So you’re bored stiff, with no “intra day / short-term” trade set-ups blasting out from Kong eh?
Eh……..eh?
Well…..a full 3 weeks with currency markets trading (literally) flat as a pancake – what do you want me to do….make shit up? Would you rather I just spout off a bunch of silly levels n’ indications suggesting you put your little “starter accounts” at risk for what?? A flat market? Grind? Chop?
Boo hoo hoo…..
Welcome “back” to Forex. And welcome “back” to trading like a gorilla.
You’ve read here for a full year now, you know I don’t take stupid chances, you know I “call it like I see it” and you know I make bank.
It’s the “market” that’s been flat these past three weeks……………….
Not me.
thanks Kong…I needed that!
Boom.
I love short term trading don’t get me wrong…..I do it….and I’m really good at it.
But not when the larger term picture / landscape suggests “sit on my hands”.
You can’t force this stuff….and you can’t trade in “untradeable environments” as it will wear you out, and have you thinking “Ijust can’t win!!”
Learning to see / know / understand “when to trade” sits far higher on the totem pole than “how to trade”.
haha ,, some one is angry ,,
looks like people poking you for trades ,, relax man ,, take deep breaths ,, 😛
I enjoy it Farhan…I enjoy seeing newbies learning – and for the most part everyone here at the blog has been very respectful etc…
But…..I also need to get the point across. As with the prior commment / response….
We can only trade what we see in front of us…..and when I “don’t like what I see” – I don’t trade.
Learning to “pick your battles” goes a looooooooong way in this game.
I also like stirring the pot / poking at others too so….it works both ways!
Hey Kong… nobody’s blaming you 🙂
It’s been painfull to watch the market….short AUDUSD – everytime it gets close to my average position it’s bought and shoots back up, hope this time it’s different. I’m tired of watching average position line acting like the biggest support ever. I really dont want to hold it for 2 years 🙂
Sideways is a bitch – no other way to say it.
Rolling over here I feel….and the post is just a post.
I like to rattle the troops once in a while myself, and this “extended period” of chop / sideways brings about a good point – which you’ve touched on as well.
Painful market = no trades for those of us that do this for a living.
Hopefully this may “temper” some new comers “continued need” to push the buy and the sell buttons, and possibly keep them in the game a little longer.
HaHa! Good post kong. Don’t call it a come back! To quote good old LL
Lol.
We “trade markets” we dont f”#%)kin “invent them”.
If I’d of had more to say this month…I’d of said it.
New comers are too busy watching silly short term indictors etc…and not “stepping back” to evaluate the overall trading environment.
We’ve touched on it here several times….and it’s nothing new to you JSkogs….a time to step on the gas peddle, and a time to step on the break.
I’ve been tapping the breaks for a solid year now…..but can’t very well explain that to an “overly eager” new comer….
There are some lessons I imagine we all need to just learn for ourselves right?
Ya I was guilty in the past of being too optimistic so my position sizing would not be to the defensive on the way in. I view my starter positions pretty defensively. I pick aggressive in terms of timing but not in terms of sizing if that makes sense. And the fear of missing out…..totally understandable for the thought to cross a guy or girls mind but really such a waste of time. Forex turns take for-freaking-ever to happen! At the bare bare minimum you have 4 hours to enter a trade…..if you can’t place an order in 4 hours then you shouldn’t be placing orders at all…..because you are obviously drunk and probably making bad decisions. I have been adding to yen positions for probably 2 weeks now. Slow game but with patience the gains can honestly be obscene.
And ya learning for yourself….taking a big loss can teach a person a ton. Hopefully not very many people have to experience it. I did and it scared the living shit outta me. If it doesn’t and you take a big loss a second time…then you are just gambling and should move on to a cheaper game.
Bang on Jskogs.
Is there anyone annoyed you, Kong?
No no Careydina….he he he he…..
Everything is fine / all good here with me!
Sounds like you’ve been trading quite well! Keep it up!
Yeah! We all traded like a gorilla hehe.. Still waiting the lowest of gbp/usd to get long position(of course never get the lowest level but good level). In long run, pounds will get stronger.
Picking and choosing your battles is key. The newbies must understand this. I myself am relatively new to markets and sometimes find I pull the trigger too early due to the fear of “missing out”. The key is to wait, and stick to the plan once you see opportunities.
Easier said than done though so don’t get me wrong, but hell Kong is right, there are such things as “untradeable environments”….Kong a few posts back you mentioned the Kongdicator using price action well but can’t predict the inevitable choppy/consolidated times (I use price action myself)… but I’m curious…at what point do you recognize prices are choppy and its best to stay out?
For me personally I look at price a few days prior to the candle I am looking at, and if it’s scattered I am weary, but curious what you will say? Perhaps you don’t look for visual cues, but determine choppiness based on “hazy” fundamentals at times?
Thanks
Rob
As the blog has grown so quickly I’ve been “less inclined” ( is that even proper english? ) to “blast” readers / poke fun / slam traders in that…I do so appreciate the readership.
