are u talking of EurGbp(I missed the double top)?
ayour2a
Regards,
Ghous.
I believe . . .
- #17,701
- Dec 31, 2008 11:39am Dec 31, 2008 11:39am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Regards,
Ghous.
- #17,702
- Edited 12:35pm Dec 31, 2008 12:14pm | Edited 12:35pm
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Here is a nice BUOVB on the Gbp/usd daily chart, with divergence on the daily...
There is still time for te daily to close but the high and low have already crossed the borders, it's a valid BUOB, hope you're reading and looking at this John
The trick here has to be the Patience till a proper break of 1.47. Cheers!
The second chart shows another nice looking swing position, on the Eur/Chf. (HP you can bet Rac is watching this, he doesn't miss many
)
A close above 1.49 would be so cool!! An IB earlier failed to close above the fib confleunce (1.49 region) and today's bar so far has just abt defeated any movement south. I am not sure what you can call this In the textbook but it sure is some lovely price action
Regards,
Ghous.
There is still time for te daily to close but the high and low have already crossed the borders, it's a valid BUOB, hope you're reading and looking at this John
The trick here has to be the Patience till a proper break of 1.47. Cheers!
The second chart shows another nice looking swing position, on the Eur/Chf. (HP you can bet Rac is watching this, he doesn't miss many
)A close above 1.49 would be so cool!! An IB earlier failed to close above the fib confleunce (1.49 region) and today's bar so far has just abt defeated any movement south. I am not sure what you can call this In the textbook but it sure is some lovely price action
Regards,
Ghous.
I believe . . .
- #17,703
- Edited 12:37pm Dec 31, 2008 12:22pm | Edited 12:37pm
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
@John, Since these are not very often available on the higher tfs thought I should help you catch this one...
A perfect DBLHC
...And no that is'nt poor data feed, i erased a few bars before it to make the setup more prominent
Regards,
Ghous.
A perfect DBLHC
...And no that is'nt poor data feed, i erased a few bars before it to make the setup more prominent
Regards,
Ghous.
I believe . . .
- #17,704
- Dec 31, 2008 12:29pm Dec 31, 2008 12:29pm
- | Joined Mar 2008 | Status: shoe shine boy | 1,146 Posts
- #17,705
- Dec 31, 2008 1:26pm Dec 31, 2008 1:26pm
I have a NewYear present for you.
I shorted eurcad yesterday (It's hard not to trade when something comes to you on a golden plate...lol) and created quick video briefly explaining my thought process.
If interested, you can watch it HERE... I'll keep it there for few days.
Cheers and have a great and pipping 2009 all!
Thanks for the video!!
Carl
I shorted eurcad yesterday (It's hard not to trade when something comes to you on a golden plate...lol) and created quick video briefly explaining my thought process.
If interested, you can watch it HERE... I'll keep it there for few days.
Cheers and have a great and pipping 2009 all!
Thanks for the video!!
Carl
- #17,706
- Dec 31, 2008 2:06pm Dec 31, 2008 2:06pm
- | Commercial User | Joined Oct 2005 | 2,899 Posts
Very good video Raczek. Hope to see more of these next year. I'd really like to know how do you spread the risk on those trades. How much do you risk on short daytrades and those longer ones?
For risky trades (no pa confirmation, confluence, crystal ball in repair shop, etc) I keep initial stop below/above swing high and risk 1%. For good probability trades (last daily PB on us/cad at a triple top, e/chf short on Dec16 at solid ppz, fibs, emas, etc. confluence) rule for the stop is the same, but I may use 3 and sometimes 5% risk
stop posting, go partying guys...
heja
- #17,707
- Dec 31, 2008 3:53pm Dec 31, 2008 3:53pm
- | Joined Feb 2007 | Status: POP FIAT FASCISM | 1,106 Posts
Here is a nice BUOVB on the Gbp/usd daily chart, with divergence on the daily...
There is still time for te daily to close but the high and low have already crossed the borders, it's a valid BUOB, hope you're reading and looking at this John
The trick here has to be the Patience till a proper break of 1.47. Cheers!
The second chart shows another nice looking swing position, on the Eur/Chf. (HP you can bet Rac is watching this, he doesn't miss many
A close above 1.49 would be so cool!! An IB earlier failed to close above...
- #17,709
- Jan 1, 2009 12:00am Jan 1, 2009 12:00am
- Joined Nov 2007 | Status: Conscious Incompetence | 3,274 Posts
Happy new year to all and to a profitable 2009!
Don't wish it were easier, wish you were better. ~ Jim Rohn
- #17,711
- Jan 1, 2009 11:26am Jan 1, 2009 11:26am
- | Joined Dec 2008 | Status: Supporting the resistance. | 13 Posts
After reading the novel "Dune," by Frank Herbert, about a decade ago I felt enlightened. I was on a higher plane. I looked at the people around me and shook my head in sadness as they went about their meaningless lives. It lasted a few days, but for a time I felt the vague wisdom I gained from that book gave me power.
This has happened twice since then. Once with Orson Scott Card's short stories and then again with this thread. The first two times the knowledge and wisdom I gained was nebulous and not actionable. So this time is different. I can actually do something with the knowledge I now have -- with the power I have. (Yes, I understand this is just the beginning and I still have tons to learn, but I still feel powerful
.)
I've been lurking around FF for nearly a year trying to figure out how to make consistent profits with my virtual money. (I haven't done the real thing yet, just demo.) I have now found it. I finished reading this thread yesterday and then went to the PF and watched/read all the free stuff.
