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Better-than-the-wormhole 555 replies

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The WoRmHoLe

  • #4,781
  • Feb 16, 2010 2:28pm Feb 16, 2010 2:28pm
I'm curious Azim, if I can ask how you exit the trades?

I'm also overall bullish on the dollar and the Dx is having an uptrend trendline that looks pretty strong.
"Hate the sin, love the sinner." - Gandhi
  • #4,782
  • Feb 16, 2010 2:35pm Feb 16, 2010 2:35pm
Quoting wormboy
Hi martin, yes I do see more upside on cable. Today we just brokeout of the range & dx is seeing lower levels. I wouldn't want to dictate how you trade but I do think it's buy the dips for now tbh.
I work with multiple timeframes. Generally when I position myself for large swing trades it's the daily/h12, theh4/h6 & the h1.
There are times when I scalp from the m5 however, the trade do run up to over 100 pip gains. Stop losses, generally I place them from previous swing high/low or slightly below or above support/resistance levels. I have no particular...
Wormie, I am completely in agreement with you here. I closed all my long trades here just shy of the 1.5800 because that is a resistance line but I do see more upside to the cable here.
We have a lot of the same views, we both trade on multiple tf but trade just a little differently. I differ from you in the sense that you keep the trades and move the stops and add more positions, where I close the trades and enter back in on the retracements per the fibs as you may have read in my thread.

Bottom line..I agree, still buying the dips and closing out @ the targets, especially now that we broke out of the range.
  • #4,783
  • Feb 16, 2010 2:38pm Feb 16, 2010 2:38pm
Quoting TheGabriel
I'm curious Azim, if I can ask how you exit the trades?

I'm also overall bullish on the dollar and the Dx is having an uptrend trendline that looks pretty strong.
Not to speak for Azim, but it appears that he exits based on when the longer tf charts tell him to exit, i.e once it hits a higher trend line, major resistance, or once a candle formation forms telling him that the trend is reversing.

Like I said not sure if that is how Wormie does it but that is how I do it. The only difference really between him and I that I have noticed is that I will close out at the first target, wait for the retrace and enter back in.

C.
  • #4,784
  • Edited 3:22pm Feb 16, 2010 2:43pm | Edited 3:22pm
Quoting Ctic
Not to speak for Azim, but it appears that he exits based on when the longer tf charts tell him to exit, i.e once it hits a higher trend line, major resistance, or once a candle formation forms telling him that the trend is reversing.

Like I said not sure if that is how Wormie does it but that is how I do it. The only difference really between him and I that I have noticed is that I will close out at the first target, wait for the retrace and enter back in.

C.
Your exit strategy also looks good to me, I use supports and trendlines on the higher tf aswell. I am curious to hear from Azim too, always good to improve the exits for me.
"Hate the sin, love the sinner." - Gandhi
  • #4,785
  • Feb 17, 2010 5:41am Feb 17, 2010 5:41am
Quoting TheGabriel
I'm curious Azim, if I can ask how you exit the trades?

I'm also overall bullish on the dollar and the Dx is having an uptrend trendline that looks pretty strong.
Hi Gabe, sorry for the late reply. I was already offline yesterday
C was spot on with my exits tbh. I do however rely a lot on my trail stops as my exit as there's lesser emotional attachment involved when the exit mechanism is somewhat automated lol
Thank You
  • #4,786
  • Feb 17, 2010 6:08am Feb 17, 2010 6:08am
Quoting wormboy
Hi Gabe, sorry for the late reply. I was already offline yesterday
C was spot on with my exits tbh. I do however rely a lot on my trail stops as my exit as there's lesser emotional attachment involved when the exit mechanism is somewhat automated lol
I think the trailing is a good method Azim, the exits really bring some emotions because we want to run them I think technical trailing is good

By the way i closed the euro buy from 1.364 at 1.37368 and I'm looking for a short just under 1.37. I see big shorts in on both Euro and GbpU and these time the pairs look much more vulnerable.
"Hate the sin, love the sinner." - Gandhi
  • #4,787
  • Feb 17, 2010 6:48am Feb 17, 2010 6:48am
Quoting TheGabriel
I think the trailing is a good method Azim, the exits really bring some emotions because we want to run them I think technical trailing is good

