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  • #865,101
  • Dec 20, 2013 1:44am Dec 20, 2013 1:44am
it will cut 1,36 like a butter, long guys don't expect significant resistance
we will see 1,34xx until the end of the year
  • #865,102
  • Dec 20, 2013 1:57am Dec 20, 2013 1:57am
For what its worth EU has now broken below the 200day EMA on the 4H chart... I think that'll kill the upside thoughts for a while
  • #865,103
  • Dec 20, 2013 2:06am Dec 20, 2013 2:06am
FX RAT REPORTING FOR DUTY

Well currently sitting on my hands now.
Sold my swing shorts that I worked very hard
accumulating last week as I didn't think much
of yesterdays continuation daily candle. Still
don't think much of the downward move myself,
but that doesn't mean to say get long. Lets face it.
Its drifting down isn't it. But does RAT want to get
short here. Probably not a good idea seeing that's
its 35-40 points lower from nights U.S close so we
could easily see the London traders take it back up
there and squeeze RAT a little.

Short intra day 13580 looks a good target
Long Intra day looks a bit Kamikaze style

Sit on my hands a bit and watch.
rat
  • #865,104
  • Dec 20, 2013 2:13am Dec 20, 2013 2:13am
imo
368X first followed by 358x. But then we shall see how it plays
Keep the Lights on then you can catch the rise from the dark.
  • #865,105
  • Dec 20, 2013 2:25am Dec 20, 2013 2:25am
Restocking longs today. I entered one long position at 3665 yesterday and I would want to add another as close as possible to 3600.
  • #865,106
  • Dec 20, 2013 2:27am Dec 20, 2013 2:27am
Quoting Mr.MaginCole
Restocking longs today. I entered one long position at 3665 yesterday and I would want to add another as close as possible to 3600.
You know something we don't then?
rat
  • #865,107
  • Dec 20, 2013 2:27am Dec 20, 2013 2:27am
Quoting jabow
{quote} Ah but the trends on unemployment is down and existing home sales trends are up (excluding Nov & Dec which are normally down). {image}
S`up Jabow, hope ya waking up in great shape today.

We are saying the same thing but in different ways(i employed a tinge of sarcasm),and in different time-frames...ya know before Wednesday`s FOMC report...the US used to report some very good data but the Euro would shrug off and fly on(the most disconcerting of it being that of December NFP release day). but the situation yesterday vividly showed that the tables have turned(and that against the Euro) why do i think so? bcos when sentiment was up for the Euro,even a good US data and a bad Euro zone data put together couldn`t stop the Euro form climbing up. but yesterday the story changed in favor of the US dollar. so methinks that the trending economic improvements in the Us(such as you noted and showed a graphical representation for) is beginning a valuation process on the dollar.
  • #865,108
  • Dec 20, 2013 2:30am Dec 20, 2013 2:30am
Quoting Ken A
{quote} Mine is auto-mark {image}
nice trades.. now I understand your 500-pip-is-a-walk-in-the-park saying .. lol..

how and when do you scale in if I may ask?
Patience is a virtue...
  • #865,109
  • Dec 20, 2013 2:42am Dec 20, 2013 2:42am
Quoting Mr.MaginCole
Restocking longs today. I entered one long position at 3665 yesterday and I would want to add another as close as possible to 3600.

