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Rufus

  • #1,501
  • Apr 28, 2011 11:04pm Apr 28, 2011 11:04pm
I was thinking more along the lines of a custom, twin supercharged f150 velciraptor. Someday but.....not today...or tommorow...or..

Inserted Video


Quoting Rufus
We do make some nice muscle cars

Maybe I will get a Camaro and a Challenger with my first million.


Probably a pick-up

You are thinking anyway....so.....think big
Annoying Precision
  • #1,502
  • Edited 12:34pm Apr 29, 2011 12:20pm | Edited 12:34pm
April 24 - 30 2011

This was a great week for me, both in profitability and learning. I had 3 loosing positions, one of which I posted on the trading journal which hit target 1 and reversed to my stop loss. The other two were stupid trades on my part and I elected not to post them. I like to keep things on either a positive or learning side of things and these two were neither. Eliminate the stupid and I would have kicked the market’s ass big time.
　
So these two positions I will write about now. What I learned for them and how it effects my trading in the future.

Most of my trading is done on the 15 and 5m charts. But I am fully aware of all S/R on the higher time frames. The mistake I made on these two positions was anticipating a move and putting on a position without letting it happen.

I like to compare trading on the 5m chart to standing at bat against Randy Johnson a former Major League pitcher. I have never had to face a 100+ mile per hour pitch, but I have hit 80+ mph. If you make a conscious decision that you are going to swing at the next pitch it is next to impossible to stop the swing when the pitch is thrown no matter how good or bad the pitch is. The same is true if you start watching every tick on the chart and become fixated on the tick and not the bigger picture. I did not let the market throw the pitch so to speak. I saw the slightest movement out of the “Zone” and jumped on it. I was right in what I wanted to do but it was a pitch in the dirt. I only needed to wait until the next pitch.

Incidentally Randy Johnson is 6’-10” tall and is #2 on the all time strike out list behind Nolan Ryan. The “Big Unit” 6’-10” tall standing on a 10” mound ,100+ mph and he is throwing “Mr. Snappy“….. So you need to be ready for the pitch, but you need to let it be thrown before you can take a position.

Trade safe all and have a super weekend.

Rufus
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,503
  • May 1, 2011 10:42pm May 1, 2011 10:42pm
hello Rufus, how are you,?
I miss you, sorry, I do not reply to PM from you, I apologize once
only an analysis, and I'm always wrong, don't follow me,
  • #1,504
  • May 1, 2011 10:54pm May 1, 2011 10:54pm
Is everything well with you and your family? I was concerned when I heard a tsunami hit Indonesia.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,505
  • May 2, 2011 2:26am May 2, 2011 2:26am
EU short with London...Target 1 off. Stops at BE
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,506
  • May 2, 2011 2:48am May 2, 2011 2:48am
Quoting Rufus
EU short with London...Target 1 off. Stops at BE
Just realized that I am dealing with a bank holiday...Oh well....some profit taken. I will use this opportunity to get some sleep. Maybe I should have been a banker.....Naaaa. I will stick with being a trader and take the money from the bankers.

So stops in place let it cook
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,507
  • May 2, 2011 8:16pm May 2, 2011 8:16pm
Quoting Rufus
Is everything well with you and your family? I was concerned when I heard a tsunami hit Indonesia.
Thank you for your attention Rufus,,
I'm here all right,

This month I will start trading again, I would often visit the Rufus Journal,
only an analysis, and I'm always wrong, don't follow me,
  • #1,508
  • Edited 3:11am May 4, 2011 2:36am | Edited 3:11am
Hello Rufus, always reading you from Italy.
These days seem crazy to me, I don't know exactly if it's directly connected to the killing of Bin Laden or what but the EURUSD is driving me crazy.... not easy to catch the right side...

Any suggestion or point of view is welcome
Have a good day and good trading.
Lorenzo
  • #1,509
  • May 4, 2011 7:52pm May 4, 2011 7:52pm
Quoting lorbax
Hello Rufus, always reading you from Italy.
These days seem crazy to me, I don't know exactly if it's directly connected to the killing of Bin Laden or what but the EURUSD is driving me crazy.... not easy to catch the right side...

