Gordon Gekko's real-time Forex trading calls

40 pips trailing stops on all positions.

Close AUDUSD at 0.76916 (sold)

AUD-y dropping...

EUROUSD Short entry 1.0668.

COMPREHENSIVE PRINCIPIA

Cumulative list of MAJOR PRINCIPLES

Motto
1 Manage your losses first your winning positions will manage themselves
is certainly even more critical - so can be taken as Principle Number 0 ....


Principle
2 FIRST OBSERVE AND ANALYZE THE MARKET , then reach analytic and experimentally-founded conclusions.


3 The Ratchet principle or the one-way Turnstile
Original Post link
Consider a turnstile installed in the middle of a crowded passageway with a large number of people walking RANDOMLY in BOTH OPPOSITE DIRECTIONS. People can either walk avoiding it or go through the turnstile with one condition: the turnstile can rotate and move in only ONE DIRECTION
What happens is that DESPITE equal occurrence of two directions of flow of the Random Walkers ( Random Walk ... )
the turnstile will Prevent movement in un-wanted direction and allow the beneficial direction - thus it will ACCUMULATE MOVEMENTS in the wanted direction.
This is in analogy to CUTTING LOSSES SHORT-ER and allowing WINS for LONGER, .. good traders by making NON-random choices, biased in favor of allowing longer wins and shorter losses, become profitable. a ratchet


4 When PRICE DOES NOT SATISFY YOUR METHOD & SYSTEM - Do NOT ENTER. NOT, NOT NOT!
____________________________________________________________________________________________________
EarnPipsNow quote (link)
"Psychologically, it's hard to wake up each morning at 6 AM, spend like 10 hours in front of the computer screen and find absolutely nothing to do.
Or even worse, find a "trade" and still lose money!
But that's precisely what day-trading (and trading in general) is all about: long, tedious, boring hours waiting for that right moment.
It's also about doing nothing when there is nothing to do. This, of course, is the hardest part."

Legendary trader Jesse Livermore once said and I quote:
"And right here let me say one thing: After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!" (end of quote)



5 Randomness and Correlation in the Same Market
The market is NOT fully random. It has strong traits of randomness and strong traits of correlation and determinism (link).

Word "random" is heavily over-applied in discussions of market randomness.
Randomness+Determinism always Coexist in the same process.
E.g. the Air molecules in your room move both Randomly and deterministically, as trillions of them produce totally computable and predictable STATISTICAL effects of gas pressure and temperature.

In fact the researchers of "randomness" i.e. physicists, statisticians and mathematicians have developed many powerful methods of QUALIFYING and measuring the degree and balance between unexpectedness vs. determinism in random processes. E.g. stochastic processes describing the time-series analysis of price movements are remarkably DEPENDENT, that is, there is an observed correlation between sequence of earlier data already known and the data that occurs later for long periods...

Also, there are actually NO completely "random" events in the universe.
Neither a coin toss, nor a roulette spin are actually truly random.
Not only that, but the second fact has been dramatically proven (and rather painfully to casino owners, one should say) and still is being proved time and again by "interested observers" who beat roulette-operations by observing slight REGULARITIES in the outcomes.

Principle 6 CONSISTENCY

After having VERIFIED a system - STAY WITH SYSTEM !!!
Anything else is throwing the invested research, the verification and the invested work to the wind !
If it Earns you money THEN DON'T STRAY FROM IT !!

Short AUDUSD 0.7677

Closed EURUSD short. (bought at 1.0693) negative.

Enter SHORT EURUSD 1.0680

Closed AUD Short 0.76649, Bought. (Positive)

Closed Short GBPJPY 179.385 , Bought. (Negative)

Closed Short EURUSD 1.0662, Bought (Positive)

3 SHORT (s) Entries
GBPJPY 179.46
EURUSD 1.0664
AUDUSD 0.7642

at the moment all three negative P/E

Short NZD/CHF at 0.7334 (limit order), 33 pip stop.

What do you mean all negative, you just made 100 pips on the GBP/JPY, no?

Hey EarnyNowy we are beginning to develop telepathic talk !
Just a few moment before you made this post (and then I opened the thread again !) I have exited GBPJPY

Close Short GBPJPY at 178.189 (positive)

The order of actions is naturally this
1) Enter positions
2) Read their precise entry prices (for the posting only)
3) Open "reply to thread"
4) Post the entry prices and direction.

