Dislikedlooks like PB isn't valid anymore..5 min to go...in EU and EJ h1 TF..
SonicIgnored
- #14,481
- Oct 15, 2008 9:34pm Oct 15, 2008 9:34pm
- | Joined Feb 2007 | Status: POP FIAT FASCISM | 1,106 Posts
- #14,482
- Oct 15, 2008 10:09pm Oct 15, 2008 10:09pm
- | Commercial User | Joined Mar 2008 | 9,074 Posts | Online Now
Am I seeing a possible PB in EU and EJ H1 TF??
Sonic
Nice PIN Bar play...
100+ pip bagged...
Black :: Entry
Red :: SL
Blu :: TP
Sonic
- #14,483
- Oct 15, 2008 10:30pm Oct 15, 2008 10:30pm
another example of the same methodology (more risky)on a smaller TF. This is just about as low as I get.
Retrace to mid 50/61fib and ppz confl, before reloading longs.
Waiting for PA confirmation is always safer though.
SL below 61fib (at the time of a trade), TP - bars low or another ppz (on the same TF)
..
Thanks,Jason
May the fish in your stream of life always bite.
- #14,485
- Oct 15, 2008 10:55pm Oct 15, 2008 10:55pm
- | Commercial User | Joined Mar 2008 | 9,074 Posts | Online Now
- #14,486
- Oct 16, 2008 3:41am Oct 16, 2008 3:41am
- Joined Feb 2006 | Status: 'Try-hard' extraordinaire... | 2,151 Posts
Guess...U must have bagged/locked ur profit on GU long...
Sonic
Bundy's status today: "Waiting..." 
- #14,487
- Oct 16, 2008 4:18am Oct 16, 2008 4:18am
- Joined Jan 2008 | Status: In Fibonacci We Trust | 2,397 Posts
Nice PIN Bar play...
100+ pip bagged...
Black :: Entry
Red :: SL
Blu :: TP
Sonic
This wacky market is printing PB's left and right. Good eyeball on that PB Sonic!
- #14,488
- Oct 16, 2008 6:53am Oct 16, 2008 6:53am
- | Commercial User | Joined Oct 2005 | 2,899 Posts
Nice setup Racz, you old scalper you! If that worked only 50% of the time you would be in the money big time.
Jason
- #14,489
- Oct 16, 2008 7:03am Oct 16, 2008 7:03am
- | Joined Aug 2007 | Status: I keep my eyes open | 1,108 Posts
Many people see 50-75 pip gain and move stop to BE automatically. Again, it depends on the timeframe/position size.
So, with the example of a 100-pip retracement, I'll grab those 75 pips first, then wait for a good setup (after the retracement) and re-enter. That way I may get not 600 pips of the main move, but 650-700. It's not about picking (hm, I misspelled it first to "licking"
) bottoms, it's about timing my entry on a lower TF using the same rules as on higher TF.
One Chart is Worth Ten Thousand Words.
- #14,490
- Oct 16, 2008 7:04am Oct 16, 2008 7:04am
- | Commercial User | Joined Oct 2005 | 2,899 Posts
Raczek's the master of those plays. You can bet he did.
Trade Well!
- #14,491
- Oct 16, 2008 8:27am Oct 16, 2008 8:27am
- | Joined Aug 2007 | Status: I keep my eyes open | 1,108 Posts
One Chart is Worth Ten Thousand Words.
- #14,492
- Oct 16, 2008 8:51am Oct 16, 2008 8:51am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
Sorry for an off the topic Q, guys: do any of you ever get a 24-pip spread during a non-news morning (6am GMT) on GBP/USD with your broker?
Also, do you often get filled with a price different from QUOTED one - whilst that quote is still shown on the screen?
Many thanks!
As for getting the quoted price if you are using market order , which you are by the wording then you are telling your broker to give me any price out there in the world, that all you want to do is get in. Protect yourself with bounds or LIMIT orders.
Illiquid markets + market orders = at the mercy of your broker/market
Trade safe out there
Out for a small trip for the weekend cya guys sunday!
