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  • #201
  • Apr 21, 2008 7:57pm Apr 21, 2008 7:57pm
Quoting zoopy
I'm eager to see how well you do on that cable buy at 1.9800 lol. My Oanda is showing me that you're 22 pips in profit already!
Well I canceled that order at the last second for another entry. I just did not update my journal to reflect. Looks like I'm missing out so far. I just thought that 1.9730 was a realistic and safer entry for that long.
  • #202
  • Apr 21, 2008 8:04pm Apr 21, 2008 8:04pm
Quoting KissFan
Well I canceled that order at the last second for another entry. I just did not update my journal to reflect. Looks like I'm missing out so far. I just thought that 1.9730 was a realistic and safer entry for that long.
Damn... that would have been a good trade. Actually... still not too late to enter since you're still far from the close of the last bar. Remember that was a weekly setup. Doesn't mean it will work either though but still looks good to me
  • #203
  • Apr 21, 2008 9:51pm Apr 21, 2008 9:51pm
Quoting zoopy
Damn... that would have been a good trade. Actually... still not too late to enter since you're still far from the close of the last bar. Remember that was a weekly setup. Doesn't mean it will work either though but still looks good to me
Here is why I changed my long entry. I kinda figured that the blue dotted support come into play after the BEOB. What are your thoughts on my rationale?
Attached Image (click to enlarge)
Click to Enlarge Name: Chart7.GIF Size: 52 KB
  • #204
  • Apr 21, 2008 9:59pm Apr 21, 2008 9:59pm
My rationale for the eur/aud buy entry limit. Weekly chart is bearish. Monthly is bullish. I thought that a buy just below support would be a low risk trade if executed. Order-Buy Entry Limit 1.6794
Attached Image (click to enlarge)
Click to Enlarge Name: Chart20.GIF Size: 46 KB
  • #205
  • Apr 21, 2008 9:59pm Apr 21, 2008 9:59pm
Quoting KissFan
Here is why I changed my long entry. I kinda figured that the blue dotted support come into play after the BEOB. What are your thoughts on my rationale?
I think you have a valid point. I know Raczekfx from the J16 group mentioned and pointed out the downward trend on the weekly. However when you zoom right out you'll notice we're still in an upward trend. The move down could very well be a correction so something to keep in mind. However I'd be watching 1.9600 and 1.9300 very, very carefully. ESPECIALLY 1.9300. The reason for this is because that was the bottom of the last dip. If that low fails, this thing is going down a lot because not only would we have broken that low, but the trendline as well.
  • #206
  • Apr 21, 2008 10:11pm Apr 21, 2008 10:11pm
Quoting zoopy
I think you have a valid point. I know Raczekfx from the J16 group mentioned and pointed out the downward trend on the weekly. However when you zoom right out you'll notice we're still in an upward trend. The move down could very well be a correction so something to keep in mind. However I'd be watching 1.9600 and 1.9300 very, very carefully. ESPECIALLY 1.9300. The reason for this is because that was the bottom of the last dip. If that low fails, this thing is going down a lot because not only would we have broken that low, but the trendline as well.
This one almost needs to be played bar by bar. The monthly looks as indecisive as my wife in a clothing store.
  • #207
  • Apr 21, 2008 10:12pm Apr 21, 2008 10:12pm
Quoting KissFan
My rationale for the eur/aud buy entry limit. Weekly chart is bearish. Monthly is bullish. I thought that a buy just below support would be a low risk trade if executed. Order-Buy Entry Limit 1.6794
How did you end up with your analysis on euraud? ie. How did you end up with weekly bearish and monthly bullish? Now I remember why I stopped trading this pair... lol. It looks like a nightmare when you zoom out. This may sound stupid but I don't even know where to draw my trendlines for this pair
  • #208
  • Apr 21, 2008 10:14pm Apr 21, 2008 10:14pm
Quoting KissFan
This one almost needs to be played bar by bar. The monthly looks as indecisive as my wife in a clothing store.
lol.
  • #209
  • Apr 21, 2008 10:21pm Apr 21, 2008 10:21pm
Quoting zoopy
How did you end up with your analysis on euraud? ie. How did you end up with weekly bearish and monthly bullish? Now I remember why I stopped trading this pair... lol. It looks like a nightmare when you zoom out. This may sound stupid but I don't even know where to draw my trendlines for this pair
OK Zoop, thanks for asking me the hard questions. I keep saying that my reading of PA is lacking and I really do study diligently. But it takes work for me. Here goes my weekly chart. What I see is PA in a downtrend from the week of 4.4.2008. Nothing so far tells me that we are due for a turnaround EXCEPT maybe the support at 1.6800. Where do you disagree or differ? Your take is very valuable info to me. By the way, the whole daily chart in my screen is trading in a wide range. There is no overall trend IMHO.
Attached Image (click to enlarge)
Click to Enlarge Name: Chart21.GIF Size: 77 KB
  • #210
  • Apr 21, 2008 10:31pm Apr 21, 2008 10:31pm
This is somewhat of a stretch but this pair acts kind of strange. However if you look back at my journal, I've had some really good results trading EUR/AUD. Pin(ISH) bar for Feb and confirmation in March. 1.6800 is acting as very solid support. I call this bullish especially with price at or near 1.6800.
Attached Image (click to enlarge)
Click to Enlarge Name: Chart22.GIF Size: 52 KB
  • #211
  • Apr 21, 2008 10:34pm Apr 21, 2008 10:34pm
Quoting KissFan
OK Zoop, thanks for asking me the hard questions. I keep saying that my reading of PA is lacking and I really do study diligently. But it takes work for me. Here goes my weekly chart. What I see is PA in a downtrend from the week of 4.4.2008. Nothing so far tells me that we are due for a turnaround EXCEPT maybe the support at 1.6800. Where do you disagree or differ? Your take is very valuable info to me. By the way, the whole daily chart in my screen is trading in a wide range. There is no overall trend IMHO.
Ok, I have to say this (btw, this isn't mean't to be offensive in any way, I just find it funny lol)... how on earth do you trade like that? A few posts back when you first started posting charts, I actually thought you were joking by showing all the lines but I'm finding out now that's actually how you trade lol.

