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  • #851,301
  • Nov 7, 2013 7:54am Nov 7, 2013 7:54am
Watching the price action when we were down at 1.3300 earlier in the day makes me think there are some big buyers down there. While I currently hold a short bias, I am not convinced 1.3300 will be easy.
  • #851,302
  • Nov 7, 2013 7:54am Nov 7, 2013 7:54am
Quoting ffleo
{quote} no need for mods to ban you. many posters here can ban you for posting nonsense.
Ok, go ahead. I haven' finished trying all the forums yet.

The bounce is letting me get out of my longs at profit. Profit is strangely easy. All you have to do is wait for it. The shorts I am building will cancel out the remaining longs given time. I don't think the bounce will fully retrace today's dump.
  • #851,303
  • Nov 7, 2013 8:03am Nov 7, 2013 8:03am
some R at 3383/84... what happens next, is the question.
those who can, do. those who cant, talk about those who can
  • #851,304
  • Nov 7, 2013 8:06am Nov 7, 2013 8:06am
ES trading volume very high today compared to previous days,

Attached Image (click to enlarge)
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ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #851,305
  • Nov 7, 2013 8:08am Nov 7, 2013 8:08am
That long+short simmultaneously doesnt have to be nonscence ffleo. Check Math_GB, he is doing the same. Its just mathematics. Dunno how, but there are many ways to skin cat.
"I know one thing, that I know nothing." Sokrates
  • #851,306
  • Nov 7, 2013 8:12am Nov 7, 2013 8:12am
Quoting Tom_D_Trader
That long+short simmultaneously doesnt have to be nonscence ffleo. Check Math_GB, he is doing the same. Its just mathematics. Dunno how, but there are many ways to skin cat.
that is ok, i know the mathematics. he took a big short before the drop then a small long near the bottom. his small long is effectively to close part of his big short for taking partial profit. when he closes his small long is effectively to reload back to his big short.

his 100% winning is nonsense.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #851,307
  • Nov 7, 2013 8:15am Nov 7, 2013 8:15am
Dunno how bout rest of you shorts, but I kinda dont like it , not that I would expect break, but doesnt look nice. Ya know that traders mind pattern?
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"I know one thing, that I know nothing." Sokrates
  • #851,308
  • Nov 7, 2013 8:18am Nov 7, 2013 8:18am
ej long 132,176 tp 132,51 sl 132,00
  • #851,309
  • Nov 7, 2013 8:18am Nov 7, 2013 8:18am
Quoting zapiron
ej long 132,176 tp 132,51 sl 132,00
jurllll hahahah shit.
  • #851,310
  • Nov 7, 2013 8:20am Nov 7, 2013 8:20am
That should be it for EU retracement, should have been more patient waiting for this 1.3415 level.
  • #851,311
  • Nov 7, 2013 8:20am Nov 7, 2013 8:20am
Quoting Tom_D_Trader
That long+short simmultaneously doesnt have to be nonscence ffleo. Check Math_GB, he is doing the same. Its just mathematics. Dunno how, but there are many ways to skin cat.

i hear ya. if i was a multinational company with contracts in the ez and the u.s. it would make sense. then again i dont have widget contracts in both. so the reason for a need, dont exist. except the waste of tied up capitol. a small lose early, allows bigger gains later. or i could fool myself with the magic bs of no losses,,,, then again i just put on some new tires. or hitchhike on 4 flat tires.

Inserted Video
those who can, do. those who cant, talk about those who can
  • #851,312
  • Nov 7, 2013 8:22am Nov 7, 2013 8:22am
I've been a lurker for a long time. Posted occasional nonsense here and there.
What I'm more interested in than everyone's "predictions" and "reasons why those predictions are absolute crap," is the mindset that lead to that prediction in the first place. I mean, THREE out of 70 expert economists polled predicted correctly that the ECB would cut rates. I've learned to stop listening to "experts" long ago. But I love to hear WHY the market moved the way it did (explanations which are always conveniently available AFTER the market moves)

But I do care about how you guys prepare for the market and what you do to protect yourselves (other than the basic RR ratio and position sizing).


My question for today that goes along with what Gator and Tom is discussing.

To add or not to add to positions? When you decide to add to a same currency pair.
How many trades do you usually have open? Why?
When you add positions for the same (or related) pair, are you doing so b/c you don't want to take the loss yet on the previous trade?
How does FIFO affect you in this case? Have you run into alot of problems with this or is it typically just a matter of keeping track?
What are other reasons for adding to a trade? What rules do you follow when considering adding positions?


