BBC newsnight on Euro situation at moment on BBC2
- #544,924
- Sep 28, 2011 4:36pm Sep 28, 2011 4:36pm
- Joined Jul 2009 | Status: Winter is coming. Ask Kondratieff. | 8,196 Posts
"I know one thing, that I know nothing." Sokrates
- #544,925
- Sep 28, 2011 4:47pm Sep 28, 2011 4:47pm
- | Joined Apr 2010 | Status: 888 | 1,664 Posts
You can remain irrational longer than you can remain solvent.
- #544,926
- Sep 28, 2011 4:52pm Sep 28, 2011 4:52pm
- Joined Sep 2008 | Status: Married - 5 Wives | 14,713 Posts
Shorting EU from 1.3543... targeting 1.3523... what you think guys... Do I should get out at 10pips profit?
There is no perfect set-up. Each and every trade will keep you shaky all the time.
The Thief of Wall Street
- #544,927
- Sep 28, 2011 4:52pm Sep 28, 2011 4:52pm
- Joined Feb 2009 | Status: Half in the Bag | 17,827 Posts
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
- #544,928
- Sep 28, 2011 4:54pm Sep 28, 2011 4:54pm
- Joined Jul 2009 | Status: Winter is coming. Ask Kondratieff. | 8,196 Posts
"I know one thing, that I know nothing." Sokrates
- #544,930
- Sep 28, 2011 4:59pm Sep 28, 2011 4:59pm
- Joined Feb 2009 | Status: Half in the Bag | 17,827 Posts
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
- #544,931
- Sep 28, 2011 4:59pm Sep 28, 2011 4:59pm
- | Joined Apr 2010 | Status: 888 | 1,664 Posts
You can remain irrational longer than you can remain solvent.
- #544,932
- Sep 28, 2011 5:01pm Sep 28, 2011 5:01pm
- Joined Sep 2011 | Status: I make Rambo look like a boy scout. | 1,472 Posts
I'm going to dip a toe in the water for a long. Here's what I'm looking at.
Weekly chart has tried dipping into a wide demand area a couple times and been rejected.
Daily chart bear pennant hasn't breached yet and she's at the bottom line.
15 minute chart nice rally from the 1.35 demand zone last time it hit.
Still not really fond of a long yet with sentiment so against risk right now so and I'm not really liking the way it's grinding to this level so I'm going to try to cherry pick it from the the lower wicks to be able to reduce the risk in pips from entry to SL down to 11 pips. My gut feeling is she'll break below 1.3500 as she has the last few times so why waste pips. What the entry like this does is...
1- It allows me to put on a much larger position size but still not risk more than my alloted 2% of my risk capitol on this trade.
2- If the bounce is shallow or looks like it's failing, I can cut it loose at 22 or 33 pips and still maintain a 2:1 or 3:1 reward:risk ratio vs the 70 pip 6:1 ratio that's planned and still profit nicely.
If she does bounce and take off a bit, I will most likely start to manage the exit on this trade on a 2 minute chart using a trendline break or a break of the median line on the bollenger bands to cut it loose if it turns against me.
Entry 1.3485
SL 1.3474
TP 1.3555
There are only 3 outcomes for this trade.... Stopped out for small loss, break even or take profit. I'm comfortable with this trade. It's planned and risk is managed.
Trade safe, don't gamble.
Mike
Weekly chart has tried dipping into a wide demand area a couple times and been rejected.
Daily chart bear pennant hasn't breached yet and she's at the bottom line.
15 minute chart nice rally from the 1.35 demand zone last time it hit.
Still not really fond of a long yet with sentiment so against risk right now so and I'm not really liking the way it's grinding to this level so I'm going to try to cherry pick it from the the lower wicks to be able to reduce the risk in pips from entry to SL down to 11 pips. My gut feeling is she'll break below 1.3500 as she has the last few times so why waste pips. What the entry like this does is...
1- It allows me to put on a much larger position size but still not risk more than my alloted 2% of my risk capitol on this trade.
2- If the bounce is shallow or looks like it's failing, I can cut it loose at 22 or 33 pips and still maintain a 2:1 or 3:1 reward:risk ratio vs the 70 pip 6:1 ratio that's planned and still profit nicely.
If she does bounce and take off a bit, I will most likely start to manage the exit on this trade on a 2 minute chart using a trendline break or a break of the median line on the bollenger bands to cut it loose if it turns against me.
Entry 1.3485
SL 1.3474
TP 1.3555
There are only 3 outcomes for this trade.... Stopped out for small loss, break even or take profit. I'm comfortable with this trade. It's planned and risk is managed.
Trade safe, don't gamble.
Mike
I don't care which way the market is going as long as it's going my way
- #544,934
- Sep 28, 2011 5:08pm Sep 28, 2011 5:08pm
- | Joined Apr 2010 | Status: 888 | 1,664 Posts
You can remain irrational longer than you can remain solvent.
- #544,936
- Sep 28, 2011 5:11pm Sep 28, 2011 5:11pm
- | Joined Apr 2010 | Status: 888 | 1,664 Posts
You can remain irrational longer than you can remain solvent.
- #544,937
- Sep 28, 2011 5:15pm Sep 28, 2011 5:15pm
- Joined Jul 2009 | Status: Winter is coming. Ask Kondratieff. | 8,196 Posts
Interestingly enough, we have moved a standard ATR of play based on an EMA cross.
100 pips from where the 20 crosses the 200...
Point of interest, IMO...would watch for signs of buyers moving in, and waiting for the counter cross if taking a chance on the longs.
Thanks for the analysis.
I didnt study ATR, yet. As volatility indicators I tested Stoch,RSI and percentage changes. For now, I am focusing on those pecentages.
Btw, I dunno what IMO means, going to google
.T.
"I know one thing, that I know nothing." Sokrates
- #544,938
- Sep 28, 2011 5:16pm Sep 28, 2011 5:16pm
- Joined Feb 2009 | Status: Half in the Bag | 17,827 Posts
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
- #544,939
- Sep 28, 2011 5:18pm Sep 28, 2011 5:18pm
Thanks for the analysis.
I didnt study ATR, yet. As volatility indicators I tested Stoch,RSI and percentage changes. For now, I am focusing on those pecentages.
Btw, I dunno what IMO means, going to google
T.
- #544,940
- Sep 28, 2011 5:18pm Sep 28, 2011 5:18pm
- | Joined Apr 2010 | Status: 888 | 1,664 Posts
You can remain irrational longer than you can remain solvent.