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  • #1,881
  • Aug 27, 2010 9:40am Aug 27, 2010 9:40am
I've been getting SLs and TPs hit all over the place this morning. lol It's looking like a trend change or range bound at the moment now on most pairs. I'll post back in a bit once I change up a few positions here.

Bernanke must have really stirred up a nest with whatever BS he was spewing today lol
I dream, therefore I become.
  • #1,882
  • Aug 27, 2010 9:42am Aug 27, 2010 9:42am
This one kicked me hard today. Initially I didn't get an entry as the price moved too quickly, when it came back to the entry, I went short.

EDIT: Just read your post above, looks like we all got busted. Part of the game right.
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  • #1,883
  • Aug 27, 2010 9:56am Aug 27, 2010 9:56am
Quoting artov
This one kicked me hard today. Initially I didn't get an entry as the price moved too quickly, when it came back to the entry, I went short.

EDIT: Just read your post above, looks like we all got busted. Part of the game right.
Yeah brother, everybody takes losses. I'm just glad that I was quick on the uptake today and cut some of them short by looking at the 5's. I'm at a loss on the day, but it's actually fairly close to even with some of them having gotten to TP before that shit-storm rolled through lol
I dream, therefore I become.
  • #1,884
  • Aug 27, 2010 4:35pm Aug 27, 2010 4:35pm
Quoting mike w
Yeah brother, everybody takes losses. I'm just glad that I was quick on the uptake today and cut some of them short by looking at the 5's. I'm at a loss on the day, but it's actually fairly close to even with some of them having gotten to TP before that shit-storm rolled through lol
Just closed a day that should have been a loss as a gain. Lesson of today, adapt to changing market conditions. If you weren't getting long on those massive one hour bars (And short on some pairs), there is something wrong there.

Have a good weekend everybody, it's time for some fun!
I dream, therefore I become.
  • #1,885
  • Aug 27, 2010 4:49pm Aug 27, 2010 4:49pm
Quoting mike w
Just closed a day that should have been a loss as a gain. Lesson of today, adapt to changing market conditions. If you weren't getting long on those massive one hour bars (And short on some pairs), there is something wrong there.

Have a good weekend everybody, it's time for some fun!
Damn, I was cleaning house and running errands. lol

I had a great month as opposed to last year when I had a loss.

Have a great weekend and drink a beer for me.
  • #1,886
  • Aug 27, 2010 4:52pm Aug 27, 2010 4:52pm
Quoting calderone
Damn, I was cleaning house and running errands. lol

I had a great month as opposed to last year when I had a loss.

Have a great weekend and drink a beer for me.
Heck yeah my man! That's always a good thing, and you know I will! haha You do the same brother!
I dream, therefore I become.
  • #1,887
  • Aug 28, 2010 2:16pm Aug 28, 2010 2:16pm
Quoting mike w
Heck yeah my man! That's always a good thing, and you know I will! haha You do the same brother!
Oh man, you should have a headache today. lol
  • #1,888
  • Aug 30, 2010 10:33am Aug 30, 2010 10:33am
Quoting calderone
Oh man, you should have a headache today. lol
I didn't even see this post haha But yeah my man, it was a tough one lol

Here's a decent looking setup on the chf/jpy at the moment.
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I dream, therefore I become.
  • #1,889
  • Edited 7:37am Aug 31, 2010 5:53am | Edited 7:37am
Hey Mike,

How are things? Took the following trade during the London Open today. BUOB with divergence on the 1H charts, drilled down to 5min charts and took the rejection bar off the 21EMA. Should have held it but took profit for 1R and missed a BUOB setup moments later. I know its a question I should answer but would you take this pullback considering the steep PA? For me it was a no brainer seeing the setup on the 1H TF. Just struggling to stack consecutive positions at present, I'll get there. Really is easy following your blueprint man.

How is the hockey going?

Hope all is well.



Steve

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Here is another taken, man these have a high probability of coming home.

