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The System (Irony included)

  • #881
  • Dec 4, 2007 2:06am Dec 4, 2007 2:06am
You have done well. You thought process is right on IMHO. You waited for the setup. Entered with a plan on where to exit for profit and loss. Monitored your trade accordingly and exited with a mindset of "I can always get back in on another setup".

Trading does not have to be a complicated evolution and you have clearly demonstrated that here.

Well done!

Quoting letitride
Hi!!!

I'm a bit late but congrats clockwork. All the best in the years to come.


Part 1
Below is a trade I took on the NZ/CAD using the V formation on the 4hr chart. The Daily is in a defined uptrend.

Part 2

Ok guys/gals I went to bed last night leaving my stop and take profit in place. Unfortunately price never got to where I planned for it too. Which in the life of the forex market happens.(that's why MM is so important hey) So now I'm managing the trade looking at a small loss. Below is a chart of what I'm seeing

Part 3

Finally closed my position today for a bit better than break even. I've been observing my position throughout the Asia session and witnessing NZ weakness across its crosses. It may still turn around and shoot back up and make a donkey out of me but to be honest I didn't want to see my trade go into the negative again for a second time. I prefer my trades to move smoothly in the intended direction otherwise I pull the pin and wait for another setup.

cheers guys
Nothing is impossible, with a willing mind!
  • #882
  • Dec 4, 2007 2:08am Dec 4, 2007 2:08am
Quoting clockwork71
Hi all -

Wanted to thank you all for the best wishes.

It went really well, except that my 2 year-old son decided that he couldn't be bothered to wear his suit and walk up with us. He had more important things to attend to, as it was getting close to nap time.

So....Julie's mother took him into the back row, so they could watch.

While I was putting the ring on her finger....(Which just happened to be the most anxious moment in my life....) I hear my son say (loud enough for everyone to hear.....) "Nana......I went poopie."



Oh well, it's on videotape. I will keep it for when he is 16, and his girlfriend comes over to meet Julie and I.


Clockwork
Congratulations, man!

But, I got confused a little bit. You said it is your wedding, but your son is 2 years old already? Sorry, if anything annoying you.
  • #883
  • Dec 4, 2007 2:13am Dec 4, 2007 2:13am
Quoting Trader_V
You have done well. You thought process is right on IMHO. You waited for the setup. Entered with a plan on where to exit for profit and loss. Monitored your trade accordingly and exited with a mindset of "I can always get back in on another setup".

Trading does not have to be a complicated evolution and you have clearly demonstrated that here.

Well done!
Glad you come back.

I have made three "calls" by now, A/U. U/C and A/U again. All of them proved valuable and profitable. I hope my callings based on Feb and your idea really helped fellow traders.

Yes, you and Feb's way of day-trading ideology are great!

David
  • #884
  • Dec 4, 2007 2:38am Dec 4, 2007 2:38am
Quoting Trader_V
You have done well. You thought process is right on IMHO. You waited for the setup. Entered with a plan on where to exit for profit and loss. Monitored your trade accordingly and exited with a mindset of "I can always get back in on another setup".

Trading does not have to be a complicated evolution and you have clearly demonstrated that here.

Well done!

Hey V

Thanks for your words of reassurance it's really appreciated mate.

This is my first time trading in a December so I'm also trying to be cautious of big guys unwinding this month before the holidays and the lower liquidity usually around this time of year.

cheers
  • #885
  • Dec 4, 2007 2:57am Dec 4, 2007 2:57am
Quoting clockwork71
Hi all -

Wanted to thank you all for the best wishes.

It went really well, except that my 2 year-old son decided that he couldn't be bothered to wear his suit and walk up with us. He had more important things to attend to, as it was getting close to nap time.

So....Julie's mother took him into the back row, so they could watch.

While I was putting the ring on her finger....(Which just happened to be the most anxious moment in my life....) I hear my son say (loud enough for everyone to hear.....) "Nana......I went poopie."



Oh well, it's on videotape. I will keep it for when he is 16, and his girlfriend comes over to meet Julie and I.


Clockwork

Hi clockwork,

Best wishes from Europe too.
My daughter was 2 years old too when I got married.
Today I'm waiting that my wife came back from the scan to know if little Fab #3 is a little boy or little girl. :-)

Cordialement,

Fabrice
  • #886
  • Dec 4, 2007 3:39am Dec 4, 2007 3:39am
Quoting Trader_V
...
In leau of this inconsistent market action I think this is a good time to really dig into some methodology and post some nice detail on charts to help you guys further along in the learning process. We may even be able to discuss some alternate ways to trade this same methodology. I am not talking crazy changes only slight variations to show how you can adapt this methodology for different trading styles.

I would even like to post some example charts from historical data and post them here as a Q&A (what would you do in this situation kind of thing).
...

