Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

thalestrader

Reading Charts in Real Time

Recommended Posts

Hit the the target for +8 ES. I didn't realize that S was so close at only 8ES points. Oops. We are now bouncing off the S at 27.50 pretty hard. Anyway, good way to start off 2010.

 

attachment.php?attachmentid=17982&stc=1&d=1263911651

hjuti.png.ca60ea8aab39ffa59140d06d3c31ebe3.png

Share this post


Link to post
Share on other sites

Here is how it lookson the 6B. The dotted lines are entry/targets for the first entry, the solid lines are for the second entry. Stop loss is the same for each, position size is different, risk is approximately the same (+/- a few dollars). Scaling in - Scaling out - each has its own targets.

 

 

attachment.php?attachmentid=17984&stc=1&d=1263912604

 

 

Best Wishes,

 

Thales

5aa70faae5772_2010-01-196B1.thumb.jpg.c7e77f3beacb3deb2099a3673b6d7098.jpg

Edited by thalestrader
attach chart

Share this post


Link to post
Share on other sites
Current look at GU...

 

I've moved my stop to BE. This is a hard one to sit through...lots of back and forth.

 

NOTE: I believe this is the same trade Thales is in (his add to his first position, anyway), except with a less ambitious first PT...the second PT is about the same. I admit that my first PT is less than desirable R/R...I was just worried about the resistance, which has indeed come into play...price has come within a tick or two of my PT1 and keeps backing off...

 

Current look @ the USDJPY...

 

Short never triggered...up it goes.

GU15M2.JPG.3b5714c44e57c2584d12da3fcb225130.JPG

UJ15M2.JPG.5184c1b6d936f87def66e647faa87aa6.JPG

Edited by Cory2679
typo

Share this post


Link to post
Share on other sites
Here is how it lookson the 6B. The dotted lines are entry/targets for the first entry, the solid lines are for the second entry. Stop loss is the same for each, position size is different, risk is approximately the same (+/- a few dollars). Scaling in - Scaling out - each has its own targets.

 

Here is where I stand: PT1 on each entry is filled for +27 ticks and +32 ticks respectively. I have stops at entry 1 PT1 and Entry 2 Break even level.

 

attachment.php?attachmentid=17989&stc=1&d=1263914322

 

 

 

Best Wishes,

 

Thales

5aa70fab0d55d_2010-01-196B4.thumb.jpg.bf231c04e43d182425c0a37be557173a.jpg

Share this post


Link to post
Share on other sites
Hi Cory,

 

I'm with you on cable and just had my PT1 hit. Also in Euro which hasn't been a smooth ride either so far.

 

When I see opportunity present itself in the same direction simultaneously on both the 6B and the 6E, I am trading the 6B for longs and the 6E for shorts. That changes from time to time, of course, but the Pound has been so much stronger relative to the Euro, it just seems to make sense for the time being for me to trade them so.

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites
When I see opportunity present itself in the same direction simultaneously on both the 6B and the 6E, I am trading the 6B for longs and the 6E for shorts. That changes from time to time, of course, but the Pound has been so much stronger relative to the Euro, it just seems to make sense for the time being for me to trade them so.

 

Best Wishes,

 

Thales

 

 

Short EURUSD ...?

 

Best Wishes,

 

Thales

5aa70fab13441_2010-01-19EURUSD3.thumb.jpg.09d7f647517af36649ee073791da244a.jpg

Share this post


Link to post
Share on other sites
Hi Cory,

 

I'm with you on cable and just had my PT1 hit. Also in Euro which hasn't been a smooth ride either so far.

 

When I see opportunity present itself in the same direction simultaneously on both the 6B and the 6E, I am trading the 6B for longs and the 6E for shorts. That changes from time to time, of course, but the Pound has been so much stronger relative to the Euro, it just seems to make sense for the time being for me to trade them so.

 

Thales beat me to it, but I was about to say something similar...just that I saw both and chose the GU.

 

This sort of thing came up just last week:

 

I have a question for Thales or anybody:

 

Do you have any reservations about taking positions at the same time on different currency pairs?...

 

For example, the EJ, EU, and GU all presented short opportunities at around the same time today.........

 

If you are looking short, sell the weaker of the two (6B/6E). If you are looking long, buy the stronger of the two. If they both look equally enticing, pick your favorite.
Edited by Cory2679
typo

Share this post


Link to post
Share on other sites
Hi Thales after hitting good Support on EUR/USD the 123 long was not appealing to you? If you could please shed some light...

 

 

Thanks

 

I'm not quite sure the reason for the question - but maybe my post 3415 and Cory's post 3416 might help clear things up.

 

Also, support and resistance either is or is not, it is neither "good" nor "bad," even if we all slip into judging it so from time to time (me included).

