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Rufus

  • #61
  • Feb 10, 2010 9:02pm Feb 10, 2010 9:02pm
Well I am glad I didn't try to catch Tokyo open today. Another bank holiday. I think the BOJ gives new meaning to "bankers hours". More holidays then I can count. Then again if Washington DC shut down every other day we would balance the budget, dollar would be stronger,. collect less taxes, leave our leverage alone, and the planets would align.

Better chance for a snow ball in hell though.

Anyway back in the saddle again. I have noticed that we are dealing with another inside day. I am going to try to stay awake till London open, 1:00 am for me. So far I have not been successful very often holding my eyes open that long. I spent all day working on a stair case and am a bit pooped.

Many pips to all

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #62
  • Feb 10, 2010 9:03pm Feb 10, 2010 9:03pm
Yeah, you as well. Keep an eye out for that eur/gbp
Annoying Precision
  • #63
  • Feb 11, 2010 1:09am Feb 11, 2010 1:09am
With the EU I feal like I am watching paint dry.
I am going to hit the hay. See if there is more movement tomorrow. Getting to tired to stay awake.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #64
  • Feb 11, 2010 1:32am Feb 11, 2010 1:32am
Quoting Rufus
With the EU I feal like I am watching paint dry.
I am going to hit the hay. See if there is more movement tomorrow. Getting to tired to stay awake.

Rufus
Obviously I have not been around that long but Frankfurt used to be alot more active. And easier to trade. Seems like I used to get 20-30 pips up 40-50 pips down in the Frankfurt session all the time. Lately its been more rangy.

I have been catching bigger scalps at the NY open lately. And thats cool - I'd rather get up early than stay up late anyday....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #65
  • Feb 11, 2010 8:10am Feb 11, 2010 8:10am
Quoting The Fool
Obviously I have not been around that long but Frankfurt used to be alot more active. And easier to trade. Seems like I used to get 20-30 pips up 40-50 pips down in the Frankfurt session all the time. Lately its been more rangy.

I have been catching bigger scalps at the NY open lately. And thats cool - I'd rather get up early than stay up late anyday....

These hours suck at times. I plan my days work complete with some rest time, to get back to the charts. Then nothing while I can stay awake. Even the 4h & day entries I have been looking for haven't poped up. I will hit it again tonight. More staircase to work on today.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #66
  • Feb 11, 2010 11:53am Feb 11, 2010 11:53am
That's the game my friend. Remember what's most important, capital preservation. It's easy to get into trades but it is hard to stay out of them sometime!

Quoting Rufus
These hours suck at times. I plan my days work complete with some rest time, to get back to the charts. Then nothing while I can stay awake. Even the 4h & day entries I have been looking for haven't poped up. I will hit it again tonight. More staircase to work on today.

Rufus
A woman drove me to drink, and I forgot to thank her
  • #67
  • Feb 11, 2010 12:39pm Feb 11, 2010 12:39pm
Very Wise words.

Quoting simpleguy
That's the game my friend. Remember what's most important, capital preservation. It's easy to get into trades but it is hard to stay out of them sometime!
Annoying Precision
  • #68
  • Feb 15, 2010 8:48pm Feb 15, 2010 8:48pm
I have just installed the ultimate in trading tools.

Liquor Cabinet on the left. Wine cellar on right. All in a closet under the stairs. Small humidor on top.

I am going to stay up for London open tonight and see what I can collect. So far things are range bound for EU. So we will see how things go with price action.


Have a great Day
Rufus
Attached Image (click to enlarge)
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #69
  • Feb 15, 2010 9:12pm Feb 15, 2010 9:12pm
Eloquent death
Annoying Precision
  • #70
  • Feb 15, 2010 10:32pm Feb 15, 2010 10:32pm
Quoting erikte279
Eloquent death

Sounds like the modern version of "Greatful Dead"

Everyone join in

Truckin' - got my chips cashed in
Keep Truckin - like the doodah man
Together - more or less in line
Just keep Truckin on

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #71
  • Feb 16, 2010 7:44am Feb 16, 2010 7:44am
That is great! I WANT TWO!
A woman drove me to drink, and I forgot to thank her
  • #72
  • Feb 16, 2010 9:27pm Feb 16, 2010 9:27pm
As you can see from my chart EU bounced almost exactly on 61.8 fib. So we will see how far it will go. I have thought that this recent strength in the dollar has been unfounded. I don't think the economic data from USA has been favorable enough to sustain the strength we have seen.

