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sonny winter's journal

  • #21
  • Jul 6, 2006 1:04pm Jul 6, 2006 1:04pm
My SHORT EURUSD position at 1.2720 is more of a medium to long term trade. But since about 1:00 AM (PST) this morning I've gotten several EURUSD "BUY" signals. I also trade the short term signals and have done pretty good today with them by going LONG and pyramiding several LONG trades so even if the SHORT position goes against me and takes out my stop I will maybe still be ahead.

Jokey
  • #22
  • Jul 6, 2006 1:47pm Jul 6, 2006 1:47pm
Quoting Purple
My stops in Euro were placed at 127.75 area, but I quickly removed them just before it was going to get trigerred.
Purp,

Shame, shame, bro...cardinal sin of trading is removing your stops.
  • #23
  • Jul 6, 2006 3:48pm Jul 6, 2006 3:48pm
Quoting mrmikal
Purp,

Shame, shame, bro...cardinal sin of trading is removing your stops.
Ya I know..
  • #24
  • Jul 6, 2006 10:28pm Jul 6, 2006 10:28pm
the original trade is still valid...wait
  • #25
  • Jul 6, 2006 10:32pm Jul 6, 2006 10:32pm
sir..i don't mind "picking the bottoms"...they are more often consolidations, requiring patience...my stop was intended to allow me to ride out the cosolidation to a lower level..short term it seems like a reversal, but longer term (patience) may reveal a greater truth...
good hunting my friend
  • #26
  • Jul 6, 2006 10:34pm Jul 6, 2006 10:34pm
sir this may be my only thread to your wonderful website...
  • #27
  • Jul 6, 2006 11:26pm Jul 6, 2006 11:26pm
Quoting sonnywinters
sir this may be my only thread to your wonderful website...
If you call him "sir" one more time, I'm gonna kick you in the head.
Mr. Trend
  • #28
  • Jul 6, 2006 11:37pm Jul 6, 2006 11:37pm
Quoting sonnywinters
sir..i don't mind "picking the bottoms"...they are more often consolidations, requiring patience...my stop was intended to allow me to ride out the cosolidation to a lower level..short term it seems like a reversal, but longer term (patience) may reveal a greater truth...
good hunting my friend
I don't think there is anything terribly wrong with deciding to do something. So I hope you didn't take offense. I was merely probing for answers as to your justification...which I'm sure you'll understand as well.

As for whether or not your trade is still valid...are you saying you DIDN'T get stopped out? or did you re-enter? If you DIDN'T get stopped out, then you did what purp did and ignored your stop recommendation...which, while understandable (since no one likes to lose), is a dangerous game to play. That's just my opinion, of course...

In any event, I still didn't get the jist of what your justification for the short was. Was it some cross? some support line broken? consolidation you thought was going in one direction? Just curious...not that we need an explanation if you're not willing to give it...

I merely ask that because I had a contradictory signal (support line hit) around the time you called for the short...that's why I also asked about your time horizon...mine was intraday...

Here's the thing I'm just a tad bit worried about...if NFP comes out and the number rocks, you're a hero...but if NFP fails to impress you're a goat. Are you in the trade still hoping that NFP will redeem the trade or is there something that I'm just missing on a fundamental level? It always helps to understand.
  • #29
  • Jul 7, 2006 5:17am Jul 7, 2006 5:17am
sir or madam ...you're right, smart money stands aside between trichet and nfp...this trade was put on before the ecb announcement...i believe those announcements that "shock" the market tend to be continuations of larger trends...as for the stops, i also give myself a little wiggle room in the exact stop loss since trendlines are a bit fuzzy...5-10 pips is not uncommon...sir?... i'll keep my polite demeanor if you please, since my mom also reads my posts...
  • #30
  • Jul 7, 2006 5:33am Jul 7, 2006 5:33am
Quoting Mr Trend
If you call him "sir" one more time, I'm gonna kick you in the head.
Yes Sir
JOHN 3:16
  • #31
  • Jul 7, 2006 7:01am Jul 7, 2006 7:01am
Quoting mrmikal

