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  • #405,341
  • Mar 11, 2011 11:30am Mar 11, 2011 11:30am
I knew that I should not trade on Friday
for a reason ... dammit ....
Now taking some loss....
Lesson never learned ..
  • #405,342
  • Mar 11, 2011 11:31am Mar 11, 2011 11:31am
Quoting Venice
Yup. We go long until we go short. Not a moment before. Just glancing over the charts, the last opportunity for a decent short after the DPP bounce last night, was the break of 3790. After that play, it's been long ever since.

That's why I closed my trades there yesterday, there were plenty of technical reasons for a bounce there, it just became a lot bigger due to an act of God.
  • #405,343
  • Mar 11, 2011 11:32am Mar 11, 2011 11:32am
The Only thing i don't understand
is why AUD/USD moving up much more than EUR/USD..??
I'm waiting for a retrace about 1.01 to get off to take
couple of pips loss

The only things that saving me from big loss today...
Its ... i trade in 1/10th size of regular day ...
  • #405,344
  • Mar 11, 2011 11:32am Mar 11, 2011 11:32am
Yen might be rising but the Nikkei closed on its low of the day, week and 5 week low.

Meanwhile yen is giving back some of what it gained earlier today.
  • #405,345
  • Mar 11, 2011 11:32am Mar 11, 2011 11:32am
Quoting aarontdang
I knew that I should not trade on Friday
for a reason ... dammit ....
Now taking some loss....
Lesson never learned ..

Nothing to do with Friday, don't beat yourself up. If you are not good in Fundie trades, then don't trade when new like this hits the markets. Do you trade the NFP comfortably? If not, then stay away from disasters like this too.
  • #405,346
  • Mar 11, 2011 11:34am Mar 11, 2011 11:34am
Quoting cloggie
That's why I closed my trades there yesterday, there were plenty of technical reasons for a bounce there, it just became a lot bigger due to an act of God.
Yea, gotta learn to be more careful with disasters and news... I dropped too many pips today so I'm done... no harm no foul for my account though.
  • #405,347
  • Mar 11, 2011 11:34am Mar 11, 2011 11:34am
Quoting SunTrader
Yen might be rising but the Nikkei closed on its low of the day, week and 5 week low.

Meanwhile yen is giving back some of what it gained earlier today.

Quoting cloggie
Right now the Nikei futures are dropping, Japan sovereign debt is going up, Yen is being repatriated, the US is the most affected, due to carry trade so Yen up, dollar down, just follow the herd.

..
  • #405,348
  • Mar 11, 2011 11:34am Mar 11, 2011 11:34am
Quoting cloggie
I closed my longer term trade yesterday at 3790 for a reason and fully expected a bit of a bounce, technically we were due for one, apoplogies to the casualties in Japan, but the quake just exaggerated the correction and the fundies and techs been pulling in the same direction all day long.

Days like this are the easiest to trade, everybody and his brother is in the same d@rn trade, just follow the crowd.
Yeap the move in the morning closed the the weekly range very early as expected. Nice and clean move up. To be honest I didn't expect such a clean move up late on Friday but as you said there was a little bit of overeaction on the pair on Japan news.

To be completely honest, shorts haven't look that good since a long time. It looks even better than the pullback from 1.4x early this week. If it wasn't Friday and without the one too many beers I already have I will be looking for a decent size position on shorts...well surely we can wait until monday...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #405,349
  • Mar 11, 2011 11:35am Mar 11, 2011 11:35am
Quoting cloggie
Nothing to do with Friday, don't beat yourself up. If you are not good in Fundie trades, then don't trade when new like this hits the markets. Do you trade the NFP comfortably? If not, then stay away from disasters like this too.

I guess you're right .....
Damn I was up + 480 PIPS for the week ...
I guess i'll be giving 100 PIPS back today ...
Just waiting for retrace to take the loss
  • #405,350
  • Mar 11, 2011 11:35am Mar 11, 2011 11:35am
Quoting fldash
Yea, gotta learn to be more careful with disasters and news... I dropped too many pips today so I'm done... no harm no foul for my account though.