Trader_V
Hi Trader_V,

That's the kind of offering I cannot decline. :-)

By the way, thanks for all Trader.

Fabrice
  • #887
  • Dec 4, 2007 10:12pm Dec 4, 2007 10:12pm
Quoting Green_David
Congratulations, man!

But, I got confused a little bit. You said it is your wedding, but your son is 2 years old already? Sorry, if anything annoying you.

Yes, we waited to get married until after he was born. I know, not conventional......but she was in school, and he had to have several surgeries as a newborn. So, in the scheme of things, we felt it could wait.

(he is 100% healthy now......thank God Julie is a nurse, and has great medical insurance.)

Clockwork
  • #888
  • Dec 4, 2007 10:15pm Dec 4, 2007 10:15pm
Quoting Fab
Hi clockwork,

Best wishes from Europe too.
My daughter was 2 years old too when I got married.
Today I'm waiting that my wife came back from the scan to know if little Fab #3 is a little boy or little girl. :-)

Cordialement,

Fabrice

Excellent! Let us know if boy or girl.

We found out two weeks ago, there is another one on the way for us as well! We wont know if boy or girl for another 8 weeks I believe.

Maybe they can learn to trade together? :-)

Clockwork
  • #889
  • Dec 4, 2007 10:49pm Dec 4, 2007 10:49pm
Quoting clockwork71
Excellent! Let us know if boy or girl.

We found out two weeks ago, there is another one on the way for us as well! We wont know if boy or girl for another 8 weeks I believe.

Maybe they can learn to trade together? :-)

Clockwork
Yo CW... congrats. My wife is trying to get into Nursing school. Been crazy out in Cali... almost impossible to get in... she's tried for three years now...
Mr. Trend
  • #890
  • Dec 5, 2007 12:04am Dec 5, 2007 12:04am
Sure thing Fab,

I am away from my charts for the next few days but as soon as I can get to them we will start going through some stuff.

Congrats on #3!!! Man are you gonna be busy...lol



Quoting Fab
Hi Trader_V,

That's the kind of offering I cannot decline. :-)

By the way, thanks for all Trader.

Fabrice
Nothing is impossible, with a willing mind!
  • #891
  • Dec 5, 2007 5:39am Dec 5, 2007 5:39am
Quoting clockwork71
Yes, we waited to get married until after he was born. I know, not conventional......but she was in school, and he had to have several surgeries as a newborn. So, in the scheme of things, we felt it could wait.

(he is 100% healthy now......thank God Julie is a nurse, and has great medical insurance.)

Clockwork
Glad to know you kept your baby. He is the gift from God. In my country, abortions are very popular and I realy don't like this.

Wish more $$$ to your trading.

David
  • #892
  • Dec 5, 2007 5:42am Dec 5, 2007 5:42am
Quoting Fab
Hi Trader_V,

That's the kind of offering I cannot decline. :-)

By the way, thanks for all Trader.

Fabrice
From clockwork's reply, I understand what Fab#3 means.

Congratulations! I wish I could have #2, #3, ... and so on.

David
  • #893
  • Dec 5, 2007 5:42am Dec 5, 2007 5:42am
Quoting Trader_V
Sure thing Fab,

I am away from my charts for the next few days but as soon as I can get to them we will start going through some stuff.

Congrats on #3!!! Man are you gonna be busy...lol
How are you?

Looking forward to your charts.

David
  • #894
  • Dec 5, 2007 7:29am Dec 5, 2007 7:29am
Doing great thanks for asking. I spent that week in FL for my vacation and I am now running around in the dessert...lol I will post a couple of pics when I get a chance.

I will try to get a chart or 2 up over the next couple of days as well. I read a thread here a short time back and went back over it again today due to some recent posts. I don't want to make any comments on it right now but let's just say there are some huge similarities in how we are trading.

Hope everyone is doing well. We will be back in action in no time. But in the mean time be patient lye in waiting for the perfect shot and then sqeeze (not jerk) the trigger.

See you soon folks

Cheers

Quoting Green_David
How are you?

Looking forward to your charts.

David
Nothing is impossible, with a willing mind!
  • #895
  • Dec 5, 2007 11:08am Dec 5, 2007 11:08am
Quoting feb2865
Ok guys

Ill put something together very soon You're still welcome to ask any questions here as you wish

Peace


Hi Feb:
Waiting for you puuting something on futures trading, thanks

Zee
ZHK
  • #896
  • Dec 5, 2007 4:35pm Dec 5, 2007 4:35pm
Ok, my first post on this thread. I've read the entire thread over the past few days and I've been watching the daily charts closely. Yesterday, I saw what I thought were three good trades based on the V pattern. Just small positions to start/experiment. Well, they all three got stopped out. So, I'd like to post my charts and get some feedback as to whether I made wrong decisions, made some other errors, or just picked a bad day to start trying this out

First trade was EUR/USD. It looked to me like this pair had maybe started out of it's funk of the last couple weeks. We had a short bullish candle followed by a longer bullish candle that took out the high of the previous candle forming the V pattern. I entered at 1.4757 with the SL set to the bottom of the previous bullish candle (not the wick but the body).

