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Silent Service Method

  • #5,061
  • Sep 10, 2009 7:49pm Sep 10, 2009 7:49pm
hi

i intend to short EURAUD. i saw a pin bar on the daily chart and it has broken 1.7000 and price seem to be coming back to retest the resistance. Dropping to the 4hrs chart , there seem to be a outside bar. do you think it a valid short b cos i cant decide the trend.
  • #5,062
  • Sep 10, 2009 7:49pm Sep 10, 2009 7:49pm
Quoting clockwork71
I would only trade this on a nice pinbar, or appropriate bar formation at this point. The biggest problem you have is the AUD part of the equation. Everyone loves the AUD right now.

However, if you are going to find a great place to trade this short - it will be in this neighborhood.

And for OSU, I don't know, we will see. I will be rooting for them, but think the Trojans are going to be horribly tough. And I hate that team personally.

Chris

I hate USC too, but I cannot stand Ohio St either. Sorry man, Miami Hurricane fan here. But good luck and don't hold it against me!

CW, do you agree with my minor resistance analysis on the pair (a/j), though? I feel like I have not gotten in a few positions of late due to minor (4 hour or daily resistance) levels. I got burned on a few positions because I opened too close to these levels before.

your the man, thanks.
  • #5,063
  • Sep 10, 2009 7:54pm Sep 10, 2009 7:54pm
Quoting drebin
I hate USC too, but I cannot stand Ohio St either. Sorry man, Miami Hurricane fan here. But good luck and don't hold it against me!

CW, do you agree with my minor resistance analysis on the pair (a/j), though? I feel like I have not gotten in a few positions of late due to minor (4 hour or daily resistance) levels. I got burned on a few positions because I opened too close to these levels before.

your the man, thanks.

Typically I will enter on the break of a minor resistance if it's close, that way, I am proving the larger one, and getting past the smaller one if that makes sense.

By the way, wife and I are thinking of moving down to Clearwater in the next year or two. Who in the hell do I root for then?

Chris
  • #5,064
  • Sep 10, 2009 8:03pm Sep 10, 2009 8:03pm
Quoting clockwork71
Typically I will enter on the break of a minor resistance if it's close, that way, I am proving the larger one, and getting past the smaller one if that makes sense.

By the way, wife and I are thinking of moving down to Clearwater in the next year or two. Who in the hell do I root for then?

Chris

I don't know man, just please don't root for Florida St. or Florida!!
  • #5,065
  • Sep 10, 2009 11:50pm Sep 10, 2009 11:50pm
http://i30.tinypic.com/qq5qgh.png

http://i26.tinypic.com/20z73vr.png
  • #5,066
  • Sep 11, 2009 12:59am Sep 11, 2009 12:59am
http://i27.tinypic.com/29ejcqc.png
  • #5,067
  • Sep 11, 2009 11:31am Sep 11, 2009 11:31am
Quoting clockwork71
The beauty of not being there. It's a funny thing, really. Many, if not all, of my best trades are when I am not around. It can either be while at work, or better yet - while sleeping. (Thanks Europe!)

I have been trading the ES lately. For those of you that are about to go searching symbol lists, it's the S&P E-Mini contracts.

I have also been working on apartments and houses at The Ohio State University, getting them ready for the little bastards.....I mean students, to come back for fall classes. I work roughly 12-18 hours a day this time...
I like that example

I too employ the markets to reinvest allotments of my money from other streams of income. So here's to a wise man, whom once said: "The most powerful force in the universe is compound interest."

And if there's one thing I love about being a trader is that it grooms me to be a more savvy investor, which is what it's all about in the bigger picture of things, to being financially independent.

Viva la Mexico! I'm going on vacation for a-couple-weeks. Long drive, relaxed pace, good camping. I'd like to resume posting when I return and look forward to reading up on y'all here.

Adios!
S
  • #5,068
  • Sep 11, 2009 12:07pm Sep 11, 2009 12:07pm
Quoting Soca
Viva la Mexico! I'm going on vacation for a-couple-weeks. Long drive, relaxed pace, good camping. I'd like to resume posting when I return and look forward to reading up on y'all here.
Hi Soca.

Remains to wish a nice vacation and see you back again.

Stefan.
10 x 100 = 100 x 10, stefx, retired scalper.
  • #5,069
  • Sep 11, 2009 12:41pm Sep 11, 2009 12:41pm
Hi, I would like to have comments and suggestions about this possible trade, I was thinking long but the price went down.

It's usdjpy, I think I missed something, maybe the strong downtrend and a possible triangle. Maybe I should have waited for price forming a pattern at 91.5?
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  • #5,070
  • Sep 11, 2009 12:52pm Sep 11, 2009 12:52pm
Quoting clockwork71
Typically I will enter on the break of a minor resistance if it's close, that way, I am proving the larger one, and getting past the smaller one if that makes sense.

By the way, wife and I are thinking of moving down to Clearwater in the next year or two. Who in the hell do I root for then?

Chris

Hey there Chris,

You can root on my Steelers!

Much luck to your OSU this wknd

Talk to you soon...

