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The System (Irony included)

  • #1,001
  • Jan 29, 2008 12:18pm Jan 29, 2008 12:18pm
Quoting clockwork71
YES.........we have a little boy. ;-)

He will be here June 20th or so....

Clockwork
Congratulations! Nice job!

Wonder if you have time to trade forex after he comes to this world.
  • #1,002
  • Jan 29, 2008 12:24pm Jan 29, 2008 12:24pm
Quoting clockwork71
YES.........we have a little boy. ;-)

He will be here June 20th or so....

Clockwork
Congratulations! Now you can multitask easier. You will be always awake for the London session.
  • #1,003
  • Jan 29, 2008 2:13pm Jan 29, 2008 2:13pm
Congrats, clockwork

welcome to parenthood. I assure you it will be a fun ride, despite any situations in between.

If I have the choice I will be a daddy again.


Peace
Peace
  • #1,004
  • Feb 2, 2008 12:10am Feb 2, 2008 12:10am
Hi all,

I know this thread is less active now, i came upon it a few weeks ago. But still, I like to say a BIG THANKS to the Thread Starter - FEB plus Trader V & Old Dog.
Coz this thread has given me 2 "ÄHA" moments, and has made a difference to my trading.

Thank you coz:
1) Feb's continuous advises on all aspects of trading. My main problem is the FEAR of losing. I am so scared to be wrong even though i only trading mini lot then (i have now change to micro lots). I kept on demo-ing and took very few live trades only i am so dead sure. At times even when i am dead sure, i am still scared of pressing the btn. So its has been a struggle for many many months.

2) The reference to Jesse Livermore. I finally picked up the book and is blown away! His quote "Back my opinion with my money." has helped me to move a hugh leap over fear of trading. Now i trade in microlots rather then demo trade.

3) Trader V and Old Dog. Trader V has been kind to share his analysis while old dog's fews posts esp his description of his decision process has given me the "ÄHA". All of a sudden Price Action is much more clearer now and less mystical.


Thank you so much everyone.

  • #1,005
  • Feb 2, 2008 11:00am Feb 2, 2008 11:00am
Quoting ellipses
Hi all,

I know this thread is less active now, i came upon it a few weeks ago. But still, I like to say a BIG THANKS to the Thread Starter - FEB plus Trader V & Old Dog.
Coz this thread has given me 2 "ÄHA" moments, and has made a difference to my trading.

Thank you coz:
1) Feb's continuous advises on all aspects of trading. My main problem is the FEAR of losing. I am so scared to be wrong even though i only trading mini lot then (i have now change to micro lots). I kept on demo-ing and took very few live trades only i am so dead sure. At times even when i am dead sure, i am still scared of pressing the btn. So its has been a struggle for many many months.

2) The reference to Jesse Livermore. I finally picked up the book and is blown away! His quote "Back my opinion with my money." has helped me to move a hugh leap over fear of trading. Now i trade in microlots rather then demo trade.

3) Trader V and Old Dog. Trader V has been kind to share his analysis while old dog's fews posts esp his description of his decision process has given me the "ÄHA". All of a sudden Price Action is much more clearer now and less mystical.


Thank you so much everyone.

couldnt agree more, this is one of the best thread i had been follow
  • #1,006
  • Feb 2, 2008 11:20am Feb 2, 2008 11:20am
Quoting milan47
Congratulations! Now you can multitask easier. You will be always awake for the London session.
never thought of it that way Milan......lol
  • #1,007
  • Feb 2, 2008 11:22am Feb 2, 2008 11:22am
Quoting Green_David
Congratulations! Nice job!

Wonder if you have time to trade forex after he comes to this world.
Actually, this will force me to play longer term charts......which is where I should be focused anyway.

4 hour is ok, Daily is great.....low leverage, big returns.

Thanks all.
  • #1,008
  • Feb 2, 2008 12:33pm Feb 2, 2008 12:33pm
From price action perspective, would we see this GBP chart as a buying opportunity at a bargain price, or would we wait for V confirmation of close above the weekly reversal?

