Gordon Gekko's real-time Forex trading calls | Page 19 | Forex Factory

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Gordon Gekko's real-time Forex trading calls

  • #361
  • Mar 30, 2015 2:46pm Mar 30, 2015 2:46pm
Quoting Isingh
Don't Ask Also AUDUSD FALLING like a stone, yet too afraid to short it.
Don't let the outcome of any particular trade bother you Insigh. As long as we keep our losses small and under control we will do just fine.
Each losing trade is an opportunity to learn
  • #362
  • Mar 30, 2015 3:22pm Mar 30, 2015 3:22pm
Quoting Isingh
One Should mention also the mirror opposite - when a downward hammer is DISrespected by rising price.
True. It takes a lot of buying interest to break through a shooting star.
Each losing trade is an opportunity to learn
  • #363
  • Mar 30, 2015 3:25pm Mar 30, 2015 3:25pm
Forgot to post

EXIT Short EURUSD bought 1.0812 (+)
Had been too focused on other matters.
Siddhartha G
  • #364
  • Mar 30, 2015 3:26pm Mar 30, 2015 3:26pm
Quoting EarnPipsNow
{quote} Don't let the outcome of any particular trade bother you Insigh. As long as we keep our losses small and under control we will do just fine.
Thanks - that is a very needed succor when
one MUST ACCEPT THE LOSS - AND WIN THE TRADING.
BTW I have Not shorted in weakness of AUDUSD - and was right on. It is re-rising now.
Siddhartha G
  • #365
  • Mar 30, 2015 3:34pm Mar 30, 2015 3:34pm
Buying CHF/JPY at 124.20, 45 pip stop.
Each losing trade is an opportunity to learn
  • #366
  • Mar 30, 2015 3:36pm Mar 30, 2015 3:36pm
Quoting EarnPipsNow
Buying CHF/JPY at 124.20, 45 pip stop.
This is (IMO) one hot-potato of a pair...

Am I right about it's breath-taking abrupt moves, or you don't think so ?
Siddhartha G
  • #367
  • Mar 30, 2015 3:45pm Mar 30, 2015 3:45pm
Quoting Isingh
{quote} This is (IMO) one hot-potato of a pair... Am I right about it's breath-taking abrupt moves, or you don't think so ?
The CHF is erratic sometimes yes. On the other hand, the Yen usually respects support/resistance lines and trendlines. So let's see...
Each losing trade is an opportunity to learn
  • #368
  • Mar 30, 2015 3:52pm Mar 30, 2015 3:52pm
Quoting EarnPipsNow
The most important thing is to keep losses small and manageable.
Managing/dealing-with losses and NEVER letting any single loss get out of control is what trading is all about. A 400 pip loss always starts with a 40 pip loss.
Telling Myself
Study it, Memorize and Fanatically Religiously APPLY !!!
Siddhartha G
  • #369
  • Edited 4:26pm Mar 30, 2015 4:11pm | Edited 4:26pm
Quoting Isingh
{quote} Telling Myself Study it, Memorize and Fanatically Religiously APPLY !!!
By the way, if you want to read a fantastic book on trading psychology I strongly suggest you order this one : "Trade Mindfully: Achieve Your Optimum Trading Performance with Mindfulness and Cutting Edge Psychology (Wiley Trading) by Gary Dayton, Psy.D. (5 stars on Amazon).

