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  • #264,841
  • Jun 29, 2010 5:34pm Jun 29, 2010 5:34pm
Quoting pauly
NEVER trade against the trend.
Why not? U can always swing on retrace and get some pips. It doesnt matter as I always put smaller lots on retrace and its always fun for me to test my strategy
  • #264,842
  • Jun 29, 2010 5:52pm Jun 29, 2010 5:52pm
Quoting T@rantula
Why not? U can always swing on retrace and get some pips. It doesnt matter as I always put smaller lots on retrace and its always fun for me to test my strategy
I usually never trade against the greater trend as well......Trading with the trend is much easier in many ways.

1. It will always get you out of trouble when you make a bad entry
2. Why attempt to trade against banks with unlimited capital resources at their disposal?
3. Greater RR ratios
4. Less stress
5. If your stops are hit, when trading with the trend, on a reentry you will always make back the loss(assuming you have the trend correct)
6. you can add to winners and let winners run.....
  • #264,843
  • Jun 29, 2010 5:59pm Jun 29, 2010 5:59pm
Quoting mfoste1
I usually never trade against the greater trend as well......Trading with the trend is much easier in many ways...
One simple answer- Black Widow system ™ .Coded and modified Spiders like to swing...
  • #264,844
  • Jun 29, 2010 6:09pm Jun 29, 2010 6:09pm
looking at 1hr chart price retraces perfectly to the first line of resistance. short running SL @ BE as you can see, most likely will take profit and wait for the possible retracement to the second fibonacci level where I have pending shorts.

although if the price manages to continue through 2167 I may turn this into a longer term trade.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 25 KB
  • #264,845
  • Jun 29, 2010 6:13pm Jun 29, 2010 6:13pm
One man's trend is another man's correction......I will trade a correction if it is supposed to last for more than 3 days...but then I would position trade it not swing trade it......meaning I would only pick one entry and one exit.....Ofcourse it wouldn't be the same amount I risk because I am high risk......for pattern traders or anyone corrections are the payback time so unless if you are good at them it's better to stay on the sidelines....It is the opportunities.....Impulsive waves that pay off........corrections are phsychologically defeating....i WAS just hammered in correction.....but I do it because I am still learning and want to gain the experience in trading it .....this new course about corrections and trying to apply it ....can't be a good trader without trying everything out yourself.....


Quoting mfoste1
I usually never trade against the greater trend as well......Trading with the trend is much easier in many ways.

1. It will always get you out of trouble when you make a bad entry
2. Why attempt to trade against banks with unlimited capital resources at their disposal?
3. Greater RR ratios
4. Less stress
5. If your stops are hit, when trading with the trend, on a reentry you will always make back the loss(assuming you have the trend correct)
6. you can add to winners and let winners run.....
  • #264,846
  • Jun 29, 2010 6:14pm Jun 29, 2010 6:14pm
Quoting ak4x
I understand what you're trying to say regarding his actions so far, but then what you just posted speaks volumes in itself...

That's all I'll say for now but you DO see the problem right?

You can consider this post the last thing I have to say on the topic. I reported my own post to Twee and it's his Call now....

I got trades to manage.

Got you loud and clear brother.
If only I knew then what I know now...
  • #264,847
  • Jun 29, 2010 6:31pm Jun 29, 2010 6:31pm
i dont know where we are going. i see the possibility of going no higher now then 2197/2201..(probably wishful thinking on my part). still riding my short with a st target of 2130 plus slip bounce. before that we have to hit todays low and of course the all time mid about 2133. the same targets as posted yesterday... short term on the way to .858 then .77 then .077 to 0. r wherever banks/broker stop trading eu. . good luck

and yes i see the possible ihs on the 1 hour chart.
those who can, do. those who cant, talk about those who can
  • #264,848
  • Jun 29, 2010 6:42pm Jun 29, 2010 6:42pm
1.2050 and 1.2028 at first target we will have minor correction.....I would exit at the first one.......It is wave 3.........We will not go up past 1.2210 before hitting that target in the bottom......

I can post you charts If you like..............WAVE 3 is gold and everybody recognizes trend is down......this is also all in context of a primary wave 3 down.....so I see you like to trade short trends but depending on your risk and returns and if your broker has a first in first out rule I would keep this sell for 2 months at least and you can come back to thank me.....but tell me where you got your sell because we will have one more retracement up and if you clear that line you have a HOME RUN ....Capitalize on it.....Look at a longterm chart choose the best ...I wish would have entered and held positions and this is ONE of them.....

