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  • #67,901
  • Feb 23, 2009 5:36am Feb 23, 2009 5:36am
As I like to do it, The Stairway of Fibs, Look how consistant this Daily move down has been.

Aj
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Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #67,902
  • Feb 23, 2009 5:37am Feb 23, 2009 5:37am
Quoting adetolub
please how do you calculate your risk to reward ratio?
Lol....well if you are going to take a trade...and are using a 40pip stop....and you are only targetting 30 pips profit? why bother taking the trade...not worth your time.


You want trades were your risk to reward is like 1:2, 1:3 +

Where your stop is like 30 pips and your target is around 60 or 100
Going to make it big by age 21.
  • #67,903
  • Feb 23, 2009 5:38am Feb 23, 2009 5:38am
Quoting adetolub
please how do you calculate your risk to reward ratio?

its simply having a fixed rule of how much u r willing to lose vs win each time..

for eg.. u r inconstant, with each trade taking different SL or TP, you may one day end with a trade which set you back so much that u can never stand again !
  • #67,904
  • Feb 23, 2009 5:41am Feb 23, 2009 5:41am
careful with shorts now... GBPUSD is going up...
all this sell was euro weakness.. not dollar strength...

and US session could reverse this...
  • #67,905
  • Feb 23, 2009 5:42am Feb 23, 2009 5:42am
Quoting emda
careful with shorts now... GBPUSD is going up...
all this sell was euro weakness.. not dollar strength...

and US session could reverse this...
Correlation is very weak today but you could be right...EU has been dropping all london session and cable has been going up...usually showing the correlation is weak.

Im interested in seeing what the Dow does today...if the dow falls some more we will retest the 2550 level in my opinion.

Also the 15min chart looks to have bottomed and start to go up but im waiting a little more.
Going to make it big by age 21.
  • #67,906
  • Feb 23, 2009 5:46am Feb 23, 2009 5:46am
Quoting dstryr
What time frame are you looking at? I dont see anything turning north? Looking again i do see the 15min at the bottom of its channel but the hour and 30 minutes have a long way to go so ill hold for a bit.

Enter a trade on a certain TF and exit on the same TF.
when we have fast moving pa i like to check out the shorter timeframe (5min chart)...heres what i mean...

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Different opinions highly valued, ignorant to slander.
  • #67,907
  • Feb 23, 2009 5:46am Feb 23, 2009 5:46am
Quoting dstryr
Correlation is very weak today but you could be right...EU has been dropping all london session and cable has been going up...usually showing the correlation is weak.

Im interested in seeing what the Dow does today...if the dow falls some more we will retest the 2550 level in my opinion.

Also the 15min chart looks to have bottomed and start to go up but im waiting a little more.
right now...
Dow Jones +80.00 7432.00
  • #67,908
  • Feb 23, 2009 5:47am Feb 23, 2009 5:47am
Quoting psiholog
when we have fast moving pa i like to check out the shorter timeframe (5min chart)...heres what i mean...
you dont find that the 5min chart whipsaws you all over the place?
Going to make it big by age 21.
  • #67,909
  • Feb 23, 2009 5:48am Feb 23, 2009 5:48am
Quoting emda
right now...
Dow Jones +80.00 7432.00
How is that even possible? it isnt open yet?
Going to make it big by age 21.
  • #67,910
  • Feb 23, 2009 5:50am Feb 23, 2009 5:50am
Quoting dstryr
you dont find that the 5min chart whipsaws you all over the place?
my methods rely on how fast pa is moving. when pa moves 200pips up in 20minutes as it did friday...i check out the 1min charts. when pa moves 20pips in 5 hours as it does in most asian sessions..i check out the hourly charts...when pa moves as it has for the past few hours...i check out the 5min charts. adaptation to the situation is what i do...and this situation calls for the 5min charts
Different opinions highly valued, ignorant to slander.
  • #67,911
  • Feb 23, 2009 5:51am Feb 23, 2009 5:51am
Quoting dstryr
Why would you take a trade where your risk is more than your reward? doesnt make any sense?
1.2 stop is 60 . i wrong write
you are the only one , who creates your reality .
  • #67,912
  • Feb 23, 2009 5:52am Feb 23, 2009 5:52am
Quoting dstryr
How is that even possible? it isnt open yet?

Pre-market, and S&P: +9.4
  • #67,913
  • Feb 23, 2009 5:53am Feb 23, 2009 5:53am
Quoting dstryr
How is that even possible? it isnt open yet?
It's pre-market (futures) -> http://money.cnn.com/data/premarket/
  • #67,914
  • Feb 23, 2009 5:54am Feb 23, 2009 5:54am
Quoting psiholog
my methods rely on how fast pa is moving. when pa moves 200pips up in 20minutes as it did friday...i check out the 1min charts. when pa moves 20pips in 5 hours as it does in most asian sessions..i check out the hourly charts...when pa moves as it has for the past few hours...i check out the 5min charts. adaptation to the situation is what i do...and this situation calls for the 5min charts
what do you see on the daily and 4hr charts?
Going to make it big by age 21.
  • #67,915
  • Feb 23, 2009 6:01am Feb 23, 2009 6:01am
Quoting dstryr
what do you see on the daily and 4hr charts?
i dont follow the daily and 4h charts too much. thats because my broker is ibfx and the live feed of when daily/4h candlesticks close/open is very different then when the real market closes/opens them. in another words..the start of one day for me is probably different then the start of lets say someone in australia. we were however in a trend down (black lines) and after breaking thhose we are currently in a consolidation at the low in what could become another bear flag (red lines). still....i done use these as a guide for my trading and instead use them as an idea of what could potentiall happen next. Everything is screaming short short with a potential retap of the 1.3100 level

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Different opinions highly valued, ignorant to slander.
  • #67,916
  • Feb 23, 2009 6:03am Feb 23, 2009 6:03am
Quoting psiholog
i dont follow the daily and 4h charts too much. thats because my broker is ibfx and the live feed of when daily/4h candlesticks close/open is very different then when the real market closes/opens them. in another words..the start of one day for me is probably different then the start of lets say someone in australia. we were however in a trend down (black lines) and after breaking thhose we are currently in a consolidation at the low in what could become another bear flag (red lines). still....i done use these as a guide for my trading and instead...
Couldnt agree more
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Going to make it big by age 21.
  • #67,917
  • Feb 23, 2009 6:05am Feb 23, 2009 6:05am
double reading that post i see all the errors. it is 4 am here so im taking my drunk ass to sleep. good pippin all....my "forecast" for the us session is consolidation in the area we are in now betwen 1.2760 and 1.3100 (at best)...with a potential breakout to the downside.
Different opinions highly valued, ignorant to slander.
  • #67,918
  • Feb 23, 2009 6:06am Feb 23, 2009 6:06am
Quoting psiholog
double reading that post i see all the errors. it is 4 am here so im taking my drunk ass to sleep. good pippin all....my "forecast" for the us session is consolidation in the area we are in now betwen 1.2760 and 1.3100 (at best)...with a potential breakout to the downside.
you must be in california like me....haha. Take it easy man.
Going to make it big by age 21.
  • #67,919
  • Feb 23, 2009 6:07am Feb 23, 2009 6:07am
Maybe from the 1.2837!!!!

Good Trading.
Good Trading. (keep it simple).
  • #67,920
  • Feb 23, 2009 6:41am Feb 23, 2009 6:41am
Shorted at 1.2815, a continuation of the down,I Hope!!!

Good Trading.
Good Trading. (keep it simple).
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