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  • #361,201
  • Jan 8, 2011 4:19pm Jan 8, 2011 4:19pm
Quoting cloggie
Estero makes a valid point, yes the trend is down but for those comfortable with a proper countertrend, one is due for 2 reasons, one to take some profits of the table and two to load her back up again.

My buy button works as well as my sell button. The easy money is with the trend, if you are comfortable and know how to there is nothing wrong with trading a countertrend when it arises.

I actually closed my longer term shorts last Friday, as posted here. Want to see how Monday plays out.

EDIT: It all depends on what TF you trade, plenty...
After the taps at top, yes, there were a couple of plays to the long side, and I did ride a couple of them beggers, just happened to be the trade times and triggers off the 1m and 5m charts...

Never really got confirmed on anything past a 5m chart for a good run, but agree with ya Clogs, there were a few shekles to be had for those brave enough to take.

I have a real tough time marrying a trade. Market does what it wants and when it wants, so why not capture a couple, ride out a couple and make up the difference as it presents.

My 30m chart...never even got close to a long sniff....
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #361,202
  • Jan 8, 2011 4:20pm Jan 8, 2011 4:20pm
Quoting redsword11
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #361,203
  • Jan 8, 2011 4:21pm Jan 8, 2011 4:21pm
you can bring it any pair, any tf anything tradable - eu dudes and gals



couldn't lace my shoes
  • #361,204
  • Jan 8, 2011 4:28pm Jan 8, 2011 4:28pm
Quoting redsword11
you can bring it any pair, any tf anything tradable - eu dudes and gals



couldn't lace my shoes
Funny when you start hittin' the bottle , Red "Bring it!!!!"
  • #361,205
  • Jan 8, 2011 4:29pm Jan 8, 2011 4:29pm
Quoting chazzle
Funny when you start hittin' the bottle , Red "Bring it!!!!"


love you too
  • #361,206
  • Jan 8, 2011 4:31pm Jan 8, 2011 4:31pm
Quoting Magix
Still sober, but I plan on changing that over the next couple hours...

Enjoy the rest of the weekend...
Cheers.
  • #361,207
  • Jan 8, 2011 4:35pm Jan 8, 2011 4:35pm
anyway - l am off the rails - totally fccuked on booze



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now - these dudes have the right idea - all l read here is ego BS - l have a massive ego too, you know this, if we stop the nonesense and killer trader against trader stuff in the thread - its win win
  • #361,208
  • Jan 8, 2011 4:40pm Jan 8, 2011 4:40pm
Quoting redsword11
anyway - l am off the rails - totally fccuked on booze



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now - these dudes have the right idea - all l read here is ego BS - l have a massive ego too, you know this, if we stop the nonesense and killer trader against trader stuff in the thread - its win win
Cheers for that too.
  • #361,209
  • Jan 8, 2011 5:50pm Jan 8, 2011 5:50pm
Quoting silvermike
You all probably already know this:
http://www.forexlive.com/157829/all/...vate-placement

also this:
http://www.spiegel.de/wirtschaft/soz...738457,00.html

That is interesting for the next week.

Regards
Certainly will be helpful & a positive for the euro if it's China (who else) doing the buying and the placement is substantive and likely to continue for a bit. Hmm, we'll wait for more details.. Was wondering what the fundy trigger would be besides 'oversold' that may allow the eur to bounce (a little).
  • #361,210
  • Jan 8, 2011 6:02pm Jan 8, 2011 6:02pm
Quoting Magix
There aren't a lot of brokers depending on client specific thresholds that will keep you trading beyond 10%, be it stocks or currencies.

Heavier risk accounts, I believe to trade up to 25%...but you'd be doing some serious brick shitting as a trader if your walking them lines....

Of course...this is just what I hear...

No time to chat, but lot of respect for you dude, one of my favs.
Cheers!
E
  • #361,211
  • Jan 8, 2011 9:35pm Jan 8, 2011 9:35pm
Don't you people have anything else to do? Go to bed. Comeback tomorrow when market opens.
The Thief of Wall Street
  • #361,212
  • Jan 8, 2011 9:58pm Jan 8, 2011 9:58pm
Quoting FxEpic
[color=black][font=Verdana]In the end the TF is relative, no? One man's "Position" is another man's "Scalp" (on a side note: I prefer to use "snipe" as in sniper) and since consistent success requires true mental preparedness (IMHO this should be taught before any technicals) I do not use the word "trade" because it means a give and take and I only want to take, lol, I use the term Market Opportunity (MO). Somehow waiting for a Market Opportunity is easier (read less risk) than jumping in on a "trade" just to see. A wise Market Observer...
great work
  • #361,213
  • Edited Jan 9, 2011 12:15am Jan 8, 2011 11:36pm | Edited Jan 9, 2011 12:15am
Quoting honestb
I agree, forex trading is the best short-term trading and investment. Unlikely other investments such as stock markets, real estates where people invest for 5 or 10 years but the future is uncertain.
imo 24 hrs in forex majors = a week in regular stocks...

