DislikedProbably not the best of ideas to add short positions until after the London and NY sessions have had their hopiumized fun. Just sayin'... Obviously you know best....Ignored
- #40,502
- Jun 29, 2012 2:20am Jun 29, 2012 2:20am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Those who say it cannot be done should not interrupt those who are doing it
Excellent.
I'm just glad I took a truckload of partial profits yesterday, otherwise my equity would have been set back to last Friday's levels and it would have resulted in a wasted week.
Soon it will be time to start reloading on fresh short positions, but first I want to see how today plays out. I never underestimate the power of hopium.
Just make sure the flatbed has enough room and is covered... Wouldn't want those dollar bills catching to the wind. In fact maybe put a few gold brick on top to weigh the bills down
- #40,506
- Jun 29, 2012 2:30am Jun 29, 2012 2:30am
Hey PT 
The USDCAD broke the trendline of the rising channel and hit exactly the 23.6 fibo @1.02276 from high 1.04457 to low 1.0587. You think this will go more south? It bounced twice already and trying to get in the channel. Do you think it's wise to buy now or just wait for NY session?
ADD: Already placed a small order @ 1.0245
The USDCAD broke the trendline of the rising channel and hit exactly the 23.6 fibo @1.02276 from high 1.04457 to low 1.0587. You think this will go more south? It bounced twice already and trying to get in the channel. Do you think it's wise to buy now or just wait for NY session?
ADD: Already placed a small order @ 1.0245
- #40,507
- Jun 29, 2012 2:38am Jun 29, 2012 2:38am
- | Joined Jun 2009 | Status: nothing new under the sun | 1,428 Posts
this morning i have taken a long and lost some money and it is entirely my fault and my mistake.now get off our back and start posting some chart and analysis to support ur view and please do read page one before saying anything and define ur time frame.ppl here are pro trend and not anti euro.ty
here i am i took unplanned position on the short side middle of night thinking that asian session wont be too volatile but market got me and gave me, good lession.i survived this but at the cost impairing my account to a degree.so what went wrong psychologically.
1.remember the above quote of mine from yesterday,its sort of smugness and arrogance filled,sort of intelluctual snobishness,somehow taking the person for granted[i did took that person seriously but the thing was didnt analyse deep enuff to realise that the market is in too oversold condition and that only closing the existing positions are enuff for a spike,probably its my inexperience or i am rationalising now post fact]
2.following the above post did anyone notice how many ppl actaully wrote in support of it,i know many have, that itself should have warn us that something is wrong and be extra cautious
3.its month end,i just ignore that fact may bedue to too much reliance on technicals.
4.impatience..market missed my short position from 1.2760 and i am in a sort of hurry loosing the bigger perspective.
5.not having enuf descipline to stick to my strategy.
6.i am lucky in the sense that i am out of market but the loss is painful.
7.next time if anyone notice me talking nonsense then just let me know becos its a going to be good point to fade myself.
Allah has permitted trade and has forbidden interest [koran]
- #40,508
- Jun 29, 2012 2:39am Jun 29, 2012 2:39am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Hey PT
The USDCAD broke the trendline of the rising channel and hit exactly the 23.6 fibo @1.02276 from high 1.04457 to low 1.0587. You think this will go more south? It bounced twice already and trying to get in the channel. Do you think it's wise to buy now or just wait for NY session?
ADD: Already placed a small order @ 1.0245
I'm patient. If you're in also, just remember to take partial profits once price reaches exhaustion points (Just like I did yesterday at 1.0352)
Those who say it cannot be done should not interrupt those who are doing it
- #40,509
- Jun 29, 2012 2:44am Jun 29, 2012 2:44am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
here i am i took unplanned position on the short side middle of night thinking that asian session wont be too volatile but market got me and gave me, good lession.i survived this but at the cost impairing my account to a degree.so what went wrong psychologically.
1.remember the above quote of mine from yesterday,its sort of smugness and arrogance filled,sort of intelluctual snobishness,somehow taking the person for granted[i did took that person seriously but the thing was didnt analyse deep enuff to realise that the market is in too oversold condition...
ADD: I made a mistake also. I had a sell limit order at 1.2591. Remember that? Well I got a little impatient and moved it down to 1.2565. It's less than a 30 pip difference but it does take a toll psychologically. I'm not very happy with myself right now but I'll be fine once this short covering rally starts to fade
Those who say it cannot be done should not interrupt those who are doing it
- #40,510
- Jun 29, 2012 2:49am Jun 29, 2012 2:49am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Those who say it cannot be done should not interrupt those who are doing it
- #40,511
- Jun 29, 2012 2:54am Jun 29, 2012 2:54am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Those who say it cannot be done should not interrupt those who are doing it
- #40,512
- Edited 3:17am Jun 29, 2012 2:56am | Edited 3:17am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Those who say it cannot be done should not interrupt those who are doing it
- #40,514
- Jun 29, 2012 3:21am Jun 29, 2012 3:21am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Those who say it cannot be done should not interrupt those who are doing it
- #40,515
- Jun 29, 2012 3:22am Jun 29, 2012 3:22am
My view on the USD/CAD is similar to my view on the EUR/USD. There will be whipsaws and indecision, but at the end of the day, the USD has lots more to gain before it's over. Both the F/A and T/A are in full support of a U/CAD move towards 1.06xx
I'm patient. If you're in also, just remember to take partial profits once price reaches exhaustion points (Just like I did yesterday at 1.0352)
I already took 50% partial @1.0318 and closed the order @ 1.035 yesterda, that was fair enough for me. The injury was the eu selllimit @1.246, sl was 1.252.
Anyway this not the end of the world
- #40,518
- Jun 29, 2012 3:26am Jun 29, 2012 3:26am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
well, Merkel speak wasn't that negative , i guess we need something stronger to get back to 1.24xx
ADD: By the way... Merkel also said that in order for any EZ nation to tap the ESM, there would have to be agreement from all 17 EZ member states each time an application for aid if filed. It is not carte blanche.
Those who say it cannot be done should not interrupt those who are doing it