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Real Trading

  • #5,041
  • Dec 9, 2021 9:10am Dec 9, 2021 9:10am
Quoting genadi
{quote} where is the final place to take profit on this buy setup?


FIVE POST above you shall find the answer you're looking for.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #5,042
  • Dec 9, 2021 9:14am Dec 9, 2021 9:14am
Quoting Pat Chiko
{quote} AU My target is around there. {image}
wow, somehow i have missed this chart.

thanks

  • #5,043
  • Dec 9, 2021 11:27am Dec 9, 2021 11:27am
GENERAL QUESTION to traders.



The question is ,"How do you evaluate the USD strength in the market?"

Is it from a fundamental point of view, (I'm not talking about economic releases)

Do we use intermarket relationships?

How do u know it's safe to enter a trade in an up or a down trend?


Look forward for some answer.

Thanks

PAT
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #5,044
  • Dec 9, 2021 11:47am Dec 9, 2021 11:47am
Quoting Pat Chiko
{quote} GU Trade Progress. Took some out Add some in. With this execercise you will have stress free trade and not pressured to look at screen as you lock few profit earlier and let the rest run. Nett position is always in positive. Now time to move the stop {image}

GU

After the fake out this morning, price came back to BUOB area to continue higher.

Trapping seller coming in before London Closed.

Closed some position

Attached Image (click to enlarge)
Click to Enlarge Name: gu 129.jpg Size: 216 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #5,045
  • Dec 9, 2021 11:49am Dec 9, 2021 11:49am
Quoting Waveskierrob
Hi all, new to this thread some know me here some don't, my trading style is to take a price and trade it with multiple small lots to get an average price and then close when in profit, I can let negative trades run for days/weeks/months while adding to positions to have more chance of hitting the average price going into profit then closing. I also trade in both directions again averaging the price whilst keeping my downdraw down, for me to do this I use a big bank using small lots to help with my psychology, don't use charts, indicators or patterns,...
Closed LONG @ 1.3215 +5 pips ......now going SHORT 1.3215 no tp no sl
  • #5,046
  • Dec 9, 2021 11:51am Dec 9, 2021 11:51am
Quoting Pat Chiko
{quote} GU After the fake out this morning, price came back to BUOB area to continue higher. Trapping seller coming in before London Closed. Closed some position {image}
GU

Closed some.

Let balance run for TP

Moving stop closer to price

Attached Image (click to enlarge)
Click to Enlarge Name: gu 130.jpg Size: 180 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #5,047
  • Dec 9, 2021 11:55am Dec 9, 2021 11:55am
Quoting Pat Chiko
{quote} AU Taking out partial profit Moving Stop. May add on pull back {image}

AU

Continue goig up

moving SL tighter.

Attached Image (click to enlarge)
Click to Enlarge Name: au 013.jpg Size: 117 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #5,048
  • Dec 9, 2021 11:59am Dec 9, 2021 11:59am
Quoting Pat Chiko
GENERAL QUESTION to traders. The question is ,"How do you evaluate the USD strength in the market?" Is it from a fundamental point of view, (I'm not talking about economic releases) Do we use intermarket relationships? How do u know it's safe to enter a trade in an up or a down trend? Look forward for some answer. Thanks PAT
Interesting question. I am old in life, but new in trading so be patient with me.

In the charting tool I use I can create my own indexes. So, I have an index to compare USD to other currencies I am interested in. Thus, I get an idea of how USD is moving in relation to those specific currencies.

I don't know that it is perfect measure of USD strength in the overall market and look forward to other people's inputs.


Thanks
Tall tails tell tales.
  • #5,049
  • Dec 9, 2021 12:05pm Dec 9, 2021 12:05pm
Quoting pipsofacto
{quote} Interesting question. I am old in life, but new in trading so be patient with me. In the charting tool I use I can create my own indexes. So, I have an index to compare USD to other currencies I am interested in. Thus, I get an idea of how USD is moving in relation to those specific currencies. I don't know that it is perfect measure of USD strength in the overall market and look forward to other people's inputs. Thanks
how old? 121 years old?
  • #5,050
  • Dec 9, 2021 12:08pm Dec 9, 2021 12:08pm
Quoting genadi
{quote} how old? 121 years old?
Old enough to know better, but still young enough to not care...
Tall tails tell tales.
  • #5,051
  • Dec 9, 2021 12:12pm Dec 9, 2021 12:12pm
Quoting pipsofacto
{quote} Interesting question. I am old in life, but new in trading so be patient with me.
In the charting tool I use I can create my own indexes.
So, I have an index to compare USD to other currencies I am interested in.
Thus, I get an idea of how USD is moving in relation to those specific currencies.
I don't know that it is perfect measure of USD strength in the overall market and look forward to other people's inputs.
Thanks


Thank you Pip So Facto.
You're right on applying those methodology of finding USD strength.