May be this is the basic question about the whole trading, still would like to see how the group thinks, who are more focussed on PA and indicator free trading.

Thanks much

TradeStar
Attached Image (click to enlarge)
Click to Enlarge Name: gbp_weeekly.gif Size: 11 KB
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #1,009
  • Feb 3, 2008 2:35am Feb 3, 2008 2:35am
Quoting TradeStar
From price action perspective, would we see this GBP chart as a buying opportunity at a bargain price, or would we wait for V confirmation of close above the weekly reversal?

May be this is the basic question about the whole trading, still would like to see how the group thinks, who are more focussed on PA and indicator free trading.

Thanks much

TradeStar
Well, if you are trading weekly "V" formations I would first wait till the higher hi has been broken on the upcoming third candle this week and it looks like it'll have to breach around the 1.9957 area (green arrow)to do that. But I'd be waiting to see more immediately what happens on the bounce area of the (red arrow) before I guessed where the week was headed.
Attached Image (click to enlarge)
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trading naked.......
  • #1,010
  • Feb 4, 2008 10:08am Feb 4, 2008 10:08am
Hello Feb, this is my first post in the forums. Thank you so much for this thread, it's been so helpful! May I ask about the trades at big numbers that you wrote about earlier--just a simple question but not quite clear to me, do you put your sell order just below the number, if price is rising toward it, to trade the bounce back from profit taking, for example? Or do you wait till price has passed the number by a few pips before selling in this case? (And vice versa for price falling toward the number?) I see the patterns you describe so often but I'm not sure of your exact technique. Many thanks, if you have time to reply! and thank you again for all your wisdom. Nina
  • #1,011
  • Feb 5, 2008 5:59am Feb 5, 2008 5:59am
Quoting Nina
Hello Feb, this is my first post in the forums. Thank you so much for this thread, it's been so helpful! May I ask about the trades at big numbers that you wrote about earlier--just a simple question but not quite clear to me, do you put your sell order just below the number, if price is rising toward it, to trade the bounce back from profit taking, for example? Or do you wait till price has passed the number by a few pips before selling in this case? (And vice versa for price falling toward the number?) I see the patterns you describe so often but I'm not sure of your exact technique. Many thanks, if you have time to reply! and thank you again for all your wisdom. Nina

Hello nina and welcome Congratulations on your first post and feel free to ask any questions. This year it's been quite busy for me but I peek around here from time to time. My sincere apologies if my response is somehow delayed.

Once I get a break from the higher high - lower low on a V-formation, I try to get a better price (not pattern) on a lower time frame. As I trade currency futures which is a true zero-sum game, I always try to use limit orders to get the most better price possible. But you need to be aware that sometimes is just not possible as the market picks up momentum and you shouldn't miss the bus.

Once you get a signal, it's all about price. Lets assume that the market is breaking 1.45 on the way up. Well wait and see if you get a pullback to 1.4450 area o go long. You don't have to get a better price if you want to. This is a completely optional strategy. If you still have doubts, please don't hesitate to ask. I just catch a cold so I'll be home the rest of the week, meaning my response will be faster.


Hope it helps

Peace
Peace
  • #1,012
  • Feb 5, 2008 6:10am Feb 5, 2008 6:10am
To all of you who have asked me about lower time frames, faster trades and the like

I don't trade forex lower than 1 day/4hr combo. I am very picky on my trades. I trade mini S&P(es) on five minutes charts (1 minute of Fed's announcements) and I use exclusively pivot points among other S/R lines.

About market correlations, I prefer not to talk about it in this forum as I use and arb strategy that might sound a little offensive to the sponsors of this site and I will abide this site rules 100%

Peace
Peace
  • #1,013
  • Feb 5, 2008 7:01am Feb 5, 2008 7:01am
Quoting feb2865
Clockwork


I place very strategically resting order with a small limit 2-4 ticks above below pivot points...why??? because the market reacts most of the time when it get to the pivots. There's plenty of stop orders to be hit and ...somebody has to be at the other side don't you think??? and even better, poor souls buying on breakouts...oh boy it becomes a carnage on the pits...

