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Thexder's journey to(ward?) freedom

  • #221
  • Sep 24, 2008 2:57pm Sep 24, 2008 2:57pm
30 minute NZD USD
After seeing a sideways period including one large bearish outside, a pin formed at the top of the range by sticking out above several bar highs next to it and it appeared if it could clear the pin downward it could make it down to one of the two support lines at the channel low.

When I was up +20 and at the bottom of the range I set for break even and now I'm seeing what happens.
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"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #222
  • Sep 25, 2008 7:29am Sep 25, 2008 7:29am
Took another bite out of NZD USD hourly. When it started reaching target areas I started tightening up the manually trailing stop until it knocked me out for profit.
I've been getting a lot of screen time sitting doing my contract work so I just have this pulled up on one of the 4 monitors and scan for the quick setups in peripheral vision on these lower time frames. I normally wouldn't catch these.
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"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #223
  • Sep 25, 2008 6:40pm Sep 25, 2008 6:40pm
This one's been giving lots of setups in the time I've had to devote to it.
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"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #224
  • Sep 25, 2008 6:57pm Sep 25, 2008 6:57pm
Good to see you still kickin, looks as if your doing well.
  • #225
  • Sep 28, 2008 2:46am Sep 28, 2008 2:46am
Quoting Bobokus
Good to see you still kickin, looks as if your doing well.
I think it's now exactly a year that I've been on here and I think I've settled into a method I can use when time allows without being tied to it. Still have a way to go to become free because I'm just taking small bites but in theory over time it should grow into something where small bites equal freedom. As long as it's a consistent hobby all it takes is time.
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #226
  • Oct 3, 2008 8:07am Oct 3, 2008 8:07am
NZD USD 1 hour quick profit to end the week.
The overall momentum has been down so I saw this as a rally and looked for bar confirmation for a short. I saw a bearish outside which ended up forming another bearish outside later on during a retracement of the first one so I took a shot at it and set a fixed target for +17. I was in & out before I knew it.
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"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #227
  • Oct 13, 2008 2:28pm Oct 13, 2008 2:28pm
Doesn't look like very much of a move but it was Daily and worth around 100 with a safe fixed easy target. I wasn't around to manage it once it was in play so I just took the fixed target. Having the full time job again keeps me on Daily and above now. I saw this pin when I got home Friday evening and I waited until Sunday to see if there were any gaps or if I could set a pending order, then I woke up and saw the profit.
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"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #228
  • Oct 15, 2008 8:40pm Oct 15, 2008 8:40pm
Lots of daily pins but I only took this one and it was business as usual.
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"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #229
  • Oct 15, 2008 9:57pm Oct 15, 2008 9:57pm
Quoting Thexder
I pulled up a chart of those 2 trading days and drew all the fibs (3) I would have pulled for Nov 5 and 6. It could be done differently looking at it now vs how I did it in the PDF due to discretion with all the choppy action, but what I did turned out mostly the same.

The grey fib shows that the pivot would have been stopped out after taking the break short, BUT this fib range is only 32 pips wide so in this case my stop would have been all the way at the swing high, and not gotten stopped out. That's where I say anything ranging less than 50 or 45 wide, I put the stop at 100% instead of 50% to start with.

The Violet fib is drawn in a jumble of ranging and choppiness, so I took the most recent high and low points that had a reasonable pip range. THis range was 35 pips and so any smaller swing would not be very much worthwhile. When the break out came, the target was easily achieved without risking the stop even if it was at pivot. Also this break out came borderline to where I'd place a trade before London opens so maybe I'd not have even taken it.

The Orange fib is taken after the Violet fib completes by reaching targets and retracing, then forming a new low to pull to. The trade bias is properly long and the target is met easily.

So the method was to pull the swing somewhere during Asia and start the day fresh and blind, taking whatever comes and if there's more opportunity after the first trade, follow around as it completes and begins again.
Sometimes when I look back at previous charts I wonder how I ever made it through a single trading session compared to the charts and results I have now.
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #230
  • Oct 21, 2008 7:59pm Oct 21, 2008 7:59pm
Daily bearish outside in a rally of a downtrend. Good time to get in short along the ride, and within the first day, big reward.

This full time day job is doing wonders for my trading, keeping me on higher time frames and only needing 30 seconds at the end of the day to look and say "nothing today" or "there it is...time to trade"
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"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #231
  • Oct 21, 2008 9:40pm Oct 21, 2008 9:40pm
Quoting Thexder
Daily bearish outside in a rally of a downtrend. Good time to get in short along the ride, and within the first day, big reward.

This full time day job is doing wonders for my trading, keeping me on higher time frames and only needing 30 seconds at the end of the day to look and say \"nothing today\" or \"there it is...time to trade\"

Its the simplest of things that work best eh ?
  • #232
  • Oct 21, 2008 11:59pm Oct 21, 2008 11:59pm
Quoting Bobokus
Its the simplest of things that work best eh ?
Always has been. And what is "simple" is always relative too. Now that I have no time to sit there constantly, "simple" is way different, but early this year, simple meant staying awake all night (because I'm a night person by nature I and had no job to wake up to) and just simply keeping an eye as each new hourly bar formed...and I was doing ok with that too. Except that one Friday I was out shoveling snow at 7am and a huge 125 pip cable drop happened and I would have been in if I were there.....