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites
I'm not quite sure the reason for the question - but maybe my post 3415 and Cory's post 3416 might help clear things up.

 

Also, support and resistance either is or is not, it is neither "good" nor "bad," even if we all slip into judging it so from time to time (me included).

 

Best Wishes,

 

Thales

 

Like beachtrader in post 3412 I would have thought the case for a trade in EUR/USD would have been long. I was just wondering why the short instead...

Share this post


Link to post
Share on other sites
Like beachtrader in post 3412 I would have thought the case for a trade in EUR/USD would have been long. I was just wondering why the short instead...

 

The case at that time was long (you probably could make a case for still being long as well). I would rather play the GBPUSD long, however, as the GBP has been much stronger lately than the EUR.

 

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites
On a different note - potential addition to cable position?

 

I personally haven't gotten to the point where I add to current positions.

 

I'm still holding on to the GU with a BE stop on the second half...I don't have very high hopes at this point, though...we've had something of a "123" against our long position...could probably make an argument for a potential short...

Share this post


Link to post
Share on other sites

Since I feel kinda left out as I am the only one trading ES, thought I'd comment on 6E. In my view we are sitting just above major Support. If that support breaks down, we could see a nice break out to the downside (below 1.4256).

 

I am watching that area to see if it breaks with volume expansion, in which case I will attempt to ride it down. Until then, IMO we are still at major S and I wouldn't want to to short here until that level breaks down.

 

20100119-grxt78wjtncg56bbysqam3eghm.preview.jpg

Click for full size - Uploaded with plasq's Skitch

Share this post


Link to post
Share on other sites
...we've had something of a "123" against our long position...could probably make an argument for a potential short...

 

Stopped & reversed...(sorry a little late...had to act fast with the platform and didn't have an opportunity to post right away)...

