dpdawson's trading journal

[NickB]

Out of curiosity what happens when that guy gets hit by a car or retires?

Originally Posted by dpdawson

I am not doing any technical trading.

The guy who's analysis I am using is usually right, so I am taking the trade because I like money.

[dpdawson]

I guess I'll stop making money off of his advice.

[dpdawson]

Added 2 lots at 105.76 to take advantage of the bounce and reduce my losses.

Closed out all 4 lots at 106.13.

Total for trade: -48 pips

[dpdawson]

"DAX.I down 5%, CAC down 5% and the USD/JPY only down about 60 pips. With this kind of volatility and stock market loss, the USD/JPY pair should have been down alot more. S&P electronic futures trading down 62 points.

Dollar is very strong across the board. Even gold is down 8 bucks, no flight to gold given the large equity declines.

If the US market was open today, the Dow would likely be down 600+ points."

I am back in long for 2 lots at 105.88. Call me crazy, stupid, or whatever you want.

[opie999]

No guts, no glory.

Good luck!

[dpdawson]

Sold 1 lot at 106.05 to reduce my exposure in the trade.

Total for trade: 17 pips

[oraj]

Originally Posted by dpdawson

"DAX.I down 5%, CAC down 5% and the USD/JPY only down about 60 pips. With this kind of volatility and stock market loss, the USD/JPY pair should have been down alot more. S&P electronic futures trading down 62 points.

Dollar is very strong across the board. Even gold is down 8 bucks, no flight to gold given the large equity declines.

If the US market was open today, the Dow would likely be down 600+ points."

I am back in long for 2 lots at 105.88. Call me crazy, stupid, or whatever you want.

O.K. Your crazy, stupid or whatever. Just kidding, dp, but have you abandoned using S/R levels completely?

Jim

[dpdawson]

Originally Posted by oraj

O.K. Your crazy, stupid or whatever. Just kidding, dp, but have you abandoned using S/R levels completely?

Not at all. That is part of the reason I sold 1 lot at 106.05.

I just respect this person's fundamental analysis. When he comes to the conclusion that fundamental analysis points more toward 109 than 104, I listen.

[dpdawson]

Sold 1 lot at 106.01.

Out of trade.

Total for trade: +30 pips

"This is just alot more than I bargained for when I opened this thing up. I was looking for a hard move down to around 11,750 and then a bounce back to 12,500 or so. The NIKKEI dropped 500 Monday and is down another 600tonight. I think we may be in for alot worse drop than to 11750. If so, then the bounce I was counting on back to 12,500 isn't going to happen.

Things change. I didn't expect the NIKKEI to keep spiraling down. When I don't fully understand the risk paramaters, it is time to move to the sideline and wait it out. I just have no idea how bad it could get Tuesday, so I'm gonna play it safe. Who knows, maybe I even get a better entry.

The real fear I have though at this point is the emergency Fed rate cut scenario. Just a normal drop probably wouldn't have elicited a cut, but the way things have developed in the last 24 hours, well, I have no idea now. If the FED cuts big, the dollar might take a hit and all pairs, even the USD/JPY might be taken down big. I'm just not sure how the market would react to a cut right now."

[NickB]

This analysis wouldn't happen to be by newstraderfx would it?