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  • #2,401
  • Jun 20, 2008 5:16am Jun 20, 2008 5:16am
I got in short on the 30m IB at 1.0393, have my stop at breakeven now...have also got my stop at breakeven on usdjpy - youre right Jarroo it pulled back already quite a lot so if it goes back again Im out Love these little faces haha
Never say never.
  • #2,402
  • Jun 20, 2008 5:18am Jun 20, 2008 5:18am
Quoting candyman
Lesson taught, lesson learnt. Thanks guys.
...you quickly learn how important it is to take all the small losses...you have to be in it, to win it!
  • #2,403
  • Jun 20, 2008 5:23am Jun 20, 2008 5:23am
Quoting ChowClown
Jim....out of interest, what's your preferred exit strat these days? Hope you don't mind my asking.
I like to get to the FTT (Free Trade Target) and let ride until it stops out. Or should I say "If" it stops out. I understand people want to bank some pips (I like the 3 position entry: 2/3 out at FTT and 1/3 riding). I guess I like the idea of a short term trade turning onto a longterm money maker.
Indicators show the past. Price Action "Indicates" the future.
  • #2,404
  • Jun 20, 2008 5:27am Jun 20, 2008 5:27am
Quoting jarroo
I like to get to the FTT (Free Trade Target) and let ride until it stops out. Or should I say "If" it stops out. I understand people want to bank some pips (I like the 3 position entry: 2/3 out at FTT and 1/3 riding). I guess I like the idea of a short term trade turning onto a longterm money maker.
...how do you manage the free rider interday, like your GU long from yesterday?
  • #2,405
  • Jun 20, 2008 5:29am Jun 20, 2008 5:29am
The Uchf was a textbook IB, I read a post by Dabuchi here one time on wot IB is and its type and the very good and safer ones.

I believe that the UCHF was a pull back from the bearish position to gather more momentum for south drive.

Interestingly, it also signal at 15mins.

I missed it though but it was a good thing to note and learn from and it came below 50% fib, if u fib previous day hi and lo.

I think it has more energy to go south coz it's in south tradeable zone
  • #2,406
  • Jun 20, 2008 5:29am Jun 20, 2008 5:29am
Today nice trades on GBP_USD, EUR_USD and GBP_USD but choppy range on USD_CAD and EUR_CHF....
Attached Image (click to enlarge)
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  • #2,407
  • Jun 20, 2008 5:31am Jun 20, 2008 5:31am
Quoting ChowClown
...how do you manage the free rider interday, like your GU long from yesterday?
I haven't changed anything from yesterday's trade. Except taking the half off at the FTT. But the stop loss is still in the same place.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #2,408
  • Jun 20, 2008 5:37am Jun 20, 2008 5:37am
Dear DIBS'ers I hope you are having fun! What a nice way to end this week, now we can party all weekend and come back fresh on Monday morning. Life is great when you've got DIBS.

I've had the two best days (yesterday and today) of my trading life by a mile. This system together with another I'm using one is pure magic to me.
Some day I'll share with you guys the other system, but lets make this one perfect first shall we?!

Go USD you can do it, keep falling you can do it, we are gonna party you can do it.... Sorry a little dancing here
  • #2,409
  • Jun 20, 2008 5:39am Jun 20, 2008 5:39am
Quoting jarroo
Wow. I guess the Euro and Chf are hot after all. Yen retraced back, did it stop any one out? Looks like it was close. Missed all of them today, but it feels like I didn't. (that doesn't make sense Jim).
Looks like that Jap's was not so hot as we thought.... but I got my SL placed and till now I was not wiped out... After that monster retrace I guess It's going the right side (my side ) again...

Missed the Swissy, I was sleeping.... Come on... sun shinning in Europe, but still dark night here in Brazil, and after all I had already my free ticket for today... Today I was way more tired than greedy...

Cheers!

HT
Many share my views with me. But I don't share them with them...
  • #2,410
  • Jun 20, 2008 5:40am Jun 20, 2008 5:40am
Long AU now too....yeehaa
  • #2,411
  • Jun 20, 2008 5:40am Jun 20, 2008 5:40am
Quoting NowAndLater
Dear DIBS'ers I hope you are having fun! What a nice way to end this week, now we can party all weekend and come back fresh on Monday morning. Life is great when you've got DIBS.

I've had the two best days (yesterday and today) of my trading life by a mile. This system together with another I'm using one is pure magic to me.
Some day I'll share with you guys the other system, but lets make this one perfect first shall we?!

Go USD you can do it, keep falling you can do it, we are gonna party you can do it.... Sorry a little dancing here
  • #2,412
  • Jun 20, 2008 5:43am Jun 20, 2008 5:43am
Quoting NowAndLater
Dear DIBS'ers I hope you are having fun! What a nice way to end this week, now we can party all weekend and come back fresh on Monday morning. Life is great when you've got DIBS.

I've had the two best days (yesterday and today) of my trading life by a mile. This system together with another I'm using one is pure magic to me.
Some day I'll share with you guys the other system, but lets make this one perfect first shall we?!

