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Better-than-the-wormhole 555 replies

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The WoRmHoLe

  • #2,761
  • Sep 2, 2009 7:41am Sep 2, 2009 7:41am
Hi WB,

you flat now on cable?
  • #2,762
  • Sep 2, 2009 7:47am Sep 2, 2009 7:47am
Quoting wormboy
Trade end.

GBP USD

1. short @6344 stopped @6225 (0.1)
azim, what is your outlook tonight for gu
thanks
  • #2,763
  • Sep 2, 2009 7:50am Sep 2, 2009 7:50am
Quoting wormboy
Stop amended.

GBP JPY

1. short @151.50 sl @151.05 (0.2)

Added to position

GBP JPY

1. short @151.50 sl @151.05 (0.2)

2. short @150.18 sl @151.05 (0.1)
Thank You
  • #2,764
  • Sep 2, 2009 7:53am Sep 2, 2009 7:53am
martin, francis : yep ,flat cable atm. I'm looking to short again, but not right now. It's too close in between the news commotion & the dow being open for me to jump in.
Thank You
  • #2,765
  • Sep 2, 2009 8:10am Sep 2, 2009 8:10am
Quoting wormboy
martin, francis : yep ,flat cable atm. I'm looking to short again, but not right now. It's too close in between the news commotion & the dow being open for me to jump in.
Maybe it will up 1st then go south deeper anyway, waiting for urs
  • #2,766
  • Sep 2, 2009 8:26am Sep 2, 2009 8:26am
Quoting wormboy
martin, francis : yep ,flat cable atm. I'm looking to short again, but not right now. It's too close in between the news commotion & the dow being open for me to jump in.
Just picked up an article in the Japanese news wires that individual long positions in USD/JPY are at a historical high. The big players in Japan at least are waiting for a sell-off by individual investors, which could be imminent given how the pair went south and psychological stop-losses start getting hit.

With GBP weakness prevailing any sell-off of USD/JPY should significantly pull down GBP/JPY as well.

Me is no fundy (although I do actually hold an MA degree in economics -- I deliberately don't apply it to my trading because I would get too opinionated), but the above supports the recent technical picture.

jesper
  • #2,767
  • Sep 2, 2009 8:29am Sep 2, 2009 8:29am
Reason for short taken earlier & target level to offload at a very critical level.
Attached Image (click to enlarge)
Click to Enlarge Name: gy4.JPG Size: 116 KB
Thank You
  • #2,768
  • Sep 2, 2009 9:22am Sep 2, 2009 9:22am
dear Azim

need your opinion about direction of gu tonight? how do u FEEL

thanks.
  • #2,769
  • Sep 2, 2009 9:32am Sep 2, 2009 9:32am
Quoting francish
dear Azim

need your opinion about direction of gu tonight? how do u FEEL

thanks.
Hi francis,

Too tight to call atm my friend. The dow is still inching lower, the gbplfx is gaining strength & the usdlfx is gaining as well.
I really can't see myself placing any trades under these circumstances.
I'll stay on the sidelines a little longer till I get a good setup. My bias is unchanged tho, it's still bearish.
Thank You
  • #2,770
  • Sep 2, 2009 9:50am Sep 2, 2009 9:50am
Quoting wormboy
Hi francis,

Too tight to call atm my friend. The dow is still inching lower, the gbplfx is gaining strength & the usdlfx is gaining as well.
I really can't see myself placing any trades under these circumstances.
I'll stay on the sidelines a little longer till I get a good setup. My bias is unchanged tho, it's still bearish.
where do you get these gbplfx and usdlfx quotes?
  • #2,771
  • Sep 2, 2009 9:52am Sep 2, 2009 9:52am
Quoting francish
where do you get these gbplfx and usdlfx quotes?
www.liteforex.org

download mt4..

all index is there
  • #2,772
  • Sep 2, 2009 9:54am Sep 2, 2009 9:54am
Quoting francish
where do you get these gbplfx and usdlfx quotes?
Lemme chip in: google "liteforex" to install SIG Trader MT4. It has the currency indices.

Or don't google and just go for it directly:
http://www.liteforex.org/

jesper
  • #2,773
  • Sep 2, 2009 9:55am Sep 2, 2009 9:55am
Quoting noobfx
www.liteforex.org

download mt4..

all index is there
oops. was late. gotta learn blind-touch typing...
  • #2,774
  • Sep 2, 2009 9:58am Sep 2, 2009 9:58am
Quoting jesperweber
Just picked up an article in the Japanese news wires that individual long positions in USD/JPY are at a historical high. The big players in Japan at least are waiting for a sell-off by individual investors, which could be imminent given how the pair went south and psychological stop-losses start getting hit.

