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  • #161
  • Mar 17, 2015 8:34am Mar 17, 2015 8:34am
Quoting Ck87
{quote} Ya , doesn't look good for bulls right now.. let's go to new lows
WHo the hell is even bullish down here? Haha...


Added 2 more lots and bailed on the AUDJPY trade at b/e. It might've been alright, but I'd rather just stay focused on cable right now.

Biggest cable position ever for me.
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  • #162
  • Mar 17, 2015 8:43am Mar 17, 2015 8:43am
Quoting Zappa
{quote} WHo the hell is even bullish down here? Haha... Added 2 more lots and bailed on the AUDJPY trade at b/e. It might've been alright, but I'd rather just stay focused on cable right now. Biggest cable position ever for me. {image}
Nice... I've had a $300 a point position on cable before I think , ahha and I'm pretty sure it was near the f**ing highs!
  • #163
  • Mar 17, 2015 8:45am Mar 17, 2015 8:45am
Quoting Ck87
{quote} Nice... I've had a $300 a point position on cable before I think , ahha and I'm pretty sure it was near the f**ing highs!
Hopefully you were short!
  • #164
  • Mar 17, 2015 8:45am Mar 17, 2015 8:45am
Quoting Zappa
{quote} Hopefully you were short!
I was but I was over leveraged death to my account! Anyways, GU should technically make new lows on this leg no? Pretty sure EU should sell off soon..
  • #165
  • Mar 17, 2015 8:48am Mar 17, 2015 8:48am
Quoting Ck87
{quote} I was but I was over leveraged death to my account! Anyways, GU should technically make new lows on this leg no? Pretty sure EU should sell off soon..
Cable shorts looking good. I'd steer clear of EURUSD right now though. EURGBP found some buyers.
  • #166
  • Mar 17, 2015 8:54am Mar 17, 2015 8:54am
Quoting Zappa
{quote} Cable shorts looking good. I'd steer clear of EURUSD right now though. EURGBP found some buyers.
Yep EU screwing me right now, Saw this damn short covering rally coming too but friday fked me good. Eu should still pull back here and then i'll lighten up,.
GU sentiment Source: IG markets.
Ugh, looks like it's going to continue higher.
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  • #167
  • Mar 17, 2015 9:01am Mar 17, 2015 9:01am
Quoting Ck87
{quote} Yep EU screwing me right now, Saw this damn short covering rally coming too but friday fked me good. Eu should still pull back here and then i'll lighten up,. GU sentiment Source: IG markets. Ugh, looks like it's going to continue higher. {image}
Like I have learned (many, many times)---the early loss is the best loss. When you know your wrong, get out.
  • #168
  • Mar 17, 2015 9:03am Mar 17, 2015 9:03am
With that said, I am not sure one way or another where EURUSD is going right now.
  • #169
  • Mar 17, 2015 9:04am Mar 17, 2015 9:04am
Quoting Zappa
{quote} Like I have learned (many, many times)---the early loss is the best loss. When you know your wrong, get out.
EU can pull GU way higher now too, and we didn't make new lows,
  • #170
  • Mar 17, 2015 9:09am Mar 17, 2015 9:09am
Quoting Ck87
{quote} EU can pull GU way higher now too, and we didn't make new lows,
Don't see that happening at the moment.
  • #171
  • Mar 17, 2015 9:11am Mar 17, 2015 9:11am
Quoting Zappa
{quote} Don't see that happening at the moment.
Well it just did for 50+ pips off the lows, anyways EU rally has bearish volume all over it... very unlikely it won't get sold off, even if it does go a bit higher first
  • #172
  • Mar 17, 2015 9:15am Mar 17, 2015 9:15am
Quoting Ck87
{quote} Well it just did for 50+ pips off the lows, anyways EU rally has bearish volume all over it... very unlikely it won't get sold off, even if it does go a bit higher first
What's 50 pips when you're targeting over 700? You didn't think it was going to travel in a straight line, did you?
  • #173
  • Mar 17, 2015 9:16am Mar 17, 2015 9:16am
Quoting Zappa
{quote} What's 50 pips when you're targeting over 700? You didn't think it was going to travel in a straight line, did you?
Haha no, but it's preferred
  • #174
  • Mar 17, 2015 9:25am Mar 17, 2015 9:25am
Quoting Ck87
{quote} Haha no, but it's preferred
These little pullbacks are what cause traders to chicken out of their trade to "protect their gains". Now I'm all for protecting gains, as well, but you must let the market breathe! You must put stops in logical places, not just the nearest high/low on the 5 minute chart! You'll never get a big winner by doing that.

If you turn out to be wrong, and your gains are erased and replaced with a loss, then that loss should be small compared to what could have been gained. And if you find this worst-case scenario happening quite often THEN WORK ON BEING RIGHT about the direction. That part is the toughest, of course.
  • #175
  • Mar 17, 2015 10:11am Mar 17, 2015 10:11am
Quoting Zappa
{quote} These little pullbacks are what cause traders to chicken out of their trade to "protect their gains". Now I'm all for protecting gains, as well, but you must let the market breathe! You must put stops in logical places, not just the nearest high/low on the 5 minute chart! You'll never get a big winner by doing that. If you turn out to be wrong, and your gains are erased and replaced with a loss, then that loss should be small compared to what could have been gained. And if you find this worst-case scenario happening quite often THEN WORK...
Right on bro
  • #176
  • Mar 17, 2015 10:59am Mar 17, 2015 10:59am
Bears do NOT want to see a strong reversal from this spot.
  • #177
  • Mar 17, 2015 11:26am Mar 17, 2015 11:26am
OK, threat extinguished by bears once again. There's a good chance we see a quick move down soon.
  • #178
  • Mar 17, 2015 12:50pm Mar 17, 2015 12:50pm
Quoting Zappa
OK, threat extinguished by bears once again. There's a good chance we see a quick move down soon.
Pre-FOMC trade sort of a wild card... I'm expecting a push back up there at some point before FOMC... probably wrong, but now I want it to go higher so it's also wishful thinking
  • #179
  • Mar 17, 2015 2:24pm Mar 17, 2015 2:24pm
Quoting Ck87
{quote} Pre-FOMC trade sort of a wild card... I'm expecting a push back up there at some point before FOMC... probably wrong, but now I want it to go higher so it's also wishful thinking
Its possible, and you are right to be extra cautious pre FOMC. The market isn't hinting at that, IMO. I think we might see a sell-off to new lows before FOMC tomorrow. Maybe there will be some decent rally off new lows and then sideways until FOMC. I'm just not seeing any reason to get out of my position yet.
  • #180
  • Mar 17, 2015 2:29pm Mar 17, 2015 2:29pm
Quoting Zappa
{quote} Its possible, and you are right to be extra cautious pre FOMC. The market isn't hinting at that, IMO. I think we might see a sell-off to new lows before FOMC tomorrow. Maybe their will be some decent rally off new lows and then sideways until FOMC. I'm just not seeing any reason to get out of my position yet.
I see no reason for you to get out either, I think you should stay in it for a few months (if need be), We will certainly hit 1.4250 imo. I'm just a very active trader. It seems unlikely that we're going to get back up to 1.4850, it could tank really hard by tomorrow. Bears seem to be in full control.
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