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ETMA_The Evolution

  • #321
  • Oct 18, 2013 5:46am Oct 18, 2013 5:46am
Quoting tp0440
The "deal" in the US brought us also US$ rocket to the downside. Wow, EU, GU, AU.... everything went sky high. And it brought us back well over h4 and to d1 upper band. With regards to history, we are in strong resistance levels, but the move up was incredible. Any thoughts with regards to how to read this in ETMATE? BR

My humble take on this situation for a conservative trader is to stay in cash which is the best MRM (Money and Risk management) @ these present times.
When big fundamental risk events like these occurs we small traders better stay aside until the markets resume their normal action, that is for the conservative short term traders, aggressive traders can play this volatility and if they are skillful can turn it to their advantage with a rigorous attention to the news and their open positions but that takes a serious dedication and a complete screen time (imagine that the guys in Washington stayed up all night to complete the Debt ceiling deal) can u do the same in front of your charts waiting for every piece of news released that can trun a bear market to bull and vice versa.

As for the ETMATE like you all already know all risk currencies was signaling short before the Deal and here comes your risk management skills, i was short EU, GU and others but i was starting to move my trailing stop also to the lower high every time PA moved down so i was able to get out @ minimum damage on the EU (5 Pips loss and 13 Pips profit on the GU) even thought i was not convinced on the longer TF's of this bear move and on my other long term trend following accounts i was still long (And still til this moment) aiming @ the most crucial 37'sh Resistance level on the EU and waiting for a PA signal to get out.

I said it a million time and it happened in the past and it will happen in the Future, Nothing is sure in these Markets Hell even Jessy Livermore said that the Markets are designed to fool the Normal and not so financially educated folks who try to play it and i can't stress enough the most important risk management tool and the Importance of having a good R:R Ratio in your trades like @ least a 1:2-3.

This is my opinion and these are the thoughts and rules that i live by every day I'm in the Markets Trading.

Best
B.R.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh1_etmate.png Size: 173 KB
Master Your Setup, Master Your self. (NQoos)
  • #322
  • Oct 22, 2013 2:08am Oct 22, 2013 2:08am
Quality reading :
Things That Make You Go Hmmm...
Enjoy.
Master Your Setup, Master Your self. (NQoos)
  • #323
  • Edited 9:37am Oct 22, 2013 8:06am | Edited 9:37am
NFP on Tuesday, strange, and misses expectations also so no taper is close, here is a chart of the DX (Dollar) trying to recover from the most important multi support but the economic numbers still hammering him, @ least the Unemployment Rate ticked down to 7,2.
And the Indices specially the S&P is enjoying the ride to all time high.
EU Breaking his important resistance and heading higher, Gold and Silver are breaking their respective LH, Let's see if its gonna close higher.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: DX 12-13 (Daily) 21_08_2012 - 22_10_2013.jpg Size: 188 KB
Click to Enlarge Name: ES 09-13 (Daily) 26_06_2012 - 20_09_2013.jpg Size: 195 KB
Master Your Setup, Master Your self. (NQoos)
  • #324
  • Oct 22, 2013 1:24pm Oct 22, 2013 1:24pm
Guys,

Is there an EA to take profit on the opposite band?

Thx a million!
Life Is Good
  • #325
  • Oct 23, 2013 1:03am Oct 23, 2013 1:03am
Quoting bassramy
{quote} My humble take on this situation for a conservative trader is to stay in cash which is the best MRM (Money and Risk management) @ these present times. When big fundamental risk events like these occurs we small traders better stay aside until the markets resume their normal action, that is for the conservative short term traders, aggressive traders can play this volatility and if they are skillful can turn it to their advantage with a rigorous attention to the news and their open positions but that takes a serious dedication and a complete...

Thanks for the answer.
Staying in cash is definitely safe, but also means no bread on the table. In any case, intraday trading means, not being in position in time of big news. The rules of SL size just don't allow it. You have to be swing position trader to ignore such events.

Overall, this last move seems to be exaggerated although I was 99% sure, EU will break 2013 high. As it may be, this means longs are well supported and after pullback move up could resume.

What I'm worried about are indexes as the only thing keeping them up is QE. So, after it'll be suspended, we will have a new crisis on our hands.


