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Nearly Naked (Simple Trades)

  • #4,721
  • Jun 25, 2010 3:58pm Jun 25, 2010 3:58pm
I broke my rules and traded today. I also made an impulse trade at a 00 number and price shot through and hit my stop.

My loss was 18 pips.

But that's what stops are for and it was small. I'll make it back 10 fold on monday!


I won't be around the whole NY session as I am teaching a trading class to some gov. employees. lol

"Take charge of your investments!" lol

I'm teaching them ichimoku at that!

Hope everyone has a great weekend!!!
  • #4,722
  • Jun 25, 2010 4:02pm Jun 25, 2010 4:02pm
Quoting calderone


I won't be around the whole NY session as I am teaching a trading class to some gov. employees. lol

"Take charge of your investments!" lol

I'm teaching them ichimoku at that!

Hope everyone has a great weekend!!!
Don't government institutions need to spend/lose what money they're given in order to qualify for more?

I can't imagine they would have much incentive (unless these are private investors who happen to work in government).
  • #4,723
  • Jun 25, 2010 4:15pm Jun 25, 2010 4:15pm
Quoting MarcVUM
Thanks everyone for wishing me a Happy Birthday! So far so good!

http://smileys.smileycentral.com/cat/13/13_10_16.gif
Happy Birthday Marc, and all the best
Find a job that you love and you dont have to work again in your life.
  • #4,724
  • Jun 25, 2010 10:34pm Jun 25, 2010 10:34pm
Wow! I've never had so many people wish me a Happy Birthday!
The day was Fantastic! I even made a few pips early this morning!

Thanks Everyone!
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #4,725
  • Jun 25, 2010 11:06pm Jun 25, 2010 11:06pm
Quoting MarcVUM
Wow! I've never had so many people wish me a Happy Birthday!
The day was Fantastic! I even made a few pips early this morning!

Thanks Everyone!
Happy Birthday MarcVUM!!!

those pips you made was your birthday present from the market
  • #4,726
  • Jun 26, 2010 10:39am Jun 26, 2010 10:39am
Quoting Low
Don't government institutions need to spend/lose what money they're given in order to qualify for more?

I can't imagine they would have much incentive (unless these are private investors who happen to work in government).
Sorry for the late reply, my power went out yesterday.

I am doing this as a favor to the warden. It seems there are some employees interested in investing.
  • #4,727
  • Jun 26, 2010 1:33pm Jun 26, 2010 1:33pm
I still need to learn things tottaly wel especially the fundies but any feedback is welcome.


And i hope you guys like my stuff.


Oke here first the fundamental reason

I start with why i think this whole bull move was here.

(bull move.

-Private despite jobs being filled despite cut in public sector.
-Inflation posing a threat for higher rates but economy situation not yet recovered.
-Sentiment is changing as market has a slight recovery according some numbers.
-Profit taking from short possitions.(short covering) but sentiment still bearish

Oke why i think this bear move will contineu.

-Budget reports a.k.a Austerity program planned increase taxes the us goverment is weighing on the pound.
-Cot show net positioning still short.
-Option risk revarsals negative gbp/usd
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  • #4,728
  • Jun 26, 2010 1:44pm Jun 26, 2010 1:44pm
Quoting ingmarforex
I still need to learn things tottaly wel especially the fundies but any feedback is welcome.


And i hope you guys like my stuff.

As it stands there are roughly a dozen good reasons to short the pound. If you trade intraday or less, there could be easy shorts with small targets, but if you're trading the daily or weekly, you should look for some kind of battle between the longs and shorts before jumping in.

I could imagine Friday's action as qualifying as the type of stop-run I want to see before a reversal, but if you're looking for a couple of handles you should probably wait for price to show you that it wants to go down.

My 0.02.
  • #4,729
  • Jun 26, 2010 5:03pm Jun 26, 2010 5:03pm

Some Areas of interest, possible long term trade.

