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Amazing Black Magic Trading Method

  • #161
  • Jul 10, 2012 11:21pm Jul 10, 2012 11:21pm
Awesome thread chicky. I'm subscribing
Alternatives are more important than the plan itself
  • #162
  • Jul 11, 2012 12:01am Jul 11, 2012 12:01am
Chicky, are you planning to trade the USD/JPY. Since the Euro has started weaken, the Yen became more and more strong. This has a dragging effect on the Japan economy, we can see that this week, they had a negative Current account, Tomorrow Japan will have a monetary statement.

I personally thing that its very probable that they will at least talk of new measure to weaken The Yen. what do you think, are you also on this ??
Alternatives are more important than the plan itself
  • #163
  • Jul 11, 2012 8:52am Jul 11, 2012 8:52am
Quoting -Melo-
Chicky, are you planning to trade the USD/JPY. Since the Euro has started weaken, the Yen became more and more strong. This has a dragging effect on the Japan economy, we can see that this week, they had a negative Current account, Tomorrow Japan will have a monetary statement.

I personally thing that its very probable that they will at least talk of new measure to weaken The Yen. what do you think, are you also on this ??
Melo, I don't trade JPY. Plus, Jesse's method works best with least retraces. JPY forms frequent spikes and retraces after almost every major move.
The Thief of Wall Street
  • #164
  • Jul 11, 2012 1:25pm Jul 11, 2012 1:25pm
Quoting Chicky
My target is little above 1.1800. If it gets there will look for a reversal.

Added some more, the postion now is 2.7 lots. The next margin call will leave a balance of $3,378, that will be $400 profit.
Operating at 3 lot capacity. Margin Call will leave a balance of $3,700+, that will be $800 profit.
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The Thief of Wall Street
  • #165
  • Jul 12, 2012 9:30am Jul 12, 2012 9:30am
Quoting Chicky
Operating at 3 lot capacity. Margin Call will leave a balance of $3,700+, that will be $800 profit.
3.5 lots. A margin call will leave a balance of $4,300.
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The Thief of Wall Street
  • #166
  • Jul 12, 2012 10:13am Jul 12, 2012 10:13am
Looks like we have a perfect triangle on Silver. Chick, if Jesse was alive, do you think He would jump in this trade ??
Attached Image (click to enlarge)
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Alternatives are more important than the plan itself
  • #167
  • Edited 10:37am Jul 12, 2012 10:20am | Edited 10:37am
Quoting -Melo-
Looks like we have a perfect triangle on Silver. Chick, if Jesse was alive, do you think He would jump in this trade ??
Melo, I think we are nearing a trend exhaustion. If Jesse was alive he would have closed his short position (killing) leaving last few pips for others.

He normally waited for confirmation before entering in new direction. Therefore he would have either waited or entered a very small long testing trade.

Debating if I should follow Jesse's thinking, but not decisive yet.
The Thief of Wall Street
  • #168
  • Jul 12, 2012 10:22am Jul 12, 2012 10:22am
Quoting -Melo-
Looks like we have a perfect triangle on Silver. Chick, if Jesse was alive, do you think He would jump in this trade ??
Silver is very volatile. Its a good thin that I took only 1 micro lot on this
Alternatives are more important than the plan itself
  • #169
  • Jul 12, 2012 10:29am Jul 12, 2012 10:29am
Quoting Chicky
Melo, I think we are nearing a trend exhuastion. If Jesse was alive he would have closed his short position (killing) leaving last few pips for others.

He normally waited for confirmation before entering in new direction. Therefore he would have either waited or entered a very small long testing trade.

Debating if I should follow Jesse's thinking, but not decisive yet.
Indeed, It thins its maybe better to wait for a confirmation, but still, technical are stronger on silver so I decided to enter
Alternatives are more important than the plan itself
  • #170
  • Jul 12, 2012 10:39am Jul 12, 2012 10:39am
Chicky, do you have any opinion on Gold. sorry for asking this way, but you are the best trader I know here
Alternatives are more important than the plan itself
  • #171
  • Jul 12, 2012 10:54am Jul 12, 2012 10:54am
Quoting -Melo-
Chicky, do you have any opinion on Gold. ...
I think gold will soon break correlation only to shoot up. If euro crisis eases, USD will begin.
The Thief of Wall Street
  • #172
  • Jul 12, 2012 12:27pm Jul 12, 2012 12:27pm
Quoting Chicky
Melo, I think we are nearing a trend exhaustion. If Jesse was alive he would have closed his short position (killing) leaving last few pips for others.

He normally waited for confirmation before entering in new direction. Therefore he would have either waited or entered a very small long testing trade.

Debating if I should follow Jesse's thinking, but not decisive yet.
Reversed the direction. I think we are near trend exhaustion or a major retrace.
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The Thief of Wall Street
  • #173
  • Jul 12, 2012 1:38pm Jul 12, 2012 1:38pm
Quoting Chicky
Reversed the direction. I think we are near trend exhaustion or a major retrace.
maybe for this week only. I found weird that we didnt move further down. The voluma was a little bit low for this week, which is the main reason why I didnt trade the EUR/USD this week.
Alternatives are more important than the plan itself
  • #174
  • Jul 12, 2012 1:46pm Jul 12, 2012 1:46pm
Since oil price rose, the canadian dollar gain value while the AUD is losing ground due to negative news from yesterday. I wanted to enter the AUD/CAD pair, but I think its better to wait a little bit. If oil price keep on rising, I will enter this pair for Long term


By the way, since I like this thread very much Im likely to stick here. Chicky, I hope you dont mind if I post few chart here
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Alternatives are more important than the plan itself
  • #175
  • Jul 13, 2012 8:57am Jul 13, 2012 8:57am
Quoting Chicky
Placed as much margin allowed. Total position 1.7 lots. Want to bring it to at least 4 lots and then wait until everything goes in Euro's favor and against USD.
Long with 3.8 lots.
The Thief of Wall Street
  • #176
  • Jul 13, 2012 9:35am Jul 13, 2012 9:35am
Quoting Chicky
Long with 3.8 lots.
Alternatives are more important than the plan itself
  • #177
  • Jul 13, 2012 11:24am Jul 13, 2012 11:24am
Quoting -Melo-
Only if it goes to and stays above 1.2280
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The Thief of Wall Street
  • #178
  • Jul 13, 2012 11:29am Jul 13, 2012 11:29am
Quoting Chicky
Placed as much margin allowed. Total position 1.7 lots. Want to bring it to at least 4 lots and then wait until everything goes in Euro's favor and against USD.
Done.

Now a long wait.

4th Margin Call will leave $4,900 in the account.
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The Thief of Wall Street
  • #179
  • Jul 15, 2012 6:18pm Jul 15, 2012 6:18pm
Quoting Chicky
Done.

Now a long wait.

4th Margin Call will leave $4,900 in the account.
4.2 lots. Margin call at $5,200
The Thief of Wall Street
  • #180
  • Jul 15, 2012 6:33pm Jul 15, 2012 6:33pm
will you keep your longs open ???
Alternatives are more important than the plan itself
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