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Silent Service Method

  • #6,301
  • Dec 16, 2009 4:27am Dec 16, 2009 4:27am
that's a wise decision
regards

Quoting wh1zz0
I think it's time to bail out of my Gold short position. Why lose about +600 pips... Not willing to give anything back. Trend is up. LOL
  • #6,302
  • Dec 16, 2009 7:37am Dec 16, 2009 7:37am
Quoting wh1zz0
I think it's time to bail out of my Gold short position. Why lose about +600 pips... Not willing to give anything back. Trend is up. LOL

Damn good trade wh1zz!
  • #6,303
  • Dec 16, 2009 7:39am Dec 16, 2009 7:39am
Quoting Treefingers
Hi all, been slowly reading this thread the past couple of days & finding it very interesting....
I am not sure exactly when this was posted......but right where the chart is at now (bottom one) is where I would consider at least taking some profit. Or all......just because it's an obvious resistance area, and it's certainly a counter trend trade.....

Chris
  • #6,304
  • Dec 16, 2009 7:45am Dec 16, 2009 7:45am
So the banks that IB deals with - they don't trade the NZD between 1 and 5 pm EST. (I have no idea why)

With a fed announcement (everyone wants to hear that phrase "extended period" removed from the quantitative easing part) at 2:15 pm......I didn't feel comfortable leaving this open. If I were trading in a MM with a MT4 platform, I wouldn't have felt this necessary.

Also, it keeps in line with taking profits this time of year. Since I will not be here most of the day - I figured caution was the order of the day if nothing else.

I should be back about an hour after the announcement, and will be able to access the move at that point. I still think ultimately this pair goes down, and hard.....but we could get a knee jerk reaction today.

Oh well....screen shot below:
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  • #6,305
  • Dec 16, 2009 7:47am Dec 16, 2009 7:47am
Quoting clockwork71
So the banks that IB deals with - they don't trade the NZD between 1 and 5 pm EST. (I have no idea why)

With a fed announcement (everyone wants to hear that phrase "extended period" removed from the quantitative easing part) at 2:15 pm......I didn't feel comfortable leaving this open. If I were trading in a MM with a MT4 platform, I wouldn't have felt this necessary.

Also, it keeps in line with taking profits this time of year. Since I will not be here most of the day - I figured caution was the order of the day if nothing else.

I should...
Thanks.
  • #6,306
  • Dec 16, 2009 9:50am Dec 16, 2009 9:50am
simple break of the TL on gold. i am long with a small position.
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meine augen sind die sterne
  • #6,307
  • Dec 16, 2009 10:00am Dec 16, 2009 10:00am
Quoting aserbfx
simple break of the TL on gold. i am long with a small position.
I actually put on a similar position (buy stop executed over night) but took it off ahead of the Fed meeting / CPI data from today. I'm actually going to be relatively flat ahead of that. With it being close to the holidays and the potential for volatility from the Fed meeting, the sidelines look good for me. (that's not a recommendation, just saying that's what I did -- it'll probably march up to $1200/oz!)

But depending on your data-feed, gold did form a pin bar yesterday and broke today...so there ya go!
  • #6,308
  • Dec 16, 2009 10:04am Dec 16, 2009 10:04am
This guy over here posts some pretty cool charts now and then. This one here reminds me of my "fake-out or break out" post from Monday.

Here is his annotated chart of the recent Equity Range:
http://3.bp.blogspot.com/_r47sOI__h_...%26P%2B500.jpg
Source: Singer's Market ( http://singerprofitcharts.blogspot.com/ )
http://3.bp.blogspot.com/_r47sOI__h_...+S%26P+500.jpg
  • #6,309
  • Dec 16, 2009 10:26am Dec 16, 2009 10:26am
Ive taken some small positions on gold as well all stops at 1100
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  • #6,310
  • Dec 16, 2009 1:55pm Dec 16, 2009 1:55pm
I got my fingers crossed that the gbpusd will give us something worth shorting by the end of the day.

