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Nomoretoxic's breakout

  • #21
  • Sep 16, 2008 9:18am Sep 16, 2008 9:18am
Quoting nomoretoxic
I use London session. My box is from 1:30 AM EST to 3:30 AM EST.. not a hard and fast rule. You can play around with it.

NY session, I use 7:00AM EST to 9:00 AM EST

Can I assume you meant EDT and not EST?
  • #22
  • Sep 16, 2008 9:22am Sep 16, 2008 9:22am
I am sitting here watching NY session

no trades so far

it's very important to see what's happening inside the box

the market has bounced both sides of the box. Now seems like is coming back to the south side.

You just sit on your hands and have a cup of coffee or something. Let this baby come to you.

Don't make the big mistake of having a bias(long of short) or look at the trend...as you see, the London session trend has become irrelevant.

We don't know what's going to happen next...maybe we're in a range due FMOC announcement.......I sincerely don't know

you know....I don't care either.

Play your game...stay focus

If you lose...deal with it...if you win, close your charts and wait for tomorrow.

trading is emotionless...is just a job you do
Attached Image (click to enlarge)
Click to Enlarge Name: possible trade.gif Size: 17 KB
  • #23
  • Sep 16, 2008 9:45am Sep 16, 2008 9:45am
Bobcat2,

Yes, here in NY we are still on Daylight Savings Time - therefore- EDT.
  • #24
  • Sep 16, 2008 10:03am Sep 16, 2008 10:03am
Picture perfect break out, retrace and price continuation. Out with positive pips on the Euro and GBP this morning. You Da Man NoMo!
  • #25
  • Sep 16, 2008 10:09am Sep 16, 2008 10:09am
I don't know about you guys, but this is 20 pips in my book......unless I am wrong please don't hesitate to correct me!!



there's you have

Moving averages used = 0

oscillators used = 0

how many time frames = 1

how many guppy's used = 0

how many correlations used = 0

bollinger bands - none

pivot points - 0

welcome to stress-free trading


cheers
Attached Image (click to enlarge)
Click to Enlarge Name: 20 pips.gif Size: 20 KB
  • #26
  • Sep 16, 2008 10:32am Sep 16, 2008 10:32am
Nomoretoxic,

Man, I'll tell you, I couldn't agree more with you. I've finally removed everything off my charts enabling me to finally see just what the hell is going on. You're 100% correct - stress free trading. Thanks
  • #27
  • Sep 16, 2008 10:34am Sep 16, 2008 10:34am
hi nomoretoxic!

20 pips on gbpusd! thank you!

but stopped out on eurusd. did I have my stop in the right place ?

entry at 38, stop at 58 at top of candle with arrow at 10:35 EDT.

thanks a million,

Alexandra
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd -2.gif Size: 20 KB
  • #28
  • Sep 16, 2008 10:45am Sep 16, 2008 10:45am
Quoting nomoretoxic
GPB-USD 9/16/2006

Notice the false breakout.

the rest is pretty much self -explanatory
Hi nomo, Indeed self explanatory. Pls keep it up and more of such chart. Thanks. Nerry.
  • #29
  • Sep 16, 2008 10:58am Sep 16, 2008 10:58am
Quoting pipping
hi nomoretoxic!

20 pips on gbpusd! thank you!

but stopped out on eurusd. did I have my stop in the right place ?

entry at 38, stop at 58 at top of candle with arrow at 10:35 EDT.

thanks a million,

Alexandra

ouch Alex!!!!! I really don't know


Try this indicator to see if it works for you better

Man, I havent' look at EUR/USD today

I am going to check it's charts to se what happened

brb
Attached File(s)
File Type: ex4 ant-GUBreakout_V[1].0.3.ex4   9 KB | 684 downloads
  • #30
  • Sep 16, 2008 11:05am Sep 16, 2008 11:05am
Quoting pipping
hi nomoretoxic!

