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Silent Service Method

  • #6,421
  • Dec 23, 2009 2:49am Dec 23, 2009 2:49am
Quoting clockwork71
I just entered my short NZD/USD position at 1.6980. I did this basedx upon the chart below, and the fact that the NZD economy grew less than expected. (just announced) So now I have a "fundie" reason as well. Hooray. I am thinking with the duel pins on the monthly....this could be the start of a big move. I certainly am playing it as such.
Hi,

I entered my short at 1.7032, so far doing ok with +44 pips...
-happyTrading-myFx.
  • #6,422
  • Dec 23, 2009 6:15am Dec 23, 2009 6:15am
Those of you who have gotten into NZD/USD - where have you elected to put your stops, and on which timeframe?
  • #6,423
  • Dec 23, 2009 6:24am Dec 23, 2009 6:24am
Quoting MattW
Those of you who have gotten into NZD/USD - where have you elected to put your stops, and on which timeframe?

.7350, based on daily.
  • #6,424
  • Dec 23, 2009 9:13am Dec 23, 2009 9:13am
hourly pinbar on NZD/USD just failed, it wants to go higher
  • #6,425
  • Dec 23, 2009 9:24am Dec 23, 2009 9:24am
Quoting clockwork71
.7350, based on daily.
Ditto..
Many share my views with me. But I don't share them with them...
  • #6,426
  • Dec 23, 2009 9:32am Dec 23, 2009 9:32am
Did anyone buy eurjpy off the pip the other day?
  • #6,427
  • Dec 23, 2009 10:16am Dec 23, 2009 10:16am
Looks like GBPAUD is on the move....lets hope it sticks to the saying.............TREND MY WEALTHY FRIEND

Quoting Danku
Closed my EURJPY long for some good +172 Pips.....i did not like the movement around the 131 Area and decided to step out aside..............

GBPAUD short still open......though and i am happy 1.8300 Resistance is proving to be Major Resistance on the Daily.

Just looking for to 25th with family, i got two goats to slaughter and some 6 chickens........lovely beautiful fruit cake...and not to mention the BOOZE.....................YOU ALL ARE WELCOME..................
  • #6,428
  • Dec 23, 2009 10:58am Dec 23, 2009 10:58am
Quoting clockwork71
.7350, based on daily.
Well, I must be doing something right then as I placed my stop at the same level, before reading your post

Christmas would be boring without an open position, right?
  • #6,429
  • Dec 23, 2009 11:04am Dec 23, 2009 11:04am
Quoting HouseTrader
Ditto..
I just had to say: I absolutely love your signature! Special Olympics
  • #6,430
  • Dec 23, 2009 11:44am Dec 23, 2009 11:44am
Quoting aSandman
A good trade is a good trade. For me I had to define what a good trade was. On that note I think any trade I do where I follow my rules is a good trade. Period. The outcome of one trade is meaningless.

Jason
aSandman and Kulu,

Thanks for the suggestions earlier. Obviously I'm still trying to find "my way". I do like this quote however.
  • #6,431
  • Dec 23, 2009 2:26pm Dec 23, 2009 2:26pm
Not sure I saw this as I was catching up on the thread...

Did anyone post any entry signal on GBP/CAD? Looks like it broke out to the downside and might have produced a weekly Pinbar last week (albeit a very small one). Shame I was on vacation and missed this one.

http://i437.photobucket.com/albums/q...kly-122309.gif
  • #6,432
  • Dec 23, 2009 4:07pm Dec 23, 2009 4:07pm
Quoting InfinitySL
Not sure I saw this as I was catching up on the thread...

Did anyone post any entry signal on GBP/CAD? Looks like it broke out to the downside and might have produced a weekly Pinbar last week (albeit a very small one). Shame I was on vacation and missed this one.

http://i437.photobucket.com/albums/q...kly-122309.gif

I know somewhere someone mentioned it. I cannot remember if it was in the public or private thread though.......

Chris
  • #6,433
  • Dec 23, 2009 5:16pm Dec 23, 2009 5:16pm
Where has Stefx been? Wonder how his Aud/Cad closed out... I had drawn a minor resistance level around .96 - once that broke it was a one-way train!

http://i437.photobucket.com/albums/q...aily122309.gif
  • #6,434
  • Dec 23, 2009 7:45pm Dec 23, 2009 7:45pm
I just read the last several pages here and glad I did. I normally do not watch the Kiwi. I try to limit the pairs I watch because I used to watch over a dozen and that was just too much. Anyway, definitely looks like a nice shorting opportunity, but I think I will wait until this bullish tweezers on the daily resolves. Maybe it will come back to the downward trendline and give an entry signal, or just wait for another entry signal on the daily or 4-hr since it is at some pretty solid resistance right now.

