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Diary of a Mad Surfer

  • #521
  • May 14, 2008 4:06am May 14, 2008 4:06am
Quoting MPP
Make sense, i was planning on adding at the 200 also.
Looks like me may go back down to retest the 100 (daily)
Just Trade It
  • #522
  • May 14, 2008 8:29am May 14, 2008 8:29am
Thanks for the info. BWR I have been working with your system for some time and its helpfull to see your posts. thanks again George.
Quoting Big Wave Rider
Looks like me may go back down to retest the 100 (daily)
  • #523
  • May 14, 2008 12:07pm May 14, 2008 12:07pm
Quoting George B.
Thanks for the info. BWR I have been working with your system for some time and its helpfull to see your posts. thanks again George.
Really? Thanks. When I look at my posts I say to myself "WTF was I thinking?"

Don't mind post 511, I was experimenting with fibs on monthly, weekly and the last waves. (too many) I found it to be a bit confusing with too many lines of support and resistance. I think one fib on the daily is really all you need with the ema's. But I like to look at all possibilities. My favorite charts are still naked and with the ema's. Fibo fans (for long term channels) and one fibo. Sometimes I over analyze, Then go back to keeping it simple. I'm much more successful when I keep it simple and try not to think too much.
Just Trade It
  • #524
  • May 21, 2008 10:04am May 21, 2008 10:04am
I sent an email notifiying you guys (MPP, ASH) of this trade (possible long term) Dollar looms in face of oil spike. USDCHF All higher TF price is below 200, 100 and 13. Here on the daily it broke from the 100 (consider it a cross) It was a good short, wait for retrace to add more.
Attached Image (click to enlarge)
Click to Enlarge Name: charts.gif Size: 20 KB
Just Trade It
  • #525
  • May 21, 2008 10:08am May 21, 2008 10:08am
E.U daily.

The price bounced off of the 100 and the long fib level. Now if you draw a fib from this last retrace we are already in the long levels from that fib. it will be interesting to see if this daily candle closes above that level
Attached Image (click to enlarge)
Click to Enlarge Name: charts.gif Size: 21 KB
Just Trade It
  • #526
  • May 21, 2008 10:09am May 21, 2008 10:09am
Quoting Big Wave Rider
E.U daily.

The price bounced off of the 100 and the long fib level. Now if you draw a fib from this last retrace we are already in the long levels from that fib. it will be interesting to see if this daily candle closes above that level

Here is what I'm talking about
Attached Image (click to enlarge)
Click to Enlarge Name: charts.gif Size: 22 KB
Just Trade It
  • #527
  • May 21, 2008 4:18pm May 21, 2008 4:18pm
Quoting Big Wave Rider
Here is what I'm talking about
I took my first live trade using your method on the Eur/Usd at 1.5513. I have been out of range of internet since placing trade and setting stops, made me a little nervous but came back to civilization to find a nice surprise thanks for the posts George B
  • #528
  • May 22, 2008 12:57am May 22, 2008 12:57am
Quoting George B.
I took my first live trade using your method on the Eur/Usd at 1.5513. I have been out of range of internet since placing trade and setting stops, made me a little nervous but came back to civilization to find a nice surprise thanks for the posts George B

Your welcome. My advice to you is to stick with one pair and learn how to trade that before moving on to other pairs. Watch, but don't trade USDCHF. most of the time the moves happen there first and E.U follows it like a shadow. When this happens you can lower your risk on entering a trade in E.U.
Just Trade It
  • #529
  • May 22, 2008 1:02am May 22, 2008 1:02am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Big Wave Rider
I sent an email notifiying you guys (MPP, ASH) of this trade (possible long term) Dollar looms in face of oil spike. USDCHF All higher TF price is below 200, 100 and 13. Here on the daily it broke from the 100 (consider it a cross) It was a good short, wait for retrace to add more.

looking good today, so how are you entering your trades these days, are you placing a sell order at the short line or waiting for the candle to penitrate the short line and then entering on retracment to try for a better price?

second option is my prefered way
  • #530
  • May 22, 2008 1:23am May 22, 2008 1:23am
Quoting MPP
looking good today, so how are you entering your trades these days, are you placing a sell order at the short line or waiting for the candle to penitrate the short line and then entering on retracment to try for a better price?

second option is my prefered way
Mine too.

I went back to trading off of the daily because I'm too busy to intraday trade. So now I'm position trading. Based off of month, weekly charts and candles I go no lower than the 4hr. But like I said its mostly the daily as that is where the momentum or trends are. So here is how I enter. Fibos only give me an idea of which is the most likely (based off of %) direction for price to continue. Because my fibs are on the daily or weekly waves there can be 200-300 pips between Pivot and Long for example, but then look to take profit at a failure to break above the long level (candle close and open) daily wicks don't count. Plus when price has established itself across the 13. using the typical rules with 100 and 200. If I miss a movement then I go to the 4hr. draw a temp. fib on the retracement and wait for it to cross the 4hr 13 and at least the pivot into the long levels. Also wait for breakouts when it ranges like it did on the UDSCHF daily. Price action also dictates if I get in or not. I don't trade on a doji. My stop loss is over 100 pips so I dont get knocked out by noise which is what I was trading (jan-march) and I don't miss it.
Just Trade It
  • #531
  • May 22, 2008 1:24am May 22, 2008 1:24am
Quoting Big Wave Rider
Your welcome. My advice to you is to stick with one pair and learn how to trade that before moving on to other pairs. Watch, but don't trade USDCHF. most of the time the moves happen there first and E.U follows it like a shadow. When this happens you can lower your risk on entering a trade in E.U.
Thanks for the heads up. I always thought that the Swissy follows EU. I'll start paying more attention.
Humble Lifetime Member
  • #532
  • May 22, 2008 1:27am May 22, 2008 1:27am
Quoting Big Wave Rider
Mine too.

