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Silent Service Method

  • #4,821
  • Aug 24, 2009 7:48am Aug 24, 2009 7:48am
usdcad (and all other cad crosses) seem to be at a critical point now.
Currently short usdcad since 1.0950, long cadjpy since 86.58
I know they're really the same move, but both looked great...

Eurcad was lovely aswell

Cad either breaks down or remains in the box, and we go long to 1.1 again.
Happy days...

Thanks Chris!


Edit - Just looking at cadjpy - if it gets above 90 - then there doesnt seem to be anything stopping it getting to 96?
  • #4,822
  • Aug 24, 2009 8:58am Aug 24, 2009 8:58am
Quoting jicjoc
usdcad (and all other cad crosses) seem to be at a critical point now.
Currently short usdcad since 1.0950, long cadjpy since 86.58
I know they're really the same move, but both looked great...

Eurcad was lovely aswell

Cad either breaks down or remains in the box, and we go long to 1.1 again.
Happy days...

Thanks Chris!


Edit - Just looking at cadjpy - if it gets above 90 - then there doesnt seem to be anything stopping it getting to 96?
Yeah, watching USDCAD from the sidelines - Took a 50pip profit when it could have been almost 300. Ah well, such is life. I'm trying not to dwell on it...
  • #4,823
  • Aug 24, 2009 9:20am Aug 24, 2009 9:20am
Quoting jicjoc

Edit - Just looking at cadjpy - if it gets above 90 - then there doesnt seem to be anything stopping it getting to 96?

I agree. I think there is nothing but air there.
  • #4,824
  • Aug 24, 2009 10:05am Aug 24, 2009 10:05am
Hey Clock,

I listened to your latest audio piece. There is a lot of truth in the concept of trailing stops and letting the market take you out as opposed to cutting off the winning trade in its infancy.

That is why i was breaking even for almost a year now. Because of that concept. I had at least 100 trades and was barely over my initial balance.
Kind of frustrating to think of all that work i did and still break even LOL.

Now i am targeting at least 2:1 and then whatever the market gives on top of that .
  • #4,825
  • Aug 24, 2009 11:34am Aug 24, 2009 11:34am
Quoting jicjoc
Edit - Just looking at cadjpy - if it gets above 90 - then there doesnt seem to be anything stopping it getting to 96?
My weekly shows a bit of resistance at 93, going back to summer of 2005.
Just something to think about.
  • #4,826
  • Aug 24, 2009 1:13pm Aug 24, 2009 1:13pm
Quoting Razorman
Hey Clock,

I listened to your latest audio piece. There is a lot of truth in the concept of trailing stops and letting the market take you out as opposed to cutting off the winning trade in its infancy.

That is why i was breaking even for almost a year now. Because of that concept. I had at least 100 trades and was barely over my initial balance.
Kind of frustrating to think of all that work i did and still break even LOL.

Now i am targeting at least 2:1 and then whatever the market gives on top of that .

We have all been there, and it sucks.
  • #4,827
  • Aug 24, 2009 4:02pm Aug 24, 2009 4:02pm
Two new vids in forum today.
  • #4,828
  • Aug 24, 2009 4:19pm Aug 24, 2009 4:19pm
Quoting clockwork71
Two new vids in forum today.
Hi Cris. Can you tell me where?
  • #4,829
  • Aug 24, 2009 5:14pm Aug 24, 2009 5:14pm
Quoting blackhell
Hi Cris. Can you tell me where?
Sorry, should have said private forum. Was having issues with email, and wasnt sure if all my people got notified earlier.
  • #4,830
  • Edited 10:45pm Aug 24, 2009 9:41pm | Edited 10:45pm
Quoting whitegoodman
great post soca... simplicity is everything...

another thing thats helped me with trading is put $2k in my account and then earn the right to put more in, ive got a heap on the sidelines just waiting for me to prove to myself I deserve to top up my account. When my trading (psychology mainly) get better and im consistent then I will think about topping up the account...

this is probably unrelated to your post (some things send me off on tangents), but just another thing regarding psychology that has helped me lately.. I think it helps cause...
Thanks WG, and that sounds like an excellent plan to me... It's definitely related.