Either way, it's all a journey and learning process and compromise of information and I got where I am because of your direct help and influence upon me, you were the first mentor I identified with and learned from and adapted my own ideas from your teachings and continued to evolve and progress and figure it all out as a result.

My path began to take shape when I came here and started learning from you. I'm eternally grateful for your fib thread and your own teaching style, the way you make people feel at ease and give hope and not only convey what you know but allow people to grow while under your teaching, express their own interpretations on your work etc.

I will always refer others to you and your teachings if all they get out of it is inspiration or an actual direct plan.

btw, one of these days I'll get Skype installed...what has it been, a year as of November? I've installed windows like 4 times this year and I finally just bought a new set of hardware (including the 4 monitor setup). I'll get in touch when I finally get that stuff setup!
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #233
  • Oct 22, 2008 12:11am Oct 22, 2008 12:11am
Quoting Thexder
Always has been. And what is \"simple\" is always relative too. Now that I have no time to sit there constantly, \"simple\" is way different, but early this year, simple meant staying awake all night (because I'm a night person by nature I and had no job to wake up to) and just simply keeping an eye as each new hourly bar formed...and I was doing ok with that too. Except that one Friday I was out shoveling snow at 7am and a huge 125 pip cable drop happened and I would have been in if I were there.....

Either way, it's all a journey and learning process and compromise of information and I got where I am because of your direct help and influence upon me, you were the first mentor I identified with and learned from and adapted my own ideas from your teachings and continued to evolve and progress and figure it all out as a result.

My path began to take shape when I came here and started learning from you. I'm eternally grateful for your fib thread and your own teaching style, the way you make people feel at ease and give hope and not only convey what you know but allow people to grow while under your teaching, express their own interpretations on your work etc.

I will always refer others to you and your teachings if all they get out of it is inspiration or an actual direct plan.

btw, one of these days I'll get Skype installed...what has it been, a year as of November? I've installed windows like 4 times this year and I finally just bought a new set of hardware (including the 4 monitor setup). I'll get in touch when I finally get that stuff setup!
LOL, thats what it all about, you find what works for you as you go and throw the rest away. Its never about trading exactly the same way someone else does , just learning the market and how it moves everyone can develope what works for them from that. LOL...you still dont have Skype.
  • #234
  • Oct 22, 2008 12:37am Oct 22, 2008 12:37am
Quoting Bobokus
LOL...you still dont have Skype.
You know, for a short while I did have skype, but microsoft (vista) forbid me to USE it. And it also told me I no longer had a webcam, speakers, mic, or second monitor (while XP agreed I had those peripherals). I think the 3rd reinstall cured that.

Taking what works and throwing the rest away....that would be my next choice in a sig line if it werent' for your ULTIMATE guidance stating that s/r either holds or doesn't. I can't beat that. It's .....simply true!
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #235
  • Edited 11:18pm Oct 28, 2008 10:14pm | Edited 11:18pm
Stopped by the 4 hour charts since I saw a pullback in a down trend. Set for +40 stop and up +118
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"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #236
  • Oct 30, 2008 8:06pm Oct 30, 2008 8:06pm
A fast in & out for +44 with a fixed target to the nearest recent support. Doesn't take much movement on daily to come out on top.
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Click to Enlarge Name: T1.jpg Size: 34 KB
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #237
  • Edited Nov 13, 2008 5:38pm Nov 12, 2008 6:08pm | Edited Nov 13, 2008 5:38pm
Weekly NZD USD pin. See next post for how it turned out.
Attached Image
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #238
  • Nov 13, 2008 5:42pm Nov 13, 2008 5:42pm
After staying in the weekly pin almost all week and trailing stops behind clear congestion areas on the 4 hour chart, I finally was taken out of the trade for a result of exactly +100 on the 4th day of the trade. I think I was up around +250 at any given time.

On this 4 hour chart I kept trailing a stop behind each new sudden drop followed by consolidation, next drop etc. By the time it fell into the area highlighted, it matched a previous low consolidation box and so this was to be a key area of interest to see if there's a reversal or longer stall. It was also consolidating around a round 00 number.

The red line is around where I sold the weekly pin and the green line is where I bought back in a stop out. The blue line is a key round number during consolidation.

Above the consolidation box was a round 50 number so I trailed my stop there and that's where I was taken out when it shot up. I just managed with a manual stop trail and no target.
Attached Image (click to enlarge)
Click to Enlarge Name: T1.jpg Size: 56 KB
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #239
  • Edited Nov 21, 2008 12:21am Nov 20, 2008 5:33pm | Edited Nov 21, 2008 12:21am
GBP USD daily Pin.
An obvious down trend is in play so this pin has formed in a pullback and makes a good place to get into the down move at least for a scalp in and out.

Ended up setting a stop for small profit once it went far enough toward the blue support line and then it retraced up and gave me the small gain.
Attached Image
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #240
  • Nov 21, 2008 4:23am Nov 21, 2008 4:23am
Sweet pin man!
Good trading...
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