Here's the thing I'm just a tad bit worried about...if NFP comes out and the number rocks, you're a hero...but if NFP fails to impress you're a goat. Are you in the trade still hoping that NFP will redeem the trade or is there something that I'm just missing on a fundamental level? It always helps to understand.
So... Lets Pray for NFP hoping to came As expected
Charting Markets into the Future...MǎҖ€¥.
  • #32
  • Jul 7, 2006 7:17am Jul 7, 2006 7:17am
Quoting sonnywinters
sir or madam ...you're right, smart money stands aside between trichet and nfp...this trade was put on before the ecb announcement...i believe those announcements that "shock" the market tend to be continuations of larger trends...as for the stops, i also give myself a little wiggle room in the exact stop loss since trendlines are a bit fuzzy...5-10 pips is not uncommon...sir?... i'll keep my polite demeanor if you please, since my mom also reads my posts...
SW,

Sir will do just fine, thank you. I appreciate your the politeness. Remember, these posts are more inquisitive than belligerent. Hopefully by being challenged, you may reach some sort of self-validation.

As far as stops go...it really depends. 5-10 pip "wiggle" room may be common for some people, but for me, I normally stick with a predetermined point and allow 5-10 pips solely for slippage (something I really can't control).

I guess with NFP coming out in a few minutes, I have to bid you good luck, assuming you're still in the trade.
  • #33
  • Jul 7, 2006 7:30am Jul 7, 2006 7:30am
one man's slippage is another man's wiggle room..
  • #34
  • Jul 7, 2006 7:39am Jul 7, 2006 7:39am
Still in this trade?
  • #35
  • Jul 7, 2006 7:59am Jul 7, 2006 7:59am
Quoting mrmikal
Still in this trade?
That stop was obliterated. My "systems" showed EUR up on 1H and Daily and until I see otherwise i'm long. Not sure why you thought short but i'm sure you had your reasons. I may turn out to be wrong also
  • #36
  • Jul 7, 2006 8:04am Jul 7, 2006 8:04am
Quote
So... Lets Pray for NFP hoping to came As expected

Prayers and hope belongs in a church. They have no place in the markets. Trading decisions should be made on objective intellectual reasons, not gut feeling, hope or faith. I hope, on the other hand, that you kept risk small. Peace.
Always wait for the opportune moment… just be careful not to miss it.
  • #37
  • Jul 7, 2006 8:20am Jul 7, 2006 8:20am
Quoting fxvision
Prayers and hope belongs in a church. They have no place in the markets. Trading decisions should be made on objective intellectual reasons, not gut feeling, hope or faith. I hope, on the other hand, that you kept risk small. Peace.
LOL, am just joking , i respect your word "Prayers and hope belongs in a church. They have no place in the markets. "
Charting Markets into the Future...MǎҖ€¥.
  • #38
  • Jul 7, 2006 8:21am Jul 7, 2006 8:21am
LooL, good one then :
Always wait for the opportune moment… just be careful not to miss it.
  • #39
  • Jul 7, 2006 8:37am Jul 7, 2006 8:37am
Quoting jhathawa
That stop was obliterated. My "systems" showed EUR up on 1H and Daily and until I see otherwise i'm long. Not sure why you thought short but i'm sure you had your reasons. I may turn out to be wrong also
Actually, you quoted ME...I was actually long right around the time that this thread was started. That's why I decided to stick my head in to see what these guys were thinking.

The whole point of my line of questioning was to get a feeling for how confident they were that the EUR/USD was going down. I never got a sense of urgency, but when people say things like "hold shorts" and I'm not short...well, I need to know if there was something I did wrong.
  • #40
  • Jul 7, 2006 8:39am Jul 7, 2006 8:39am
Quoting fxvision
Prayers and hope belongs in a church. They have no place in the markets.
Jesus Christ didn't believe that. He went everywhere. In the markets. In the synagogues. In people's homes.

As a community of believers, we are everywhere. And we reflect Christ as a community and a family.

Church is there to unite the body of Christ together at a common time and place.

Quoting fxvision
Peace.
...and also with you.
Mr. Trend
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