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Mr. Scott's Crayon Thread

  • #1,901
  • Jun 15, 2015 10:10am Jun 15, 2015 10:10am
Quoting Mr. Scott
Ga trade today... {image}
Hi Mr. Scott, sorry I cannot see the trade
Fix up, trade sharp ...
  • #1,902
  • Jun 15, 2015 10:15am Jun 15, 2015 10:15am
Quoting itsallover
{quote} ,, oh good ,,, because I'm hoping to go long GC
To be honest.Stay away from crosses until you master the majors.After almost 4years I still don't and rarely trade crosses.
Moves on crosses can be dramatic. On EU spike could be manageable 20pips but on EN EA could be 40-60pips.So if you place wider stop then your losses are getting big.Do you see where I am going with this?Its about managing losses not profits.

I traded almost 95% UC from Jan to May almost exclusively averaging 10+% a month.So its not about how many pairs one trades.
regards
In trading, you have to be defensive and aggressive at the same time
  • #1,903
  • Jun 15, 2015 10:17am Jun 15, 2015 10:17am
Quoting Hickson
{quote} Hi Mr. Scott, sorry I cannot see the trade
Sorry hicks, that pattern was set up, short AU, long gu, au closed for a few, Gu running.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #1,904
  • Jun 15, 2015 10:20am Jun 15, 2015 10:20am
Short GU 5589
R38
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 33 KB
In trading, you have to be defensive and aggressive at the same time
  • #1,905
  • Jun 15, 2015 10:26am Jun 15, 2015 10:26am
Quoting Davit
{quote} To be honest.Stay away from crosses until you master the majors.After almost 4years I still don't and rarely trade crosses. Moves on crosses can be dramatic. On EU spike could be manageable 20pips but on EN EA could be 40-60pips.So if you place wider stop then your losses are getting big.Do you see where I am going with this?Its about managing losses not profits. I traded almost 95% UC from Jan to May almost exclusively averaging 10+% a month.So its not about how many pairs one trades. regards

I'm watching 14 pairs at the moment. I'm trading a miniscule account which can handle these large spikes ,,,, but,,,, when I start trading a bigger account then I will review the pairs to trade .
For now, I need to see if the way I'm trading is suitable for all currency pairs.

I'll also make a note of how much I'm averaging a month,,, so thanx Davit
.... laughing all the way to the bank
  • #1,906
  • Jun 15, 2015 10:37am Jun 15, 2015 10:37am
Quoting Davit
Short GU 5589 R38 {image}
Good luck Davit, out now. Have another pattern daily slightly higher, see what happens....
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4615.jpg Size: 269 KB
The world you desire can be won. It exists.. it is real.. it is possible..
  • #1,907
  • Jun 15, 2015 10:52am Jun 15, 2015 10:52am
Scott thanks!

spike down on AUgot 2 shorts on it
lets see if it continues
In trading, you have to be defensive and aggressive at the same time
  • #1,908
  • Jun 15, 2015 10:53am Jun 15, 2015 10:53am
EURO-ZONE COUNTRIES REACH GREECE EMERGENCY PLAN: SUEDDEUTSCHE...the plan is to impose capital controls if no deal by the weekend
Wooooohooooo or Boooooohooooo
  • #1,909
  • Jun 15, 2015 10:59am Jun 15, 2015 10:59am
Quoting Davit
Scott thanks! spike down on AUgot 2 shorts on it lets see if it continues
I'm waiting to short AU too
.... laughing all the way to the bank
  • #1,910
  • Jun 15, 2015 11:07am Jun 15, 2015 11:07am
Quoting Mr. Scott
{quote} Sorry hicks, that pattern was set up, short AU, long gu, au closed for a few, Gu running.
Never mind, you have every right not to post trades of course. Nice chart though!
Fix up, trade sharp ...
  • #1,911
  • Jun 15, 2015 11:07am Jun 15, 2015 11:07am
Quoting itsallover
{quote} ,,, I'm terrified of Gold
Am carefull with that thingie, but think now got pretty much undervaluated due to that massive move in Nikkei. Was a neg correlation and think Asia repositioned from gold and JGBs into Japan stocks. + with Oil bounce am speculating on the end of USD bull run, and with global QE race, no matter gold is barbarian relic, feels kinda safe, cant help myself. But overall am mostly GBP long, Xau is smaller part of portfolio now @ 21 % but will deleverage partials 1194,371 and then just wait if it works.
"I know one thing, that I know nothing." Sokrates
  • #1,912
  • Jun 15, 2015 11:11am Jun 15, 2015 11:11am
Quoting Tom_D_Trader
{quote} Am carefull with that thingie, but think now got pretty much undervaluated due to that massive move in Nikkei. Was a neg correlation and think Asia repositioned from gold and JGBs into Japan stocks. + with Oil bounce am speculating on the end of USD bull run, and with global QE race, no matter gold is barbarian relic, feels kinda safe, cant help myself. But overall am mostly GBP long, Xau is smaller part of portfolio now @ 21 % but will deleverage partials 1194,371 and then just wait if it works.

