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Silent Service Method

  • #7,321
  • Feb 27, 2010 7:49am Feb 27, 2010 7:49am
Quoting Danku
Am with you on this one Chris, just not sure where we will see the bounce....if you look at the weekly, we had a channel which broke......am still baised to the down side and looking at 1.24500 as the destination.

Cheers

It's funny that you are thinking it's going to 1.24500 in the end - I have been hearing that more and more from other people. Perhaps it will.

I like shorting this pair - just not at the moment.......If I get a set up to short it higher, I will. If it breaks down from here - I will have to look for a retest of this area or something.
  • #7,322
  • Feb 27, 2010 9:19am Feb 27, 2010 9:19am
Quoting wh1zz0
Yeah..

I'll leave pound-dollar for now ... However, here's what I'm watching:

Attachment

Attachment
Got stopped out @ BE on AU and for a small loss on GBP/AUD (-50pips), this is why it is always good and advisable to move SL to BE quickly once you are on a counter-trend trade. Trade management is key. Also, knowing the right conditions and the type of trade (A++ or B or C or D) is really important as well because different scenarios should be handled differently.
  • #7,323
  • Feb 27, 2010 10:43am Feb 27, 2010 10:43am
i will watch around 1.39 to 1.40 area to short it , i do agree with chris this area hopefully will give us the opportunity to ride it back down .
as for where is it going this pair , i heard people talking 1.1 by the end of the year .( maybe they have a Crystal ball ) time will tell .
samer
Quoting clockwork71
It's funny that you are thinking it's going to 1.24500 in the end - I have been hearing that more and more from other people. Perhaps it will.

I like shorting this pair - just not at the moment.......If I get a set up to short it higher, I will. If it breaks down from here - I will have to look for a retest of this area or something.
  • #7,324
  • Feb 27, 2010 12:02pm Feb 27, 2010 12:02pm
Agree 110% guys...keep your powder dry.

The bigger picture I'm seeing is a massive H & S with projections to below par.

Alot of traffic before that and the opptimistic e/u boys... but Robert Precther always states that prices crash to where they started.

Man, this could be fun !!

good hunting,

golferfx
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  • #7,325
  • Feb 27, 2010 12:46pm Feb 27, 2010 12:46pm
Anybody got any idea why a lot of mining stocks printed bullish pins friday?

Considering low rates are good for such capital-intensive investments, maybe it was ben's yammering about the "tepid-recovery" lol.
  • #7,326
  • Feb 27, 2010 6:25pm Feb 27, 2010 6:25pm
Quoting clockwork71
It looks like it is trying to bounce, as you would expect in this area because of all the support. My thoughts lean a little more towards letting it bounce to 1.40 (if it can) and then looking to short it there. I think you could make a trad out of this bounce, but the longer term I would still be a little hesitant of buying this pair.

Chris
thanks chris... I shall keep all yours and others analysis in mind...
  • #7,327
  • Feb 27, 2010 6:27pm Feb 27, 2010 6:27pm
Quoting Low
Anybody got any idea why a lot of mining stocks printed bullish pins friday?

Considering low rates are good for such capital-intensive investments, maybe it was ben's yammering about the "tepid-recovery" lol.

The one thing about Friday is that it was a really light volume day. I think the NYSE only did about 600 million shares.....which is really light.

I wouldn't read too much into anything from Friday to be honest. Maybe we are going to get a little bit of a bounce for a few days....but I think something has changed. I think Wall Street is starting to understand that the unemployed, and people worried about finding work do not buy things.

Hard to believe that could be news.....but go figure.
  • #7,328
  • Feb 27, 2010 11:09pm Feb 27, 2010 11:09pm
Here is something I was playing around with. It's a program called Adobe Captivate 4, and it's one of my new teaching tools. Pretty cool stuff, although I am still fairly basic level here..... lol

http://thetraderguy.com/globe/globe.swf
  • #7,329
  • Feb 28, 2010 9:19am Feb 28, 2010 9:19am
Quoting clockwork71
Here is something I was playing around with. It's a program called Adobe Captivate 4, and it's one of my new teaching tools. Pretty cool stuff, although I am still fairly basic level here..... lol

http://thetraderguy.com/globe/globe.swf
I've read your posts for February over at your new site. There's a lot of wisdom in them. I agree completely that life is much more than trading.

I also think you're right about avoiding the noise, it can easily lead to analysis paralysis.

Nice work, keep it going - I'll be a regular reader.
  • #7,330
  • Edited 2:00pm Feb 28, 2010 9:53am | Edited 2:00pm
Quoting o990l6mh
I've read your posts for February over at your new site. There's a lot of wisdom in them. I agree completely that life is much more than trading.

