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Complex TA; The Road Of An (Igrok) Apprentice

  • #21
  • Jan 7, 2009 4:10am Jan 7, 2009 4:10am
Quoting aediaz1
Good morning. Had almost the same experience yesterday with gbp/chf. My sell limited order missed by a pip or 2 before going south. I removed my order and left my computer and 1 hour later price had touched back at the TL before going down again lol.
Aint that a bxxxh mate lol and same thing here 1st 1hr candle touches the line i want but misses my order by a few pips and goes higher, then the 2nd 1hr candle lowers and touches the same line once again even giving a better price, but my order is deleted, so nothing How can we call this? lol
  • #22
  • Jan 7, 2009 4:25am Jan 7, 2009 4:25am
Quoting belekas
Aint that a bxxxh mate lol and same thing here 1st 1hr candle touches the line i want but misses my order by a few pips and goes higher, then the 2nd 1hr candle lowers and touches the same line once again even giving a better price, but my order is deleted, so nothing How can we call this? lol
Market tells us to pay more attention !
Measure twice, cut once
  • #23
  • Jan 7, 2009 4:29am Jan 7, 2009 4:29am
Quoting aediaz1
Market tells us to pay more attention !
Exactly and believe to what its telling to us. The chart doesnt lie Trade taking off, nicely done mate!
  • #24
  • Jan 7, 2009 4:37am Jan 7, 2009 4:37am
What is your targets for GBP/CHF trade aediaz1?
  • #25
  • Edited 9:49am Jan 7, 2009 4:42am | Edited 9:49am
Quoting belekas
Exactly and believe to what its telling to us. The chart doesnt lie Trade taking off, nicely done mate!
It never does

Closed half of the position @ +60. A miscalculation in position seize gave me only +0.5%. Sigh... How is it possible to make mistakes like this ? Anyway, rest @ TS 57 pips.
Measure twice, cut once
  • #26
  • Jan 7, 2009 4:46am Jan 7, 2009 4:46am
Quoting aediaz1
It never does

Closed half of the position @ +60. A miscalculation in position seize gave me only +0.5%. Sigh... How is it possible to make mistakes like this ? Anyway, rest @ TS 57 pips.
Congrats buddyYes we make simple mistakes, nobody is perfect maybe just the market lol We had a nice 19.5 (a) in the early EUR/GBP but i wasnt at my computer, did you mange to take it bro?
  • #27
  • Jan 7, 2009 4:55am Jan 7, 2009 4:55am
Quoting belekas
Congrats buddyYes we make simple mistakes, nobody is perfect maybe just the market lol We had a nice 19.5 (a) in the early EUR/GBP but i wasnt at my computer, did you mange to take it bro?
In answer to your first question, I'm thinking of extending my TS and try to catch that 4h TL again. Mistakes are always made from time to time but certain mistakes should be eliminated long time ago like calculating position seize !

No, I didn't as the lower horizontal line seemed a bit ascending. Although, it worked out just perfectly. Hm wonder what Igrok would have said regarding that template.
Measure twice, cut once
  • #28
  • Jan 7, 2009 5:04am Jan 7, 2009 5:04am
Quoting aediaz1
In answer to your first question, I'm thinking of extending my TS and try to catch that 4h TL again. Mistakes are always made from time to time but certain mistakes should be eliminated long time ago like calculating position seize !

No, I didn't as the lower horizontal line seemed a bit ascending. Although, it worked out just perfectly. Hm wonder what Igrok would have said regarding that template.
Keep a note of 1.6582 as it might bounce from there, from my point of view. Well i think i know what the answer will be like ... in TA 2 x 2 doesnt always is 4 can be 5 or 3 if you know what i mean
  • #29
  • Edited 9:48am Jan 7, 2009 5:34am | Edited 9:48am
Quoting belekas
Keep a note of 1.6582 as it might bounce from there, from my point of view. Well i think i know what the answer will be like ... in TA 2 x 2 doesnt always is 4 can be 5 or 3 if you know what i mean
Bounced even before that stopping out my TS. +0.45%, +0.9% total.


