Thanks for the feedback. I am a beginner in blogging, and it must show. I am learning while doing it. My apologies, but I will work on it if I manage to stay awake late. Cheers, RFT
UPDATE: As indicated in my plan, the pair went up to retest, but could not reach the high. I re-entered part of what I took off on the visit back to 162.60 area. I will post it in the blog in a few moment from now. Now the pair is at 162.35, which gives the entry +37 pips gains. Happy trading guys, RFT PS: I need to take my dinner. This trading, forum and blogging are working me up.
Great Sam. Did you flip it? You sold at the attempt to re-retest. I re-entered in that area. See the posts in the blog. http://financialtraders.blogspot.com/2008/06/shorting-eurjpy-on-june-04-update.html cheers
As I stated in the blog, I took profits in 162.30 area. Now EUR/JPY is at 162.50 area. I am re-entering at 10:22PM.
Nice work on that short! I can clearly see that 162.56 resist. Question - when you base your trades around a resist line like that, how far past that do you place your stops? 5-8pips? *And nope, I didn't flip it...should have but was just at the station for a minute to close the long before heading out again.
Just to let everyone know that I shorted again. But it is dicey. It can run on the way up. But RFT does not go away, until he burns his hand or fall asleep. Details in the blog. PS: I want to double the account as soon as possible. I am up 67% over the last 2 and half weeks. Wish me will guys, wish me well. It is not about money but about a challenge to double this thing as soon as possible but no later than 4 weeks.
The short answer is that I do not know. All what I would do it to sell it, and place a stop about the high, allowing for some space in case the brokers or others run stops. I never put stops close when I am trading in order not to show my hand. But you are doing a great job. Do not worry about missing trades. Just worry about not losing too much. With time, wins add up, and with experience you will swing better than the bambino... and become richer than buffet himself. cheers
Kevin: I just did play with the margin. Could you please confirm whether it is now ok? And please forgive me ifyou find the blog design/etc not good. Maybe I need hire a designer to get something better. PS: RFT is a character represented by the king at the center of the screen. He is looking at a bull and at a bear fighting. But he does not look really at them. He looks at their shadows. Not also that RFT never gets in during the fight. He has just to decide on the winning side.
Good deal. I'm just watching from the sidelines right now...was a little worried about 162.5 holding up but looks as it just fell through. Are you concerned with the lack of lower lows? It seems the bottom of the last dip was 162.3...it it continues to rising, you're looking at a narrow profit margin? Good luck tonight, I'm off to bed.
_______ Short Long Today 165.0438 160.0342 T+1 164.9877 159.9795 T+2 164.9284 159.9217 T+3 164.8657 159.8607 T+4 164.7997 159.7964 T+5 164.7303 159.7288 More Into Longing it for the longer term fair value at 164.9 and Near term 162.5 USDJPY Seems Like a sell above 105.5 near term and 103 Longer Term _______ Short Long Today 107.8079 103.2053 T+1 107.9020 103.2966 T+2 107.9995 103.3911 T+3 108.1003 103.4889 T+4 108.2047 103.5900 T+5 108.3126 103.6946 So I am Placing the long Levels...GL