[B]"We are what we think"
Buddha[/B]
Sorry I couldn’t resist. I appreciate the quotes they have at the bottom of the threads.
[B]"We are what we think"
Buddha[/B]
Sorry I couldn’t resist. I appreciate the quotes they have at the bottom of the threads.
This is not saying: We are what we think WE ARE
but literally WE are what WE THINK
So understand then why I say at times monitor your thoughts.
If this steady move up in low volumne continues into Asia I bet they jump in long and we get another leg back up.
I may be buying some long down there.
G/J is at a level that I am comfortable to start my buying. I am in with you guys. I already got one +swap and sold at a profit. I would have held it longer but I can’t say no to selling at a nice plus. So I waited for the fall and bought another.
I have been steady scalping one all afternoon. And this level does seem pretty bottom like. I have them all the way up from here to 208.59 and am certain we will get back there. In the mean time I will be selling some early and buying back at the same or lower. Some I will hold but naturally I dont hold them long even if I can only get a 10 pip or less profit. It has been a good month so far even if I am sitting with a bit of drawdown ready for the ride back up.
I wish I had the patience like you to patiently wait for it to come down to a more profitable buying level. I wish I had the patience to sit on my long orders that are going north instead of selling them for a quick profit.
Maybe when I grow up I will be a swing trader instead of a lowly scalper.
But until then I am still in diaper training.
Funny:)
This is the only strategy of a few that I may consider myself “swing”. I mostly like to scalp intraday too.
Back down to the ~204.80-205.20 region where there’s some good support stacked up. In fact, there’s a fib retracement line at exactly 205. My stop is hemmed in fairly tight and I’ve taken off 3/4 of my position, but we’re back to a range-bound impasse at a breakpoint level. Not a whole lot between here and 202.60 - except a stop over around 204.40 - if a breach here holds.
Here’s a question, Elijah: I know interest is an important component, but do only scalp long on small throwbacks as price generally trends downward, or do you scalp in and out with the trend until momentum begins to level off and then set up longs? I think I know and could cobble together an answer from the thread, but wanted to hear your take.
Too bad I cant really safely risk any more of my margin and buy MORE than 1 here. I have 4 lots in the 205’s and now a 204.99.
I have two orders now spaced 50 pips apart. I will buy with every 50 pip fall. I am pretty safe with margin at 27,840.80%. I will take profit (or loss) on all orders when price moves well above the 200 ema on 15m.
With the trend down, I am buying, on some retraces up I sell some and buy them back at the same price or lower. Some I hold until they hit their TP.
WHen the trend is up, I have longs all the way up if it is too a price we have been at BEFORE. I am always buying and selling for a profit however I can.
If I am sitting here, anything goes. If I am not, my orders have one target.
And I sit on them until we get there. OR if I am here, more often then not
many green orders get sold, and new orders are entered to replace them.
I generally do not buy long when it is going up. Now I have nothing to do but sit. I did get $1.11 interest for the day (forex only)
HEre she comes up STRONGLY@!
This represents the amount of your total capital that is at risk. If you have 100K account then 3% margin useage is 3K. Meaning Ideally you dont want to risk more than 1 to 3 percent of your total available margin (after having applied leverage). So when I am at 1-3% this is of my total money which actually includes the amount effectively borrowed from my broker since my leverage is 400:1 so I only have a .25% equity share in the total available margin.
Symmetrical triangle building off higher lows from 204.65 up; current top lower low trendline @ 205.35. Upside move looks to be the more probable with 205 sitting beneath, but I’ll be maintaining my short until the market takes it out.
She is slowing my computer down by bogging my charting software.
So much for those shorts.
Well I am out until it falls again. Sold both orders one at break even and the other at +50 pips. So far this is not turning out to be such a long term strategy at all for me. I can’t seem to hold an order overnight (purchased 3 today). Who would when you have +50 pips screaming at you.
Well, the short is hanging in there… Just to antagonize you, I think.
Now I see a potential short setting up on U/J. Too bad I have to go out and buy some chips and salsa…I’m afraid I’m going to miss all the fun.
G/J has a rep of providing fun while you are out and nightmares while you are in.
EDIT: Dohh… my bad, you said U/J. I scalped that short already for 5 pips:D
I am done for the night. Enjoy your chips and salsa.
So I am the only one left here to watch this thing tank after running up to 205.6 . Darn…
I expect to be in the money by the morning though, I believe she is right now messing with us.
See you tomorrow…but I will be up most of the night.
Todd