,,, glad your Gold is doing well Tom
.... laughing all the way to the bank
  • #1,913
  • Jun 15, 2015 11:14am Jun 15, 2015 11:14am
It looks like I won't get a chance to trade GC as I have a class in 45 mins. I'm in AU short so I guess thats me done for today.

Lots of pips to all!!!!!
.... laughing all the way to the bank
  • #1,914
  • Jun 15, 2015 11:16am Jun 15, 2015 11:16am
Quoting Hickson
{quote} Never mind, you have every right not to post trades of course. Nice chart though!
I did buddy, AU not captured, only good for a few but I took long gu and short au based on ga chart, as had missed gu bat this morning and that was my reason for entry. Was looking for more au but closed on pa, let gu run and closed on pattern.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #1,915
  • Jun 15, 2015 11:17am Jun 15, 2015 11:17am
Quoting Tom_D_Trader
{quote} Am carefull with that thingie, but think now got pretty much undervaluated due to that massive move in Nikkei. Was a neg correlation and think Asia repositioned from gold and JGBs into Japan stocks. + with Oil bounce am speculating on the end of USD bull run, and with global QE race, no matter gold is barbarian relic, feels kinda safe, cant help myself. But overall am mostly GBP litong, Xau is smaller part of portfolio now @ 21 % but will deleverage partials 1194,371 and then just wait if it works.

itsallover and tom

don't be scared of gold.....its very predictable but need to be very careful of just using small lots

oil should shoot higher with summer and isis issue...
Wooooohooooo or Boooooohooooo
  • #1,916
  • Jun 15, 2015 11:18am Jun 15, 2015 11:18am
Quoting itsallover
{quote} ,,, glad your Gold is doing well Tom
Yeh, so far, but is a beast, can screw me over anytime . Untill partials hit, dont feel very safe under 1187,3. Need a break. Is a mid of this huge Daily zone + fibo combo.. strong R cluster. Need break, hit partial and move stops. Dont count eggs while still in basket they say

edit: better chart visibility
Attached Image (click to enlarge)
Click to Enlarge Name: untitled2.JPG Size: 136 KB
"I know one thing, that I know nothing." Sokrates
  • #1,917
  • Jun 15, 2015 12:01pm Jun 15, 2015 12:01pm
Quoting Mr. Scott
{quote} I did buddy, AU not captured, only good for a few but I took long gu and short au based on ga chart, as had missed gu bat this morning and that was my reason for entry. Was looking for more au but closed on pa, let gu run and closed on pattern.
GA is a beast atm ... only looking for long here.
Fix up, trade sharp ...
  • #1,918
  • Jun 15, 2015 3:49pm Jun 15, 2015 3:49pm
Closed GU and AU shorts with minor gain.
Particularly GU order flow has been too bullish. Have 5 shorts on UC no need to force trades.
In trading, you have to be defensive and aggressive at the same time
  • #1,919
  • Jun 15, 2015 4:00pm Jun 15, 2015 4:00pm
Quoting Pharm0r
Good morning, pardon my interruption- any of you guys use ransquawk? If so mind shooting me a pm of your thoughts? No need to clutter the tread with such things
Pharmor if you don't need feed ASAP just subscribe to them in twitter.
  • #1,920
  • Jun 15, 2015 4:05pm Jun 15, 2015 4:05pm
On fundies US Industrial Production m/m came out .02 REd

and this article caught my attention


U.S. manufacturing sector said to be in a technical recession

The U.S. factory sector, ailing from the strong dollar, global weakness and lower oil prices, has slipped into a technical recession, new data released Monday show.
The Federal Reserve said Monday that industrial production dropped unexpectedly in May and hasn’t increased since November.
The six-month drop in output, adjusted for inflation, puts the sector in a technical recession, said Alan Tonelson, a former economist for a manufacturing trade group who now writes commentary on the sector.
Industrial output sank 0.2% in May. Economists polled by MarketWatch had expected a 0.2% gain.

I anticipate very dovish Feds meeting. Based on USD slow sell out so far example of GU AU NU gains, market is positioning weaker USD to come.
In trading, you have to be defensive and aggressive at the same time
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