With GBP weakness prevailing any sell-off of USD/JPY should significantly pull down GBP/JPY as well.

Me is no fundy (although I do actually hold an MA degree in economics -- I deliberately don't apply it to my trading because I would get...
Thanks jesper.
I'm no fundie either. My trades are almost 100% technicals. I am hoping to try and understand fundies better for the future. I do get help from Gammase1 when trying to understand the fundies side better tbh.
How are you trading coming?
Thank You
  • #2,775
  • Sep 2, 2009 10:05am Sep 2, 2009 10:05am
Quoting wormboy
Thanks jesper.
I'm no fundie either. My trades are almost 100% technicals. I am hoping to try and understand fundies better for the future. I do get help from Gammase1 when trying to understand the fundies side better tbh.
How are you trading coming?
Hmmm... I'm doing pretty good on my demo accounts, but taking it life (I trade for a living) I still consistenly make stupid greed-fear-hope mistakes. Don't laugh, timeframe gets ever shorter if I show a profit, ever longer if I see a loss. I seem to be an eternal beginner

Forever young!!!
  • #2,776
  • Sep 2, 2009 1:23pm Sep 2, 2009 1:23pm
Quoting jesperweber
Hmmm... I'm doing pretty good on my demo accounts, but taking it life (I trade for a living) I still consistenly make stupid greed-fear-hope mistakes. Don't laugh, timeframe gets ever shorter if I show a profit, ever longer if I see a loss. I seem to be an eternal beginner

Forever young!!!
I won't laugh at you buddy
I know exactly what that feels like really, been down that road myself.
I know for a fact that the very thing that worked for me in overcoming the psychological part of trading ie controlling emotion is proper position sizing (risk management). I know for a fact that if you can trade & place a stop so wide that even if it gets hit, it won't bother you, then more than half the time it won't & you'd end up making good gains instead.
By the way, since you trade for a living, if you don't mind me asking, do you have/had other business or did you work before this. I apologise for asking & you don't have to answer that if you don't feel like to.

Regards
Thank You
  • #2,777
  • Sep 2, 2009 2:02pm Sep 2, 2009 2:02pm
GBP USD

1. short @6281 sl @6380 (0.1)

Good luck
Attached Image (click to enlarge)
Click to Enlarge Name: guh4.JPG Size: 78 KB
Thank You
  • #2,778
  • Edited 4:35pm Sep 2, 2009 4:24pm | Edited 4:35pm
Quoting wormboy
GBP USD

1. short @6281 sl @6380 (0.1)

Good luck
yo bro...do u think this mother might be a falling wedge...what do u think ..if it is its bullish..
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  • #2,779
  • Sep 2, 2009 4:44pm Sep 2, 2009 4:44pm
Quoting nAVIN2007
yo bro...do u think this mother might be a falling wedge...what do u think ..if it is its bullish..
lol sure looks like it bro, but it has not breakout the utl so I don't think it's valid. If it does breakout, the descending h4 channel we got going would also be void
Remember the rising wedge on the weekly earlier? That's valid bro. But that's on a longer term basis. Shorter term I'm still gonna play this channel till it's broken.

Okay I'm off, catch you London session bro, have a good one
Thank You
  • #2,780
  • Sep 2, 2009 8:37pm Sep 2, 2009 8:37pm
Quoting wormboy
By the way, since you trade for a living, if you don't mind me asking, do you have/had other business or did you work before this. I apologise for asking & you don't have to answer that if you don't feel like to.

Regards
Hi,

Don't mind at all.

My background academically is in economics, mostly the effect of policy measures on real economic activity. Currently I'm doing research for a PhD, so I'm taking time off from my career and support myself by trading.

My career happened to happen, so to speak, in insurance. Nothing that involves math or other financial modelling, and no fund management either; I was a general manager leading a large team in the personal lines business.

I'm from Germany originally but have been living in Japan for the past 17 years, so that's where all my work experience is. Because of my time zone I trade the Asian and European sessions and try to stay out of NY, either closing out early or setting profit-protecting stops.

My activities on FF here are using the calendar to see when there is event risk. I get lots of mileage out of your thread for the longer term picture; for short term "stimulus" I watch ForexLion's "SeriousTrading" thread (http://www.forexfactory.com/showthread.php?t=191071).

In a nutshell...

jesper
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