By the way i closed the euro buy from 1.364 at 1.37368 and I'm looking for a short just under 1.37. I see big shorts in on both Euro and GbpU and these time the pairs look much more vulnerable.
I'm holding longs on both cable & dragon bro, I'm in no hurry to let go of this
Thank You
  • #4,788
  • Feb 17, 2010 6:49am Feb 17, 2010 6:49am
Quoting wormboy
I'm holding longs on both cable & dragon bro, I'm in no hurry to let go of this
Apie...I mean Wormie lol,

Here is a video for you about the Samurai and butterfly. She needs your protection....lol

Inserted Video


C.
  • #4,789
  • Feb 17, 2010 6:49am Feb 17, 2010 6:49am
Quoting wormboy
Remaining stop amended.

GBP JPY

1. long @140.34 sl @141.00 tp @144.65 (0.1)

Remaining stop amended.

GBP JPY

1. long @140.34 sl @142.00 tp @144.65 (0.1)
Thank You
  • #4,790
  • Feb 17, 2010 7:14am Feb 17, 2010 7:14am
Good call Gabriel. I made some on xau/usd i'm sitting out until news and then i will decide.

Wormhole, hope you can give us a view after the news!
  • #4,791
  • Feb 17, 2010 7:29am Feb 17, 2010 7:29am
Quoting wormboy
I'm holding longs on both cable & dragon bro, I'm in no hurry to let go of this
I feel you wormie ... Cable is holding up well for now so i agree on your decision, on euro i'm glad i'm out right now. Cable doesn't want to give up gains very easy, euro on the other hand looks like a small fish to eat for me
"Hate the sin, love the sinner." - Gandhi
  • #4,792
  • Feb 17, 2010 7:52am Feb 17, 2010 7:52am
Quoting wormboy
Remaining stop amended.

GBP JPY

1. long @140.34 sl @142.00 tp @144.65 (0.1)
You never fail to impress me, i don't trade the dragon but my charts also confirm your buy is to be holded for now. That 144 target is an easy one now, champagne for brother Azim
"Hate the sin, love the sinner." - Gandhi
  • #4,793
  • Feb 17, 2010 8:02am Feb 17, 2010 8:02am
I'm short EurUsd at 1.37076, i've got my confirmation and plan is on now.
"Hate the sin, love the sinner." - Gandhi
  • #4,794
  • Feb 17, 2010 8:25am Feb 17, 2010 8:25am
Eur Usd

1. long @3698 sl @3600 (0.2)
Thank You
  • #4,795
  • Feb 17, 2010 8:28am Feb 17, 2010 8:28am
Quoting TheGabriel
You never fail to impress me, i don't trade the dragon but my charts also confirm your buy is to be holded for now. That 144 target is an easy one now, champagne for brother Azim
Thanks gabe, that was an excellent call off the eur short earlier as well buddy. Grab another glass
Thank You
  • #4,796
  • Feb 17, 2010 8:31am Feb 17, 2010 8:31am
Quoting Ctic
Apie...I mean Wormie lol,

Here is a video for you about the Samurai and butterfly. She needs your protection....lol

http://www.youtube.com/watch?v=wc3f4...layer_embedded

C.


funky ass song, reminds me off Aqua! lol
Thank You
  • #4,797
  • Feb 17, 2010 8:33am Feb 17, 2010 8:33am
Quoting MartinR

Wormhole, hope you can give us a view after the news!
The fomc later? I give you one view now, it's gonna get messy
Thank You
  • #4,798
  • Feb 17, 2010 10:05am Feb 17, 2010 10:05am
Quoting TheGabriel
I'm short EurUsd at 1.37076, i've got my confirmation and plan is on now.
Eurousd moving lower, first target for me is 1.360 but I think we can go lower, I say target but I don't mean the fixed tp because there's none.
"Hate the sin, love the sinner." - Gandhi
  • #4,799
  • Feb 17, 2010 10:12am Feb 17, 2010 10:12am
That's what I'm seeing in the metals and also gbp/usd.

I'm agressive short gbp/usd.

Azim, I read you are holding long positions, has something changed with the couple of news?
  • #4,800
  • Feb 17, 2010 10:21am Feb 17, 2010 10:21am
Shorts have taken over the buys on Cable i think. 3 speculative sell attacks today and it's gone i think.
"Hate the sin, love the sinner." - Gandhi
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