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Silent Service Method

  • #7,981
  • Apr 12, 2010 2:33pm Apr 12, 2010 2:33pm
Quoting TraderDavo
Was watching this. We have a break of the 93 mark. Not sure if this is going to be a breakout/retest and Long position or if we could see the emergence of a solid pin bar. You can see that it also is a break of a year long slightly downward trend, which makes me think it is a continuation of the yearS long upward trend.

Time and price action will tell us!

http://i43.tinypic.com/2exrqk9.gif

Even though I see it as a break out - there just seems to be a lot for it to chew through above here. There will be better set ups out there in my opinion.
  • #7,982
  • Apr 12, 2010 2:36pm Apr 12, 2010 2:36pm
Quoting andrugeno
I would like to see one signal on points 1 or 2...

Attachment

I appreciate all your comments

sorry my english!

Certainly I think if price drops down to those areas, they would be good for potential good entries.

I think of it like this: Until that weekly trend line gets broken back through - we have a "long" signal in general. If you can get this pair cheaper (i.e. lower prices) that's even better.

Welcome to my thread!

Chris
  • #7,983
  • Apr 12, 2010 2:46pm Apr 12, 2010 2:46pm
Conflicting charts... Wouldn't you be tempted to go long on one and short on the other but that would mean going in different directions against the chf!

I'm staying flat (other than my new usdjpy trade) but how do you sort this one out?
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: cadchf.gif Size: 35 KB
Position trader - Anything intraweek is just noise...
  • #7,984
  • Apr 12, 2010 2:49pm Apr 12, 2010 2:49pm
I've recently finished reading the thread through from start to finish and there are some real gems in here. Chris, should there be some kind of index for the thread to keep the best posts together? I'd be willing to trawl through and suggest the best ones for a list at the bottom of the first post? (in common with most other really long threads).
Position trader - Anything intraweek is just noise...
  • #7,985
  • Apr 12, 2010 4:17pm Apr 12, 2010 4:17pm
Quoting TraderDavo
Was watching this. We have a break of the 93 mark. Not sure if this is going to be a breakout/retest and Long position or if we could see the emergence of a solid pin bar. You can see that it also is a break of a year long slightly downward trend, which makes me think it is a continuation of the yearS long upward trend.

Time and price action will tell us!

http://i43.tinypic.com/2exrqk9.gif
Davo,

When I go back just a bit further on the chart I think it paints a different picture. Which is why I went short last night. Currently + 88, stop at BE.

Just my 2 cents. But if it's 'a penny for your thoughts' and then you 'put your 2 cents in' someones making a penny aren't they?
Attached Image (click to enlarge)
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  • #7,986
  • Apr 12, 2010 5:53pm Apr 12, 2010 5:53pm
Quoting clockwork71
The longer I trade currencies and metals, the more concerned I become about the future to be honest. It's ALL one big ponzi scheme. But, it's the world we live in.
I hear ya... Nothing quite like being an "emperor with no clothes;" downright humiliating that our "world empire" is without clothes as well. If we did what the Central Banks of the world do, we'd be locked up and thrown away the key. So I'll refocus on the currencies and tangible assets, which is exactly where the "inflation battle" will be fought in the years to come.

The scenario: a potentially unlimited amount of Dollars chasing limited amounts of natural resources; specifically gold, oil and potable water.

Result: Gold, Oil and Water inevitably go (much!) higher in price the next couple of years and beyond.

Caveat: As non-trader family/friends/clients become more anxious (or bored!) I guide them into purchasing and holding Core Gold and Natural Resources positions, along with some Blue Chip stocks in their portfolios. (Notice I didn't say Bonds!) It's just a responsible and appropriate hedge given the circumstances. (Better late than never!)

However, even then, there are times I resent being typecast yet another savior and/or survivalist. That tired drama too often called "history" is precisely what needs to shift in the world, and it will, eventually, I believe. For truly I invest in the future and it's in the name of the human spirit, not envy. It's toward true mastery and transformation of one's respective purpose for living, which isn't sought but lived.
  • #7,987
  • Apr 12, 2010 6:21pm Apr 12, 2010 6:21pm
Quoting Soca
If we did what the Central Banks of the world do, we'd be locked up and thrown away the key.

