Monday, June 23, 2014

End of my day trading days

I realized a while back that i would nail big moves with great accuracy, but I'd always end up going broke over leveraging on short term movements, day trading, etc.

I've told myself a couple times now that I was going to be giving that up and sticking to the longer term/ bigger movements.  That is clearly where the big money is made.

After reading a bunch about Jesse Livermore and trying to pick up from his experience, I see that he realized the same thing and it wasn't until he gave up the short term movements for the big moves that he started piling in the big money.  I intend to do the same thing.


My most recent big move that I have been expecting seems to be underway. It is the stock market and currency of Russia.   RSX and the Ruble (USD/RUB EUR/RUB)

The RSX is up over 25% from the lows made a few months ago, when there was panic selling (almost always a good time to buy) … The Ruble is up 8-9% from the lows.  Both of these were 100% expected.  But I didn't participate. Was too busy losing money in short term movements.

Russia has it's own big search engine, the Google of Russia -- YANDEX  (YNDX) 

This stock is up over 50% from the lows.  I hope to come up with some funds and have good enough timing to see the russian market sell back off and get some good entry points, ideally using Pivotal Points, where I can have comfortable entries and be sure of my positions.



In the currency market it does look like EUR/USD has topped out. i had a great entries at around 1.3930-13940 range, it hit 1.4 on ECB news and then got slammed down over 150 pts that same day for a huge one day reversal, a known trend changing signal. 

GBP/USD however, has continued a bit higher from that point, reaching its extreme Pivotal Points of 1.7043-1.7050. This is a very strong area, the GBP has not passed this level in 5 years and traded sideways down to 1.4230 from this level.


As of right now I have sent out a few 'probe' trades that have started off well, but it seems the market may come back up there again this week.  I have 3 entries and will add more if the trade moves my way.  I have 3 shorts at $40 a point: one at 1.7040, 1.7035, and one at 1.7032.  If the trade continues lower, signaling to me a reversal pivotal point move, I will look to add an $80 a point position on a normal reaction (retracement) from the next sell off.




You can see what a massive move this has been for the past year.  The point we have just reached is a very serious pivotal point… it either will plunge way higher or most probably start a new downtrend.




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