Go USD you can do it, keep falling you can do it, we are gonna party you can do it.... Sorry a little dancing here
It's what its all about my friend.
Indicators show the past. Price Action "Indicates" the future.
  • #2,413
  • Jun 20, 2008 5:45am Jun 20, 2008 5:45am
Quoting NowAndLater
Dear DIBS'ers I hope you are having fun! What a nice way to end this week, now we can party all weekend and come back fresh on Monday morning. Life is great when you've got DIBS.

I've had the two best days (yesterday and today) of my trading life by a mile. This system together with another I'm using one is pure magic to me.
Some day I'll share with you guys the other system, but lets make this one perfect first shall we?!

Go USD you can do it, keep falling you can do it, we are gonna party you can do it.... Sorry a little dancing here
Yeah really enjoying this NAL, thanks guys for keeping up the thread, excellent stuff! Raz
Never say never.
  • #2,414
  • Jun 20, 2008 5:48am Jun 20, 2008 5:48am
well said nal,

all hail dibs,but we must thank all u guys for ur help & patience with us newbies.

cheers & have a great weekend

andrew
Survive & Preserve
  • #2,415
  • Jun 20, 2008 5:57am Jun 20, 2008 5:57am
I'm happy for us all Together we shall break our brokers (ok not break them like that since our money is like a drop in the ocean for them)!

I have tp go now. Protected some of my profits and letting it ride. You guys have a great weekend and will see you around.
  • #2,416
  • Jun 20, 2008 5:59am Jun 20, 2008 5:59am
Quote
What is the TP? Or the FTT (Free Trade Target)
We are looking to exit half of our position at 1:1, which means that once you’re up the amount of pips which equals the amount of pips you’re risking (IB-range + 2 (1 up and 1 down for the breakout) + spread) then you close half you position. This is your FTT (Free Trade Target) If after this price comes back and takes you out, you haven’t lost anything. Do not move the SL on the remaining 1/2.

I really want to get this clear in respect to the USDJPY trade taken earlier today?


Are u saying when for instance a multiple trade is opened(whcih I do, wo multiple lot) when the first one closed at 1:1 rist to reward, the second trade should be left opened and closed based on discretion without moving the sl to break-even when the first trade closed

Just need some clarification here. am sorry for asking though, even if it sound childish, good to learn as a child too
  • #2,417
  • Jun 20, 2008 6:02am Jun 20, 2008 6:02am
Quoting jarroo
I haven't changed anything from yesterday's trade. Except taking the half off at the FTT. But the stop loss is still in the same place.
OK, you're using the 'structure' approach rather than trailing somehow. My preference too.
  • #2,418
  • Jun 20, 2008 6:03am Jun 20, 2008 6:03am
Quoting NowAndLater
Dear DIBS'ers I hope you are having fun! What a nice way to end this week, now we can party all weekend and come back fresh on Monday morning. Life is great when you've got DIBS.

I've had the two best days (yesterday and today) of my trading life by a mile. This system together with another I'm using one is pure magic to me.
Some day I'll share with you guys the other system, but lets make this one perfect first shall we?!

Go USD you can do it, keep falling you can do it, we are gonna party you can do it.... Sorry a little dancing here
Hey, brother.... I can smell that classic barbeque starting?
Many share my views with me. But I don't share them with them...
  • #2,419
  • Jun 20, 2008 6:14am Jun 20, 2008 6:14am
A big thanks goes out to Peter, Jarroo et al for helping us newbis out. This thread and the one it's come from have been an eye opener. Yes...I am one of thgose that had every possible indicator on my chart as i thought that would give me an edge...how wrong I was...and my account balance showed it!

I have a couple of questions/comments...

Firstly...I know we use the open (whatever time you consider that to be) to see if it's an up day or a down day. But, how nuch consideration do we take on weekly or even monthly open?...If day is up BUT week is down would we still consider a discretionary down trade...maybe with a smaller amount to trade? ...By the way thanks NAL for the range indicator. I look forward to trying it.

Secondly..I can see most of the guys (and gals) here are using 1hr TF, some 4hr and some cheeky ones going down to 30min to check for IB. I personally think it is worthwhile to see different TFs because if there is a strong move on 1hr...there might be an IB on 30min or even 15min...which could be valid and maybe an edge (as Peter says...use anything that gives you an edge and he knew some traders who do well with DIBS on 15 and 30 mins). SO with this in mind...is it possible to have an indicator that shows all IBs (maybe with option for both definitions as per 1st post (higher low/lower high, or not exceeding extreems of previous bar) that gives option of which TFs you want to check...15min, 30min, 1hr, 4hr, day). It's just an idea as monitoring 5 or 6 currencies on different TFs is a very daunting idea....EDIT...I think it would be classified as "MTF IB indicator"

Please don't bite my head off for this post...I'm just learning as most people here are and trying to consider ways to get this edge we all seek

Regards and thanks in advance

Bobby
  • #2,420
  • Jun 20, 2008 6:26am Jun 20, 2008 6:26am
Hello,


Well I was a bit late to enter the u/j so I went to the 15min and traded an IB @ 4:45am est... entered short per PC @ 107.79 (waited for breakout candle to close) took 2/3 profit at @ 107.67 and atm I am riding the bus with 22pips locked in already... I used PC's rules except with a little twist to my entry due to noise and I prefer to trail my stops to the last closed candle.

Good luck to all
Unus pro omnibus, omnes pro uno
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