The Sixth Dimension- Reaver's Trading Journal
- Thread starter Reaver
- Start date
Naah, not really. Markets too volatile to draw a bead on anything right now.
I am not necessarily a trend trader in the standard sense...well, I guess I am always trading with a trend on SOME timeframe..but as far as the classic term of trading with the long term trend, I deviate fairly frequently.
In fact, right now, hell, I can't find a trend to save my life. That's why I haven't been trading very much. Mainly a guessing game right now.
I take a few CT trades here and there, especially when I see extreme consensus or COT positions, etc.
I have a few setups I look for for guidelines, but I never limit myself to them. I look at the situation and make trades based on what I see in context, not trends or setups per se.
I make the majority of my trades with the trend though.
As Ron Burgundy said- Tasteful discretion is the name of the game. lol
Very tempting to short the Yen and Euro markets right now.
Okay what I am looking to do here is scale into a short in the Euro market. Long term trend is up, but short term trend is down and so is medium. We have all time highs within about 200-300 pips. This is a good selling zone for me. Consensus on the USD is pretty in the teens.
If I lose on this one BFD- I know I am wrong if price can exceed the all time high of around 159....if I am right, I may make a few bucks.
Entry targets- check
Point that I don't expect price to exceed- check
Rolaids- check
GTFO* stop- check
Good to go.
Here goes nothing.
*Get The Fuck Out
Okay what I am looking to do here is scale into a short in the Euro market. Long term trend is up, but short term trend is down and so is medium. We have all time highs within about 200-300 pips. This is a good selling zone for me. Consensus on the USD is pretty in the teens.
If I lose on this one BFD- I know I am wrong if price can exceed the all time high of around 159....if I am right, I may make a few bucks.
Entry targets- check
Point that I don't expect price to exceed- check
Rolaids- check
GTFO* stop- check
Good to go.
Here goes nothing.
*Get The Fuck Out
I went short EUR last night on a scale trade entry method. Getting spanked right now, but I am watching to see if EUR exceeds the recent highs. Otherwise, there could be a significant correction, if even only for the short term...could be some good money made.
Sentiment is very low in the DX (in the teens) and in the high 80's low 90's for EUR....Looks ripe for a contrarian trade.
I am in and short. I normally cut my winner short more quickly but this trade was planned this way on a scale in basis.
Not trading on hope, these are planned entries. We'll see if I am right.
Sentiment is very low in the DX (in the teens) and in the high 80's low 90's for EUR....Looks ripe for a contrarian trade.
I am in and short. I normally cut my winner short more quickly but this trade was planned this way on a scale in basis.
Not trading on hope, these are planned entries. We'll see if I am right.
Are you using just technicals or are there fundamentals in there too somewhere, or maybe neither?
I agree about the potential for a reversal, just watching the subdued price action even after a surprise IFO, and then Trichet and his no-cut comments, it's all beginning to look a little overdone now and everyone seems like they've kinda lost interest.
Tell you what, you start it off and I'll be right behind you
How's your carry averaging going by the way, some nice bounces on $/Yen
I agree about the potential for a reversal, just watching the subdued price action even after a surprise IFO, and then Trichet and his no-cut comments, it's all beginning to look a little overdone now and everyone seems like they've kinda lost interest.
Tell you what, you start it off and I'll be right behind you
How's your carry averaging going by the way, some nice bounces on $/Yen
Quote from cabletrader:
Are you using just technicals or are there fundamentals in there too somewhere, or maybe neither?
I agree about the potential for a reversal, just watching the subdued price action even after a surprise IFO, and then Trichet and his no-cut comments, it's all beginning to look a little overdone now and everyone seems like they've kinda lost interest.
Tell you what, you start it off and I'll be right behind you
How's your carry averaging going by the way, some nice bounces on $/Yen
Hey cable,
I am mainly using sentiment on this one. Intermediate trend is somewhat down in Euro, but sentiment in the Euro is at an extreme high and USD sentiment is at an extreme low.
Coming into testing an all time high....with this kind of sentiment, I am betting against it breaking through resistance.