HOWEVER!
I haven’t lost sight of the fact that this is “my blog” – and will continue to “do what I do” and “say what I say” when / how I want.
It’s a slippery slope now….balancing the interests of long term “fundamentalists” as well the “short term trading crowd” buy hopefully everyone can still grab a little bit “here and there” and all can keep learning / contributing.
You Rob…..pose poignant questions / suggesting you’ve got your head screwed on right. If you are new to trading, I imagine you’ve got a jump up on the masses.
Kongdictor is rarely “if ever” wrong….but if you’ve been following along…this is the firs time in a full year that I’ve questioned / debated flat out…..could I be wrong?
It’s all about the Fed.
It’s about the fundamental landscape distortions via “taper or no taper” or ” Qe to stop or continue” that has ol Kong on the fence a day er two here in Feb.
In all I laugh about it considering that….”in theory” we’ve just seen the largest market moving factor “EVER” ( the taper to continue or no ? ) create a “small blip” so…..I can handle a bit of “indecision” at this junction.
Do I know they will follow thru with tapering? No.
Do I think they will fold and implement more QE? Yes.
Do I risk my life savings while these idiots toy with markets like puppet makers? No.
I was as close as throwing in the towel on trades as I’ve ever been these past few days….but still “stuck to my guns” now in profit on many / break even on a couple. A full 3 weeks chop is scary as hell for anyone…consdering the fundamentals could swing on a dime here.
F the Fed….and we’d all just hang out here and make millions.
Such is not the case…….for now.
Thanks Kong,
I’ve been in the trading game about a year and half. It’s good to know that when conditions are shit, as they have been last couple weeks, I’m not the only one finding it a tough go. Learn from the pros people, when conditions are crap take solace in sitting. Don’t force the market. Am I right Kong?
Cheers
“Why is the rum gone? …Oh, That’s why…”
Exactly.
the key is learning to “recognize your environment” and then trade accordingly.
I don’t mind 3 weeks sitting….when I do 12 -15% etc in 72 hours.
Minimal market exposure/maximum profit = stay in game longer.
Staying patient and appropriate like Kong – I’m learning !
>>….make shit up?
LMAO!!!!
Hey K, made up shit is better than no shit at all!!!
One can make a few bux with casino money and trading minute charts….but don’t bet the ranch! Or hacienda, whichever the case may be.
Love the macro analysis. I keep coming back.
Dev
Thanks man….
Get in here when you can – I appreciate it.
Anon?????
It is I, Dev! The big boss with the red hot sauce.
Dev!
Not sure how / why you showed up anonymous but yo!
Forgot to mention…
Fade the next A/U bounce and win a chicken dinner.
I’m eternally “short” AUD.
JFC!!
Ain’t it funny how the A/U bounces keep getting lower?
Vodka and olives, Tequila and lime, what’s the diff.
My maid needs a massage. Later.
I have added my last 25% to short AUD/NZD here with an 8hr neg fire – posting up…. will ride it for what it’s worth here…
Still eyeing the USD/JPY pair – here just does not want to break either way on the 4hr & 8hr….. so I wait….
PM’s getting hammered in Asian trading here…. Neg fires all day from the 1hr,2hr4hr & with the 8hr on the chopping block here… could take silver down to $20.50 range should that one fire off as well….. that would or should be it & provide an good entry point…
I can only see a miracle reversal here to stop the bleeding & avoid a 8hr Neg fire…
Cheers Schmed,
Something smells here. I dont think this is the train (risk-off) I was waiting for to jump on again after the Feb recovery. Markets are playing the Ukraine-Russia-Kindergarden-cold war-game. Bullshit. Who cares about this “mafia backyard”. I’ve read that 20 billion Euro of investments are on the risk. Peanuts. Looks to me like a artificial stop running before some serious risk-on actions will set in.
Greetings from Germany
Babbelarsch.
It’s a tug of war over Ukraine as the U.S needs/ wants her in the fold along with the E.U countries to increase it’s military positioning on Russia.
The “billions” are of no issue. Looking ar Ukraine on a map…WOW! What a strategic position considering all of Euro Zone / the proximity to Russia.
I said it about Syria and was right…but now question what will happen with Ukraine.
If they go the way of the IMF….things are gonna get REAl interesting
Germany! I love Germany!
Loving your work Kong.
I haven’t posted for a while but I’m here every day.
Also reloading short AUD here @ 89.64.
I’d post my chart if I could…………..lol. Man, cant believe that was so long ago.
Hi John.
It does indeed “fell like forever” as we’ve watched AUD move sideways for so long, as well many other currency pairs.
These kind of market dynamics can really get you second guessing, and a little on edge. Personally I don’t like “waiting this long” and rarely do so….but as it stands – it looks like we’re slooooowly roundddddiinnnng the cooornnneerr..
Aud “can’t” have much life left in it.