009 8:38pm
Quoting clockwork71
Watching MSFT at the moment.
CW

How will you make decision if and when to short this?
"Money is easy to make, but hard to keep" - FWV 1975
  • #2,027
  • Jun 16, 2009 9:09pm Jun 16, 2009 9:09pm
Quoting bjohn34
CW

How will you make decision if and when to short this?
I would short it if it breaks below the pinbar. Maybe by about 20 cents.
  • #2,028
  • Jun 17, 2009 12:32am Jun 17, 2009 12:32am
Hi Chris. This is my 100th post since joining FF. most of them have been in this thread. i have learned and re-learned a lot. Thanks for taking the time to share!
  • #2,029
  • Jun 17, 2009 12:59am Jun 17, 2009 12:59am
Hi all, been away for a while and couldn't get online (it's primitive here in the Uk you know )

As a consequence I'm still in Gbp Usd but would have been closed out for 400 or so pips if I had've been online so probably for the best. Anyone got an opinion on GbpUsd at the moment? I'm still holding on for 1.70 but if it breaks 1.65 again I'm definitey moving the stop loss to 1.6450 or so.

Another interesting trade I took last night is UsdChf at 1.09, could be a nice 300-400 pips here.

Also, I'm still short EurNzd. Been in it since 2.24 and it's broken 2.20 and seems to be staying below it, just waiting for the next big push down.

I shorted gold at 965 too with a target of 865. These seem to be the only reliable s/r levels on gold.
  • #2,030
  • Jun 17, 2009 1:14am Jun 17, 2009 1:14am
Quoting drebin
Thanks CW. Is there any way to demo stock or options trading? If so, can you recommend any platforms,etc.? Thanks again.

drebin-
OptionsXpress and Zecco will let you demo stocks and options trades.
Hope this helps.
  • #2,031
  • Jun 17, 2009 7:14am Jun 17, 2009 7:14am
Ive been looking at gold and trying to get it figured out. How big of a stop do you normally put on it. Do you know of any site to give me a solid crash course on it?

Quoting hel13rock
Hi all, been away for a while and couldn't get online (it's primitive here in the Uk you know )

As a consequence I'm still in Gbp Usd but would have been closed out for 400 or so pips if I had've been online so probably for the best. Anyone got an opinion on GbpUsd at the moment? I'm still holding on for 1.70 but if it breaks 1.65 again I'm definitey moving the stop loss to 1.6450 or so.

Another interesting trade I took last night is UsdChf at 1.09, could be a nice 300-400 pips here.

Also, I'm still short EurNzd. Been in it since 2.24 and...
  • #2,032
  • Jun 17, 2009 8:12am Jun 17, 2009 8:12am
Quoting Nanook438
drebin-
OptionsXpress and Zecco will let you demo stocks and options trades.
Hope this helps.

Thanks Nanook! I will check these out.
  • #2,033
  • Jun 17, 2009 9:13am Jun 17, 2009 9:13am
Quoting kodflakes
Ive been looking at gold and trying to get it figured out. How big of a stop do you normally put on it. Do you know of any site to give me a solid crash course on it?
I just followed the theory from this thread. I can only really see 2 significant levels for gold at the moment as I mentioned in my previous post. 965 at the top and 865 at the bottom. I sold it at 955 after it broke down through 965 and retested it. There is a nice down candle on the 4 hr chart which I used as my signal.

My stop loss is just above 965 but it's now down to about 930. I'm just over $20 up on 0.01 volume so I'm quite happy with that but I think it could easily reach 865 within the next few weeks. I'll be trailing the stop down if today stays a down candle.
  • #2,034
  • Jun 17, 2009 9:23am Jun 17, 2009 9:23am
Quoting clockwork71
Update of UNG......I still have the $12 October puts sold. Thought with the gap up today that $15.50 was overcome.....got clipped. It happens. ROughly a 2% profit so far, with options it will be a total of 5%, and maybe more if I go long again.
This link explains what's happening with natural gas and UNG in particular.
http://www.thestreet.com/story/10518...drawbacks.html
Enter Signature
  • #2,035
  • Jun 17, 2009 10:50am Jun 17, 2009 10:50am
CW ( or anyone else),

The AUD/USD daily looks to be testing support at .7850 after a double-top. would you short a break of support, or wait for a retest to confirm that support has turned into resistance?

I ask because price tends to fall faster than it climbs.

Obviously, a third choice is, leave it alone, I have already missed the bus.


http://i41.tinypic.com/2h4c41g.png
  • #2,036
  • Jun 17, 2009 11:25am Jun 17, 2009 11:25am
Quoting SquareRoot
This link explains what's happening with natural gas and UNG in particular.
http://www.thestreet.com/story/10518...drawbacks.html
SR,
Thanks for finding this article. That is really interesting. I never would have expected that an ETF would start bullying a futures contract... if that is in fact happening (or in danger of happening).

NGM9 (June09 contract) expired 5/27. The NG and UNG charts look identical to me (meaning the roll didn't affect the price). I won't be concerning myself with what is underlying anyway... as we're always told - Trade your own chart... The UNG chart provided a good setup. It's irrelevant to me what the price represents. If you traded it, great. If you are still in it, just keep following your strategy.

CW, sorry for getting off topic.

Just my 2,

Josh
  • #2,037
  • Jun 17, 2009 12:27pm Jun 17, 2009 12:27pm
Like...this method, is totally bunk. I turned $10 into $45 million scalping 1 minute charts during NFP with 6 MA's, 4 fibs, 14 TL's, RSI, stochs, and MACD.

So there.

(this thread was missing something...LOL.)

Enough BS, excellent material CW, traders helping traders (and newbs like me), with respect.
You are a asset to FF, and to us your humble readers.
  • #2,038
  • Jun 17, 2009 3:30pm Jun 17, 2009 3:30pm
Looks like MSFT pin broke to the 365 EMA and now showing a pinbar in the other direction.
  • #2,039
  • Jun 17, 2009 7:51pm Jun 17, 2009 7:51pm
Quoting SquareRoot
This link explains what's happening with natural gas and UNG in particular.
http://www.thestreet.com/story/10518...drawbacks.html

I understand a lot of people don't like the ETF's because of some of these issues brought up. This would be true for investing.....but I am a trader, which is totally different.

CW
  • #2,040
  • Jun 17, 2009 7:52pm Jun 17, 2009 7:52pm
Quoting Low
CW ( or anyone else),

The AUD/USD daily looks to be testing support at .7850 after a double-top. would you short a break of support, or wait for a retest to confirm that support has turned into resistance?

I ask because price tends to fall faster than it climbs.

Obviously, a third choice is, leave it alone, I have already missed the bus.


http://i41.tinypic.com/2h4c41g.png

I would say you have missed the boat to go long.....if you want to go long, hope for a larger pullback in my opinion.

If you want to go short on a break, that would be a little more supported by this chart.

I have been ignoring this pair lately to be honest.

CW
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