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Tiki Trader Trades

  • #321
  • Jan 21, 2008 9:56pm Jan 21, 2008 9:56pm
Quoting Tiki Trader
I too wonder the same thing... I don't know if I know exactly how world markets are right at this moment... if it's going to be another down night... and will we really have a down day on DOW tomorrow...

Try looking here to get some idea

http://money.cnn.com/data/world_markets/

But I must admit overall... I trade what the charts say... I know so very little on fundamentals... I will always lose on that...

When I don't understand the charts... I should stay out.... I am only in the CHF trade right now... and while I have all the divergence idea etc... my main confort right now is the weekly Pin from last week...
Yeah..its crazy out there...Some interesting perspective
http://www.dailyfx.com/story/dailyfx...951424040.html
remember this was written before asian markets opened...
I think tomorrow USD will appreciate against all currencies except against maybe JPY....CHF being a mostly neutral currency...I am not sure of the impact there...I placed a limit sell order on GBPJPY...thinking of doing the same on EURUSD...
  • #322
  • Jan 21, 2008 9:59pm Jan 21, 2008 9:59pm
Yes to Pin Bar reversal... BUT not all Pin Bars work... it has to be the right Pin Bar at the right time and place.... yes higher time frames are better... you really should believe that if you cannot trade higher TF... you will not win on lower TF...

I think I have seen you reading J16... and that is where you should be... stay away as much as you can from all those lagging indicators that tell you the past but not the future...

I actually have not lost any of my three or four trades this year... but I will... and I will post them here too...

Main advice... try to be one of the few who do not have to blow up an account.... never risk more than 1 or 2 % of your account at any one time... if your account is small, use a broker that lets you trade micro sizes... put your stop where it really belongs and trade smaller to keep your risk correct.... instead of putting your stop closer to risk more... and increase the chance of losing... for instance.... last weeks Pin on CHF requires a specific STOP at a certain place.... and it's not so close... so I am only risking 8 cents a pip... that is what I can afford for my account... if I lose... I will be here to trade tomorrow again...

Quoting KissFan
i demo'd for a few months. did pretty well. I find that i take trading with real money way more seriously. If I blow this account, it will not change my life. Don't get me wrong. I'm dead set on winning. I've been looking in on you and mike w's conversations. I really respect you gentlemen. You seem to know what you are doing. I also see many on here who make their calls public. I appreciate that as well. Many are winners. I need to KNOW that I can do this on my own. I have a real determination and patience about this process. Any time you guys have advice for me it is appreciated and I will absolutely take it to heart. Now, about pin bars...they signal reversal? If so, I'll bet you will say that they are more reliable the higher the time frame yes?
  • #323
  • Jan 21, 2008 10:11pm Jan 21, 2008 10:11pm
Tiki,

In your experience, would you trade the 4Hr DBLHC in EURJPY? It meets all the criteria outlined by James - a. After a downtrend; b. Close above a Fib Level.
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  • #324
  • Jan 21, 2008 10:12pm Jan 21, 2008 10:12pm
Quoting Tiki Trader
Yes to Pin Bar reversal... BUT not all Pin Bars work... it has to be the right Pin Bar at the right time and place.... yes higher time frames are better... you really should believe that if you cannot trade higher TF... you will not win on lower TF...

I think I have seen you reading J16... and that is where you should be... stay away as much as you can from all those lagging indicators that tell you the past but not the future...

I actually have not lost any of my three or four trades this year... but I will... and I will post them here too...

Main advice... try to be one of the few who do not have to blow up an account.... never risk more than 1 or 2 % of your account at any one time... if your account is small, use a broker that lets you trade micro sizes... put your stop where it really belongs and trade smaller to keep your risk correct.... instead of putting your stop closer to risk more... and increase the chance of losing... for instance.... last weeks Pin on CHF requires a specific STOP at a certain place.... and it's not so close... so I am only risking 8 cents a pip... that is what I can afford for my account... if I lose... I will be here to trade tomorrow again...
yup! been to james16 thread. Back to it tomorrow to learn more about pin bars. thanks for your help and time. i'm hittin' the sack.
  • #325
  • Jan 21, 2008 10:27pm Jan 21, 2008 10:27pm
If price continues as it is on your chart, I would say YES.. trade... BUT... how do you know it is 'after a down trend' ??? NO... we really are in heavy down trend no matter what time frame you look at... SO... remember you would be trading against the trend... and 4 hour is the most difficult Time Frame...

