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  • #423,501
  • Apr 18, 2011 2:41pm Apr 18, 2011 2:41pm
pretty exiting day.

full of challenges for me. but i'm happy things turned out the way they did.

as i failed to adapt to a dropping euro, mainly due to time zones, i was to sleepy to care (should not have been trading)

but the euro went more than 120 pips against my position,
i saw it drop and drop and i was completely underwater.


i took the punches and looked for a way to wiggle out of my position. i kept my cool and hedge on the pound, i averaged down and rescued.

and right now im only $13.00 dollars underwater.

this comes to reafirm me that the money management that is taught every where is flawed.

its not about how much are we willing to lose on a trade
but how we troubleshoot when we are close to shitting our pants

balls of steel and cool head
AVT INVENIAM VIAM AVT FACIAM
  • #423,502
  • Apr 18, 2011 2:44pm Apr 18, 2011 2:44pm
Quoting the redlion
pretty exiting day.

full of challenges for me. but i'm happy things turned out the way they did.

as i failed to adapt to a dropping euro, mainly due to time zones, i was to sleepy to care (should not have been trading)

but the euro went more than 120 pips against my position,
i saw it drop and drop and i was completely underwater.


i took the punches and looked for a way to wiggle out of my position. i kept my cool and hedge on the pound, i averaged down and rescued.

and right now im only $13.00 dollars underwater.

this comes to reafirm...

A bit self dillussional there red lion. Any proper trader would have accepted his error and would have ended the day up 200 pips. Stop lying to yourself, admit you fecked up and next time learn to trade properly and you would be a couple hundred in the green instead of gloating over you feck up.

It takes no balls to hold a trade, it takes balls to admit your error and adjust your trading accordingly. Not admitting your mistakes just means you are weak and immature in your trading.

Carrying a trade 120 pips in the red on a day like today just shows you are clueless. But heh, I could not give a toss. Your feck ups have no bearing on my account balance.
  • #423,503
  • Apr 18, 2011 2:48pm Apr 18, 2011 2:48pm
i beg to differ.

the market will always have opportunities to make some pips.

last weak alone i banked 70% profit on my account.

i actually like this, im going to start getting my self in messes on purpose

i want to learn to troubleshoot, my f*ck ups, i dont want the market to take any pips

what more confidence infallible money management than knowing you could get back to break even even after a horrible trading judgement
AVT INVENIAM VIAM AVT FACIAM
  • #423,504
  • Apr 18, 2011 2:49pm Apr 18, 2011 2:49pm
One more addition to the muppet list.

And on that note, y'all have a good evening.
  • #423,505
  • Apr 18, 2011 2:53pm Apr 18, 2011 2:53pm
Quoting vanyxster
wow ........... haven't seen p&f for awhile nice one
Best wishes mate !
  • #423,506
  • Apr 18, 2011 2:54pm Apr 18, 2011 2:54pm
Ok now its official.. all important indexes made a LL with the down move today. I was looking at 9415 april 7th on Nikkei so should open some doors to volatility.
  • #423,507
  • Apr 18, 2011 2:59pm Apr 18, 2011 2:59pm
Looking at M15 on the last 2 days, the parabol looks to be getting steeper.
But also there's light pullback, so i'm looking at 4270 or even 4328 as a midpoint before continuation south.

Let's see what asia picks out of the hat.
  • #423,508
  • Apr 18, 2011 3:08pm Apr 18, 2011 3:08pm
Quoting sisse
I hope trading is going good. Just a quick comment on your last post.

You are generalizing mate and it will depend on one perspective. A fundie trigger, triggered your TA today in the first place!!! ... but I agree that it is irrelevant most of the time if you are intraday trading below H4 as you clearly and successfully have been posting today.

Your approach is 100% valid and you don't need a fundie trigger, but there are a lot more traders around including me that also play with longer swings and FA plays (btw, lately has been almost impossible...
Personally I dont believe That experienced traders refuse to believe fundies drive price ,What do they think affects the charts ,its not a computer genrated game .

Extremely simple play ,and so obvious,

Downgrade view on america sovereign turns to negative from stable.
Seriously traders dont see that little announcement had any affect on todays action.
If they dont get there act together we are gonna downgrade your arse .
people trading the US market pull out of trades and are in cash=dollar.

Result= more own dollar =value of dollar is pushed up till traders put it into something else .

Priority today for them just get out and see what happens .

As soon as they feel comfortable they will put the currency they hold into something else such as commodities.

