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Silent Service Method

  • #9,621
  • Jul 8, 2010 2:31pm Jul 8, 2010 2:31pm
Quoting InfinitySL
You'll probably care more about Chris' thoughts, but here are mine:

I know you said 1H TF, but I'll zoom out to the 4H and give you a quick/dirty. I think it's a good trade (actually entered a similar trade yesterday based on similar pattern). Attached are my thoughts...

Attachment
I thought I would add a couple of charts to this discussion. I am long off of the daily PIN.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdjpy d.jpg Size: 130 KB
Click to Enlarge Name: usdjpy w.gif Size: 38 KB
  • #9,622
  • Jul 8, 2010 2:34pm Jul 8, 2010 2:34pm
Quoting jharvey407
I thought I would add a couple of charts to this discussion. I am long off of the daily PIN.

You will no argument from me on this trade......
  • #9,623
  • Jul 8, 2010 2:38pm Jul 8, 2010 2:38pm
Quoting InfinitySL
I'm not sure how much play this first story is getting, but it's certainly one to keep an eye on for those interested in the Euro...
http://blogs.telegraph.co.uk/finance...onetary-union/

Also here's another interesting one about how hedge funds right now are "Frozen in Headlights" given the current price action (this would support the range-bound thesis that Chris has put forward)...
http://www.businessweek.com/news/201...k-trading.html

Anyway,...
As far as the German situation, make no mistake - these clowns don't care about anything being constitutional or not. They want and need the status quo, there is no way that the EU will be allowed to disintegrate as this would possibly be the outcome. Don't worry about it, they WILL BREAK ALL LAWS TO PROTECT THEIR OWN INTERESTS.

I mean, in the US, we can piss all over the constitution in the last 3 years, and nobody really fusses. So why is Europe going to be any different?

I will admit, I thought this was a dead issue though....
  • #9,624
  • Jul 8, 2010 2:44pm Jul 8, 2010 2:44pm
Quoting InfinitySL
I'm not sure how much play this first story is getting, but it's certainly one to keep an eye on for those interested in the Euro...
http://blogs.telegraph.co.uk/finance...onetary-union/

Also here's another interesting one about how hedge funds right now are "Frozen in Headlights" given the current price action (this would support the range-bound thesis that Chris has put forward)...
http://www.businessweek.com/news/201...k-trading.html

Anyway,...
As to the second story....

I think a lot of that problem is being caused by the shitbags who are trading a stock back and forth 20 times a second. They are the only players involved in the stock market at the moment is my guess. I cannot see any use for these "flash traders."

I only bothers me because it can wreck the economy so quickly. Can you imagine if that 1000 point drop in May stuck? We would already be in that double dip recession.....

Games and gambling. And they wonder why people want them drawn and quartered in the streets.

I also think that lower volume might be the new norm over the long run. I think these jokers may have lost a generation of investors. I mean, most of them are at break even over 10 years if they are lucky! I think average people are frankly bored with the stock markets.
  • #9,625
  • Jul 8, 2010 3:09pm Jul 8, 2010 3:09pm
I love your last 2 posts Chris, though I wouldn't say the average investor is "bored" with the stock market, but rather refusing to get financially raped by a computer (again).
  • #9,626
  • Jul 8, 2010 3:17pm Jul 8, 2010 3:17pm
Of interest today's DJIA rally was partly sponsored by really crappy volume (163M), again.

And the 200 and 50 dma's have officially crossed.

Was this a short squeeze?
  • #9,627
  • Jul 8, 2010 3:35pm Jul 8, 2010 3:35pm
Quoting InfinitySL
You'll probably care more about Chris' thoughts, but here are mine:

I know you said 1H TF, but I'll zoom out to the 4H and give you a quick/dirty. I think it's a good trade (actually entered a similar trade yesterday based on similar pattern). Attached are my thoughts...
i took this trade, too, but i am already out again. look at the weekly chart, maybe we "broke" 88 area, and this weekly bar right now is a retest. however i am still at the very beginin of learning, but this weekly chart confused me, so i took the profit and will wait for the action next week.
best regards!

world cup: really frustrated me to see how the germans played, spain was clearly the better team. maybe we get third, but i think germany looks into a bright future cause all those players are pretty young.. spain finally showed the class i was expecting from them!
  • #9,628
  • Jul 8, 2010 4:14pm Jul 8, 2010 4:14pm
Quoting Low
I love your last 2 posts Chris, though I wouldn't say the average investor is "bored" with the stock market, but rather refusing to get financially raped by a computer (again).
Perhaps I should have said bored with losing money in the markets due to the games being played with their money.....it's a structural flaw. If you are playing with a fund's money, it's not yours. You can receive massive bonuses, but aren't actually risking your own money. It's a great gig if you can get it I suppose....
  • #9,629
  • Jul 8, 2010 4:16pm Jul 8, 2010 4:16pm
Quoting Low
Of interest today's DJIA rally was partly sponsored by really crappy volume (163M), again.

