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Quoting realjumper
{quote} I stand to be corrected, but I wouldn't think so. For instance, liquidity is low during holiday periods, but volatility is often high because smaller players (hedge funds etc) can move the market when the central banks are at the beach.....
Your spot on RJ
I am a fallible imperfect person; so I must be a fallible imperfect trader.
Quoting realjumper
{quote} 10 pips might be a bit tight to bring your SL to BE.....in many cases the normal market 'breathing' will take out that SL. Mostly I don't move until +20 unless it's a CT trade or something. Many of those EJ candles have been 5 - 8 pips...add the spread and you're in danger of getting knocked out! Still......getting knocked out at BE isn't so bad.....it just gets frustrating, that's all!
Yea i kinda understand now. EJ is not like EU. EU isnt as volitional as EJ, nowadays at least. Just watching EJ going south and with no end reason to get out of it in sight (exiting in terms of Genesis Rule 3), i can blame myself. At the same time, i'm not too mad (well not even mad just lucked out), because there will be more opportunities in the future. So my +1 at BE did hit, as you predicted heh. Being up 1 pip is better than nothing! . GL with your EJ trade, i am done for the day 1 pip positive and smiling!

The EU trade prior to Euro open was a great Genesis trade for those who entered. I had technical issues at work today and could not enter that trade.
Took this in a slow night yesterday
I waited for M15 signal before entry as conformation hence latish entry
PA below DP all day
Last move up was counter trend pullback
HTF stochs in nice positions
Took lucky exit.....................tired and went to bed
Would have left to TP and BE+20 SL but I noticed possible divergence on the M5 stoch so played it safe.

J
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Winning isnt everything but coming second sucks (Charlie Brown)
Had my coffee......................let's go!!
Yup...just finished dinner and done the dishes....coffee in hand....lets go!!
Doing what you like is Freedom. Liking what you do is Happiness.
Quoting jjre65
Took this in a slow night yesterday I waited for M15 signal before entry as conformation hence latish entry PA below DP all day Last move up was counter trend pullback HTF stochs in nice positions Took lucky exit.....................tired and went to bed Would have left to TP and BE+20 SL but I noticed possible divergence on the M5 stoch so played it safe. J {image}
That was a pretty good trade....the reversal would have been even better but us Kiwi's were asleep by then. Hope someone got it?
Doing what you like is Freedom. Liking what you do is Happiness.
Quoting hunter101
{quote} Yea i kinda understand now. EJ is not like EU. EU isnt as volitional as EJ, nowadays at least. Just watching EJ going south and with no end reason to get out of it in sight (exiting in terms of Genesis Rule 3), i can blame myself. At the same time, i'm not too mad (well not even mad just lucked out), because there will be more opportunities in the future. So my +1 at BE did hit, as you predicted heh. Being up 1 pip is better than nothing! . GL with your EJ trade, i am done for the day 1 pip positive and smiling! The EU trade prior to Euro...
Yeah...that's why it's so important to get to know the currency pair well if you intend to trade it. I know that (for example) that GU would require an even more generous space between price and BE much of the time......UJ spikes furiously when US news is announced etc etc......each pair has it's own 'personality' and so it's pretty well essential to know each pair well that you intend to trade. I have made the mistake in the past, the recent past, of watching too many pairs and my trading was suffering because of it. Fame Of Me reached the same conclusion and I think that Marty (please correct me if I'm wrong Marty) focuses on a couple of pairs only.

Also, as you say hunter, the 'personality' of each pair changes over time so we have to be on our toes....
Doing what you like is Freedom. Liking what you do is Happiness.
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
Quoting PipMonster1
Had my coffee......................let's go!!
Quote
Yup...just finished dinner and done the dishes....coffee in hand....lets go!!