Lesson learned, if you are not a Fundie trader, stay out. You will just be questioning yourself all day long and it is not good for your confidence either.
  • #405,351
  • Mar 11, 2011 11:35am Mar 11, 2011 11:35am
Barack Obama:

In an econony that relies on OIL, Gas prices affect everyone.


They should add Barack Obama speech to the forex factory calendar.

He's talking about economy.
The Black Swan: The Impact of the Highly Improbable
  • #405,352
  • Mar 11, 2011 11:37am Mar 11, 2011 11:37am
Quoting MapleLeaf
Barack Obama:

In an econony that relies on OIL, Gas prices affect everyone.


They should add Barack Obama speech to the forex factory calendar.

He's talking about economy.
Yah, but like everything else he says it is just a load of hot air...
  • #405,353
  • Mar 11, 2011 11:38am Mar 11, 2011 11:38am
Obama is talking about WARREN BUFFET.

Funny.
The Black Swan: The Impact of the Highly Improbable
  • #405,354
  • Mar 11, 2011 11:39am Mar 11, 2011 11:39am
Quoting cloggie
Lesson learned, if you are not a Fundie trader, stay out. You will just be questioning yourself all day long and it is not good for your confidence either.
The only thing I am having a hard time understanding, a lot of people are saying the fundies got them today... Fundies whether expected or out of disaster still produce technicals on the chart. Your entries and exits still are in play and are being created as we go.

These statements would make a lot more sense for those who are on the daily chart. Even then, for those that have shorts built here it's just a hiccup. We'll be back soon enough.

Let the fundie's drive this thing where ever it wants, i'll gladly slit her neck open regardless of what is going on!!
  • #405,355
  • Mar 11, 2011 11:40am Mar 11, 2011 11:40am
omg - e/u went trought 1.385 like it wouldn't exist...
Pecunia non olet
  • #405,356
  • Mar 11, 2011 11:41am Mar 11, 2011 11:41am
Quoting cloggie
The "funny" bit in all of this is that the Yen is a safe haven currency as it is so predictable, loads of algos will be taking flight to it, that exaggerates the fundie and techie trigger, that's why we see such a drop today.
Im averaging into yen buy positions now
  • #405,357
  • Mar 11, 2011 11:42am Mar 11, 2011 11:42am
Quoting Venice
The only thing I am having a hard time understanding, a lot of people are saying the fundies got them today... Fundies whether expected or out of disaster still produce technicals on the chart. Your entries and exists still are in play and are being created as we go.

These statements would make a lot more sense for those who are on the daily chart. Even then, for those that have shorts built here it's just a hiccup. We'll be back soon enough.

Let the fundie's drive this thing where ever it wants, i'll gladly slit her neck open regardless of what...

When the fundies and techs agree, you get your largest, smoothest moves with little retraces to counter. That is what is catching the "newer" traders out as on a pure technical day they get away with countering the retraces, on a fundie day, they get killed.
  • #405,358
  • Mar 11, 2011 11:43am Mar 11, 2011 11:43am
Quoting sisse
one too many beers
sisse

only got a couple in myself, before the wife dragged me out of the bar...., damn those wives, nothing but trouble I tell you...
Look Sharp/Trade Tight
  • #405,359
  • Mar 11, 2011 11:43am Mar 11, 2011 11:43am
Quoting Venice
The only thing I am having a hard time understanding, a lot of people are saying the fundies got them today... Fundies whether expected or out of disaster still produce technicals on the chart. Your entries and exists still are in play and are being created as we go.

These statements would make a lot more sense for those who are on the daily chart. Even then, for those that have shorts built here it's just a hiccup. We'll be back soon enough.

Let the fundie's drive this thing where ever it wants, i'll gladly slit her neck open regardless of...
with that, you need to understand liquidity & what a thin market is ... little bit of choppiness today.

go through here if you haven't done so ...

and get this book to start with ...

http://www.amazon.com/Technical-Anal...9865382&sr=8-1
  • #405,360
  • Mar 11, 2011 11:46am Mar 11, 2011 11:46am
Quoting aarontdang
Next time when there's a quake ...
I'm gonna buy XAU/USD ... (Gold Baby) ....
Are you sure?

check your chart again.
Since the quake gold went first DOWN 75p and then up 75p
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