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  • #153,361
  • Oct 17, 2009 10:56pm Oct 17, 2009 10:56pm
Quoting Chicky
Thanks Larseg. I will read this in detail, just galanced through it.

I spent about three or four months on this triangulation thing. It sometimes gives profit, but very very very little. On some occassions one has to wait for days to see profit. The issue is the base of certain currencies. These relationships keep on changing directions. If demand for gold increases, it may affect AUD and NZD while having no effect on USD, because gold prices may also increase not because of USD devaluing but actual demand for gold rises. Similarly what OPEC does...
Yes harder for us smaller guys as we are trading our own money
I have tried the triangulation method before but left it...

Try with the carry trade... been long AUD/USD for several months here a bit late for that trade now... but still many options out there....
  • #153,362
  • Oct 17, 2009 11:44pm Oct 17, 2009 11:44pm
Quoting Chicky
Thanks Larseg. I will read this in detail, just galanced through it.

I spent about three or four months on this triangulation thing. It sometimes gives profit, but very very very little. On some occassions one has to wait for days to see profit. The issue is the base of certain currencies. These relationships keep on changing directions. If demand for gold increases, it may affect AUD and NZD while having no effect on USD, because gold prices may also increase not because of USD devaluing but actual demand for gold rises. Similarly what OPEC does...
Here, http://www.thebull.com.au/articles_detail.php?id=357

Had a hard time finding it on the actual page but remembered I had posted it on FF before and voila!

I adopted the way he trades (I tought)... Not doing it anymore
  • #153,363
  • Oct 18, 2009 12:18am Oct 18, 2009 12:18am
Quoting Larseg
Here, http://www.thebull.com.au/articles_detail.php?id=357

Had a hard time finding it on the actual page but remembered I had posted it on FF before and voila!

I adopted the way he trades (I tought)... Not doing it anymore
He is right, but not exiting temporarily significantly diminshes one's trading capacity (margin). Jacko's anti hedge tactic preserves the capacity with an option to re-enter plus avail any other opportunities that show up during this time.

For example how many times we keep on carrying losing position which oscillates at a different price level other than the one where we entered but we cannot take advantage of those movements only because we did not exit earlier to re-enter at a different level?

I have seen my account showing 15% drawdown, then this figure shuttling between 5% and 10% many times. Had I exited at 2% or 3% loss, could have taken three or four profitable trades when it got pegged at a different price level. But wasted those opportunities becuase my capital remained tied up in one deal.

Thanks for the link Larseg.
The Thief of Wall Street
  • #153,364
  • Oct 18, 2009 1:44am Oct 18, 2009 1:44am
Quoting realjumper
Hi,

Well like I say, I could be wrong, and now that I have put this online I probably will be!

RJ

the curse of the thread-o-meter indicator lol
  • #153,365
  • Oct 18, 2009 2:28am Oct 18, 2009 2:28am
Quoting Chicky
All the action in real time. It was like stop hunting spike resulting in margin call.
hahaahah double combo..

batman works hard!

btw i am a rather excited for monday's opening. i wonder will it be a rush to the top again.. or more crazy profit taking
  • #153,366
  • Oct 18, 2009 2:58am Oct 18, 2009 2:58am
Morning , just sitting idle & checking if any ugly bat or a beautifull butterfly ( I like any creature though ) coming ?
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #153,367
  • Oct 18, 2009 3:59am Oct 18, 2009 3:59am
Btw from the FF calender Monday, Federal Reserve Chairman Ben Bernanke is due to speak about Asia and the global financial crisis at the Federal Reserve Bank of San Francisco Asia Economic Policy Conference, in Santa Barbara. Audience questions expected.

Guess we have to be careful of any spikes.
  • #153,368
  • Oct 18, 2009 4:18am Oct 18, 2009 4:18am
Quoting trading801
Btw from the FF calender Monday, Federal Reserve Chairman Ben Bernanke is due to speak about Asia and the global financial crisis at the Federal Reserve Bank of San Francisco Asia Economic Policy Conference, in Santa Barbara. Audience questions expected.

Guess we have to be careful of any spikes.
The questions will be pre-approved bullshit just like it was for his PBS interview.
Not all sins are created equal
  • #153,369
  • Oct 18, 2009 4:41am Oct 18, 2009 4:41am
Quoting trading801
hahaahah double combo..

batman works hard!

btw i am a rather excited for monday's opening. i wonder will it be a rush to the top again.. or more crazy profit taking
I am looking beyond 1.5000 but holding my hat very tight. In case profit taking storm takes it away, will be delivered to me drycleaned when it starts ranging. I think USD has only two directions to take - Down or Sideways.

