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  • #743,881
  • Jan 9, 2013 9:45pm Jan 9, 2013 9:45pm
Good points and I agree with you totally. These current market conditions forced me to stop trading my short term style and focus on higher TF setups.

Cheers

Quoting DaEdge
The market has just changed a bit, but to say its not a position market is very false. All the smart money still & always will position trade. Just like any other market you need to follow the flow of the money & stick with those pairs that its moving into, as of the last 2 months that's been the yen crosses. If your going to trade pairs like e/u your going to need to raise your TF (daily or higher is very clean IMO) lower your leverage, & widening your stops to avoid getting wipsawed from the choppiness from all daily political headwinds the media...
  • #743,882
  • Jan 9, 2013 9:46pm Jan 9, 2013 9:46pm
Quoting attila
ok
Can you please share your thoughts on the position trading topic?
It works till it doesn't
  • #743,883
  • Jan 9, 2013 9:56pm Jan 9, 2013 9:56pm
The markets are always the same - forever changing (apologies to Ed Sek)
  • #743,884
  • Jan 9, 2013 10:02pm Jan 9, 2013 10:02pm
Quoting DaEdge
Can you please share your thoughts on the position trading topic?
Don't know what to say.. Somebody's garbage is somebody else's treasure. For what I know, I probably trade within your stop loss.. Nothing wrong with neither.. I just can't trade this market otherwise, while it retraces each and every pip pip ten times with long periods of consolidation followed by almost random moves that all look good in retrospect.. I had a rant at one point, let me see if I can find it.

Here it is, case in point. Look at the weekly chart now.

http://www.forexfactory.com/showthre...06#post6295906
  • #743,885
  • Jan 9, 2013 10:10pm Jan 9, 2013 10:10pm
Quoting attila
Don't know what to say.. Somebody's garbage is somebody else's treasure. For what I know, I probably trade within your stop loss.. Nothing wrong with neither.. I just can't trade this market otherwise, while it retraces each and every pip pip ten times with long periods of consolidation followed by almost random moves that all look good in retrospect.. I had a rant at one point, let me see if I can find it.
I definitely feel that PA has been very sloppy on an intra day basis there's multiple unexplainable moves throughout the day that retrace faster than they occur, I feel a good amount of this is do to lack on real money in the market. I worked on an equities desk for many years and these types of moves were very common on thin stocks. It's not a secret volume has been on a steady decline for some time now.
It works till it doesn't
  • #743,886
  • Jan 9, 2013 10:14pm Jan 9, 2013 10:14pm
Quoting DaEdge
I definitely feel that PA has been very sloppy on an intra day basis there's multiple unexplainable moves throughout the day that retrace faster than they occur, I feel a good amount of this is do to lack on real money in the market. I worked on an equities desk for many years and these types of moves were very common on thin stocks. It's not a secret volume has been on a steady decline for some time now.
yeah, people are fleeing the markets in droves.. and then we hear money managers and all the big shots tearing up they can't make any money.. of course they can't, they killed the goose. Just wait and see what the European fin. transaction tax will do to all these... And of course U.S. will follow with that stupid idea..
  • #743,887
  • Jan 9, 2013 10:15pm Jan 9, 2013 10:15pm
Hey mate

Which tools are you using at present.

Thanks
  • #743,888
  • Jan 9, 2013 10:16pm Jan 9, 2013 10:16pm
FYI

http://www.ibtimes.com/ecb-interest-...t-2013-1002558
  • #743,889
  • Jan 9, 2013 10:21pm Jan 9, 2013 10:21pm
It's funny.. I think I heard something about some banks (can't remember the names, 3 or 4 of them) that will be exempt from some of the Dodd/Frank regulations.. here come the cronies..
  • #743,890
  • Jan 9, 2013 10:36pm Jan 9, 2013 10:36pm
Quoting attila
Don't know what to say.. Somebody's garbage is somebody else's treasure. For what I know, I probably trade within your stop loss.. Nothing wrong with neither.. I just can't trade this market otherwise, while it retraces each and every pip pip ten times with long periods of consolidation followed by almost random moves that all look good in retrospect.. I had a rant at one point, let me see if I can find it.