On the flip side, the very high comparative liquidity, the very high comparative leverage available and the fast comparative price movements can easily wrong foot those who who have come from a pure stock trading background and who are not used to forex price action...
  • #361,214
  • Jan 8, 2011 11:40pm Jan 8, 2011 11:40pm
Quoting The Fool
http://www.thestreet.com/story/10943...ght-panel.html

Ron "End the Fed" Paul now heads Fed oversight subcommittee. Should be fun.
Proof (if it were needed) that RP (lovable old fella tho' he is) represents controlled opposition.

I bet he funny hand shakes with the best of 'em...
  • #361,215
  • Edited Jan 9, 2011 12:36am Jan 8, 2011 11:45pm | Edited Jan 9, 2011 12:36am
Quoting cloggie
EDIT: It all depends on what TF you trade, plenty of counters available on the sub-15
My fave playground...

Quoting Magix
I have a real tough time marrying a trade. Market does what it wants and when it wants,
For this very reason, I'd rather take profit & re-load on the retrace than watch my profits evaporate. In fact, just play both sides, dunno if that would suit many but it works for me, in, out, shake it all about, wham, bam, thankyou ma'am...

The way I see it, no one trade is gonna make or break you, I see the "drip, drip, drip of profit" approach as the way to go, you will occasionally get a gusher, but it all compounds. Gotta learn to recognise when you're wrong and nip losing trades in the bud, that's the key to it. I find that when I just cut a loser for a small loss, I can usually recover it within about 10 minutes or so...

That said, I did long G/U last year at 4240 (entry trigger was the M1 G/U futures vol, it went absolutely mental at what subsequently turned out to be the low for the year), I only rode it for 150, and I'll freely admit that I was sick as the proverbial parrot when it went to +2000 pips, but that's just one trade compared to the hundreds where I've been sat on a decent chunk of bankable profit, just to see the market take back some if not all of it...
  • #361,216
  • Jan 8, 2011 11:56pm Jan 8, 2011 11:56pm
This is my weekly view. I think the bears have made a statement with last weeks close. It seems like they want to test the 2678 area. The ball has been set in motion. Bulls would need a close above 3345 to get the momentum back. Enjoy the weekend, PTL
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Look Sharp/Trade Tight
  • #361,217
  • Jan 9, 2011 12:05am Jan 9, 2011 12:05am
Quoting FibbinArchie
Proof (if it were needed) that RP (lovable old fella tho' he is) represents controlled opposition.

I bet he funny hand shakes with the best of 'em...
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #361,218
  • Jan 9, 2011 4:43am Jan 9, 2011 4:43am
hi guys and girls. i have opened some shorts last two days aroun 1,30 of the week and i am breaking my head if i should close them tommorrow or not. I can not find any reason to close them . In the other hand i would be gutted if it start retracing and evaporate my profits. i would hate to exit this trade with a s/l. just thinking loudly
  • #361,219
  • Jan 9, 2011 5:00am Jan 9, 2011 5:00am
Quoting vapors
hi guys and girls. i have opened some shorts last two days aroun 1,30 of the week and i am breaking my head if i should close them tommorrow or not. I can not find any reason to close them . In the other hand i would be gutted if it start retracing and evaporate my profits. i would hate to exit this trade with a s/l. just thinking loudly
adapt SL , bank partial and let it run and be happy :-)
Hero calls followed by margin calls...
  • #361,220
  • Jan 9, 2011 5:08am Jan 9, 2011 5:08am
Thank PhAnTi'. the thing is that i have a small position and because of that i have to pay comission to either open or close it (you see i have recently started trading and i am very hesitant in the begining). As a result i cannot afford to do what you said. I guess i would wait until the markets open to see how it will go and i would just low my s/l to breakeven and what done is done .Thaanks again for the advice though. it would be ideally if i had a bigger position
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