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Nearly Naked (Simple Trades)

  • #1,541
  • Edited 9:57pm May 16, 2010 9:50pm | Edited 9:57pm
Quoting Saxon
What kind of stops do you have on?
I basically use a set and forget type of play when I see and confirm a breakout. Then trail manually and average in 1%-5% as it moves in my favor. This way by the time it goes so far (as it has done on EU for instance), you notice your lot sizes have increased tremendously & prudently.

For my GU I only have one position which I entered at 1.4455 and SL @1.4550.

While EU I have been trailing since ~1.3

.... Meanwhile I see some sort of short-term inside buying on the GU (High Volume on H1), so I might close that trade soon since I have just one position.
  • #1,542
  • May 16, 2010 9:51pm May 16, 2010 9:51pm
Quoting amyc
Thanks Saxon, writings not really my thing though.
Just kidding about the book Great call again though, that was spot on, really impressive.

I'll be back in a little bit you guys/girls. See you at London. Good luck on your trades
  • #1,543
  • May 16, 2010 9:56pm May 16, 2010 9:56pm
Off to bed, till London or NY.

Good trading everyone.
  • #1,544
  • May 16, 2010 11:10pm May 16, 2010 11:10pm
Quoting MarcVUM
No and I am furious! How could I let those profits escape me? I don't know what the hell this thing is doing! Any suggestions will be entertained.
I shorted A/U, long U/Cad and short G/J. I went fishing for a couple hours and came back. I suggest u go fishing. - For like, 5 weeks.
  • #1,545
  • May 16, 2010 11:14pm May 16, 2010 11:14pm
Quoting Clouds
I shorted A/U, long U/Cad and short G/J. I went fishing for a couple hours and came back. I suggest u go fishing. - For like, 5 weeks.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #1,546
  • May 16, 2010 11:22pm May 16, 2010 11:22pm
Quoting Clouds
I shorted A/U, long U/Cad and short G/J. I went fishing for a couple hours and came back. I suggest u go fishing. - For like, 5 weeks.

I entered short A/U and long U/Cad when market opened at .8850 & 1.0350 ,targeting .82 & 1.1 in 4-6 weeks: #2822
  • #1,547
  • May 16, 2010 11:34pm May 16, 2010 11:34pm
Quoting shahab8b
I entered short A/U and long U/Cad when market opened at .8850 & 1.0350 ,targeting .82 & 1.1 in 4-6 weeks: #2822
we may see some fast moves in the coming weeks, like usd/cad up to 1.30, im just gonna manage my trades with a stop loss/lock-in profit for now.
  • #1,548
  • May 16, 2010 11:50pm May 16, 2010 11:50pm
Hi all,

just shorted ej at 113tp at 112.50

hope it works out! anyone in a similar position..??



Mahsam
  • #1,549
  • May 16, 2010 11:55pm May 16, 2010 11:55pm
Quoting Clouds
we may see some fast moves in the coming weeks, like usd/cad up to 1.30, im just gonna manage my trades with a stop loss/lock-in profit for now.

I'm not sure about that pair though, you know they may raise rates in June, with the exception of USD and JPY, the next strong currency in mid-term is CAD imo, very sound fundamental and economy.I'm short GBPCAD and AUDCAD.
  • #1,550
  • May 16, 2010 11:58pm May 16, 2010 11:58pm
Quoting shahab8b
I'm not sure about that pair though, you know they may raise rates in June, with the exception of USD and JPY, the next strong currency in mid-term is CAD imo, very sound fundamental and economy.I'm short GBPCAD and AUDCAD.
who knows, im just going by 2008 numbers. the commodity currencies were last to fall, but fell the hardest.
  • #1,551
  • May 17, 2010 12:10am May 17, 2010 12:10am
Quoting Clouds
who knows, im just going by 2008 numbers. the commodity currencies were last to fall, but fell the hardest.

I know but this time things are different, for instance in 08 Gold fell hard but this time is heading to the sky and beyond.Just me thoughts ,I'm more bearish on EURO ,Cable and AUD than CAD in general.
  • #1,552
  • May 17, 2010 12:11am May 17, 2010 12:11am
Quoting mahsam
Hi all,

just shorted ej at 113tp at 112.50

hope it works out! anyone in a similar position..??



