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1000+ pip market moves...hope everyone got it

  • #41
  • May 6, 2010 6:29pm May 6, 2010 6:29pm
wow, what is all this nonsense. It was just a psych reaction to worries with Greece etc already fueling the downtrend.

All we needed was a major player to spark the move when the rest of the world is watching the move, and then they jump on the boat. There wasn't an error, as that wouldn't effect many instruments. YOU cannot move a 3 trillion dollar market a day with just an 'error'. Why I say 3 trillion? Because most currency pairs were shorted, especially the majors. Not just specifics.

In my honest opinion, the currency market drove the crash's that occurred in the equity markets rather than an 'error'.

Its supply and demand, and the currency market has a huge stake in the outcome of other markets. When a major player moves in an already downtrend market, people are already very psyched about the downtrend as it is, so they jump on more. The hell we care about the equity markets, as long as we short and we make money in the currency.
  • #42
  • May 6, 2010 6:52pm May 6, 2010 6:52pm
Quoting Tbb
wow, what is all this nonsense. It was just a psych reaction to worries with Greece etc already fueling the downtrend.

All we needed was a major player to spark the move when the rest of the world is watching the move, and then they jump on the boat. There wasn't an error, as that wouldn't effect many instruments. YOU cannot move a 3 trillion dollar market a day with just an 'error'. Why I say 3 trillion? Because most currency pairs were shorted, especially the majors. Not just specifics.

In my honest opinion, the currency market drove the...
No one said the error sparked it, everything was in a downtrend already, the error just add much more fuel to the fire.
  • #43
  • May 6, 2010 7:49pm May 6, 2010 7:49pm
Quoting Swamp Owl
No, I don't buy that "this was an error, market is acctually ok, just a mistake - nothing to see here, move along, folks" propaganda.

That "error" occured after DOW had already fallen 300 points and - people, how do you feel living in a world where large scale financial meltdown depends only on ... just "N" on keyboard separating b and m.
That's pure absurd.
Just crossed my mind, that there is also nonillion, should be 1,000,000,000,000,000,000,000,000,000,000, so I eat my words and thank all gods he missed that N.
  • #44
  • May 7, 2010 1:51am May 7, 2010 1:51am
Quoting Jhig
Don't really care how many pips the market moves in a day. I don't place a lot of stock behind the pip, instead I place a lot of stock behind the LOT. I rather trade 20-30 pips a day at a high LOTage than run small lots looking for huge moves.

10 pips is a lot easier to catch than 100. = my method for how I trade
That's kinda it. When the market moves this much at once, I get lazy and use gut instinct (well-trained, of course) off simple eyeing of big patterns and candlework. The old trendlines serve enough purpose, since at this level even they are treated as new, high-angle ones.
So I just turn in my thinking cap and try and keep level-headed. Loses on potential, saves on emotions.

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  • #45
  • May 7, 2010 3:04am May 7, 2010 3:04am
Quoting rsmind
Hope everyone sat on this love train.

Wow. just wow. I don't think i need to trade for a few months now.

20:1 RR.

I think I am out now. It's still has lots of momentum, so pips to be made.
I saw the move yesterday on GJ but was afraid to take it until when QQE crossed down on my 1hr chart then i sold.

I set my stop to 140pips and take profit at 210 (1:1.5). the trade went negative but did not touch my stop and i was anxious. I was about to leave my trade station when i decided to look at the daily chart and saw that QQE will cross on the daily soon and also, we are very very close to the low of the 600+pip range (about 119pips then) so i decided to remove my take profit.

Right now, am sitting on 587pips right now.

Also, i dreamed this morning that GJ will drop about 2000pips ( you may not believe this but i think it will touch 118 again).

Will look for a selling opportunity around 145 area i.e. if it goes there again.
  • #46
  • May 7, 2010 8:51am May 7, 2010 8:51am
Poor poor britsh pound, it got raped yesterday. 1) The violent carry trade unwind sparked off by the algo driven crash, and 2) The market pricing in it's outlook of the new British government after yesterday's elections.

PS, to keep to the nature of the thread, I got my 250 pips off the retrace overnight.
  • #47
  • May 8, 2010 12:42am May 8, 2010 12:42am
Wow didnt see this thread as I posted this trade in another thread.
http://i4.photobucket.com/albums/y12...ER1000PIPS.jpg
  • #48
  • May 8, 2010 4:04am May 8, 2010 4:04am
Quoting rsmind
Hope everyone sat on this love train.

Wow. just wow. I don't think i need to trade for a few months now.

20:1 RR.

I think I am out now. It's still has lots of momentum, so pips to be made.

It wouldve been impossible for everyone to have sat on that train...would it not?

given the buyer needs seller and vice versa.
  • #49
  • May 8, 2010 6:56am May 8, 2010 6:56am
Quoting Acedup
It wouldve been impossible for everyone to have sat on that train...would it not?

given the buyer needs seller and vice versa.
The broker will be the buyer/seller, if you were with a MM. So, technically people can sit on the move.
  • #50
  • May 8, 2010 7:54am May 8, 2010 7:54am
Quoting Intensity
That's not really possible, all asset classes had huge moves, credit market included.
An error on the american S&P can't really explain why the EUR/JPY crashed.
I've heard it said that during market downturns all correlations move toward 1. It certainly seemed that way on Thursday.
  • #51
  • Edited 7:21pm May 8, 2010 6:40pm | Edited 7:21pm
The stochastics clearly showed trouble ahead ( as illustrated below in the wavy red and green Multi Time Frame stochastic lines ) near the bottom of each chart.