Mike
- #14,493
- Oct 16, 2008 8:54am Oct 16, 2008 8:54am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Yes, there are many times and reasons for this and it all comes back to liquidity. These are illiquid times, just as news is illiquid, or early sunday before banks are opening and the books are thin. This will cause all spread widening slippage etc. For example aud/usd has been highly illiquid which has lead to some crazy spreads, which means less money to move the market etc. Check out darkstars thread on The structure of Forex brokers.
As for getting the quoted price if you are using market order , which you are by the wording then you are telling your broker to give me any price out there in the world, that all you want to do is get in. Protect yourself with bounds or LIMIT orders.
Illiquid markets + market orders = at the mercy of your broker/market
Trade safe out there
Out for a small trip for the weekend cya guys sunday!
Mike
Indicators show the past. Price Action "Indicates" the future.
- #14,494
- Oct 16, 2008 8:55am Oct 16, 2008 8:55am
- | Commercial User | Joined Mar 2008 | 9,074 Posts | Online Now
- #14,495
- Oct 16, 2008 9:04am Oct 16, 2008 9:04am
Good explanation by Mike. (as always)
I've seen some "interesting" things regarding spreads these days, so nothing really surprises me.
The other thing to note, that Mike already mentioned, is that when you place a market order you really don't know where you will get filled. What you see on the chart doesn't always represent the orders that are out there. Charts present an average price. Actually, on some chart platforms there is an option to display the max/min orders. Sometimes there is quite a difference between the price shown on the bar/candle chart and the actual orders.
Have a good trip Mike.
Tom
I've seen some "interesting" things regarding spreads these days, so nothing really surprises me.
The other thing to note, that Mike already mentioned, is that when you place a market order you really don't know where you will get filled. What you see on the chart doesn't always represent the orders that are out there. Charts present an average price. Actually, on some chart platforms there is an option to display the max/min orders. Sometimes there is quite a difference between the price shown on the bar/candle chart and the actual orders.
Have a good trip Mike.
Tom
- #14,496
- Oct 16, 2008 9:06am Oct 16, 2008 9:06am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #14,497
- Oct 16, 2008 9:07am Oct 16, 2008 9:07am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Hi guys,
Nice to see everybody get their share of these good times after having let go the pins earlier cuz of the fact they were counter trend but not long after worrying for all the pips foregone i soon got my share too when i took the with trend PBs in Nu, Gj and Au. Glad to be a satisfied trader like ya'll
1H action on Ej is pretty much sideways for me Sonic and yes it's against the trend too, with the juicy trades you already took during this marvelous trading week i don't think it's worth the risk, is it
anyways have a great Trading Friday and the weekend ahead guys
Regards,
Ghous.
Nice to see everybody get their share of these good times
after having let go the pins earlier cuz of the fact they were counter trend but not long after worrying for all the pips foregone i soon got my share too when i took the with trend PBs in Nu, Gj and Au. Glad to be a satisfied trader like ya'll Am I seeing a PB in EJ 1H TF??
Kinda Counter T though,,,
sonic
1H action on Ej is pretty much sideways for me Sonic and yes it's against the trend too, with the juicy trades you already took during this marvelous trading week i don't think it's worth the risk, is it
anyways have a great Trading Friday and the weekend ahead guys
Regards,
Ghous.
I believe . . .
- #14,498
- Oct 16, 2008 9:11am Oct 16, 2008 9:11am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Hi guys,
Nice to see everybody get their share of these good times
Regards,
Ghous.
Indicators show the past. Price Action "Indicates" the future.
- #14,499
- Oct 16, 2008 9:14am Oct 16, 2008 9:14am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Nice job ghous. I was wondering if you took that Pin Bar on the G/U and G/Y.
I believe . . .
- #14,500
- Oct 16, 2008 9:16am Oct 16, 2008 9:16am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
you referring to the CT ones??
Indicators show the past. Price Action "Indicates" the future.