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-   -   Jaydog's Vages/Tlatomi Trades and discussion (https://www.forexfactory.com/showthread.php?t=9544)

chantspel Oct 30, 2006 11:24am | Post# 21

Vegas Position Closed:
rrrrrrrrrrrrrrrr....gbp/usd looks like a higher number is in store for this pair .... will try a short again at1.9050 - 1.91 area manual stoped for -75pips
Just my opinion but you might want to wait for a reversal signal on the daily, cable could keep going up and you be getting stopped out continuouly.

jaydog777 Oct 30, 2006 3:10pm | Post# 22

Positions update
 
{wide table deleted}


Tlatomi Position closed:
usd/cad position closed + 38 pips woohoo!!

jaydog777 Oct 30, 2006 3:13pm | Post# 23

Just my opinion but you might want to wait for a reversal signal on the daily, cable could keep going up and you be getting stopped out continuouly.
thanks for the input ....

jaydog777 Oct 31, 2006 5:07am | Post# 24

Positions update
 
{Wide table deleted - you're welcome to repost the tables if the size is under 600 pixels wide}

clam61 Oct 31, 2006 9:45am | Post# 25

id be careful opening so many USD positions. they generally move in the same direction so you will win/lose all. this means you might be risking a lot of your capital on USD

jammymark Oct 31, 2006 11:03am | Post# 26

Jaydog,

Think that you add the 5/13/62 H1 system or model to your trading log or in identifying the shorter-term trades v. daily vegas, or to help, e.g. gbp this morning at 6am eastern retracing to 1.8960 or 62 level before big move up...

jaydog777 Oct 31, 2006 11:55am | Post# 27

man.....

everyone of my positions got stopped out ...big losses today

i am at work at the moment will post my position update later on .... time to sit back and rethink my stratagy....

any recomendations??

i have just been using stop's on my orders ...maybe i should start using stop reversals?

comments?

grillbritt Oct 31, 2006 12:12pm | Post# 28

Yes today was no good day... My USD/JPY tlatomi position got stopped out... but there will be better days!

jammymark Oct 31, 2006 4:16pm | Post# 29

Jay, as I said b4, I recommend that you use vegas daily but wait for the reversal candle on the gbpusd, as we have not see one as yet, and use the H1 5/13/62 EMA as on a shorter time frame, this morning with the gbp @1.8960 and higher, was still telling to long the currency v. shorting it... I suggest waiting for a reversal as well as a cross over from Nort to South to pinpoint entry level....

jaydog777 Oct 31, 2006 4:39pm | Post# 30

Jay, as I said b4, I recommend that you use vegas daily but wait for the reversal candle on the gbpusd, as we have not see one as yet, and use the H1 5/13/62 EMA as on a shorter time frame, this morning with the gbp @1.8960 and higher, was still telling to long the currency v. shorting it... I suggest waiting for a reversal as well as a cross over from Nort to South to pinpoint entry level....
good call jammy .... please post your trades when you make them .... i saw divergence on the 1h chart so i took a stab

zoopy Oct 31, 2006 5:04pm | Post# 31

Jay, what you could also do to limit your losses is to scale in gradually. I too took a trade on cable and the aussie but with 1 lot only. I use the 1 lot as a "pawn" or "guinea pig" to test the waters first. Once I'm into 20-30 pips profit, I will add my 2nd and 3rd lots in and my 1st lot the stop gets moved to breakeven.

clam61 Oct 31, 2006 5:58pm | Post# 32

good call jammy .... please post your trades when you make them .... i saw divergence on the 1h chart so i took a stab
hey jaydog

those divergence trades on GBPUSD and AUDUSD did work, i.e. the divergence did lead to a dip in prices, but because of news or whatever reason they were only temporary. thats why i only took a small position and i set my stop to BE as soon as i could.

i made a small profit on AUD, and got breakeven on GBP.

setting to BE stinks sometimes, as you can often miss out on trades. but as i have learned, itsa lot better to miss a trade than to lose money. as vegas says, missed trades cost you opportunity, but there are an infinite # of opportunities. losing trades cost you capital, which is defintiely not infinite.

