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- CitiTrade replied Dec 22, 2008
Actually when you hit negative with the D1 system is the day when the trend reverses. Eventually you can catch up the next day. So there one (at least) confirmed loss that I have been able to discover with the D1 is when the trend reverses. But it ...
- CitiTrade replied Dec 9, 2008
Missed the action again this week (again, Monday was a good day). Where did you guys enter the short that is in profit now? I am retracing what went on yesterday and today (another good way of learning).
- CitiTrade replied Dec 5, 2008
Oh, it was I who brought that up. Last Friday I closed my position around noon EST because it looke like it was going against us. So I got in about 79 pips on the last trade instead of being in the red at the end of the day. I did the same this ...
- CitiTrade replied Dec 5, 2008
Oh wow.. check out this last 5 minutes massive short action on the G/U.
- CitiTrade replied Dec 5, 2008
Yeah, risk aversion.. many went for the dollar as a safe haven, being the lesser of two evils, etc. etc. By the way, I know you Toni and Sterling know a thing or two about scalping, do you guys think scalping E/U is safer/more profitable than G/U?
- CitiTrade replied Dec 5, 2008
Oh, thanks for the reminder. I am telling you, I am really really starting to hate the Cable. I mean so many damn false breakouts. Why is this biatch keep climbing up this afternoon, *od only knows. After breaking all sorts of support yesterday, I ...
- CitiTrade replied Dec 5, 2008
I see where you're going with this. So to rephrase, if you have a live order you look for a setup bar going the other direction so you can exit. If you have a pending order, you look for something to trigger it (i.e. a reversal bar). And meanwhile, ...
- CitiTrade replied Dec 5, 2008
Yeah, that's what I have too. But what's throwing me off is, it is a continuous process and sometimes I get confused as given the stage we're at, do we look for a reversal bar or a new setup bar. I perfectly understood your answer, but it seems to ...
- CitiTrade replied Dec 5, 2008
A simple question which just crossed my mind when I was looking at the charts.. When do we look/wait for a reversal bar and when do we look/wait for a setup bar? (because currently I am confused as to what we're looking for)..
- CitiTrade replied Dec 5, 2008
Now I remember why I swtiched to technical trading. I swear news can drive you insane. In less then one minute you get a piece of news telling you that the Cable is done with the down trend because the cut yesterday was satisfactory and there is no ...
- CitiTrade replied Dec 5, 2008
Hey, your name is not Roger.. LOL
- CitiTrade replied Dec 5, 2008
The bar which closed 20 minutes ago (6 am EST) is a short setup bar, so: live (from 1.4737) buy SL is @ 1.4629 pending short is @ 14629 with SL @ 1.4760 Do we have a roger on that?
- CitiTrade replied Dec 4, 2008
Thanks Ster for your insight. I too am following up closely the fundies this early morning. Like you said, it is a great way to make a quick buck if you know what you're doing. Problem is, some of the anticipation of the rate cut has already been ...
- CitiTrade replied Dec 4, 2008
When did we become short??? Yesterday's short was closed by hitting the SL placed at the 50% at 1.4771!!
- CitiTrade replied Dec 3, 2008
Just in case Toni is not logging on today, the answer is no. You need to have 2 failed reversal bars to use the 50% rule, because it is used when you're out of a trade usually (you usually would cancel the pending order in case you didn't get a ...
- CitiTrade replied Dec 3, 2008
BTW, now any setup bar will be good enough (short or long)?
- CitiTrade replied Dec 3, 2008
True. It already happened to me once. So I am keeping this one for the system and I didn't cash it.
- CitiTrade replied Dec 3, 2008
No. At one point your sell was in profit of over 150 pips (in fact it was 1.4880 - the lowest ever of 1.4662 = 218 pips). And you get 2 failed reversal bars, so you have no place to place the SL. This is when you invoke the 50% rule. 218/2 = 109 ...
- CitiTrade replied Dec 3, 2008
Invoked the 50% rule; locked in the sell's SL at 1.4771 (+109 pips), and canceled the pending buy. If we exit now at market price, there would be 50 more pips for the sell. Any thoughts..?