I went back to trading off of the daily because I'm too busy to intraday trade. So now I'm position trading. Based off of month, weekly charts and candles I go no lower than the 4hr. But like I said its mostly the daily as that is where the momentum or trends are. So here is how I enter. Fibos only give me an idea of which is the most likely (based off of %) direction for price to continue. Because my fibs are on the daily or weekly waves there can be 200-300 pips between Pivot and Long for example, but then look to take profit at a failure to break above the long level (candle close and open) daily wicks don't count. Plus when price has established itself across the 13. using the typical rules with 100 and 200. If I miss a movement then I go to the 4hr. draw a temp. fib on the retracement and wait for it to cross the 4hr 13 and at least the pivot into the long levels. Also wait for breakouts when it ranges like it did on the UDSCHF daily. Price action also dictates if I get in or not. I don't trade on a doji. My stop loss is over 100 pips so I dont get knocked out by noise which is what I was trading (jan-march) and I don't miss it.
I agree, the past few months have been crazy. I've also gone back to trading off the daily, less noise = less stress.
Humble Lifetime Member
  • #533
  • May 22, 2008 1:31am May 22, 2008 1:31am
I Forgot to metion I've done away with the 8 EMA just to clean up the charts a bit. Plus it gets you in and out with more pips IMO. But you have to look at the candles. Don't trade if its only a doji or a hammer or even a small candle that breaks over the 13, look for a full bodied candle that shows direction. Then trade the next candle or next day. set a 100+ pip stop. and go enjoy life.
Just Trade It
  • #534
  • May 22, 2008 1:35am May 22, 2008 1:35am
Quoting Ash
I agree, the past few months have been crazy. I've also gone back to trading off the daily, less noise = less stress.

Nice to see you again. Yeah I had good weeks and bad weeks trading the 1hr or less, but over all wasn't making any money. (due to the volitile sub prime shit) I think we are going back to trends (for now) I have only made a few trades in the last 6 weeks when trading on the daily but they have all been winners. Long term I am still bullish on the dollar but we wont see that until next year IMO.
Just Trade It
  • #535
  • May 22, 2008 1:47am May 22, 2008 1:47am
Quoting Big Wave Rider
Nice to see you again. Yeah I had good weeks and bad weeks trading the 1hr or less, but over all wasn't making any money. (due to the volitile sub prime shit) I think we are going back to trends (for now) I have only made a few trades in the last 6 weeks when trading on the daily but they have all been winners. Long term I am still bullish on the dollar but we wont see that until next year IMO.
Thanks and nice to see you back. After trading the intra-day crap, I thought about it long and hard, I don't need the stress. Trading off the Higher TF's is more rewarding and less stressful. I was sitting in front of the computer 12-14 hours a day and for what? 50-150 pips, sometimes more and sometimes less. Don't need that. We all need to enjoy life while making money. What good is all the money in the world if an individual doesn't have their health. That's how I see it.
Humble Lifetime Member
  • #536
  • Edited 12:50pm May 22, 2008 12:48pm | Edited 12:50pm
Hey BWR! Any comments on the Dollar Index Daily and Weekly Charts? Much Appreciated! I didn't bother posting a monthly because it is in clear bear territory.
Attached Image(s) (click to enlarge)
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Humble Lifetime Member
  • #537
  • May 23, 2008 1:35am May 23, 2008 1:35am
Quoting Ash
Hey BWR! Any comments on the Dollar Index Daily and Weekly Charts? Much Appreciated! I didn't bother posting a monthly because it is in clear bear territory.

It looks like a good short all signals are there. However I would move you fibs up to the new high since it has reached the target and then retraced down to the pivot area and found support there. (make a note of that when you move your fib) And you can always move it back for reference if it's based off of the monthly candle or bar in your case.
Just Trade It
  • #538
  • May 23, 2008 1:54am May 23, 2008 1:54am
Quoting Big Wave Rider
It looks like a good short all signals are there. However I would move you fibs up to the new high since it has reached the target and then retraced down to the pivot area and found support there. (make a note of that when you move your fib) And you can always move it back for reference if it's based off of the monthly candle or bar in your case.
Thanks. I've been using Bobokus Daily Fibo. It seems almost uncanny, dead accurate. What are your thoughts or would you recommend something else?
Humble Lifetime Member
  • #539
  • May 23, 2008 1:58am May 23, 2008 1:58am
[quote=Ash;2016582]Thanks. I've been using Bobokus Daily Fibo. It seems almost uncanny, dead accurate. What are your thoughts or would you recommend something else?[/quote]


No.

I like the ema's and the fib. They work together pretty well. The fibs work on any TF. The higher the better.
Just Trade It
  • #540
  • May 23, 2008 2:23am May 23, 2008 2:23am
[quote=Big Wave Rider;2016592]
Quoting Ash
Thanks. I've been using Bobokus Daily Fibo. It seems almost uncanny, dead accurate. What are your thoughts or would you recommend something else?[/quote]


No.

I like the ema's and the fib. They work together pretty well. The fibs work on any TF. The higher the better.
Thanks, wanted to make sure. I've been working on something else. Still testing and if any breakthrough's, I'll keep you informed.
Humble Lifetime Member
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