http://lcchong.files.wordpress.com/2...ng?w=877&h=398
http://lcchong.files.wordpress.com/2...ng?w=877&h=398
http://lcchong.files.wordpress.com/2...ng?w=877&h=398
- #24,404
- Jun 4, 2011 8:54pm Jun 4, 2011 8:54pm
- Joined Jul 2007 | Status: Short on USD/MXN, Long on legs | 16,578 Posts
I've read your blog about your trading edge in the forex market. Lol you seem to be scared that people copy it, with your "don't copy" all over the pages. Don't worry I won't copy it. It wouldn't work for me.
Your system would have one advantage for me, I would NEVER lose any trade using your system.
But there is a disadvantage also, I would also NEVER win a trade.
In my eyes you made trading in your system so extremely complicated that by the time I had all the parameters and other stuff calculated and lined up, the trading opportunity would be gone an hour ago.
Remember KISS? Keep It Simple Stupid.
Trading is not that difficult, a lot has to do with being informed and use your common sense. You must be using a calculator all the time with your 1%, 2%, 6%, 70% rules, your system and not system stops and traling stops, while I read about fundamentals and probable trading set-ups.
Then I enter a trade and walk away if I like, even without a s/l.
But everyone his own method, it is just my opinion, nothing more.
Shamu
New voice message: Why are you calling me? If I need you, I'll call you!
- #24,405
- Jun 4, 2011 9:52pm Jun 4, 2011 9:52pm
- Joined Sep 2008 | Status: Married - 5 Wives | 14,713 Posts
it is just my opinion, nothing more.
Shamu
The Thief of Wall Street
- #24,406
- Jun 4, 2011 10:26pm Jun 4, 2011 10:26pm
- Joined Jul 2007 | Status: Short on USD/MXN, Long on legs | 16,578 Posts
What else is there now?
What do you mean with "what else is there now"?
By the way, I had 4 Killer Trades last week. 3 UY and 1 UC, In percentage I made what I normally make in 1.5 months,
I'm staying a bit away from EU, unless you can tell me where the reversal will be? Pretty soon I guess.
Shamu
New voice message: Why are you calling me? If I need you, I'll call you!
- #24,408
- Jun 5, 2011 3:22am Jun 5, 2011 3:22am
- Joined Jul 2007 | Status: Short on USD/MXN, Long on legs | 16,578 Posts
Therefore I think the trend down has come up against a brick wall, and the trend is finished. There is no reversal yet, lets be quite clear about that, but the trend down is finished. The only way it will resume is if the BOJ allow it to resume.
So, buying into the dips is the only course of action that makes any sense to me. Normally I wouldn't consider buying against such a long term downtrend that has not show a sign of reversal, but in this case, I don't see the downtrend resuming.
If it was going to resume down, it has had plenty of opportunity...
I sure like that idea, it's my idea too, only I didn't look that far back. But since the start of this year I have not done any trades short UY, but I think a double bottom @ 79.55 is still possible, or maybe 80 is too strong of a support and it won't. Maybe we saw the low last Friday @ 81.06.
I believe 80.00 is a relatively strong support and I'm already positioned for a long trade, currently b/e @ 80.40, which is again a level were I feel comfortable. I don't care if it goes up or down, I've enough margin to buy more at lower levels and get my b/e at 80.00, that would be nice.
I don't expect to make a Killer Week now because the week after NFP is without major news releases for usa. Trade balance will be bad but we're used to that, Maybe a little surprise in unemployment claims that could go either way and that's it..
Shamu
New voice message: Why are you calling me? If I need you, I'll call you!
- #24,409
- Jun 5, 2011 3:37am Jun 5, 2011 3:37am
- Joined Jul 2007 | Status: Short on USD/MXN, Long on legs | 16,578 Posts
Appreciated your comments.
Since I am trading on D1 chart, I have plenty of time to do analysis.
The complicated part is at discretion decision.
About the 2% hard stop, realize that 80% of traders make on average less than 2% in winning trades, So one s/l per week would already give you a negative balance.
I'm down 1% in my UY account, but if it goes to 79.55 I'll buy more and be down probable 10% and still buying.
S
New voice message: Why are you calling me? If I need you, I'll call you!
- #24,411
- Jun 6, 2011 4:34am Jun 6, 2011 4:34am
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
80.04 don't think it will hold, next POI 79.84
H1:
H1:
Don't be a hero. Don't have an ego. Always question yourself
- #24,412
- Jun 6, 2011 4:37am Jun 6, 2011 4:37am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.
- #24,413
- Jun 6, 2011 4:46am Jun 6, 2011 4:46am
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
Hello there Bear.....I think you're right....I think we're going down some more. I hate to say it, but 79.00 is looking more and more likely
Must confess it's a little difficult to see that at current levels but then this pair does what it wants
Don't be a hero. Don't have an ego. Always question yourself
- #24,414
- Jun 6, 2011 4:52am Jun 6, 2011 4:52am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Hi realjumper, yes the pattern does suggest a fierce fast down move and a fast recovery thereafter.
Must confess it's a little difficult to see that at current levels but then this pair does what it wants
Yes, it's a difficult situation. Bernanke wants a weaker dollar......(ffs why? is that all he's got?), and that put's pressure on the Yen, which Noda doesn't like, or deserve......the Swiss don't like , the commodity currencies don't like....etc etc etc. This pair is very hard to forecast with any degree of clarity!!!
Doing what you like is Freedom. Liking what you do is Happiness.
- #24,416
- Jun 6, 2011 4:59am Jun 6, 2011 4:59am
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
Don't be a hero. Don't have an ego. Always question yourself
Hi Chicky, how are you?
What do you mean with "what else is there now"?
By the way, I had 4 Killer Trades last week. 3 UY and 1 UC, In percentage I made what I normally make in 1.5 months,
I'm staying a bit away from EU, unless you can tell me where the reversal will be? Pretty soon I guess.
Shamu
I'm watching this currency so closely I'm using windows magnifier
- #24,418
- Jun 6, 2011 5:15am Jun 6, 2011 5:15am
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
Don't be a hero. Don't have an ego. Always question yourself
- #24,419
- Jun 6, 2011 5:30am Jun 6, 2011 5:30am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.