BR
  • #326
  • Edited 12:13pm Oct 26, 2013 3:10am | Edited 12:13pm
Quoting tp0440
{quote} Thanks for the answer. Staying in cash is definitely safe, but also means no bread on the table. In any case, intraday trading means, not being in position in time of big news. The rules of SL size just don't allow it. You have to be swing position trader to ignore such events. Overall, this last move seems to be exaggerated although I was 99% sure, EU will break 2013 high. As it may be, this means longs are well supported and after pullback move up could resume. What I'm worried about are indexes as the only thing keeping them up is QE....
T., it our duty as traders to perfectly manage the only parameter that we control in the markets and it's RISK, we have to be snipers, alligators, to be successful in the long term, we can not be in the markets at all time, we should wait for the right setup to take a trade and that means being in cash and at the sideline sometimes, taking every trade that we see regardless of our strategies and rules is a sure way to margin call.

These latest fundamentals are a major league risk events, being in cash is the most intelligent and wise trading decision that we small traders could ever take.

That being said, I strongly think that if we have good setups that fulfill our strategies rules that we should be confident and dive in or take the shot in snipers language, but in these conditions and to control my risk I would downsize my position sizing until everything return to normal (and what is normal in the markets anyway).

It's my firm belief that these risk control strategies is what really puts food on the table in the long term.

Best,
B.R.
Master Your Setup, Master Your self. (NQoos)
  • #327
  • Oct 27, 2013 8:07am Oct 27, 2013 8:07am
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Master Your Setup, Master Your self. (NQoos)
  • #328
  • Oct 29, 2013 10:53am Oct 29, 2013 10:53am
Quality reading :
http://www.mauldineconomics.com/ttmygh/let-it-be-fiat-monkees-golden-beatles
Three Top-Shelf Economic Indicators Are Coming Out Today
Master Your Setup, Master Your self. (NQoos)
  • #329
  • Oct 30, 2013 7:26am Oct 30, 2013 7:26am
FOMC Day

10 Things You Need To Know Before The Opening Bell
New 'Wolf Of Wall Street' Trailer: Leonardo DiCaprio Is The Wealthiest Stockbroker In The World
Here's Your Ultra-Quick Preview Of Today's ADP Jobs Report
Here's The Only Preview You Need For Today's Federal Reserve Announcement
Markets Are Rising... Again
The US Navy's Most Intimidating Creation Yet Just Hit The Water

http://static.businessinsider.com/im...ng-by-2014.jpg
Master Your Setup, Master Your self. (NQoos)
  • #330
  • Edited 8:25am Oct 31, 2013 8:05am | Edited 8:25am
Essential reading for today :

10 Things You Need To Know Before The Opening Bell
Markets Are Down In Europe
The Bank Of Japan Raised Its Economic Outlook, But Analysts Aren't Buying It
Initial Jobless Claims Fall By Less Than Expected
STEVEN ENGLANDER: There May Be A Lot Further To Go In This Post-FOMC Sell-Off
The Euro Is Taking A Hit
15 Outrageous Scenes In 'Wolf Of Wall Street' We Can't Wait To See On Christmas Day

I like to mention also that i'm seeing these past 3-5 Trading business days signs of strong bearish divergences in Indices (S&P, Dow, Nasdaq, rusell, Dax ) so i'm watching very carefully these Asset classes for any signs of reversal and i tightened my SL also.

The new iPhone 6, very stylish and elegant with a 5 inch screen

http://static.businessinsider.com/im...e-same-too.jpg

Nothing to do with trading or the Markets but just Hmmm... Beautiful.
http://www.businessinsider.com/nikon...s-2013-2013-10
Master Your Setup, Master Your self. (NQoos)
  • #331
  • Nov 1, 2013 10:57am Nov 1, 2013 10:57am
Another ADR Day.
Attached Image
Master Your Setup, Master Your self. (NQoos)
  • #332
  • Edited 4:17am Nov 2, 2013 3:48am | Edited 4:17am
1 more proof that the Forex market is manipulated, read this and all the links inside.

