Still short Euro. Looks like possible double-top may have formed here. We'll just have to see about that. If price breaks through double top for any meaningful period of time I am abandoning the position. Initiated longs in the Yen (short USD/JPY) and the Aussie. I have a buy order in the Loonie (short USD/CAD) if price exceeds highs of the day. If Loonie can exceed highs of the day it looks like picture could turn moderately bullish for at least the next few days.
Alrighty, I am flat on everything right now. Closed out all trades going into the weekend. They were at losses, unfortunately but hey that's just how it is sometimes. Better to be less rich than poor, if given the choice. I still hold my original views for the most part, especially in the Aussie and Euro markets. Loonie and the Yen may have to take a backseat for the time being. Even though I still think the Euro is going to fall out of bed (if only for a temporary sell off) I am still flat on the trade for now. Yes, I took a loss, but you have to remember it can get very expensive to wait around until you're proven right in this game. God only knows what can happen over the weekend with the way things have been recently. So far, my main plays are looking to short the Euro and go long the Aussie. Will see what happens Sunday night, and this will dictate whether I position or not. Sucks to get chopped up like this, but it's always worth it to catch those big moves that inevitably surface with this sort of volatility.
Cable, hey man you left me hanging! Where were you? I had the market by the throat ready to move it and you were nowhere to be found! What gives??
lol, yeah sorry about that, my micro-mini account was all ready for action......then my mom called me for dinner, and to make it worse it was tofu burgers and alphabetti spaghetti, again!!
No man, and she knows that shit gives me gas, boy was I pissed You know what I was going to ask you, I saw Kathy Lien looking at some kind of currency comparison chart (similar in principle to heat maps) at the beginning of the last episode of Wall St Worriers, have you ever seen anything like that or know a way it could be done (overlay?), it might be useful. I've email her but not had a reply yet, probably won't hear back but it was worth a shot. On the other hand just looking at the chart again in a still photo it could just be bollinger bands and stuff..... Sorry, maybe best to start a new thread to save messing up your journal.
I thought this was a pretty humorous link: http://www.myspace.com/distinguishedtouch Fellow Et'er allenhobbs is collaborating with BnB analytics. I had been following his journal for a while with baited breath to wish him well on his trading journey, and then it came to my attention he may some ulterior motives as a vendor. Crazy what people will do just to sell some trading advice. No limit to the lengths they will go to drum up attention to peddle there wares. Oh well enjoy the fame, Mr Hobbs, the rest of us normal traders will just keep doing what we've been doing.
Hey cable, no man you're not messing up my journal at all. The pic looks like it is just bollinger bands. I was looking at the way the price is reacting to the lines and the way the lines are expanding and contracting.....looks like bollinger bands. However, speaking of what you mentioned, I have been looking for a way to compare all currencies in one chart. I think that would be very helpful. It can be done in excel, but it would really be awesome if there was a way to code it into MT4 or some standard charting software.
I'm on the case, I'll trawl the MT4 forums tomorrow and see what I can find, if not I know an excellent MT4 EA guy who could probably put something together, I'm sure it's possible. I'll be back!
Had a bit of success, this is for 2 pairs and I've found another one for 3 but it was too messy so I'll keep looking. I'll see if I can post the MT4 file with this post, if not I'll have to zip it up somehow and then post it.....can't zip it so I've renamed it .txt, just save it and change it to .mq4 I think is the easiest way. (indicator credit goes to S.B.T) It's quite handy because not only can you compare 2 pairs you can also monitor 2 pairs for a potential trade set-up, it's a bit clearer than tiling different charts and ending up with small boxes. Another thing which might be useful is being able to see different time frames for the same pair on one chart. If this disturbs your journal please just say and I'll start a new thread....(no need to grass me up to the teacher like some journals do )