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Silent Service Method

  • #9,901
  • Jul 22, 2010 12:16am Jul 22, 2010 12:16am
Quoting clockwork71
Still is a short. I will go long at 1.12
Sure man, that is a big statement though "i will go long at 1.12"
Keep your mind open.
Biggest joker
  • #9,902
  • Jul 22, 2010 2:26am Jul 22, 2010 2:26am
Lets see if this beast has one more little short around here or just a bit higher, before the.....
Biggest joker
  • #9,903
  • Jul 22, 2010 3:37am Jul 22, 2010 3:37am
Quoting clockwork71
When we start trading, we do it based on some idea of what is possible. Normally we see some ad that has a rich-looking person standing next to their Lear jet or something like that. Of course that can be us, all we have to do is make a shitload of cash buying the Euro! (That's what we think at first.) We are going to make a ton of money, because trading is so damn easy. I mean come on! What's harder work? Climbing a ladder to paint a house, or pushing buttons on this ATM we call a computer???

Well, it doesn't really work like that does...
Why spent 16 hours a day day trading when 3-4 hours will do, trading right down to the 1 min chart, if need be!
It certainly is a lot easier than climbing ladders all day long!
I'll leave you in peace, you seem a nice enough guy, and your method is very robust, but remember, keep an open mind, cheers.
Biggest joker
  • #9,904
  • Jul 22, 2010 4:13am Jul 22, 2010 4:13am
Quoting baron193
Why spent 16 hours a day day trading when 3-4 hours will do, trading right down to the 1 min chart, if need be!
It certainly is a lot easier than climbing ladders all day long!
I'll leave you in peace, you seem a nice enough guy, and your method is very robust, but remember, keep an open mind, cheers.
I'm sure Chris will be grateful for your advice
Position trader - Anything intraweek is just noise...
  • #9,905
  • Jul 22, 2010 4:55am Jul 22, 2010 4:55am
CW,

I'm short it too just above 1.30. Race you down!
  • #9,906
  • Jul 22, 2010 5:07am Jul 22, 2010 5:07am
Quoting baron193
Why spent 16 hours a day day trading when 3-4 hours will do, trading right down to the 1 min chart, if need be!
It certainly is a lot easier than climbing ladders all day long!
I'll leave you in peace, you seem a nice enough guy, and your method is very robust, but remember, keep an open mind, cheers.
Baron,

You're missing the point that Chris(and others - Strat for instance) are trying to get across.

The most successful traders on here only trade the dailies or weeklies - this lets them do whats important in life.

Trading is a only a means to an end.

The objective is as Chris says, the freedom to do what we want.

If ur trading 1 min charts you ain't free you are a slave to the one eyed monster.

Take my trading for instance - I placed my last new trade in early June - Short USDCHF.

I'm still in it and been adding ever since and during that time I've been on holiday and moved house.
  • #9,907
  • Jul 22, 2010 5:33am Jul 22, 2010 5:33am
Quoting stewrigh
Baron,

You're missing the point that Chris(and others - Strat for instance) are trying to get across.

The most successful traders on here only trade the dailies or weeklies - this lets them do whats important in life.

Trading is a only a means to an end.

The objective is as Chris says, the freedom to do what we want.

If ur trading 1 min charts you ain't free you are a slave to the one eyed monster.

Take my trading for instance - I placed my last new trade in early June - Short USDCHF.

I'm still in it and been adding ever since and...
Yeah sure no problem, i don't have an issue with long term trading.
I'm trying to also have longer term trades myself, it is possible to have longer term trades running as well as trading the shorter term swings.
If it works for you, fine, just don't tell me that daytrading is a slave job.
There's a huge difference between 3-4 hours (not 15 hours) of being stuck on the screens and NOT working on the tools AND getting a great return (yes it is possible), and spending 8-10 hours working on the tools and using currency trading as an investing tool with the associated returns.
No bone to pick, but i am setting some things right.
Biggest joker
  • #9,908
  • Jul 22, 2010 5:55am Jul 22, 2010 5:55am
Quoting baron193
Yeah sure no problem, i don't have an issue with long term trading.
I'm trying to also have longer term trades myself, it is possible to have longer term trades running as well as trading the shorter term swings.
If it works for you, fine, just don't tell me that daytrading is a slave job.
There's a huge difference between 3-4 hours (not 15 hours) of being stuck on the screens and NOT working on the tools AND getting a great return (yes it is possible), and spending 8-10 hours working on the tools and using currency trading as an investing tool...
shorter term swings? you get whipsawed by major movements. period.
  • #9,909
  • Jul 22, 2010 9:04am Jul 22, 2010 9:04am
Quoting baron193
Sure man, that is a big statement though "i will go long at 1.12"
Keep your mind open.
Just simple technical analysis.
  • #9,910
  • Jul 22, 2010 9:06am Jul 22, 2010 9:06am
Quoting stewrigh
Baron,

You're missing the point that Chris(and others - Strat for instance) are trying to get across.

