Chivas Posted July 23, 2011 Share Posted July 23, 2011 Holding Gold in 23 point positive territory and closed Dax just prior to weekend closing at 24@£10 so all in all a good week for me. Interesting to see where Gold goes next week.... Link to comment Share on other sites More sharing options...
Chivas Posted July 25, 2011 Share Posted July 25, 2011 (edited) Holding Gold in 23 point positive territory and closed Dax just prior to weekend closing at 24@£10 so all in all a good week for me. Interesting to see where Gold goes next week.... Interesting indeed-whilst asleep its moved sharply upwards and breached my 6115 automated limit. My charting software (via Tradefair) is poor and looks like it opened a lot higher than that ?? As its right on the edge of new page can't quite see how high it went ?? Notwithstanding a 115 pip profit to open the week. Indicies well down as I type. Nothing on my newsfeed to indicate why at this point. Can only assume ongoing concern over US debt crisis now 9 days away... Edited July 25, 2011 by Chivas Link to comment Share on other sites More sharing options...
Paulo1 Posted July 25, 2011 Author Share Posted July 25, 2011 Holding Gold in 23 point positive territory and closed Dax just prior to weekend closing at 24@£10 so all in all a good week for me. Interesting to see where Gold goes next week.... Interesting indeed-whilst asleep its moved sharply upwards and breached my 6115 automated limit. My charting software (via Tradefair) is poor and looks like it opened a lot higher than that ?? As its right on the edge of new page can't quite see how high it went ?? Notwithstanding a 115 pip profit to open the week. Indicies well down as I type. Nothing on my newsfeed to indicate why at this point. Can only assume ongoing concern over US debt crisis now 9 days away... Nice trade there Chivas, great start to the week in all. here comes 1650 to 1700. Link to comment Share on other sites More sharing options...
Paulo1 Posted July 25, 2011 Author Share Posted July 25, 2011 Waiting for a 4hr close in 45 minutes, see whats around at that point. Certianly weak dollar, just about getting a good entry at this point. EURGBP is almost back a BE. Link to comment Share on other sites More sharing options...
Paulo1 Posted July 25, 2011 Author Share Posted July 25, 2011 (edited) Last week I noticed some comments about stop placement and risk to reward. This is a much debated subject and i would like to add some clarity to it. Firstly, there are two ways to make money in trading. 1.Be right more often than you are wrong, then you can take less reward than you risk and still come out ahead. 2. Make more than you lose each time you trade, then you can be wrong more often than you are right and still come out ahead. Then you need to work out your win to loss ratio and risk to reward ratio. So what you have to do is find you own strategies balance point between risk to reward and win to loss. Four questions you need to ask yourself. 1. How many toatal trades do i take in an average week? 2. How many losses do i take in that time? 3. What percent gain do i make when i take a profit? 4. What percent drawdown do i incur when i lose? Edited July 25, 2011 by Paulo1 Link to comment Share on other sites More sharing options...
Paulo1 Posted July 25, 2011 Author Share Posted July 25, 2011 Sold USDCHF at 8022 market, stop 8091 target 7920. Have second entry waitg, sell limit at 8050 same stop Target 7863 Link to comment Share on other sites More sharing options...
Chivas Posted July 26, 2011 Share Posted July 26, 2011 Paulo1 Do you think Gold will break back below 1600 before probably advancing again, or is 1610 bottom line ?? Link to comment Share on other sites More sharing options...
Paulo1 Posted July 26, 2011 Author Share Posted July 26, 2011 EURYEN, Buy 113.20 stop 112.37 T1 114.10 T2, 114.90 Link to comment Share on other sites More sharing options...
Paulo1 Posted July 26, 2011 Author Share Posted July 26, 2011 Paulo1 Do you think Gold will break back below 1600 before probably advancing again, or is 1610 bottom line ?? Thats a very difficult question there Chivas. I have 1624 as intraday resistance and 1604 as support, and a daily piviot at 1613.87, current price 1613.68 bid. It all depends on what happens in the US. M Link to comment Share on other sites More sharing options...
Paulo1 Posted July 26, 2011 Author Share Posted July 26, 2011 (edited) Buy Cable 1.6335 stop 6290 T1, 6436 t2 6475 May have to pay higher, or wait, Idea, can buy part at market now and wait for another entry lower. 6320 , 6290. News in 30 minutes Edited July 26, 2011 by Paulo1 Link to comment Share on other sites More sharing options...
Paulo1 Posted July 26, 2011 Author Share Posted July 26, 2011 (edited) Buy EURGBP @ 8830 stop 87800 target 1 8875 target 2 8924. if target 1 is hit move stop to breakeven. Another GREAT call by Paulo Target 1 has been hit, also took a lower entry at 8820 , and 8842, revised targets are t1. 8900 t2 8930 Edited July 26, 2011 by Paulo1 Link to comment Share on other sites More sharing options...
