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Price Actions- EurUsd

  • #1,061
  • Apr 10, 2019 6:59am Apr 10, 2019 6:59am
Quoting oblong
{quote} Yeah, cool sounds like I ve still got long time yet to get head around the timing. I agree on indicators, Ive stopped using them for a while now. I might use FIBS after I marked up the chart just out of interest to see how close they are to my markings. But all others dont bother with. Wish I had dropped indicators ages ago and focuses on price action supply / demand areas and the timings of entries and markets (still struggling with this to find a connection)
Fibs are also exaggerated or overrated. The truth is, instead using fibs to see where market is holding, mark the prices with simple lines and see if it does hold over a cycle in sessions. Only, only this way you will start seeing the real fib that works. And it's not that fib you draw, it's simple lines. Not too many just two or three
Time Is Money
  • #1,062
  • Apr 10, 2019 7:03am Apr 10, 2019 7:03am
Quoting abajiga
{quote} Fibs are also exaggerated or overrated. The truth is, instead using fibs to see where market is holding, mark the prices with simple lines and see if it does hold over a cycle in sessions. Only, only this way you will start seeing the real fib that works. And it's not that fib you draw, it's simple lines. Not too many just two or three
In other words, you the trader need to see things coming or forming, not fibs. You need to dissect that chart like the doctors dissecting humans. You need to see things coming up or the next move where it is heading to. You need to make the decisions and be responsible for protecting and looking after your account. It's perfect now you using the demo, but you need to go over your results and constantly see where you could have improved your trades. Keep working towards that direction.
Time Is Money
  • #1,063
  • Apr 10, 2019 7:14am Apr 10, 2019 7:14am
Quoting abajiga
{quote} Fibs are also exaggerated or overrated. The truth is, instead using fibs to see where market is holding, mark the prices with simple lines and see if it does hold over a cycle in sessions. Only, only this way you will start seeing the real fib that works. And it's not that fib you draw, it's simple lines. Not too many just two or three
Yeah thats what I do, mark lines first then out of interest sometimes I see how close the FIBS are. Its surprising how close the FIBS are to marked lines.
Only indicator I have on is the vertical lines for periods and different sessions times. Agree dont need indicators, wish I learned PA earlier instead of learning multiple indicators.
  • #1,064
  • Apr 10, 2019 7:15am Apr 10, 2019 7:15am
Quoting abajiga
{quote} In other words, you the trader need to see things coming or forming, not fibs. You need to dissect that chart like the doctors dissecting humans. You need to see things coming up or the next move where it is heading to. You need to make the decisions and be responsible for protecting and looking after your account. It's perfect now you using the demo, but you need to go over your results and constantly see where you could have improved your trades. Keep working towards that direction.
Making sure I hit the correct buy or sell button would be a start....done it twice yesterday cost around £400
Started keeping a journal this week, also I may limit the number of pairs I monitor, hopefully this will make my focus more on price action instead of flicking thru loads of charts to see if price is near the marked limits. Or just narrow the charts on screen to the best of maybe 4 selected from the night before. Then disect them of evening where they go wrong.
  • #1,065
  • Edited 8:23am Apr 10, 2019 7:28am | Edited 8:23am
Eyes on EURCAD mate, just notched bit higher
EDIT - Smoothly played, assume in profit now on that drop
  • #1,066
  • Apr 10, 2019 8:26am Apr 10, 2019 8:26am
Quoting oblong
Eyes on EURCAD mate, just notched bit higher
Yea..I didn't badge on that panic mode (for the others)
I was confident of my approach and I knew this market will reverse hard. I put more lots, higher lots from above and by the time it dropped till my overall position was in good profit, I closed all. This is how I played it from yesterday.
The top entries are of double lots.
Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD.SBM5.png Size: 34 KB
Time Is Money
  • #1,067
  • Apr 10, 2019 8:30am Apr 10, 2019 8:30am
Quoting abajiga
{quote} Yea..I didn't badge on that panic mode (for the others) I was confident of my approach and I knew this market will reverse hard. I put more lots, higher lots from above and by the time it dropped till my overall position was in good profit, I closed all. This is how I played it from yesterday. The top entries are of double lots. {image}
nice, goes to show always best keep some bullets in the chamber (available margin). used to be my common mistake
  • #1,068
  • Apr 10, 2019 8:36am Apr 10, 2019 8:36am
Quoting oblong
{quote} nice, goes to show always best keep some bullets in the chamber (available margin). used to be my common mistake
yea...you need to plan your game for plan B in advance. When the trade doesn't go to plan A, then get ready for plan B which will be your final shot and you need to execute it well. This is supposed to be everyday trading way/approach. Only in this manner you will come out a profitable in the long run.
Time Is Money
  • #1,069
  • Apr 10, 2019 8:49am Apr 10, 2019 8:49am
Quoting abajiga
{quote} yea...you need to plan your game for plan B in advance. When the trade doesn't go to plan A, then get ready for plan B which will be your final shot and you need to execute it well. This is supposed to be everyday trading way/approach. Only in this manner you will come out a profitable in the long run.
Ive been using 1/2 of margin on the first entry trade, which is bad, think Ill do 1/3 going forward see how that goes.
Seen people suggest 1/5th but does reduce profits, its getting that right balance.
What do you use on intial entry?
  • #1,070
  • Apr 10, 2019 8:51am Apr 10, 2019 8:51am
Quoting oblong
{quote} Ive been using 1/2 of margin on the first entry trade, which is bad, think Ill do 1/3 going forward see how that goes. Seen people suggest 1/5th but does reduce profits, its getting that right balance. What do you use on intial entry?
3-5% of account size
Time Is Money
  • #1,071
  • Apr 10, 2019 8:57am Apr 10, 2019 8:57am
Quoting abajiga
{quote} 3-5% of account size
Thats what you would risk?