I also think you're right about avoiding the noise, it can easily lead to analysis paralysis.

Nice work, keep it going - I'll be a regular reader.
Thanks mate. Any compliment from MacGyver is always appreciated. ;-)
  • #7,331
  • Feb 28, 2010 4:08pm Feb 28, 2010 4:08pm
Quoting samer960
lol , i have already 3 kids and a wife and .... oops. maybe she will read this post .
u know what chris , i have said that because in this forum there are very few posting a live setup and a live trade and update of trades they took , so many super guru they just talk without ever posting anything , or other worse they post a chart with i entered here and get out there and i made so many pips . so much lying and pretending .
this thread is different . it is real and about real trading
anyway , stop filling ur "to do list" and forget about my...

I wish you would adopt me. I will wash your car. You might get tired of me following you around with my laptop. lol
  • #7,332
  • Feb 28, 2010 4:40pm Feb 28, 2010 4:40pm
Quoting calderone
I wish you would adopt me. I will wash your car. You might get tired of me following you around with my laptop. lol
  • #7,333
  • Feb 28, 2010 5:17pm Feb 28, 2010 5:17pm
Quoting clockwork71
LOL Don't laugh too hard Chris, I live fairly close to you and I don't eat a whole lot.






  • #7,334
  • Feb 28, 2010 6:13pm Feb 28, 2010 6:13pm
Quoting clockwork71
This is a great post! I love it! In fact, this might be the best thing I have read in weeks.

Pay attention everyone, he hit the nail on the head with this. He had something that is infinitely more important than trading to attend to. The markets were always going to be here when he came back, and he made a very mature decision to wait until the more important things were taken care of. Instead of worrying about getting rich overnight, Centaure invested time and effort in the one thing you can always count on - yourself.

Damn...
Thanks for the compliment .

In my current situation university is keeping me away from overtrading since I usually have so many things to do that I can only spent the remaining time on trading.

I heard from successful traders that they do have a lot of free time in their life and they do not trade the whole day. So the traders have a lot of time for important things which is not only money!
  • #7,335
  • Feb 28, 2010 6:18pm Feb 28, 2010 6:18pm
Quoting clockwork71
Here is something I was playing around with. It's a program called Adobe Captivate 4, and it's one of my new teaching tools. Pretty cool stuff, although I am still fairly basic level here..... lol

http://thetraderguy.com/globe/globe.swf

Looks quite good for the beginning. The voice just sounds a bit mechanical.
  • #7,336
  • Feb 28, 2010 9:06pm Feb 28, 2010 9:06pm
mike i have already 3 , ask chris to adopt u, he got only 2 .. lol

Quoting calderone
I wish you would adopt me. I will wash your car. You might get tired of me following you around with my laptop. lol
  • #7,337
  • Feb 28, 2010 9:51pm Feb 28, 2010 9:51pm
Quoting Centaure
Looks quite good for the beginning. The voice just sounds a bit mechanical.
Yeah, it is a robot....I am looking for better text-to-speech for it. You can tweak it slightly, but not enough. My voice will probably be in most of them anyway.
  • #7,338
  • Feb 28, 2010 9:52pm Feb 28, 2010 9:52pm
Quoting calderone
LOL Don't laugh too hard Chris, I live fairly close to you and I don't eat a whole lot.







Where are you?
  • #7,339
  • Feb 28, 2010 11:12pm Feb 28, 2010 11:12pm
Chris,
I would like to Thank You for this great educational thread,I'm not as active as other members of this forum,but when I get a chance I re-read the whole months postings when I get a free time,and its always a wonderful stuff,starting with technical side of trading and finishing with "psychologically balanced point of view"(especially when price didn't went where you thought it had to go)
I still do not have a great results worth mentioning,but mainly due to my inpatience,and after few great trades I tend to get overconfident which results in greed taking over me. But when I re-think how my understanding changed and shaped during my first 9 months of trading,I feel really great!
So keep up the good work,and I wish you good look to You and Your Family!!!






P.S. usd/chf might be interesting in coming few weeks of time...
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  • #7,340
  • Mar 1, 2010 12:27am Mar 1, 2010 12:27am
As you watch the USDCHF, please do not forget the CURRENT very strong NEGATIVE correlation with the EURUSD.................

Cheers

Quoting NikolasII
Chris,
I would like to Thank You for this great educational thread,I'm not as active as other members of this forum,but when I get a chance I re-read the whole months postings when I get a free time,and its always a wonderful stuff,starting with technical side of trading and finishing with "psychologically balanced point of view"(especially when price didn't went where you thought it had to go)
I still do not have a great results worth mentioning,but mainly due to my inpatience,and after few great trades I tend to get overconfident which...
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