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  • #163,801
  • Nov 20, 2009 2:46am Nov 20, 2009 2:46am
I'm short. We're again below 1.4900 and daily pivot, 15m up-trend is also broken. We'll see.
  • #163,802
  • Nov 20, 2009 2:46am Nov 20, 2009 2:46am
Quoting Jade Gate
Worth remembering at this juncture that we are approaching the end of year closing out of books, when insitutional traders log profit....
I'm countertrend the GU now, so let's see if some correlations fail here or if GU just free falls like you say it could.
  • #163,803
  • Nov 20, 2009 2:48am Nov 20, 2009 2:48am
looks like i'm long alone!
  • #163,804
  • Nov 20, 2009 2:49am Nov 20, 2009 2:49am
That double option barrier may get saved by 11 pips today, if th fall accelerates
  • #163,805
  • Edited 3:06am Nov 20, 2009 2:55am | Edited 3:06am
Quoting Jade Gate
You cannot trade any one pair in this market in isolation from watching it's driver pairs (the crosses and S&P.)

.
With all due respect Jade, I can tell exactly what is happening with the crosses and equities (risk) by watching one pair. The moves occur simultaneously or close to it. There is no edge to trade watching the correlation play out. I have only one order ticket and one instrument charted. I consider this to be one of the most significant decisions I took in my trading journey and was precisely what turned my trading around. Each to her/his own but my advice to anyone, based on my own experience, is to focus all your attention on one instrument. It is not only possible to trade using just one pair but you might even find you can trade very well this way.
BTC Return This Year: na
  • #163,806
  • Nov 20, 2009 3:02am Nov 20, 2009 3:02am
Good Morning, I was up to late last night. I think we are heading down today in a downward channel. So until I wake up I put in a wish order to Short at 1.493 with targets at 1.488 & 1.484.

This pair remains within a bearish channel and is challenging its resistance.

1.4985 SL
1.488 TP, take half off
1.484 TP, take the rest off

Attached Image (click to enlarge)
Click to Enlarge Name: eur-usd.gif Size: 23 KB
"Risk comes from not knowing what you are doing.“ Warren Buffett
  • #163,807
  • Nov 20, 2009 3:05am Nov 20, 2009 3:05am
GU broken a support. That correlation holding so far. EU taken its time. If they pull the orders below the market now I am screwed on GU and smiling on EU.
  • #163,808
  • Nov 20, 2009 3:09am Nov 20, 2009 3:09am
atm i wait for economic calendar to post announcement results can anyone out there tell me if there is somewhere i can listen to them live on the net?

cheers
NOTHING VENTURED, NOTHING GAINED
  • #163,809
  • Nov 20, 2009 3:15am Nov 20, 2009 3:15am
knock knock
  • #163,810
  • Nov 20, 2009 3:15am Nov 20, 2009 3:15am
Quoting sphinx
looks like i'm long alone!
Kidding?
  • #163,811
  • Nov 20, 2009 3:20am Nov 20, 2009 3:20am
Quoting M.A.C.Doug
With all due respect Jade, I can tell exactly what is happening with the crosses and equities (risk) by watching one pair. The moves occur simultaneously or close to it. There is no edge to trade watching the correlation play out. I have only one order ticket and one instrument charted. I consider this to be one of the most significant decisions I took in my trading journey and was precisely what turned my trading around. Each to his own by my advice to anyone, based on my own experience is to focus all your attention on one instrument. It is not...
I second that! I've tried multiple times in the past to get the edge by using currency correlation, trading eur/usd while watching usd/chf while glancing at gbp/usd while checking oil and gold - it didn't do any good. One explenation is: because I am clinically retarded. Another one: frankly I haven't found out it yet. But all I know it doesn't work for me.

I've noticed that when I focus on only trading eur/usd my profits are larger than when I trade 8 pairs. After a while I have that strange feeling like I'm in some way synchronized with price action (first stage of schizophrenia ?), and many times I just 'know' where it is going (definitely first stage of schizophrenia).
  • #163,812
  • Nov 20, 2009 3:28am Nov 20, 2009 3:28am
Quoting saprasa
Have moved my stop down to 1.665. I am not sure if GU will take out yesterdays low of 1.6604...
Am now lowering my stop to 1.6610....I do not think we see below 1.6520 in this run. So adding a T/P to this at 1.6525.
  • #163,813
  • Nov 20, 2009 3:35am Nov 20, 2009 3:35am
As you gain precision and discipline in trading one pair alone, this skill will naturally extend to other pairs.

I presently have 17 live positions open. EU, GU, AU, NZD (all short) EG, and Eur/Aud (longs). All in very healthy profit. The benefit of trading multiple pairs is that they all move at different paces. When risk aversion kicks in, the Euro tends to be the strongest (i.e. least likely to move with force), while AU tops the dumping list, closely followed (and sometimes exceeded by) GU, then NZD. You can make 50 pips on EU but 150 on GU or 100 on AU for the same PA. This is why diversifying your basket pays huge dividends. But yes, you do need to be able to juggle multiple factors accurately. This is a skill that comes with time and experience.
  • #163,814
  • Nov 20, 2009 3:37am Nov 20, 2009 3:37am
Quoting saprasa
Am now lowering my stop to 1.6610....I do not think we see below 1.6520 in this run. So adding a T/P to this at 1.6525.
waiting for 1.6540 to buy this again. However, it's weaker than EU, so it could go lower.
  • #163,815
  • Nov 20, 2009 3:42am Nov 20, 2009 3:42am
My road map for today:

Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 24 KB
  • #163,816
  • Nov 20, 2009 3:44am Nov 20, 2009 3:44am
Quoting Jade Gate
As you gain precision and discipline in trading one pair alone, this skill will naturally extend to other pairs....
with your experience, if you only had to trade four pairs, which four would you trade and why?
  • #163,817
  • Nov 20, 2009 3:44am Nov 20, 2009 3:44am
Two-yr u.s. Interest swap rates fall below one percent for first time ever.
  • #163,818
  • Nov 20, 2009 3:47am Nov 20, 2009 3:47am
Quoting T.E.Lawrence
My road map for today:
Nice....I'm on the exact same page!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #163,819
  • Nov 20, 2009 3:47am Nov 20, 2009 3:47am
Quoting T.E.Lawrence
My road map for today:

Attachment
hello everyone,

so you're short based on a close under the DP?
  • #163,820
  • Nov 20, 2009 3:54am Nov 20, 2009 3:54am
Quoting realjumper
Nice....I'm on the exact same page!!
im a dummy can you fill me in of what that means please?
NOTHING VENTURED, NOTHING GAINED
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