EURUSD

Sorry for the ignorance but what is ES?

Guys,
as said yesterday .. 2555 is the key to many things.
I am slightly long at 2555

SP500 e-mini futures contract.

see my post here:

http://www.forexfactory.com/showpost...ostcount=46188

Hello Driver55;

I would appreciate your analysis on that;
you mentioned using Gann analysis, yesterday,
will you post your point of view??

..

Hello Unicorn,

I can tell you that we have the same situation as yesterday, just in the opposite direction. Statistically we should be in compliance with the rules of Gann above 2680. This according to some indicators that I use and referring to the rules of Gann.
When you have these unusual situations the market tends to fall into these rules .In this case for example, in order to continue to decline, the market has only a possibility, that is, doing what he did yesterday before the European session. I want to say that I expect hours of parking, and then resume its downward path. But if it continues downward in the coming hours would be illogical for me.
I can not attach a chart in this moment to explain my point of view.

Here's the thing dw... i ONLY look for shorts on the pairs I trade. that right there helps to winnow out all the potential blabber and noisy things going on.

Ranging market? i scalp the tops of the range. simple, boring. profitable.

Consolidation where who knows what is going on? no new trades, I babysit existing ones that likely have substantial buffer zone of +pips and have already had good chunks of profit locked in... not as much left to lose, or erode away, and SL is built in. sometimes they get taken out on big rallies... so? I'll re-enter if appropriate and start over.

Trending markets? Find the best entries on rallies, watch the market hour spikes (see yesterdays post on that ) and ride them (currently) down.

Goal (not always realized) is to minimize actual losers where I have to bail at loss, and maximize winners. Sometimes I have trades go underwater but trust the trend and my indi's. I also need to know what might be going on that caused the reversal run or spike (not trend reversal tho, that usually takes time imo) and decide whether to cut and run, or tread water for awhile. Entry size and state of positive running trades all figure into that scenario.

I currently have 18 open trades... 3 are negative (shaded in red) from -20 to -80 pips atm, but total pip count is well over... alot, and the trend is in my direction. This cushion takes time and patience to build up from the very best entry levels over time. The rest get taken out by spikes or closed as they become less productive and need to go away.

I'm posting the pip count only of my currently open trades as of right now. My oldest open trade is from Nov 5. Most of the trades you see below are fractions of trades over 3 pairs that have been scaled out from 0% to up to 90% of a Gy trade that's over 1500 pips.

My point is that you don't have to "jump out" of any trade, unless the entry is crummy or you misread the PA. I jump out of trades all the time, and also do alot of fixed pip trades when it's ranging PA.

When you get a killer pro-trend entry, caress it, blow in it's ear, and whisper sweet things to it for awhile. Walk away from it with a small SL locked in(mine are usually +1 to +5) and then come back when it's in bookoo pips. Scale out a bit and watch it run. On huge moves, I often do either .15 per cut all the way down to .10 which can run forever, or some combo of cuts depending on the entry and the PA.

You can do this (it's easier actually) on one pair only that you know well and accomplish the same thing. Think of it as a tweak to whatever strategy is already making you pips.

Didn't intend to write a book here, but patience and trade discipline, swinging less, and hitting strong singles every day with an occasional double will take you a LONG LONG way in this current market. There's always another pip somewhere. Hope this helps.

Wow. What a HUGE stop hunting.
Now, back to square one...

I 90% of the time trade the direction of the main trend, wait for a spike in the opposite direction and enter in the way of the trend. Very profitable - I have quadrupled my account from Oct. and already doubled my account in Nov. I got IBFX to send me a check for my original deposit, so I'm trading on house money.

Maybe one day I'll get where I hold a trade for awhile, but it seems to me you are better served to take your profit, wait for the retracement and go back in. Sometimes you give up more profits - but it seems to me in the long run, one or 2 times you do it right will more than make up for holding it too long.

Guess it's just a difference in styles? You are more of a hold out for the longer term, where I may get in/out 3-4 times on the same trade.

Exactly right!
Hope you were able to cash in on some of it!

I do.

One of the smartest decisions anyone can make imo...

Oh - awesome trading by the way!!!

Hahah - I thought it was.
The plan now is to draw out 10-25% of the profit each month and put towards another account with another broker. Spread the risk.

New Update:
EUR/USD Buy near 1.2523
GBP/USD Buy near 1.4961
AUD/USD Buy near 0.6421
NZD/USD Buy near 0.5447

USD/CAD Sell near 1.2447
GBP/JPY Buy near 143.93
EUR/JPY Buy near 121.01
EUR/CHF Buy near 1.5199
EUR/GBP Buy near 0.8307

1.2570 is a level im watching since last week:nerd:

What are you watching for?

ALG their ppl. looking for your updates you forgot them? Good calls by the way

it's acted as a strong support since sunday to me.. actually its weekly fibs level (38.2) from last week high/low

The other way around - 1.2594 is 61.8% fib of last week's range.
38.2% is 1.2721