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Trading with Deadly Accuracy

  • #721
  • Quote
  • Mar 24, 2010 6:31am Mar 24, 2010 6:31am
Quoting lovejoy80
Nice work ...must have been a nice %R on EG trade.
how u doing lovejoy
it was definately more than 1R......lol
what i have noticed is even if you have 50% win rate with this method, you still come up on the winning side/your account still grows
another advantage is that this method helps with my patience, something ive been working on for a while now
gosh,look @ eu go....being waiting for the punk to come pick me up(the snail)
if my eu works out it cld be about 10R according to my plan....lol
definately post more as they develop
later LJ
Simplicity is the key to success
  • #722
  • Quote
  • Mar 24, 2010 7:09am Mar 24, 2010 7:09am
Quoting squeezy
how u doing lovejoy
it was definately more than 1R......lol
what i have noticed is even if you have 50% win rate with this method, you still come up on the winning side/your account still grows
another advantage is that this method helps with my patience, something ive been working on for a while now
gosh,look @ eu go....being waiting for the punk to come pick me up(the snail)
if my eu works out it cld be about 10R according to my plan....lol
definately post more as they develop
later LJ
I see the setup on EG. How do you decide where to put your stop?
  • #723
  • Quote
  • Mar 24, 2010 7:19am Mar 24, 2010 7:19am
Quoting pi piper
I see the setup on EG. How do you decide where to put your stop?
10 * spread
cant remember where the post wmd stated this but if you go throw the thread,you'll find it better explained
cheers
Simplicity is the key to success
  • #724
  • Quote
  • Mar 26, 2010 5:55am Mar 26, 2010 5:55am
is there a reason this doesnt qualify as a deadly accuracy trade? price didnt react at the level at all! lol, was wondering if im missing something thanks!
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  • #725
  • Quote
  • Mar 26, 2010 7:32am Mar 26, 2010 7:32am
larger time frames give more visible levels.
bull in a china shop
  • #726
  • Quote
  • Mar 26, 2010 7:52am Mar 26, 2010 7:52am
Quoting lisarenae056
is there a reason this doesnt qualify as a deadly accuracy trade? price didnt react at the level at all! lol, was wondering if im missing something thanks!
even on larger timeframes it could react the way it did on that chart, burst through with so much venom....
thats the difference btw playing them conservatively and aggressively.....you should know playing them aggressively, theres a higher possibility of that occuring.
one thing you should know is that the higher the tf , the stronger the level should hold...that doesnt mean it cant fail
btw is that your 1st try, now let me ask you...if it had worked what would have been the %R
anyways stick around & itll pay off at the end
Simplicity is the key to success
  • #727
  • Quote
  • Mar 26, 2010 8:15am Mar 26, 2010 8:15am
Quoting lisarenae056
is there a reason this doesnt qualify as a deadly accuracy trade? price didnt react at the level at all! lol, was wondering if im missing something thanks!
Prepared a chart to share my thoughts...had to be quick as off out, hope it makes sense.
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  • #728
  • Quote
  • Mar 26, 2010 11:00am Mar 26, 2010 11:00am
Quoting lovejoy80
Prepared a chart to share my thoughts...had to be quick as off out, hope it makes sense.
This is onen I am in...hopefully this also illustrates what I meant in my previous post about an obvious breakout area.
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  • #729
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  • Edited 3:47pm Mar 26, 2010 3:07pm | Edited 3:47pm
I don't think it's a bad thing if price rushes through a level of support (demand).
If you look at it from a trader's point of view who doesn't have in place a stop loss that's a quite tricky situtation.

Price is rushing through this level and takes them by surprise but now they see price is finally coming up again.
"All" the traders that have bought there now have an opportunity to react. They quit their trade (breakeven) and eventually take a short position.
That's what makes these areas good levels of supply, as many trader's sell back their buy positions there (and vice versa when price is moving towards a support level).

It didn't work at this level but when you see price shooting up like that, you can't always expect price to turn there. Maybe a short consolidation and then continuation north...

Greetings Flo
  • #730
  • Quote
  • Mar 26, 2010 5:15pm Mar 26, 2010 5:15pm
thanks for the feedback everyone, i think you're right lovejoy that i should be watching for breaks of areas with multiple touches of s/r, i looked back to some of the first pics wmd posted in the thread and that seems to be present in his levels, not sure how i missed that lol, hey where is wmd anyway? his last post was a while ago...

lisa
  • #731
  • Quote
  • Mar 27, 2010 4:18am Mar 27, 2010 4:18am
Hey Lisa,

I directed Theo to this thread, he said "nothing new", just a different way of explaining it, standard support/resistance price action.

WYSIWYG ("what you see is what you get")

It all fits together,
Jon ("pipbull")
  • #732
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  • Mar 29, 2010 6:40am Mar 29, 2010 6:40am
about to remove my order on this as it didnt hit my order & was asleep when the conservative entry occured....
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Simplicity is the key to success
  • #733
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  • Mar 29, 2010 6:48am Mar 29, 2010 6:48am
spotted this setup last night has the added bonus of TL and fib confluence (if it hits that area at the shaded box that would be a great setup for a short IMO.
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  • #734
  • Quote
  • Mar 29, 2010 7:10am Mar 29, 2010 7:10am
Quoting lovejoy80
spotted this setup last night has the added bonus of TL and fib confluence (if it hits that area at the shaded box that would be a great setup for a short IMO.

good eyes LJ, been waiting about 11 days now for this level
sucks when u have to wait a while and u miss the trade for one reason or the other, but what always puts a smile on my face is that my analysis was on point e.g. euraud
http://www.forexfactory.com/showpost...&postcount=718
Simplicity is the key to success
  • #735
  • Quote
  • Mar 29, 2010 7:20am Mar 29, 2010 7:20am
Quoting squeezy
good eyes LJ, been waiting about 11 days now for this level
sucks when u have to wait a while and u miss the trade for one reason or the other, but what always puts a smile on my face is that my analysis was on point e.g. euraud
http://www.forexfactory.com/showpost...&postcount=718
Yeah that does suck. If you draw a TL from the recent H4 highs it hit the TL and reversed it formed a great BEOB on my feed but it was too early for me to be awake to spot that!
  • #736
  • Quote
  • Mar 29, 2010 7:39am Mar 29, 2010 7:39am
Quoting lovejoy80
Yeah that does suck. If you draw a TL from the recent H4 highs it hit the TL and reversed it formed a great BEOB on my feed but it was too early for me to be awake to spot that!
i believe u r 1hr behind me, was asleep too
let me throw something at you, have a look @ 4hr gold chart whether u can see anything u like,
Simplicity is the key to success
  • #737
  • Quote
  • Mar 30, 2010 6:32am Mar 30, 2010 6:32am
chart
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Simplicity is the key to success
  • #738
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  • Mar 30, 2010 10:12am Mar 30, 2010 10:12am
its a late call folks, but this could be bop on cable
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bull in a china shop
  • #739
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  • Mar 30, 2010 10:37am Mar 30, 2010 10:37am
I wouldn't class this as a top setup but a break out from the shaded box followed by a hook then price going lower - price is close to retesting this area and top of the falling channel
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  • #740
  • Quote
  • Mar 30, 2010 10:39am Mar 30, 2010 10:39am
cable pairs approaching interesting levels.

gbp jpy short 140.77

gbp chf short in the 161's. (although i am technically long on this till 162.80)
bull in a china shop
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