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  • #865,981
  • Dec 27, 2013 3:20am Dec 27, 2013 3:20am
Quoting ffleo
{quote} when it drops below 3600 you get a reverse confirmation. if you are not confident with 3600, wait for it to drop below 3500
still not confident? wait for it to drop below 1.2740
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #865,982
  • Dec 27, 2013 3:20am Dec 27, 2013 3:20am
Quoting Chicky
{quote} I do not always follow him. However, he used to enter heavy at the very begining of a breakout dividing his position in three parts and then used to sit until trend exhausted. He always played trend reversals when a new trend started making hhs or lls. He used to get out at first sign of danger after entering, but sat tight for all retraces. This way his profits were huge and losses were small.
I did it once with a small account, I set 100 pips SL and I was buying every 50 pips up, every 100 pips gain I was trailing by 100 pips, I doubled my account in 3 weeks, keep in mind I was able to buy at the bottom of the retracement which I considered a bull market…She got there very quick.
Wherever you go, there you are.
  • #865,983
  • Dec 27, 2013 3:23am Dec 27, 2013 3:23am
Quoting milam
{quote} I did it once with a small account, I set 100 pips SL and I was buying every 50 pips up, every 100 pips gain I was trailing by 100 pips, I doubled my account in 3 weeks, keep in mind I was able to buy at the bottom of the retracement which I considered a bull market…She got there very quick.
According to his worksheets/logbooks, he bought second higher low in a new uptrend. He never pyramided. Just bought in three or four lots. People who think he used to pyramid postions need to re-read what he actually said.
The Thief of Wall Street
  • #865,984
  • Dec 27, 2013 3:26am Dec 27, 2013 3:26am
Quoting Chicky
{quote} According to his worksheets/logbooks, he bought second lower high in a new uptrend. He never pyramided. Just bought in three or four lots. People who think he used to pyramid postions need to re-read what he actually said.
Sounds similar to the way I trade Chicky.
rat
  • #865,985
  • Dec 27, 2013 3:27am Dec 27, 2013 3:27am
Quoting Chicky
{quote} According to his worksheets/logbooks, he bought second lower high in a new uptrend. He never pyramided. Just bought in three or four lots. People who think he used to pyramid postions need to re-read what he actually said.
ok…but I remember very well saying that he did not understand traders that were buying more when in negative, he said that he would buy more only when the books were showing profits…..anyway I could be wrong…..you know….the age..
Wherever you go, there you are.
  • #865,986
  • Dec 27, 2013 3:30am Dec 27, 2013 3:30am
Quoting rattyo
{quote} Sounds similar to the way I trade Chicky.
You should meet my third wife .................... she is his niece.
The Thief of Wall Street
  • #865,987
  • Dec 27, 2013 3:32am Dec 27, 2013 3:32am
Quoting Chicky
{quote} You should meet my third wife .................... she is his niece.
Naughty….
Wherever you go, there you are.
  • #865,988
  • Dec 27, 2013 3:33am Dec 27, 2013 3:33am
  •  Now
  • | Joined Aug 2006 | Status: 'I should have taken the money' | 654 Posts
Quoting kesk
I shorted on every rise and collected 5 pips each on 4 trades. All against the trend. Recklessness or plain stupid?

Both.
Being right is one, taking it from the table is two.
  • #865,989
  • Dec 27, 2013 3:37am Dec 27, 2013 3:37am
  •  Now
  • | Joined Aug 2006 | Status: 'I should have taken the money' | 654 Posts
Quoting sharif_pc
This crazy FOREX market ....about 100 pips up "for no apparent reason" !!.... this is a lesson that it's very dangerous to leave open trades overnight without stops.
These moves happen every time at years end.
Market positioning for the new year combined with low liquidity.
Stay out of this market unless you have experience with it.
Liquidity will only be back from the second week of January.
Then the maket will get back to its fundamentals.
Being right is one, taking it from the table is two.
  • #865,990
  • Dec 27, 2013 3:38am Dec 27, 2013 3:38am
  •  Now
  • | Joined Aug 2006 | Status: 'I should have taken the money' | 654 Posts
Quoting pbtec
Was a nice run. Time to start looking for shorts. I think the euro-bull party is coming to an end.