i dont know how much money you have in your account, but your losses should never be big. remember, you should never risk more than 2% in your account. i often risk .5%, 1%. sometimes 2% if its a good trade.

when you decide to enter a trade, pick a logical stopping point, i.e. the last swing high/low, or some resistance point. from then, calculate how many pips this potential loss would lead to. from then, get a position size so that it reflects at most 2% of your account.

now 2% seems crappy, but this doesnt mean that your gains can only be 2%...and even if you do get 2% that is a decent profit. id rather make 2% consistently than have huge swings in my account. the point of the 2% rule is so that you can have 150 consecutive losses and stil have 50% of your account left. if you risk 5-10% or more, you have significantly less buffer.

jaydog777 Oct 31, 2006 6:52pm | Post# 33

hey jaydog

those divergence trades on GBPUSD and AUDUSD did work, i.e. the divergence did lead to a dip in prices, but because of news or whatever reason they were only temporary. thats why i only took a small position and i set my stop to BE as soon as i could.

i made a small profit on AUD, and got breakeven on GBP.

setting to BE stinks sometimes, as you can often miss out on trades. but as i have learned, itsa lot better to miss a trade than to lose money. as vegas says, missed trades cost you opportunity, but there are an infinite # of opportunities. losing trades cost you capital, which is defintiely not infinite.

i dont know how much money you have in your account, but your losses should never be big. remember, you should never risk more than 2% in your account. i often risk .5%, 1%. sometimes 2% if its a good trade.

when you decide to enter a trade, pick a logical stopping point, i.e. the last swing high/low, or some resistance point. from then, calculate how many pips this potential loss would lead to. from then, get a position size so that it reflects at most 2% of your account.

now 2% seems crappy, but this doesnt mean that your gains can only be 2%...and even if you do get 2% that is a decent profit. id rather make 2% consistently than have huge swings in my account. the point of the 2% rule is so that you can have 150 consecutive losses and stil have 50% of your account left. if you risk 5-10% or more, you have significantly less buffer.
thanks alot for the tips .... i will re-evaluate my strat.

at 1 point i was winning most of those trades untill the big rally ... i should have moved my stops up ... lesson learned.

jaydog777 Oct 31, 2006 7:37pm | Post# 34

Positions update
 
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Ouch! .....

Lessons learned:

1. only have a max of %2- %5 of my equity in open positions at any given time.
2. trend trade - i will only be opening Tlatomi positions with the current trend.
3. scale in and out of trades even with fractions of lots
4. move up stops to secure profits
<table deleted="" please="" repost="" as="" 600="" wide="" max=""></table>

clam61 Nov 1, 2006 3:29am | Post# 35

Jay, as I said b4, I recommend that you use vegas daily but wait for the reversal candle on the gbpusd, as we have not see one as yet, and use the H1 5/13/62 EMA as on a shorter time frame, this morning with the gbp @1.8960 and higher, was still telling to long the currency v. shorting it... I suggest waiting for a reversal as well as a cross over from Nort to South to pinpoint entry level....
if you only use candles (and no indicators) i recommend not just looking for a reversal candle, but also looking for the thrust that vegas mentions by using the 1hr charts. often things can retrace to create a doji, hammer, etc. but w/o the thrust, its not as reliable by itself

jaydog777 Nov 1, 2006 5:43am | Post# 36

Positions update
 
1 Attachment(s)
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Tlatomi position opened:
-Mouteki & Tlatomi indi's are a go
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jaydog777 Nov 1, 2006 8:30am | Post# 37

{table deleted. Please repost as 600 wide max}

Tlatomi position opened:
-Mouteki & Tlatomi indi's are a go
added 2 more lots @ 1.1320 SL @ 1.1300
moved 1st lots SL to BE @ 1.1304

clam61 Nov 1, 2006 10:38am | Post# 38

1 Attachment(s)
this quick rejection of the bull run might be the "thrust" we are looking for...
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chantspel Nov 1, 2006 10:47am | Post# 39

1 Attachment(s)
Possible spinning top forming on cable here... potential short for VWB
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zoopy Nov 1, 2006 10:53am | Post# 40

I noticed that reversal candlestick too. Take a look at the AUD/USD pair as well. It's also forming a possible spinning top.


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