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"One Grows Tall After Walking Through A Forest Of Tall Trees."
EMA 25-50 Trading System (Detailed)
- #963
- Oct 24, 2007 1:02pm Oct 24, 2007 1:02pm
- | Commercial User | Joined Nov 2006 | 1,013 Posts
"One Grows Tall After Walking Through A Forest Of Tall Trees."
To be honest, it was a heady combination of yellow-streak chicken and lack of experience... thanks for the reality check.
It's just the leaving of a trade unattended overnight that brings out the coward in me.
Ahh i see.
In that case it was the right decision!
Either A you babysit or B you trail.
Always need to determine this prior to the trade.
PS: 50 pips is 50 pips, in 20 days thats 1000
Perry
i missed your post last night by about an hour!!! as for gpb/jpy, i am not comfortable with that pair yet, even though you have been spot on with your picks. can you also post the eur/jpy calls as well?? thanks
But I'd say that's a good decision, sticking to pairs you're more comfortable with. I dropped the GBP/JPY for a while myself after it scorched me several times. But I'm back to give it another go. Effi's methods seem to be pretty effective with it. (One, two, three - "Ya think?") But I've become a big believer in the idea of keeping it simple and as stress-free as possible. Trading can be stressful enough without making it more-so.
Great call by effi again last night. Or for me it was last night, at least. I also managed to catch a couple of winners using the 4-hour/5-minute method that effi outlined on the first page here. Had a couple of small losers before hand, when the pairs were just wandering in a tight range, but the two winners more than made up for it. Also got 50 pips on the EUR/JPY on the 4-hour chart with the 25/50. I think they're good methods separate or together, even apart from the calls that effi is making. Especially if they work even for me.
Perry
- #969
- Oct 24, 2007 9:58pm Oct 24, 2007 9:58pm
- | Commercial User | Joined Nov 2006 | 1,013 Posts
"One Grows Tall After Walking Through A Forest Of Tall Trees."
Al,
If I might barge in just for a moment, based on what Effi has posted, it looks like he is watching the way the GBP/JPY is making lower highs (the LH's on the chart), and lower lows (LL's). It also looks like he was targeting a break above and back below the gap-open from Sunday. Could very well have been more to it than that, but it appears that the repeated 'waves' down is largely why he's staying in the current trade. It keeps making lower lows, and when it retraces, it rolls back over before reaching the previous high. That's a sign of price weakness, and suggests price could keep falling.
I was able to catch a fairly nice move on this pair yesterday on the 5-minute chart, for a similar reason. The 4-hour chart was in overbought on the stochastics, and the 5-minute chart kept making lower highs and lower lows. Also, the 'peaks and valleys' on the stochastics were pretty level, but price was going down at the same time. That's another sign of weakness, as I've read. You can go back and see this on a chart.
In fact, if you look at the 4-hour chart right now, as I'm writing this, you can see it as well. If you look at the peak on the stochastic on 10/19 from about 20:00 to the next peak on 10/23 at about 16:00 - 20:00, you can see it's slanting up. Yet the slant from peak to peak on the price, during that same period, is down.
I't doesn't guarantee that price will go lower, but from what I've read it can often be a good clue.
Well, didn't mean to hijack the thread. But, it looks like that Effi has got his 'wave runner' out on the GBP/JPY.
Perry
If I might barge in just for a moment, based on what Effi has posted, it looks like he is watching the way the GBP/JPY is making lower highs (the LH's on the chart), and lower lows (LL's). It also looks like he was targeting a break above and back below the gap-open from Sunday. Could very well have been more to it than that, but it appears that the repeated 'waves' down is largely why he's staying in the current trade. It keeps making lower lows, and when it retraces, it rolls back over before reaching the previous high. That's a sign of price weakness, and suggests price could keep falling.
I was able to catch a fairly nice move on this pair yesterday on the 5-minute chart, for a similar reason. The 4-hour chart was in overbought on the stochastics, and the 5-minute chart kept making lower highs and lower lows. Also, the 'peaks and valleys' on the stochastics were pretty level, but price was going down at the same time. That's another sign of weakness, as I've read. You can go back and see this on a chart.
In fact, if you look at the 4-hour chart right now, as I'm writing this, you can see it as well. If you look at the peak on the stochastic on 10/19 from about 20:00 to the next peak on 10/23 at about 16:00 - 20:00, you can see it's slanting up. Yet the slant from peak to peak on the price, during that same period, is down.
I't doesn't guarantee that price will go lower, but from what I've read it can often be a good clue.
Well, didn't mean to hijack the thread. But, it looks like that Effi has got his 'wave runner' out on the GBP/JPY.
Perry
- #973
- Oct 25, 2007 6:02am Oct 25, 2007 6:02am
- | Commercial User | Joined Nov 2006 | 1,013 Posts
"One Grows Tall After Walking Through A Forest Of Tall Trees."
- #975
- Oct 25, 2007 6:22am Oct 25, 2007 6:22am
- | Commercial User | Joined Nov 2006 | 1,013 Posts
"One Grows Tall After Walking Through A Forest Of Tall Trees."
- #978
- Oct 25, 2007 6:56am Oct 25, 2007 6:56am
- | Commercial User | Joined Nov 2006 | 1,013 Posts
"One Grows Tall After Walking Through A Forest Of Tall Trees."
- #980
- Oct 25, 2007 7:13am Oct 25, 2007 7:13am
- | Commercial User | Joined Nov 2006 | 1,013 Posts
"One Grows Tall After Walking Through A Forest Of Tall Trees."