This book is way beyond the usual BS we find on the regular trading psychology books!
Each losing trade is an opportunity to learn
  • #370
  • Mar 30, 2015 4:39pm Mar 30, 2015 4:39pm
Quoting EarnPipsNow
Buying CHF/JPY at 124.20, 45 pip stop.
Setting stop to 20 pips.
Each losing trade is an opportunity to learn
  • #371
  • Mar 30, 2015 4:41pm Mar 30, 2015 4:41pm
Thanks! Have obtained the file already - I most certainly will Read it.
Siddhartha G
  • #372
  • Mar 30, 2015 4:44pm Mar 30, 2015 4:44pm
Quoting Isingh
Thanks! Have obtained the file already
Oh I see, you "borrowed" it from the local "library", eh?
Each losing trade is an opportunity to learn
  • #373
  • Mar 30, 2015 4:52pm Mar 30, 2015 4:52pm
Sir , are you familiar with simple computations enabling to "rewrite" messages...
Well I PM u later if u want a "covered call' and a simple arithmetic you can "uncover" and see the library I use.
Siddhartha G
  • #374
  • Mar 30, 2015 4:56pm Mar 30, 2015 4:56pm
Cheeeeze
My broker entered a "settlement period" and caught me with Huge spread on scandi position (profitable) which I've meant to close....
Called them - got: "we can't advise client on a trade" When will "settlement" end ? "approximately 20 minutes"
And Not approximately ? "We can't say" Cheeeeeeee-eeeezzzz...

BTW had to reduce Risk
CLOSE Short GBPJPY Buy 177.79 (-)
Siddhartha G
  • #375
  • Mar 30, 2015 5:03pm Mar 30, 2015 5:03pm
Quoting EarnPipsNow
Buying CHF/JPY at 124.20
Another shooting star at resistance level. Great, just what I needed.
Attached Image (click to enlarge)
Click to Enlarge Name: chf_jpy_5.jpg Size: 131 KB
Each losing trade is an opportunity to learn
  • #376
  • Mar 30, 2015 5:08pm Mar 30, 2015 5:08pm
Quoting Isingh
Cheeeeze My broker entered a "settlement period" and caught me with Huge spread on scandi position (profitable) which I've meant to close.... Called them - got: "we can't advise client on a trade" When will "settlement" end ? "approximately 20 minutes" And Not approximately ? "We can't say" Cheeeeeeee-eeeezzzz... BTW had to reduce Risk CLOSE Short GBPJPY Buy 177.79 (-)
Don't mess with the exotics after the New York close, especially between 5 and 7 PM (NY Time), the spread is deadly.
Each losing trade is an opportunity to learn
  • #377
  • Edited 5:21pm Mar 30, 2015 5:08pm | Edited 5:21pm
As always - with the small retail-trader safely off their back, the MM-s IMMEDIATELY move the price in MY-just-closed-trade's direction. (observe GBPJPY...)

Business as usual

P.S. Edit - Same thing occurring (after my exit) on the scandi
Siddhartha G
  • #378
  • Mar 30, 2015 5:11pm Mar 30, 2015 5:11pm
Quoting Isingh
As always - with the small retail-trader safely off their back, the MM-s IMMEDIATELY move the price in MY-just-closed-trade's direction. (observe GBPJPY...) Business as usual
The market makers love to play tricks during the Asian session...
Each losing trade is an opportunity to learn
  • #379
  • Mar 30, 2015 5:18pm Mar 30, 2015 5:18pm
Quoting EarnPipsNow
{quote} Another shooting star at resistance level. Great, just what I needed. {image}
EarnNow as we are both leaning to the analytic: let us commence to try to analyze the
Tried and True "folk omens" of market weather.

What , in your view, provides the relative predictive value of such rapid reversals i.e. Shooting Star, Hammer(s), Up-n-Down Pair and such?
I've already posed this topic before, btw.

Is it the fact that Residual sizeable short positions remain of the big players or they still keep them as broker-side orders?

[ Will be VERY Much obliged if you post your answer both here an in My New Thread Thanks !]

Good Night !
Siddhartha G
  • #380
  • Mar 30, 2015 5:31pm Mar 30, 2015 5:31pm
In and of itself a shooting star has little predictive value. Just like with all candlesticks formations, the context is very important.
For example, a huge hammer at support level is more powerful than a hammer located somewhere else.

The big players are always probing support and resistance areas and will often issue a big order (long or short) just to test these levels. This activity is what usually creates those quick reversal patterns.
Each losing trade is an opportunity to learn
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