It might also just be taking a breather.
Being right is one, taking it from the table is two.
  • #865,991
  • Dec 27, 2013 3:40am Dec 27, 2013 3:40am
Quoting Chicky
{quote} According to his worksheets/logbooks, he bought second higher low in a new uptrend. He never pyramided. Just bought in three or four lots. People who think he used to pyramid postions need to re-read what he actually said.
Like what milam did, keep buying when market goes up, with a trailing stop, should work. Your position size only grows bigger when market goes in favor of you. Position size wont grow when market goes agaisnt you.

it works in a trendy, run away market. Does not work in a ranging market.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #865,992
  • Dec 27, 2013 3:41am Dec 27, 2013 3:41am
Quoting Now
{quote} These moves happen every time at years end. Market positioning for the new year combined with low liquidity. Stay out of this market unless you have experience with it. Liquidity will only be back from the second week of January. Then the maket will get back to its fundamentals.
This is best time to make new clients and get rid of old ones ................... my broker says.
The Thief of Wall Street
  • #865,993
  • Dec 27, 2013 3:45am Dec 27, 2013 3:45am
  •  Now
  • | Joined Aug 2006 | Status: 'I should have taken the money' | 654 Posts
Quoting magelordmojo
I went live with a real account today after about 12 months of watching Currently down nearly $4k on a $10k acaccount Years savings down the drain

Your call man.
Taking a loss or sitting on a potential bigger loss... .
Being right is one, taking it from the table is two.
  • #865,994
  • Dec 27, 2013 3:52am Dec 27, 2013 3:52am
But surely it has to come back to atleast 1.3750 within the next 24 hours
  • #865,995
  • Dec 27, 2013 3:53am Dec 27, 2013 3:53am
two trades for me today: +8.8, +1.8.

Both did not reached my initial TP by 0.5 pips. Well it has happened before and I am sure it will happen again. Done trading of the day.
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Wherever you go, there you are.
  • #865,996
  • Dec 27, 2013 3:53am Dec 27, 2013 3:53am
This is what it was all about. Penetrating 1.3800. It can now go anywhere. Good Luck. I am short until either 1.3815 or 1.3750
The Thief of Wall Street
  • #865,997
  • Dec 27, 2013 3:57am Dec 27, 2013 3:57am
  •  Now
  • | Joined Aug 2006 | Status: 'I should have taken the money' | 654 Posts
Quoting magelordmojo
But surely it has to come back to atleast 1.3750 within the next 24 hours

Possible yes, it might even drop 150 pips like a knife... Might touch 1.3850 before...
Being right is one, taking it from the table is two.
  • #865,998
  • Dec 27, 2013 3:57am Dec 27, 2013 3:57am
Quoting Chicky
This is what it was all about. Penetrating 1.3800. It can now go anywhere. Good Luck. I am short until either 1.3815 or 1.3750
There is a famous Cliche that goes by: Wait for the first, sell the second and buy the third ...

Quoting Now
{quote} Possible yes, it might even drop 150 pips like a knife... Might touch 1.3850 before...
So, the price is back at the top for you to short it again ? Why would price go back three times in a row to the same place it was sold at ?! It has been hovering under 1.38 with no signs of bears - at all !



*Anyway, Buying for intraday position could be emotionally easy with a stop just under 1.37880 ...
"It's the Margin, Stupid."
  • #865,999
  • Dec 27, 2013 3:58am Dec 27, 2013 3:58am
Quoting magelordmojo
But surely it has to come back to atleast 1.3750 within the next 24 hours
............. and you say you have been watching for 12 months! It is now time to learn from our mistakes. Save rest of your money until mid Feb.
The Thief of Wall Street
  • #866,000
  • Dec 27, 2013 4:02am Dec 27, 2013 4:02am
Quoting Vachus
{quote} There is a famous Cliche that goes by: Wait for the first, sell the second and buy the third ... {quote} So, the price is back at the top for you to short it again ? Why would price go back three times in a row to the same place it was sold at ?! It has been hovering under 1.38 with no signs of bears - at all ! *Anyway, Buying for intraday position could be emotionally easy with a stop just under 1.37880 ...

that is wierd. you just shouted big reversal a couple days ago and got laughed at by rattyo. you also questioned people going long with attila. now you flip your market bias so fast
ignore wackos and psychos, including myself. But I can't add myself to iggy
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