I call this a bread and butter strategy.....not to be confused with any other

That's a truly example of be a predator.
Thank you very much for your time and reply Feb. I think I understand what you have been teaching us as your main strategy. I was just asking about this other method that you mentioned, around the pivots or big numbers, exactly how you set your resting orders as the price approaches from below or above. I hope this isn't too simple or a diversion from your main points, but would be very helpful to understand! Warm regards, Nina
  • #1,014
  • Feb 5, 2008 7:25am Feb 5, 2008 7:25am
Quoting Nina
Thank you very much for your time and reply Feb. I think I understand what you have been teaching us as your main strategy. I was just asking about this other method that you mentioned, around the pivots or big numbers, exactly how you set your resting orders as the price approaches from below or above. I hope this isn't too simple or a diversion from your main points, but would be very helpful to understand! Warm regards, Nina

Ok ..this was probably mentioned as someone I believe clockwork was talking about pivot points

I fade pivot points on the S&P (ES) I place stop orders against the pivots. if the market is moving toward the pivot, I place a resting (stop) order 1 point (4 ticks ) above/below the pivot. If the market is moving long toward the pivot, my order would be short 4 ticks below the pivot. If the market is moving short toward the pivot, my order will be 4 ticks long above the pivot. I set my loss at the other side of the pivot and as the market moves in my favor, I trail my stop manually. This is very important 'cause if you let the program set you trailing, sometimes momentum could kill your position.

Forex speaking, I don't play this strategy I took a peek once on the GPB/JPY using 144 tick charts and worked nicely. S&P market really respect these lines in a extremely high percentage. Probably better than any other market I have ever seen so far.


If you're going to use them in spot forex, make sure your broker's clock is setup at exactly 00:00 GMT and your pivots are setup at 00:00GMT.

I personally don't recommend any par other tha GPB/JPY for pivot trading. They might work in other pairs but not as accurate.

Peace
Peace
  • #1,015
  • Feb 5, 2008 7:38am Feb 5, 2008 7:38am
Thank you Feb, that's just what I was asking. This could work with big numbers as well as pivots, on main pairs, couldn't it? Nina
  • #1,016
  • Feb 5, 2008 8:16am Feb 5, 2008 8:16am
Quoting Nina
Thank you Feb, that's just what I was asking. This could work with big numbers as well as pivots, on main pairs, couldn't it? Nina

Absolutely

Also look for the high/low of the past session. You can fade these numbers as well.

The opening price will be another place you can fade

I normally have on my charts(S&P) - pivot points, daily, weekly and monthly. Pivot points daily midranges and high/low of the past session. Surprisingly the market reacts pretty often at these prices.

In forex, look for round numbers AKA 1.4500 etc - nice fade trades.

peace
Peace
  • #1,017
  • Feb 5, 2008 9:14am Feb 5, 2008 9:14am
Thanks so much again Feb, this is so helpful to use. I really appreciate your generous replies, to me and to all. Warm regards.
  • #1,018
  • Feb 5, 2008 9:32am Feb 5, 2008 9:32am
Quoting Nina
Thanks so much again Feb, this is so helpful to use. I really appreciate your generous replies, to me and to all. Warm regards.
you're welcome

Peace
Peace
  • #1,019
  • Feb 13, 2008 3:57am Feb 13, 2008 3:57am
HI Feb

Great thread.
Thank you very much for sharing
your methods with us
Especially the Irony, LOL


I was just wondering if this is what you would call a pull back on Eur/Aud and
if so how would you go about entering short here....?
I just took this screen shot.

Thank you in advance,

Donagh
Attached Image (click to enlarge)
Click to Enlarge Name: eur aud.gif Size: 21 KB
The more I wait the more I make
  • #1,020
  • Feb 14, 2008 12:31pm Feb 14, 2008 12:31pm
Seems as though this thread is dead.

Pity

I was wondering does anyone here ever trade gbp/chf ??
The more I wait the more I make
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