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Nomoretoxic's breakout

  • #461
  • Oct 1, 2008 6:12am Oct 1, 2008 6:12am
Quoting swakop
Good morning all,

here my buy stop: eurchf 1.5820
sl 1.5800
tp 1.5840

Thanks for posting, swakop.

could you please post a clean (no indicators) charts showing your entry/exit and stop-loss?

thanks.
  • #462
  • Oct 1, 2008 6:13am Oct 1, 2008 6:13am
Quoting jeffng
Hi RRoths

I could see a trade in EURUSD, Buy @ 1.4166 which is trigger at 0940 GMT. This hits the stoploss @ 1.4142 - 1045 GMT. Could you share with me why you don't take this trade?

Thanks.
Jeff
could you post some charts??

thanks.
  • #463
  • Oct 1, 2008 6:18am Oct 1, 2008 6:18am
Hi nomoretoxic,
no probleme. The next chart is clean.
  • #464
  • Oct 1, 2008 6:23am Oct 1, 2008 6:23am
You're correct, there could have been a trade on the 5:40 Est bar. I didn't take it because it was too close to the next session for me.

The trade would still be open at this point. It would have looked like this if I woud have taken it:

Entry 1.4163
SL 1.4112 (51 PIPs)
TP 1.4214

Too risky for me that late in the session. Nomo's the expert, he can weigh in on my decision.

Hope this helps

RR -
Quoting jeffng
Hi RRoths

I could see a trade in EURUSD, Buy @ 1.4166 which is trigger at 0940 GMT. This hits the stoploss @ 1.4142 - 1045 GMT. Could you share with me why you don't take this trade?

Thanks.
Jeff
  • #465
  • Oct 1, 2008 7:11am Oct 1, 2008 7:11am
Quoting RRothschild
You're correct, there could have been a trade on the 5:40 Est bar. I didn't take it because it was too close to the next session for me.

The trade would still be open at this point. It would have looked like this if I woud have taken it:

Entry 1.4163
SL 1.4112 (51 PIPs)
TP 1.4214

Too risky for me that late in the session. Nomo's the expert, he can weigh in on my decision.

Hope this helps

RR -
I normally don't trade anything close to 7:00 AM coming down from London session.

As to the exact time to stop trading, pretty much a judgment call. I check how the price has been trading inside the box. If get's choppy, I stay out - another good thing about the box in my opinion.

Hope it helps
  • #466
  • Oct 1, 2008 7:23am Oct 1, 2008 7:23am
Quoting nomoretoxic
could you post some charts??

thanks.
Here is the chart
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 1OCT.jpg Size: 76 KB
  • #467
  • Oct 1, 2008 8:15am Oct 1, 2008 8:15am
Quoting jeffng
Here is the chart

it's is a clean - stopped out - no questions about it.

Like 1 hour before 7:00 AM.

Here's my advice to you.

if you see the trade not coming 1 or 1/12 hours before 7:00 am, I suggest don't take the trade.

But....

if you're in a trade and the market gets choppy afterward, you can either close the trade with a loss or simply let it go (which is risky).

Anyway, what will make you or break you as a trader, is to know that losses are possible no matter what system/strategy/box you use.

We try to minimize risk. That's the best we can do.

hope it helps

cheers
  • #468
  • Oct 1, 2008 8:34am Oct 1, 2008 8:34am
Here my new orders.
eurusd sell stop 1.3972
sl 1.4006
tp 1.3937

gbpusd sell stop 1.7656
sl 1.7682
tp 1.7626
Attached Image(s) (click to enlarge)
Click to Enlarge Name: chart eurusd 01.10..gif Size: 11 KB
Click to Enlarge Name: chart gbpusd 01.10..gif Size: 11 KB
  • #469
  • Oct 1, 2008 8:46am Oct 1, 2008 8:46am
Wow, this can work for oil also.
Attached Image (click to enlarge)
Click to Enlarge Name: oil.gif Size: 14 KB
  • #470
  • Oct 1, 2008 8:55am Oct 1, 2008 8:55am
Quoting swakop
Here my new orders.
eurusd sell stop 1.3972
sl 1.4006
tp 1.3937

gbpusd sell stop 1.7656
sl 1.7682
tp 1.7626
eurusd canceled, gbpusd -26 pips.
  • #471
  • Oct 1, 2008 8:57am Oct 1, 2008 8:57am
Quoting nyachty
Wow, this can work for oil also.
Any market with pullbacks. On oil, yeah - stocks, emini's etc.

