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  • #281
  • May 15, 2008 1:34am May 15, 2008 1:34am
Quoting mbqb11
yep this could be a fun session, free rides on usd/jpy gbp/jpy and usd/chf, one loss on gbp/jpy anyone in the same boat
Not as good of a boat as you, but a free ride on the Usd/Jpy with decent size.
  • #282
  • May 15, 2008 1:37am May 15, 2008 1:37am
Quoting mbqb11
yep this could be a fun session, free rides on usd/jpy gbp/jpy and usd/chf, one loss on gbp/jpy anyone in the same boat
I took the 0400 IB on the usd/jpy because it broke the 0400 IB first. How pretty was that usd/chf IB break. Nice.

More like a TBL break on the usd/chf
Indicators show the past. Price Action "Indicates" the future.
  • #283
  • May 15, 2008 1:45am May 15, 2008 1:45am
Quoting david_akc
Hello sorry to intrude
Think your on the wrong thread, brother.
Indicators show the past. Price Action "Indicates" the future.
  • #284
  • May 15, 2008 1:47am May 15, 2008 1:47am
Quoting mbqb11
yep this could be a fun session, free rides on usd/jpy gbp/jpy and usd/chf, one loss on gbp/jpy anyone in the same boat
Nice trades.

I used CHF as a filter for GBP/JPY and that kept me out of the long as CHF was sold from the Frankfurt Open. The short in GJ was good http://www.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #285
  • May 15, 2008 1:48am May 15, 2008 1:48am
Quoting Islander
Nice trades.

I used CHF as a filter for GBP/JPY and that kept me out of the long as CHF was sold from the Frankfurt Open. The short in GJ was good http://www.forexfactory.com/images/icons/icon12.gif
Interesting. Thanks.
Indicators show the past. Price Action "Indicates" the future.
  • #286
  • May 15, 2008 1:52am May 15, 2008 1:52am
Now a nice setup would be (just to see the future) that a IB would form on the gbp/jpy and usd/jpy at the 0700 candle. Then play the break of the bottom.
Indicators show the past. Price Action "Indicates" the future.
  • #287
  • May 15, 2008 2:21am May 15, 2008 2:21am
Quoting jarroo
Now a nice setup would be (just to see the future) that a IB would form on the gbp/jpy and usd/jpy at the 0700 candle. Then play the break of the bottom.
LOL Jarroo - I just posted elsewhere about a daily IB type of set up and I'll share it here too. Its based on a combination of volatility as defined by the daily range - yesterday's was 156 pips vs the 50 day average of 267 pips - i.e. < 60% of the average. Also it was the narrowest range of the past 7 days (excluding Sundays) - these two combined indicate that a breakout of the daily range will be a tradeable move. However, this is based on the work of Crabel / Conners / Raschke on the Stock Markets - I've not back tested it on FX, but I believe it would compliment the idea of this thread.

Anyway, I'm still short GJ!

Edit: I have yesterdays' low as 203.38
Trading Levels with WRBs
  • #288
  • May 15, 2008 2:56am May 15, 2008 2:56am
Quoting Islander
LOL Jarroo - I just posted elsewhere about a daily IB type of set up and I'll share it here too. Its based on a combination of volatility as defined by the daily range - yesterday's was 156 pips vs the 50 day average of 267 pips - i.e. < 60% of the average. Also it was the narrowest range of the past 7 days (excluding Sundays) - these two combined indicate that a breakout of the daily range will be a tradeable move. However, this is based on the work of Crabel / Conners / Raschke on the Stock Markets - I've not back tested it on FX, but I believe it would compliment the idea of this thread.

Anyway, I'm still short GJ!

Edit: I have yesterdays' low as 203.38

Sounds top notch. Interesting.

Looks like we'll get an IB for the 0700 usd/jpy and gpb/jpy
Indicators show the past. Price Action "Indicates" the future.
  • #289
  • May 15, 2008 3:10am May 15, 2008 3:10am
Da ja vu. All over again. On the usd/chf. Maybe?
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #290
  • May 15, 2008 3:36am May 15, 2008 3:36am
Quoting jarroo
Da ja vu. All over again. On the usd/chf. Maybe?
Maybe not. LOL
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #291
  • May 15, 2008 4:19am May 15, 2008 4:19am
Peter's trade from Monday.

We'll get there.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #292
  • May 15, 2008 5:12am May 15, 2008 5:12am
GBPUSD. I wanted a bit more bullish movement before loading shorts but let's see what market gives.
Attached Image
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #293
  • May 15, 2008 9:50am May 15, 2008 9:50am
hey soso,

I was looking at that gbp/usd inside bar trade as well but decided not to take it. My understanding from petercrowns posts are that the inside bar indicates a consolidation and we trade the break out. The inside bar on the gbp/usd that you have in the chart has almost a 40 pip body. This just does not indicate too much consolidation to me and the risk would also be greater. The gbp/usd was also not showing clear direction this morning.

Peter says that he has some filters and only takes the best inside bar trades. I don’t know if having a bar with a large body is one of the filters though. Just thinking that we might need a little bit more consolidation.

It ends up though that the trade did go reach 1:1, so congrats.

I really enjoy this method and look forward to exploring it with u guys on this forum.

Edwin
  • #294
  • May 15, 2008 9:59am May 15, 2008 9:59am
Quoting edwinnk
hey soso,

I was looking at that gbp/usd inside bar trade as well but decided not to take it. My understanding from petercrowns posts are that the inside bar indicates a consolidation and we trade the break out. The inside bar on the gbp/usd that you have in the chart has almost a 40 pip body. This just does not indicate too much consolidation to me and the risk would also be greater. The gbp/usd was also not showing clear direction this morning.

