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iandekoker's 5 profit target trades

  • #281
  • Nov 6, 2007 10:39am Nov 6, 2007 10:39am
Quoting Oromis
Hi Ian,

These golfing sessions in the week needs to stop , first work then play.

Alright, I just had a good trade on GBP/JPY again and recovered my losses from this morning (and yes, no more Asian session trading). Now to see if the market will give us todays quota.
Lol...i had a good round of golf and while i was away i see the markets tested the highs again but didnt manage to go up much further. So this confirms my suspicion that we are nearing a correction.
  • #282
  • Nov 6, 2007 10:41am Nov 6, 2007 10:41am
Quoting pipshark
good morning from munich,
my first +5 for today

pipshark
Oh what a beautiful city. I was there about 5 years ago.Damn but it gets cold there in the winter. I nearly died of the cold
  • #283
  • Nov 6, 2007 10:42am Nov 6, 2007 10:42am
Quoting pipshark
oh sorry iandekoker,
i forgot that this is your trading journal.
soon i will open my own journal to post my trades !
no problem. i enjoy reading about your winning trades.
  • #284
  • Nov 6, 2007 10:43am Nov 6, 2007 10:43am
Quoting Oromis
Ian, was just going over this again and noticed the above. I know everybody here knew exactly what you were saying, just thought I'd mention it.
yes you are correct. Lemme go edit it quickly
  • #285
  • Nov 6, 2007 10:45am Nov 6, 2007 10:45am
Quoting iandekoker
Inside bar cannot make a higher high or lower low than the candlestick just to its left.

How to trade this candlestick formation:

this is a either or trade. either ur gonna go long. or ur gonna go short. It all depends which gets broken first. the high or the low.

Enter short as soon as the low of the inside bar get broken to the down side by the next candlestick.

Enter long as soon as high of the inside bar gets broken to upside by the next candlestick

Inside bar is undecisive candlestick so that means the price can either go up or down.
ok i think it is edited now
  • #286
  • Nov 6, 2007 7:56pm Nov 6, 2007 7:56pm
Good morning all,

Just looking at E/J 15M and see that price is consolidating between 1.4550 and 1.4566. Will it go up or will it fall?

I remember two or three weeks ago everybody was predicting, expecting and waiting for GBP/JPY to fall and fall a lot, only problem is, the market don't care about our predictions or expectations - the price went higher and a lot of people lost their hard earned dough.

So whether price moves up or down, or is expected by the masses to rise or fall, I don't care and could be bothered less...whichever way it moves I will be joining the trend once the direction is confirmed.

Good luck for today.
  • #287
  • Nov 6, 2007 8:40pm Nov 6, 2007 8:40pm
Wow did you guys see that baby go, I'm gonna try to grab some on the retracement of that freak move...let's see what happens.
  • #288
  • Nov 7, 2007 12:13am Nov 7, 2007 12:13am
Quoting Oromis
Good morning all,

Just looking at E/J 15M and see that price is consolidating between 1.4550 and 1.4566. Will it go up or will it fall?

I remember two or three weeks ago everybody was predicting, expecting and waiting for GBP/JPY to fall and fall a lot, only problem is, the market don't care about our predictions or expectations - the price went higher and a lot of people lost their hard earned dough.

So whether price moves up or down, or is expected by the masses to rise or fall, I don't care and could be bothered less...whichever way it moves I will be joining the trend once the direction is confirmed.

Good luck for today.
yes the markets dont care about our indicators

Looks like eur/usd is heading straight to 1.4700 level today. And with some momentum it might even make its way all the way up to 1.5000. Same for gbp/usd that is currenctly aiming for 2.1000 and then 2.1200
  • #289
  • Nov 7, 2007 10:42am Nov 7, 2007 10:42am
what a crazy day

eur/usd and gbp/usd went thru the roof and still has momemtum to go further Where will it all end? l dont know but am keen to find out....lol
  • #290
  • Nov 7, 2007 10:44am Nov 7, 2007 10:44am
by the way you would have notices i dont post charts of my 5 pips trades anymore because i am sure everyone knows by this time how and when i enter my trades. I still do about 3-10 trades a day. Each collecting 5 pips.
  • #291
  • Nov 7, 2007 7:58pm Nov 7, 2007 7:58pm
Greetings, is anyone trading this strategy from say the close of US stock market to the 1st couple hours of the asian session? Just curious, this is the only time I have to actively trade.
Thanks
  • #292
  • Nov 7, 2007 8:33pm Nov 7, 2007 8:33pm
Quoting mrxit
Greetings, is anyone trading this strategy from say the close of US stock market to the 1st couple hours of the asian session? Just curious, this is the only time I have to actively trade.
Thanks
Mate, the Asian session is not my preference, even though it would suite my schedule better, but you'll notice a few posts back that it has a tendency to make a fool of me , so I prefer not to trade the Asian session. That is just for me though, it may work for you, but I believe there are a enough opportunities during UK/US session.

