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  • #7,661
  • Jan 26, 2009 10:37am Jan 26, 2009 10:37am
Quoting misterboy
Anyone looking to short at 3080-3110 if it gets there?
Well this would've been a big flop.

What sucks even more is I I missed some on EURJPYand USDCAD. Seems the only thing Im really good at is not watching the right ones at the right time.
  • #7,662
  • Jan 26, 2009 10:40am Jan 26, 2009 10:40am
Quoting misterboy
Well this would've been a big flop.

What sucks even more is I I missed some on EURJPYand USDCAD. Seems the only thing Im really good at is not watching the right ones at the right time.
I actually lost about 4-5 nice trades today... 2 because I wasn't home and the rest because I didn't pay attention... But I'm sure we'll learn this in time, mate. So we should just keep thinking positive. Tomorrow is another day . I'm gonna go chill now, so nitey nite
  • #7,663
  • Jan 26, 2009 10:41am Jan 26, 2009 10:41am
Quoting bumasoft
I actually lost about 4-5 nice trades today... 2 because I wasn't home and the rest because I didn't pay attention... But I'm sure we'll learn this in time, mate. So we should just keep thinking positive. Tomorrow is another day . I'm gonna go chill now, so nitey nite
Yea. Less than 6 months experience--I guess thats the reason lol.

Have a good night
  • #7,664
  • Jan 26, 2009 11:01am Jan 26, 2009 11:01am
Quoting misterboy
Well this would've been a big flop.

What sucks even more is I I missed some on EURJPYand USDCAD. Seems the only thing Im really good at is not watching the right ones at the right time.
Misterboy - If you can't send yourself alerts in your platform, give one of these a try:

http://www.forexpricealert.com/

or

http://www.alertfx.com/

Both are FREE sites where you can set alerts to send you email/text messages when prices hit a certain point. Set up some values in advance and let the market notify you as prices are nearing the S&R line/range you specify.
  • #7,665
  • Jan 26, 2009 2:46pm Jan 26, 2009 2:46pm
Quoting nyjetfan
Misterboy - If you can't send yourself alerts in your platform, give one of these a try:

http://www.forexpricealert.com/

or

http://www.alertfx.com/

Both are FREE sites where you can set alerts to send you email/text messages when prices hit a certain point. Set up some values in advance and let the market notify you as prices are nearing the S&R line/range you specify.
Oh thanks for that. I will check it out.
  • #7,666
  • Jan 26, 2009 3:24pm Jan 26, 2009 3:24pm
Quoting cliffedwards
Interesting day.. stock correlation intact..dayhigh pop through round no...But EYen hasnt followed..so possible retest 311X if S&P falls into close?? watch last 30 minutes..nice rally on dax ...IMHO important where SP closes..
E$ bulls need good close here.. and need to test 33 handle going forward this next few days..Size of US hhdebt getting a lot of scary exposure from the talking heads..BTW G$ looking toppy..wonder if it will actually get to the 40 handle for that bounce ?

RC /smitty...any HiTech TA take .. on this?
I'll reply in the morning... too much wine!
  • #7,667
  • Jan 26, 2009 3:43pm Jan 26, 2009 3:43pm
Quoting RedCabbage
Spot on.

I still have 11390.
40-50pips available at each level 418 and 400(23.6Fib) - too many bites.

The best reversals come after a strong solid delivery to s/r, this was messy.

Never mind, a tad under 400pips today even after after a couple of losses - hence the wine.

Roll on tomorrow!
  • #7,668
  • Jan 26, 2009 10:52pm Jan 26, 2009 10:52pm
Quoting RedCabbage
40-50pips available at each level 418 and 400(23.6Fib) - too many bites.

The best reversals come after a strong solid delivery to s/r, this was messy.

Never mind, a tad under 400pips today even after after a couple of losses - hence the wine.

Roll on tomorrow!
Wow. How many pips do you usually get in one day?
  • #7,669
  • Jan 26, 2009 11:05pm Jan 26, 2009 11:05pm
Quoting RedCabbage
40-50pips available at each level 418 and 400(23.6Fib) - too many bites.

The best reversals come after a strong solid delivery to s/r, this was messy.

Never mind, a tad under 400pips today even after after a couple of losses - hence the wine.

Roll on tomorrow!
That is amazing. What stop loss/take profit do you use ? And which time frame do you use to find these support resistance levels?
  • #7,670
  • Jan 26, 2009 11:35pm Jan 26, 2009 11:35pm
Quoting RedCabbage
40-50pips available at each level 418 and 400(23.6Fib) - too many bites.

The best reversals come after a strong solid delivery to s/r, this was messy.