Obama has been giving away money to the toon of $10,000 per taxpayer in this country. This alone is enough to weaken the dollar. So thye days and weeks ahead should prove to be interesting.

So my solution will be to trade the trend up or down. It will be fun.

Rufus
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Click to Enlarge Name: daily chart with fibs.jpg Size: 125 KB
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #73
  • Feb 16, 2010 9:33pm Feb 16, 2010 9:33pm
Become an oppurtunist and look for pairs that ARE trending.
Annoying Precision
  • #74
  • Feb 16, 2010 9:46pm Feb 16, 2010 9:46pm
Quoting erikte279
Become an oppurtunist and look for pairs that ARE trending.

My main focus is EURUSD.

I dabble in USDJPY, but find this one at times will make you crazy.. So I just do Tokyo open with this pair and try to catch BOJ intervention. Lately this has not worked to well for me.

Lately I am starting to watch USDCHF and AUDUSD for long term trades.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #75
  • Feb 16, 2010 10:01pm Feb 16, 2010 10:01pm
After the big moves in recent weeks the markets trying to get some of the "Easy" money back by testing patience/resolve with weak/sporatic PA.
Annoying Precision
  • #76
  • Feb 16, 2010 10:21pm Feb 16, 2010 10:21pm
Quoting erikte279
After the big moves in recent weeks the markets trying to get some of the "Easy" money back by testing patience/resolve with weak/sporatic PA.

I agree with you there.. Lately it has been a bugger to get a signal on my 5 min chart. Head fakes, quick reversals, etc. This is one of the reasons I am looking at some longer term trades with other pairs to augment my style. Kind of a diversification in the forex.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #77
  • Feb 16, 2010 10:46pm Feb 16, 2010 10:46pm
You might consider looking at other markets as well to find the best oppurtunities. This is what Im in the process of doing.


Quoting Rufus
I agree with you there.. Lately it has been a bugger to get a signal on my 5 min chart. Head fakes, quick reversals, etc. This is one of the reasons I am looking at some longer term trades with other pairs to augment my style. Kind of a diversification in the forex.

Rufus
Annoying Precision
  • #78
  • Feb 16, 2010 11:53pm Feb 16, 2010 11:53pm
Quoting erikte279
You might consider looking at other markets as well to find the best oppurtunities. This is what Im in the process of doing.
I am involved with futures. Currently corn, oil, cocoa, coffee, t bills. These also have been tough occasionaly, primarily due to the recent rise in the dollar. Today showed some promise though. Oil and cocoa took a big jump now both in the green for me. Corn way under water due to recent crop report.

What other markets you looking at?

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #79
  • Feb 17, 2010 8:10am Feb 17, 2010 8:10am
Hi all

Got a signal on 4h chart for a short. EU

Entry 1.3714

1st target 3939
2nd 3599
3rd 3433

Trailing stop 115

Trailing stop and 2nd target come from daily ATR. 3rd target weekly ATR.

My risk for this trade is 1/2% of my trading account.

Rufus
Attached Image (click to enlarge)
Click to Enlarge Name: 4h entry ash2-17.gif Size: 16 KB
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #80
  • Feb 17, 2010 1:54pm Feb 17, 2010 1:54pm
The above trade is moving nicely. The first two targets have been hit. The third part has the trailing stop in tow. My next target is right on a support level. The black line represents my next support level. If I am back in front of my computer when the third target is aproached, I will more than likely split the third part in half and have a forth target or let it run with the trailing stop.

Rufus
Attached Image (click to enlarge)
Click to Enlarge Name: daily chart 2-17.gif Size: 19 KB
Illegitimi non carborundum - Noli pati a scelestis opprimi.
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