Just bear in mind about the ranges of that particular markets, and periods of consolidation/volatility.
  • #472
  • Oct 1, 2008 8:59am Oct 1, 2008 8:59am
I am not a big fan of fundamentals, but I keep my ear on the ground.

FYI the markets are in pause for this blank check the government is willing to give away to the wealthiest and privileged.

awww. my bad - the 700b bailout.

sorry.

cheers
  • #473
  • Oct 1, 2008 9:09am Oct 1, 2008 9:09am
Quoting swakop
Here my new orders.
eurusd sell stop 1.3972
sl 1.4006
tp 1.3937

gbpusd sell stop 1.7656
sl 1.7682
tp 1.7626
swakop.

Thanks for your charts. You know, I 've been more inclined lately to trade more E/U better than G/U . I fell that E/U is less volatile yet I have enough volatility for a nice run.

Just a personal choice.


Nice charts by the way.

I am sitting on my hands today . Markets are weird.

I am watching E/U forming a pullback now. Maybe I shoot for it. don't know.


cheers
  • #474
  • Oct 1, 2008 9:30am Oct 1, 2008 9:30am
Quoting swakop
eurusd canceled, gbpusd -26 pips.
How come your GU is -26pips?

My GU still holding with +7pips floating. EU havent activated pending order.
EJ closed for +33pips
  • #475
  • Oct 1, 2008 9:50am Oct 1, 2008 9:50am
Quoting mphpopular
How come your GU is -26pips?

My GU still holding with +7pips floating. EU havent activated pending order.
EJ closed for +33pips
Hi mphpopular,
I did open gu @1.7656 and my sl was 1.7682.
  • #476
  • Oct 1, 2008 9:54am Oct 1, 2008 9:54am
This is for today. EU still not yet activated.

GU, you're right. Closed at SL.
Wish I'm do correctly.
Attached Image (click to enlarge)
Click to Enlarge Name: toxic4.jpg Size: 114 KB
  • #477
  • Oct 1, 2008 12:25pm Oct 1, 2008 12:25pm
I've been in a meeting since 9a until now.

Doesn't look like I missed much in the market today. At this point, I think I'll sit on my hands.

Has anyone been testing out the Asian market anymore? If not, I may start and post my results, if it's ok with Nomo and is interesting to the post contributers and readers.

RR -
  • #478
  • Oct 1, 2008 12:42pm Oct 1, 2008 12:42pm
Quoting RRothschild
I've been in a meeting since 9a until now.

Doesn't look like I missed much in the market today. At this point, I think I'll sit on my hands.

Has anyone been testing out the Asian market anymore? If not, I may start and post my results, if it's ok with Nomo and is interesting to the post contributers and readers.

RR -
The more information the better
  • #479
  • Oct 1, 2008 1:24pm Oct 1, 2008 1:24pm
Quoting RRothschild
I've been in a meeting since 9a until now.

Doesn't look like I missed much in the market today. At this point, I think I'll sit on my hands.

Has anyone been testing out the Asian market anymore? If not, I may start and post my results, if it's ok with Nomo and is interesting to the post contributers and readers.

RR -

I started casually eyeballing the Asian session last week (E/U, G/U, G/Y). There are some trades if you stick with the rules. Last couple of days have been choppy, but I have noticed that the pound yen will explode out of the box for 20-30 pips and more (usually not long after the open). But never come back until the Euro session.
  • #480
  • Edited 2:56pm Oct 1, 2008 2:55pm | Edited 2:56pm
Quoting RRothschild
I've been in a meeting since 9a until now.

Doesn't look like I missed much in the market today. At this point, I think I'll sit on my hands.

Has anyone been testing out the Asian market anymore? If not, I may start and post my results, if it's ok with Nomo and is interesting to the post contributers and readers.

RR -

Absolutely. I personally don't trade Asia session but it's probably worth to take a look at it.

Here's an indicator that draws a vertical line per session. It's adjustable. I found it very useful.


Hope it helps.
cheers.
Attached File(s)
File Type: ex4 session lines.ex4   6 KB | 467 downloads
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