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Petefaders Journal & Open Discussions

  • #621
  • Feb 18, 2009 9:44am Feb 18, 2009 9:44am
Quoting Petefaders
Short 133.57, second position.
out +7
holding second position.
  • #622
  • Feb 18, 2009 9:48am Feb 18, 2009 9:48am
Quoting Petefaders
out +7
holding second position.
out +10


Daily pips: +17
  • #623
  • Feb 18, 2009 9:49am Feb 18, 2009 9:49am
short 133.36
  • #624
  • Feb 18, 2009 9:51am Feb 18, 2009 9:51am
Quoting Petefaders
short 133.36
out +10

Daily pips: +27
  • #625
  • Feb 18, 2009 10:17am Feb 18, 2009 10:17am
short g/j 133.30
  • #626
  • Feb 18, 2009 10:21am Feb 18, 2009 10:21am
Quoting Petefaders
short g/j 133.30
out +13
pulled out early, still dropping

Who can find the volume "give away" candle on, 1min for that quick scalp?...anyone?


Daily pips: +40
  • #627
  • Feb 18, 2009 10:22am Feb 18, 2009 10:22am
just saw you take that trade, nice work, any reason why you were out that early, why not move your Stop/Loss?
  • #628
  • Feb 18, 2009 10:24am Feb 18, 2009 10:24am
sorry, submitted post before fully wrote reply, what is the volume giveaway is it to do with the candlestick formation? For example now I am expecting a bounce back up with the doji forming
  • #629
  • Feb 18, 2009 10:26am Feb 18, 2009 10:26am
Quoting petelearning
just saw you take that trade, nice work, any reason why you were out that early, why not move your Stop/Loss?
yeah, exits are hard for me sometimes, but my reason was simply uncertainty and a quick clicker finger, lol. I hate seeing profit shrink.
Also, just trying to get the daily pip count up with low risk, good entries.


Daily pips: +40
  • #630
  • Edited 12:15pm Feb 18, 2009 10:30am | Edited 12:15pm
Quoting petelearning
sorry, submitted post before fully wrote reply, what is the volume giveaway is it to do with the candlestick formation? For example now I am expecting a bounce back up with the doji forming
The 1min chart "give away" candle was at 18:15 (15 mins ago from now)
looks like just another candle, right? But the VOLUME was higher than the 10 previous candles, meaning there was a big increase in activity..otherwise it would go unoticed by non vlme watchers.

EDIT: The chart showing this is on the next page, post #637.
  • #631
  • Feb 18, 2009 10:35am Feb 18, 2009 10:35am
What do you use for volume pete just standard mt4 or other,Francis
  • #632
  • Feb 18, 2009 10:38am Feb 18, 2009 10:38am
Quoting Petefaders
The 1min chart "give away" candle was at 18:15 (15 mins ago from now)
looks like just another candle, right? But the VOLUME was higher than the 10 previous candles, meaning there was a big increase in activity..otherwise it would go unoticed by non vlme watchers.
Please show a chart of this Pete

thanks
  • #633
  • Feb 18, 2009 10:39am Feb 18, 2009 10:39am
Quoting francis2
What do you use for volume pete just standard mt4 or other,Francis
Hi Francis, thanks for posting.
Yes, just the regular "volumes" indicator, mt4.
I messed with the asthectis, to make it look like this..
http://www.forexfactory.com/showpost...&postcount=505
  • #634
  • Feb 18, 2009 10:40am Feb 18, 2009 10:40am
Quoting FOURX
Please show a chart of this Pete

thanks
ok ok, I'll stop being lazy..one sec.
  • #635
  • Feb 18, 2009 10:42am Feb 18, 2009 10:42am
cheers pete, lol youd messed with them so much i couldnt see the ##### things talk about wood for the trees !!
  • #636
  • Feb 18, 2009 10:50am Feb 18, 2009 10:50am
So pete, looking at volume am I correct in assuming that volume spike is good at overbought /sold areas, either volume after the event leading to a buy /sell or volume spike at end of move ie exhaustion which could lead us to take reversal buy/sell, Francis
  • #637
  • Feb 18, 2009 10:55am Feb 18, 2009 10:55am
Quoting Petefaders
The 1min chart "give away" candle was at 18:15 (15 mins ago from now)
looks like just another candle, right? But the VOLUME was higher than the 10 previous candles, meaning there was a big increase in activity..otherwise it would go unoticed by non vlme watchers.
This in itself was not the entry signal, but a heads up. I had to see sellers maintain controll on next candle, which they did.
http://g.imagehost.org/0349/vlme6.jpg
*notice same exact thing in reverse, buy signal 11 candles back.
  • #638
  • Edited 11:58am Feb 18, 2009 11:04am | Edited 11:58am
Quoting francis2
So pete, looking at volume am I correct in assuming that volume spike is good at overbought /sold areas, either volume after the event leading to a buy /sell or volume spike at end of move ie exhaustion which could lead us to take reversal buy/sell, Francis
Yes, a volume spike can signal a reversal, but the candle that goes with that spike, must be in the direction of the reversal, or a doji, for me to consider a reversal entry.

Edit: Sorry for the slow trading today guys, I'm kinda busy with other stuff. Will answer questions though, and look for trades when I can.


Daily pips: +40
  • #639
  • Feb 18, 2009 12:23pm Feb 18, 2009 12:23pm
short g/j 133.43, vlme setup.
  • #640
  • Edited 1:07pm Feb 18, 2009 12:41pm | Edited 1:07pm
Quoting Petefaders
short g/j 133.43, vlme setup.
out +5, looks stuck.. being carefull, selling vlme has dropped.


Daily pips: +45

EDIT: I gotta run, I'll be back for Aisa.
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