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GBP/JPY for QQE Traders!

  • #1,681
  • Feb 19, 2008 5:08am Feb 19, 2008 5:08am
Quoting kujo17
Matt,

OH man, I wasn't insulted at all.
Text is just hard to interperate all the time.......

I totally agree with you and karmo, 217 is in the near future.

I just think we'll get down to 208.8 area first, to end wave 5 before the 3 wave move up to 217.

With a break of 210.5 and then 210.3 area, we'll go down a bit more.

I'm in profit now, so if she turns on me, I'll cash out and go long.

I trade what the charts tell me, just predicting a lower low before the move up.

If it doesn't happen, I'll trade accordingly.

209.0 by Mid London...........

Yesterdays Daily bar was bearish still.
So, I think more down will come.

If not by London, by a the time the Dow tanks tomorrow am !
Hallo Kujo!

And you were right to the point on that move! I am happy that you were not angry in a way. LOL!

See you around! Nice thread you and Sith have here.
Ciao
Matt
  • #1,682
  • Feb 19, 2008 5:22am Feb 19, 2008 5:22am
I have found in the last month that 5min charts are an excellent time frame to enter trades. If you follow Aus 15min strategy (using the stop reverse system for arrow trigger) it gets you in at a pretty good entry price. An arrow trigger plus a QQE5 cross in the arrow direction is a pretty good bet for good scalps.

Just wait for a dot (QQE5 cross) and an arrow (stop reverse line). Do your own testing.
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  • #1,683
  • Feb 19, 2008 6:04am Feb 19, 2008 6:04am
Quoting kujo17
I had 208.8 picked as a target, but wanted to stop out short incase it didn't make it down there.

Seem the 61.8 fib retrace was hit and 208.98 area was strong S/R

This, should hopefully be the turn around for the next 3 waves up to 216.50, the 50 fib retrace from the last large move down.

Onward and upward...... enough of the Neg swap the last few weeks......
Now it's bouncing from 208.69
Do you think it will get to 210.5 and then back to 208 by US opening?
  • #1,684
  • Feb 19, 2008 6:09am Feb 19, 2008 6:09am
Quoting marcb
Now it's bouncing from 208.69
Do you think it will get to 210.5 and then back to 208 by US opening?
I don't think we'll be going south again for a while.

Only thing that would get this down at US open would be the Dow tanking.

Was just reading an article on CCNMoney.com that the US stocks are set to rally at open, due to WalMart and other large co's reporting profits just prior to open.

So, at this point, it's 4:10am PST.
I'm still freakin awake, just making sure my small Long at 209.18 gets into some profit (entered early on a hunch), and wait for a true LONG signal to enter a larger position.

Then, if Dow rallies and sends us UP, I'll head to bed for a few hours around 5:30...... damn, I'm retarded............
  • #1,685
  • Feb 19, 2008 6:10am Feb 19, 2008 6:10am
Quoting Sith Lord
I have found in the last month that 5min charts are an excellent time frame to enter trades. If you follow Aus 15min strategy (using the stop reverse system for arrow trigger) it gets you in at a pretty good entry price. An arrow trigger plus a QQE5 cross in the arrow direction is a pretty good bet for good scalps.

Just wait for a dot (QQE5 cross) and an arrow (stop reverse line). Do your own testing.
This is excellent Sith.
I enter almost all my trades now off the 5M CCI crossing 0.
then, I look to the 15M QQE and CCIs for exits.

Unless, I'm using my Fibs to set a TP.

kj
  • #1,686
  • Feb 19, 2008 6:24am Feb 19, 2008 6:24am
Well, my second trade Sell won, bring me at BE for the Tokyo session. I'm going to trade NY this morning to see if I can get on top. I see that I already missed my first buy confirmation with the Twins, I woke up half hour after it got confimed, so I'll wait for the next confirmation to enter the buy... Congrats by the way Kujo on your new found thousands of dollars into your account this morning. =)
  • #1,687
  • Feb 19, 2008 6:26am Feb 19, 2008 6:26am
Updated 5M chart - aggressive trades can be taken with just a dot (QQE cross). I've just scalped 60 pips long without sweating. But try with a dot and arrow first.

The 2 things you need is a dot (QQE cross) and price to be above 5sma (green line). Conservative trades can be taken when Gannhilo (brown line) is broken and / or stop reverse line broken. Good night all.
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  • #1,688
  • Feb 19, 2008 6:35am Feb 19, 2008 6:35am
Here's my game plan.

1H chart.
we'll now retrace up to the 211.60 area.
We'll then fall back to 209.86 area.

We'll then move up to 213.5-214 area.

Once the 1H crosses up, we'll see the 211.6 area.
Once the 4H crosses up, we'll have the green light for 214.

Lets also hope we get a Dow rally today.
Was thinking of it dropping due to Options Exp., but seems Big Business will be reporting nice gains before the open of the NYSE, so stocks should rally a bit...... time will tell.
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  • #1,689
  • Feb 19, 2008 6:37am Feb 19, 2008 6:37am
Quoting Nobitacu
Well, my second trade Sell won, bring me at BE for the Tokyo session. I'm going to trade NY this morning to see if I can get on top. I see that I already missed my first buy confirmation with the Twins, I woke up half hour after it got confimed, so I'll wait for the next confirmation to enter the buy... Congrats by the way Kujo on your new found thousands of dollars into your account this morning. =)
thousands ???????? 10's of thousands...... kidding........ not yet anyway.

gracias
  • #1,690
  • Feb 19, 2008 6:39am Feb 19, 2008 6:39am
Quoting venci
...
So, at this point, it's 4:10am PST.
I'm still freakin awake, just making sure my small Long at 209.18 gets into some profit (entered early on a hunch), and wait for a true LONG signal to enter a larger position.
...