And the 200 and 50 dma's have officially crossed.

Was this a short squeeze?
Temporary at best in my opinion.
  • #9,630
  • Jul 8, 2010 10:01pm Jul 8, 2010 10:01pm
Check out the EUR/USD monthly chart.......of course, this month's candle has a long way to go....
Attached Image (click to enlarge)
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  • #9,631
  • Jul 8, 2010 11:32pm Jul 8, 2010 11:32pm
hi
good trade man, your trades are text book as i have said before , i have been in ej long for a while .
keep it up
samer .


Quoting jharvey407
I thought I would add a couple of charts to this discussion. I am long off of the daily PIN.
  • #9,632
  • Jul 8, 2010 11:54pm Jul 8, 2010 11:54pm
maybe time for a retrace !
Attached Image (click to enlarge)
Click to Enlarge Name: euro.gif Size: 13 KB
  • #9,633
  • Jul 9, 2010 6:54am Jul 9, 2010 6:54am
Quoting samer960
maybe time for a retrace !
A few hours later, and it appears that you might be correct.....

But then again, you normally are!
  • #9,634
  • Jul 9, 2010 6:55am Jul 9, 2010 6:55am
I will be away from my desk most of the morning, but will return this afternoon. I am taking the boys to this car show....over 6,000 pre-1972 cars. They will be in heaven!

http://www.good-guys.com
  • #9,635
  • Jul 9, 2010 7:28am Jul 9, 2010 7:28am
Last month, and the beginning of this month have been dismal so far. As I posted earlier, last month I made more winning trades than losing trades but still ended up down for the month based on too many BE trades.

Based on all of the comments about a slow summer and ranging market I decided to try my hand at some 'box' trading. I think I may be getting the hang of it.

The charts are a couple of recent trades of the EJ. The first was a short that hit it's target for + 260 pips.

The second is a long, which I consider CT at this point. I had a target of 114.00, but while looking at the chart this morning I updated it with the two red trend lines defining a channel. I chickened out of the trade and closed it for + 133.

Now I think I'll go back and review Chris's videos on 'box trading' again. This may be the way to trade this summer.
Attached Image(s) (click to enlarge)
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  • #9,636
  • Jul 9, 2010 9:02am Jul 9, 2010 9:02am
Samers go'in short euro !!!!



Good trades James...keep it up !

There are some good trades in the markets...grab some volitile pairs and watch them for potential "box trades"

AudJpy has been a good pair as it is now stuck between S/R and moves very well.

Happy trading,


golfer
Attached Image(s) (click to enlarge)
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  • #9,637
  • Jul 9, 2010 11:39am Jul 9, 2010 11:39am
Quoting jharvey407
Last month, and the beginning of this month have been dismal so far. As I posted earlier, last month I made more winning trades than losing trades but still ended up down for the month based on too many BE trades.

Based on all of the comments about a slow summer and ranging market I decided to try my hand at some 'box' trading. I think I may be getting the hang of it.

The charts are a couple of recent trades of the EJ. The first was a short that hit it's target for + 260 pips.

The second is a long, which I consider CT at this point. I had...
Congrats J-

Those are good trades. And in fact, some people claim to be either a "trend trader" or a "Range trader". I think it's smart to be both myself......
  • #9,638
  • Jul 9, 2010 11:46am Jul 9, 2010 11:46am
This is a chart of the short I took in EUR/USD. Also included is a picture of what I was doing instead of worrying about it...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur.png Size: 42 KB
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  • #9,639
  • Jul 9, 2010 1:06pm Jul 9, 2010 1:06pm
Nice cars! I went short eurusd this morning. I'm thinking of taking profit at 1.24 just in case, anyone else thinking that?

I added on at the top of the last 4 hour candle too, I love this aggressive add on style, if it goes wrong I'll just close out for BE or a small profit. If it goes my way I'm buying one of those cars in the pics above! (well nearly...)
Position trader - Anything intraweek is just noise...
  • #9,640
  • Jul 9, 2010 2:16pm Jul 9, 2010 2:16pm
Quoting Arfer Daily
Nice cars! I went short eurusd this morning. I'm thinking of taking profit at 1.24 just in case, anyone else thinking that?

I added on at the top of the last 4 hour candle too, I love this aggressive add on style, if it goes wrong I'll just close out for BE or a small profit. If it goes my way I'm buying one of those cars in the pics above! (well nearly...)
I didn't short this morning because I trade of off the daily chart, so I have an entry below the close of todays candle. I was actually long until this morning because I was looking for 1.2900, but it seems like it's going to turn here at 1.2700.

I am looking for at least 1.2150 as a TP.

I am wondering if this chart shows the summer range for this year.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd d.jpg Size: 159 KB
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