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Silent Service Method

  • #7,061
  • Feb 5, 2010 2:10am Feb 5, 2010 2:10am
now it is 3.45 , still a small step to 3.5
well done mate

samer
Quoting egkid
Thanks Samer for mention that I forgotten, Click Rating then excellent
  • #7,062
  • Feb 5, 2010 2:33am Feb 5, 2010 2:33am
For those still in nzd/usd what kind of stop would you have over NFP, or would you just do your usual methods & if you get stopped look for further sell PA?

I guess its relates to any pair for NFP, but i know there are quite a few kiwi shorters here.
Learning to be rigid in my rules & flexible in my expectations
  • #7,063
  • Feb 5, 2010 3:04am Feb 5, 2010 3:04am
it is done
see u in commercial forum mate
samer
Quoting samer960
now it is 3.45 , still a small step to 3.5
well done mate

samer
  • #7,064
  • Edited 3:21am Feb 5, 2010 3:07am | Edited 3:21am
Quoting Treefingers
For those still in nzd/usd what kind of stop would you have over NFP, or would you just do your usual methods & if you get stopped look for further sell PA?

I guess its relates to any pair for NFP, but i know there are quite a few kiwi shorters here.

Well for me, since I have two entries on NZD/USD (i.e 1st EP @ 1.7040 & second EP @ 1.7450), I would say that I am not scared one bit about what ever NFP comes out at. After all this is why we trade higher time frames - to be safe from noise. I'm always using fundies to look at the bigger picture long term. So I would say the right answer to that question would depend on where you got in, your risk tolerance & your plan.

However, looking at the next PPZ levels, it's obvious (having closed below the 1.70 level) we have 1.6750 level + 38.2 fib level, before 1.63 + 50 fib level & then 1.6 + 61.8 fib level as TP targets. So if you entered on the break of the October or November pin (rather than on a pull back which is the way I love to play mine), I'd say a more conservative stop loss would be just above the 1.7 level around say 1.7150. Then watch price action following NFP and of course ignore the short term reaction.

Just my own opinion.

Cheers.
  • #7,065
  • Edited 4:24am Feb 5, 2010 3:11am | Edited 4:24am
Quoting samer960
it is done
see u in commercial forum mate
samer
Quoting egkid
I'm also love this thread, It's Professional one
Thanks to everyone here especially Chris
This thread is one of the best at FF
  • #7,066
  • Feb 5, 2010 6:05am Feb 5, 2010 6:05am
Quoting clockwork71
I will give you two guesses at to what just happened.
haha I saw that today at work and over the squwak the guys goes "yeh the SNB have said they have not stepped in and will let everyone know when they do" or something along those lines... haha yeah right, the SNB will elt all traders know so they can front run and make them get a shitter price..

funnily enough at the same level as their first step in.
Grabbing the bull by the horns!
  • #7,067
  • Feb 5, 2010 6:14am Feb 5, 2010 6:14am
Now I know many of you dont look to trade NFP for obvious reasons, but heres a little scenario im palying out trading this tonite...

Im looking at Eur and Aud and they both seem to be at crucial areas...

Now if we get a better than expected number im assuming a bounce of these areas then possibly to fade it a few mins after the number (provides a good opportunity to position short)... If the number is bad, considering how sold off we are I cant expect for it to go down much further..

Note if the number is really really good it may set a tone for a few weeks to the upside, however as of now any long moves would be considered counter trend and stops would naturally be tighter. Kinda interesting atm...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aud.png Size: 71 KB
Click to Enlarge Name: eu.png Size: 83 KB
Grabbing the bull by the horns!
  • #7,068
  • Feb 5, 2010 7:55am Feb 5, 2010 7:55am
love it when a plan comes together....