The most successful traders on here only trade the dailies or weeklies - this lets them do whats important in life.

Trading is a only a means to an end.

The objective is as Chris says, the freedom to do what we want.

If ur trading 1 min charts you ain't free you are a slave to the one eyed monster.

Take my trading for instance - I placed my last new trade in early June - Short USDCHF.

I'm still in it and been adding ever since and...
You need to slow down - you are over trading. lol
  • #9,911
  • Jul 22, 2010 9:08am Jul 22, 2010 9:08am
Quoting baron193
Yeah sure no problem, i don't have an issue with long term trading.
I'm trying to also have longer term trades myself, it is possible to have longer term trades running as well as trading the shorter term swings.
If it works for you, fine, just don't tell me that daytrading is a slave job.
There's a huge difference between 3-4 hours (not 15 hours) of being stuck on the screens and NOT working on the tools AND getting a great return (yes it is possible), and spending 8-10 hours working on the tools and using currency trading as an investing tool...
The point is, this is not a scalping thread, so I don't understand the point here. There are shorter term threads out there, so I guess I am confused as to why the discussion.

Can people make money trading short term? Yes.

Can they have a life and do it all day? No.

I used to scalp, and found it's a lot of noise for my liking. No more, no less.
  • #9,912
  • Jul 22, 2010 9:13am Jul 22, 2010 9:13am
Here's a chart I am fiddling around with.
Attached Image (click to enlarge)
Click to Enlarge Name: dow.png Size: 123 KB
  • #9,913
  • Jul 22, 2010 10:38am Jul 22, 2010 10:38am
Quoting stewrigh
Baron,

You're missing the point that Chris(and others - Strat for instance) are trying to get across.

The most successful traders on here only trade the dailies or weeklies - this lets them do whats important in life.

Trading is a only a means to an end.

The objective is as Chris says, the freedom to do what we want.

If ur trading 1 min charts you ain't free you are a slave to the one eyed monster.

Take my trading for instance - I placed my last new trade in early June - Short USDCHF.

I'm still in it and been adding ever since and...
  • #9,914
  • Edited 11:48am Jul 22, 2010 10:40am | Edited 11:48am
Quoting clockwork71
You need to slow down - you are over trading. lol
Nah, my trading is already boring enough, if I slow down anymore it'd be catatonic.
  • #9,915
  • Jul 22, 2010 11:55am Jul 22, 2010 11:55am
Today bumped me out of every position I had based on ops I had identified at the beginning of the week.

All I can say is....ouch.

Before anybody gets on me, I have my risk management in place, it just sucks to be 100% wrong.

I guess the market knew I was getting a little full of myself.
  • #9,916
  • Jul 22, 2010 12:00pm Jul 22, 2010 12:00pm
Been messing with a market news page on the blog.....Dukascopy has a really cool TV widget now, that I added to this page.
  • #9,917
  • Jul 22, 2010 12:02pm Jul 22, 2010 12:02pm
Quoting Low
Today bumped me out of every position I had based on ops I had identified at the beginning of the week.

All I can say is....ouch.

Before anybody gets on me, I have my risk management in place, it just sucks to be 100% wrong.

I guess the market knew I was getting a little full of myself.

It has more to do with the market not knowing what in the hell it wants I think. Volatile to say the least. Bernanke talking has really scared people, and then been ignored right away.

These types of markets tend to happen before huge moves.

It is worth noting that EUR/USD couldn't hold above 1.29. (so far.)
  • #9,918
  • Jul 22, 2010 2:41pm Jul 22, 2010 2:41pm
Quoting Low
Today bumped me out of every position I had based on ops I had identified at the beginning of the week.

All I can say is....ouch.

Before anybody gets on me, I have my risk management in place, it just sucks to be 100% wrong.

I guess the market knew I was getting a little full of myself.
I guess your nzd position was smashed? I'm still in, just underwater. lol
  • #9,919
  • Jul 22, 2010 2:48pm Jul 22, 2010 2:48pm
Quoting calderone
I guess your nzd position was smashed? I'm still in, just underwater. lol
I decided to allocate 2% to the kiwi, the first 1% is underwater like yours, the second got stopped out overnight, as I was trying to keep the risk low and short at a better price with a smaller SL if the opportunity came up.

I'd like to short it again, but I will wait and see if the first one gets into profit or goes the way of the dodo.
  • #9,920
  • Jul 22, 2010 2:52pm Jul 22, 2010 2:52pm
Quoting Low
I decided to allocate 2% to the kiwi, the first 1% is underwater like yours, the second got stopped out overnight, as I was trying to keep the risk low and short at a better price with a smaller SL if the opportunity came up.

I'd like to short it again, but I will wait and see if the first one gets into profit or goes the way of the dodo.
Well, hang in there. I haven't seen anything that makes sense lately. lol
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