Setebos journal
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Thread: Setebos journal

  1. #1
    Having spent quite a while round and after the second finally came for me to start trading full time I'll be posting here a few previous and still open trades, analysis, suggestions and whatever may seem interesting at the moment.
    The reason I do not do this in my personal blog is because I came to understand that I want to separate trading from personal life, otherwise emotions will surely kill both.
    The intention of this diary is for me to be able to return and see what I did right, what I did wrong and finally what could be improved. I have a tendency to be quite inconsistent with blogs and journals but hopefully I will keep the power and desire to post here on a regular basis.
    On a different note - I do understand that this is a public forum but this thread is my own personal diary and it follows a specific purpose. Everyone's welcome to drop in, ask questions, etc, but I will not tolerate smart asses or (that I finds quite common round the FF) people coming and behaving like I owe them anything (knowledge, answers, etc).
    Having that said here are a few ready answers for any newbies that may come by this thread:
    - I do not use platform, I try to approach and understand the market each and every day
    - Market is ultimate, period
    - I scale in and out (more rarely) - I do not recommend this, I just do it
    - I do not use any indiors other then finally a MA
    - I trace a large number of markets, some of them on several time frames. I believe this is vital for anyone who is seeking to stay alive in this industry on the long term - you have to understand that this is sport of funds flows and feelings on a global level so in the event that you want to be good in the sport you want to know the rules.

    This should be a fair beginning I think. The remainder will come with time. Or not

  2. #2
    Not much to add now actually - was a pig over and was fortunate to get away with less then 1% drawdown. Need to place those feelings under control desperately. A couple of things I realized I missed searching after now:
    - Landscape
    - What the enemy is performing
    - Preparation
    - Strategy
    - Real time egy direction

    I am seriously thinking about not investing tomorrow for lots of factors. We've got an expression here that the morning is wiser then the evening so that I will see how I feel tomorrow and make my mind up then.

  3. #3
    First day of the week and the month - time to measure the landscape and determine what the possible scenarios/possibilities are. I have a tendency to follow both technical and macro economical studies so that I will lay some thoughts on both fronts .
    On a different note I don't like trading first/last days of the month for a number of reasons, so that I will leave the action to create itself and maybe place some transactions in NY afternoon.
    Considering that the season of the earning began markets happen to be playing weird with key interest focused in cable and YEN, while EUR is only after. I had only prepared a chart of EU showing a possible correction scenario however the racing NY volumes sent that straight to the garbage sending the price above a week's top. I am going to need to wait for the rush to calm and reevaluate the situation there.

    Cable was galloping north for quite a while already and it's becoming to look very overextended for me personally to say the least. We are now very close to the key 1,60 level so I'll be seeing that one with extra caution.

    The yen was a major battle lately being the main funding currency for carry trades. The Japanese economy does not really offer any signs of stable retrieval so the old deflationary downtrend remains in play there.

    On the fundamental front it appears things are finally calming down after the EU disaster and despite the parody the strain test results turned out to be markets are giving some value back into the older continent currencies. It's a different story that risk aversion might be slowly returning to US since the US economy is far from indiing a sound retrieval. Actually it's exactly the opposite - debt is piling and the only sector which managed to grow by any substantial margin is (surprise, surprise) that the Financial, where Wall Street is playing with taxpayers' cash to add some green figures into the GDP results. Focus is slowly turning to employment issues again where it's now obvious to everybody and their dogs the cooked statistics doesn't reflect the real situation. With the Dow stuck in no man's land again and worries of double dip arising again QE 2 might not be that far (or even impossible as a lot of pundits bravely declared from the tube). If that occur await for the dollar to go to hell again as the printing press pushes the weight of the debt stunt ahead of time for the generations to come.

    Edit: Seems the strain in the west is climbing again and what a surprise - GOLD exploded marking more then 1 percent for significantly less then 1 hour.


  4. #4
    Hi Setebos,

    You appears to have so much to talk about and I will be waiting maintain it coming my friend

    regards, be good and be safe.



    P.s. are you currently trading just 1 pair or you do crosses too?

  5. #5
    Quote Originally Posted by ;
    Hi,

    You appears to have a lot to talk about and that I will be awaiting keep it coming my buddy

    regards, be good and be safe.

    Dongsky

    p.s. are you currently trading just 1 pair or you do crosses also?
    Hey , thanks for dropping by
    I haven't posted here for some time for a number of reasons but I do intend to keep it going.
    So to answer your question - no, I exchange anything that grabs my attention with a strong bias to gold - that thing just ticks by the book when it's not heavily manipulated.
    I'm thinking of restarting the tradition of earning an summary of the week that passed and construct a few situations for the week ahead. . .something like a tactical overview, so to say

    I really don't see you about a lot recently - trading actively?

    Greatest
    S

  6. #6
    I will be seeing your journal from time to time my buddy and that is for sure.

    Yep I am actively trading and wanting to concentrate as far as I can; though I had been struck twice last week , I still managed to get a back last friday...

    regards,

    be great and be safe

  7. #7
    Yeah, PA is awful during summer time. Thank god August is coming to a conclusion.

    Regards
    S

  8. #8

  9. #9
    Quote Originally Posted by ;
    I'm tuning in
    Hey Mark, howzit goin guy, long time no word, hope all is fantastic
    Did you see what happened to England in the WC? Poor bastards

  10. #10
    Started making some analysis so couldn't resist to figure out he obvious... it is so bearish it makes me believe there's something wrong with this particular chart, hah

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