Offshore Trader
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And square as well 
neil
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Offshore Trader
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The slightly worrying thing is that over the last 5 days, actively managing my positions has cost me a lot of money. If I had set orders at the start of the day and come back at the end I'd be just about square. This does buck the long term trend as well. Actively managing positions (trailing stops, resetting orders) normally works much better.
Offshore Trader
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a_gnome said:
I'm not overly concerned long term it's the short-term carnage on my capital which concerns me.
Stephen Curran
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I'll cast off the coats of lurkerdom for just a second.
I'm a learner, confined to dummy trades, however i'm trying to learn everything I can, so I follow what you guys do, tryin' to pick up the vibe.
I don't know if this is of any help, but ever since I signed up for a free week of commentary and analysis from the elliot wave people, they've been rather annoyingly filling up my inbox everyday with about one million wave counts.
This is the one that they sent yesterday.
As I said, I don't know if it'll help, but there's nothin to lose I suppose.
Sincerely + Good Luck
Stef
I'm a learner, confined to dummy trades, however i'm trying to learn everything I can, so I follow what you guys do, tryin' to pick up the vibe.
I don't know if this is of any help, but ever since I signed up for a free week of commentary and analysis from the elliot wave people, they've been rather annoyingly filling up my inbox everyday with about one million wave counts.
This is the one that they sent yesterday.
As I said, I don't know if it'll help, but there's nothin to lose I suppose.
Sincerely + Good Luck
Stef
EURUSD: Volatility, Anyone?
By Vadim Pokhlebkin
Here’s what a good friend of mine – a forex trader with 11 years of experience – once told me:
“I rarely trade in December. Many traders are off on vacations; others have already made their profits for the year and are sitting tight, refusing to take any risk in the remaining weeks. As a result, the forex markets thin out, making it easier for big players to push the prices around. Trading a trendless market is very difficult, so come December, I scale way back.”
Well, another December is upon us, and once again I see my friend’s point. Over the past three weeks, the EURUSD has covered an incredible distance of 600 pips: from $1.2750 all the way up to $1.3350 (and counting). It's now just 2 cents away from its all-time high of two years ago.
Of course, after hitting that all-time high of $1.356 in December 2004, the EURUSD tumbled down for a whole year. Things are different this time around, say forex analysts. Maybe, but that's not the point. Regardless of whether or not the euro can hold its recent gains, one thing's for sure going forward: volatility. Remember how wildly the EURUSD swung last December? Some days it would easily cover 100+ pips in each direction, and this year should be no different.
Strong volatility is all the more reason to rely on Elliott wave analysis this time of year. Prices may swing more than normal, but wave patterns in the markets remain intact. Case in point: the EURUSD forecast our Currency Specialty Service published last night (Dec. 4). "Topping" was the key word we used, and for good reason: See how the ongoing rally shows only 3 waves so far?
As you know, an Elliott wave impulse has 5 waves. That's why, if our analysis is correct and wave 3 is indeed nearing completion, what should come next is a strong pullback in wave 4. Just how far could it drop? We do have a few Fibonacci-calculated targets in sight for the EURUSD, but since volatility will likely persist as the year-end approaches, this is a time for caution…
JER08 said:
Thanks and it's a fair point (especially as though it seems it was the strong ADP emplyment report which triggered the selloff which triggered my short...).
But i am trying to just follow the signals and remove my discretion from my trading. (Especially as my discretion is screaming at me to short teh pound against everyhting with all that I have - lol).
Historically, 50% of the signals are failures (losses between 25 and 75 pips), most of the winners are small, and a small percentage are stellar performers. I have to keep reminding myself of this fact - especially when I get whipped as i did today.....
I hope that no more signals will be geneated before 1.30pm friday, but if they do, then ill have to take them and keep my fingers firmly crossed....
cheers
Here is a signal vendor, Rob Grespi, which made 99 yesterday, and 332 pips so far in December. Here you can see his trades:
http://www.kingforexsignals.com/robtrades1206.htm
And here is a video of one of his trades yesterday:
http://www.kingforexsignals.com/Robvideos/120606_7_Rob/120606_7_Rob.html
And one more:
http://www.kingforexsignals.com/Robvideos/120606_1_Rob/120606_1_Rob.html
What do you think?
http://www.kingforexsignals.com/robtrades1206.htm
And here is a video of one of his trades yesterday:
http://www.kingforexsignals.com/Robvideos/120606_7_Rob/120606_7_Rob.html
And one more:
http://www.kingforexsignals.com/Robvideos/120606_1_Rob/120606_1_Rob.html
What do you think?
The news trade in UK Industrial Production:
http://forexdiamonds.com/video.php?video=120606_UKIndustrialProduction
http://forexdiamonds.com/video.php?video=120606_UKIndustrialProduction
