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Silent Service Method

  • #2,281
  • Jun 24, 2009 4:43pm Jun 24, 2009 4:43pm
Quoting clockwork71
For our foreign friends:

http://news.yahoo.com/s/ap/20090624/...d_cup_us_spain
http://espanol.sports.yahoo.com/noti...062009-43.html
  • #2,282
  • Jun 24, 2009 4:43pm Jun 24, 2009 4:43pm
Quoting Low
Thanks CW, consider it "tucked" at 1.7890. Sure do wish it had been the real account....

actually, with gbpchf's spread, i would think 1.7880
  • #2,283
  • Jun 24, 2009 7:15pm Jun 24, 2009 7:15pm
say the EURCHF gets back to around 1.50 again, do you think the SNB has done enough 'work' so that it becomes a self fulfilling prophecy type thing and traders push it back up rather than the SNB?

that gbpchf trade, the only time ive taken 200pips and feel angry lol.... damn UFC 2009, too distracting
Grabbing the bull by the horns!
  • #2,284
  • Jun 24, 2009 7:54pm Jun 24, 2009 7:54pm
Quoting whitegoodman
say the EURCHF gets back to around 1.50 again, do you think the SNB has done enough 'work' so that it becomes a self fulfilling prophecy type thing and traders push it back up rather than the SNB?

that gbpchf trade, the only time ive taken 200pips and feel angry lol.... damn UFC 2009, too distracting

In my position, I would be willing to risk 50 pips. I banked about 280 or something earlier, so in a way - it's a free trade.

CW
  • #2,285
  • Jun 24, 2009 8:30pm Jun 24, 2009 8:30pm
anyone long EJ? or i am the only crazy person here
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  • #2,286
  • Jun 24, 2009 9:01pm Jun 24, 2009 9:01pm
CW,

Maybe I'm a bad student, but I just couldn't let the market take me out on the GBP/CHF trade. I closed it for +477 pips.

un-f**king-believable.
  • #2,287
  • Jun 24, 2009 9:21pm Jun 24, 2009 9:21pm
Quoting Low
CW,

Maybe I'm a bad student, but I just couldn't let the market take me out on the GBP/CHF trade. I closed it for +477 pips.

un-f**king-believable.

I guess I can relate. There ARE worse things after all. If you were only up 25 pips, it would have been a different story.

Congrats on the trade.

CW
  • #2,288
  • Jun 24, 2009 10:17pm Jun 24, 2009 10:17pm
Quoting clockwork71
For our foreign friends:

http://news.yahoo.com/s/ap/20090624/...d_cup_us_spain
The first thing I thought when I saw this result...

...I'm never going to hear the end of this from Clock.

I hope Brazil give you guys a spanking.
  • #2,289
  • Jun 24, 2009 11:19pm Jun 24, 2009 11:19pm
Sorry for the off topic..mmhmm..topic.
But looks like a cable showing us a finger

I guess I need a off pc time....
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  • #2,290
  • Jun 25, 2009 7:05am Jun 25, 2009 7:05am
Quoting TiaForex
The first thing I thought when I saw this result...

...I'm never going to hear the end of this from Clock.

I hope Brazil give you guys a spanking.
I'm sure they will.
  • #2,291
  • Edited 9:41am Jun 25, 2009 8:11am | Edited 9:41am
below is my audusd call...good luck all...
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  • #2,292
  • Jun 25, 2009 8:12am Jun 25, 2009 8:12am
Quoting clockwork71
I'm sure they will.
You never know there may be another upset if South Africa beats Brazil to make it a USA vs SA final
  • #2,293
  • Jun 25, 2009 10:38am Jun 25, 2009 10:38am
Up 4.9% this week with maybe one more trade tomorrow if uj bounces off 97 again...
John
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  • #2,294
  • Jun 25, 2009 11:37am Jun 25, 2009 11:37am
Quoting jicjoc
Up 4.9% this week with maybe one more trade tomorrow if uj bounces off 97 again...
John

Only 4.9%? That's pretty sad there.
  • #2,295
  • Jun 25, 2009 11:37am Jun 25, 2009 11:37am
Quoting MinceMeat
You never know there may be another upset if South Africa beats Brazil to make it a USA vs SA final
Maybe, but I will not hold my breath on that one.
  • #2,296
  • Jun 25, 2009 11:48am Jun 25, 2009 11:48am
Quoting clockwork71
Maybe, but I will not hold my breath on that one.
Lol. Sure it's unlikely but being South African I'm gonna have to back my country
  • #2,297
  • Jun 25, 2009 12:04pm Jun 25, 2009 12:04pm
I shorted yesterday's daily pin on the GBP/USD, then listened to CW's blog post....when he said he was long on the pound....after a bit of thought, I believed the trade had enough validity to leave open.