As Ian mentioned, the objective is to take A grade trades and to capitalize on that.

Happy trading
  • #293
  • Nov 8, 2007 1:31am Nov 8, 2007 1:31am
Quoting Oromis
Mate, the Asian session is not my preference, even though it would suite my schedule better, but you'll notice a few posts back that it has a tendency to make a fool of me , so I prefer not to trade the Asian session. That is just for me though, it may work for you, but I believe there are a enough opportunities during UK/US session.

As Ian mentioned, the objective is to take A grade trades and to capitalize on that.

Happy trading
Yes i agree. The asian session lack volume therefor the signals given at that time might be false. The whole idea behind this system is to trade in a trending market.
  • #294
  • Nov 8, 2007 1:35am Nov 8, 2007 1:35am
Today is the big ECB (european central bank) announcement. It will move the markets in a very volatile way. Here are a few possible scenarios:

1. ECB hikes interest rates and eur/usd go all the way to 1.500. However most analysts suggest rates will stay the same.

2. ECB keeps rates unchanged. Then usd might make a little come back for a few minutes but the uptrend will still continue.

3. ECB lower the interest rates. That is highly unlikely since lower interest rates will make only add to inflation worries.
  • #295
  • Nov 8, 2007 1:45am Nov 8, 2007 1:45am
The gbp/usd seems to be consolidating just before making an attempt at the all time highs probably later on today.

so i would change my strategie a little bit and wait for a candlestick to open and close above the upper trend line. That will confirm the uptrend has started again. There was an earlier spike up thru the trendline to test the momentum.

if you try and enter now you will be chopped around like a piece of meat on a butcher's table....lol
Attached Image (click to enlarge)
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  • #296
  • Nov 8, 2007 1:47am Nov 8, 2007 1:47am
eur/usd is ready to make a move up. a candlestick has opened above the upper trendline. Now i just wait for it to close above the trendline and then i am in
Attached Image (click to enlarge)
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  • #297
  • Nov 8, 2007 4:10am Nov 8, 2007 4:10am
Quoting iandekoker
The gbp/usd seems to be consolidating just before making an attempt at the all time highs probably later on today.

so i would change my strategie a little bit and wait for a candlestick to open and close above the upper trend line. That will confirm the uptrend has started again. There was an earlier spike up thru the trendline to test the momentum.

if you try and enter now you will be chopped around like a piece of meat on a butcher's table....lol
Have to agree with you Ian. If I were to consider B/U for a long I would probably wait for an open above 2.1050 before considering. We'll keep an eye on it.
  • #298
  • Nov 8, 2007 5:03am Nov 8, 2007 5:03am
Quoting iandekoker
The gbp/usd seems to be consolidating just before making an attempt at the all time highs probably later on today.

so i would change my strategie a little bit and wait for a candlestick to open and close above the upper trend line. That will confirm the uptrend has started again. There was an earlier spike up thru the trendline to test the momentum.

if you try and enter now you will be chopped around like a piece of meat on a butcher's table....lol
Gbp/usd managed to break thru the upper trend line. So we are set for the ECB announcement.
  • #299
  • Nov 8, 2007 5:03am Nov 8, 2007 5:03am
Quoting iandekoker
eur/usd is ready to make a move up. a candlestick has opened above the upper trendline. Now i just wait for it to close above the trendline and then i am in

eur/usd also broke thru the upper trend line nicely. And 1.5000 is on the cards
  • #300
  • Nov 8, 2007 7:01am Nov 8, 2007 7:01am
Thanks for the responses. I assumed the asian session was probably a higher risk trade with this system. The more I watch the charts with this strategy in mind, the more I like it. I have a few questions if you don't mind?

1. What's the rationale for the 20 pip SL? If this is basically a scalp based on a short trend/spike in price movement, doesn't a 20 pip reversal pretty much indicate it's demise.
2. How many signals/setups for trades do you usually get on the EUR/USD on average on a lite news day , and how long typically are you in a trade?
3. Do you typically as a rule wait for the second candle on a 5 min. chart before entering?

Thanks,



Quoting iandekoker
Yes i agree. The asian session lack volume therefor the signals given at that time might be false. The whole idea behind this system is to trade in a trending market.
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