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Medici trades the London open

  • #261
  • Jan 3, 2010 11:20pm Jan 3, 2010 11:20pm
Short again from 6070.
  • #262
  • Jan 3, 2010 11:36pm Jan 3, 2010 11:36pm
Quoting medici
Short again from 6070.
Out for a few again...
  • #263
  • Jan 3, 2010 11:49pm Jan 3, 2010 11:49pm
Long cable 6083
  • #264
  • Jan 4, 2010 12:03am Jan 4, 2010 12:03am
Quoting okrutny
Long cable 6083
Ditto from 6094.
  • #265
  • Jan 4, 2010 12:08am Jan 4, 2010 12:08am
Quoting medici
Ditto from 6094.
Closed at 6140 - close to 6143 resistance and daily pivot.
  • #266
  • Jan 4, 2010 12:09am Jan 4, 2010 12:09am
I got out to early from that long.. near 50% fibo asian range. 6109. Now short euro 4315
  • #267
  • Jan 4, 2010 12:15am Jan 4, 2010 12:15am
Short cable 6140, asian high.
  • #268
  • Jan 4, 2010 12:18am Jan 4, 2010 12:18am
Short euro 4317
  • #269
  • Jan 4, 2010 12:22am Jan 4, 2010 12:22am
Out of euro, out of cable.
  • #270
  • Jan 4, 2010 12:27am Jan 4, 2010 12:27am
Short euro 4306
  • #271
  • Jan 4, 2010 12:32am Jan 4, 2010 12:32am
Closed euro, long cable 5ema to 30 ema retracement, bullish trend.
  • #272
  • Jan 4, 2010 12:43am Jan 4, 2010 12:43am
Started out cautiously and managed to steal a few pips on the short side. When the break of the 6068 level reversed, the selling was over, and a long in cable saved the daily pay cheque.

On another note, I am less pleased with the development of this tread. Watching price action doesn't lend itself to easy sharing, and posting trades after the fact is less valuable for readers and wasn't my intention with this thread. So I will take a break from this thread and reconsider my contributions to the ff community.
  • #273
  • Edited 12:55am Jan 4, 2010 12:45am | Edited 12:55am
Yes, i agree it's not that useful for readers not following this thread real time with us. But what do you say about real time trades sharing through some kind of real time chat app, like IRC for example? It would be better for you to get in a trade which, for example Islander entered based on his analysis and could improve your daily profits. (and of course anyone could join and learn from you real time). It would be also great if maybe only you would be posting trades here and your analysis..?
  • #274
  • Jan 4, 2010 12:45am Jan 4, 2010 12:45am
GM guys - here's to a great trading year to all of us - and you've started already....

I've had a slow start and so missed the clear 1 min double bottom in cable that came in half way through Frankies Hour.....an easy 50 or so pips before it hit the 50% retrace of the fall on the 15 min chart.....

My pivots are screwed up after the holiday, so I dont have them for guidance. So far I dont have a sell signal and I can only buy IF we get a retrace back towards the 5m 30 ema currently at 6108, although I would consider one from the minor support ~the 125 level.....
Trading Levels with WRBs
  • #275
  • Jan 4, 2010 12:55am Jan 4, 2010 12:55am
Quoting medici
Started out cautiously and managed to steal a few pips on the short side. When the break of the 6068 level reversed, the selling was over, and a long in cable saved the daily pay cheque.

On another note, I am less pleased with the development of this tread. Watching price action doesn't lend itself to easy sharing, and posting trades after the fact is less valuable for readers and wasn't my intention with this thread. So I will take a break from this thread and reconsider my contributions to the ff community.
Whilst I understand your comments and it is VERY difficult to share in real time, I dont agree that makes your posts valueless - LOL if so, then what I've been doing for the past year posting-wise was a waste of time.....

IMO reading your posts opens us up to viewing the markets from a different perspective and its up to the individual to work out and find his own way of using the information.