Can I get an amen brother!

Two words: Legal fraud
  • #7,988
  • Apr 12, 2010 8:39pm Apr 12, 2010 8:39pm
Quoting Arfer Daily
I've recently finished reading the thread through from start to finish and there are some real gems in here. Chris, should there be some kind of index for the thread to keep the best posts together? I'd be willing to trawl through and suggest the best ones for a list at the bottom of the first post? (in common with most other really long threads).

That might be a bear of a job - but I certainly won't stop you! lol

Seriously, if you are willing to it, just pm the posts, etc....and I will add it.
  • #7,989
  • Apr 12, 2010 8:40pm Apr 12, 2010 8:40pm
Quoting Arfer Daily
Conflicting charts... Wouldn't you be tempted to go long on one and short on the other but that would mean going in different directions against the chf!

I'm staying flat (other than my new usdjpy trade) but how do you sort this one out?

When I get conflicting signals....(in general) I sort it out by not sorting it out - sometimes it's better to be left alone.
  • #7,990
  • Apr 12, 2010 8:47pm Apr 12, 2010 8:47pm
Quoting Soca
I hear ya... Nothing quite like being an "emperor with no clothes;" downright humiliating that our "world empire" is without clothes as well. If we did what the Central Banks of the world do, we'd be locked up and thrown away the key. So I'll refocus on the currencies and tangible assets, which is exactly where the "inflation battle" will be fought in the years to come....
I am actually starting to buy physical silver and gold myself.....I am hoping to accumulate quite a bit over time. I think that there will come a time where both gold and silver go through the roof. It may not be this year or next, but it is probably coming.

As for water, it's hard to tell. I think you are correct in some ways....in some parts of the world there will be wars fought over water supplies. But the richer countries will be able to sort it out with technology and desalinization.

Truthfully, technology is our big hope. This is true with water, oil, and other forms of energy I believe. And by technology, I don't mean wind. Who wants skyscrapers lining the "wind belt?" I read recently it would take 58,000 of these 400 foot tall monsters to power NY state alone. The reason is that only roughly 8,000 of them would be running at any one time. (the true need for producing the power.) Certainly, we can find a better alternative.

Oh wait, there's that whole LNG thing. And the USA is sitting on the largest amount in the world. I'm sure the politicians will find a way to not use it.
  • #7,991
  • Apr 12, 2010 8:48pm Apr 12, 2010 8:48pm
Quoting jharvey407
Davo,

When I go back just a bit further on the chart I think it paints a different picture. Which is why I went short last night. Currently + 88, stop at BE.

Just my 2 cents. But if it's 'a penny for your thoughts' and then you 'put your 2 cents in' someones making a penny aren't they?
Your chart is exactly why I didn't go long on the break out. I didn't go short either....but that's another story.
  • #7,992
  • Edited 10:21pm Apr 12, 2010 10:02pm | Edited 10:21pm
Quoting clockwork71
Truthfully, technology is our big hope. This is true with water, oil, and other forms of energy I believe. And by technology, I don't mean wind. Who wants skyscrapers lining the "wind belt?" I read recently it would take 58,000 of these 400 foot tall monsters to power NY state alone. The reason is that only roughly 8,000 of them would be running at any one time. (the true need for producing the power.) Certainly, we can find a better alternative.
As an engineer, I still believe that the answer lies with either cold fusion, or fusion. Wind, solar and other alternatives can't provide the 24/7 solution that we need.

The US and China are in a race to the moon to mine the Helium 3 that has accumulated in the soil. There is enough HE3 to power the Earth for about 1000 years.

The main reason that I am learning to trade Forex is to make money despite of the crappy economy, because I believe long term, that it is only going to get worse.

I have 50 pips locked on my AUS short. I moved my stop to just above the last consolidation on the 4h.