I just realised my risk factor was only 0.3% WAKEUP-CALL! I'm doing mistakes even a complete newbie wouldn't do !
Measure twice, cut once
  • #30
  • Jan 7, 2009 6:02am Jan 7, 2009 6:02am
Quoting aediaz1
Bounced even before that stopping out my TS. +0.45%, +0.9% total.


I just realised my risk factor was only 0.3% WAKEUP-CALL! I'm doing mistakes even a complete newbie wouldn't do !
And im having problems with setting those pending orders they always gets missed by a few damn pips lol we gotta snap out of it lol
  • #31
  • Jan 7, 2009 6:14am Jan 7, 2009 6:14am
TS isn't always the solution for maximum gains. A SL behind the intraday TL on the gbp/chf would have made much more sense. Negative outcome on the position would have been excluded so one could ask why I didn't do this.
Measure twice, cut once
  • #32
  • Jan 7, 2009 7:44am Jan 7, 2009 7:44am
Quoting aediaz1
TS isn't always the solution for maximum gains. A SL behind the intraday TL on the gbp/chf would have made much more sense. Negative outcome on the position would have been excluded so one could ask why I didn't do this.
Yes i feel you...That was a lovely trade though i did even a more stupid mistake and tried to short scalp for a few pips and got burned... Dont know whats wrong though... ;/
  • #33
  • Jan 7, 2009 8:59am Jan 7, 2009 8:59am
Quoting aediaz1
Sold @ break. Stop/reverse above Asia high. 30 pips TS active.
Stopped out at +1 pip an my limit buy got activated @ 1.1865.
Measure twice, cut once
  • #34
  • Jan 7, 2009 9:30am Jan 7, 2009 9:30am
Ironic how the usd can strength when you look at the bad numbers coming out at non-farm employment change some hours ago. That's why I don't care much for news-trading and rather look at my chart. Usd/cad position is at +65 right now.
Attached Image (click to enlarge)
Click to Enlarge Name: cad.jpg Size: 106 KB
Measure twice, cut once
  • #35
  • Edited 7:43pm Jan 7, 2009 9:47am | Edited 7:43pm
Usd/cad; stopped out @ +50 pips, +0.45%. I found out that my position-calculator (just had to plot in entry and exit) is all wrong ! So it's back to the old fashion way with pip-value x stop/loss in pips = position seize.
Measure twice, cut once
  • #36
  • Jan 7, 2009 7:42pm Jan 7, 2009 7:42pm
Wednesday; +1.35%
Measure twice, cut once
  • #37
  • Edited Jan 8, 2009 2:00am Jan 7, 2009 7:53pm | Edited Jan 8, 2009 2:00am
Seems like we have some volatility during Asia session so I took a TL break on (lower TF) on usd/cad. Will not reverse position if stopped out.

Update; -0.6%
Attached Image (click to enlarge)
Click to Enlarge Name: cad.jpg Size: 95 KB
Measure twice, cut once
  • #38
  • Edited 4:01am Jan 8, 2009 3:05am | Edited 4:01am
18.2a eur/gbp so short position.

Update; SL @ BE. Stopped out. I rarely move SL to BE after 18 pips but on days like this I don't hesitate to reduce my risk to the minimum. My plan was to jump on the wagon but it changed direction quick and fast.
Attached Image (click to enlarge)
Click to Enlarge Name: eurhbp.jpg Size: 101 KB
Measure twice, cut once
  • #39
  • Jan 8, 2009 6:09am Jan 8, 2009 6:09am
Thanks to those god damn news I didn't get filled at cable and stayed out from eur/gbp trade lol.

That arrow represented where I tried to buy like an hero but just got re-quoted, as news-release was due.

I also saw an option to short eur/gbp with tight SL. Ah well, that's the price to pay having strict rules.
Attached Image (click to enlarge)
Click to Enlarge Name: 18.3b.jpg Size: 105 KB
Attached Image
Measure twice, cut once
  • #40
  • Jan 8, 2009 6:16am Jan 8, 2009 6:16am
Would have been one lovely cable long hehe
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