10.4 A Complete System

[mjws00]

Booked profit on EURNZD, EURCAD 50+, Closed EURUSD BE+. I want these from closer to 240 when the gaps shake out. Have AUDCAD Running.

I need a more liberal EA. Gonna have to move to the scripts to get the numbers there. 110 easy ones is OK.

[nanningbob]

big gaps all over the place some 150 or more. Eur/usd quite a drop there. Took SL hits on eur/jpy and chf/jpy but SL included the gap so much bigger than normal. Took profit on eur/usd, eur/nzd and usd/chf. For some of you it may have been a while since you have seen these. Guys with big lots and tight SL got to fill their pants this morning. Me, well you know small lot hits just another day at the park and I still get to trade again. Gonna sit this one out for now. See you before the euro open.

[Wkcfx]

Caution any Eur trades. Big news and vote coming out of Cyprus.

Edit: Grimweasel got it already, sorry
wk

[nanningbob]

Caution any Eur trades. Big news and vote coming out of Cyprus.

Imagine a small island moving the world. Gotta love the computer age.

[grimweasel]

NBob - I think the worrying trend from this small island is that Germany forced this issue. It has huge implications for wider Europe and I wouldn't be surprised to see a mass run on banks across Europe. What Euro leaders have effectively done is to say to all savers across Europe that your savings are fair game in helping in bailing out the higher ends of society who caused all this mess with their profligacy in the first place. The potential for civil unrest has increased and I think no QE can save equity markets now. This effects the common man that really had nothing to do with the financial crisis in the first place. The top 10% of society with all the money and those that may have had a hand in this crisis in the first place remain shielded. Off topic I know, but this just goes to show that Systemic risks can occur and no chart or Tech Analysis could predict this. Funny how it all happens over the weekend when markets are shut AND the big money exited profitable positions on Fri during Quad witching on Options. There were also some large Selling on Strength numbers on the S&P. Apple printed a massively high number.

http://online.wsj.com/mdc/public/page/2 ... yflow.html

[grimweasel]

That link above is worth following each day as it shows what the Big money is really doing. Institutions that move markets need to SELL into strength so as not to alter positions against them. Same is true of buying. When you see a week or so of markets moving up but large SoS numbers on the S&P ETF for example, it shows smart money is exiting. Plus we are approaching Summer- always weak for EQ.

Last week I took a position in a Covered Warrant for Gold at 1700 by Dec 13. The sell off in gold has been overdone and indiscriminate IHMO. This Cyprus issue just goes to show how knackered the Global Economy really is. Buy physical gold and Sliver now before the price takes off!!

[nanningbob]

IF some of you in other countries wonder why Americans wont give up their guns. This is one reason, you watch what happens to the gun fight in the USA now. Those of you who live in the USA would understand what would happen if they tried this in Montana, Arkansas, Idaho, Colorada etc etc. Sorry for some of the political crap Steve, hope you forgive me.

European finance ministers have agreed an £8.7bn bailout for Cyprus which includes all Cypriot bank customers handing over up to 10% of their savings.

http://www.guardian.co.uk/world/2013/ma ... lout-anger

The levy on bank deposits will come into force on Tuesday, after a bank holiday on Monday. Cyprus will take immediate steps to prevent electronic money transfers over the weekend.

[nanningbob]

One of the things that drove me from Forex Factory was the constant personal attacks I took for defending low leverage/small lot trading. It is events like these that allow me to trade another day. No SL stops a gap. You take the big loss which may take you weeks or months to recover from. Also this can happen during the week also. If this story broke on Wed. you still would not have a SL guaranteed. I can lick my wounds and still be profitable this week. Other folks ............................

[nanningbob]

Today maybe a sit and watch what happens day. Cant sell the Euro now dont know if it will keep going or stop like the gbp did several weeks ago on their gaps. I played the gbp gaps and ended up doing recovery trades for 10 days.

[Guest]

Caution any Eur trades. Big news and vote coming out of Cyprus.

Edit: Grimweasel got it already, sorry
wk

when are they voting ?