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scwizard
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Posts by
scwizard
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scwizard
in
Trading Systems
Oct 12, 2010 at 03:16
Scalping doesn't work in medium low volume markets, breakouts can still happen pretty randomly.Trading breakouts doesn't work in medium low volume markets, they don't go far enough.Trading news doesn't work in medium low volume markets, there isn't any news to trade.I'm going to make a forecasting trade and sit on my hands.
scwizard
in
Trading Systems
Oct 11, 2010 at 10:40
Before I go to bed I just wanted to point out a few things.Firstly, even though my story had a happy ending it's important to realize that what happened shows that I still can let my emotions get the better of me, which is bad.Secondly, on myfxbook it says that I had a down day. This is completely false, you see myfxbook and myself have different concepts of when a day begins and when one ends. The day begins when I wake up and ends when I go to sleep you see. ALL HOURLY CANDLES MUST BE GREEN.Thirdly, it's kind of scary how much influence a kid with a 50$ account who's up 50% can h...
scwizard
in
Trading Systems
Oct 11, 2010 at 10:15
Crazy day today...Long AU on fundamentals.Go grocery shopping.Close AU long, nice profit.EVERYONE IS ON VACATION.Low volume market.Lose a bit of money to bullshit low volume market.Get annoyed.Can't sleep.Lose A LOT of money to gambling.Sleep deprivation leads to creativity.Creativity leads to me figuring out how to scalp bullshit low volume market.SCALP EU LIKE CRAZY.WIN LIKE EIGHT TRADES IN A ROW.Tell #forex about what happened.#forex is like "holy shit I love scalping!"More EU scalping.Now I end today in profit.How to scalp bullshit low volume market:1. Confirm bullshit low vo...
scwizard
in
Trading Systems
Oct 09, 2010 at 17:20
S&P500 correction/crash November 3rd?The equity markets are assuming right now that Ben Bernanke will "provide additional accommodation" and lift the stock market up, and that's been priced into the market a great degree.HOWEVER since he made that statement, the numerous negative potential consequences of QE2 have shown themselves. The first is a "currency war." QE2 could stat off a very dangerous round of competitive currency devaluation in the foreign exchange markets. The second is that the price of food is up 75% since the beginning of September. QE2 would drive...
scwizard
in
Trading Systems
Oct 08, 2010 at 21:41
Couldn't trade NFP due to technical difficulties. Which is good because it was a wierd one and I would have lost a lot of money.Wheat, Corn, Soybeans, Oats all lock limit up in the futures. I still believe that there won't be a crash this October, but I'm very scared here.
scwizard
in
Trading Systems
Oct 08, 2010 at 08:35
I should scalp EU more. Oanda's crazy low spreads mean that I'm not even losing very much money when I do so, and it's lots of fun.I really gotta nap before NFP...
scwizard
in
Trading Systems
Oct 08, 2010 at 06:19
People are saying there are rumors of intervention on UJ at 82.10. Rumors are wrong 110% of the time. My price target on UJ is below 80.00.On an unrelated note, I'm waking up early tomorrow (today) for NFP. it'll be fun :)Also a dead goose formation is taking shape on XAU/USD. Be careful!
scwizard
in
Trading Systems
Oct 07, 2010 at 06:22
http://www.bloomberg.com/news/2010-10-07/japan-won-t-join-a-currency-devaluation-race-vice-finance-minister-says.htmlShort UJ bitchez
scwizard
in
Trading Systems
Oct 06, 2010 at 23:21
So my tea leaves said that gold would have a technical pullback, so I short it before my 5:20 class.Two hours later, I get home and go to #forex and the first thing I see is people saying "I wouldn't be surprised if gold hit 9000 today."I check my position panicked and... it's in profit.My face: -.-
scwizard
in
Trading Systems
Oct 06, 2010 at 16:20
Dollar being driven down, but it has no effect on markets. This is big!http://img824.imageshack.us/img824/4137/selleverything.png
scwizard
in
Trading Systems
Oct 05, 2010 at 18:10
You may be wondering what's up with a 5$ AU trade I lost recently. Well I was surprised to when I woke up and I found myself down five dollars. I had a limit order set that I forgot to cancel.Everyone makes mistakes.I'm short USD/SEK now, the plan is to close the trade after Wednesday's New York market closes. Of course I'm regretting not going long gold instead (or perhaps as well).
scwizard
in
Trading Systems
Oct 05, 2010 at 04:18
http://www.newyorkfed.org/markets/tot_operation_schedule.htmlPOMO scheduled for tomorrow and the day after. Look for a weaker dollar overall, especially during New York only hours (1PM to 5PM).
scwizard
in
Trading Systems
Oct 05, 2010 at 04:12
I'd like to thank #forex at irc.ircforex.comSomeone Australian mentioned in the channel that there was a chance that the Reserve Bank of Australia wouldn't raise interest rates like expected. This lead to me placing limit orders for a breakout around the news event which lead to profit!
scwizard
in
Trading Systems
Oct 02, 2010 at 22:46
Stocks and the US Dollar are flat or slightly lower for the month. Everyone is waiting on November when we have a important FOMC meeting, midterm elections and Black Friday. Huge uncertainty will cause people to make large bets in both directions, which will cancel each other out for the most part.There won't be a crash this October. October crashes happen when people are certain that November's numbers will be super ugly and that we're fucked. There's huge uncertainty right now, but both sides are looking for huge moves. This will drive the VIX up a ton for sure.Long term reco...
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