As Chris said.......Why won't it die?
  • #6,311
  • Dec 16, 2009 1:57pm Dec 16, 2009 1:57pm
And eurchf is turning down towards 1.50.
  • #6,312
  • Dec 16, 2009 2:04pm Dec 16, 2009 2:04pm
Quoting Low
I got my fingers crossed that the gbpusd will give us something worth shorting by the end of the day.

As Chris said.......Why won't it die?
Or maybe GBPCHF, let's see in a few hours.
  • #6,313
  • Dec 16, 2009 2:50pm Dec 16, 2009 2:50pm
Quoting clockwork71
Damn good trade wh1zz!
Thanks clock!

After being in a profit of about 110 pips or so I got stopped out of my GU long trade at BE as I was not online to manage it. Thanks to J16 Manager... Sigh.
  • #6,314
  • Dec 16, 2009 3:06pm Dec 16, 2009 3:06pm
Quoting InfinitySL
This guy over here posts some pretty cool charts now and then....

Cool, I did the chart. Thanks for posting it.

Chris
  • #6,315
  • Dec 16, 2009 3:07pm Dec 16, 2009 3:07pm
Quoting Low
And eurchf is turning down towards 1.50.

I know. I am soooooo on it when we get close!

Chris
  • #6,316
  • Dec 16, 2009 3:15pm Dec 16, 2009 3:15pm
I wasn't around today for trades today, (construction business needed my attention.)......I shorted AIG at the open, but that's something i have been doing every few days for a few weeks now....

Below is a gold futures chart. (Feb 10) I am looking at it for a longer term trade, and I think that the pinbar yesterday was a decent set up, but I think we are still going down a bit. The bar yesterday was in traffic a bit, and not at an extreme location in price......making it a reasonable entry, but not a "Grade A" one. Maybe a Grade "B+"......certainly good enough, but maybe not a long term trade.

I suspect early next year when the volume picks up, I will get my chance. I will let you guys all know when I jump on this.

Chris
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  • #6,317
  • Dec 16, 2009 3:22pm Dec 16, 2009 3:22pm
Quoting clockwork71
I wasn't around today for trades today, (construction business needed my attention.)......I shorted AIG at the open, but that's something i have been doing every few days for a few weeks now....

Below is a gold futures chart. (Feb 10) I am looking at it for a longer term trade, and I think that the pinbar yesterday was a decent set up, but I think we are still going down a bit. The bar yesterday was in traffic a bit, and not at an extreme location in price......making it a reasonable entry, but not a "Grade A" one. Maybe a Grade "B+"......certainly...
Spot on IMHO
  • #6,318
  • Dec 16, 2009 8:50pm Dec 16, 2009 8:50pm
massive break of 1.45 level on Euro, if you were watching you would have seen stops being taken out as it blipped down 15 or so ticks... things seem bullish for USD, however with Oil, Gold look bullish.

Very interesting to see S&P still in that range, despite other world equities shitting off. Personally looking for AUD to break 89 atm.
Grabbing the bull by the horns!
  • #6,319
  • Dec 16, 2009 9:25pm Dec 16, 2009 9:25pm
Quoting whitegoodman
massive break of 1.45 level on Euro, if you were watching you would have seen stops being taken out as it blipped down 15 or so ticks... things seem bullish for USD, however with Oil, Gold look bullish.

Very interesting to see S&P still in that range, despite other world equities shitting off. Personally looking for AUD to break 89 atm.
It looks like the Euro Central Bank is spooking the market with their lack of due diligence on the assets they've been taking in for loans...

http://www.bloomberg.com/apps/news?p...d=aCBYRPTsvC9k

"Under the terms of the collateral consultation, officials want banks to provide information about individual loans such as the value of the property backing a mortgage, details on cash flow and whether the borrower is in arrears, the people said. "

Now you want to know what the value of the collateral is that you're holding?!! I wanna be a banker when I grow up! The ECB has as much toxic waste on it's balance sheet as the US Fed. All these central bankers are the smartest guys in the room??
  • #6,320
  • Dec 16, 2009 10:28pm Dec 16, 2009 10:28pm
Hi
always wondering whats the best way to manage a trade like this one. i have taken 1/3 of my profit at 1.4550 , i have a trailing stop of 100 pip and i let the trade play itself out , now it is + 436 pips
regards
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