Here's Everything You Need To Know About The Growing Investigation Into Rigging The Global Currency Market
Read more: http://www.businessinsider.com/regul...#ixzz2jTaVwFi9
Master Your Setup, Master Your self. (NQoos)
  • #333
  • Edited Nov 3, 2013 6:00am Nov 2, 2013 12:59pm | Edited Nov 3, 2013 6:00am
For what is worth, About sharing:
Keep Your Trades To Yourself
Master Your Setup, Master Your self. (NQoos)
  • #334
  • Nov 2, 2013 7:22pm Nov 2, 2013 7:22pm
Quoting bassramy
For what is worth, About sharing: Keep Your Trades To Yourself
Hi Bass

The link doesn't work.
what was this all about?

What's your view on EURUSD and USDJPY?

cheers
Have a nice day
  • #335
  • Nov 3, 2013 6:02am Nov 3, 2013 6:02am
Quoting billv
{quote} Hi Bass The link doesn't work. what was this all about? What's your view on EURUSD and USDJPY? cheers
Try it now.
I will post my view when I get back from the weekend to the office, thank you for asking.
Master Your Setup, Master Your self. (NQoos)
  • #336
  • Edited 6:08am Nov 4, 2013 4:43am | Edited 6:08am
After the last week horrible inflation data of the EURO, the currency collapsed on fear that a shift in policy and a more dovish ECB will cut rate, the ECB rate decision this week will be a critical event for euro price action both in the lead up and reaction, a change from a tightening stimulus effort to an expansive one can sink the euro much further across the market .

That being said, and as we all know in the Financial markets sentiment can shift in a blink of an eye, If we extended the correction from this past week up until the rate decision, a Rate hold in any form would likely see a speculative bounce on covering shorts or a correction higher. Alternatively, if the euro stalls through the first half of the week – a considerable probability as speculators are sidelined by the impending event risk – the euro may still be deemed richly priced and drop.

Technically speaking the drop was sharp after the testing of the Descending long term trendline and its being halted today by the long term Ascending trendline (or call it a channel), the Horizontal support and the 38.2 Fibo, a break of these levels were tested today and PA being strongly rejected and it seems like we are heading to a kind of a bullish pinbar forming @ the end of the day leaving the window open for a retracement higher that could extend to the 23.6 fibo or Horizontal resistance.

UJ and after being rejected from his long term ascending trendline support formed a hammer candlestick in the process and being bullish since, with the break of his Descending short term trendline resistance Friday the bull run is expected to continue for the time being, i can see 99.00 as a short term horizontal and trendline resistance and 100.581 as the long term one.

Best,
B.R.
Master Your Setup, Master Your self. (NQoos)
  • #337
  • Nov 4, 2013 5:23am Nov 4, 2013 5:23am
Hi Bass

Many thanks for your input, have you got any trades on?
Any potential setups?

cheers
Have a nice day
  • #338
  • Nov 4, 2013 5:36am Nov 4, 2013 5:36am
Quoting bassramy
For what is worth, About sharing: Keep Your Trades To Yourself

Bass, congrats on going solo. You have a trading method that makes sense, even after careful scrutiny. Your reading recommendations are also good for any serious trader. Keep up the good work.

Joe.
If you are good at something, never do it for free--Joker
  • #339
  • Nov 4, 2013 5:56am Nov 4, 2013 5:56am
Quoting billv
Hi Bass Many thanks for your input, have you got any trades on? Any potential setups? cheers
I've got trades in almost all my trading accounts :

  1. Commodities : - Gold, silver, CL (Crude oil)
  2. Indices (Futures) : - S&P Mini, Mini dow, Mini Nasdaq, Mini Dax, Mini Nikkei.
  3. Currencies : - All the Majors and a lot of trending crosses that i trade frequently.

As i said last week i'm seeing a lot of reversal signs and a strong divergences on the Indices Futures.
Here are some charts examples.

Enjoy.

Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpusdh1_etmate.png Size: 112 KB
Click to Enlarge Name: #ymz3daily.png Size: 66 KB
Click to Enlarge Name: #fdxz3daily.png Size: 64 KB
Master Your Setup, Master Your self. (NQoos)
  • #340
  • Nov 4, 2013 6:00am Nov 4, 2013 6:00am
Quoting jmn5611
{quote} Bass, congrats on going solo. You have a trading method that makes sense, even after careful scrutiny. Your reading recommendations are also good for any serious trader. Keep up the good work. Joe.

Thank you Joe, hope to see u more in here.
Master Your Setup, Master Your self. (NQoos)
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