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Trade what you see NOT what you expect

  • #18,001
  • Jul 9, 2009 12:13pm Jul 9, 2009 12:13pm
I took a short at 6363 and put 10 pips in the bank and stop is at BE. If it takes me out then I'll find another seat.
  • #18,002
  • Jul 9, 2009 12:17pm Jul 9, 2009 12:17pm
Quoting KENNETH lEE
here you go
Thanks ken! now I'll have to find 40 million of those ....
Patience + Discipline - Greed = Success
  • #18,003
  • Jul 9, 2009 12:17pm Jul 9, 2009 12:17pm
Quoting PippiNole
I took a short at 6363 and put 10 pips in the bank and stop is at BE. If it takes me out then I'll find another seat.

did the same at 65 but closed for 16 sorry 13
Good Trading To All ; Ken Lee
  • #18,004
  • Jul 9, 2009 12:18pm Jul 9, 2009 12:18pm
I had an appointment this morning, i am a member in good standing on the urinary track team

Tried a short before NY session from 6260, took 20 and s/l +2. Got back just in time to take a short around 6300......whacked for 30 real quick!

Have not taken anything since...figured i was out of the zone. Good thing i still have 1 soldier running up from yesterday around 5989! Wish i had more of hims.

Trying to teach Bob some old Robert Johnson blues at the moment!
  • #18,005
  • Jul 9, 2009 12:24pm Jul 9, 2009 12:24pm
Quoting PippiNole
I took a short at 6363 and put 10 pips in the bank and stop is at BE. If it takes me out then I'll find another seat.

Wished I would have taken the same trade on the E/J it was worth 40 pips max.. I could have gotten 18 anyway

Actually last few days I have been holding for more and even leaving a bit on . I haven't had a great entry to really let it run yet. Except maybe this last gbp short but it don't feel right .
Good Trading To All ; Ken Lee
  • #18,006
  • Jul 9, 2009 12:24pm Jul 9, 2009 12:24pm
We've made a 50% retracement from the high of 1.6743 on 6-30 to the low of 1.5983 on 7-8. I'm looking for a short from here if I get the signal.
Attached Image
Hi, my name is Barry and you can keep your doctor...
  • #18,007
  • Jul 9, 2009 12:24pm Jul 9, 2009 12:24pm
Quoting PippiNole
I took a short at 6363 and put 10 pips in the bank and stop is at BE. If it takes me out then I'll find another seat.
I closed my longs that I opened earlier today at 65 and reversed.. looking for a retest of the m15 50 or h1 50/62..
Patience + Discipline - Greed = Success
  • #18,008
  • Jul 9, 2009 12:25pm Jul 9, 2009 12:25pm
Looks like this last little run up failed to make a new high.

Think it is time to start looking for a short...... or is this up move for real.

Seems to me this just may be an oppertunity for all the upside down longs to salvage a little bit. Hope they were taking advantage and doubled up trying to get out at break even. Squeezed out a lot of stops also i suspect.

Will the 4h close tell us?
  • #18,009
  • Jul 9, 2009 12:28pm Jul 9, 2009 12:28pm
Quoting Shilva
Looks like this last little run up failed to make a new high.

Think it is time to start looking for a short...... or is this up move for real.

Seems to me this just may be an oppertunity for all the upside down longs to salvage a little bit. Hope they were taking advantage and doubled up trying to get out at break even. Squeezed out a lot of stops also i suspect.

Will the 4h close tell us?
I don't think we'll get a true picture of what's happening until tomorrow's close...the weekly will show us the way...
Patience + Discipline - Greed = Success
  • #18,010
  • Jul 9, 2009 12:29pm Jul 9, 2009 12:29pm
Quoting Infinity
I closed my longs that I opened earlier today at 65 and reversed.. looking for a retest of the m15 50 or h1 50/62..
So far I'm on that ride with you and I also took a short on EJ and have put 25 pips in the bank and stop is at BE.
  • #18,011
  • Jul 9, 2009 12:29pm Jul 9, 2009 12:29pm
jamaican dollar ain't worth much either....
Patience + Discipline - Greed = Success
  • #18,012
  • Jul 9, 2009 12:33pm Jul 9, 2009 12:33pm
Quoting Infinity
jamaican dollar ain't worth much either....
I found a conversion table I pasted it but when it refreshed it was changed.. Oh well. another practice in futility. anyway 40000000 rupee's cost about 825,000 us.
Good Trading To All ; Ken Lee
  • #18,013
  • Jul 9, 2009 12:35pm Jul 9, 2009 12:35pm
A close above this line could be bullish...
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Patience + Discipline - Greed = Success
  • #18,014
  • Jul 9, 2009 12:37pm Jul 9, 2009 12:37pm
Quoting Infinity
A close above this line could be bullish...
Thanks for the chart ..
Good Trading To All ; Ken Lee
  • #18,015
  • Jul 9, 2009 12:37pm Jul 9, 2009 12:37pm
Quoting KENNETH lEE
I found a conversion table I pasted it but when it refreshed it was changed.. Oh well. another practice in futility. anyway 40000000 rupee's cost about 825,000 us.
Thanks for that Ken....
Patience + Discipline - Greed = Success
  • #18,016
  • Jul 9, 2009 1:03pm Jul 9, 2009 1:03pm
Ok guys... my shorts are covered... I booked a few pips but I think it may be stopped out... I see a high possibility of us heading to 642x and will be looking for another long seat later on...
Patience + Discipline - Greed = Success
  • #18,017
  • Jul 9, 2009 1:04pm Jul 9, 2009 1:04pm
closed my longs for 98 and 56 pips waiting to see what is going to happen next I agree with Infinity we will probable only know tomorrow after the weekly close
  • #18,018
  • Jul 9, 2009 1:08pm Jul 9, 2009 1:08pm
Quoting Infinity
Ok guys... my shorts are covered... I booked a few pips but I think it may be stopped out... I see a high possibility of us heading to 642x and will be looking for another long seat later on...
Based on the bounce from 6000 I agree as well. No idea if the stock market is finished the decline however the broken H/S patterns in the DJIA and Sp500 may prompt further downside to their projections (I calculated the DJIA to project to roughly 7600, there's a 50% level there as well).

Since the stock market fall has driven alot of GU's fall this week (dollar strength across the board), 642x may be a good area to try a short trade off the GU daily big 38.2% level (2.12 to 1.35) until finding support to long again.

Sry if any of the above was redundant. I didn't read any old posts. This is my first post here!

Cheers.
  • #18,019
  • Jul 9, 2009 1:09pm Jul 9, 2009 1:09pm
Quoting davids
closed my longs for 98 and 56 pips waiting to see what is going to happen next I agree with Infinity we will probable only know tomorrow after the weekly close
The daily is very stong so continuation is likely between now and london session... after a retracement to the m15 50 hopefully... my shorts need that....
Patience + Discipline - Greed = Success
  • #18,020
  • Jul 9, 2009 1:11pm Jul 9, 2009 1:11pm
Quoting Infinity
The daily is very stong so continuation is likely between now and london session... after a retracement to the m15 50 hopefully... my shorts need that....
Have you still got shorts running bro?
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