[MidKnight]

Originally Posted by DugDug »

....For JR, you have to constantly trade 3 units, sell 1 to cover costs, sell 1 at a take profit, run the last unit.
Keep pyramiding, so that by the end of a large run, you may have accumulated quite a large position with the trend.

Hi DugDug,

I've thought about this a lot for a while now but ended up thinking that the concept is in conflict. I mean if one is going to be scaling out quick and fairly quick (exits 1&2), but then later on adding to the winner (the pyramid part) - the whole thing seems in conflict to me. One is adding to the trade when the risks for continuation are diminishing. At least that is how I decided upon it Ya know what I'm saying?

With kind regards,
MK

[DugDug]

MidKnight and Kiwi -
I think this is probably a good discussion for a thread on its own. So I might actually start one (I think it might me a legitimate first for me) rather than interupt the current thread whose focus is different.
Needless to say I agree 100% with both of you..... to make good money trending trades are the way to go, taking part profits really only helps from a psyc point of view and if you can combine both a short and a long term style to flatten pl volatility and satisfy the mental needs as a trader then its the ideal situation.

I will start another thread, throw in some of my ideas I have been working on myself, and see if it can attract some interest, ideas, thoughts and happy happy joy joy.

[Marko23]

EUR/USD: waiting for Long

Triggered, spiked and dead!

Of course, price turned 1 tick above the stop.

[DugDug]

just per previous thoughts.... i have been busy rambling at http://www.traderslaboratory.com/for...html#post88151
(I need to be able to be more compressed)

Watching very closely 10yr - there is a GDP figure plus others out today which might change things, but I am looking to add to the short trade on either a abc rally to 117'285 With no massive spike through 118'5, and or a fall through 117'23

[thalestrader]

Originally Posted by thalestrader »

I do believe that ES does a dance off of that descending trend line before it mounts a rally. I have long term support on the Cash between 1052-1068, so we're getting close, I would think. But the longer it takes, the farther down that trendline touch will occur, if it occurs at all.

I'd have preferred this to happen during US Cash market hours, but we did get the touch and dance. Now, we wait and see if it sticks.



Best Wishes,

Thales

[thalestrader]

Originally Posted by thalestrader »

Operation Insane Rodeo Clown (OIRC) I'm still thinking that I'm early and that the EURJPY needs one more push down into the 124.37 level or so, but hey, I have to start somewhere.

Well, I was right in that the EURJPY had at least one more push lower before making a more sizable rally. I should have been more patient.

At any rate, here is the current EURJPY ...

Best Wishes,

Thales

[thalestrader]

Originally Posted by DugDug;88139...Needless to say I agree 100% with both of you..... to make good money trending trades are the way to go, taking part profits really only helps from a psyc point of view and [U

if you can[/U] combine both a short and a long term style to flatten pl volatility and satisfy the mental needs as a trader then its the ideal situation.

Hi Dug Dug,

Good stuff. I too agree - scaling out, which I do, does sem to do more to help from a psychological and emotional pperspective than it does an equity perspective. You are free to start a thread, of course, but I want you to know that discussions of this sort are very much welcome in this thread. In fact, I wish there'd be more discussion by those who do an all in/all out or a pyramiding approach to money/trade management here. Either way, thank you for for bringing this up; and for the Joe Ross coments as well.

Best Wishes,

Thales

[elitejets]

Hi
Here is my view of EURJPY (which is influenced by my short position!).
It needs to break out of the descending channel for me, so above 126.90 where it broke down the last swing and also then above 61.8 of the last swing would get me out.
On the weekly I use the fib from the start of the Sep08 drop (just because all the JPY crosses seem to respect that one better) and I am looking for 123 and the next fib level down.
I also attached my EJ weekly chart from last week, using the fib expansion levels from the last swing.
Have a great weekend guys.
Nicola