If you find you're struggling to make decisions, that may be the reason why. All jokes aside, I had to use a line chart on the euraud weekly just to see what was going on. I feel like I'm looking at the 30 min chart or something but on a bigger timeframe with that pair.
Attached Image (click to enlarge)
Click to Enlarge Name: euraud_weekly_linechart.gif Size: 13 KB
  • #212
  • Apr 21, 2008 10:43pm Apr 21, 2008 10:43pm
Quoting zoopy
Ok, I have to say this (btw, this isn't mean't to be offensive in any way, I just find it funny lol)... how on earth do you trade like that? A few posts back when you first started posting charts, I actually thought you were joking by showing all the lines but I'm finding out now that's actually how you trade lol.

If you find you're struggling to make decisions, that may be the reason why. All jokes aside, I had to use a line chart on the euraud weekly just to see what was going on. I feel like I'm looking at the 30 min chart or something but on a bigger timeframe with that pair.
Dude! I thought you'd never ask! Really and truly if you look at my charts there are very few indicators but trendlines will often tell me where there is no resistance or bounderies to price moving freely. So what I will tell you is that I feel that where trendlines "are not" sometimes is as important as where they "are". They really do help me find entries as I stink at entry. But I'm getting better with a better understanding of PA!
  • #213
  • Apr 21, 2008 10:46pm Apr 21, 2008 10:46pm
Keep in mind that most of the trendlines that are on my chart mean nothing really. UNTIL price moves in their area of influence. That's why I leave them on the chart. They don't bother me a bit. Of course nothing does when I get to slice off a piece of the pip pie! Yup! I'm strung out on trendlines!
  • #214
  • Apr 21, 2008 10:52pm Apr 21, 2008 10:52pm
Quoting KissFan
Dude! I thought you'd never ask! Really and truly if you look at my charts there are very few indicators but trendlines will often tell me where there is no resistance or bounderies to price moving freely. So what I will tell you is that I feel that where trendlines "are not" sometimes is as important as where they "are". They really do help me find entries as I stink at entry. But I'm getting better with a better understanding of PA!
Judging from your results, maybe I should start putting trendlines all over too lol.

I only really use maybe 2 trendlines at the most and maybe on occasion a support line if I'm looking to buy but that's pretty much it. What I find often is when I have too many lines it confuses me more than anything. I figured if I can get away with one line I'll do it. Besides, having more trendlines to determine a direction still won't make the trade go your way. What's worse is when it doesn't so you draw more lines and eventually end up with a blueprint to build the Eiffel Tower.
  • #215
  • Apr 21, 2008 10:55pm Apr 21, 2008 10:55pm
Quoting zoopy
Judging from your results, maybe I should start putting trendlines all over too lol.

I only really use maybe 2 trendlines at the most and maybe on occasion a support line if I'm looking to buy but that's pretty much it. What I find often is when I have too many lines it confuses me more than anything. I figured if I can get away with one line I'll do it. Besides, having more trendlines to determine a direction still won't make the trade go your way. What's worse is when it doesn't so you draw more lines and eventually end up with a blueprint to build the Eiffel Tower.


