Ivan's Trade Thread, part II

Quote from Reaver:

Hey trackstar, any reason you are going short with such a big target?

I mentioned earlier that if this thing goes short I think it will be short in a huge way, but was just wondering what your thoughts were on taking a short right now.

I am slightly biased long, but if this doesn't move up soon, I will be looking to go short as well. I don't really have much faith in these rallies right now.
More...

Honestly my profit targets are pretty meaningless. The only reason I stick them in is so that I can walk away easier. Not to say that I dont think it cant get there, the moves right now are so exaggerated that I actually think this profit target will get hit. If this is actually a dollar correction we wont know until after the rate cut tomorrow.

To me this looks like this could be just a blip to price the cut in and the equity market may tank again after the decision is announced tomorrow. Then you have the counter trend moves that have been happening day after day when the US equity market closes.

Both scenerios push the dollar up. All in all to me its a fairly low risk trade.
 
Quote from trackstar:

Honestly my profit targets are pretty meaningless. The only reason I stick them in is so that I can walk away easier. Not to say that I dont think it cant get there, the moves right now are so exaggerated that I actually think this profit target will get hit. If this is actually a dollar correction we wont know until after the rate cut tomorrow.

To me this looks like this could be just a blip to price the cut in and the equity market may tank again after the decision is announced tomorrow. Then you have the counter trend moves that have been happening day after day when the US equity market closes.

Both scenerios push the dollar up. All in all to me its a fairly low risk trade.
More...

Cool, thanks for the information. I can definitely see where you're coming from on that.
 
Hey trackstar, you might just be on to something here with your short bias...

It's whipping around, down about 250 pips since 1700 CDT.
 
Nice trade trackstar, do you mind helping out a newb and just give the premise behind the trade. I see a double top on the 60 min at about 127.22 or so, I see you shorted 126.04. Just wondering why not the double top or maybe you waited for confirmation or something. Not looking for your strategy but maybe basic premise of the trade to help me learn if you do not mind. Thanks
 
Quote from rsikit:

Nice trade trackstar, do you mind helping out a newb and just give the premise behind the trade. I see a double top on the 60 min at about 127.22 or so, I see you shorted 126.04. Just wondering why not the double top or maybe you waited for confirmation or something. Not looking for your strategy but maybe basic premise of the trade to help me learn if you do not mind. Thanks
More...

Most of the reasoning was posted about in response to Reaver. I then take into account a failed test to make a new high. Just trade support and resistance and dont be afraid to get in and out. I take many many losses of 20-80 pips. Winners are usually at min 100 pips all the way to 500 pips.

I think the best way to take advantage of trading is to be nimble.

My method is simple. 2HHs and 2HLs - buy 3 bar reversal. Opposite = short.
 
You must log in or register to reply here.
Back
Top