One's emotional attachment to money is probably the most difficult challenge to face in order to be a consistent or successful trader, especially in a culture that's largely built around the belief that money is life. So courage becomes the currency of choice then to immerse ourselves in this world, not as an alternative but part of the intelligence required to disentangle us from a seriously limited realization of our potential, which is beyond the scope of this thread of course. Albeit trading has been and continues to be a powerful means to help me realize my living truth, for some key reasons I've spoken to in my last post.

Soca
  • #4,831
  • Aug 24, 2009 10:11pm Aug 24, 2009 10:11pm
Hey guys just found an iinteresting site looks like a chat room for forex just requested a beta if anyone else is interested here is the site
http://www.currensee.com/
  • #4,832
  • Aug 24, 2009 10:18pm Aug 24, 2009 10:18pm
One's emotional attachment to money is probably the most difficult challenge to face in order to be a consistent or successful trader, especially in a culture that's largely built around the belief that money is life. So courage becomes the currency of choice then to immerse ourselves in this world, not as an alternative but part of the intelligence required to disentangle us from a seriously limited realization of our potential, which is beyond the scope of this thread of course. Albeit trading has been and continues to be a powerful means to help me realize my living truth, for some reasons I've spoken to in my last post.

Soca[/quote]


Good stuff SOCA-tres
  • #4,833
  • Aug 24, 2009 11:45pm Aug 24, 2009 11:45pm
Quoting kodflakes
One's emotional attachment to money is probably the most difficult challenge to face in order to be a consistent or successful trader, especially in a culture that's largely built around the belief that money is life. So courage becomes the currency of choice then to immerse ourselves in this world, not as an alternative but part of the intelligence required to disentangle us from a seriously limited realization of our potential, which is beyond the scope of this thread of course. Albeit trading has been and continues to be a powerful means...

Good stuff SOCA-tres[/quote]

This was a very good post6, I agree 115%.
  • #4,834
  • Edited 5:43am Aug 25, 2009 5:16am | Edited 5:43am
That spike down on cadjpy took me out for just under 1%. Pity that...
Usdcad still going, but unsure looking. Small daily movement. It might break out yet...
  • #4,835
  • Aug 25, 2009 9:11am Aug 25, 2009 9:11am
Hi
I've just spotted this quote by Merlin, and, as I've been becoming increasingly 'curious' about futures, wondered what anybody else's opinions are?

"......every forex trader should have a futures account. thats when you graduate to "currency trader"
  • #4,836
  • Aug 25, 2009 9:28am Aug 25, 2009 9:28am
Quoting Interceptor
Hi
I've just spotted this quote by Merlin, and, as I've been becoming increasingly 'curious' about futures, wondered what anybody else's opinions are?

"......every forex trader should have a futures account. thats when you graduate to "currency trader"

The biggest issue about futures trading is that it takes so much more money than a forex account. (due to the minimum lot/contract size.) Futures to me always seemed more like a scalper's market.

Chris
  • #4,837
  • Aug 25, 2009 11:01am Aug 25, 2009 11:01am
With GBP weakness showing up in a few crosses, and the fact I was waiting to see if this potential box would hold - I have been talking about this chart for a bit now.

Today, we got our answer......
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-08-25_1158.png Size: 56 KB
  • #4,838
  • Aug 25, 2009 12:26pm Aug 25, 2009 12:26pm
Quoting clockwork71
With GBP weakness showing up in a few crosses, and the fact I was waiting to see if this potential box would hold - I have been talking about this chart for a bit now.

Today, we got our answer......

Chris.

Would you short a retest-failure of 1.74-1.75?
  • #4,839
  • Aug 25, 2009 12:53pm Aug 25, 2009 12:53pm
Quoting Low
Chris.

Would you short a retest-failure of 1.74-1.75?
One way to play it is that way. If you are a little more aggressive, you are short already.
  • #4,840
  • Aug 25, 2009 1:03pm Aug 25, 2009 1:03pm
Quoting clockwork71
Today, we got our answer......
Hi chris, yes we got.

Entered this trade as the brickwall held an was broken upside with a DBLHC. First I had a TP at the upper side of the box but the shape of the green bars before they hit the upper side let me assume a nice bullish momentum, so I decided to remove the TP and trail my stop instead. Was not at home since monday morning and just took a look and it's nice to see that my "feelings" I have had about this bars were right.

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP-2009-08-25-19-50-54-Alpari-UK-Ltd.png Size: 37 KB


Stefan.
10 x 100 = 100 x 10, stefx, retired scalper.
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