Ivan's Trade Thread, part II

[Reaver]

Quote from trackstar:

Getting ready to reshort. Waiting for confirmation that the test that stopped me out is going to hold.

I went long at 129.3 about 30 minutes ago but it's not really going anywhere.

 

[trackstar]

Quote from Reaver:

I went long at 129.3 about 30 minutes ago but it's not really going anywhere.

I'm shorting any break of 129.50.

Short setup for now is invalidated.

 

[trackstar]

Quote from Reaver:

I went long at 129.3 about 30 minutes ago but it's not really going anywhere.

Its going somewhere now! gg dude. Glad to hand over my money to you.

 

[lynx2004]

Huge moves in EUR GBP CAD ...

GBP bid-offer too wide. I always wondered about that. just trade EUR

 

[trackstar]

Quote from lynx2004:

Huge moves in EUR GBP CAD ...

GBP bid-offer too wide. I always wondered about that. just trade EUR

I'd much rather trade the GBPUSD than the EURUSD.

Short eurjpy again at 130.38

Stop .75
Target 128.15

 

[trackstar]

Stop now at BE, took off 1/4 of the position in profits.

edit: Stop now at 130.10

 

[Reaver]

Quote from trackstar:

Its going somewhere now! gg dude. Glad to hand over my money to you.

LOL thanks man.

What I have noticed that messes with me here recently...

With this choppiness, you have to be ready to take profits relatively quickly, because things are so damn erratic. You have 1 minute bars moving a hundred pips or more out of nowhere....

Therein lies the conflict.

One one hand you have to take profits due to the whipsaw action, but at the same time there have been some outrageous moves of 500,600, even 900-1000 pips....so every time the market takes off you want to hang on for the big one....which contradicts the strategy of quick profit taking this market calls for.


Normally taking profits is no biggie. Just tough to switch mindsets with this market as the condition is so contradictory. Almost every day there have been multiple hundreds of pip moves out of nowhere.

This is an interesting market for sure!

 

[trackstar]

Quote from trackstar:

Stop now at BE, took off 1/4 of the position in profits.

edit: Stop now at 130.10

Out. Now watching for longs.

 

[Reaver]

Alright just pulled out two 40-50 pip moves on the long side.

Just looking for black ink any way I can get it.


EDIT: Just grabbed this bad boy real quick too:


Talk about catching a falling knife!

 

[Gringinho]

Short EURJPY 128.75 stop 129.30 target 127.20 .