GU15M5.JPG.9f1ad2d08384ca84a874ac16a955598d.JPG

GU15M6.JPG.c8bc8d99e5d7752906a8f61a2ed0d23e.JPG

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Thx for reminding us... I don't bang that drum often enough anymore Another part for consideration is who that money initially went to...
    • TDUP ThredUp stock, watch for a top of range breakout above 2.94 at https://stockconsultant.com/?TDUP
    • How long does it take to receive HFM's withdrawal via Skrill? less than 24H?
    • My wife Robin just wanted some groceries.   Simple enough.   She parked the car for fifteen minutes, and returned to find a huge scratch on the side.   Someone keyed her car.   To be clear, this isn’t just any car.   It’s a Cybertruck—Elon Musk's stainless-steel spaceship on wheels. She bought it back in 2021, before Musk became everyone's favorite villain or savior.   Someone saw it parked in a grocery lot and felt compelled to carve their hatred directly into the metal.   That's what happens when you stand out.   Nobody keys a beige minivan.   When you're polarizing, you're impossible to ignore. But the irony is: the more attention something has, the harder it is to find the truth about it.   What’s Elon Musk really thinking? What are his plans? What will happen with DOGE? Is he deserving of all of this adoration and hate? Hard to say.   Ideas work the same way.   Take tariffs, for example.   Tariffs have become the Cybertrucks of economic policy. People either love them or hate them. Even if they don’t understand what they are and how they work. (Most don’t.)   That’s why, in my latest podcast (link below), I wanted to explore the “in-between” truth about tariffs.   And like Cybertrucks, I guess my thoughts on tariffs are polarizing.   Greg Gutfield mentioned me on Fox News. Harvard professors hate me now. (I wonder if they also key Cybertrucks?)   But before I show you what I think about tariffs… I have to mention something.   We’re Headed to Austin, Texas This weekend, my team and I are headed to Austin. By now, you should probably know why.   Yes, SXSW is happening. But my team and I are doing something I think is even better.   We’re putting on a FREE event on “Tech’s Turning Point.”   AI, quantum, biotech, crypto, and more—it’s all on the table.   Just now, we posted a special webpage with the agenda.   Click here to check it out and add it to your calendar.   The Truth About Tariffs People love to panic about tariffs causing inflation.   They wave around the ghost of the Smoot-Hawley Tariff from the Great Depression like it’s Exhibit A proving tariffs equal economic collapse.   But let me pop this myth:   Tariffs don’t cause inflation. And no, I'm not crazy (despite what angry professors from Harvard or Stanford might tweet at me).   Here's the deal.   Inflation isn’t when just a couple of things become pricier. It’s when your entire shopping basket—eggs, shirts, Netflix subscriptions, bananas, everything—starts costing more because your money’s worth less.   Inflation means your dollars aren’t stretching as far as they used to.   Take the 1800s.   For nearly a century, 97% of America’s revenue came from tariffs. Income tax? Didn’t exist. And guess what inflation was? Basically zero. Maybe 1% a year.   The economy was booming, and tariffs funded nearly everything. So, why do people suddenly think tariffs cause inflation today?   Tariffs are taxes on imports, yes, but prices are set by supply and demand—not tariffs.   Let me give you a simple example.   Imagine fancy potato chips from Canada cost $10, and a 20% tariff pushes that to $12. Everyone panics—prices rose! Inflation!   Nope.   If I only have $100 to spend and the price of my favorite chips goes up, I either stop buying chips or I buy, say, fewer newspapers.   If everyone stops buying newspapers because they’re overspending on chips, newspapers lower their prices or go out of business.   Overall spending stays the same, and inflation doesn’t budge.   Three quick scenarios:   We buy pricier chips, but fewer other things: Inflation unchanged. Manufacturers shift to the U.S. to avoid tariffs: Inflation unchanged (and more jobs here). We stop buying fancy chips: Prices drop again. Inflation? Still unchanged. The only thing that actually causes inflation is printing money.   Between 2020 and 2022 alone, 40% of all money ever created in history appeared overnight.   That’s why inflation shot up afterward—not because of tariffs.   Back to tariffs today.   Still No Inflation Unlike the infamous Smoot-Hawley blanket tariff (imagine Oprah handing out tariffs: "You get a tariff, and you get a tariff!"), today's tariffs are strategic.   Trump slapped tariffs on chips from Taiwan because we shouldn’t rely on a single foreign supplier for vital tech components—especially if that supplier might get invaded.   Now Taiwan Semiconductor is investing $100 billion in American manufacturing.   Strategic win, no inflation.   Then there’s Canada and Mexico—our friendly neighbors with weirdly huge tariffs on things like milk and butter (299% tariff on butter—really, Canada?).   Trump’s not blanketing everything with tariffs; he’s pressuring trade partners to lower theirs.   If they do, everybody wins. If they don’t, well, then we have a strategic trade chess game—but still no inflation.   In short, tariffs are about strategy, security, and fairness—not inflation.   Yes, blanket tariffs from the Great Depression era were dumb. Obviously. Today's targeted tariffs? Smart.   Listen to the whole podcast to hear why I think this.   And by the way, if you see a Cybertruck, don’t key it. Robin doesn’t care about your politics; she just likes her weird truck.   Maybe read a good book, relax, and leave cars alone.   (And yes, nobody keys Volkswagens, even though they were basically created by Hitler. Strange world we live in.) Source: https://altucherconfidential.com/posts/the-truth-about-tariffs-busting-the-inflation-myth    Profits from free accurate cryptos signals: https://www.predictmag.com/       
    • No, not if you are comparing apples to apples. What we call “poor” is obviously a pretty high bar but if you’re talking about like a total homeless shambling skexie in like San Fran then, no. The U.S.A. in not particularly kind to you. It is not an abuse so much as it is a sad relatively minor consequence of our optimism and industriousness.   What you consider rich changes with circumstances obviously. If you are genuinely poor in the U.S.A., you experience a quirky hodgepodge of unhelpful and/or abstract extreme lavishnesses while also being alienated from your social support network. It’s about the same as being a refugee. For a fraction of the ‘kindness’ available to you in non bio-available form, you could have simply stayed closer to your people and been MUCH better off.   It’s just a quirk of how we run the place and our values; we are more worried about interfering with people’s liberty and natural inclination to do for themselves than we are about no bums left behind. It is a slightly hurtful position and we know it; we are just scared to death of socialism cancer and we’re willing to put our money where our mouth is.   So, if you’re a bum; you got 5G, the ER will spend like $1,000,000 on you over a hangnail but then kick you out as soon as you’re “stabilized”, the logistics are surpremely efficient, you have total unchecked freedom of speech, real-estate, motels, and jobs are all natural healthy markets in perfect competition, you got compulsory three ‘R’’s, your military owns the sky, sea, space, night, information-space, and has the best hairdos, you can fill out paper and get all the stuff up to and including a Ph.D. Pretty much everything a very generous, eager, flawless go-getter with five minutes to spare would think you might need.   It’s worse. Our whole society is competitive and we do NOT value or make any kumbaya exception. The last kumbaya types we had werr the Shakers and they literally went extinct. Pueblo peoples are still around but they kind of don’t count since they were here before us. So basically, if you’re poor in the U.S.A., you are automatically a loser and a deadbeat too. You will be treated as such by anybody not specifically either paid to deal with you or shysters selling bejesus, Amway, and drugs. Plus, it ain’t safe out there. Not everybody uses muhfreedoms to lift their truck, people be thugging and bums are very vulnerable here. The history of a large mobile workforce means nobody has a village to go home to. Source: https://askdaddy.quora.com/Are-the-poor-people-in-the-United-States-the-richest-poor-people-in-the-world-6   Profits from free accurate cryptos signals: https://www.predictmag.com/ 
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.