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Trade what you see NOT what you expect

  • #36,641
  • Aug 1, 2012 10:56am Aug 1, 2012 10:56am
Quoting Trader131
Thanks for posting it, Steep, but it's not for me. My eyes glazed over after the 2nd paragraph! But if it works for you then great- Sorry!
yeah i understand, if what you do works, don't fix what isn't broken
  • #36,642
  • Aug 2, 2012 5:56am Aug 2, 2012 5:56am
Been a long time since I've seen such wild price movement! Reminds me of the stock market in the 90's when Greenspan described it as irrational exuberance.
Hi, my name is Barry and you can keep your doctor...
  • #36,643
  • Aug 2, 2012 6:09am Aug 2, 2012 6:09am
Yes, good old Draghi- guaranteed to disappoint!
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,644
  • Aug 2, 2012 6:32am Aug 2, 2012 6:32am
Quoting Trader131
Yes, good old Draghi- guaranteed to disappoint!
Yeah, but the truth is that everyone is looking for a magic bullet to cure the ills of Europe when in fact no such bullet exists. It goes back to the core of what got the whole mess started...and that is cradle to grave entitlements. It doesn't work and nobody wants to fix that situation because that would mean giving up their lush gov't benefits.

Obama is doing his best to get the U.S. in the same situation. He believes that everyone is entitled by birth to have the gov't pay for everything. A socialist nanny state if you will. Those types of actions stifle personal initiative and creativity. In other words why work hard when the gov't will take care of me.

These are just my thoughts. I'm sure many disagree, but I'm old school. I believe you create your own success through hard work...not depending on the gov't.

Side note: I keep hearing the U.S. Federal Reserve is propping up the Euro. That wouldn't surprise me in the least. If the Euro falters it would kill U.S. exports.
Hi, my name is Barry and you can keep your doctor...
  • #36,645
  • Aug 2, 2012 6:36am Aug 2, 2012 6:36am
Quoting cisco
Yeah, but the truth is that everyone is looking for a magic bullet to cure the ills of Europe when in fact no such bullet exists. It goes back to the core of what got the whole mess started...and that is cradle to grave entitlements. It doesn't work and nobody wants to fix that situation because that would mean giving up their lush gov't benefits.

Obama is doing his best to get the U.S. in the same situation. He believes that everyone is entitled by birth to have the gov't pay for everything. A socialist nanny state if you will. Those types of...
Excellent post Cisco and you're right, it's certainly part of the problem.

The situation has obviously spiralled since then but it's without a doubt what helped get Greece into the state it got into. They are starting to experience a very long and very cold shower now and it's hurting.
  • #36,646
  • Aug 2, 2012 6:48am Aug 2, 2012 6:48am
Quoting Trotty

The situation has obviously spiralled since then but it's without a doubt what helped get Greece into the state it got into. They are starting to experience a very long and very cold shower now and it's hurting.
Apparently France didn't get the memo. Didn't they just lower retirement to 50?

I've often heard the definition of insanity is doing the same thing over and over and expecting different results.
Hi, my name is Barry and you can keep your doctor...
  • #36,647
  • Aug 2, 2012 7:14am Aug 2, 2012 7:14am
Quoting cisco
Apparently France didn't get the memo. Didn't they just lower retirement to 50?

I've often heard the definition of insanity is doing the same thing over and over and expecting different results.
Haven't heard about this, is this state pension retirement age then?

Absolute madness if true. Our is pushing 70 now!
  • #36,648
  • Aug 2, 2012 7:26am Aug 2, 2012 7:26am
Quoting Trotty
Haven't heard about this, is this state pension retirement age then?

Absolute madness if true. Our is pushing 70 now!
My mistake! After checking my facts, I was wrong. Sarkozy raised retirement to 62, huge protests followed. Holland was elected and wants to lower retirement back to 60 and raise the minimum wage.
Hi, my name is Barry and you can keep your doctor...
  • #36,649
  • Aug 2, 2012 7:59am Aug 2, 2012 7:59am
Quoting cisco
My mistake! After checking my facts, I was wrong. Sarkozy raised retirement to 62, huge protests followed. Holland was elected and wants to lower retirement back to 60 and raise the minimum wage.
Ha ha, no trouble bud. Did think it sounded a little crazy - even for our French friends!
  • #36,650
  • Aug 2, 2012 10:10am Aug 2, 2012 10:10am
Another off topic subject, which is the norm for me.

Anybody been watching the women volleyball teams at the olympics? Holy shiite, the Brazilian women are gorgeous. I don't think there's a dog on the team. I started drooling the moment I saw them!
Hi, my name is Barry and you can keep your doctor...
  • #36,651
  • Aug 3, 2012 1:00am Aug 3, 2012 1:00am
Quoting cisco
Another off topic subject, which is the norm for me.

Anybody been watching the women volleyball teams at the olympics? Holy shiite, the Brazilian women are gorgeous. I don't think there's a dog on the team. I started drooling the moment I saw them!
One of my favourite Olympic sports, unfortunately the British team don't live up to the standards of the other nations in both the ability or the eye candy stakes!