Kujo, how small is that smal and how big is your larger position .. in % of couse
and what SL you are useing?
I don't use SLs. It has the word LOSS in it.

Small long is 2 lots.
Larger position will be 4.
Once we're above the DP, I'll add more.

right now, my first TP target is 211.60.
I'll reassess from there.
  • #1,691
  • Feb 19, 2008 6:49am Feb 19, 2008 6:49am
Kujo,
You mentioned that your goal is trading daily charts with a standard account. I was just wondering why the standard account (100:1) when a mini (200:1) gives you more leverage. It is a game of percentages.
I trade with FXCM, are minis limited to holding a certain balance limit?
What are your thoughts?

Thanks!
  • #1,692
  • Feb 19, 2008 6:53am Feb 19, 2008 6:53am
HI bro

consider taking TP first at 211.40 , it was a strong resistance area, above it could target higher 212'sish or 213 area

just a thought

imran

Quoting kujo17
I don't use SLs. It has the word LOSS in it.

Small long is 2 lots.
Larger position will be 4.
Once we're above the DP, I'll add more.

right now, my first TP target is 211.60.
I'll reassess from there.
  • #1,693
  • Feb 19, 2008 7:00am Feb 19, 2008 7:00am
Quoting ultimate
Kujo,
You mentioned that your goal is trading daily charts with a standard account. I was just wondering why the standard account (100:1) when a mini (200:1) gives you more leverage. It is a game of percentages.
I trade with FXCM, are minis limited to holding a certain balance limit?
What are your thoughts?

Thanks!
Only because I'd probably move a high balance acct. to an ECN in Switzerland.
Dukascopy SA, fully insured accounts up to 1Million

Unlike a broker that spikes before news, hunting for SLs/Stop orders.
Or jack the spread, just prior to news.
Or, "reboots their server" and you lose your platform for 45 mins, only for it to come backup 70 pips swung in the wrong direction.

Market Maker brokers are fine..... but my goals, I want my money protected and off shore.

Of course, I may be looking too deep into things, but hey..... why not.

I'll keep a 'slush fund' account with IBFX probably ?

we'll see...... just thinkin aloud sometimes.
  • #1,694
  • Feb 19, 2008 7:02am Feb 19, 2008 7:02am
211.05 area seems to be stronger S/R than 211.40, so a break of that, should give us 211.60, which is just below R1
  • #1,695
  • Feb 19, 2008 7:10am Feb 19, 2008 7:10am
i am seeing 210.82 is the one to break for in my view, once above that next stop is 211.40 area , i do agree some strong resistances in that area

,
Quoting kujo17
211.05 area seems to be stronger S/R than 211.40, so a break of that, should give us 211.60, which is just below R1
  • #1,696
  • Edited 7:54am Feb 19, 2008 7:30am | Edited 7:54am
My Long confirmed, so I've entered now @210.03. TP/SL 60 as always for me.

Edit: Forgot to mention... don't trade what I trade, I'm still testing on my demo with the different strategies I'm using. So, best to always trade what YOU see on your own charts. ^^" This trade was entered when the Stoch was actually overbought on M15, so high risk, but I'm testing, so... it's ok, I take notes on these trades for future studies.
  • #1,697
  • Feb 19, 2008 8:43am Feb 19, 2008 8:43am
Quoting kujo17
Only because I'd probably move a high balance acct. to an ECN in Switzerland.
Dukascopy SA, fully insured accounts up to 1Million

Unlike a broker that spikes before news, hunting for SLs/Stop orders.
Or jack the spread, just prior to news.
Or, "reboots their server" and you lose your platform for 45 mins, only for it to come backup 70 pips swung in the wrong direction.

Market Maker brokers are fine..... but my goals, I want my money protected and off shore.

Of course, I may be looking too deep into things, but hey..... why not.

I'll keep a 'slush fund' account with IBFX probably ?

we'll see...... just thinkin aloud sometimes.
Very good points. Thank you.
  • #1,698
  • Feb 19, 2008 8:48am Feb 19, 2008 8:48am
Quoting ultimate
Kujo,
You mentioned that your goal is trading daily charts with a standard account. I was just wondering why the standard account (100:1) when a mini (200:1) gives you more leverage. It is a game of percentages.
I trade with FXCM, are minis limited to holding a certain balance limit?
What are your thoughts?

Thanks!
Why would you even trade with that much of a leverage? 1 lot is always 1 lot, higher leverage just means that you have a lower margin requirement.
The used leverage always depends on your used margin and your account balance or so and when you keep your risk at let's say always 5% the used leverage is always the same.
  • #1,699
  • Feb 19, 2008 9:12am Feb 19, 2008 9:12am
Quoting SimonJ
Why would you even trade with that much of a leverage? 1 lot is always 1 lot, higher leverage just means that you have a lower margin requirement.
The used leverage always depends on your used margin and your account balance or so and when you keep your risk at let's say always 5% the used leverage is always the same.
Yup, it all depends how much your risk is. If you have good money management with a good trading strategy, you won't need a high margin account, 100:1 on a standard account is more than enough. I don't see the point of having high margin accounts, unless you like to take drawdowns as one of your strategy for your trades, using no stop lost, or a high pip count stop lost for very long term trades.

P.S. Yay!! 100th post!
  • #1,700
  • Feb 19, 2008 9:19am Feb 19, 2008 9:19am
Yay 1700 post
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