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The System (Irony included)

  • #401
  • Nov 14, 2007 7:52pm Nov 14, 2007 7:52pm
Reading through this thread I see the mention of the V formation (123, ABC and variations thereof) as entry criteria for trend friendly trades. I know you guys pride yourselves on trading "naked charts" but thought that I would pass along a very simple swing trader's trick that has been around since day one in the pit and is pretty close to giving you a naked chart. It seems to match up quite nicely with the above mentioned formations. It consists of a 10EMA of the highs and an 8EMA of the lows. Heads up when price is between the EMA's. Trade could possibly be taken on a close of the bar above(below) the 10EMA. Who said trading has to be difficult? LOL.
Attached Image
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #402
  • Nov 14, 2007 8:35pm Nov 14, 2007 8:35pm
fxhermit -

Thank you so much for your concern for our welfare and for sharing your system http://leighswishingwell.com/lp/emotes/hug.gif

I've hopped around from thread to thread here for 8 months trying the various strategies/methods, and I was actually using an EMA channel type method just before converting to this thread's/feb's method, lol.

But I think for me, I like this thread/method the best.

And it's not "priding" myself with being able to trade with a naked chart, it's just ... well, I have been enjoying and benefitting from this thread so much, that this is where I choose to make my home.

I've taken off the EMA channel bikini so that I can get a really good all around tan, and I'm loving it and soaking up the sun and Vitamin C. This is why I choose to stay naked and in this thread, lol.

Again, your concerns for our welfare and offer to help are truly appreciated, but I hope you can understand and respect that if those of us in this thread wanted an EMA system, we'd be in that thread right now

I know with not being able to hear tone-of-voice, words can be taken as not how intended. Please know that I am saying this with the most caring and respectful intentions at heart http://leighswishingwell.com/lp/emotes/hug.gif

I'm glad that the EMA channel method is working for you! Much success to you and your trading!

P.S. Please everyone coming into this thread ... the Faciliator ( feb2865 ) has requested that we stick to the topic of PA using naked charts as much as possible. We humbly request that you please respect his wishes. Thank you sooo much! http://leighswishingwell.com/lp/emotes/hug.gif
  • #403
  • Nov 14, 2007 8:53pm Nov 14, 2007 8:53pm
Quoting leighsww
fxhermit -

Thank you so much for your concern for our welfare and for sharing your system http://leighswishingwell.com/lp/emotes/hug.gif

I've hopped around from thread to thread here for 8 months trying the various strategies/methods, and I was actually using an EMA channel type method just before converting to this thread's/feb's method, lol.

But I think for me, I like this thread/method the best.

And it's not "priding" myself with being able to trade with a naked chart, it's just ... well, I have been enjoying and benefitting from this thread so much, that this is where I choose to make my home.

I've taken off the EMA channel bikini so that I can get a really good all around tan, and I'm loving it and soaking up the sun and Vitamin C. This is why I choose to stay naked and in this thread, lol.

Again, your concerns for our welfare and offer to help are truly appreciated, but I hope you can understand and respect that if those of us in this thread wanted an EMA system, we'd be in that thread right now

I know with not being able to hear tone-of-voice, words can be taken as not how intended. Please know that I am saying this with the most caring and respectful intentions at heart http://leighswishingwell.com/lp/emotes/hug.gif

I'm glad that the EMA channel method is working for you! Much success to you and your trading!

P.S. Please everyone coming into this thread ... the Faciliator ( feb2865 ) has requested that we stick to the topic of PA using naked charts as much as possible. We humbly request that you please respect his wishes. Thank you sooo much! http://leighswishingwell.com/lp/emotes/hug.gif
O.K. no problem and no offence taken - just making an observation. Glad you have something that works for you.
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #404
  • Nov 14, 2007 9:01pm Nov 14, 2007 9:01pm
Quoting fxhermit
Glad you have something that works for you.
Well I didn't quite say that it's working for me yet :, lol, cuz I'm just starting out with this method and have yet to catch a dang bus, lol ... but I have faith in the logic, rationality, simplicity and overall feel to it, and if I am diligent with sticking to the rules and following the method with discipline, I'm pretty confident that I will have some degree of success with it