This was no mistaken key press

I have drawn horizonal lines on each of the charts to frame the area in question.

The charts are the Dow, Russian Ruble, and EUR/YEN. I just picked the dow and two other worldwide currencies randomly.

All the MACd's were down ( the blue wavy rollercoaster like line behind the candles ) in the area in question also. The MACD on the russian ruble was way down. I'm not crazy about the MAC its way too laggy for me. fyi

The MTF resistance/support was also down on all the charts ( the middle blue line with the yellow boxes ). If theres a fat green line in it then its above 50-55. This is a strong indicator almost as good as stochastics. imo

In my opinion, looking over the charts again, it appears that the ruble (RYMO) was pulled down by the DOW. I'm saying that because i see more support in the RYMO volatility pivot point. ( The light blue line that follows the candles ).

Ignore the middle three rows of text, its only accurate on candle 1, so don't read into anything for that.

Could it have been triggered by a snowball effect, ie everyone feeding off of the shorts? possibly.

Could you have avoided it? Though I wasn't trading at the time, if i saw these charts I would say that I would have proceeded with caution at the first vertical line. If i see all the stochs going flat across all the timeframes, it's a heads up for sure.

The best lesson is to know ALL your indicators and what/when they do, nuff said.
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  • #52
  • May 8, 2010 6:51pm May 8, 2010 6:51pm
Quoting kd3726
The stochastics clearly showed trouble ahead ( as illustrated below in the wavy red and green Multi Time Frame stochastic lines ). This was no mistaken key press I have drawn horizonal lines on each of the charts to frame the area in question. The charts are the Dow, Russian Ruble, and EUR/YEN. All the MACd's were down ( the blue wavy rollercoaster like line behind the candles ) in the area in question also. The resistance/support was also down on all the charts.

OMG... How can you trade with those charts? You can't see the price.

Are you mentally OK?
  • #53
  • May 9, 2010 12:58am May 9, 2010 12:58am
Quoting Trad3r
OMG... How can you trade with those charts? You can't see the price.

i was thinking the same thing, i could not make a decision with all the info, looks like kd3726 is flying a stealth fighter jet loaded with some top secret information sources!

no matter, we all have our toys!, oh how we luuuurve toys!
if i used every commercial EA i would be a brazilianare by next week!!!!
  • #54
  • May 17, 2010 12:18pm May 17, 2010 12:18pm
was thinking about this trade today.
some months ago i was in a trade onthe GU and i had a trailing stop set at 50 pips (default onthe my plaform is 55) anyways i got bumped out with 5 odd pips and then the GU tanked 500 pips, and this really cooked my noodle coz if i had used the 55 pip trailing stop (one of the default settings) i would have captured that 500 pips, this really burnt the price licked my SL and then took off......

but now i can hang emy head high and say who give s flying pig !!!

i got 1000 pips now!!!!!

i want to ask seasoned traders how many of you have captured 1000 pips in one position?

i cant expect to get this very often but dang it would be nice!!!!!

or what is the most pips one has captured in one trade ?
if i used every commercial EA i would be a brazilianare by next week!!!!
  • #55
  • May 17, 2010 12:24pm May 17, 2010 12:24pm
Simple, you take a trade in the direction of the trend and hold it for a long time. Thats the easy part.
Annoying Precision
  • #56
  • May 17, 2010 1:54pm May 17, 2010 1:54pm
Quoting Trad3r
OMG... How can you trade with those charts? You can't see the price.

Are you mentally OK?
Do not focus on making money; focus on protecting what you have.
  • #57
  • May 17, 2010 2:55pm May 17, 2010 2:55pm
Quoting Trad3r
OMG... How can you trade with those charts? You can't see the price.

Are you mentally OK?
I think that he may have actually missed a couple from this list. You need them all together for confirmation.
  • #58
  • May 18, 2010 1:35pm May 18, 2010 1:35pm
Who said i look at the screen? Never assume anything.
Understand mathematics because you'll need to know whats under the hood to be in the race, from then on its just syntax. Rgrds.
  • #59
  • May 18, 2010 1:40pm May 18, 2010 1:40pm
Quoting FXSurfer
I think that he may have actually missed a couple ...You need them all .....
Awww, that's cold. Give a guy a thousand indicators.... I don't like it when there are more than 5 choices at the restaurant.
  • #60
  • Last Post: May 18, 2010 4:17pm May 18, 2010 4:17pm
criticism comes easy, i was just trying to present some thoughtful analysis, which is few and far between in these hollow posts. I enjoy the coding and challenges thats all, caesar can keep his coins imo fwiw. Points taken, lesson learned.
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