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I just checked in again, and the long EUR/JPY I have came within 3 pips of stopping me out, then turned around and went up by another 100 pips!! :) My stop was at 164.05 and it came down to 164.08. Makes you wonder if the stop hunters are really out there??? LOL Just moved the stop up another 50 pips to 164.55 and got rid of my TP.
LOL, later! I'm off for my morning walk in a few minutes but I'll back later.
Ouch. That hurts just looking at it.
You're turning into a contrarian trader LOL. That works for very short time frames. Speaking of which, I'm taking your advice to try using the EUR/USD in my scalping studies. I'm working on a brand new research project based on that now. When I post the research notes up on my site I'll let you know.
-------------RANT WARNING!!! -----------------
"Global imbalances," what a maroooon!!!!
Scuse me Jean-Claude? In a free market there are no imbalances. Everything is worth exactly what it should be worth by definition. The only way there can be an "imbalance" is if prices move away from some "normal" (meaning - government imposed) level. You don't get to decide what's "normal" or what's "imbalanced" there Jean-Claude.
Of course, he wouldn't know a free market if it came up and bit him in the ass. Oh wait...the free market IS biting him in the ass, LMAO!! Enjoy your growing trade deficit there Jean-Claude. Of course you could always lower interest rates; oh no, you can't. I forgot. Inflation problem right? No wiggle room right? Caused by low productivity right? Right.
Clean up your own house first Jean-Claude. The globe will take care of itself.
At least they have Sarkozy now, but I doubt they'll listen to him.
Yes, but I got knocked out of AUD/JPY last week at +91 pips. As far as the long-term carry trade, I agree that's over. I unwound mine a couple of months ago, right around the time I started to look at Hector's trend following system.
Trichet and Juncker are still ass-hats though. LOL
LOL, I'm soooo late again tonight.
My long EUR/JPY from last week is still on. Closed the first half on Friday for +31 pips and the other half is up 117 pips with 60 pips locked in.
Looking for a short entry on USD/CHF too. And no, I don't want your long USD/CAD, LOL!! Why are you against the trend on that??
LMAO, I don't know which post we're talking about. I think originally I said something about my carry trade rant on my blog. The point of that rant though wasn't really about the carry trade, it was about the motivations of the "two Jean-Claudes" and why they pissed me off.
Sure, that just reinforces my point that the "two Jean-Claudes" are ass-hats. They're probably dancing on their boardroom tables because these speculators are getting screwed. Nice.
I said Euro.
What happened next was that the Euro went from 1.30 to 1.40... no matter how much the ass-hats cried about it. LOL
They said the same thing about 1.3000 when it got there. It's all BS. Central banks are paper tigers. They don't have the juice to move the market away from where it really wants to go. They can cause little mini-panics for a few days and that's it. The market goes where it goes.
Remember the rant in my blog about the carry trade? Jean Claude Juncker was the infamous "ass-hat number 2" LOL.
I was SOO late getting up last night that I didn't come into iHub. Speaking of making an average of 13 pips a night scalping, I think I still have some work to do. Made 13 pips the night I was here, and lost 17 pips last night!
Made a total of 91 pips on the long AUD/JPY though and stopped out at even on the NZD/USD long. I went long EUR/JPY last night but haven't looked at it since.
Two scalps tonight for 13 pips total; time to take a break for a while. Almost time for my morning walk anyway... back later!
I just noticed that Matt changed the board spotlight on the homepage. We're not there anymore. It was fun while it lasted, LOL.
I just got out at +3 pips. That one was scary.
Yes, in one of my research projects. They don't move enough to be worth it. It's more about the ratio between the range and the spread.
Long at 233.66
Another GBP/JPY scalp; long this time.
Probably lower than that 3.9% they're expecting for two reasons.
First of all, you can see research on my site that shows that they generally lowball the magnitude of change in the number from month to month, so if they're forecasting a 0.1% drop then it's probably going to be 0.2% or more.
Second, I think the Fed has a pretty good idea of where the GDP is going to be based on their models, and they DID just drop the discount rate by 50 bps. That tells me that they're seeing warning signs.
Whoa, not me. I'm watching that big triangle too on a daily chart, but I'm waiting for a DOWNSIDE break on it.
Well one good thing is that it looks like both my longer term positions have retraced again and are coming back up now. So as soon as they break the previous high, I get to move my stops up again. I love moving stops in my direction. Like cashing a little paycheck every time, LOL.
This blows. As Hector would say, I'm standing on the platform looking silly...waving at the train as it leaves the station. Bye train!! Byeeee!!!
It's deader than hell...looks weak at least in the short term.
crap!!! I had to go take the boiling water off the stove and now I'm missing this upswing that I was getting ready for 15 minutes ago. Unbelievable.
more news out in a half hour; bleh.
Oh I see it. I was zoomed in too close. If this hourly bar closes down around here I'll be going long for the next scalp too.
London's open now... here we gooooooooooooo!!!
Resistance at 233.60? I don't see that.
I'm locked out of everything almost because of the two positions I already have. Don't want to double up on any currencies. So no more JPY crosses until I exit the AUD/JPY. Except for my 10 minute scalp trades of course.
LOL, I like LITMAS.
(lock in the money and sleep)
ttmar??
Closed it for +10 pips. Wheeeee!!!!
Yeah I hate that. I try to lock in as soon as possible; but gotta let it breath and run too.
Scalping the GBP/JPY; short now.
Right but didn't you say you were worried about taking profit because it might keep moving up? My way is boring, but I never have to make decisions like that. The chart tells me where and when to move the stop.
OK, I moved my NZD/USD stop up to b/e and I'm up 34 pips on that one. Up 133 pips on AUD/JPY. w00t! I haven't had a loss since I came back from vaca. Hector is a genius!
oh, well it's a place where you can do simple tasks online for a little cash.
wait, dude you need a consistent system for trailing the stops; takes the stress out of it. What I do is wait for a retrace at the end of a swing up. Then, if the price comes back up and breaks through the old high, I move the stop up to just below the low of the retrace. I do that forever or until the stop gets taken out.
wait, sheesh I didn't even open up my FXtrade yet, LOL.