Thank you for your understanding. It's very much appreciated

Please stay with us and whatever other input you may have pertaining to this topic, we welcome wholeheartedly!
  • #405
  • Nov 14, 2007 9:13pm Nov 14, 2007 9:13pm
What happened to the E/U tonight? It has a huge gap!!!
I am in it long since last night, taking a bounce from a support that was formed during the past two days, that last week used to be a resistance line. So I am not complaining, but.....what happened?????
  • #406
  • Nov 14, 2007 9:15pm Nov 14, 2007 9:15pm
Guys

I believe the long wick today (daily charts) has been nothing more than a distraction. A move factored from the stock market. I am talking E/U here.

DJIA (Dow jones Industrial) had a down candle(today) but if you look closely is not a big deal. I am still looking at 1300 area. If we fall bellow that, it's going to drag almost everyone into a deep correction. I still see a double bottom.

This short candle makes me think that the market had all intentions to go up but it went into a frenzy selling probably fueled by the monkeys in the suit. Kinda similar to E/U but position were different.

My advice is to be on the lookout for the dow. I don't want for you guys to trade jumpy Relax. Take your time. We're not scalping here ok??

Just giving you what I look in order to stack odds in my favor, whenever I decide to pull the trigger

Peace.
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Peace
  • #407
  • Nov 14, 2007 9:16pm Nov 14, 2007 9:16pm
Quoting alcastro
What happened to the E/U tonight? It has a huge gap!!!
I am in it long since last night, taking a bounce from a support that was formed during the past two days, that last week used to be a resistance line. So I am not complaining, but.....what happened?????

alcastro, I don't see a gap, you see a gap? Show us your chart.

Here's what I'm showing at the moment:
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  • #408
  • Nov 14, 2007 9:21pm Nov 14, 2007 9:21pm
Here is a summary of where i am right now with the pairs i am trading:

US/JP: I went long yesterday after a bullish engulfing bar was formed when price bounced from an old support line two days ago. I entered as soon as price went over this bar. I am positive but everything can change tonight. A FEB fractal entry has not been confirmed yet since the third candle has not gone past the high of the previous candle. But as i said i went long with the engulfing candle.

EU/US: As I said i went long last night. A bounce from support. NOt very FEB, but.....

GB/US: I went long last night after the bounce from support, but nothing else tolde me that it was right to do so...no candle formation, no FEB rules....and I paid the price. Got stopped!!!!!

AU/US: Went long for the same stupid reason as I went long with the cable, and paid for it also because my trailing stop got hit. Even thouigh the trade is still valid. But I am sitting on my hands until i see a FEB confirmation.

So still naked. Making some stupid decisions, and the good ones may be flukes. Ahhhhhhh......why am i so insecure?????
  • #409
  • Nov 14, 2007 9:25pm Nov 14, 2007 9:25pm
Leigh,

here is the chart with the gap.The previous bar closed at 1.4602 and the next one opened at 1.4645.
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  • #410
  • Nov 14, 2007 9:26pm Nov 14, 2007 9:26pm
Actually I made a mistake in my last post. I apologize for any inconvenience.

The only crossover I could see is the selling pressure, but anyway that reinforces my theory about the significance( a no big deal) of the down move on e/u today.

Just remember that I am not a fortune teller, Theses are my own biased "old dog" observations.

Here is the chart


Peace
Attached Image (click to enlarge)
Click to Enlarge Name: EUR.jpg Size: 121 KB
Peace
  • #411
  • Nov 14, 2007 9:27pm Nov 14, 2007 9:27pm
Quoting alcastro
So still naked. Making some stupid decisions, and the good ones may be flukes. Ahhhhhhh......why am i so insecure?????
LOL, you rebel you!! Get your butt back to the rules!! http://leighswishingwell.com/lp/emotes/whip.gif

Read my post regarding BlackJack, alcastro, lol! :
  • #412
  • Nov 14, 2007 9:29pm Nov 14, 2007 9:29pm
Quoting alcastro
here is the chart with the gap.The previous bar closed at 1.4602 and the next one opened at 1.4645.
WoW, as you can see, I don't show that at all on my charts.
  • #413
  • Nov 14, 2007 9:31pm Nov 14, 2007 9:31pm
sounds like a data glitch to me!!!!
Peace
  • #414
  • Nov 14, 2007 9:36pm Nov 14, 2007 9:36pm
Oh hey, you guys, isn't a gap to the upside mean a strong upward movement?