Never mind, a tad under 400pips today even after after a couple of losses - hence the wine.

Roll on tomorrow!
Nice work! I got around 100 over here. Lets keep the pips rollin
  • #7,671
  • Jan 26, 2009 11:49pm Jan 26, 2009 11:49pm
Since Jan 5th using this system I have identified over 350 pips a day on average(net). I take around half of those trades. December was too erratic.

Yesterday I deliberately overtraded to see the results. The biggest problem is managing 10 pairs and 10 trades so I used a 40 ish sl with an 80ish tp for a simple 2:1 RR. I will concentrate on better trade management another day.

To put it all in perspective if I had taken a late entry to the EURCAD set up I posted yesterday I would have made 350+ in one trade in one day.

Libb - next time there's a set up as good as that let's take it!
  • #7,672
  • Jan 26, 2009 11:56pm Jan 26, 2009 11:56pm
Quoting cliffedwards
Interesting day.. stock correlation intact..dayhigh pop through round no...But EYen hasnt followed..so possible retest 311X if S&P falls into close?? watch last 30 minutes..nice rally on dax ...IMHO important where SP closes..
E$ bulls need good close here.. and need to test 33 handle going forward this next few days..Size of US hhdebt getting a lot of scary exposure from the talking heads..BTW G$ looking toppy..wonder if it will actually get to the 40 handle for that bounce ?

RC /smitty...any HiTech TA take .. on this?
I stopped looking into stock correlation,it was very useful but became a distraction. Now I just keep an ear on what the squawk channel says.

Break of 13081 had bullish significancce for me on EURUSD, 33 handle will be tested today but I haven't updated my charts yet.

Cable = a big day already!
  • #7,673
  • Jan 27, 2009 12:03am Jan 27, 2009 12:03am
Quoting RedCabbage
Since Jan 5th using this system I have identified over 350 pips a day on average(net). I take around half of those trades. December was too erratic.

Yesterday I deliberately overtraded to see the results....
That's very nice, RC. I would be very happy with 100 pips a day. I have just started with this since Thursday 22th (3 trading days), averaging 50 pips a day, but I closed too early on some trades, so that's my problem (I also cut my profit short, not only my losses)
  • #7,674
  • Jan 27, 2009 2:01am Jan 27, 2009 2:01am
Heads up on 129.00 on GBPJPY. There's also a 61.8% fib level above that, around 129.40, so that's probably a good range.
  • #7,675
  • Jan 27, 2009 2:02am Jan 27, 2009 2:02am
Damn it.

I should have had more confidence in 14246 which is also a 50% Fib sell trade would have just made 80 pips.

cliffedwards said cable was looking toppy - listen to the guy!
  • #7,676
  • Jan 27, 2009 2:08am Jan 27, 2009 2:08am
Aaah crap! Missed EURUSD at 3310, would've been +50 by now, missed USDCAD at 2160-also would've been more than 50!!!!!

The only one I took today was USDCHF short at 1411

I'll go to sleep and hope for a better tomorrow.
  • #7,677
  • Jan 27, 2009 2:09am Jan 27, 2009 2:09am
Quoting RedCabbage
Damn it.

I should have had more confidence in 14246 which is also a 50% Fib sell trade would have just made 80 pips.

cliffedwards said cable was looking toppy - listen to the guy!
Yeah, I only saw the bounce after it occured, I didn't have my fibs on . I also missed the bounce off 1.3240 on the EURO. I had a line there and a 61.8% fib... Too bad
  • #7,678
  • Jan 27, 2009 2:16am Jan 27, 2009 2:16am
Quoting bumasoft
Yeah, I only saw the bounce after it occured, I didn't have my fibs on . I also missed the bounce off 1.3240 on the EURO. I had a line there and a 61.8% fib... Too bad
How do you get a 61.8 fib at 13240? Can you post a chart?

I'm just interested not critical.
  • #7,679
  • Jan 27, 2009 2:28am Jan 27, 2009 2:28am
Quoting RedCabbage
How do you get a 61.8 fib at 13240? Can you post a chart?

I'm just interested not critical.
It's a longer term fib from the daily chart ( 1.2329 - 1.4719 ). If you still can't find it, I'll post my chart
  • #7,680
  • Jan 27, 2009 2:37am Jan 27, 2009 2:37am
Quoting bumasoft
It's a longer term fib from the daily chart ( 1.2329 - 1.4719 ). If you still can't find it, I'll post my chart
Ah yes I have that from the last uptrend but since the break I am concentrating on fibs from the downtrend. 23.6 is at 13230 not a million miles away.

38.2 is close to 13535 s/r.
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