For example say got £10k account and trade on GBPNZD £1 will use approx £1k of my £10k margin to trade with.
Are you saying you would do £3 to £5 per point on spreadbet?
Attached Image
  • #1,072
  • Apr 10, 2019 9:31am Apr 10, 2019 9:31am
Quoting oblong
{quote} Thats what you would risk? For example say got £10k account and trade on GBPNZD £1 will use approx £1k of my £10k margin to trade with. Are you saying you would do £3 to £5 per point on spreadbet? {image}
You will do the £1 per pip but then you can only risk around 30-50 pips SL
Time Is Money
  • #1,073
  • Apr 10, 2019 9:32am Apr 10, 2019 9:32am
Quoting abajiga
{quote} You will do the £1 per pip but then you can only risk around 30-50 pips SL
If I was the one, I would do 50p per pip and enter in different positions. The better entry I find, I will add. For plan B I will have to go £2 per pip
This way it suits my trading style and I can build my account consistently.
Time Is Money
  • #1,074
  • Apr 10, 2019 9:41am Apr 10, 2019 9:41am
Quoting abajiga
{quote} If I was the one, I would do 50p per pip and enter in different positions. The better entry I find, I will add. For plan B I will have to go £2 per pip This way it suits my trading style and I can build my account consistently.
Really lower than quid, ive been doing £10 a point, doubling up where needed.........ill chuck another £90k into the account
Must be safer to do more than that, if SL is 50 points thats only £50 loss.
  • #1,075
  • Apr 10, 2019 9:51am Apr 10, 2019 9:51am
Here is for tonight ...I will enter this one around Asian open
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.SBM5.png Size: 48 KB
Time Is Money
  • #1,076
  • Apr 10, 2019 10:14am Apr 10, 2019 10:14am
Are you expecting a similiar to play to yesterday(green box), because of how London session played out?
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.JPG Size: 214 KB
  • #1,077
  • Apr 10, 2019 10:31am Apr 10, 2019 10:31am
Quoting oblong
Are you expecting a similiar to play to yesterday(green box), because of how London session played out? {image}
Look again and tell me, we done this before....
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.SBM15.png Size: 60 KB
Time Is Money
  • #1,078
  • Apr 10, 2019 10:44am Apr 10, 2019 10:44am
Quoting abajiga
{quote} Look again and tell me, we done this before.... {image}
Trying to remember so much, I can only see based on levels drawn and that opening markets are where the volatility is.

Its a buy because of the higher highs in past 3 periods, I think the buy will be around the purple line what ever session In which case you could short it down to the purple line as another trade?

Frustratingly I still dont know / understand in advance that it will be ASIA open and not London Open to buy this.

Think Ive asked this, but is there any videos or reading material on the timings, was trawling thru FF last night can only find price action and supply and demand information.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.JPG Size: 218 KB
  • #1,079
  • Apr 10, 2019 10:46am Apr 10, 2019 10:46am
Quoting abajiga
{quote} Look again and tell me, we done this before.... {image}
Leave that one out, I saw another arrangement that it already took profit for the similar move we intended today. That's why still rising.
The arrangements are as shown in the graph. Stars are the up move, tick is the day of the highest price that signals for entry. The price shown on the right box is the best entry.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.SBM15.png Size: 61 KB
Time Is Money
  • #1,080
  • Apr 10, 2019 10:53am Apr 10, 2019 10:53am
Quoting oblong
{quote} Trying to remember so much, I can only see based on levels drawn and that opening markets are where the volatility is. Its a buy because of the higher highs in past 3 periods, I think the buy will be around the purple line what ever session In which case you could short it down to the purple line as another trade? Frustratingly I still dont know / understand in advance that it will be ASIA open and not London Open to buy this. Think Ive asked this, but is there any videos or reading material on the timings, was trawling thru FF last night...
Will it also be a second touch of the purple line and bounce will be confirmation to go long (as the first bounce already happened in london and US session)
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