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Annoying Precision
  • #4,730
  • Jun 26, 2010 8:43pm Jun 26, 2010 8:43pm
Quoting Low
As it stands there are roughly a dozen good reasons to short the pound. If you trade intraday or less, there could be easy shorts with small targets, but if you're trading the daily or weekly, you should look for some kind of battle between the longs and shorts before jumping in.

I could imagine Friday's action as qualifying as the type of stop-run I want to see before a reversal, but if you're looking for a couple of handles you should probably wait for price to show you that it wants to go down.

My 0.02.

Hi low i mentioned the short at 50% fib wit major resistance here i have some other conclusion why i think it will go there for a short whe can hold for a long time.

I think you interpreted me wrong please see charts they will explain what i mean.
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  • #4,731
  • Jun 26, 2010 11:34pm Jun 26, 2010 11:34pm
Quoting ingmarforex
.

I think you interpreted me wrong please see charts they will explain what i mean.
I apologize if I interpreted you wrong. My point is that I would prefer to short it once it starts going down, rather than short it blind. This is just my risk preference, and if you are more aggressive, that's OK too.

I do completely agree that there is a ton of confluence at that level.
  • #4,732
  • Jun 27, 2010 5:31am Jun 27, 2010 5:31am
[quote=Low;3832259]I apologize if I interpreted you wrong. My point is that I would prefer to short it once it starts going down, rather than short it blind. This is just my risk preference, and if you are more aggressive, that's OK too.

I do completely agree that there is a ton of confluence at that level.[/q

i also watch the price action when it start would rather short it right away. But no sorry i know what you mean lol. I think whe both misunderstood.

Take care on this sunday,

Here it is the hottest day of the year time for some fun.

And thanks for feedback
  • #4,733
  • Jun 27, 2010 10:36am Jun 27, 2010 10:36am
In case anyone followed this trade with me on Eur/Aud....
My 1st TP was 1.4132 and missed by 1 pip... I am taking half profit when the market opens and moving the S/L for the remaining half to B/E +10.

1st TP brought in about 150 - 160 pips!
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #4,734
  • Jun 27, 2010 11:05am Jun 27, 2010 11:05am
I decided to post a jpy chart with some recent bear action to show how this trend following method works. I am not trying to detract from price action charting. Just trying to get my mind right before my little class tomorrow.

Ichimoku shows the trend is well underway. If you look at weekly, we could have price continue down or retest the kumo before continuing. The thing to remember with this method is you should try to catch the strong crosses or the retest of the kijun sen if you want to join the party.

I do expect price to visit the 88 area and possibly much lower. I will watch for clue with these charts.
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  • #4,735
  • Jun 27, 2010 12:32pm Jun 27, 2010 12:32pm
Quoting calderone
I decided to post a jpy chart with some recent bear action to show how this trend following method works......

It's nice to see a different method that suggests the same potential.
Here's another view:

http://i49.tinypic.com/nnnw4h.png
  • #4,736
  • Jun 27, 2010 3:43pm Jun 27, 2010 3:43pm
That was a good target.....
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  • #4,737
  • Jun 27, 2010 3:45pm Jun 27, 2010 3:45pm
Target reached, want to take when market opens and i get a good price.
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  • #4,738
  • Jun 27, 2010 3:45pm Jun 27, 2010 3:45pm
Quoting Saxon
Target reached, want to take when market opens and i get a good price.
Wider view
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  • #4,739
  • Jun 27, 2010 3:48pm Jun 27, 2010 3:48pm
Quick UCAD, will give better analysis in a bit
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  • #4,740
  • Jun 27, 2010 3:49pm Jun 27, 2010 3:49pm
Hi guys/gals! I won't be trading the open with you today... my parental units want to take me to dinner! Doesn't look like too much is going to happen though since there aren't really any Gaps that I can see atm.

Happy trading. See you when I get back.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
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