My charts do not show a DBLHC... your looks nice... !! And also, we see price not going your way at the moment... what if markets tank again tonight...?? I know, you are you did not take the trade last night... ( my fault ?? )

If you trade it... consider also putting a sell order under the dblhc too... and trade smaller against the trend...

Good Luck.. !!

Quoting Eklavya
Tiki,

In your experience, would you trade the 4Hr DBLHC in EURJPY? It meets all the criteria outlined by James - a. After a downtrend; b. Close above a Fib Level.
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  • #326
  • Jan 21, 2008 10:32pm Jan 21, 2008 10:32pm
Quoting Tiki Trader
If price continues as it is on your chart, I would say YES.. trade... BUT... how do you know it is 'after a down trend' ??? NO... we really are in heavy down trend no matter what time frame you look at... SO... remember you would be trading against the trend... and 4 hour is the most difficult Time Frame...

My charts do not show a DBLHC... your looks nice... !! And also, we see price not going your way at the moment... what if markets tank again tonight...?? I know, you are you did not take the trade last night... ( my fault ?? )

If you trade it... consider also putting a sell order under the dblhc too... and trade smaller against the trend...

Good Luck.. !!
Tiki,
I am not going to trade this due to the strong downtrend. I just wanted an extra opinion on why it is a bad idea.

Regarding the trade last night, it is not your fault. It was completely my responsibility and I am glad I did not take the trade. Maybe as I develop my market intuition and am able to prove it in backtesting I might start taking such trades. In fact I am grateful that you gave me your opinion on the trade.
  • #327
  • Jan 21, 2008 10:36pm Jan 21, 2008 10:36pm
We all saw it tanking.... we all could have jumped in at any time and come out a winner last night... but it just is not the right way to trade.... my days of doing that are over... I wanted pips really bad last night too... but I have learned hard lessons lately... and I have made promises not to be like that any more... I have to try a keep the promises... I did not win... but I did not lose... !!!

Quoting Eklavya
Tiki,
I am not going to trade this due to the strong downtrend. I just wanted an extra opinion on why it is a bad idea.

Regarding the trade last night, it is not your fault. It was completely my responsibility and I am glad I did not take the trade. Maybe as I develop my market intuition and am able to prove it in backtesting I might start taking such trades. In fact I am grateful that you gave me your opinion on the trade.
  • #328
  • Jan 22, 2008 2:49pm Jan 22, 2008 2:49pm
Quoting Tiki Trader
I will let mine go for a while... I am not risking much... AND there is a nice weekly Pin Bar going in my favor.... well, your favor too... !!!
This pin bar signals up movement right? I was 195 pips upside down when we spoke yesterday. I'm upside down 61 pips now (I know "what an idiot"). Anyway, do you see more downward movement. Looks like we might be seeing a double bottom on the daily. If it breaks I should be home free and have this monkey off my back! What do you think?
  • #329
  • Jan 22, 2008 3:48pm Jan 22, 2008 3:48pm
Oh now see... I thought you said the other way around... well, actually... from how long ago is your trade...??? If you were losing 195 last night and now only 61...?? Or do I just not have a clue...??

My trade is getting worse by the minute and I am starting to get kinda miffed about it... better not make a double bottom, or come anywhwere's close to that bottom... or I will be double miffffffed....

Quoting KissFan
This pin bar signals up movement right? I was 195 pips upside down when we spoke yesterday. I'm upside down 61 pips now (I know "what an idiot"). Anyway, do you see more downward movement. Looks like we might be seeing a double bottom on the daily. If it breaks I should be home free and have this monkey off my back! What do you think?
  • #330
  • Jan 22, 2008 4:01pm Jan 22, 2008 4:01pm
If world markets recover tonight... I would think we see more down on CHF and more UP on EUR....
  • #331
  • Jan 22, 2008 4:06pm Jan 22, 2008 4:06pm
Quoting Tiki Trader
Oh now see... I thought you said the other way around... well, actually... from how long ago is your trade...??? If you were losing 195 last night and now only 61...?? Or do I just not have a clue...??