Quoting gatorinla
i dont know where we are going. i see the possibility of going no higher now then 2197/2201..(probably wishful thinking on my part). still riding my short with a st target of 2130 plus slip bounce. before that we have to hit todays low and of course the all time mid about 2133. the same targets as posted yesterday... short term on the way to .858 then .77 then .077 to 0. r wherever banks/broker stop trading eu. . good luck
  • #264,849
  • Jun 29, 2010 6:43pm Jun 29, 2010 6:43pm
No popcorn?

How's everyone? I like this continuation of the downtrend.

Inserted Video
Not all sins are created equal
  • #264,850
  • Jun 29, 2010 6:54pm Jun 29, 2010 6:54pm
It speaks loudly enough that the DJ is at around flash crash values while the Euro is holding well above last lows. Anti correlative hedge anyone? Oh yeah I've been calling that one for a while now
  • #264,851
  • Jun 29, 2010 6:58pm Jun 29, 2010 6:58pm
I'm watching. Playing off the 60m chart with a 2 week history in mind, I want to see if we break and hold 2166. If so, I like a move to 2050ish area. If not, I'm looking for potential upside again.

Looking at 2210ish as possible upside signal.

Of course with the bull rush out of the stock market, never know where this baby is going to end up. All I know is it could go down a ton more or up a ton more.
Only expectation matters . . .
  • #264,852
  • Jun 29, 2010 6:59pm Jun 29, 2010 6:59pm
Quoting Masrim
It speaks loudly enough that the DJ is at around flash crash values while the Euro is holding well above last lows. Anti correlative hedge anyone? Oh yeah I've been calling that one for a while now
Hello Mr. Vladimir Ilyich. Interesting avatar you got there.
Not all sins are created equal
  • #264,853
  • Jun 29, 2010 7:00pm Jun 29, 2010 7:00pm
meh my stop was a tad too tight. Price went pass my stop by 2 pips and resumed downtrend

Oh well. I still got 150 pips. Looking to re-enter short
  • #264,854
  • Jun 29, 2010 7:02pm Jun 29, 2010 7:02pm
Quoting Jay Walker
Hello Mr. Vladimir Ilyich. Interesting avatar you got there.
Ah wonderful person, isn't he? And what a fitting choice for a trading forum... that picture is a classic!
Oh btw mr Ilyich says it's a pleasure to meet you too
  • #264,855
  • Jun 29, 2010 7:02pm Jun 29, 2010 7:02pm
Quoting thelws
meh my stop was a tad too tight. Price went pass my stop by 2 pips and resumed downtrend

Oh well. I still got 150 pips. Looking to re-enter short
If it breaks 2178, it's something to think about.
Not all sins are created equal
  • #264,856
  • Jun 29, 2010 7:03pm Jun 29, 2010 7:03pm
Quoting Masrim
Ah wonderful person, isn't he? And what a fitting choice for a trading forum... that picture is a classic!
Well, my views aren't quite in line with his but I recognize an historical figure when I see one. That picture is definitely a classic.
Not all sins are created equal
  • #264,857
  • Jun 29, 2010 7:34pm Jun 29, 2010 7:34pm
Quoting gatorinla
i dont know where we are going. i see the possibility of going no higher now then 2197/2201..(probably wishful thinking on my part). still riding my short with a st target of 2130 plus slip bounce. before that we have to hit todays low and of course the all time mid about 2133. the same targets as posted yesterday... short term on the way to .858 then .77 then .077 to 0. r wherever banks/broker stop trading eu. . good luck

and yes i see the possible ihs on the 1 hour chart.
looks like my targets are misunderstood. longer term.

this may help.
0.858 0.77 and 0.077 r 0.000
those who can, do. those who cant, talk about those who can
  • #264,858
  • Jun 29, 2010 7:35pm Jun 29, 2010 7:35pm
Amazon and Rimm up 6-7% closing during afterhours.. does this happen often? I mean up big afterhours only to level off during premarket.

Jag
  • #264,859
  • Jun 29, 2010 7:35pm Jun 29, 2010 7:35pm
Quoting gatorinla
looks like my targets are misunderstood. longer term.

this may help.
0.858 0.77 and 0.077 r 0.000
  • #264,860
  • Jun 29, 2010 7:37pm Jun 29, 2010 7:37pm
yeah gator, i think you just shocked the shit out of a few here...

i'll quote that post for ya in a few years..
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