Buy the way, I am not holding any EUR/USD position, backing AUD against USD.
The Thief of Wall Street
  • #153,370
  • Oct 18, 2009 4:46am Oct 18, 2009 4:46am
Hi guys,

major hangover here but i can see only bullish action for next week.
  • #153,371
  • Oct 18, 2009 4:48am Oct 18, 2009 4:48am
Quoting viljam
Hi guys,

major hangover here but i can see only bullish action for next week.
Close your eyes
The Thief of Wall Street
  • #153,372
  • Oct 18, 2009 4:51am Oct 18, 2009 4:51am
Quoting Chicky
Close your eyes
noo that can't be done, on the way to bathroom now
  • #153,373
  • Oct 18, 2009 5:00am Oct 18, 2009 5:00am
Quoting Chicky
I am looking beyond 1.5000 but holding my hat very tight. In case profit taking storm takes it away, will be delivered to me drycleaned when it starts ranging. I think USD has only two directions to take - Down or Sideways.

Buy the way, I am not holding any EUR/USD position, backing AUD against USD.

yeah u mentioned that the koalas are pro for a stronger AUD ya?
  • #153,374
  • Oct 18, 2009 5:08am Oct 18, 2009 5:08am
Is anyone here trading with goals?
As in "If I reach 1000 bucks, I will stop trading for this week" ?

It's an interesting approach and I think I am one of the "over traders" even though I am using backtested results with set & forget....

Meaning I won't be over traded and put on horrible trades...

Would be good if anyone could come with some "better ideas" or reason for not to do this
  • #153,375
  • Oct 18, 2009 5:12am Oct 18, 2009 5:12am
definitely there are many.. i always see folks " woah! i hit 5% for the week.. cya "
  • #153,376
  • Oct 18, 2009 5:25am Oct 18, 2009 5:25am
Quoting Larseg
Is anyone here trading with goals?
As in "If I reach 1000 bucks, I will stop trading for this week" ?

It's an interesting approach and I think I am one of the "over traders" even though I am using backtested results with set & forget....

Meaning I won't be over traded and put on horrible trades...

Would be good if anyone could come with some "better ideas" or reason for not to do this
I am thinking of becoming a goal trader. For me it seems esy to make money on forex but extremely difficult to hold it. I guess my greed/fear ratio is unbalanced with grred much higher and a money goal should be good limit to it should I be able to stick to it
Riding the Dragon....
  • #153,377
  • Oct 18, 2009 5:44am Oct 18, 2009 5:44am
Quoting Larseg
Is anyone here trading with goals?
As in "If I reach 1000 bucks, I will stop trading for this week" ?

It's an interesting approach and I think I am one of the "over traders" even though I am using backtested results with set & forget....

Meaning I won't be over traded and put on horrible trades...

Would be good if anyone could come with some "better ideas" or reason for not to do this


Trading in my opinion is a personal thing, one size doesn't fit all. Trying to set a goal---5%---$100----$10,000---or what ever is not conducive to actually working a planned trade strategy.

Given that most people around here seem to work the lower time frames, I'd say setting a point to quit is a good idea. I don't look in on this thread as much as I used to so I'm mostly guessing at the time frame thing (it used to be that way).

I don't use goals in terms of money or %, I set my goals more along the lines of........ can I control myself long enough to get the entry I want? If I spend a week without entering [out of fear of missing a trade] or exiting [out of fear of lost profit] then I consider it a good week.

That's just the way I'm skinning my cat. It's not a recommendation that you skin yours that way.
  • #153,378
  • Oct 18, 2009 5:53am Oct 18, 2009 5:53am
chicky,

could i ask why you would expect to see 1.5 on eurus? on the weekly charts, i think price is currently at a resistance level, on the daily its on a bearish double top..

what am i not seeing?

thks

Quoting Chicky
I am looking beyond 1.5000 but holding my hat very tight. In case profit taking storm takes it away, will be delivered to me drycleaned when it starts ranging. I think USD has only two directions to take - Down or Sideways.

Buy the way, I am not holding any EUR/USD position, backing AUD against USD.
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  • #153,379
  • Oct 18, 2009 7:35am Oct 18, 2009 7:35am
A lot of you are waiting that the EUR/USD is going down, because you want it to go down! But what is if we see 1.50 or even 1.60 again? I learned to trade what I see on my chart and not expecting a move down which was predicted from many traders weeks ago. If you follow some forums and signal providers you can here - "now we go down, it's time to take you short position". Ups, after 1-2 weeks the market had a strong bullish trend!
Trade what you see. I like to trade the 1 hour trend and to have a look on the 5 min chart and if it is bullish I buy, if it is bearish I sell, I trade what I see. And when the day comes to go short long term I try to follow, but not today!
  • #153,380
  • Oct 18, 2009 7:46am Oct 18, 2009 7:46am
China gets tough over America’s ballooning debt

Americans should be hoping that the Chinese will be kinder to us than we were to the Brits after the second world war. Readers of a certain age will remember, and the younger ones who study history will have learnt, what creditor Uncle Sam did to debtor John Bull when Britain sent John Maynard Keynes to Washington to negotiate a loan from us...
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