Second trade was USD/CHF. This one also looked to me like it was possibly coming out of it's correction. On that daily chart we see a gap down to a small bearish candle, followed by a bigger bearish candle that took out the low of the previous candle. I put in a short order at 1.1167 with the stop loss set at the top of the previous candle body.

Last trade was EUR/AUD. That one has a small bullish candle followed by a bigger bullish candle that takes out he high of the previous 4 candles. I put in a long order at 1.6953. This one I put the stop loss at about halfway down the previous candle since the candle was extremely long and I didn't want to have a 310 pip SL. Obviously if I would have put the SL at the bottom of the previous candle, that trade would still be ongoing, but at a huge loss right now.

My candles might look different than yours. Mine are Alpari which starts the day at 23:00 GMT.

Any feedback would be appreciated.

Bruce
Attached Images
  • #897
  • Dec 5, 2007 5:06pm Dec 5, 2007 5:06pm
Regarding the E/U trade

If there was a bullish "V" pattern established on the third leg of that candle it just barley made it higher than the previous high of 12/04 by only three pips.

That's when you go to the 4hr chart and try to "get a better price" as feb says and enter on the retrace. If you went to the 4hr charts you would see that we had a strong 4hr bearish "V" pattern that retraced all the way down to 1.4591. looking at the 4hr charts I would have forgotten all about the Daily at that point and looked for a 4hr chart bearish entry point at around the lower low of the 3rd candle there at around the 1.4698 area and then waited for it to retrace a bit to 1.4720 and then rode it all the way down from there.

Right now were looking at a daily bar that looks like a DBHLC to me which in James16 lingo signals a down trend coming for tomorrow (after the retrace of course).
trading naked.......
  • #898
  • Dec 5, 2007 5:48pm Dec 5, 2007 5:48pm
Regarding the USD/CHF trade

perfect bearish "V" opportunity was on 11/19 at around the 1.1155 area or if more conservative approach on 11/20 at 1.1144 area.

11/27 first leg of "V" uptrend, confirmed on 11/29 at around 1.1195 area, once again wait for a retrace for entry. If you went to the 4hr chart on 11/29 after the higher high was made the very next 4hr bar retraced all the way down to 1.1155 for a really good entry point.
trading naked.......
  • #899
  • Dec 5, 2007 6:10pm Dec 5, 2007 6:10pm
Quoting brucehvn
First trade was EUR/USD. It looked to me like this pair had maybe started out of it's funk of the last couple weeks. We had a short bullish candle followed by a longer bullish candle that took out the high of the previous candle forming the V pattern. I entered at 1.4757 with the SL set to the bottom of the previous bullish candle (not the wick but the body).

Second trade was USD/CHF. This one also looked to me like it was possibly coming out of it's correction. On that daily chart we see a gap down to a small bearish candle, followed by a bigger bearish candle that took out the low of the previous candle. I put in a short order at 1.1167 with the stop loss set at the top of the previous candle body.

Last trade was EUR/AUD. That one has a small bullish candle followed by a bigger bullish candle that takes out he high of the previous 4 candles. I put in a long order at 1.6953. This one I put the stop loss at about halfway down the previous candle since the candle was extremely long and I didn't want to have a 310 pip SL. Obviously if I would have put the SL at the bottom of the previous candle, that trade would still be ongoing, but at a huge loss right now.

My candles might look different than yours. Mine are Alpari which starts the day at 23:00 GMT.

Any feedback would be appreciated.

Bruce
Hey Bruce -

From what I understand (and from a previous post by the author of this thread), to keep things on the safe side, you are really looking for a picture perfect 3 candle setup. The btm V candle being candle one......the second candle breaking the high...and the third candle continuing the momentum by breaking the high of the second candle therefore giving you an entry.
  • #900
  • Dec 5, 2007 6:29pm Dec 5, 2007 6:29pm
Hi,

I'm quite new to the forum and I've been reading this thread all day (wow... so many pages) and I must say I am contagiated by the way of thinking you guys have shown here.

I would like to post here this image from USD/JPY as it is right now (4 hour chart).

As I understand there is the possibility as the pattern unfolds that the price cannot break the previous high of last week. I can see that the main trend is downward for a long time, so we should be aiming for opening a short position.

Now from what I've read I *think* that we should open the short position if the next two candles are bearish (meaning it failed to break the previous high and is likely to presume the downtrend) and set a stop near the previous high.

My question is: Have I learned anything from this thread or am I getting it completely wrong?
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