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  • #2,441
  • Jul 13, 2015 5:02pm Jul 13, 2015 5:02pm
Hi Scott and friends here
Long on EG and AU but looks like there is more downward pressure.UJ looks like wants to reach 24 badly but Eying on 2380 zone for possible short.
REgards
In trading, you have to be defensive and aggressive at the same time
  • #2,442
  • Jul 13, 2015 7:30pm Jul 13, 2015 7:30pm
Quoting Mr. Scott
EU larger one close by.... {image}
One near by.
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The world you desire can be won. It exists.. it is real.. it is possible..
  • #2,443
  • Jul 13, 2015 7:35pm Jul 13, 2015 7:35pm
Quoting Davit
Hi Scott and friends here Long on EG and AU but looks like there is more downward pressure.UJ looks like wants to reach 24 badly but Eying on 2380 zone for possible short. REgards
Hi Davit,

That is an area of interest.
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The world you desire can be won. It exists.. it is real.. it is possible..
  • #2,444
  • Jul 13, 2015 7:41pm Jul 13, 2015 7:41pm
hey Scott and all

ucad....my favorite pos currency next to eu
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Wooooohooooo or Boooooohooooo
  • #2,445
  • Jul 13, 2015 8:18pm Jul 13, 2015 8:18pm
Quoting Mr. Scott
{quote} Hi Davit, That is an area of interest. {image}
Thanks Scott
Will keep it in check
In trading, you have to be defensive and aggressive at the same time
  • #2,446
  • Edited 8:52pm Jul 13, 2015 8:25pm | Edited 8:52pm
Quoting gnomoneey
hey Scott and all ucad....my favorite pos currency next to eu {image} {image}
Hi G
Big day weds for CAD rate decision.Market sentiment is another cut will be announced in light of poor numbers.
To me its no guarantee even with IR cut it will go higher then 1.28.Much of IR cut in my opinion is priced in already.
I remember when NZ raised rate soon afterwords it plunged down (86 area)total opposite what anyone thought.Oil is having solid support at 51-52 and for UC to break 1.30 and higher we need oil to break 50 going to 40 and lower.
Lines from 2001 1.60 should be looked at in relation to oil prices at the time and US economy.Those numbers not likely to be reached next 10years.
2001-2003 oil was trading 29-35 with strong economy. Below 50 means start of massive layoffs in both oil and steal industry contributing to weakening of economy despite what Feds are trying to sell to US public.
Weds Yellen is due to testify and I anticipate in light of heavy USD buying,Greece and China stock crises I believe she will be dovish without stating specific date for IR hike.
On this note last months unemployment claims was unsettling (highest since April)sending clear signal all is not well in economy.
regards
In trading, you have to be defensive and aggressive at the same time
  • #2,447
  • Jul 13, 2015 10:29pm Jul 13, 2015 10:29pm
Quoting Mr. Scott
{quote} One near by. {image}
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Morning Sir hope your weekend went well, eur possible on the day but,,but, check lower tc,?
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day gb s/r on fibs targeting 5410 area,if break 5335/5250, 5170/ good news then 5625, again watch lower tc..
  • #2,448
  • Jul 13, 2015 10:33pm Jul 13, 2015 10:33pm
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15 min, watch for trading below that 200 ema green sell below waiting to see if it will s/r here 1 hour shows same
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  • #2,449
  • Jul 14, 2015 3:20am Jul 14, 2015 3:20am
Attachment nice 30 min chart before and after interesting 161 Mr S has this in a chart Attachment
  • #2,450
  • Jul 14, 2015 5:47am Jul 14, 2015 5:47am
G/N Buying opp
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  • #2,451
  • Jul 14, 2015 6:29am Jul 14, 2015 6:29am
Quoting Davit
Hi Scott and friends here Long on EG and AU but looks like there is more downward pressure.UJ looks like wants to reach 24 badly but Eying on 2380 zone for possible short. REgards
Hi Davit, got flushed out of this one yesterday for a small lose before it took a short run up. Hope you got some pips before the drop.
  • #2,452
  • Jul 14, 2015 6:42am Jul 14, 2015 6:42am
Quoting Mr. Scott
{quote} Hi Davit, That is an area of interest. {image}
Nice call Scott. Waiting for around 125 if it makes.
  • #2,453
  • Jul 14, 2015 6:53am Jul 14, 2015 6:53am
Quoting elbert3
{image} nice 30 min chart before and after interesting 161 Mr S has this in a chart {image}
This was one was here before and is dying....Next one?
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The world you desire can be won. It exists.. it is real.. it is possible..
  • #2,454
  • Jul 14, 2015 6:55am Jul 14, 2015 6:55am
Quoting squawk
{quote} Nice call Scott. Waiting for around 125 if it makes.
Thanks Squawk, old 127 weekly was 12360 but not inclined to take overnight.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #2,455
  • Jul 14, 2015 8:17am Jul 14, 2015 8:17am
Quoting squawk
{quote} Hi Davit, got flushed out of this one yesterday for a small lose before it took a short run up. Hope you got some pips before the drop.
Hi Squawk
Yes I did get out at 7118
reasonable profit.I had 4 positions
Looking to go long but waiting for right signal.
H4 D red lower TF indecisive.
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In trading, you have to be defensive and aggressive at the same time
  • #2,456
  • Jul 14, 2015 9:25am Jul 14, 2015 9:25am
Quoting Davit
{quote} Hi Squawk Yes I did get out at 7118 reasonable profit.I had 4 positions Looking to go long but waiting for right signal. H4 D red lower TF indecisive. {image}
  • #2,457
  • Jul 14, 2015 9:30am Jul 14, 2015 9:30am
All sounds pretty familiar to me, always like to re-read these sort of list to reflect on my own shortcomings. Especially from Livermore

