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Silent Service Method

  • #9,481
  • Jun 29, 2010 3:33pm Jun 29, 2010 3:33pm
Quoting samer960
i have been watching your charts and for me your trading is like a text book .
bravo
samer
Huh?? Are you sure that you are looking at my charts??

Thanks for the vote of confidence. I feel like I am starting to 'get it' finally.

Please keep providing feedback.
  • #9,482
  • Jun 29, 2010 3:36pm Jun 29, 2010 3:36pm
Quoting clockwork71
The simple answer is this: The longer the time frame, the more you can watch. If you are only trading off the weekly for example, you have all the time in the world.

Also, you can see the better set ups. It really comes down to what kind of time you have, and not trying to micro manage the markets......
I am currently trading off of the daily chart while using the weekly as the 'big picture'.

My attitude about trading and the market in general has been changing since I started with this thread. I can really see myself trading off of the weekly chart eventually.
  • #9,483
  • Jun 29, 2010 4:33pm Jun 29, 2010 4:33pm
Quoting Arfer Daily
Out of interest why did you take profit? Are you expecting it to stop going down at 1.2150?

I had been in this trade since 16 June and it had gone against me quite dramatically along with the GBP/USD. I decide once it reached a decent level I would set a T/P.

I also had been watching it as a box trade between 1.2500 and 1.1900 and the mid point was 1.215. So I set my T/p @ 1.2160.

I have been nursmaiding my trades too much recently, so set my tp went off to work forgot about the trade and came home to profit. That was a good day.
Attached Image (click to enlarge)
Click to Enlarge Name: EUR_USD.png Size: 63 KB
  • #9,484
  • Jun 29, 2010 4:49pm Jun 29, 2010 4:49pm
Quoting Maggioz
.....so set my tp went off to work forgot about the trade and came home to profit. That was a good day.
This is the essence of trading. Not working at all, rather letting the market work for you.
  • #9,485
  • Jun 29, 2010 7:13pm Jun 29, 2010 7:13pm
Quoting clockwork71
This is the essence of trading. Not working at all, rather letting the market work for you.
Can I get an Amen!
  • #9,486
  • Jun 29, 2010 11:36pm Jun 29, 2010 11:36pm
Quoting Maggioz
I had been in this trade since 16 June and it had gone against me quite dramatically along with the GBP/USD. I decide once it reached a decent level I would set a T/P.

I also had been watching it as a box trade between 1.2500 and 1.1900 and the mid point was 1.215. So I set my T/p @ 1.2160.

I have been nursmaiding my trades too much recently, so set my tp went off to work forgot about the trade and came home to profit. That was a good day.
So far it looks like a good call but I'm holding my shorts still for another push to break 1.2150.
Position trader - Anything intraweek is just noise...
  • #9,487
  • Jun 30, 2010 2:55am Jun 30, 2010 2:55am
Early days yet but we could have a trendline forming here. The magenta lines are short term s/r as opposed to the blue round numbers from the weekly chart.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd 1 hour 30 06 10.gif Size: 41 KB
Click to Enlarge Name: eurusd 4 hour 30 06 10.gif Size: 40 KB
Position trader - Anything intraweek is just noise...
  • #9,488
  • Jun 30, 2010 5:28am Jun 30, 2010 5:28am
Scrap that, it's going higher!
Position trader - Anything intraweek is just noise...
  • #9,489
  • Jun 30, 2010 7:09am Jun 30, 2010 7:09am
eur/usd.....
Attached Image (click to enlarge)
Click to Enlarge Name: eur.png Size: 41 KB
  • #9,490
  • Jun 30, 2010 7:10am Jun 30, 2010 7:10am
Quoting trade price
AUD/USD DAILY.

Yeah....I wondered if someone was going to bring up the falling wedge. It's not a common pattern with the traders in this thread, but fairly well known....

Good chart.
  • #9,491
  • Jun 30, 2010 7:52am Jun 30, 2010 7:52am
I got stopped out for a reasonable profit on my accumulated trades but I've re-entered short. If you look at the entire last move down it has reached the 50% fib of THAT move. I was looking too close in. I still think it's going down.
Position trader - Anything intraweek is just noise...
  • #9,492
  • Jun 30, 2010 8:58am Jun 30, 2010 8:58am
blog updated
  • #9,493
  • Jun 30, 2010 9:41am Jun 30, 2010 9:41am
Quoting trade price
eur/gbp daily
I am still bearish long term on eg.
  • #9,494
  • Jun 30, 2010 10:13am Jun 30, 2010 10:13am
Anyone looking at the charts and wondering what SNB is waiting for? CHF getting really strong...............got some good pips on GBPCHF short since yesterday.....cheers
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCHFDaily.png Size: 54 KB
  • #9,495
  • Jun 30, 2010 10:26am Jun 30, 2010 10:26am
Good to know you also watching it..........i have more or less similar chart but looking at the 1.2350 area, yellow triangle on my chart as we have the following:-
RN, Support at RN, Trend is down, Test of TL

Quoting clockwork71
eur/usd.....
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH8.png Size: 47 KB
  • #9,496
  • Jun 30, 2010 2:41pm Jun 30, 2010 2:41pm
Quoting Danku
Good to know you also watching it..........i have more or less similar chart but looking at the 1.2350 area, yellow triangle on my chart as we have the following:-
RN, Support at RN, Trend is down, Test of TL

Yeah, it looks like it wants to come apart at the end of trading today.....go figure.
  • #9,497
  • Jun 30, 2010 2:43pm Jun 30, 2010 2:43pm
Today is the last day of the first half of the year for trading.

The S&P500 looks like it will finish at about .5%-1% down for the year so far.

I think we are going to see acceleration to the downside, and soon. Hell, even Jim Cramer suggested he's been too "Polyanna" about the market. If that's the case, it could get ugly....


***FYI - If the S&P 500 closes below 1040, it's a bad sign.***
  • #9,498
  • Jun 30, 2010 3:07pm Jun 30, 2010 3:07pm
Hi Cris,

What do you think about usdjpy pair? It looks like we might test 85 again? Thank you!
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.gif Size: 18 KB
  • #9,499
  • Jun 30, 2010 3:31pm Jun 30, 2010 3:31pm
Quoting blackhell
Hi Cris,

What do you think about usdjpy pair? It looks like we might test 85 again? Thank you!
I don't know, and to be honest, the BoJ will get involved if this keeps up.
  • #9,500
  • Jun 30, 2010 3:40pm Jun 30, 2010 3:40pm
Quoting clockwork71
Today is the last day of the first half of the year for trading.

The S&P500 looks like it will finish at about .5%-1% down for the year so far.

***FYI - If the S&P 500 closes below 1040, it's a bad sign.***
Agree 100% on your last point. The chart on the market looks broken to me...

Small correction though. The S&P started the year at 1115, so it's down about 7% for the year...

Could be worse though I suppose...China, Brazil, Greece, Spain, and lets not forget Kazakhstan all had worse returns than we did...Borat's 401k must be really hurting...
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