All this takes some time

BTW - was quite buisy, so now I post exits from AUD-y and EURUSD
Close Short AUD , bought at 0.76357 (positive

Close Short EURUSD, bought at 1.0652 (positive)

Both this exit and AUDUSD exit were in the middle of GBPJPY Loooong Ruun - so we've been naturally busy and quite averse to distractions

Howdy EarnyNow ?!

You are quite a people-manager (they teach at MBA courses of psychological manipulation of employees I know):
You've succeeded without much fuss to force me to publicly expose my trades - very unusual for me!!

TWO SHORTS
AUDUSD at 0.7637
EURUSD at 1.0659

SHORT GBPJPY 178.08

You short-ed GBPY/JPY again? It takes a lot of guts to do that. The GBP/JPY went down almost 200 pips in just a few hours (with hardly any pullback) so I guess some profit-taking activity is about to take place.

After all, London is about to close shop in less than 2 hours and the lucky short pound/yen traders from that city will probably cash their chips before hitting the pubs.

Closed THREE SHORTS
GBPJPY bought 178.18 (negative)
EURUSD bought 1.0660 (negative) & Shorted it again and got quite positive but too much detail

AUDUSD bought 0.7625 (Positive)

Shorted ALL THREE AGAIN
EXIT POSITIVE POSITIVE - very short time - less then a minute. So I'd spare you the details.

EarnNow you do have great Intuition Muscle.

GbpJpy seems to be getting into a Cruell reversion...

GETTING INTO THE REBOUND inside a Gigantic downside trend - I say That's where one needs steely balls and crystal CLARITY of understanding that he has to exit SOON - whether positive or negative result.

Too hot for me though

We all have our own trading style of course but it seems to me (unless I am mistaken) that you are opening and closing too many positions in a relatively short period of time.

In the long run and as you probably know, this type of activity will eat a significant portion of your profits and/or trading capital, via the spread.

FUNDAMENTAL SCALPING
First - Real Life Example (I've shorted again...)
GBPJPY Sold at 178.04 Bought 177.92 (Did too!!!)
Bit after closed that position, also Shorted AUD and had a negative, limited though.

Now - how can that be ??? - FUNDAMENTAL (high brow) and scalping for god's sake ?!
Scalping is often seen as lowly "size the day" approach - as the song goes "don't know nothing about history, has not heard about geometry"
Well... let me explain.

By the way, I do indeed agree with your disapproval of this approach, but only if it is used as constant method.
Indeed to quote EarnNow
"In the long run and as you probably know, this type of activity will eat a significant portion of your profits and/or trading capital, via the spread."
As is only too clear to all (me included)- when studying my daily and monthly broker statement, the robbery in broad daylight that these broker guys do to my earnings
really brings me frustration and irritation. IF one makes lots of trades - the the percentage that disappears as commissions and slippage - is dumbfounding and irritating.

But!
Today was an exceptional day - today fundamental factors and conditions manifest themselves in a strong way and rather short time - of a single day!!
Usually one day is much too short a time for fundamentals to play a visible role. But today was the rare occasion they did.

The reasons to it happenning are yesterday's spikes - those were OVERSHOOTS which happened because of algorithmic OVERREACTION to FOMC news.


HOWEVER - THE FUNDAMENTAL FACTORS AND CIRCUMSTANCES REMAINED THE SAME !!!
THEY DO NOT CHANGE SO FAST - THAT'S WHY THEY ARE CALLED FUNDAMENTAL !
I.E. PROBLEMS OF EUROZONE, STRENGTH IN US and SLUMP IN CHINA which projects itself upon the Australian trade and currency.


So I expected today to be a SIGNIFICANT RETURN TO AVERAGE because yesterday the "news crawler algorithms" had a field day after FOMC. At least partially.

And here comes the operational conclusion:
1 Today expect fast long movements in price - to correct closer to average.
2 Direction of correction is RETRACEMENT of OVERSHOOTS.

Therefore - fast adaptive method of trading with strong Bias for Shorting seemed appropriate. Specifically and solely because of such 'fundamental retracement day'.