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  • #790,521
  • Apr 22, 2013 11:14am Apr 22, 2013 11:14am
Quoting Tom_D_Trader
{quote} Sure it works. It is the very base of my trading system. I mean Tom waves . In fact it is nothing less than psychological analysis. You see, I consider market beeing conscious. Yeah, I am nuts. And ehh, quite hard to explain it in english, but lets say, if market is living beast, you can somehow examine its pulse, or life rythm, if you wish. And this is where Elliot joins the party. Those waves we see in charts are result of energetic shocks to the market. These energetic shocs come from fundamental news, but since insider trading is here,...

I'll gladly listen to what you have to say.

Thanks

And catch you later!
COT: The precious data ignored
  • #790,522
  • Apr 22, 2013 11:27am Apr 22, 2013 11:27am
Short @46

Reason:

PA dropped below 5 SMA RSI3 under 50

Also HSR at 50 is tough.

Still have long @48 so Ms Market can pip me either way....
Trade smaller than rational because the market is irrational...
  • #790,523
  • Apr 22, 2013 11:36am Apr 22, 2013 11:36am
Quoting gatorinla
whats next 3209.8 or 2964? if 3148 is true, then 3209 should be,, 3226 is a untouched mid.
not true
2964?
waiting for a 3096 bounce to S.. s/l above 3128...if all looks correct then, i will enter.. with a small s/l..
if its a 2 humper. the last bounce to 3046+ may be enough.. i am waiting for the better r/r..
those who can, do. those who cant, talk about those who can
  • #790,524
  • Apr 22, 2013 11:57am Apr 22, 2013 11:57am
closed longs:local high3055 closed 3055 and then quick short
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  • #790,525
  • Apr 22, 2013 11:57am Apr 22, 2013 11:57am
EUR shorts continued to retreat – Rabobank

The single currency remains in the negative ground on Monday, hovering over 1.3050 after hitting session highs around 1.3085 on the Italian election results.

According to the last CFTC COT report, Strategist Jane Foley at Rabobank argued that investors continued to scale back their EUR short positions last week. “EUR/USD remains above the 1.30 handle but speculation about the possibility of an ECB rate cut fueled by comments from Weidmann still lingers”, added Foley.

Regarding the greenback, the expert commented, “USD longs fell slightly again this week but in a historical context they remain strong”.
Trade smaller than rational because the market is irrational...
  • #790,526
  • Apr 22, 2013 12:02pm Apr 22, 2013 12:02pm
Quoting EuroTraderJD
EUR shorts continued to retreat – Rabobank The single currency remains in the negative ground on Monday, hovering over 1.3050 after hitting session highs around 1.3085 on the Italian election results. According to the last CFTC COT report, Strategist Jane Foley at Rabobank argued that investors continued to scale back their EUR short positions last week. “EUR/USD remains above the 1.30 handle but speculation about the possibility of an ECB rate cut fueled by comments from Weidmann still lingers”, added Foley. Regarding the greenback,...
Thank you
"It is not enough to have a good mind; the main thing is to use it well"
  • #790,527
  • Apr 22, 2013 12:02pm Apr 22, 2013 12:02pm
Quoting kuroro001
{quote} To me it's bullish....waiting for the run up now. I'll skip the bearish part and concentrate on the bullish one, at least until we reach 1,3100
It maybe bullish but probability in consolidation mode at this time of the day.

I am long and short within 2 pips so I will see pips regardless and can always reenter.
Trade smaller than rational because the market is irrational...
  • #790,528
  • Apr 22, 2013 12:04pm Apr 22, 2013 12:04pm
When is the short interest report issued? Weekly, daily?

Thx
"It is not enough to have a good mind; the main thing is to use it well"
  • #790,529
  • Apr 22, 2013 12:07pm Apr 22, 2013 12:07pm
Quoting QuikFlipp
When is the short interest report issued? Weekly, daily? Thx
COT is released on Friday afternoons
Trade smaller than rational because the market is irrational...
  • #790,530
  • Apr 22, 2013 12:09pm Apr 22, 2013 12:09pm
Quoting EuroTraderJD
{quote} It maybe bullish but probability in consolidation mode at this time of the day. I am long and short within 2 pips so I will see pips regardless and can always reenter.
How would you clean up the positions if say you closed the one in profit (long), but then PA carried on in that direction (long) ?
  • #790,531
  • Apr 22, 2013 12:10pm Apr 22, 2013 12:10pm
Quoting EuroTraderJD
{quote} COT is released on Friday afternoons

I expect the short interest will be shown to have increased this week.
Thank you for the reply.

I enjoy reading these posts in here...some expect a bullish move to 1.31XXX others a test of 1.3. And this posting opinions is truly reflected in the EU PA lol

BTW, that pop about hour ago, nothin more than short covering, dont get trapped going long up at these levels. Just my 55 cents
"It is not enough to have a good mind; the main thing is to use it well"
  • #790,532
  • Apr 22, 2013 12:11pm Apr 22, 2013 12:11pm
Quoting EuroTraderJD
My long @48 is starting to smile. Glad I didnt use a SL. 30M PA may provide demand zone at 43 so We will see if it turns to green pips on a blast through Also glad that I followed the MM Price Saturation Zone and didnt add another short on top of the one I have @1.2990. Even though the indos at the time said Ms Market is going down. She ALWAYS laughs at what I think and sometimes plays tricks on the indos. MM is the only constant...
My long at 3138 aren't smilling. I should used a SL at 3100. Interest rate rumor is holding my margin busy....