Regarding exits, I think they are more important than entries and certainly where the whole fear vs. greed thing comes in. They are also something I struggle with. A while back I posted about Nicolas Darvas's box theory from his book "How I Made $2,000,000 in the Stock Market." He would always place a stop just underneath the current box, which he would ascertain only after price had entered the current box, based on where price stopped on the next reaction after entering the new box. I have been applying this to my stock trading and so far, so good, though the number of trades is too limited to tell much right now. In any event, its a plan, and having that part of the trade planned out in a logical manner--any logical manner--is at least half the battle imho.

I do not normally post trades because, honestly, every time I have told anyone about a good trade or trades I'd made or had going, things would seems to turn on me. I also feel like if I am going to post winning trades then I should also post my losers, otherwise I think I just look like some blowhard, and I have nothing much to be bragging about as far as trading goes, unless demo counts. But anyway, here is my UJ trade. It is at a strong resistance point. My stop is at b/e still, and I can easily see being stopped out yet.
Attached Image (click to enlarge)
Click to Enlarge Name: uj.daily.122309.gif Size: 29 KB
  • #6,435
  • Dec 23, 2009 9:16pm Dec 23, 2009 9:16pm
Quoting InfinitySL
Where has Stefx been? Wonder how his Aud/Cad closed out... I had drawn a minor resistance level around .96 - once that broke it was a one-way train!

http://i437.photobucket.com/albums/q...aily122309.gif

Good question, our friend Stefan has been quiet lately.

Chris
  • #6,436
  • Dec 23, 2009 10:27pm Dec 23, 2009 10:27pm
The bullish hammer on UCAD from October has still not been validated or invalidated. Looking at the charts, it seems the Loony is beating up on the Aussie and the Kiwi. Further, it seems the Aussie is falling to the Kiwi recently. So would it not make sense, at least for right now, to stay away from UCAD altogether, and if one is going to trade the Loony against either the Kiwi or the Aussie, would not the Aussie be a better bet given the strength of the Kiwi relative to the Aussie? Also, Canadian banks are some of the strongest, if not the strongest in the world during this panic; does this explain, at least in part, why the Loony is not experiencing the same reversal vs. the USD as the other commodity currencies, e.g., the Aussie and Kiwi?
  • #6,437
  • Dec 24, 2009 12:00am Dec 24, 2009 12:00am
Quoting johnnyonspot
The bullish hammer on UCAD from October has still not been validated or invalidated....

It could, but remember one important thing about the USD/CAD pair:

They are the USA's biggest trading partner. So sometimes, they trade like any other pair. Other times, if there is bad news in the US....the CAD gets spanked because they depend on exporting to us.

The best answer: trade the charts as they show themselves. The USD/CAD really is in it's own little world.

Chris
  • #6,438
  • Dec 24, 2009 5:24am Dec 24, 2009 5:24am
To All The Silent Service Method Members,

Wishing you all a Merry Merry Christmas & Happiest New Year All.............

See you next year but i will be popping in once in a while.

Again Chris, you the man and thanks for this Wonderful Thread and May God Bless you and your Family......You really do not know how many people you have touched helping me improve my trading.
  • #6,439
  • Dec 24, 2009 5:40am Dec 24, 2009 5:40am
Weekly pin off .69-.7 maybe?
Hmmm...

EurJpy still goin strong, pity i closed once it hit 131.5 yesterday

usdchf as expected bounced off 1.05 but didnt really give a signal

Possibility of a not so nice pin on eurusd too
  • #6,440
  • Dec 24, 2009 7:25am Dec 24, 2009 7:25am
Quoting Danku
To All The Silent Service Method Members,

Wishing you all a Merry Merry Christmas & Happiest New Year All.............

See you next year but i will be popping in once in a while.

Again Chris, you the man and thanks for this Wonderful Thread and May God Bless you and your Family......You really do not know how many people you have touched helping me improve my trading.
Thank you Danku.....

Merry Christmas to you as well buddy!
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