Here it is, case in point. Look at the weekly chart now.

http://www.forexfactory.com/showthre...06#post6295906...
I haven't traded the pair in a while, and I'm not smart by any means but this is what I see. To me its bullish but price is in the middle of nowhere. I see 2 scenarios 1) wait for price to trade to demand level & buy it there or 2) I'd be waiting for the supply level up above to get taken out then the current level (price now) will be new demand level & the next place I'd look to buy. If number 1 fails & stop is hit id look for a weekly close below recently broken demand level & I'd look to short the bounce.

http://i1356.photobucket.com/albums/...ps3cab9ffd.jpg

Like I said I'm not that smart & I try to keep it real simple.
It works till it doesn't
  • #743,891
  • Jan 9, 2013 10:43pm Jan 9, 2013 10:43pm
Quoting attila
yeah, people are fleeing the markets in droves.. and then we hear money managers and all the big shots tearing up they can't make any money.. of course they can't, they killed the goose. Just wait and see what the European fin. transaction tax will do to all these... And of course U.S. will follow with that stupid idea..
I definitely agree the markets are changing which happens every few years so & those who refuse to change with it end up leaving, but this is nothing new its very common for mangers to have a good run & make a fortune & then they don't want to adapt to the changes & they leave. If you've been in this business for longer than 10 years it shouldn't be the first time you've heard this some and dance with mangers complaining & leaving.
It works till it doesn't
  • #743,892
  • Jan 9, 2013 10:44pm Jan 9, 2013 10:44pm
Quoting thir13enth
FYI

http://www.ibtimes.com/ecb-interest-...t-2013-1002558
from how's been dropping, the article might be correct and it'll start going up soon..
  • #743,893
  • Jan 9, 2013 10:46pm Jan 9, 2013 10:46pm
Quoting DaEdge
I definitely agree the markets are changing which happens every few years so & those who refuse to change with it end up leaving, but this is nothing new its very common for mangers to have a good run & make a fortune & then they don't want to adapt to the changes & they leave. If you've been in this business for longer than 10 years it shouldn't be the first time you've heard this some and dance with mangers complaining & leaving.
right. we'll see what will happen next..
  • #743,894
  • Jan 9, 2013 11:05pm Jan 9, 2013 11:05pm
Quoting attila
right. we'll see what will happen next..
No doubt about it there will definitely be something new. If you've been around for a while, when we went from fractions to decimals it was the same story, then again when the open outcry system got phased out, now it's the algos it's always going to be something. Each one of those times top managers would complain the markets suck they can't make money & there leaving. The one constant is those who adapt will always be around.
It works till it doesn't
  • #743,895
  • Jan 9, 2013 11:24pm Jan 9, 2013 11:24pm
Quoting attila
fx is not a position market anymore, you really have to go for 20-30 pips at a time.. take care and come back from time to time..
yes, and the more positioning gets discussed and analyzed on forums, the more true that statement becomes.
  • #743,896
  • Jan 9, 2013 11:29pm Jan 9, 2013 11:29pm
Quoting DaEdge
The market has just changed a bit, but to say its not a position market is very false. All the smart money still & always will position trade. Just like any other market you need to follow the flow of the money & stick with those pairs that its moving into, as of the last 2 months that's been the yen crosses. If your going to trade pairs like e/u your going to need to raise your TF (daily or higher is very clean IMO) lower your leverage, & widening your stops to avoid getting wipsawed from the choppiness from all daily political headwinds the media...

100%
i have just short au aussie and the second kiwi get below 8400 will be sell her too, both position trades, speed of fall against swap will determine lenth of time held
already positioned eu cable gbp/cad and geppy
If you are new to Forex? Say Goodbye to your account!!
  • #743,897
  • Jan 9, 2013 11:33pm Jan 9, 2013 11:33pm
Quoting KiwiTrada
Alcohol abuse shorten life by 10% Smoking 10% Junk Food 10% Forex 80%
Shit I am -10% Dead
My shrink said I have addiction issue. Perhaps that should be weighted too.
  • #743,898
  • Jan 9, 2013 11:35pm Jan 9, 2013 11:35pm
Quoting attila
It's funny.. I think I heard something about some banks (can't remember the names, 3 or 4 of them) that will be exempt from some of the Dodd/Frank regulations.. here come the cronies..
I want names.
Not all sins are created equal
  • #743,899
  • Jan 9, 2013 11:36pm Jan 9, 2013 11:36pm
Quoting Ken A
My shrink said I have addiction issue. Perhaps that should be weighted too.
It's not an addiction it's called trading
It works till it doesn't
  • #743,900
  • Jan 9, 2013 11:43pm Jan 9, 2013 11:43pm
Quoting 1candlepower
yes, and the more positioning gets discussed and analyzed on forums, the more true that statement becomes.
Position trading can never go anywhere. When your the size of a major bank or hedge fund that has access to trillions in capital with leverage do you think you are going to slam into a trade & try to scalp a few pips. Who's going to take the other side to get you out of the trade. Smart money will always position trade they can't do it any other way.
It works till it doesn't
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