Any suggestion or point of view is welcome
Have a good day and good trading.
hihihihi,,
Rufus is Good Trader
only an analysis, and I'm always wrong, don't follow me,
  • #1,510
  • May 4, 2011 10:59pm May 4, 2011 10:59pm
Quoting lorbax
Hello Rufus, always reading you from Italy.
These days seem crazy to me, I don't know exactly if it's directly connected to the killing of Bin Laden or what but the EURUSD is driving me crazy.... not easy to catch the right side...

Any suggestion or point of view is welcome
Have a good day and good trading.


Hi Lorbax

I have always thought Italy would be a great place to visit.

I feel your pain buddy…

I still find myself on the wrong side of the trend. You would think it would be so easy.

As for Bin Laden… To me news like that have little or no effect on the currency markets. The chart I posted is from September 11, 2001 when the twin towers came down. Bin Laden handiwork. As you can see hardly a bump on the daily chart. Now a country going bankrupt or a banking fiasco, that has the potential to move something.

One thing I have thought about are the type of entries I put on. They can be put into 4 categories.

1. Best
2. Good
3. Poor.
4. Stupid

We eliminate #4 and catch ourselves trying to do #3 and stop. All we have are best and good. One thing I think all need to realize though is that just because we put on a “best” doesn't mean it will be profitable.

This brings me to the next category.

We have to accept our risk 100%. If I cannot be comfortable with the risk, I don’t take a position. Just last week I closed one that started moving against me and I closed it down out of frustration only to have it reverse and hit my targets. Taught me a lot about accepting risk.

As for trade results there are only 4 types for me.

1. Big Gain
2. Small Gain
3. Small Loss
4. Big Loss

I don’t allow #4.
　
This may sound overly simple and some may call it trite. But I have found that the simpler I can make it the more profitable I can be. I like to be simple in my trading system and ruthless with taking profits. When I can add to positions without increasing my risk I will.

I have always had a tendency to start over complicate trading when
things start to go wrong. Tweeking things where it is not needed. For me it is usually just a manner of zooming out a time-frame or two to get a clearer picture of what it is I must be doing. Then move in for position planning.

I have no idea when the USD will finally flex its muscles and the trend start going the other way. I do know this much. I want to be ready for it when it happens and start building some long term positions. In the mean time I will be trading it In a range favoring north.

Trade safe and have fun doing it.
Rufus
　
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,511
  • May 5, 2011 5:41am May 5, 2011 5:41am
　
"This may sound overly simple and some may call it trite. But I have found that the simpler I can make it the more profitable I can be. I like to be simple in my trading system and ruthless with taking profits. When I can add to positions without increasing my risk I will."



Simple is always the way to go!
A woman drove me to drink, and I forgot to thank her
  • #1,512
  • May 5, 2011 6:31pm May 5, 2011 6:31pm
MOJO disruption

I get home from work to find the EU moving 400 pips while I was out. Now what do I do with the evening, especially with NFP tomorrow?

I am leaning toward finishing rebuilding my carburetor and drinking beer. Start fresh next week.

Seems like these past few weeks that I have been around my computer for the ranging times and then miss out on all else while either sleeping or working. This can get frustrating.

Trade safe all

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,513
  • May 6, 2011 3:08am May 6, 2011 3:08am
Took about 50 pips out of this mess before the EU lost its MOJO...

Done for the week. I am going to stay out of this mess.

Till next week...Trade safe all

Rufus
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,514
  • May 7, 2011 2:55am May 7, 2011 2:55am
Quoting Rufus
MOJO disruption

I get home from work to find the EU moving 400 pips while I was out. Now what do I do with the evening, especially with NFP tomorrow?

I am leaning toward finishing rebuilding my carburetor and drinking beer. Start fresh next week.

