LOL! It was a joke - because you just had written, that the trend is your friend. No, it's not always our friend. Not at bottoms and tops.
Out 1/2 @118, +60 Holding rest as usual. Called bottom within couple of ticks once again lol... As $$$Mr.Market$$$ woud say: "I AM HUGE!" I will post complete chart at EOD. Thanks for having me here Baruch and sorry for the clutter! I will only post my trades for 1 day, OK?!
No, you are welcome. But think about all the pips you didn't got because you don't add to winners... Anyway, I think I will take a trip tomorrow to Italy (I love that country!) so maybe will I away from here some days.
Good info... I will incorporate this stop gunning strategy into my trading.. I will look to ride it then fade it. Its easy to fade when there is a key support not far away from the stops.. but if there is no support near by... look out it can get crazy. I was curious as to anyone using fibs when they trade Euro.... do you always draw the fibs off hourly chart pivots. I am trying to see what other traders are seeing.. I tend to have trouble drawing fibs.. because its not always clear how the market reacts to these fib levels and which fib level it will actually respond to. -MIKE
Scientist, Great trades. I wonder if you could tell more about HOW you pinpoint the reversals so accurately. I often find myself to be 100% right that a reversal is about to happen, but find myself executing too early and get stopped out (re-entry is a possibility) or sometimes too late and missing the move (a pullback entry is often an option in such case, but many times the price moves too fast with no decent second change). Obviously waiting the price to hit exactly the trend line is not a viable solution, for example your recent trades show cases where the price has overshot the trendline to return and cases (as the last one) where the price turns some time before hitting the trendline. I understand that we might be wondering into "propriatory" territory here but any hints as to which direction to go in my studies would be appreciated. Bungle
Do you think we can start a thread or some type of discussion over where key stops are located. I guess the best strategy would be to use a limit order to enter right near these stops... or maybe even enter a lil early in anticipation of a big move. Scientist I am curious as to what news feeds u use if any? DO you have a bloomberg feed? --MIKE
What do u guys think is the best news feed thats affordable for FX trading. Besides knowing all the eco# I am more interested in knowing the rumors and comments from influential analysts/banks or policy makers. Is bloomberg the only one that really good? I am demoing MNI and AFX... I think MNI is very good.. but when something major happens outside of eco# its not so fast. --MIKE
LOL Baruch you really got this one completely wrong... Read again... I Sold 3/4, then re-entered the full size again 13 T higher, and continued riding it ---> LOL! Oh, and if you mean the trade #2 chicken-out, where I bailed with a 30T profit - I bailed because of news, and re-entered at the top. That, again, actually made me an extra 25T! I didn't make less. I made more. You think I gave up 90 pips? Where the hell? I didn't give up 90, I actually made an extra 38T all-in-all by chickening out on those 2 trades (due to the tape action actually). Do your maths again. Maybe attached chart helps... Only exception is trade combo 3/4, where I exited for +50 and +77 instead of +50 and +100, but that was my only mistake afaic. And trust me, it bugs me, too! :eek: Baruch, you should listen into that Hayley Westenra album!
Regarding the stop gunning.. Take a look at the 1.2055 level. We are not too far off from there and if we break this level.. the market doesnt have any support nearby. Ideally u want to see the market consolidate near this level for a while before it breaks the key support because.. if it just drops off without basing first its not as profitable. If the market does break that level and u time it pretty well.. it should be good for atleast a 20-30 pip play. I would be hesitant fading the breakout because ther is no key support nearby. What do u guys think? --MIKE
News is only good really if its accurate and out exactly when u need it ,.... therefore I wud go w/ Bloomie ...althought the cost for that is out of this world .... think last I check $1200+ per month....... on the rumor front websites have all the gossip ...best thing in FX is to know the who and what of the options that are expireing then u can get a sense of what the option traders have to cover or sell and that will give some wind to whatever the product is ......... typical option for a "Player" is $1 to $3 billion and if that is out of the money then they gonna hve 2 cover the diff ..... in cable or swiss that can move the market and give u a free ride........