Clashman
  • #5,071
  • Sep 11, 2009 1:40pm Sep 11, 2009 1:40pm
Quoting Clashman
Hey there Chris,

You can root on my Steelers!

Much luck to your OSU this wknd

Talk to you soon...

Clashman
I actually grew up a Steelers fan, so that's easy!
  • #5,072
  • Sep 11, 2009 1:43pm Sep 11, 2009 1:43pm
Quoting ttteee
Hi, I would like to have comments and suggestions about this possible trade, I was thinking long but the price went down.

It's usdjpy, I think I missed something, maybe the strong downtrend and a possible triangle. Maybe I should have waited for price forming a pattern at 91.5?


You will notice that the second test of support, there was a pinbar there.....but the price never went above it. I would enter ABOVE that bar, hence you would not have been triggered in that instance.

Chris
  • #5,073
  • Sep 11, 2009 8:56pm Sep 11, 2009 8:56pm
Quoting drebin
I hate USC too, but I cannot stand Ohio St either. Sorry man, Miami Hurricane fan here. But good luck and don't hold it against me!

CW, do you agree with my minor resistance analysis on the pair (a/j), though? I feel like I have not gotten in a few positions of late due to minor (4 hour or daily resistance) levels. I got burned on a few positions because I opened too close to these levels before.

your the man, thanks.

BTW, we are exactly 1 year from Miami coming to Columbus so they can see what a real stadium with 105k+ people looks like.. We play down there in '11.
  • #5,074
  • Sep 12, 2009 6:43am Sep 12, 2009 6:43am
Last week I took a GBPAUD long. I took a 250 pip stop loss (below 1.9 resistance/fib expansion), and aim to make a couple of thousands pips profit. Maybe the goals are a bit too high, but at the moment the trade is in profit and I have a good feeling about the longer run perspectives (in the form of price action and MACD convergence on the longer time scales - that is weekly and possibly monthly.)

I had some old 50 euro on an account at a pretty dusky broker - Easy Forex - which I hereby made my "gambling" account. This means that I try to enter trades with my entire balance. It would be cool to see some high triple digit figures before I decide to withdraw the money
The nail that sticks out gets hammered back in
  • #5,075
  • Sep 12, 2009 10:07am Sep 12, 2009 10:07am
Quoting clockwork71
I actually grew up a Steelers fan, so that's easy!
Your avatar dragged up a memory from the past.
The Bird is the Word. Is the title of a song by the Trashmen a group from the Twin Cities ... during the mid 60's. Made the national charts. But a one hit wonder.

The bird bird bird, bird is the word.
The bird bird bird, bird is the word.
The bird bird bird, bird is the word.
The bird bird bird, bird is the word.
Everybody's heard about the bird.
Oh the bird bird bird, bird is the word.

Repeat the above any number of times.
The appeal was the loud crashing beat and the gravel like voice of the singer.
And of course the very meaningful lyrics
  • #5,076
  • Sep 12, 2009 10:17am Sep 12, 2009 10:17am
Quoting Low
http://i30.tinypic.com/qq5qgh.png

http://i26.tinypic.com/20z73vr.png
Hi Low ( I just had to say that)

I thought this looked good too. I didnt like the traffic, so got in at '85' but hasn't gone anywhere as you know. Still in. Did you notice the negative interest rate on this pair?
  • #5,077
  • Sep 12, 2009 11:16am Sep 12, 2009 11:16am
Quoting Lou
Your avatar dragged up a memory from the past.
The Bird is the Word....
You just made me remember one of the funniest episodes ever of Family Guy, where Peter spends the whole episode (more or less) singing that song.

It's hilarious!
  • #5,078
  • Sep 12, 2009 11:53am Sep 12, 2009 11:53am
Quoting o990l6mh
You just made me remember one of the funniest episodes ever of Family Guy, where Peter spends the whole episode (more or less) singing that song.

It's hilarious!
You mean this one.....

Inserted Video


HOLLA
  • #5,079
  • Sep 12, 2009 12:05pm Sep 12, 2009 12:05pm
Quoting Lou
Hi Low ( I just had to say that)

I thought this looked good too. I didnt like the traffic, so got in at '85' but hasn't gone anywhere as you know. Still in. Did you notice the negative interest rate on this pair?
Lou, I'm curious, it's my understanding that when in a trade you pay/get paid the interest rate differential between the two currencies depending on weather you're long or short, is this what you're referring to, or is "negative interest" something altogether different that I don't understand?

The current differential is 75bps, favoring the euro, so I am paying that difference since I'm short, right?
  • #5,080
  • Sep 12, 2009 12:20pm Sep 12, 2009 12:20pm
Quoting Low
Lou, I'm curious, it's my understanding that when in a trade you pay/get paid the interest rate differential between the two currencies depending on weather you're long or short, is this what you're referring to, or is "negative interest" something altogether different that I don't understand?

The current differential is 75bps, favoring the euro, so I am paying that difference since I'm short, right?
Your understanding is correct. A couple of years ago the 'carry trade' was working for yen pairs. The trend was in the direction of positive interest. That meant not only did you make money on the trade you also made positive interest on the pair. So you were making some money even if the trade went sideways or negative.
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