Seems like these past few weeks that I have been around my computer for the ranging times and then miss out on all else while either sleeping or working. This can get frustrating.

Trade safe all

Rufus
[OT]
Sounds like traders have similar hobbies, eheh, I have my hands on a couple of Weber's double-barrel 40 DCNF and just customized a 34-34 DAT to make it be a 34-36 . What are you getting your hands dirty with ?
Lorenzo
  • #1,515
  • May 7, 2011 8:53am May 7, 2011 8:53am
Quoting lorbax
[OT]
Sounds like traders have similar hobbies, eheh, I have my hands on a couple of Weber's double-barrel 40 DCNF and just customized a 34-34 DAT to make it be a 34-36 . What are you getting your hands dirty with ?

I had to look at a picture to see what a weber looked like...Cool

4 Barrel Holly for mine. Goes in my gas guzzling 460 cubic inch truck engine. For our metric friends 7.5 liters. It was fun to drive when gas was under a dollar. Now it is another work truck for me when hauling needs to be done. I like working on these things though.
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,516
  • May 9, 2011 8:10pm May 9, 2011 8:10pm
EU short

61.8 retracement. Price also broke the DP. 4 targets set, last one 140 pips south. First target in the bag and stops at BE. Will start looking for another entry somewhere. Might wait till FF now. Price seems to be moving pretty slow today.

I ate lunch Saturday with Sam0182... Had a super time and of course talked Fx. I probably talked his ear off. It is not often I get to "talk shop" with some one on these markets. When I do there is weeks and sometimes months of penned up thoughts ready to go.

Anyway....While talking to him I realized I was not as comfortable with my risk as I would like. So while continuing on my journey to visit my daughter I was running charts through my head and thinking about risk. I came to the conclusion that if I "feel like" I cannot leave my charts after I have put on a position. Then either I am not comfortable with my risk or I don't like my entry. In either case I am wrong. So my mental barometer is this. I need to be perfectly comfortable to walk away from my charts with any open position at any time and be 100% comfortable with it.

I always have stops in place. The only time I alter my position is to move my stop with price as it becomes necessary.

Thanks again Sam.

Lets "Play it again Sam"

Rufus
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,517
  • May 9, 2011 8:22pm May 9, 2011 8:22pm
Quoting Rufus
EU short

61.8 retracement. Price also broke the DP. 4 targets set, last one 140 pips south. First target in the bag and stops at BE. Will start looking for another entry somewhere. Might wait till FF now. Price seems to be moving pretty slow today.

I ate lunch Saturday with Sam0182... Had a super time and of course talked Fx. I probably talked his ear off. It is not often I get to "talk shop" with some one on these markets. When I do there is weeks and sometimes months of penned up thoughts ready to go.

Anyway....While talking to him I realized...

Little bugger retraced to my stop and promptly reversed......Such is life for playing the cards close to my chest...I think I will wait for FF now, see which way London moves things. Besides, wife coming with dinner.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,518
  • May 10, 2011 6:45pm May 10, 2011 6:45pm
It was good to finally meet you, thanks again for swinging by! Speaking in person with like minded traders is a rarity for me too. Looking forward to next time.
  • #1,519
  • May 10, 2011 9:08pm May 10, 2011 9:08pm
short e/u

http://my.jetscreenshot.com/5685/20110511-w9pa-61kb.jpg
The only system that will work is one designed by and for yourself.
  • #1,520
  • Edited May 12, 2011 12:36am May 11, 2011 1:20am | Edited May 12, 2011 12:36am
Quoting bloodpoodle
short e/u
Hi BP

Looks like you picked up a few pips.

When I am home I am usually able to grab at least one entry with the first two hours of the Asian session. Today however I was picking up my saddle that I had some work done on it. 100+ years old. The saddle maker I had working on it is one of the best and this thing is beautiful. It is a true cowboys saddle and there is no telling what stories it could tell. I use it on my horse Buddy.

Trade safe. I will be looking for a position with FF and the start of London tonight.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
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