20 pips on gbpusd! thank you!

but stopped out on eurusd. did I have my stop in the right place ?

entry at 38, stop at 58 at top of candle with arrow at 10:35 EDT.

thanks a million,

Alexandra

Alex

here you go


look at the charts
Attached Image (click to enlarge)
Click to Enlarge Name: euro.gif Size: 26 KB
  • #31
  • Sep 16, 2008 11:12am Sep 16, 2008 11:12am
Guys

you don't have to trade many pairs......


Take one you like and go for it

I like cable, but Euro is fine!!!


believe it or not sometimes I go like "minnie minnie mo" stuff...between euro and cable...Aussie is good...swissy is good too.....

seriously don't laugh at me please!!!!! (I am laughing at myself here LOL)


The least I like is the yen.
  • #32
  • Sep 16, 2008 12:26pm Sep 16, 2008 12:26pm
Hi Nomo,

Thanks for sharing your method

How many pips after a 2nd breakout do you take your position on the cable. My spread is 4 pips with IBFX, would you do 9 pips above break out (5pips + 4 pip spread) ?

thx
It's NOT GAMBLING when the odds are in your favor
  • #33
  • Sep 16, 2008 12:31pm Sep 16, 2008 12:31pm
Quoting User Name
Hi Nomo,

Thanks for sharing your method

How many pips after a 2nd breakout do you take your position on the cable. My spread is 4 pips with IBFX, would you do 9 pips above break out (5pips + 4 pip spread) ?

thx
about taking profit, that's pretty much up to the trader.

I am happy with 20 pips a day...sometimes I make more but that's pretty much discretionary.
  • #34
  • Sep 16, 2008 12:36pm Sep 16, 2008 12:36pm
Quoting thestellaman
hi nomoretoxic......as you can see from my post count i dont usually post a lot.....but like lurking about........but when i read your thread i was well.....shocked and stunned ......... i ALSO use more or less the same breakout method to gather up some pips on a daily basis.

I think the only difference is that you trade the U.S open and i trade the U.K open........therefore i use the asia high and low as my breakout......and use fibo levels as my targets.

have posted a pict of my charts below
I trade London session, sometimes I trade NY but very seldom


Doesn't matter how you use the box...the idea is to be able to mark periods of consolidation and to be in line when the breakout occurs

not a hard and fast rule.

welcome to the club!!!


cheers
  • #35
  • Sep 16, 2008 12:51pm Sep 16, 2008 12:51pm
Quoting nomoretoxic
about taking profit, that's pretty much up to the trader.

I am happy with 20 pips a day...sometimes I make more but that's pretty much discretionary.
sorry, I worded my question wrong. After the second breakout occurs, when do you enter ? how many pips above the first breakout do you place your position ? (also please let me know if that number of pips includes your spread)

thx
It's NOT GAMBLING when the odds are in your favor
  • #36
  • Sep 16, 2008 12:56pm Sep 16, 2008 12:56pm
Quoting User Name
sorry, I worded my question wrong. After the second breakout occurs, when do you enter ? how many pips above the first breakout do you place your position ? (also please let me know if that number of pips includes your spread)

thx

about 2-3 pips

no, I don't include the spread

I use Oanda for entry - fairly low spread

cheers
  • #37
  • Sep 16, 2008 1:02pm Sep 16, 2008 1:02pm
thanks for the quick response
It's NOT GAMBLING when the odds are in your favor
  • #38
  • Sep 16, 2008 1:09pm Sep 16, 2008 1:09pm
Hi NMT,

Just wanted to say a big thank you for starting this new thread and sharing your trading style. I hope we all will remain focussed and keep the thread updated in a positive manner
  • #39
  • Sep 16, 2008 1:34pm Sep 16, 2008 1:34pm
Quoting cheelu
Hi NMT,

Just wanted to say a big thank you for starting this new thread and sharing your trading style. I hope we all will remain focussed and keep the thread updated in a positive manner

you welcome!
  • #40
  • Sep 16, 2008 2:18pm Sep 16, 2008 2:18pm
on that eurusd I did have my stop in the wrong place.

got it now....



alex
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