You'll get some ideas on how to take any trades against USD by applying those.

The other way that I use is to look at Gold and T-bonds to know the likely direction of the USD.

I do too from time to time look at intermarket relationships, looking for stories that it wants to tell me , in its behavior"form" and patterns.
This including the sigma and volatility sequences.
At time trades by market flow and volatility.

Good for staying tuned to breaking news and happenings in the market place .

Those are basically what I do before even looking at Technical Chart.

At least at the back of my head, I have general ideas, WHERE price want to go today.

Look forward for your participation in this thread, not just trade signal, but general trade discussion, as we need senior to hold our hand to the right path.

Thank Again.

Best Wishes

PAT
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #5,052
  • Dec 9, 2021 12:13pm Dec 9, 2021 12:13pm
Quoting genadi
{quote} how old? 121 years old?

Hope you can contribute to my question.

Please share us your ideas.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #5,053
  • Dec 9, 2021 12:27pm Dec 9, 2021 12:27pm
Quoting donfriday
{quote}
are you here for strategy or to make money? who cared about strategy
I DO.


Quoting donfriday
{quote} OH MY GOD you should write a book to sell. wow that too long

Quoting donfriday
{quote} you should write a book...u will sell


Hi Don Friday.

Wanted to reply earlier to your multiple request, but unable to find time to reply properly to you.

Normally good traders do not write books.

I don't need to and probably don't want to.
Moreover time and rest is of essence.
Of course there may have some with good ideas, but if it doesn't filter to bottom line, its just good ideas.
Nice to have but difficult to live with.

There are some "secret" mentoring manuals around.
These are normally research manuals and mostly non performances documented ideas.

It is close to impossible to acquire trading skills from just reading.
This can help in foundational ideas, concepts and basic tenets.

Trading is a skill that have to be learned thru the mentorship of hard knocks school.

I know no successful trader who aquired their skills from reading, mostly from thinking and experience.
Trading is a life style, gotta match the personalities to the skills.

Successful traders all have differing styles, they all work.

No one is better than the other, bottom line rules.
We are as good as our last trade.


Best Wishes

PAT
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #5,054
  • Dec 9, 2021 12:29pm Dec 9, 2021 12:29pm
Quoting pipsofacto
{quote} Old enough to know better, but still young enough to not care...
  • #5,055
  • Dec 9, 2021 12:31pm Dec 9, 2021 12:31pm
Quoting Pat Chiko
{quote} Hope you can contribute to my question. Please share us your ideas.
i rarely look at DXY chart.
but i use COT reports. i think COT is a good way to know direction.

  • #5,056
  • Dec 9, 2021 12:34pm Dec 9, 2021 12:34pm
Quoting genadi
{quote} i rarely look at DXY chart. but i use COT reports. i think COT is a good way to know direction.
What is COT reports?
Tall tails tell tales.
  • #5,057
  • Dec 9, 2021 12:38pm Dec 9, 2021 12:38pm
Quoting pipsofacto
{quote} What is COT reports?
commitment of traders.

you can get them from Chicago market.
  • #5,058
  • Dec 9, 2021 12:40pm Dec 9, 2021 12:40pm
Quoting genadi
{quote} i rarely look at DXY chart. but i use COT reports. i think COT is a good way to know direction.

Please enlighten us on how you go about looking at that COT or XYD to find USD strength?.

Thank You
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #5,059
  • Dec 9, 2021 12:46pm Dec 9, 2021 12:46pm
Quoting Pat Chiko
{quote} Please enlighten us on how you go about looking at that COT or XYD to find USD strength?. Thank You
but what do you mean USD strength?

USD strength is mostly inversely correlated to EUR/USD chart.

DXY chart is USD versus all other major pairs. so you look at DXY chart as you look at GU chart, and you analyze them the same way, and you see if USD is strong or weak.

  • #5,060
  • Dec 9, 2021 12:46pm Dec 9, 2021 12:46pm
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