Why would you be so sure about longs that you would add more to losing position.ECB already made known they want Lower Euro and market is just looking excuse or "reason " to short hence tiny 10b Taper did the trick coupled with new year and US dollar showing signs of rebound I don't see the rational.
Holding my shorts all the way to 35 and GU shorts as well
In trading, you have to be defensive and aggressive at the same time
  • #865,110
  • Dec 20, 2013 2:45am Dec 20, 2013 2:45am
Quoting artocarpus
it will cut 1,36 like a butter, long guys don't expect significant resistance we will see 1,34xx until the end of the year
...or maybe like a water !? -)
  • #865,111
  • Dec 20, 2013 2:50am Dec 20, 2013 2:50am
Quoting Davit
{quote} Why would you be so sure about longs that you would add more to losing position.ECB already made known they want Lower Euro and market is just looking excuse or "reason " to short hence tiny 10b Taper did the trick coupled with new year and US dollar showing signs of rebound I don't see the rational. Holding my shorts all the way to 35 and GU shorts as well
lol.. isn't it the way you're trading?
Patience is a virtue...
  • #865,112
  • Dec 20, 2013 2:52am Dec 20, 2013 2:52am
Quoting kuroro001
Waiting for a new low for fresh demand, this one seems crap
We got our low inside 1.362x....but the thing is demand as already been consumed during NFP last time.

If no move above 1.3635/40 then 1.358x/9x fresh demand is next
COT: The precious data ignored
  • #865,113
  • Dec 20, 2013 2:58am Dec 20, 2013 2:58am
short 2 lot @3635 TP@3590 SL@3645
The more actions you take, the more errors you are bound to make.
  • #865,114
  • Dec 20, 2013 2:58am Dec 20, 2013 2:58am
Quoting Miguel.N
{quote} ...or maybe like a water !? -)

"Like a hot knife through butter" is what I think is meant?

At the moment it seems to be done the down move.
Can't see it moving through 136
rat
  • #865,115
  • Dec 20, 2013 3:04am Dec 20, 2013 3:04am
Quoting hadox
{quote} lol.. isn't it the way you're trading?

Yes and No
I set aside a budget say 2lots intended to short Euro
I break it 4-6 mini lots and average in the price.On casual observation it sure looks like adding to losing position however intend was averaging in 2lots all along.
Once all lots are invested then I don't add anymore hence I don't have any shorts above 37.
I hope this clarifies difference of adding to losing position and averaging in at different price levels to get overall better average price.Its a common technique specially in stocks.You might be asking where is my SL.My SL is my budget for Euro trade which was predetermined before entering once that is reached I have no issues taking a loss.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #865,116
  • Dec 20, 2013 3:11am Dec 20, 2013 3:11am
Quoting Davit
{quote} Yes and No I set aside a budget say 2lots intended to short Euro I break it 4-6 mini lots and average in the price.On casual observation it sure looks like adding to losing position however intend was averaging in 2lots all along. Once all lots are invested then I don't add anymore hence I don't have any shorts above 37. I hope this clarifies difference of adding to losing position and averaging in at different price levels to get overall better average price.Its a common technique specially in stocks.You might be asking where is my SL.My...
I take my hat off to your polite response. Btw, very interesting approach, do you explain more about it in your journal?
Best time to plant a tree was 20 years ago, second best is now
  • #865,117
  • Dec 20, 2013 3:14am Dec 20, 2013 3:14am
Quoting horuxito
{quote} I take my hat off at your polite response. Btw, very interesting approach, do you explain more about it in your journal?

I have lot of info there and do recommend reading
"Bird Watching in Lion Country"
Book is brilliant but not for everyone.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #865,118
  • Dec 20, 2013 3:15am Dec 20, 2013 3:15am
probably up 1 at 1,3656 then go down 1,338 is my final target
  • #865,119
  • Dec 20, 2013 3:15am Dec 20, 2013 3:15am
Quoting Davit
{quote} I have lot of info there and do recommend reading "Bird Watching in Lion Country" Book is brilliant
Thank you Davit. I started to read another recomm of yours, trade what you see, very refreshing.
Best time to plant a tree was 20 years ago, second best is now
  • #865,120
  • Dec 20, 2013 3:20am Dec 20, 2013 3:20am
Quoting horuxito
{quote} Thank you Davit. I started to read another recomm of yours, trade what you see, very refreshing.
The best thing you could do to help your trading is open a naked chart, and keep looking at it until you understand moves

I doubt a book about trading will help anyone, otherwise the whole world would be rich.
COT: The precious data ignored
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