Okay, I'm just learning still this PA stuff, but I can swear that that's a good sign of a strong upward movement.

I think I read it in the book my hubby bought me, "Technical Analysis for Dummies", lol, okay no making fun (it's by Barbara Rockefeller)! :

Hang on, let me go find that stuff about a gap, lol.

LOL, but since I don't have one on my charts, does that mean I won't qualify? (okay, anybody thinking that I'm serious about that sentence, please note now, that I have a really inane sense of humor, so I did NOT really mean that seriously!!
  • #415
  • Nov 14, 2007 9:37pm Nov 14, 2007 9:37pm
Quoting feb2865
sounds like a data glitch to me!!!!
Ah, so you don't have that on your chart either then, feb?
  • #416
  • Nov 14, 2007 9:40pm Nov 14, 2007 9:40pm
Quoting leighsww
Ah, so you don't have that on your chart either then, feb?
I don't , It all depends on the feed. I am trading on currency futures and I am sure my feed is different.

Peace
Peace
  • #417
  • Edited 9:52pm Nov 14, 2007 9:42pm | Edited 9:52pm
Hmmmm....my feed is NorthFinance.

But anywhoooo, as my chart clearly illustrates I didn't follow FeB's entry. i should have waited until the next candle, and only jump in if it breaks the current candle's high. I guess i still have some vices that i have to get rid off...like jumping too early in a trade because i am afraid of jumping too late if i wait. But then, if i win I consider myself lucky - not skilled- and if i lose I consider myself stupid for not following the rules. So unless i follow a strict set of rules I will always be in this loss-loss situation.

I am going to follow Feb's rules to the letter because: 1- they make sense to me, 2- If I follow them then when i win I will win because i have a discipline and a method, and 3- If I lose it will be a fluke.

Now if after some time of following these rules they don't work, I will start trading based on the horoscope, because i won't know what else to do!!!! PA is the only thing that makes sense to me!!! (did I say that before?)

So FEB it is up to you: shall i start reading the horoscope? Lol...just kidding. I am following you not because you are the Big Brother or the super guru, but because you and me and many in here share the same point of view: things have to make sense.
  • #418
  • Nov 14, 2007 9:44pm Nov 14, 2007 9:44pm
Quoting leighsww
Oh hey, you guys, isn't a gap to the upside mean a strong upward movement?

Okay, I'm just learning still this PA stuff, but I can swear that that's a good sign of a strong upward movement.
Okay, I'm browsing through that book, and that's not really what it says specifically about gaps, lol.

There's a lot about it (actually, there's a ton of various stuff they say about it and what they mean if x and y, etc. happens), so it'll take me awhile to read through that chapter, lol. I'm sure somebody here knows the significance of gaps and will be faster to respond than my reading that chapter, lol.

For me, I'm not going to worry about it, it's still not going to determine my entry, because I'm still only looking to meet the feb method criteria
  • #419
  • Nov 14, 2007 9:46pm Nov 14, 2007 9:46pm
Quoting alcastro
Now if after some time of following thiese rules they don't work, I will start trading based on the horoscope, because i won't know what else to do!!!! PA is the only thing that makes sense to me!!! (did I say that before?)
ROTF!!!

If I were drinking my water right now, I would have splattered it all over my monitor!!!

* edited - I at first bolded where I thought was funny, but when I went back to read it, the whole dang paragraph was a riot, lol
  • #420
  • Nov 14, 2007 9:52pm Nov 14, 2007 9:52pm
I hear you AL

I just bring experience to the table . That's it

I was a pit clerk back in 1981, 16 years old. Traders were using flow charts to draw bollinger bands back then.

Now I am considering retirement. I would like to start a career as a professional gambler. Black Jack.


LOL I am teasing you leighs

Peace
Peace
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