Moved SL to BE, and set a TP of around 120 pips at first resistence. Price missed my TP by 1 pip, and rebounded.

Just closed for +86 pips. Not bad for being wrong on a counter-trend trade.
  • #2,298
  • Jun 25, 2009 12:10pm Jun 25, 2009 12:10pm
Quoting clockwork71
In my position, I would be willing to risk 50 pips. I banked about 280 or something earlier, so in a way - it's a free trade.

CW
Chris - how did you manage the CHF trade? Did you just set a TP at the first daily S/R level? Or did you trail somehow?

Cheers
Simon
  • #2,299
  • Jun 25, 2009 12:48pm Jun 25, 2009 12:48pm
Hello CW71 and others,

I would like to know if anyone here would have considered the chart below to be a doubletop or a double pinbar... I managed some +pips with my TS but I would appreciate some feedback..... never too old to listen

Thanks,
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Unus pro omnibus, omnes pro uno
  • #2,300
  • Edited 1:12pm Jun 25, 2009 12:56pm | Edited 1:12pm
Hello equally to everyone, this is my first post here. I’ve been reading this thread for a while now after I accidentally found Chris’ blog. I’ve gained a few great insights from all of you, keep it coming!

But why am I writing? First, I think all this relates to this thread, If you don't, then feel free to delete this. I don’t know if you guys are boxing fans, but I am and once again I watched the heavyweight title fight, Klitschko – Chagaev on Saturday. Many think that Klitschko is boring to watch and that he should not be a heavyweight champion. Personally I like both Klitschkos because they’re respectable people and also great fighters, but I leave it up to you to decide whether you like them or not since the point of my post is trading related (I promise). But I believe that many of the traits W Klitschko has are also vital in trading. Let me elaborate more carefully what I think:

1)
Klitschko has a style that fits him. He once had a few problems with his chin and got knocked-out. But he learned his lesson and knows his best attack is his defence. One can only rarely see Klitschko taking in even small punches. Second, his style fits his body perfectly: with his reach the great jab is a deadly weapon. One can read about these same things in trading books, at least I have. In trading it’s probably even easier to get knocked out than in the ring. And I’ve learned that I personally can’t play Mike Tyson in the markets as I have quite low risk tolerance.

2)
Patience. This is what I think is the most important lesson I’ve grasped from this thread, although Livermore talks about this quite a lot (I am the kind of person that has to smack the information into my head before I get things…). Klitschko doesn’t go Gun Ho in the first round. He could have probably knocked out most of his last, say ten, opponents in the early rounds if he would had wanted to. But he knows the risks and he knows as well that his odds of winning the fight after first killing the opponent with that great jab are increased in the latter rounds. Klitschko knows that sooner or later he’ll have the opportunity for that big right hand that will put the fight to an end. Well, it might be rare for a beginner like me to get a trade that would make my account. However, like CW continually points out, the odds of winning are way better if you’re not taking small (or heavy) punches all night long. I mean what if Klitschko is boring, does he fight to get his head banged? At least I wouldn't.

3)
Confidence but not overconfidence. Little bit repetition here, Klitschko knows he’ll get chances but he equally respects all his opponents no matter if they were small or like Valuev (214cm). I think one’ll lose in every field if she is overconfident, yet healthy confidence is, in my opinion, always a plus.

4)
Game plan. Klitscko has a certain style and he has a predefined strategy to implement that style. Lately it has been first tiring the opponent down and then knocking him out in the latter rounds. I believe that whether it’s boxing or trading, one’ll get hurt if he doesn’t have a plan.

5)
Hard work. I think this is pretty obvious. Klitscko does not just lie on a beach for three months and then get in to the ring for a fight. He trains hard like all the top boxers (and you can truly tell that from his body). There are no free lunches. I must cite here Livemore: But the average man doesn't wish to be told that it is a bull or a bear market. What he desires is to be told specifically which particular stock to buy or sell. He wants to get something for nothing. He does not wish to work. He doesn't even wish to have to think. It is too much bother to have to count the money that he picks up from the ground. Klitschko did not became a champ in a day. Why would one think to become the next Market Wizard overnight?

Just my thoughts. Now, I am a newbie trader (I consider myself a trader who has learned the basic theory well but who has to learn the practice now…) and I know some of you will wine about me “telling truths about trading” but I am not posting to improve my self-confidence. All this really popped into my mind on Saturday. I think this a perfect example of CW’s thought “trading is just a reflection of life”. Sorry about the long post, hopefully it makes some sense.
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