Long EURUSD, AUDUSD and GBPJPY all at key areas of support...

short USDCAD at a point of resistance

Net 200 or so pips so far, ill porbs take half off soon and let some run go NFP
Grabbing the bull by the horns!
  • #7,069
  • Feb 5, 2010 8:13am Feb 5, 2010 8:13am
good for u , i dont dare to trade news
cheers
samer
  • #7,070
  • Feb 5, 2010 8:15am Feb 5, 2010 8:15am
Quoting wh1zz0
Well for me, since I have two entries on NZD/USD (i.e 1st EP @ 1.7040 & second EP @ 1.7450), I would say that I am not scared one bit about what ever NFP comes out at. After all this is why we trade higher time frames - to be safe from noise. I'm always using fundies to look at the bigger picture long term. So I would say the right answer to that question would depend on where you got in, your risk tolerance & your plan.

However, looking at the next PPZ levels, it's obvious (having closed below the 1.70 level) we have 1.6750 level + 38.2 fib...
NFP used to be a big event, lately it is a non event. I like the higher timeframes because it filters the noise but this used to be the one event that could stop you.
By the way, I'm still seeing the aud/nzd as in play.


This is the best thread, reason being is because Chris is a normal guy and doesn't act like a superstar.
Thanks Chris.
  • #7,071
  • Feb 5, 2010 8:19am Feb 5, 2010 8:19am
Quoting calderone
NFP used to be a big event, lately it is a non event. I like the higher timeframes because it filters the noise but this used to be the one event that could stop you.
By the way, I'm still seeing the aud/nzd as in play.


This is the best thread, reason being is because Chris is a normal guy and doesn't act like a superstar.
Thanks Chris.

No...thanks to all of you. If it weren't for you guys, well.....I'd be talking to myself. Again.
  • #7,072
  • Feb 5, 2010 8:20am Feb 5, 2010 8:20am
Quoting clockwork71
No...thanks to all of you. If it weren't for you guys, well.....I'd be talking to myself. Again.
At least you'd be in good company!
  • #7,073
  • Feb 5, 2010 8:50am Feb 5, 2010 8:50am
Just thought I would let you know I have the votes to get into the "Commercial Section" and have sent a message to Twee.....so I would believe this thread should be moved in the next few days.....
  • #7,074
  • Feb 5, 2010 8:56am Feb 5, 2010 8:56am
Quoting clockwork71
Just thought I would let you know I have the votes to get into the "Commercial Section" and have sent a message to Twee.....so I would believe this thread should be moved in the next few days.....

  • #7,075
  • Feb 5, 2010 9:14am Feb 5, 2010 9:14am
Quoting calderone
This is the best thread, reason being is because Chris is a normal guy and doesn't act like a superstar.
Thanks Chris.
Ditto.
  • #7,076
  • Feb 5, 2010 9:21am Feb 5, 2010 9:21am
Quoting clockwork71
No...thanks to all of you. If it weren't for you guys, well.....I'd be talking to myself. Again.
Didn't you recently get a dog? They always listen.LOL
  • #7,077
  • Feb 5, 2010 10:49am Feb 5, 2010 10:49am
Quoting Low
Didn't you recently get a dog? They always listen.LOL

Are you kidding me??? The dog listens about as well as my kids. lol

Besides, Odie has no concept of money management, so training the dog to trade is out of my power I am afraid.
  • #7,078
  • Feb 5, 2010 10:59am Feb 5, 2010 10:59am
Quoting egkid
Market start to move in Panic way
Chris Look to DownJ , S&P See how much it drooped
Real panic in my view, Anyone also think so?
  • #7,079
  • Feb 5, 2010 11:29am Feb 5, 2010 11:29am
Quoting egkid
Real panic in my view, Anyone also think so?

Continuation of the last drop. Weak Eu countries, maybe the heads coming out of the sand. Improved US data.....who knows????
  • #7,080
  • Feb 5, 2010 11:30am Feb 5, 2010 11:30am
Quoting egkid
Real panic in my view, Anyone also think so?
I think it's possible. Let's put it this way: The markets are more likely to drop on bad news, than rise on good news. Fear is a strong emotion, and it's starting to take hold. We have been hearing for some time now about the potential problems in Europe, and now they are starting to come to the surface.
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