A lot of times I have saved the position with removing the SL and wait to come back, but sometimes even if is comming back : the not available to trade at full position or the only one direction to trade sometimes can be higher damage to my Equity than an 5% DD, eg missing an 5% DD and a 10% run up.

With 2 accounts : one for shor one for long not really happs. I am trading from MT4 mobile, than I need 2 devices to not forget the positions


Would you close that shit now?
I want to buy PATIENCE
  • #790,533
  • Apr 22, 2013 12:12pm Apr 22, 2013 12:12pm
The 1hr chart shows this continued pattern of downward pressure from the MA's, just a matter of time now until te next set of shorts enter and drive this back to day lows.

Just my opinion, no attacks please
"It is not enough to have a good mind; the main thing is to use it well"
  • #790,534
  • Apr 22, 2013 12:14pm Apr 22, 2013 12:14pm
Quoting matheszabi
{quote} My long at 3138 aren't smilling. I should used a SL at 3100. Interest rate rumor is holding my margin busy.... A lot of times I have saved the position with removing the SL and wait to come back, but sometimes even if is comming back : the not available to trade at full position or the only one direction to trade sometimes can be higher damage to my Equity than an 5% DD, eg missing an 5% DD and a 10% run up. With 2 accounts : one for shor one for long not really happs. I am trading from MT4 mobile, than I need 2 devices to not forget...
I use MT4....are you saying you cant hedge your position?
I have found that by not usingstop loss on EVERY trade i have more winners than losers....but this has not been backtested LOL
"It is not enough to have a good mind; the main thing is to use it well"
  • #790,535
  • Apr 22, 2013 12:18pm Apr 22, 2013 12:18pm
Quoting QuikFlipp
{quote} I use MT4....are you saying you cant hedge your position? I have found that by not usingstop loss on EVERY trade i have more winners than losers....but this has not been backtested LOL
Stupid oanda doesn't allow hedge even at eu section , where is permited by law
I want to buy PATIENCE
  • #790,536
  • Apr 22, 2013 12:19pm Apr 22, 2013 12:19pm
Quoting matheszabi
{quote} Stupid oanda doesn't allow hedge even at eu section , where is permited by law
i used them before, that stinks

Switch to MT4 platform, much more trader friendly (my opinion)

GL.
"It is not enough to have a good mind; the main thing is to use it well"
  • #790,537
  • Apr 22, 2013 12:21pm Apr 22, 2013 12:21pm
Quoting cspip
{quote} How would you clean up the positions if say you closed the one in profit (long), but then PA carried on in that direction (long) ?
In the vast majority of cases I let the indos tell me.

I have a 2 strikes rule. If the PA violates the 5 SMA and/or the 15 SMA that is one/two strikes against the trade. If the RSI3 goes under 50 then that is another.

For example in my sub account I have longs only. The most current one is @48.

Lets say the PA goes up to 65 and then the 5SMA catches up and at some point the PA goes under the 5 SMA. That is Strike 1.

What if the PA stays under the 5SMA and the RSI3 goes under 50...?

Strike #2 and I am out.

Please remember brother I hyper scalp and use the 10M chart.

Can always renter at a better price.

Now for my short @46 I will keep it because its OTM and the odds are nearly 100% that Ms Market will visit this level at some point.
Trade smaller than rational because the market is irrational...
  • #790,538
  • Apr 22, 2013 12:24pm Apr 22, 2013 12:24pm
Quoting QuikFlipp
{quote} i used them before, that stinks Switch to MT4 platform, much more trader friendly (my opinion) GL.
Oanda will not allow in MT4 either.

MT4 is made for Windows, I am poor only a mac I have qnd there isn't friendly .
Using phones and tablets instead.
I want to buy PATIENCE
  • #790,539
  • Apr 22, 2013 12:24pm Apr 22, 2013 12:24pm
Quoting QuikFlipp
{quote} Thank you
You are welcome brother. I thought this news flash may be relevant to us.
Trade smaller than rational because the market is irrational...
  • #790,540
  • Apr 22, 2013 12:26pm Apr 22, 2013 12:26pm
Quoting matheszabi
{quote} My long at 3138 aren't smilling. I should used a SL at 3100. Interest rate rumor is holding my margin busy.... A lot of times I have saved the position with removing the SL and wait to come back, but sometimes even if is comming back : the not available to trade at full position or the only one direction to trade sometimes can be higher damage to my Equity than an 5% DD, eg missing an 5% DD and a 10% run up. With 2 accounts : one for shor one for long not really happs. I am trading from MT4 mobile, than I need 2 devices to not forget...
Asking advices about closing a position is not good.
Only you can decide what to do.

As you can see there are half short and half long in here.

I'm eyeing a higher move, while some other are eyeing a down move.

You have a few choices to do, reduce the position (by closing a few), close the whole thing, put a stop before being MC or keep it and pray for a move up.

I guess when you took the trade in the first place it was for a specific reason ? Has the reason changed ?
COT: The precious data ignored
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