My trade is getting worse by the minute and I am starting to get kinda miffed about it... better not make a double bottom, or come anywhwere's close to that bottom... or I will be double miffffffed....

My short was executed on 15 Jan. Short from 1.0903. I have watched it ride up and now back down. Currently down 45 pips. Feel a littel better now.
  • #332
  • Jan 22, 2008 5:12pm Jan 22, 2008 5:12pm
OHooooooooooo..... and would I be right in thinking you took that short when the lowest low was broken...???

And what time frame were you trading when you took the trade...??

Quoting KissFan
My short was executed on 15 Jan. Short from 1.0903. I have watched it ride up and now back down. Currently down 45 pips. Feel a littel better now.
  • #333
  • Jan 22, 2008 5:15pm Jan 22, 2008 5:15pm
Tiki

Your Chf long .. are you still in ? Why do you think it went so many pips against this trade?

I follow your progress with interest. I would love to see you making a bundle every day.
  • #334
  • Jan 22, 2008 5:45pm Jan 22, 2008 5:45pm
Quoting Tiki Trader
OHooooooooooo..... and would I be right in thinking you took that short when the lowest low was broken...???
Nope. I took the trade based on a trend line that I drew, got distracted and it went against me something like 70 pips in 12 minutes.

Quote
And what time frame were you trading when you took the trade...??

1 hr
  • #335
  • Jan 22, 2008 7:03pm Jan 22, 2008 7:03pm
Sent you a bunch of stuff.... it should keep you busy for quite a while... !!!

Quoting KissFan
Nope. I took the trade based on a trend line that I drew, got distracted and it went against me something like 70 pips in 12 minutes.



1 hr
  • #336
  • Jan 22, 2008 7:08pm Jan 22, 2008 7:08pm
But.. can you now look on the daily time frame and understand what went wrong...??? That is more important...

I have moved my stop back up on this little up turn we have had.... if price comes back down past 1.0910... I am out...

Quoting KissFan
Nope. I took the trade based on a trend line that I drew, got distracted and it went against me something like 70 pips in 12 minutes.



1 hr
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  • #337
  • Jan 22, 2008 7:08pm Jan 22, 2008 7:08pm
Quoting Tiki Trader
Sent you a bunch of stuff.... it should keep you busy for quite a while... !!!
i will read this over the next 24hrs. thanks so much for the material!

KissFan
  • #338
  • Jan 22, 2008 8:13pm Jan 22, 2008 8:13pm
USDCHF appears to have put in a five wave rally and a three wave decline that is beind propped by the 61.8 support level. Looks like we're do for a rally higher in a "C" wave or a Wave 3.... Price is ripe for a long now http://www.learncurrencytrading.com/...ilies/wink.gif Target it is above 1.1121

just MHO
Don't chase the market, Let the market come to you
  • #339
  • Jan 22, 2008 8:17pm Jan 22, 2008 8:17pm
I certainly hope so... are you sure you got your counts right ... I hope so... Plus your ideas make me continue to think we could get all the way to the 62 ema daily... at least if they could hold off dropping those interest rates again for a few more days...

I actually have thoughts of adding to my position... but risky with all this world market crashing stuff...

Quoting Tmac
USDCHF appears to have put in a five wave rally and a three wave decline that is beind propped by the 61.8 support level. Looks like we're do for a rally higher in a "C" wave or a Wave 3.... Price is ripe for a long now http://www.learncurrencytrading.com/...ilies/wink.gif Target it is above 1.1121

just MHO
  • #340
  • Jan 22, 2008 8:21pm Jan 22, 2008 8:21pm
Quoting Tiki Trader
I certainly hope so... are you sure you got your counts right ... I hope so... Plus your ideas make me continue to think we could get all the way to the 62 ema daily... at least if they could hold off dropping those interest rates again for a few more days...

I actually have thoughts of adding to my position... but risky with all this world market crashing stuff...
take a look
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Don't chase the market, Let the market come to you
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