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I worry a bit about my JPY long. It's looking very overbought and kinda toppish, plus we just kinda tested the 60% retracement level [on the daily] and it looks like a rejection. Actually probably even a good place to go short here.

Nothing goes "north" until it's broken its prior highs. Till then, everything you see is illusion.

Being Danish, you just had to say that, didn't you? :D Man, it's been over 80 years now since that dude got his nobel prize. How time flies! As for the EUR ... Dude, I went short, not long! And yes, I'm still short the EUR, and now short the GBP also. See if things continue or break out...

GBP strong? I don't know if you've studied my GBP chart with the down-channel and the upper eigth line. If you study the eventual point of penetration of that line as drawn, you will know where I'm short the GBP... :D Seriously though; How can you say something looks strong if it's all...

1. If you think like that, you'll never get anywhere. 2. Disagree. Rules are (have to be) unmistakeable and iron-clad. "Common sense" must be one of the funniest oxymora on planet earth. Double the impact of this truism when applied to markets. The markets can remain irrational longer than...

Oh Baruch, I just realized it would take about 3 pages explaining all the reasons why... :D It's a well-planned trade. Let's just say it's an upper channel line rejection thing. If you look at the market as a whole larger thing, you might see it. I tend to approach the markets totally...

Interesting! I entered a short in the EUR at 1.2236, see how it goes.

Another chart you might find interesting... I might enter the GBP short once it hits the upper 1/8 and see if I can ride it.

1. You don't know? Just experiment, bro. It's 99% perspiration and 1% inspiration. :D 2. Fair enough. So your system is rather discretionary / undefined, which makes automated execution very difficult. 3. Yes, sometimes the market runs away from you. And what does that mean??? It means...

To illustrate possible channel view... The red line is your 50 SMA The blue line is the 60 EMA

OK then, some notes; 1) For starters, I assume you're using SMA instead of EMA, since it was crossed at 1.7999. Any reasons for preferring an SMA? Have you experimented with any EMA's? 2) You supposedly entered at 1.7995, 4 pips below cross? Didn't you say you use a 10-pip entry filter...

I just checked on this. I don't understand... If you went short 1.795... You can't have taken 45 pips, because price only went down 18 pips from there. Am I getting something wrong here? Do you mean 1.7995? Please verify your entries/exits and quote them in 5 digits, this is important in...

Hey Baruch, I figured that part of the reason I did lots of scalping was also the need to be constantly challenged and overcome boredom. Once I figured this, decided that my all-time mantra (focus on one single market at a time only) was actually double-edged, and I decided to offset the boredom...

Yeah right. LOL! Welcome to America, land of charity... Gotta love this place.

Well, don't trade the bloody thing then!

Yes, little has changed in that department. That's OK though, because on the other side of the deal, I've managed to take much bigger winners. :p Hint: The quality / skill of a trader is determined by the amount of money it takes him to find out if he's wrong...

I'll reply in my favourite colour... Thanks for the prompt reply - sory Baruch for using your thread for this... >> Sounds good I've gone maximum 20 lots/contracts? 20 lots on EUR? Well, if you're experienced enough. At your peril, bro. At your peril. >>Do they honour stops even in...

Keen prediction indeed! It turned around shortly after that, I exited the other 1/2 @250, at -5 pips.

Just look at that entry at 255 now! :D I'm not too confident about continuation though, all the pro's (large tape prints) seem to've taken their long profits, so I've taken 1/2 off at +15 pips. Might add again later on if things go stronger.

Be afraid. Be very afraid...