Monday 2-27 Asian Session Euro FX (ECH06) Adaptive Dynamic Values Price = 1.856 1.1961 Strong Resistance 1.1902 Resistance 1.1862 Long Above/Short Below 1.1845 Strong Support 1.1765 Support
Trades I made last nite and today. Went long 2 JYH6 at .8578 sold one at .8617 and stayed long one contract. Today at end of this session I went long with another at .8624. Sorry for the delayed posting. I will try to post more accurate updates. My analysis----- I recently covered my shorts in the yen from last wednesday for about 38 pip loss. My trading signals reversed, and I decided to take advantage of the new upward trend in the YEN. My near term profit target is .8680 I ecpect we will be there in the next few days. My stops are now at break even at .8578. Regards, Steve
Hello Buy1Sell2 ... at the risk of raising your hackles, I have to ask why in the world you need to establish BLR's credibility. Only two reasons come to my mind: 1) you are a member of the ET Hall of Fame Recommendation Committee 2) you are looking to be spoon-fed some juicy trade setups If #1, then my humblest apologies. But if #2, I'd say you are definitely barking up the wrong tree. I've lurked and posted at numerous trader forums for a good many years now, and if I've learned anything, it is that only a fool would believe he could trade and profit from another's signals. As the saying goes, this is only my opinion (subject to change on the next tick). I'm just a dumb ole' struggling trader, but I'd say that BLR is accountable to himself, as regards following the rules of his trading plan; and to his broker, in the event of any margin issues. Beyond that, these forums are a great place to chew the fat with other traders, to learn (or to at least appreciate) new approaches to the mkts, and to garner a sense of the general consensus. And in my case, to sometimes add a little more confidence/confirmation to my own trading signals. But for me to feel the need to establish someone's credibility is ludicrous - I leave it to the mkts to let anyone know how they are performing - lol. I take everyone's opinion at face value, knowing full well that sometimes they will be correct, and at other times dead wrong - kinda like trading. Finally, perhaps I'm just being a cantankerous old fart who doesn't understand the rules of engagement here at ET. So just consider the above w/ a grain of salt, and realize its all just imvho! Cheers ... tbone
No long position in the Euro today, I decided to keep my head out of the cement mixer and wait for the bottom to put in here. For discussion I will offer the following: my target low has been revised upward from 1784 to the 1800 level (spot). I think we will see this low before we begin to move higher. If it is not reached I will wait out the move until we get above and hold the 1865 area. In the dollar we have overhead we have resistance in the 90.73-75 area and... it was not taken out today. This failure has occurred after a couple attempts at this level and I think it indicates the buck is running out of steam here. Maybe just wishful thinking but have a look at the chart. Just for interest, the COT figures will be out tomorrow and it will be interesting to see if the funds are increasing or easing off their long positions in the dollar. Last week they taking on more long positions. The funds must have some concern about the Yen carry trade which seems to be falling apart in slow motion. When it begins to unwind in earnest, we should see some significant moves. My trading plan at present is geared toward the long side only with an upside target of 12650 in the intermediate term. That represents the 50% retracement of the December 04 to Nov 05 decline. As always, I appreciate any comments. Good trading.
Thank you for post. Neither number 1 or 2 apply to me. The fact of the matter though is that this a journal for posting trades and not for chewing the fat. Saying that I believe x is a target area for long and even lower would be a great place for long does not indicate any type of reality. I might feel that 1250 is a good place to be long on the ES, but I would rather be long at 1200. It's just too vague. I need to see realtime trades to establish credibility not just for myself, but more for the poster. We need to be honest with ourselves and with each other here and by demanding this type of activity it is very helpful to each other. I am only interested in seeing exact trades. I cannot trust anything else. The starter of this thread in fact treads on the thin ice of vagueness as well, but has shown some ability to list exact trades in the past.
And thank you, sir, in return. I'm thinking my choice of using the colloquialism "chewing the fat" was ill-chosen, for the fact that I did not intend to imply that these forums are designed for discussing the Winter Olympics or Dancing With the Stars - lol. However, I think we must agree to disagree concerning the true intent of a trading journal. Personally, I fail to comprehend the importance of posting "exact" trades, excepting one very good point which you've made. And that being that it may help a trader to stay true to himself, as far as his trade management is concerned. It's very possible the simple act of "publicly writing down" his plan will provide the additional reinforcement to help him stay the course during the actual trade. Most likely, our differences of opinion may stem from whether we are talking about "before or after" the fact . And this is inherently a double-edged sword. By this I mean, if a person posts his trade intentions "before" pulling the trigger, does this mean he has forfeited the latitude to make last-second adjustments to his entry? Or, on the other hand, if he posts after the fact, what is to prevent him from "fudging" the numbers, especially during times of high mkt volatility. Either way, I just don't see any real benefits to the others who may be watching. I can't imagine keeping scorecards for trader x and trader y as I'm sure they need neither a beratement or a pat on the back from me, whatever the case may be. Very sorry if I am beating a dead horse here. Quite simply, for me, a trading journal represents the opportunity for traders to bounce their own ideas and opinions off one another in the seach for confirmation, or possible flaws in their analyses. I'm just here to try and understand the "why" of a trader's actions, having no interest in the "whens" and "wheres". Best of trades to you, B1S2 ...
i've just raised my short entry @1913. it has been sideway for too many hours, so if it passes through yesterday highs i will expect a movement toward the 61.8% retracement (1915) of this slope (1970-1827). now it's just above 1877 and i'm watching closely for a short in case of failure: i mean a return below 1855 that would lead to another test of yesterday lows at least ... ciao
well done! absolutely perfect, unfortunateley i'm not so brave and i use to stay aside too many times ... ciao