I hope that you find a way to continue to contribute

Best regards

Islander
Trading Levels with WRBs
  • #276
  • Jan 4, 2010 12:59am Jan 4, 2010 12:59am
Quoting Islander
GM guys - here's to a great trading year to all of us - and you've started already....

I've had a slow start and so missed the clear 1 min double bottom in cable that came in half way through Frankies Hour.....an easy 50 or so pips before it hit the 50% retrace of the fall on the 15 min chart.....

My pivots are screwed up after the holiday, so I dont have them for guidance....
GM Islander, I am wishing you the best for the new trading year! I had a cautious start, as I tend to do after a few days break, but managed to steal my daily 50.

Yes, the pivot indicator that you posted couldn't handle the early close, 2pm EST. Should be back to normal tomorrow though.

The direction is definitely up for the moment, but I'd have a short bias beneath 6280. That is all speculation, though, and doesn't affect the way I trade. I come to think of a quote from www.migfx.co.uk:

"MIGFX trades with a short to ultra-short term outlook. Anything more than that we consider to be unreliable, and highly speculative. Our trading is based upon proprietary flow-based systems combined with discretionary inputs that have proven very successful over time."

Pretty good approach methinks.
  • #277
  • Edited 1:17am Jan 4, 2010 1:16am | Edited 1:17am
Quoting medici
GM Islander, I am wishing you the best for the new trading year! I had a cautious start, as I tend to do after a few days break, but managed to steal my daily 50.

Yes, the pivot indicator that you posted couldn't handle the early close, 2pm EST. Should be back to normal tomorrow though.

The direction is definitely up for the moment, but I'd have a short bias beneath 6280. That is all speculation, though, and doesn't affect the way I trade. I come to think of a quote from www.migfx.co.uk:

"[i]MIGFX trades...
That's a great start to your year....why 6280?.....I have a resistance band from 6180 up to 6250, but my next area would be above 6300.....

Thanks, I'll look into these Nevis based people - its a great Island and brings back some good memories from when I was working over there....
Trading Levels with WRBs
  • #278
  • Jan 4, 2010 1:40am Jan 4, 2010 1:40am
Quoting okrutny
Yes, i agree it's not that useful for readers not following this thread real time with us. But what do you say about real time trades sharing through some kind of real time chat app, like IRC for example? It would be better for you to get in a trade which, for example Islander entered based on his analysis and could improve your daily profits. (and of course anyone could join and learn from you real time). It would be also great if maybe only you would be posting trades here and your analysis..?
Chat apps: Been there, done that, and it leads to lots of noise as people take less care than when posting on a thread.

Better trades from other people's analysis: I don't like basing my trades on other people's thinking. Rather, I'd like to use what other people share to add to my own thinking. In that way, Islander's posts have been very helpful. But I'd like to be accountable for my P/L on my own.

Thinking for oneself: That was the intention with this thread - to help myself and others think in a clearer and more structured way about short-term trading 6-9am. And I will give that one a think. Analysis only could be a possibility, but I'd like things to be interactive on a per session basis as it's been at times. Otherwise, I might just as well write a book/pdf and sell it for $$$.
  • #279
  • Jan 4, 2010 1:52am Jan 4, 2010 1:52am
Quoting Islander
....why 6280?.....I have a resistance band from 6180 up to 6250, but my next area would be above 6300.....
6272 to be precise, is the 38.2% retracement of the early July drop. It served as support for much of July and August, as a pivot Aug-Sept, and then as support from mid-October until the post-NFP drop early December. The same level, 6272, then served as pivot for the range that was later broken by year-end flows.

So I would think that an area around this level is firmly etched on many peoples screens and in order books. Now an attempt to break back in the range seems under way, and if it succeeds the action around 6272-80 should be interesting.

But, again, purely speculation for us who just go with the price action flow around these levels.
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  • #280
  • Jan 4, 2010 1:57am Jan 4, 2010 1:57am
Sir, do you ever place a pending buy/sell at the high/low of the 6am or 7am candle?
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