Hi jdcompute, Could you post your chart pls, and share with us where is yr entries and exists. Kindly keep on posting the charts with comments, this definitely be helpful to the newbie here, at least for me. Thanks in advanced. rey
Does anyone know what moved the yen pairs so much today? I've taken in 200+ pips alone on eurjpy and another 150+ on audjpy. I'm curious because I don't see anything on the news calendar.
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I did not watch the yen pairs closely today, but having seen this in the past I assume that it is the carry trade realigning itself across the markets. Since the 6th of August the G/U has dropped 2500 pips. With talk of the Sterling cutting its rate the carry trade is cash out.
Hi jdcompute, Could you post your chart pls, and share with us where is yr entries and exists. Kindly keep on posting the charts with comments, this definitely be helpful to the newbie here, at least for me. Thanks in advanced. rey
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I will do so as often as I can and as time permits.
I did not watch the yen pairs closely today, but having seen this in the past I assume that it is the carry trade realigning itself across the markets. Since the 6th of August the G/U has dropped 2500 pips. With talk of the Sterling cutting its rate the carry trade is cash out.
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I'll have to read up a little more about the carry trades since that's something I know very little about. Also, I wanted to ask you if you trade for a living? I'm working my way towards trading for a living. I have a 12-18 month timeframe for myself right now. Been at this for a little over a year now.
I'll have to read up a little more about the carry trades since that's something I know very little about. Also, I wanted to ask you if you trade for a living? I'm working my way towards trading for a living. I have a 12-18 month timeframe for myself right now. Been at this for a little over a year now.
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Hi JD
no i don't trade for a living - yet. however, i have found Spud's MTF Stoch methods to be the most profitable for me. I know of other traders who use entirely different methods and indicators successfully, yet this gives me a handle on price and market momentum better than anything I've discovered yet. The main reason I am not trading with sustainable cash flow yet is capitalization. I am slowly building up. It takes alot of patience to grow so you have a smooth equity curve. I HATE drawdowns.
I'm with you on that. I have found the MTF approach to be the most reliable and profitable for me. As far the drawdowns, I hate them as well. On the 15m charts, I don't go more than -15 or -20 before I call it quits on a trade.
I am a 14,3,3 kind of guy, I would rather wait just a bit for the confirmation. I typically trade only the 1hr and the 5min (if nothing exciting is going on the 1hr), and I trade typically when only when the 30 and the 1hr are very close together, I mean like makin love close. I don't pay too much attention to the 4hr and daily except that if they all agree I increase my # of lots and hang on. You can knock out hella pips this way.
Alright guys..I've been making a lot of pips lately using the MTF strategy. Here is a potential setup right before the London open. I'm looking for a possible rubberband trade with the 15m trading back into the rest of the stochs.
3 minutes until the next candle close and it looks like things are setting up for a rubberband trade back into the other stochs. I'm not sure if I'll target more than 10 quick pips since it's right up against a resistance line.
I grabbed an easy +45 pips off of that trade. It'll probably go up a bit more but I'm tired..it's 2:17AM Dallas time over here and I'm ready to turn in.
I grabbed an easy +45 pips off of that trade. It'll probably go up a bit more but I'm tired..it's 2:17AM Dallas time over here and I'm ready to turn in.
EURUSD looks poised to make a further move up as there is some divergence that's showing on the daily timeframes. More bad economic news from the U.S. will just further fuel it. Everyone keep an eye out for long positions..
I normally don't trade on Sunday nights but I couldn't resist this one. Grabbed a quick +30 pips on this one. I took the trade at the lime green vertical line.
jdcompute, do you trade exclusively on the 15M TF? If so, do you go down to the 5M or 1M to fine-tune your entries or do you stick with purely the 15M chart?
I find the 15M extremely tradeable on great trending days like last Friday, but on choppier days like today moves seem to be almost over by the time the 15M chart provides a signal
I trade from the 15-minute chart alone. From time to time, I'll go down to the 5-minute chart to time an entry once I get a signal from the 15-minute chart though. Actually, I make pips off this system day in and day out.
I trade from the 15-minute chart alone. From time to time, I'll go down to the 5-minute chart to time an entry once I get a signal from the 15-minute chart though. Actually, I make pips off this system day in and day out.
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Do you find the system still effective in a trading range?
I can see how effective the system would be during strong trends, of course it's impossible to know you're in a trend until it's at least partly formed.
How do you find the system performs when you think a trend is underway but it merely turns out to be the top or bottom of a trading range?
I see the 4hr starting to fall and the 15m has pulled away a good bit from the rest. I'm betting that this will be a trade back down in an hour or so. I'll keep my eyes on it.
I find it works pretty well when I'm trading. I pay close attention to pivots/support/resistance. No matter what opinions you get, pivots are real, support and resistance lines are very real. As for the range, as long as there's a wide enough range, I trade it. I just make sure I'm on the right side of the wave (up or down) when it's moving.
Do you find the system still effective in a trading range?
I can see how effective the system would be during strong trends, of course it's impossible to know you're in a trend until it's at least partly formed.
How do you find the system performs when you think a trend is underway but it merely turns out to be the top or bottom of a trading range?
