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  • #236,821
  • May 5, 2010 11:27am May 5, 2010 11:27am
Quoting gatorinla
when you find your self in a hole....
absolutely
  • #236,822
  • May 5, 2010 11:29am May 5, 2010 11:29am
Quoting gatorinla
when you find your self in a hole do a good job.. do a good job before climbing out. so you get invited again.
  • #236,823
  • May 5, 2010 11:32am May 5, 2010 11:32am
Quoting just fibbing
re-entering long @1.2844 (if gets there) for S1 re-test (again)
don't like PA, so out for now, could re-test S2 before serious bouncy.
  • #236,824
  • May 5, 2010 11:33am May 5, 2010 11:33am
gator, ive been using those wedges youve been posting, theyre pretty reliable. What do you think about, this wedge, entering short at the touch of this wedge's bottom tl?
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  • #236,825
  • May 5, 2010 11:35am May 5, 2010 11:35am
My closing time approaching , will have to close all shorts at around 1.2827 support M5 ( can bouce up as buy setup perfect here) , not any good play taking lots of time & still in doubt tanking so early, overnight riskier than before my eyes to keep them open .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #236,826
  • May 5, 2010 11:36am May 5, 2010 11:36am
It is going down again. Will it bounce off the lowest point of the year?
  • #236,827
  • May 5, 2010 11:37am May 5, 2010 11:37am
lots of comparison with the u.s. some people think they know some type of secret about u.s. problems. the reality is you dont. the market already knows about u.s. problems. we trading already know.. times have changed.. you had a decade when any dummy calling himself a trader, could short u.s.d. and make money. its over.. the market has decided.

evolve

if not, its Darwinism at its finest. i am a fan of Darwinism
those who can, do. those who cant, talk about those who can
  • #236,828
  • May 5, 2010 11:37am May 5, 2010 11:37am
This break of the trendline on the 5 minute chart provided a great re-entry back in with the trend.

Initial 15 pip stop loss now sat on approx 3 x R. No intention on taking profit so stop at BE and let it run or die :-)
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  • #236,829
  • May 5, 2010 11:38am May 5, 2010 11:38am
We can hope you can see on my chart the weekly channel is the yellow-gold,the daily is red and blue for 4hr.

The pa is clearly outside the weekly channel..
dean




Quoting fontu
Suddenly look the daily chart ,if bull can mange to close at the tl at 1.2861 , that unsuccessfull break of the tl & 200pips may easily bounce next day. so far ok for bear & perhaps going to happen that.
fontu
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  • #236,830
  • May 5, 2010 11:39am May 5, 2010 11:39am
Quoting dean walker
Please share I am digging myself out of a deep hedge pip by pip..
dean
well many people have answered your question, i would suggest it also, because i dont know the figures how much, when/what is the price u enter...

logically, yes, letting it go would be the best approach now. u will always have profitable trades in future. don't worry cheer up.

if you really want me to answer, then i would say pick a few logical price projections on possible retracements. there, you decide how much longs you want to release(close), at the same time take a short, multiply by certain factor ( this you must determine, cox it includes you current total long and current total shorts), consider the targets and shorts, decide to close 1/2 or 1/3 or 1/4 of shorts when target is reached.

release your orders in waves, coupled with plus/minus(factor) of shorts or longs, slowly reducing one and increasing one.
sometimes my factor for increasing/decreasing order sizes might be different for entries and exits.

this is difficult man, how am i suppose to explain this without any numbers...
i try to generally explain the process of how i add longs/shorts...
hopefully it can help you.

your situation right now, requires to to determine price zones that you would want to release more/less of that order.

***if you ain't sure exactly how you wanna release your longs, please do follow the advice given by people here to exit because by hedging, you are exposed to more risks, and more considerations needed to place your order. close your position and there will always be a better trade next time.

*note: orders must be entered at logical price level.
  • #236,831
  • May 5, 2010 11:41am May 5, 2010 11:41am
1.2830 gone long. SL 10 pips.
  • #236,832
  • May 5, 2010 11:41am May 5, 2010 11:41am
I was able to catch a nice short from the rejection of S1 and took profit at 30pips. Some nice beer money for tonight
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  • #236,833
  • May 5, 2010 11:41am May 5, 2010 11:41am
Quoting mfoste1
gator, ive been using those wedges youve been posting, theyre pretty reliable. What do you think about, this wedge, entering short at the touch of this wedge's bottom tl?
looks good to me.. but that l blue tl i see i dont know what its for... it may stop the down move..
those who can, do. those who cant, talk about those who can
  • #236,834
  • May 5, 2010 11:43am May 5, 2010 11:43am
Thanks but you do not understand my situation. However I very much agree with you as far as manual trading goes..
What happened to me was a "act of god" he must be really pissed at me..
dean







Quoting JasonGuillen
I want you to realize something.

By hedging, you have "agreed" to only use a certain amount of your equity. Say you have 5K and then you are down 2K. You hedge.

Regardless of whether you Hedge or not, you ONLY have 3K worth of equity to use. YOUR OTHER MONEY IS UNAVAILABLE FOR TRADE. There is no difference between a hedge and a loss, except between your ears.

IF you hedge, you are stressing about where to release it, If you are wrong, you can lose more. If you let it go, you can just take a day, refocus, then make money.

Let it go. Start...
  • #236,835
  • May 5, 2010 11:43am May 5, 2010 11:43am
Quoting Atlast
1.2830 gone long. SL 10 pips.
I was just thinking of going short again, but I'll wait, gonna wait for PA
  • #236,836
  • May 5, 2010 11:45am May 5, 2010 11:45am
Quoting uraceulose
thx, yeah I don't follow E/J as much I probably should but after checking it out real quick on daily/4hr...I think that has something to do with it.
well, as we're talking, seems like uj just keeps tanking lower. tank it down abit more and it would deviate it self out of my comfortable zone.

weel, in my perpective, yes shorts does seems better. hmm... might be waiting for it to go up n try short as of now.

my long price zones is still further down
  • #236,837
  • May 5, 2010 11:46am May 5, 2010 11:46am
Going long again 1.2830 if stopped out.
  • #236,838
  • May 5, 2010 11:46am May 5, 2010 11:46am
Quoting gatorinla
looks good to me.. but that l blue tl i see i dont know what its for... it may stop the down move..
yea that blue tl further down is a LT tl....def be a bounce there....
  • #236,839
  • May 5, 2010 11:48am May 5, 2010 11:48am
should have shorted at 1.29 when i saw it retrace that high... foolish me... gotta wait for another retrace... if there will be one :S
  • #236,840
  • May 5, 2010 11:49am May 5, 2010 11:49am
Quoting dean walker
Thanks but you do not understand my situation. However I very much agree with you as far as manual trading goes..
What happened to me was a "act of god" he must be really pissed at me..
dean
well, this is only what i think price might go as of now... i'm not vouching it'll defitnitely go there...

based on my charts now... i would release long at 1.289/1.29 and take short.
1.294/1.295 release long add short,
1.307/1.309 release long add short,
1.328/1.33 release long add short.

as of now, these prices are logical enough for me to take the trade.
if i took the first 2, then i need to reconfirm or make some adjustments to take my 3rd n 4th.
these are price zones, not pinpoint resistance line
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