I've got three years left on my enlistment. Time enough to learn and build an account? ... Maybe. We'll see.
So anyway... attached to my first post is my first chart. A pin bar I took on the USD/CAD 3-hour chart. I know I shouldn't be looking at anything but dailies and higher but it just jumped out at me so I put very little risk on it -- .5%. Got 100 pips. Not so bad. I do have one question about my chart: Is my fib upside down? I'm not sure. I need to do a little studying on fibs. I'm also eyeballing that BUOVB on the GBP/USD daily that Ghous pointed out.
Right. So, I feel rather fortunate to have found this thread with everyone's informative and intelligent insights and I wish you all a prosperous new year.
-Sam
This has happened twice since then. Once with Orson Scott Card's short stories and then again with this thread. The first two times the knowledge and wisdom I gained was nebulous and not actionable. So this time is different. I can actually do something with the knowledge I now have -- with the power I have. (Yes, I understand this is just the beginning and I still have tons to learn, but I still feel powerful
.)I've been lurking around FF for nearly a year trying to figure out how to make consistent profits with my virtual money. (I haven't done the real thing yet, just demo.) I have now found it. I finished reading this thread yesterday and then went to the PF and watched/read all the free stuff.
I've got three years left on my enlistment. Time enough to learn and build an account? ... Maybe. We'll see.
So anyway... attached to my first post is my first chart. A pin bar I took on the USD/CAD 3-hour chart. I know I shouldn't be looking at anything but dailies and higher but it just jumped out at me so I put very little risk on it -- .5%. Got 100 pips. Not so bad. I do have one question about my chart: Is my fib upside down? I'm not sure. I need to do a little studying on fibs. I'm also eyeballing that BUOVB on the GBP/USD daily that Ghous pointed out.
Right. So, I feel rather fortunate to have found this thread with everyone's informative and intelligent insights and I wish you all a prosperous new year.
-Sam
- #17,712
- Jan 1, 2009 12:21pm Jan 1, 2009 12:21pm
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
After reading the novel "Dune," by Frank Herbert, about a decade ago I felt enlightened. I was on a higher plane. I looked at the people around me and shook my head in sadness as they went about their meaningless lives. It lasted a few days, but for a time I felt the vague wisdom I gained from that book gave me power.
This has happened twice since then. Once with Orson Scott Card's short stories and then again with this thread. The first two times the knowledge and wisdom I gained was nebulous and not actionable. So this time is different. I...
I would first of all like to congratulate you on finding this great place. Welcome aboard!
I must also admit that i am extremely impressed with the mindset you have stepped in this business with. Due to the lack of any major hurdles towards the amount of money you can make in this business it is never a surprise to see a few "BOY! 6 months and my $1000 will be $100,000
" kind of ppl pop in. this business just like any other demands time, some shift in priorities and a serious attitude, looking at the reward it's always a cheap deal, and it's this very thing that ppl specially the newcomers will overlook. They'll act as the rats following the pied piper and refuse to consider anything else but the sweet melody of the flute.
Reading your post above i realized you've been a very good student and a responsive learner
People like you deserve to be in the 10% of all newbies making their way through to become pros!!
God Bless!!
Now abt your trade...
You took a valid Pin bar, and congrats on the profit you made on it, the only thing i found worrying with the setup was the traffic that the pin was in, but the trade was great for one in a ranging market...
I and we all here hope to hear from you on a frequent basis, we're often very lonely here, and when leanrers like you can join in, the situation is nothing less then a treat!
Regards,
Ghous.
I believe . . .
- #17,714
- Jan 1, 2009 12:47pm Jan 1, 2009 12:47pm
- | Joined Dec 2008 | Status: Supporting the resistance. | 13 Posts
I would first of all like to congratulate you on finding this great place. Welcome aboard!
I must also admit that i am extremely impressed with the mindset you have stepped in this business with.
Reading your post above i realized you've been a very good student and a responsive learner
People like you deserve to be in the 10% of all newbies making their way through to become pros!!
God Bless!!
Now abt your trade...
You took a valid Pin bar, and congrats on the profit you made on it, the only thing i found worrying with the setup was...
. Thanks also for the warm welcome. I expected nothing less though based on everything I've read on this thread.I took that trade on the 30th and didn't get to Mike's videos in the guest area of the PF until yesterday. And it wasn't until then that I understood the whole "in traffic" concept and the lovely cherry on a branch formation he shows. I get that a lot better now. Regardless, I would have probably taken the trade anyway based on my gambling proclivities
. Another thing I need to work on.-Sam
- #17,715
- Jan 1, 2009 9:51pm Jan 1, 2009 9:51pm
- Joined Apr 2006 | Status: Mmmm pips. | 1,418 Posts
Mr. Trend
- #17,717
- Jan 1, 2009 10:24pm Jan 1, 2009 10:24pm
- | Commercial User | Joined Mar 2008 | 9,069 Posts
Happy Trading! May this year be more prosperous than last year
Using wiseman1 and 2 as well...??
Sonic
- #17,718
- Jan 1, 2009 10:37pm Jan 1, 2009 10:37pm
guess u r doing Bill Willaim's chaos with J16...got alligator?
Using wiseman1 and 2 as well...??
Sonic
I use PA to filter my entry as I don't want to count voodoo wave LOL
- #17,719
- Jan 2, 2009 1:25am Jan 2, 2009 1:25am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
I believe . . .
- #17,720
- Jan 2, 2009 1:29am Jan 2, 2009 1:29am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
I believe . . .