Paulo1 Posted July 26, 2011 Author Share Posted July 26, 2011 (edited) Buy Cable 1.6335 stop 6290 T1, 6436 t2 6475 May have to pay higher, or wait, Idea, can buy part at market now and wait for another entry lower. 6320 , 6290. News in 30 minutes Plus 70 pips form entry . Still hold as per trade plan Edited July 26, 2011 by Paulo1 Link to comment Share on other sites More sharing options...
Paulo1 Posted July 26, 2011 Author Share Posted July 26, 2011 buy limit GBPJPY 127 97 stop 127.128 t1, 129,00 t2 129,669. Link to comment Share on other sites More sharing options...
Paulo1 Posted July 26, 2011 Author Share Posted July 26, 2011 Buy Cable 1.6335 stop 6290 T1, 6436 t2 6475 May have to pay higher, or wait, Idea, can buy part at market now and wait for another entry lower. 6320 , 6290. News in 30 minutes Have moved cable stops to 1.6345. Taken profits on EG prior news , tightened stops an was stopped out well in the money, so was a painful trade which tested my patience, but paid off. Link to comment Share on other sites More sharing options...
Chivas Posted July 27, 2011 Share Posted July 27, 2011 (edited) Buy EURGBP @ 8830 stop 87800 target 1 8875 target 2 8924. if target 1 is hit move stop to breakeven. Another GREAT call by Paulo Target 1 has been hit, also took a lower entry at 8820 , and 8842, revised targets are t1. 8900 t2 8930 Nice-was following that trade on your recommendation but didn't open myself. Opened Gold Long @£3 at 1614.2 with 300 S/L Have moved stop up to 1618 and presently sat at 1622.4 as I type... No trade currently on Dax. Edited July 27, 2011 by Chivas Link to comment Share on other sites More sharing options...
Paulo1 Posted July 27, 2011 Author Share Posted July 27, 2011 Buy EURGBP @ 8830 stop 87800 target 1 8875 target 2 8924. if target 1 is hit move stop to breakeven. Another GREAT call by Paulo Target 1 has been hit, also took a lower entry at 8820 , and 8842, revised targets are t1. 8900 t2 8930 Nice-was following that trade on your recommendation but didn't open myself. Opened Gold Long @£3 at 1614.2 with 300 S/L Have moved stop up to 1618 and presently sat at 1622.4 as I type... No trade currently on Dax. Just got stopped on the EY and Close the GY, total loss about 140 pips. Am long Silver 40.885 stop 40.099. am looking for Gold entry, have been away from internet most the day. Link to comment Share on other sites More sharing options...
Chivas Posted July 27, 2011 Share Posted July 27, 2011 Buy EURGBP @ 8830 stop 87800 target 1 8875 target 2 8924. if target 1 is hit move stop to breakeven. Another GREAT call by Paulo Target 1 has been hit, also took a lower entry at 8820 , and 8842, revised targets are t1. 8900 t2 8930 Nice-was following that trade on your recommendation but didn't open myself. Opened Gold Long @£3 at 1614.2 with 300 S/L Have moved stop up to 1618 and presently sat at 1622.4 as I type... No trade currently on Dax. Just got stopped on the EY and Close the GY, total loss about 140 pips. Am long Silver 40.885 stop 40.099. am looking for Gold entry, have been away from internet most the day. What target do you have on Silver Paulo1 ?? Link to comment Share on other sites More sharing options...
Chivas Posted July 28, 2011 Share Posted July 28, 2011 You trade was spot on re Silver-was up after noticed your post, and then later 70 plus up. Fell back later-am looking at Gold 1615 well down on yesterdays highs. Have just opened at 1615.1 @£3 long S/L 200 target 1622.5 Still no real sign that the States are near a deal on debt crisis ?? Link to comment Share on other sites More sharing options...
Paulo1 Posted July 28, 2011 Author Share Posted July 28, 2011 You trade was spot on re Silver-was up after noticed your post, and then later 70 plus up. Fell back later-am looking at Gold 1615 well down on yesterdays highs. Have just opened at 1615.1 @£3 long S/L 200 target 1622.5 Still no real sign that the States are near a deal on debt crisis ?? sorry for the late reply, Closed Silver 41.20. Be real careful with long positions on Gold, have a feeling a good correction is not far off. Maybe a week or two away. Link to comment Share on other sites More sharing options...
Chivas Posted July 28, 2011 Share Posted July 28, 2011 You trade was spot on re Silver-was up after noticed your post, and then later 70 plus up. Fell back later-am looking at Gold 1615 well down on yesterdays highs. Have just opened at 1615.1 @£3 long S/L 200 target 1622.5 Still no real sign that the States are near a deal on debt crisis ?? sorry for the late reply, Closed Silver 41.20. Be real careful with long positions on Gold, have a feeling a good correction is not far off. Maybe a week or two away. Yes will do-my thoughts are that if the debt crisis doesnt get resolved than Gold moves forward-if it is resolved its only a short term reprieve ? Will look to close out whatever by end of trading Friday. Link to comment Share on other sites More sharing options...
Chivas Posted July 28, 2011 Share Posted July 28, 2011 Closed Gold at 1618.1 for 30 pips profit. No other trades open.Awaiting news on the US situation. Link to comment Share on other sites More sharing options...
