Hope those $1000 was pocket change.
ROBOT FOREX
- #133,981
- Aug 21, 2009 12:39pm Aug 21, 2009 12:39pm
- | Joined Oct 2008 | Status: Trader | 1,035 Posts
- #133,985
- Aug 21, 2009 1:48pm Aug 21, 2009 1:48pm
- | Joined Oct 2008 | Status: Trader | 1,035 Posts
see my today trade
better show this week's results
ROBOT FOREX
- #133,987
- Edited 2:33pm Aug 21, 2009 2:20pm | Edited 2:33pm
- Joined Sep 2008 | Status: Married - 5 Wives | 14,713 Posts
The Thief of Wall Street
- #133,988
- Aug 21, 2009 2:38pm Aug 21, 2009 2:38pm
- Joined Oct 2008 | Status: sideline is a position | 105,146 Posts
those who can, do. those who cant, talk about those who can
- #133,989
- Aug 21, 2009 2:51pm Aug 21, 2009 2:51pm
it's not my business but 1K is NOT a pocket change at all for many people!
Close your eyes when you feel you are going under.
- #133,990
- Aug 21, 2009 3:26pm Aug 21, 2009 3:26pm
- Joined Sep 2008 | Status: Married - 5 Wives | 14,713 Posts
Fair enough Chicky..I take it all in stride..winners and losers..Money Management is the key, and I always mind mine..I've been ahead except when I started incorporating this new analysis into my thinking-maybe I'll shelf it and go back to regular technical stuff making me 6% a week..todays move caught many by surprise..how do the Chinese say it-may you live in interesting times..well at least we got that much, even if they are interesting in a crooked sort of way..Peace my friend
Banked the money but not happy with myself because it tells me that I still cannot follow my own rules
The Thief of Wall Street
- #133,991
- Aug 21, 2009 4:42pm Aug 21, 2009 4:42pm
- Joined Jun 2009 | Status: Trader | 1,946 Posts
Weekly Roundup:
OK, after dowsing some of the glowing embers on my butt from the weeks trading, I got down to some analysis. Lets try to put the weeks events into perspective, and see what we can see.
Two charts below. The first shows an important landmark on the local map, which is a huge run of either stops getting hit, or options contracts getting triggered, or a mix of both. The result was a 100 point spike
downward-which means that they were Short oriented.
This in turn means that a lot of the surrounding resistance which normally affects this area was eliminated. This creates cheap real estate above, free space, and perhaps explains how price moved so easily through important levels of resistance in an overbought state.
If I had caught on to this sooner my short trades would have been long trades and I'd be up instead of down 4% for the week
...
Now, the bouncing off of 4379 is NOT a convincing stopping point to me for the march North-because for one thing, we've passed through much more important points to get there. Its more a case of, this is far enough for now. We're going to blow through the Weekly R1 like cotton candy but get held back by the measly 4hr R1? Not likely.
This brings us to the second chart-its all about the bear trap. We closed trading with a very bullish bear trap formation, which we've seen five times prior this week. I'm pretty sure I fell into a couple of them myself, as I can't find my feet. This supports the idea that we're going to keep moving North a little bit.
Overhead we have the monthly R1 at 4430. So thats big. Also the weekly R2 at 4445, right behind it. And the 4hr R2 at 4423. Together this is a big bad resistance zone and it should do the job of sending us into correction.
Watch the RSI on the 4hr. Its almost cooked. If and when we get up into that 4430 zone it should be in extreme overbought condition. At market open thats what I'll be looking for.
Summary: Market opens up 100 points, bounces off of Monthly R1, and moves into correction for a good Short opportunity. Play the long, play the short, just watch your Money Management, stay comfortable in your trade size.
OK, after dowsing some of the glowing embers on my butt from the weeks trading, I got down to some analysis. Lets try to put the weeks events into perspective, and see what we can see.
Two charts below. The first shows an important landmark on the local map, which is a huge run of either stops getting hit, or options contracts getting triggered, or a mix of both. The result was a 100 point spike
downward-which means that they were Short oriented.
This in turn means that a lot of the surrounding resistance which normally affects this area was eliminated. This creates cheap real estate above, free space, and perhaps explains how price moved so easily through important levels of resistance in an overbought state.
If I had caught on to this sooner my short trades would have been long trades and I'd be up instead of down 4% for the week
...Now, the bouncing off of 4379 is NOT a convincing stopping point to me for the march North-because for one thing, we've passed through much more important points to get there. Its more a case of, this is far enough for now. We're going to blow through the Weekly R1 like cotton candy but get held back by the measly 4hr R1? Not likely.
This brings us to the second chart-its all about the bear trap. We closed trading with a very bullish bear trap formation, which we've seen five times prior this week. I'm pretty sure I fell into a couple of them myself, as I can't find my feet. This supports the idea that we're going to keep moving North a little bit.
Overhead we have the monthly R1 at 4430. So thats big. Also the weekly R2 at 4445, right behind it. And the 4hr R2 at 4423. Together this is a big bad resistance zone and it should do the job of sending us into correction.
Watch the RSI on the 4hr. Its almost cooked. If and when we get up into that 4430 zone it should be in extreme overbought condition. At market open thats what I'll be looking for.
Summary: Market opens up 100 points, bounces off of Monthly R1, and moves into correction for a good Short opportunity. Play the long, play the short, just watch your Money Management, stay comfortable in your trade size.
- #133,993
- Aug 21, 2009 6:27pm Aug 21, 2009 6:27pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
- #133,994
- Aug 21, 2009 6:39pm Aug 21, 2009 6:39pm
- Joined Apr 2009 | Status: Technical Artist | 1,609 Posts
the only rule in forex is that there are no rules. I am sorry if u see an opportunity and dont take it cuz ur rules says not to, you are missing out on a lot
I am living in interesting time today. Made about a month's worth of profit in an hour on today's news break by scapling two off-the-system risky trades.
Banked the money but not happy with myself because it tells me that I still cannot follow my own rules
Its all in the mind.
- #133,996
- Aug 21, 2009 6:49pm Aug 21, 2009 6:49pm
- Joined Jan 2008 | Status: HEY! WHA' HAPPENED? | 15,496 Posts
Not all sins are created equal
- #133,997
- Aug 21, 2009 6:51pm Aug 21, 2009 6:51pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
- #133,998
- Aug 21, 2009 6:57pm Aug 21, 2009 6:57pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