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  • #1,890
  • Aug 31, 2010 12:50pm Aug 31, 2010 12:50pm
Here's a good looking Euro setup. I got taken out of that chf/jpy trade for a loss before it reverted right back to where I thought it would. Being right in this business means nothing. Making money is the only thing that matters.

Steve, sorry I didn't get back to your post earlier my man, I'll do that right quick
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I dream, therefore I become.
  • #1,891
  • Aug 31, 2010 12:53pm Aug 31, 2010 12:53pm
Quoting stevo58
Hey Mike,

How are things? Took the following trade during the London Open today. BUOB with divergence on the 1H charts, drilled down to 5min charts and took the rejection bar off the 21EMA. Should have held it but took profit for 1R and missed a BUOB setup moments later. I know its a question I should answer but would you take this pullback considering the steep PA? For me it was a no brainer seeing the setup on the 1H TF. Just struggling to stack consecutive positions at present, I'll get there. Really is easy following your blueprint man.

How...
Most definitely, I'd take those setups any day of the week. I actually wish I would have seen that hourly setup too. That's just money in the bank my man.

Hockey's great too! It's never bad brother!

What's new over your way?
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I dream, therefore I become.
  • #1,892
  • Sep 1, 2010 8:49am Sep 1, 2010 8:49am
Quoting mike w
Most definitely, I'd take those setups any day of the week. I actually wish I would have seen that hourly setup too. That's just money in the bank my man.

Hockey's great too! It's never bad brother!

What's new over your way?
Yikes, loss of 30 on that one. Nothing worthwhile on the 4's here lately or so it seems lol

Running the 5's in the meantime! I'm taking a vacation tomorrow and won't be back for 2 weeks though. (I'll definitely be back earlier, I'm a trader, it's not like I won't look for opportunities just because of a vacation)
I dream, therefore I become.
  • #1,893
  • Sep 2, 2010 5:54am Sep 2, 2010 5:54am
Quoting mike w
Most definitely, I'd take those setups any day of the week. I actually wish I would have seen that hourly setup too. That's just money in the bank my man.

Hockey's great too! It's never bad brother!

What's new over your way?
Yeah can't complain, back from holiday now. Weather is picking up in oz so cannot complain sir. Where you off on holidays? I hope you have a good time wherever you go.

Took another 5 min setup on EUR/USD, not the best looking bar, weathered some drawdown but it came home. Good thing is that I don't have to trade for the rest of the evening now though admittedly I'm looking for some good PA on the higher TFs.

Take care brother.

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  • #1,894
  • Sep 13, 2010 5:59pm Sep 13, 2010 5:59pm
Man, was that a nice vacation with no computer, no phones, no nothing. Awesome. It's over now and it's time for me to get back to the grind.

Looks like I missed a whole lot of nothing in the past 2 weeks, that's for sure. A bunch of idiots trying to cast out big Jim; they'll all be washed out in a couple years so I'll just say my goodbyes and good riddances to 'em now.

The man runs a business. How dare he run a business in a free country such as America!?! How dare he make something of himself while all of you wallow in self pity. That's capitalism bitches, get some instead of crying about not getting it. If you have a phenomenal service, never do it for free.

Aside from that, it looks like the charts were junk all around other than some of the 5 minute moves.

I'll be back tomorrow and posting if anything solid comes up! I hope everybody that I talk to has been great here and I'll be getting back to your PM's and messages as soon as I get out of the shower. It's funny how much I think about some of you guys when we aren't talking lol
I dream, therefore I become.
  • #1,895
  • Sep 13, 2010 8:10pm Sep 13, 2010 8:10pm
Quoting mike w
Man, was that a nice vacation with no computer, no phones, no nothing. Awesome. It's over now and it's time for me to get back to the grind.

Looks like I missed a whole lot of nothing in the past 2 weeks, that's for sure. A bunch of idiots trying to cast out big Jim; they'll all be washed out in a couple years so I'll just say my goodbyes and good riddances to 'em now.

The man runs a business. How dare he run a business in a free country such as America!?! How dare he make something of himself while all of you wallow in self pity. That's capitalism...
Mike, GREAT to see you back, looking forward to your posts.

