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Looks like my choice to un-hedge the silver trade is going to pay off well. GL with the EJ trade, DOW is crashing.
I think the Swiss bank is mad. Looks like they went postal on the CHF. lol
Ohh..and the US GDP might be important too..at 8:30
Trade un-hedged...i think i'm good from here.
Heads up: 8:15am USD
ADP Non-Farm Employment Change
THANKS! lol
I can't risk anymore loss on the trade, so I just now hedged it temporarily until I see some kind of positive direction. Gold is back over 1000 which doesn't help me very much!
I sure hope I get a bounce out of the current levels of the USD index. I woke up to an ugly trade this morning! USD is sitting around 76.60 or so right now.
Looks like your call to buy was the right call! My shorts are ugly this morning, still hanging in there unless the 17 level gets taken out.
Eww...ugly morning for me! lol
I have accidentally entered orders that were big losers. lol I like the big pips over multiple days! Makes for less stress and more money. GJ on the GU trade! I'm short a pile of silver and at least earning $6.00 a day in interest. I would like to see another .75c or better move like I had the other day. Overall, I think silver will see the lower trendline which is somewhere around about $14.00 or so.
I use trailing stops occasionally. I only find them useful when they are set very wide. Basically take any pair and review the chart. Try to figure out the average range of consolidation periods. Set the trailing stop at a width that exceeds the pairs consolidation ranges. If you don't do this, your trailing stops will just get taken out by whippy consolidation. For example, when writing EA's the optimal trailing stop for USD/CHF was(at the time) 150 pips. This was based on the 4 hour chart if I remember correctly. If your trading shorter time periods, just do the same analysis and figure out what the shorter consolidation ranges are. Hope this is useful.
lmao...I don't know that i've ever done that!
completely different software I installed. I need to find, or develop software to allow linear threads. Will see what I can find.
The only crappy thing about it is trading the massive spread. Right now, forex.com has a .04 spread, which seams to be the average for the pair on this broker. Either way, spread doesn't matter much if the correct call is made. I like taking on fairly heavy risk...xag/usd is the place to do it! Basically, I watch eur/usd, oil, and the usd index for making decisions in xag/usd.
tfxh and live chat is back online. I wanted to simplify it and make it nothing more than a forum. Still working at everything though. This will be the last restructuring of it. I'll leave it online to see where it goes...
GL to you too. My silver shorts are about .10c in the plus now, so things are looking good so far. Oil is dumping off pretty hard.
In oanda its 7500, my mt4 only quotes down to the penny...not sure i'd call that 7500, but rather 75.
Glad you have taken interest in silver! I'm not sure I see any buys right now, especially with oil crumbling down into the low 66's and eur/usd faltering. I think xag and xau will soon falter. XAU is holding under 1000 well which may prove quite bearish in the near future. XAG and xau are quite volatile, and unpredictable, so I may be way off in my comments!
Peace
jrb
Your making some nice pips!
Yes! Quite the dud. I still have the position, actually a very large one. Something weird happened yesterday, as i'm sure you noticed. DOW up 100, EUR tanks, oil down in the 66's and gold/silver doesn't move. WTF? Somethings gotta give, and I think it will be my silver position. I haven't looked at other pairs, but i'm assuming some USD pairs fell while eur/usd was falling, thus supporting xag/usd and xau/usd? Not sure, but that's what i'm guessing.
Short 16.16 xag/usd once again....oil faltered pretty hard, I expect silver and gold to falter as well. EUR looks to have dumped off pretty hard from resistance too thus supporting my short xag position.,
gold is testing the neckline of a daily double top. Curious to see where its going from here.
Points taken. Thanks for the debate. On another note, since i'm a freeby and am about out of posts for the day:
I see capitulation of the stock market longs soon. This appears to be a push for 10k...if it fails, down with the dow. I don't see any fundamental reason for such a rally. Thoughts?
Quite nifty having a defensman that can stitch you up! I fight in the local Amateur MMA circuits, unfortunately none of my teammates can stitch me up. lol
I'd sell 3000oz at 17.45 if given the chance.
Seems that the gut feeling is usually right. I'm still wondering why the dow futures are up about $42...hmm
I closed my xag shorts. Gut feeling has won. I will resell at higher levels. Took .75c gain on the short for VERY nice returns.