I hope this doesn't lead into a stagnant 4 hour coffee coffee coffee session now you 2 are so eager to get going........
Quoting Jamz
{quote} {quote} I hope this doesn't lead into a stagnant 4 hour coffee coffee coffee session now you 2 are so eager to get going........
We have a bit of EU news this evening so we might get some action a bit sooner than yesterday....time will tell.
Doing what you like is Freedom. Liking what you do is Happiness.
Quoting realjumper
{quote} That was a pretty good trade....the reversal would have been even better but us Kiwi's were asleep by then. Hope someone got it?
Thks

Given the conditions I was pretty pleased
Good luck for tonight eveybody

J
Winning isnt everything but coming second sucks (Charlie Brown)
Have some positions from Tokyo session.
Took a long on AU, closed half position on 20 pips, another half closed on BE +2.
Took a long on EJ, SL 20 pips.
Took a short on EA, closed half position on 20 pips, another half still floating currently +18 pips.
All three positions are counter trend
Hope to have a more ideal setup this afternoon.

-dc-
Quoting dreamcatcher
Have some positions from Tokyo session. Took a long on AU, closed half position on 20 pips, another half closed on BE +2. Took a long on EJ, SL 20 pips. Took a short on EA, closed half position on 20 pips, another half still floating currently +18 pips. All three positions are counter trend Hope to have a more ideal setup this afternoon. -dc-
EJ long is not a counter trend, it IS the trend right now! All depends where you entered EJ. I could have entered prior to Tokyo open, but i entered a short (i should be very careful when trading and esp with CT (counter trend) trades. That is why having ASCTrend is essential to understand the direction of PA (i learned this from my loss trade this morning).

So to get back to the point, you most likely did not enter a CT trade on EJ, probably a 'Re-entry.' Any senior members can tell me if i'm right or wrong, would def be great to hear.

I'm just looking at EJ and EU. Better at 2 pairs than 3 or 4. The pips will always be there, better to do it with a pair that you know 'well.'
Quoting hunter101
{quote} EJ long is not a counter trend, it IS the trend right now! All depends where you entered EJ. I could have entered prior to Tokyo open, but i entered a short (i should be very careful when trading and esp with CT (counter trend) trades. That is why having ASCTrend is essential to understand the direction of PA (i learned this from my loss trade this morning). So to get back to the point, you most likely did not enter a CT trade on EJ, probably a 'Re-entry.' Any senior members can tell me if i'm right or wrong, would def be great to hear....
Sorry, my fault. It was a short position
It was such a nice EJ setup at the London Open. Very easy 27 pips and I missed it
Quoting nikz
It was such a nice EJ setup at the London Open. Very easy 27 pips and I missed it

Don't kick yourself nikz as it was a re-entry trade.

PM1
Quoting PipMonster1
{quote} Don't kick yourself nikz as it was a re-entry trade. PM1
Exactly right.

I took GJ rather than EJ, but it too was a re-entry trade. I must admit to being a bit hesitant to take it as ATR was close at LO, as was R3...but I took it anyway! I've got +30 locked in (just under R3) so we'll see
Doing what you like is Freedom. Liking what you do is Happiness.
Quoting realjumper
{quote} Exactly right. I took GJ rather than EJ, but it too was a re-entry trade. I must admit to being a bit hesitant to take it as ATR was close at LO, as was R3...but I took it anyway! I've got +30 locked in (just under R3) so we'll see
hi RJ

Is this where you entered?

J
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Winning isnt everything but coming second sucks (Charlie Brown)
Quoting jjre65
{quote} hi RJ Is this where you entered? J {image}
That looks about right...the entry was 5093. Not smartest entry for many reasons, but I got away with it
Doing what you like is Freedom. Liking what you do is Happiness.
Quoting realjumper
{quote} That looks about right...the entry was 5093. Not smartest entry for many reasons, but I got away with it
without nit picking my chart says 1st obstacle was R2..........?

J
Winning isnt everything but coming second sucks (Charlie Brown)
Quoting jjre65
{quote} without nit picking my chart says 1st obstacle was R2..........? J
Yep...and the BRN right there too.....and ATR limit approaching.....I really entered based on a Matrix signal, plus ASCTrend (arrow) plus momentum. It wasn't until after I entered that I saw all these things.....a real muppet trade from me, but I got away with it!

Edit: it was actually R3 in the way.....which is even worse!!
Doing what you like is Freedom. Liking what you do is Happiness.
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