Just draw them thicker and make sure they are not dotted. I find that when I do that, the price just bounces back and forth between them and I just range trade the pair with no money management!
  • #216
  • Apr 21, 2008 10:57pm Apr 21, 2008 10:57pm
Quoting KissFan


Just draw them thicker and make sure they are not dotted. I find that when I do that, the price just bounces back and forth between them and I just range trade the pair with no money management!
haha. Yah, you don't want price to slip through the dotted lines, that's why we need a nice thick line to make sure there's no way
  • #217
  • Apr 21, 2008 10:57pm Apr 21, 2008 10:57pm
I need to go to bed. Thanks for your very informative take on trading. I hope you learned something from me as I owe you much.
  • #218
  • Apr 22, 2008 6:23pm Apr 22, 2008 6:23pm
Quoting KissFan
I need to go to bed. Thanks for your very informative take on trading. I hope you learned something from me as I owe you much.
Yes, I learn't that I should use thick trendlines instead of dotted ones and I should also follow some of my own advice. I sooo should have taken that cable trade!!! Look at how much it went up.
  • #219
  • Edited Apr 23, 2008 11:24am Apr 22, 2008 7:59pm | Edited Apr 23, 2008 11:24am
Intraday Style#2 Trades -----------------------+4834 Pips Since 03.06.2008
***Despite my off day trading yesterday, I really believe that I'll make some pips today. I need to closely monitor the trades I'm in (especially GBP/JPY short) and that's not easy with work really busy as of late. I'm taking my laptop with me today.*****
04.15.2008 AUD/JPY Entry Limit
AUD/JPY Entry Limit
AUD/JPY Entry Limit
04.12.2008 AUD/NZD S 1.1735
AUD/NZD Entry Limit
AUD/NZD Entry Limit
04.21.2008 AUD/USD Buy Entry Limit .9422
AUD/USD Entry Limit
AUD/USD Entry Limit
04.21.2008 CAD/JPY Buy Entry Limit 100.80
CAD/JPY Entry Limit
CAD/JPY Entry Limit
04.09.2008 CHF/JPY Entry Limit
CHF/JPY Entry Limit
CHF/JPY Entry Limit
04.22.2008 EUR/AUD L 1.6794 Closed -26 Pips (Missed opportunity on this one, then tried to chase down the opportunity to make $. Absolutely against my nature and way of trading.)
EUR/AUD Entry Limit
EUR/AUD Entry Limit
04.22.2008 EUR/CAD Buy Entry Limit 1.6016
04.18.2008 EUR/CAD
EUR/CAD Entry Limit
04.16.2008 EUR/CHF S 1.5969
EUR/CHF Entry Limit
EUR/CHF Entry Limit
03.31.2008 EUR/GBP Entry Limit
EUR/GBP Entry Limit
EUR/GBP Entry Limit
04.15.2008 EUR/JPY S 161.71
EUR/JPY Entry Limit
EUR/JPY Entry Limit
04.17.2008 EUR/USD
04.22.2008 EUR/USD Buy Entry Limit 1.5850
EUR/USD Entry Limit
04.22.2008 GBP/CHF S 2.0119
GBP/CHF Entry Limit
GBP/CHF Entry Limit
04.22.2008 GBP/JPY Sell Entry Limit 205.55
GBP/JPY Entry Limit
GBP/JPY Entry Limit
04.22.2008 GBP/USD Sell Entry Limit 2.0003
04.18.2008 GBP/USD
04.20.2008 GBP/USD
04.22.2008 NZD/USD Entry Limit .7949
NZD/USD Entry Limit
NZD/USD Entry Limit
04.21.2008 USD/CAD S 1.0126
USD/CAD Entry Limit
USD/CAD Entry Limit
04.21.2008 USD/CHF S 1.0085
USD/CHF Entry Limit
USD/CHF Entry Limit
04.22.2008 USD/JPY S 103.29
USD/JPY Entry Limit
USD/JPY Entry Limit

Gain on Investment(s) Since 03.06.2008... +59.88%
  • #220
  • Apr 22, 2008 8:01pm Apr 22, 2008 8:01pm
Quoting zoopy
Yes, I learn't that I should use thick trendlines instead of dotted ones and I should also follow some of my own advice. I sooo should have taken that cable trade!!! Look at how much it went up.
Yup! Today is the first time in a long time that I have not pip'd. Could have done some damage if I did'nt change that trade. Also my EURAUD trade came within 1 pip of executing.
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