When you said you would be out the week after Labor Day, I thought "why in the world would he be off this week, the markets might just take off". LOL, looks like you knew better on that one, what a crummy Labor Day Week.

I am reading "The Richest Man Who Ever Lived King Solomon's...." for the second time in a row. This book is amazing. I actually feel better just from reading the book. This is the first book I can think of, that when I read it, I actually feel better about everything in life.
  • #1,896
  • Sep 14, 2010 5:29am Sep 14, 2010 5:29am
Quoting unlv_tj
Mike, GREAT to see you back, looking forward to your posts.

When you said you would be out the week after Labor Day, I thought "why in the world would he be off this week, the markets might just take off"....
Hey UNLV!
Yeah, I've read that twice now too. I can't get enough of it. I put together my notes so that I can go back through more regularly and review/study the amazing content. He organizes the Proverbs in a way I wasn't grasping from just reading them each month (which I had done for nearly a year prior to reading the book). Thanks for that recommendation a few months back Mike. And welcome back too!
  • #1,897
  • Sep 14, 2010 6:04am Sep 14, 2010 6:04am
Hope you had a great holiday, Mike my man! As you already noted, you missed a new (and imho fruitless) witch hunt. Don't underestimate the emotional damage this Jacko has caused...

I was wondering if maybe you could help me (and perhaps other readers here as well) with something. I remember you writing somewhere (think it was in Jankone's thread, or maybe here in your journal), that with experience, you start to "know" when to take profit and when to let a trade run. Lately I've been having a few trades that were 2 to 3 R in profit, but then they retraced and never bounced back, resulting in B/E trades. Insofar as it is possible to describe "feeling" and "knowing", would you mind trying to explain how you feel/know when to take profit and when to let it run? I know my (still virtual) equity would be more up if I had consistently taken profit at 2 or 3 RR.

Anyway, good to have you back, and thanks for any input you might be able to give.
It's not about how much you make, it's about how much you don't lose.
  • #1,898
  • Sep 14, 2010 6:35am Sep 14, 2010 6:35am
Quoting Jduester
Hey UNLV!
Yeah, I've read that twice now too...
thanks Josh, TJ, Mike.
i'll check this one too.

Quoting Jduester
I have a similar story... I made enough yesterday to buy a nice car (matchbox car http://shop.mattel.com/product/index...ductId=3761495) ....
that link is broken.
is it this one?
http://shop.mattel.com/product/index...origkw=3761495

Quoting Dhb
...I remember you writing somewhere (think it was in Jankone's thread, or maybe here in your journal), that with experience, you start to "know" when to take profit and when to let a trade run...
Insofar as it is possible to describe "feeling" and "knowing", would you mind trying to explain how you feel/know when to take profit and when to let it run? ...
i believe part of it (deciding between exiting & letting trade run) is based on the higher TF. he frequently consults the higher TFs.
  • #1,899
  • Sep 14, 2010 8:10am Sep 14, 2010 8:10am
Quoting supremeChaos
thanks Josh, TJ, Mike.
i'll check this one too.


that link is broken.
is it this one?
http://shop.mattel.com/product/index...origkw=3761495
...
Yep! haha. Happy trading all! I just wasted time getting caught up on all this J16 bashing nonsense. Time for me to refocus...
  • #1,900
  • Sep 14, 2010 10:54am Sep 14, 2010 10:54am
Quoting Jduester
Hey UNLV!
Yeah, I've read that twice now too. I can't get enough of it. I put together my notes so that I can go back through more regularly and review/study the amazing content. He organizes the Proverbs in a way I wasn't grasping from just reading them each month (which I had done for nearly a year prior to reading the book). Thanks for that recommendation a few months back Mike. And welcome back too!
The Richest Man Who Ever Lived, and the book of proverbs for that matter, are simply great. Definitely read it if you haven't.

Other books that are very good and similar in nature, which I highly recommend - Think & Grow Rich and The Secret of the Ages (400pg book that is really just a collection of essays/ shorter works).
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