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Islander and Medici trade the European open

  • #1,861
  • Aug 11, 2010 1:29am Aug 11, 2010 1:29am
Quoting Islander
LOL - I see a 5m UH vol spinning top as the low which suggests some profit taking / support around the 75 level, so I've banked and am looking for a mid FH bounce....
Me too...spit out that pill...
  • #1,862
  • Aug 11, 2010 1:31am Aug 11, 2010 1:31am
You crazy touch traders how can I keep up! Just 2 sells on euro so far.. FO was niiice
  • #1,863
  • Edited 1:59am Aug 11, 2010 1:46am | Edited 1:59am
Euro missed my limit sell by a pip, so I sold manually - but lower.

Both € and cable held at their respective falling 1m 30 emas.....

Cable's bounce was less than I expected and half €s
Trading Levels with WRBs
  • #1,864
  • Aug 11, 2010 2:11am Aug 11, 2010 2:11am
Bullish divergence on CII and with that UHV selling climax earlier it looks like a decent bounce is coming......just as I have to go out for the day....BFN
Trading Levels with WRBs
  • #1,865
  • Aug 11, 2010 2:14am Aug 11, 2010 2:14am
Quoting Sim
You crazy touch traders how can I keep up! Just 2 sells on euro so far.. FO was niiice
Never thought of it that way...
  • #1,866
  • Aug 11, 2010 2:18am Aug 11, 2010 2:18am
Quoting Islander
Bullish divergence on CII and with that UHV selling climax earlier it looks like a decent bounce is coming......just as I have to go out for the day....BFN
Good that we are evaluating CII in action. Seems better and better day by day.

Have a good day, and see you tomorrow!
  • #1,867
  • Aug 11, 2010 2:37am Aug 11, 2010 2:37am
I bought the pull-back to 5775. Out at 5800.
  • #1,868
  • Aug 11, 2010 2:56am Aug 11, 2010 2:56am
Quoting Sim
You crazy touch traders how can I keep up! Just 2 sells on euro so far.. FO was niiice
Been thinking a bit more about this. Take a look at the first minute or so of this video:

Inserted Video


The point that Schlossberg is making, that something all the traders interviewed had in common was a strong interest in sports, is of relevance I think.

So what is the point? To me it is that trading is more akin to a sport or a performance art than it is to an analytical pursuit.

Certainly, you need to do your analysis, but in making trading decisions analysis never helps, because you can never know if this trade is going to make it or not - you just have to trust your gut and go for it.

So it may have benefitted me that I've skied in places like this

http://www.google.co.uk/search?aq=f&...F-8&q=trifides

...and still do , and that I enjoy scaling mountain faces, go to the gym six time a week, etc.

And that may also explain why I trade the way I do.
  • #1,869
  • Aug 11, 2010 3:15am Aug 11, 2010 3:15am
Quoting Sim
You crazy touch traders how can I keep up! Just 2 sells on euro so far.. FO was niiice
Haha Sim, I know what you mean, I can barely keep up with the posts let alone the trades.

Nice trades all, I have added the C11 indi Medici, it looks very interesting, thanks.
  • #1,870
  • Aug 11, 2010 3:21am Aug 11, 2010 3:21am
Quoting jag1966
Nice trades all, I have added the C11 indi Medici, it looks very interesting, thanks.
Thank you, and you're welcome
  • #1,871
  • Aug 11, 2010 3:23am Aug 11, 2010 3:23am
So far this week Euro sell-offs have started at 10am. Let's see what today brings. Not unlikely same player is off-loading a bit more by the same means.
  • #1,872
  • Aug 11, 2010 4:29am Aug 11, 2010 4:29am
Quoting medici
So far this week Euro sell-offs have started at 10am. Let's see what today brings. Not unlikely same player is off-loading a bit more by the same means.
Told you...
  • #1,873
  • Aug 11, 2010 6:49am Aug 11, 2010 6:49am
Good insight there! Never noticed the 10am thing

Aww man don't get me started on trading being a performance art.. DEFINITELY

and that's why I love it.. and I think without my passion for basketball I may not have been determined or learned the qualities of patience and discipline enough to even begin to attempt conquering the intraday

I don't see how people can say it's a science, simply because there is little or no consistency you can apply to mass psychology, at least enough to gain a trading 'edge' so to speak. And exactly, there is no sure thing in trading, just the skill of achieving consistency...

Wow you ski.. makes me feel cold thinking about it! hehe, and gym 6x a week??? Beast!! Come to the training and trading thread haha
  • #1,874
  • Aug 11, 2010 6:50am Aug 11, 2010 6:50am
Quoting jag1966
Haha Sim, I know what you mean, I can barely keep up with the posts let alone the trades.

Nice trades all, I have added the C11 indi Medici, it looks very interesting, thanks.
Hehe yep,, 'swoosh' over my head
  • #1,875
  • Aug 11, 2010 10:08am Aug 11, 2010 10:08am
Damn why EU been tanking all day?

Got my last piece I think so I'm done. Well played all
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  • #1,876
  • Edited 3:41pm Aug 11, 2010 3:00pm | Edited 3:41pm
Quoting Sim
Damn why EU been tanking all day?

Got my last piece I think so I'm done. Well played all
Well done Not a day for bottom picking.

My answer as to why is simply - look at the charts H4 and D1. Clear CI divergence on both at the NFP peak, not to mention having covered more than 38.2% retracement of the down-trend without a pause.

EDIT: And then there's the fundamental scenario with both NFP and Fed saying that the recovery may falter. So a change in risk sentiment. It might get ugly in the equity markets this autumn, and the dollar is likely to strengthen as risk aversion increases.
  • #1,877
  • Aug 11, 2010 6:01pm Aug 11, 2010 6:01pm
Hi,

Glad to see a bit of life on this thread again

I thought the flight to safety of the USD ?? was because of the slow down in the Chinese economy.

They have been trying to burst the inflation bubble within China, rather tricky thing to gauge, most of the news from there yesterday was bearish and now the sky is falling, again
Money grows on the tree of persistence
  • #1,878
  • Aug 12, 2010 12:54am Aug 12, 2010 12:54am
Quoting medici
So far this week Euro sell-offs have started at 10am. Let's see what today brings. Not unlikely same player is off-loading a bit more by the same means.

Interesting......as were your comments on sports.....I used to climb and later played a lot of squash, I also did a fair bit of regatta sailing and loads of other water sports. Now I rely on a cross trainer.
Trading Levels with WRBs
  • #1,879
  • Aug 12, 2010 12:59am Aug 12, 2010 12:59am
I bought both € and cable after the HL around 6am UK.

For targets, I pulled fibs over the last parts of yesterdays fall - that was a biggy in €. The 38% in € is ~2922 and cable has its 50% at 5718 with its DP at 5715, so my TPs will be just under these levels
Trading Levels with WRBs
  • #1,880
  • Aug 12, 2010 1:15am Aug 12, 2010 1:15am
GM - short off the 7.05 lower high...TWT
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