Peter says that he has some filters and only takes the best inside bar trades. I don’t know if having a bar with a large body is one of the filters though. Just thinking that we might need a little bit more consolidation.

It ends up though that the trade did go reach 1:1, so congrats.

I really enjoy this method and look forward to exploring it with u guys on this forum.

Edwin
Hi Edwin,

I agree with your reasoning, right on. Looking for true congestion IBs give us a much greater Reward to Risk indeed.

I took the trade because I expect the down trend to be resumed (I have my own daily system that I use and from this system I also take hints for the direction). Timing could be wrong though.

I didn't have a chance to close half at 1:1 mostly because I use Oanda and I can't manage a trade in a proper way. No trailing stops, no clear possibility of closing parts of a position, no OCO orders. I had enough of it and will move to another platform pretty soon.

Cheers,
-soso
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #295
  • May 15, 2008 10:17am May 15, 2008 10:17am
Quoting soso
Hi Edwin,

I agree with your reasoning, right on. Looking for true congestion IBs give us a much greater Reward to Risk indeed.

I took the trade because I expect the down trend to be resumed (I have my own daily system that I use and from this system I also take hints for the direction). Timing could be wrong though.

I didn't have a chance to close half at 1:1 mostly because I use Oanda and I can't manage a trade in a proper way. No trailing stops, no clear possibility of closing parts of a position, no OCO orders. I had enough of it and will move to another platform pretty soon.

Cheers,
-soso
They allow you to close multpile partial profit, lets say u buy 1.000 units and u want to close half at 1:1 then just put a sell limit of 500 units at 1:1 level and thats it (or sell 500 units at market price when it reachs the level in which u want to take some out)... Since they dont allow hedge in same account this is how u manage partial profit taking as many times as u want..

LOL u want to leave oanda and i just move in with them because of flexibility..

Hope it helps

Mat
  • #296
  • May 15, 2008 10:26am May 15, 2008 10:26am
Quoting jarroo
Peter's trade from Monday.

We'll get there.
This chart got me thinking yesterday.
At which point do you guys think moving the stop to B/E is best?

Because if you notice in this chart, the bar around 9:00 on the 13th (the pin) looks like it would have taken you out at B/E if the stop had been moved.
(The first pin with the check mark would've hit the SL as well if it was moved to BE. Price had already moved up about 70 pips before that)

What are your thoughts?

Thanks
Tom
  • #297
  • May 15, 2008 11:00am May 15, 2008 11:00am
Quoting Matiasfx
They allow you to close multpile partial profit, lets say u buy 1.000 units and u want to close half at 1:1 then just put a sell limit of 500 units at 1:1 level and thats it (or sell 500 units at market price when it reachs the level in which u want to take some out)... Since they dont allow hedge in same account this is how u manage partial profit taking as many times as u want..

LOL u want to leave oanda and i just move in with them because of flexibility..

Hope it helps

Mat
Hi Mat,

I know that, I use Oanda for 2+ years already. But is still no good. For example you buy 1000 units and put the 1:1 order to sell 500 units and leave the computer. You come back have the 1000 position closed at SL then price reversed and hit your 500 order. Now you have 500 units short!

The issue with Oanda is deeper, at least for for me, they have almost no way to auto-manage trades. But let's stop here to not clutter this thread.

Back on topic, I see that SL was hit, no problem, till next time.

-soso
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #298
  • May 15, 2008 12:45pm May 15, 2008 12:45pm
When an IB forms and I take the trade and it moves quickly down for 21 pips (I then take the 21 pips off the table) and then moves back up in to the IB. My question is: Is it wise to reenter if it goes up in to the IB and then back down past the entry point
Attached Image (click to enlarge)
Click to Enlarge Name: gj ib.gif Size: 20 KB
It's All About Attitude ...
  • #299
  • May 15, 2008 2:02pm May 15, 2008 2:02pm
Quoting Billser
When an IB forms and I take the trade and it moves quickly down for 21 pips (I then take the 21 pips off the table) and then moves back up in to the IB. My question is: Is it wise to reenter if it goes up in to the IB and then back down past the entry point
Well I wouldn't scale in around the same level. Reasoning being that if the market came back inside IB then probabily the momentum is not favoring our direction...
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #300
  • Edited 4:18pm May 15, 2008 3:08pm | Edited 4:18pm
Quoting edwinnk
hey soso,

I was looking at that gbp/usd inside bar trade as well but decided not to take it. My understanding from petercrowns posts are that the inside bar indicates a consolidation and we trade the break out. The inside bar on the gbp/usd that you have in the chart has almost a 40 pip body. This just does not indicate too much consolidation to me and the risk would also be greater. The gbp/usd was also not showing clear direction this morning.

Peter says that he has some filters and only takes the best inside bar trades. I don’t know if having a bar with a large body is one of the filters though. Just thinking that we might need a little bit more consolidation.

It ends up though that the trade did go reach 1:1, so congrats.

I really enjoy this method and look forward to exploring it with u guys on this forum.

Edwin
Excellent point ed.

The tighter the IB the better, which would also have less trade risk.

Even if the trade did go well,(IB on Gbp/Usd) you still have to say "so what." We want to be looking for the highest probability trade as it relates to Inside Bars.. be it size of the IB, time of day, etc.

I'm sure this is one of Peter's filters. I don't know. It is probably more in line with what Islander explain in post#287. Dealing with volatility as defined by the daily range.
Indicators show the past. Price Action "Indicates" the future.
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