Dont take it as trend changing .50% of the move will have been stops getting triggered.
great day to clear the weak bulls.

but if they got any sense they wont hold dollar for long when every currency available pays more .Buying anything physical will have better returns than dollar or any currency come to that.
making green pips large and red pips small this is my goal.
  • #423,509
  • Apr 18, 2011 3:19pm Apr 18, 2011 3:19pm
It looks like the EUR/USD broke through the upwards trend line at around 1.4300 and found some resistance at Support 3 of a the daily pivot points.

Im holding and debating whether to purchase on the bounce of the Support line or wait and see if the trend is changing or this was simply a correction.

Your opinions?
  • #423,510
  • Apr 18, 2011 3:35pm Apr 18, 2011 3:35pm
Quoting sidhujag
.. all important indexes made a LL with the down move today...
It's a start is all it is to me. So unless there is significant follow through meaningless in the grand scheme of things.
  • #423,511
  • Apr 18, 2011 3:41pm Apr 18, 2011 3:41pm
hard to say actually

the s&p downgrading the US was a shock through the markets.
more investors staying in cash which explains the dollar strength however.

the FED will continue on the same course, no tightening of monetary policy as of yet. which means the dollar will probably continue on its path,
the deficit, the government debt, the slow recovery all point to dollar weakness

now that said the world is not in a better position, china with inflation, canada rumbling about strong loonie is bad for economy

the euro is just as bad or worse off than the US
portugals bail out might be jeoperdized by the Finns
Greece is having a tough time accepting austerity measures and rumors of debt restructuring plumeted the euro.
however interest rates and tighter monetary policy is expected from ECB which leads me to think that portugal, ireland and greece might default as interest rates are raised.

from sh@tty USA to full of sh&t EUROPE. its a matter of whose sh*t will hit the fan first i suppose.

im looking to put my money more on the franc or aussy.

i still think we are bullish on euro. i mean
from a toilet paper money with 1% interest rate like the dollar
to a toilet paper with 1.25 and possibly 1.5o-1.75% the euro.

its hard to say. so far i will
1 stay awake or actively manage my position
2 go with the flow and stop thinking ahead. keep in mind we went from 1.45 to 1.41562,

be ready to look at a correlating pair to get you out of trouble in case youre wrong.

gold 1490's but oil went down it seems like there is no clear path the only thing clear is that the euro corrected whether is corrected or correcting only price will tell
AVT INVENIAM VIAM AVT FACIAM
  • #423,512
  • Apr 18, 2011 3:47pm Apr 18, 2011 3:47pm
Quoting Crankshot17
It looks like the EUR/USD broke through the upwards trend line at around 1.4300 and found some resistance at Support 3 of a the daily pivot points.

Im holding and debating whether to purchase on the bounce of the Support line or wait and see if the trend is changing or this was simply a correction.

Your opinions?
The pair did not break "THE" trend line yet. So before this trend line gives up the trend is technically down
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  • #423,513
  • Apr 18, 2011 3:54pm Apr 18, 2011 3:54pm
Quoting the redlion



from sh@tty USA to full of sh&t EUROPE. its a matter of whose sh*t will hit the fan first i suppose.


right on
  • #423,514
  • Apr 18, 2011 4:02pm Apr 18, 2011 4:02pm
New 8h candle opened under bollinger band bottom, which is currently at 1.4256
  • #423,515
  • Apr 18, 2011 4:15pm Apr 18, 2011 4:15pm
I'm off to sleep.

Be back in 8 hours.

Good night to all - have a gr8 trading session - green pips to all.
  • #423,516
  • Apr 18, 2011 4:24pm Apr 18, 2011 4:24pm
just nibbled a little on a short at 4233. 4266, 76 is still in play. 00est close below 4310 is a big breakout on the daily. larger tf closes below 4221.9.. as cloggy said is also more bear momentum. bigger ones are in earlier post. 8h and below have all broken to the bear side. next is close below 4310 00 est..it looks promising atm.. 6.5 h to go
those who can, do. those who cant, talk about those who can
  • #423,517
  • Apr 18, 2011 4:25pm Apr 18, 2011 4:25pm
finally the market is recognising that a haircut of greek bonds is inevitable
Pecunia non olet
  • #423,518
  • Apr 18, 2011 4:26pm Apr 18, 2011 4:26pm
Quoting wm-eu
finally the market is recognising that a haircut of greek bonds is inevitable
but they needed a really long time for recognising that
Pecunia non olet
  • #423,519
  • Apr 18, 2011 4:28pm Apr 18, 2011 4:28pm
If we go UP now ?

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  • #423,520
  • Apr 18, 2011 4:38pm Apr 18, 2011 4:38pm
Still no bulls?

Thought a couple of my orders would have been tripped while I was out. Still one short floating along.

Had a very good night la$t night...and again thi$ morning. Will be playing reduced risk for rest of the week...give nothing back!
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