Loving the track cycling (Victoria Pendleton also makes things easier on this front!).
  • #36,652
  • Edited 8:52pm Aug 3, 2012 8:07pm | Edited 8:52pm
WAZZZUUUPPPP MY PEOPLE???

It seems to all work out if you are patience(which I'm working on)....I got sick last week from this heat in the south, so this past week I was down in the bed, Mon - Wed, then got got some legs under my belt Wed night.

Close my short from April at 1.2280, after Draghi's pledge to save the Euro last week....

Went long at 1.2231, s/l 1.2181 on Wednesday night after Mr, Ben's disappiontment, figuring Draghi was for real, to only get a knockout blow within 1HR after he spoke...WTF????

So went short @ 1.2191, s/l @ 1.2291 (yeah market was pulling off 200 pips whips), so I figure Draghi is bullsh-t and sellers would beat him down before my s/l was hit, but woke up Friday morning and look at price and said WTF????, my wife said "you alright" I told her +100 pips on the EURUSD before NFP??? She said what are you talking about???? I said nothing dear....BIG SMILE.....

After that I need to get back to the basics...I went long after NFP, with a close above my 4HR 100 SMA at the 16:00GMT candle, target of 1.2650 or further.... maybe??????? Only time will tell.....

I'm also watching the USDCHF, which got under .9750 barrier on my weekly (no chart).......

Let's see how she rolls....

HOLLA
Attached Images
  • #36,653
  • Aug 5, 2012 10:17am Aug 5, 2012 10:17am
Great stuff, Turtle- looking good!
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,654
  • Aug 6, 2012 4:19pm Aug 6, 2012 4:19pm
Quoting Trader131
Great stuff, Turtle- looking good!
Thanks bro....

Still holding since Friday.

Hope all is well on your end.

HOLLA
  • #36,655
  • Aug 6, 2012 11:41pm Aug 6, 2012 11:41pm
Quoting Turtle
Thanks bro....

Still holding since Friday.

Hope all is well on your end.

HOLLA
All good here, not got much time to post with the school holidays, but still trading and it's going well (but I'm not making record returns, like in June!). More slowly , slowly, catchy monkey!

Anyway, I've got time to post a long I just took on Euro- it's one of those trades that never made it into the pdf, but in my opinion is classic EO:

The long flat top/bottom candle that closes on an area of support and resistance (very important, you can't just take any old candle!). Entry was immediately on the open of the next candle with a tight stop. I took 0 drawdown and covered half +10 at the fast ma's. I like it, because you can have a tight stop, which allows you to take profit quickly. Entry and TP1 below
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur15min.gif Size: 22 KB
Click to Enlarge Name: eur15min1st tp.gif Size: 23 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,656
  • Aug 7, 2012 12:31am Aug 7, 2012 12:31am
Back from breakfast, and see it worked out nicely. The fact that it happened during Frankfurt opening, may also have helped (the Franky fake). The 1 hr chart below explains the "fake" move through the trendline and then sharp rejection forming a pin- my entry was right at the bottom of the pin- I love it when that happens! Taking 1/4 off up here, at upper trendline for +42 pips
Attached Image (click to enlarge)
Click to Enlarge Name: eur1hr.gif Size: 22 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,657
  • Aug 7, 2012 2:27am Aug 7, 2012 2:27am
Quoting Trader131
Back from breakfast, and see it worked out nicely. The fact that it happened during Frankfurt opening, may also have helped (the Franky fake). The 1 hr chart below explains the "fake" move through the trendline and then sharp rejection forming a pin- my entry was right at the bottom of the pin- I love it when that happens! Taking 1/4 off up here, at upper trendline for +42 pips
Very nice entry!
  • #36,658
  • Aug 8, 2012 3:38pm Aug 8, 2012 3:38pm
Nice 131.....

Classic flat bottom/top close and reverse. EO is smiling somewhere right about now.

I'm still in same position as of last Friday.

She is consolidating.....gonna break one way of another. 117 pip weekly candle so far....

HOLLA
  • #36,659
  • Aug 24, 2012 1:33pm Aug 24, 2012 1:33pm
Hey Guys,

Just checking in.. Hope you're all enjoying the holidays, or making pips, or both!

I've been up in Edinburgh for the festival, and am then off to France on Monday. I haven't had many trading opportunities, but I'm enjoying time away from the screens- sometimes you can get dragged into it all too much.

Less is more.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #36,660
  • Aug 24, 2012 1:50pm Aug 24, 2012 1:50pm
Quoting Trader131
Hey Guys,

Just checking in.. Hope you're all enjoying the holidays, or making pips, or both!

I've been up in Edinburgh for the festival, and am then off to France on Monday. I haven't had many trading opportunities, but I'm enjoying time away from the screens- sometimes you can get dragged into it all too much.

Less is more.
good to hear, glad your enjoying your vacations, i havent been able to trade much either, only swing trades especially now that i started working at a prop firm trading stocks, but i definitely have more of a passion for the forex market. anyways glad to know the thread isn't dead, (eventhough i think this thread will never die after surviving this long.)
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