Mahsam

Hi Mahsam, what's the point of this post? You need to post a chart and tell us what's the reason so we can exchange our knowledge and opinion.
  • #1,553
  • May 17, 2010 12:18am May 17, 2010 12:18am
Quoting shahab8b
I know but this time things are different, for instance in 08 Gold fell hard but this time is heading to the sky and beyond.Just me thoughts ,I'm more bearish on EURO ,Cable and AUD than CAD in general.
Some reasons can be investors have no other place to invest their currency. In 2008, gold didn't crash that hard, and now it's making new highs.

2010 may be different, but when these smaller currencies like CAD, and AUD lose value, they tend to lose value against ALL currencies pretty fast. I just say careful, safe havens is JPY and USD, not anything else. The last several months it's been AUD, CAD, USD against the Euro currencies, but my view is that won't last, but it might. Anyway doesn't matter to me, I only want to trade JPY pairs and USD pairs.
  • #1,554
  • May 17, 2010 12:28am May 17, 2010 12:28am
Quoting shahab8b
Hi Mahsam, what's the point of this post? You need to post a chart and tell us what's the reason so we can exchange our knowledge and opinion.
Hi Shahab,

I am fairly new to this site! can u pls tell me how to post charts...?? well if I may i will kinda describe my chart, and on it the 113 level was acting as resistance after the initial break during the asain session price re-traced to 113 and was unable to close above on a 1h chart for 2 consecutive hrs. i just entered short currently in +13 pips

hope that helps

Mahsam
  • #1,555
  • May 17, 2010 12:35am May 17, 2010 12:35am
Well, after a bunch of scalping I think I made up the profits that I missed out on when the free fall occurred. Oh well, I had sold at 8830 and had my TP set at 8810 as a PO and it hit with profit so I shouldn't be complaining!

The question now is where will it retrace to in order to grab a good short again... it might have been 8776.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #1,556
  • May 17, 2010 12:37am May 17, 2010 12:37am
Quoting shahab8b
Hi Mahsam, what's the point of this post? You need to post a chart and tell us what's the reason so we can exchange our knowledge and opinion.
Hi,

i tried attaching the chart hope it worked


Mahsam
Attached Image
  • #1,557
  • May 17, 2010 12:44am May 17, 2010 12:44am
Quoting shahab8b
Hi Mahsam, what's the point of this post? You need to post a chart and tell us what's the reason so we can exchange our knowledge and opinion.
Hi Shahab,

here is a more detailed chart

Mahsam
Attached Image
  • #1,558
  • May 17, 2010 12:54am May 17, 2010 12:54am
Quoting mahsam
Hi Shahab,

here is a more detailed chart

Mahsam

Good ,I shorted the pair last week, will be looking to short again on rallies.I usually post my charts at my thread "weekly COT+ Trade ideas".
If you wanna learn something Saxon's thread is a great place with excellent traders posting here no random call like EURUSD or GBPUSD thread.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: ej2d.gif Size: 20 KB
  • #1,559
  • May 17, 2010 1:01am May 17, 2010 1:01am
Quoting shahab8b
Good ,I shorted the pair last week, will be looking to short again on rallies.I usually post my charts at my thread "weekly COT+ Trade ideas".
If you wanna learn something Saxon's thread is a great place with excellent traders posting here no random call like EURUSD or GBPUSD thread.

Ermmm I got greedy and closed the trade out at a +33 pips... thinking of re-entering at the same level 113 if it goes there again..?

wht would you suggest>.?

Mahsam
  • #1,560
  • May 17, 2010 1:38am May 17, 2010 1:38am
What a day, I am back to test the waters with GU and EU and see what London brings. No real data to get in our way until US open so we can let our analysis do the work. I will have some charts up in the next few. There are a few with-trend trades coming up with significant s/r and "00" for GU and EU. GU PA I wil be watching at 1.44, fib 23. Depending on where you start your fibs, there will be a few confluence points on GU. 38 fib on "00" 1.44 using a fib drawn ~1.463 (beginning of breakout triangle). A confluence of 23 fib and 50 fib drawn from sginificant S/R ~1.5056. And, London can change all of this in open. So I wont really be trading until post open. As I am typing this GU PA is making a fast run on first confluence so it might be void due to speed and timing.
Attached Image (click to enlarge)
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