I wonder if I erase the support line that I drew on my chart if the price would fall faster?
Attached Image (click to enlarge)
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  • #7,993
  • Apr 12, 2010 11:29pm Apr 12, 2010 11:29pm
Quoting jharvey407

I wonder if I erase the support line that I drew on my chart if the price would fall faster?

Hey, it's worth a try! lol
  • #7,994
  • Apr 13, 2010 5:38am Apr 13, 2010 5:38am
Here's an index of sorts for the first 100 pages. It's a start. I did it in notepad as almost everyone can open that. I suppose just add it as an attachment to the first post and highlight it's existence at the top of the first post. It's not amazing but it should help speed a few people along to the best bits to start them off.
Attached File(s)
File Type: txt index1 first 100 pages.txt   5 KB | 319 downloads
Position trader - Anything intraweek is just noise...
  • #7,995
  • Apr 13, 2010 5:48am Apr 13, 2010 5:48am
Yesterday my first JPY long was stopped at BE. The entry of my second attempt, above the daily PIN was never even triggered, so I removed the order once the price broke below support at 93.00. This morning I see a double bar pin on the 4H so I decided to give the market another chance to give me some profit.

I have placed a buy stop above the double bar PIN, with a stop loss below the double bar PIN.

Since I will be out of the office for this morning I have place a target of 100 pips, which is just below resistance at 94.68. I typically don't set TP's but given the state of the market and the fact that I won't be here to adjust my stops I feel that it is justified.
Attached Image (click to enlarge)
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  • #7,996
  • Apr 13, 2010 7:13am Apr 13, 2010 7:13am
The circled areas on this 4 hour chart are interesting. Maybe we are waiting for the shorter time frame traders to break through that downwards trendline for us before we take off with a significant move?
Attached Image (click to enlarge)
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Position trader - Anything intraweek is just noise...
  • #7,997
  • Apr 13, 2010 8:08am Apr 13, 2010 8:08am
Quoting jharvey407

Since I will be out of the office for this morning I have place a target of 100 pips, which is just below resistance at 94.68. I typically don't set TP's but given the state of the market and the fact that I won't be here to adjust my stops I feel that it is justified.

Probably not a bad idea....since the markets are so wishy-washy these days.
  • #7,998
  • Apr 13, 2010 8:57am Apr 13, 2010 8:57am
Quoting jharvey407
Davo,

When I go back just a bit further on the chart I think it paints a different picture. Which is why I went short last night. Currently + 88, stop at BE.

Just my 2 cents. But if it's 'a penny for your thoughts' and then you 'put your 2 cents in' someones making a penny aren't they?

I wasn't saying it was definitely a long. I was saying we were at a PPZ and could see a decent move. I see how Chris thinks there is a little bit of mud to get through going up, but I still think it is a B trade. Not sure if I am going to get in yet, though. May wait for really definitive PA or not get in at all.
  • #7,999
  • Apr 13, 2010 9:49am Apr 13, 2010 9:49am
Hi all,

I am a been reading the forum for some time and I am a big fan of Clockwork from when I was a member @ J16. I am trying to find out how Chris manages stops and take profits?

Example: I entered a short on 4/9/10 for the GBP/CHF. My inital stop was above the pinbar. Now the trade is moving into profit. Would you just move your stop to BE once you are 50 pips in profit?

Cheers all,

Tyler
Houston, TX
  • #8,000
  • Apr 13, 2010 10:20am Apr 13, 2010 10:20am
Quoting tylerldurden
Hi all,

I am a been reading the forum for some time and I am a big fan of Clockwork from when I was a member @ J16. I am trying to find out how Chris manages stops and take profits?

Example: I entered a short on 4/9/10 for the GBP/CHF. My inital stop was above the pinbar. Now the trade is moving into profit. Would you just move your stop to BE once you are 50 pips in profit?

Cheers all,

Tyler
Houston, TX
Somewhere, in the beginning of this thread.....I mention about trailing a stop behind the last pullback, and setting a T/P on counter trend trades. The basic idea is to let the market tell you when to get out. I will try and post something today about it, between sessions of gathering all my tax info.
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