Oddly, right now the DOW futures are Dow Jones +11.00 9630.00 9/28 6:35am
EUR/USD is about to break down. I think it would be a great short RIGHT NOW. IMO of course....If i didn't have so much margin tied up in XAG i'd short it, place a stop at 1.4730 and a tp at 1.4360
Here it is:
http://www.bloomberg.com/apps/news?pid=20601087&sid=ax.FBWNLB5_o
I'll be hanging onto my USD's against the xag's for a bit to see where this goes. If they want to repo my dollars, they have to pay a premium!
I missed the repo news....I was just playing off of the chart. I guess I had a little luck on my side. I'm going to dig up more info on this. IF they are taking 1 trillion out, i'll hang onto my XAG's for better prices. I think it would be a good choice to remove some money supply to help prevent the impending hyper-inflation if we don't absorb some liquidity.
I'll probably close my xag shorts at the lows of the day if it tests back down. I just realized that 15.75ish is the lower 2% band of the 21MA. If PA doesn't eliminate that support, we will likely see 16.50 again soon, which is the 21 day MA
I love that chart Don! hehe pull up the xag one, I especially love that one.
Oanda, or forex.com.
I am defensive...I have no reason to brag. I don't know why you are here if your against capitalism or better stated as having the freedom to build wealth. The average person can work himself up from nothing into being the most successful person on the planet. You seem to either not agree with that, or think that its wrong to have that ability. No need to apologize though, you have your points, and your points are taken into consideration, I just hope you see where i'm coming from. Let me outline how I feel.
-I think its great that we can make money without limits
-I don't think corporations should be capped, nor should individuals
-Capping either is redistributing wealth to someone else(Someone else that is not working as hard for it)
-I can leverage my $7000, why can't I leverage my $2,000,000(Just theoretical i don't have anywhere near that)
-Not bragging about my account, just trying to make a point...The questions I posted in relation to the account weren't really rhetorical. I would like to know, am I wrong? A hero? Or did I work my butt off to take thee $40,000 from you? Should I be limited on how much I can make? If I ran it to $10,000,000 should I be forced to stop trading?
No bad blood here, i'm just defensive of capitalism and enjoy other persons comments whether I seem pissed of or not. My handle is "jrbscrazy" keep that in mind. Ok, enough ranting, lets get to trading, and building our own wealth to expand beyond being "regular" people!
Peace and good trading,
jrb
hehe...back to forex now...enough ranting.
I am a regular person. I wouldn't leave myself out of the formula. You are on the forex bored, so apparently you are trying to make money in the forex market right? Would you still have the same comments if you traded your way to being a multi-millionaire? Perhaps if you become a multi-millionaire i'll be pissed at you and call you a thief. I don't really get your comments. If your against making money, leave the market and quit your job. Ultimately, we all work to make money, we all trade to make money, regardless of what anyone thinks, we need money to survive. Its the world we live in. If someone is a "regular" person, whatever the intended definition of that is, they have the opportunity to be better than "regular" thus my reasoning for trading forex, going to college, working my way up in the business world. I don't see the point in disciplining someone who spends their life seeking wealth and becomes successful. You state "WE are not meant to" who's we? I am very successful in the markets. I ran my $7000 oanda account to $40,000 am I wrong for that? Or am I a hero for reaming the broker? Ohh crap the broker was started by a person, probably a person who took nothing and turned it into something, just like me. So i'm wondering, how are "WE" any different than "them"?
"up a few hundred pips" You should close this position at the market open. You are making TOO MUCH MONEY! In fact, I demand that you close it! Get the point?
I'm not familiar with Monsanto...but I'm a believer in opportunity. If I could patent a necessity, I'd be very happy. On the other hand, cornering a market is already against the law, so depending on the circumstances, Monsanto may find itself in legal troubles.
lol at Jester! Jester must have a massive library of pictures for every word/phrase in the English language.
Let me elaborate on my last post, cause there may be some seeming misconceptions. If a company outpaces the economy to the point of failing as a business. Or stated otherwise, expand beyond its means, then THE COMPANY SHOULD NOT BE BAILED OUT! Bailing out a company is f'ing with economics as well as capitalism.