Paulo1 Posted July 28, 2011 Author Share Posted July 28, 2011 Closed Gold at 1618.1 for 30 pips profit. No other trades open.Awaiting news on the US situation. Another nice trade Chivas. well done. My thinking on gold is that in the past month gold has gained 10%ish and everyone is so bullish, and i too am over the long term, but just feel a correction is needed and not far off. Same with the AUD, brokers are talking it up to 1.25, and when brokers, carsales men, and the postman start telling you this I think it time to look for sell signals. 1650/60 is far from not out of the question Twiggy wrote this today. The global monetary system rests on a knife-edge, with the US Treasury about to default unless a last-minute agreement can be brokered between major political players. If not, the world's only reserve currency will plunge in value, with dramatic consequences for the global monetary system. Here are a few observations: A debt limit is a LIMIT. It is not supposed to be raised. How we got to the present situation was by repeatedly raising the limit, fostering the impression that it is only a target. The onus remains on the incumbent party to cut spending (or increase revenues) so that the linit is never reached. When Democrats lost their majority in the House the job became tougher, but they still bear responsibility for brokering a deal that has majority support — even if they have to eat some peas. They could not assume that the debt limit would be raised. Waiting until the 11th hour in order to blackmail opponents with another case of too-big-to-fail might be sharp political practice but displays a clear lack of fiscal responsibility. The agenda is being driven by politics rather than by a desire to solve the country's problems. The elephant in the room is Medicare, Medicaid and Social Security; you can't start negotiations by declaring these off-limits. Each side is guilty of political grandstanding, with positions carefully crafted for next year's election; and negotiations conducted through the media are doomed to failure. If both sides were genuine in their attempt to resolve the deadlock, there would be a media blackout until an agreement had been hammered out between them. Capital markets are unforgiving and the time is coming when they will deliver a clear message: whoever wins the next election is irrelevant — it's the economy, stupid Link to comment Share on other sites More sharing options...
Paulo1 Posted July 28, 2011 Author Share Posted July 28, 2011 (edited) Have taking sells on GBPUSD, EURAUD , EURNZD and EURUSD. entered last night, never posted . The point is I am waiting for these trades to run course , once thats happened should get some signals. I am also serching for a weekly swing position trade, Something that will return 1000 plus pips over weeks or months. I see a few guests reading the thread, i hope you are getting a few trades also. Edited July 28, 2011 by Paulo1 Link to comment Share on other sites More sharing options...
Paulo1 Posted July 28, 2011 Author Share Posted July 28, 2011 Attached is the trade sheet of a mate of mine. Has been sniped due certian info on the documents. My friend trades a three million dollar account and these are his results. This is a luxury for you to see this, because it shows a live Pro Traders account, and you can have a look at it and i bet by just looking at these results you will learn something. Link to comment Share on other sites More sharing options...
Chivas Posted July 29, 2011 Share Posted July 29, 2011 Well the markets reacted badly to the Americans failure to agree on the debt crisis perhaps predictably. At 2100 US time the markets dropped initially like a stone although have recovered slightly. Seriously tempted to open long on Dax and hold over weekend.... Link to comment Share on other sites More sharing options...
Paulo1 Posted July 29, 2011 Author Share Posted July 29, 2011 Well the markets reacted badly to the Americans failure to agree on the debt crisis perhaps predictably. At 2100 US time the markets dropped initially like a stone although have recovered slightly. Seriously tempted to open long on Dax and hold over weekend.... Am staying out of the market, anything could happen. Link to comment Share on other sites More sharing options...
Paulo1 Posted July 29, 2011 Author Share Posted July 29, 2011 (edited) DAX, 7000 being support and Resistance @7450/500. Weekly and Daily are forming a head and shoulder pattern. A close below 7000 will confirm and short trades should be entered on a retest of 7000 which will now become resistance. If there is no close below then look for candle reversal signals for a move higher to 7100 zone. Edited July 29, 2011 by Paulo1 Link to comment Share on other sites More sharing options...
Paulo1 Posted July 29, 2011 Author Share Posted July 29, 2011 (edited) Have sold GBPCHF 1/3 position at 1.3014 stop 75 pip, t1 100 t2 150. Have another sell limit @ 3054 Edited July 29, 2011 by Paulo1 Link to comment Share on other sites More sharing options...
Paulo1 Posted July 29, 2011 Author Share Posted July 29, 2011 Well the markets reacted badly to the Americans failure to agree on the debt crisis perhaps predictably. At 2100 US time the markets dropped initially like a stone although have recovered slightly. Seriously tempted to open long on Dax and hold over weekend.... Am staying out of the market, anything could happen. LOL, Unless i see a high% signal..... Link to comment Share on other sites More sharing options...
Paulo1 Posted July 30, 2011 Author Share Posted July 30, 2011 Have sold GBPCHF 1/3 position at 1.3014 stop 75 pip, t1 100 t2 150. Have another sell limit @ 3054 Target 1 hit. plus 100, This was a really nice trade, Link to comment Share on other sites More sharing options...
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