Referring to number 2; One of my own personal favorites I always like to remind myself of is wait for what isn't there yet. In other words if it's not obvious don't trade it or try and create it, just leave it until something happens that makes it an obvious trade.

A stock operator has to fight a lot of expensive enemies within himself.
Jesse Livermore

Jesse Livermore was a pioneer in the trading world. He was one of the very first trend traders, rule based discretionary traders, and traders of pure price action. He was a trail blazer. It was not his methodology that was his undoing, it was other short comings. After reading books about the life of this trading legend along with his own, here are my eight observations that I believe was his ultimate undoing.

  1. Letting losers run: Many times he did not cut his losses. I did precisely the wrong thing. The cotton showed me a loss and I kept it. The wheat showed me a profit and I sold it out. Of all the speculative blunders there are few greater than trying to average a losing game. Always sell what shows you a loss and keep what shows you a profit. Jesse Livermore
  2. Over Trading: What beat me was not having brains enough to stick to my own game that is, to play the market only when I was satisfied that precedents favored my play. Jesse Livermore
  3. Following tips: Gradually, as I began to accept his facts and figures, I began to fear I had been basing my previous position on misinformation. Of course I could not feel that way and not cover. And once I had covered because Thomas made me think I was wrong, I simply had to go long. It is the way my mind works. It cost me millions to learn that another dangerous enemy to a trader is his susceptibility to the urgings of a magnetic personality when plausibly expressed by a brilliant mind. Jesse Livermore
  4. Risk of ruin: From the quantity of his account blow ups and personal bankruptcies it appears that he did not understand the mathematical risk of ruin based on winning percentage and the loss of capital per trade.
  5. Position sizing: The sheer size of his astounding wins at key times shows that he did not really have a position sizing model to limit his exposure to risk, he was likely all in with leverage on his biggest wins. Which results in inevitable account blow ups.
  6. Discipline: In his writings he seems to always hint that he had trouble following his own rules and advice and lost money when he didnt follow his own plan.
  7. Lavish lifestyle: Livermore spent money lavishly on his lifestyle with mansions, vacations, and the best things money could buy. He had no number that allowed him to ever really retire and enjoy his wealth. He continued to trade with full size and aggressively through his career.
  8. Mental risk of ruin: In the end, for whatever reason he ended his life. The stress and strain of trading, finances, and his personal life probably took its toll.

  • #2,458
  • Jul 14, 2015 9:42am Jul 14, 2015 9:42am
Quoting squawk
All sounds pretty familiar to me, always like to re-read these sort of list to reflect on my own shortcomings. Especially from Livermore Referring to number 2; One of my own personal favorites I always like to remind myself of is wait for what isn't there yet. In other words if it's not obvious don't trade it or try and create it, just leave it until something happens that makes it an obvious trade. A stock operator has to fight a lot of expensive enemies within himself. Jesse Livermore Jesse Livermore was a pioneer in the trading world. He was...
Great post buddy
I read his book twice "Reminiscences of a Stock Operator"
Great insides.Yes agree let the trade come to you.They are always extreme imbalances to exploit.Key is to wait for it like EG at 70 UJ at 125.80 and could be tomorrow on UC
WE only need 10% a month.Getting good position on imbalance situation can net whole lot more by progressive betting.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #2,459
  • Jul 14, 2015 9:54am Jul 14, 2015 9:54am
Quoting Davit
{quote} Great post buddy I read his book twice "Reminiscences of a Stock Operator" Great insides.Yes agree let the trade come to you.They are always extreme imbalances to exploit.Key is to wait for it like EG at 70 UJ at 125.80 and could be tomorrow on UC WE only need 10% a month.Getting good position on imbalance situation can net whole lot more by progressive betting. Regards
Thanks Davit, Reading anything by JL is great especially when reading his battles with himself.

Yes waiting for the obvious is the hardest to do and waiting for Imbalance in market by the one sided liquidity creating the volatility I believe is the best way to trade. The key is understanding which ones will return and which will keep moving on.
  • #2,460
  • Jul 14, 2015 10:10am Jul 14, 2015 10:10am
Quoting squawk
{quote} Thanks Davit, Reading anything by JL is great especially when reading his battles with himself. Yes waiting for the obvious is the hardest to do and waiting for Imbalance in market by the one sided liquidity creating the volatility I believe is the best way to trade. The key is understanding which ones will return and which will keep moving on.
Look at GC its at extreme now.Wont stay there.BOC IR tomorrow and
I am looking forward to hammer this but not just yet.
Missed this I was sleeping
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In trading, you have to be defensive and aggressive at the same time
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