I'd love to hear thoughts from everyone, beginners and vets.
  • #851,313
  • Nov 7, 2013 8:26am Nov 7, 2013 8:26am
Attachment
let's try this one...
  • #851,314
  • Nov 7, 2013 8:27am Nov 7, 2013 8:27am
Quoting Ck87
That should be it for EU retracement, should have been more patient waiting for this 1.3415 level.
For today, probably, as it has now broken out of where the high-speed numbers traders finished selling and the slower participants started selling (this 1.3405 level). But the order book is still basically blank all the way up to 1.35 and you now have some losing shorts in the 1.3330-1.3370 range. October NFP more likely than not to print poorly just like ADP did given the shutdown so going short seems pretty dangerous to me. I'm gonna stay flat... not interested in the NFP coin flip game, but it could very well be a knee-jerk higher
  • #851,315
  • Nov 7, 2013 8:27am Nov 7, 2013 8:27am
Quoting ffleo
ES trading volume very high today compared to previous days, {image}
a little double top of spx
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ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #851,316
  • Nov 7, 2013 8:29am Nov 7, 2013 8:29am
Quoting ffleo
his 100% winning is nonsense.
It's only nonsense if you don't know how to read. Nobody can force you to close non-profitable trades but yourself. If you don't force yourself, you too will have 100% winners.

Before UK close is giving beautiful volatilities today. Now I am getting 100% winning closed JPY trades left and right.
  • #851,317
  • Nov 7, 2013 8:30am Nov 7, 2013 8:30am
Quoting Tom_D_Trader
Dunno how bout rest of you shorts, but I kinda dont like it , not that I would expect break, but doesnt look nice. Ya know that traders mind pattern? {image}
I see that but instead of the typical wax/wane balance, isn't the downmove the intended result of the ECB?
In that case, is it safe to assume that the retrace back into the 140 pip drop immediately following the rate cute should be minimal?
It does feel like there's alot of space for a strong move upwards though...
  • #851,318
  • Edited 8:46am Nov 7, 2013 8:31am | Edited 8:46am
Quoting ffleo
{quote} that is ok, i know the mathematics. he took a big short before the drop then a small long near the bottom. his small long is effectively to close part of his big short for taking partial profit. when he closes his small long is effectively to reload back to his big short. his 100% winning is nonsense.
i am doing opposite brother i hope you are right, because i love to be wrong, when iam wrong i learn some thing and it is a good business to learn few things with few $ loss especially in forex where we make 10's of $$ every day.
anyways made a lot of pips today again 500 pips trade EUR/USD EUR/JPY GOLD all long no selling waited for the dip and bought.
i trade only 1 direction i choose my direction according to fundamentals i know rate cut waoo every one thinks EURUSD will hit 1.20 but the fact is after the rate cut Export will boost cheap EUR will be good for Business and this si what EURo sone ants but average price should be 1.30-1.35 for now if goes below that will be undervalue and euro cannot be undervalued for long time and i plan my trades for long times for months trading one them and making very good profit more the n350% of my account is not bad actually.
Good Luck Guys
here is my new trades and dont forget i am still holding eurusd and eurjpy buy closed gbpjpy and audjpy and nzdjpy buy but holding eurjpy and eurusd
and added few more trades and and closed them and made 500 pips of 29 trades today. not bad 20-30 pips per trade not bad. and got my target of 200 pips per day even more double as usual doing fine.
Good Luck to you Guys and remember i saw post some one said about AUD that it is not moving with techncials remember that FUNDAMENTALS drive the market in long term not TECHNICALS.
Stay Tuned.
The Ones who make it, are the the ones who Manage RISK
  • #851,319
  • Nov 7, 2013 8:34am Nov 7, 2013 8:34am
Very large volume today

unsurprising but double the average since ECB
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  • #851,320
  • Nov 7, 2013 8:35am Nov 7, 2013 8:35am
Quoting gatorinla
i hear ya. if i was a multinational company with contracts in the ez and the u.s. it would make sense.
Dunno, its just mathematics. I aint saying it is a good trading plan, but imho can work. I can imagine it like this: You got consolidation range @ some support and expect it will go up 75% and down 25%, so you open 3 longs and one short with SL on breakzone. If you are right, you are rich, if not, short entry covers SL of those wrong longs. I really dont want to defend strategy I dont use and dont understand to, but as I ve said, many ways to skin a cat, and mathematics can be powerfull tool. Though needed to say here, that for range break, options would be more suitable tool.
"I know one thing, that I know nothing." Sokrates
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