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Nearly Naked (Simple Trades)

  • #5,841
  • Jul 8, 2010 9:58am Jul 8, 2010 9:58am
A/U... my potential PO targets for the day. Good Luck everyone.
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #5,842
  • Jul 8, 2010 10:30am Jul 8, 2010 10:30am
Quota surpassed..done for the day... off to Downtown Disney for the day!
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #5,843
  • Jul 8, 2010 11:27am Jul 8, 2010 11:27am
Quoting MarcVUM
Good Morning.
http://smileys.smileycentral.com/cat/3/3_8_12v.gif

Saxon, you are still up? Oh my gosh.. have you lost your mind?
No, i think my brain is still intact
  • #5,844
  • Jul 8, 2010 11:31am Jul 8, 2010 11:31am
Quoting janson
Hey Saxon,

nice thread. I wonder what initial SL you use for bounces like the Cable short today (R1 + 38.2 fib). Do you use hard stops?
These days S+R levels often get spiked more than usual and too narrow stops would take you out. On the other side when I see huge moves vs. dollar like the past days I want to take first profit as soon as possible when I am trading pro dollar.

I have no trouble spotting reaction points to enter, but I haven't found a sound method to place the right stop in the right market environment. Maybe you can help me...
I guess it depends on how significant the S/R is. If it is and S/R with like a Pivot or a "00" you can hive tighter stops. If it is a stand-alone S/R then maybe a wider stop. If there is a good confluence of TLs, "00"s, Pivs, S/R etc... Then I have them right around 20 or so. My average is probably about 30 pip stops, that is what my default is on my terminal. But it really does depend on the situation though. Also, look at the positions and try to forecast how much you will get out of it vs how much you will need to reasonably risk (RRR). If this isn't greater than 1, no go on the trade
  • #5,845
  • Jul 8, 2010 11:34am Jul 8, 2010 11:34am
Quoting MarcVUM
Hi Janson. I have a feeling Saxon is going to be away from the desk for most of the day...looks like he was trading for nearly 24 hrs straight. He's a machine!

Take a look at this post #4493
It is how I trade the S/R bounces. I've noticed that most A/U M15 candles are 5-10 pips long so with a beast like G/U I usually use a 15 - 20 pip initial S/L. I hope this helps.
Ya, I have meetings today too, boooo, the administrative side of trading, boooo. Just when things look to be topping off too. Ya, I will be napping on and off today. Probably shouldn't operate heavy machinery too Still really tired. Wish I was going to Disney Land with you though, not fair
  • #5,846
  • Jul 8, 2010 11:45am Jul 8, 2010 11:45am
in a trade now, ECad short from 1.32344
A person is only limited by the thoughts he chooses.Þeir fá byr sem bíð
  • #5,847
  • Jul 8, 2010 12:14pm Jul 8, 2010 12:14pm
and cut my risk by half.
A person is only limited by the thoughts he chooses.Þeir fá byr sem bíð
  • #5,848
  • Jul 8, 2010 1:22pm Jul 8, 2010 1:22pm
aand my SL was hit
A person is only limited by the thoughts he chooses.Þeir fá byr sem bíð
  • #5,849
  • Jul 8, 2010 3:07pm Jul 8, 2010 3:07pm
Getting another rally today?
  • #5,850
  • Jul 8, 2010 3:13pm Jul 8, 2010 3:13pm
Closed all my positions. Waiting for this to settle. Will wait for new Pivs and S/R to reset and then look over my charts again.
  • #5,851
  • Jul 8, 2010 4:27pm Jul 8, 2010 4:27pm
I am still (painfully) in my AUD short, and will let it play out with the .88 sl still on. Perhaps there will be a magical turnaround in the risk trade.
  • #5,852
  • Jul 8, 2010 4:37pm Jul 8, 2010 4:37pm
Hi. Saxon are you looking at 1.2640-50 to long the e/u ?
  • #5,853
  • Jul 8, 2010 4:41pm Jul 8, 2010 4:41pm
Quoting atton
Hi. Saxon are you looking at 1.2640-50 to long the e/u ?
Ya, would be DS1.
  • #5,854
  • Jul 8, 2010 4:44pm Jul 8, 2010 4:44pm
EU is on one right now. Just wont correct
  • #5,855
  • Jul 8, 2010 4:56pm Jul 8, 2010 4:56pm
EU on my radar too:

http://www.forexfactory.com/showthre...15#post3861115
  • #5,856
  • Jul 8, 2010 4:56pm Jul 8, 2010 4:56pm
Should be anytime now or not at all
I am short @ 1.26929
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  • #5,857
  • Jul 8, 2010 4:58pm Jul 8, 2010 4:58pm
Quoting Saxon
Should be anytime now or not at all
I am short @ 1.26929
Why can't all charts look like yours Saxon?

Clean, zoomed out, some simple lines. I might have to give that white background a try.
  • #5,858
  • Jul 8, 2010 4:59pm Jul 8, 2010 4:59pm
Quoting Low
Why can't all charts look like yours Saxon?

Clean, zoomed out, some simple lines. I might have to give that white background a try.
Got the white background idea from Shahab
  • #5,859
  • Jul 8, 2010 5:05pm Jul 8, 2010 5:05pm
Also, re-trying my long UCHF @1.05
Had to trades on UCHF for 50 last night, see if it can do it again. Market has been kinda nuts the last few days.
  • #5,860
  • Jul 8, 2010 5:07pm Jul 8, 2010 5:07pm
If GU can get there, would like a small long in first blue box. WP and DS1 and "00"
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