FINALLY closed my top short for 40 pips. Had this position since Jan. Now 24 more shorts to go to 1.21xx
Patience and MM are KEY to survial in any market. My account is living proof.
- Post #66,161
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- Mar 1, 2013 7:30am Mar 1, 2013 7:30am
- Post #66,162
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- Mar 1, 2013 7:48am Mar 1, 2013 7:48am
- Joined May 2010 | Status: Simple chart is the best... | 1,554 Posts
MAKE IT OR BREAK IT...
I bet there is a massive amount of bulls STOP LOSS orders below 1.3000, you know, some will have 10 pips, others 50pips etc etc...
If 1.3000 will be broken it will with high probability trigger all their STOP LOSS orders one by one, creating chain reaction and pushing the price down to 1.2980-1.29500
All we need is to BREAK 1.30000...
Interesting day on charts anyway
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Look at this:
1 .the price spiked through 1.3000 and quickly returned over 1.3000
2 .and it didn't trigger massive STOP LOSS orders chain reaction...
All that means that 1.3000 found enough buyers for now and this is a strong support.
Now I wait if 1H candle close... below or above 1.3000
Read Charts - Not Papers
- Post #66,163
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- Mar 1, 2013 8:01am Mar 1, 2013 8:01am
- Joined May 2010 | Status: Simple chart is the best... | 1,554 Posts
Hmmmm.... 1.3000 holds ?
Look at this:
1 .the price spiked through 1.3000 and quickly returned over 1.3000
2 .and it didn't trigger massive STOP LOSS orders chain reaction...
All that means that 1.3000 found enough buyers for now and this is a strong support.
Now I wait if 1H candle close... below or above 1.3000
Now I clicked CLOSE and left all my SHORTS.
It's FRIDAY... enough for today and I don't want to stay with open position over weekend.
I think it will consolidate here until Monday so it's time to see some birds singing outside
Green pips anyway
Read Charts - Not Papers
- Post #66,164
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- Mar 1, 2013 8:02am Mar 1, 2013 8:02am
- | Commercial Member | Joined Nov 2012 | 3,178 Posts
We might see a slight rebound which should be capped near today's high near 1.31. Will look to short again near there if Mr. E gives me that gift. If not I have a long @ 1.3033 waiting to catch a ride...
If you want money like a bankster then you have to trade like a bankster. At all price points both long and short. MM is your gyroscope to keep you upright and the indos are your compass. Fundos are your map
If you want money like a bankster then you have to trade like a bankster. At all price points both long and short. MM is your gyroscope to keep you upright and the indos are your compass. Fundos are your map
Trade smaller than rational because the market is irrational...
- Post #66,165
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- Mar 1, 2013 8:04am Mar 1, 2013 8:04am
- Joined May 2010 | Status: Simple chart is the best... | 1,554 Posts
We might see a slight rebound which should be capped near today's high near 1.31. Will look to short again near there if Mr. E gives me that gift. If not I have a long @ 1.3033 waiting to catch a ride...
If you want money like a bankster then you have to trade like a bankster. At all price points both long and short. MM is your gyroscope to keep you upright and the indos are your compass. Fundos are your map
Read Charts - Not Papers
- Post #66,166
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- Mar 1, 2013 8:10am Mar 1, 2013 8:10am
- | Commercial Member | Joined Nov 2012 | 3,178 Posts
I am thinking to SHORT again (to retest 1.300) but a little bit closer, around 1.3050-1.3060 , but it's Monday I think
Trade smaller than rational because the market is irrational...
- Post #66,167
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- Mar 1, 2013 8:12am Mar 1, 2013 8:12am
- Joined May 2010 | Status: Simple chart is the best... | 1,554 Posts
Yes I agree with your levels. For me I cannot short under 1.3035 to stay within my MM parameters (DD% circuit breaker) so I am hoping for a bump higher.
What kind of monster is that?
Read Charts - Not Papers
- Post #66,168
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- Mar 1, 2013 8:23am Mar 1, 2013 8:23am
- | Commercial Member | Joined Nov 2012 | 3,178 Posts
(DD% circuit breaker)???
What kind of monster is that?
When my Draw Down (DD) exceeds a certain percentage I halt trading on that bias (short) but can trade freely on the other side (long).
I focus more on capital preservation rather than greed.
Trade smaller than rational because the market is irrational...
- Post #66,169
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- Mar 1, 2013 8:27am Mar 1, 2013 8:27am
- Joined May 2010 | Status: Simple chart is the best... | 1,554 Posts
LOL its my account savior.
When my Draw Down (DD) exceeds a certain percentage I halt trading on that bias (short) but can trade freely on the other side (long).
I focus more on capital preservation rather than greed.
Read Charts - Not Papers
- Post #66,170
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- Mar 1, 2013 8:32am Mar 1, 2013 8:32am
- Joined Jan 2013 | Status: Trading defies logic | 4,643 Posts
When the facts change I change my mind, what do you do sir
- Post #66,171
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- Mar 1, 2013 10:44am Mar 1, 2013 10:44am
- Joined Oct 2009 | Status: Whn Market Warms u..U keep it Kool | 6,578 Posts
Some music for sinking EURO ... 
- Post #66,172
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- Mar 1, 2013 7:29pm Mar 1, 2013 7:29pm
- Joined Jul 2012 | Status: CME seat owner | 5,974 Posts
Assuming the US does not vote to cut $85 billion this weekend, then I think we should see a good pull back to the long side.
I may start posting here exclusively again. Where I started off
Have a good weekend everyone.
p.s called that short move right just didn't short it.. lol. i'm still working on that whole long term trading thing, PT. But its getting better day by day.
Take care.
I may start posting here exclusively again. Where I started off
Have a good weekend everyone.
p.s called that short move right just didn't short it.. lol. i'm still working on that whole long term trading thing, PT. But its getting better day by day.
Take care.
Be hopeful in a winning position, and fearful in a losing position.
- Post #66,173
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- Mar 1, 2013 8:02pm Mar 1, 2013 8:02pm
- | Joined Feb 2013 | Status: Member | 65 Posts
- Post #66,175
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- Mar 1, 2013 10:28pm Mar 1, 2013 10:28pm
- | Joined Feb 2013 | Status: Member | 65 Posts
- Post #66,176
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- Mar 3, 2013 4:04pm Mar 3, 2013 4:04pm
- | Commercial Member | Joined Jan 2013 | 1,169 Posts
If you remember I liked your call and I had a similar forecast (1.2900). The difference is that I played the swing. I only play swings... that's where the real money is.
GL
GL
Assuming the US does not vote to cut $85 billion this weekend, then I think we should see a good pull back to the long side.
I may start posting here exclusively again. Where I started off
Have a good weekend everyone.
p.s called that short move right just didn't short it.. lol. i'm still working on that whole long term trading thing, PT. But its getting better day by day.
Take care.
"markets traded by programs/HFT offer a significant trading edge..."
- Post #66,178
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- Mar 3, 2013 8:28pm Mar 3, 2013 8:28pm
- | Joined Feb 2013 | Status: Member | 65 Posts
- Post #66,179
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- Mar 3, 2013 10:33pm Mar 3, 2013 10:33pm
- | Joined Feb 2013 | Status: Member | 65 Posts
