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  • #1,501
  • Mar 11, 2009 9:18am Mar 11, 2009 9:18am
Quoting ezmystic
Jice trading, I'm not confident enough to pull the trigger so many times yet.
I know how you feel , I mainlly been sitting on the sidelines watching the action gain the trust of what I am seeing.. But it will come.. I also am unlearning other stuff which is the hardest part..
Good Trading To All ; Ken Lee
  • #1,502
  • Mar 11, 2009 9:19am Mar 11, 2009 9:19am
Quoting Infinity
Hey bro! Glad to be here... I've been very busy the past two days.. I still managed to get in some good trades though...
Glad to hear your still getting your pips bro! Understand about being busy, we have to take care of outside business first.
Just digging in the trenches like everyone else!
  • #1,503
  • Mar 11, 2009 9:21am Mar 11, 2009 9:21am
Quoting KENNETH lEE
I know how you feel , I mainlly been sitting on the sidelines watching the action gain the trust of what I am seeing.. But it will come.. I also am unlearning other stuff which is the hardest part..
That's probably the biggest problem most will have is unlearning their prior trading habits. Being that we trade her both ways, it's a different feeling than only sticking with the major trend. I cannot and will not deny that cable is in a major downard trend, but I can't sit on the sides and not make the pips when she's going up.
Just digging in the trenches like everyone else!
  • #1,504
  • Mar 11, 2009 9:22am Mar 11, 2009 9:22am
Quoting Infinity
It was actually 3 trades...4 now... I just closed another long from 3755 at 3785.....

Here's the last two off the m15... My previous 100 pip long was off the h4.

If you need further clarification let me know...
Thanks Infinity, much appreciated.

I notice you have a 50sma and 50ema on your chart. Do you throw more weight to one to the other?

And can I ask what gives you the confidence to long off the 50sma in the face of a big down move like that? Sometimes I see these big moves around news events and going for a reversal when a moving average is hit often turns out to be a bad move. So is it a case of a style of trading that works well outside of news releases? Or was there some other factor that gave you the confidence to long from that position? Maybe a trend line, or the fact price went through both of the 50mas on the way down?

Same question to EO if possible as I believe you also took the trade.

Thanks again for your time and effort guys.
  • #1,505
  • Mar 11, 2009 9:33am Mar 11, 2009 9:33am
Quoting pmn100
Thanks Infinity, much appreciated.

I notice you have a 50sma and 50ema on your chart. Do you throw more weight to one to the other?

And can I ask what gives you the confidence to long off the 50sma in the face of a big down move like that? Sometimes I see these big moves around news events and going for a reversal when a moving average is hit often turns out to be a bad move. So is it a case of a style of trading that works well outside of news releases? Or was there some other factor that gave you the confidence to long from that position?...
News releases are not an item I really tend to worry about. I do know when their coming out and make sure my position, if I'm in one, is covered, but ultimately, it's all about the PA.

The 50sma and 50ema are very similar in weight. If I had to weight one over the other it would be the 50ema. Their both covering the same time period though. We both play the bounce off the 50's/35 and even the cross back against the grain. Their controlled trades. If I'm playing the bounce, I'll hold back on all my fire power to be able to add if she should go and close across the 15m 50/35. I'm watching price to get back on the other side of the 50/35 at that point, otherwise, I'm looking for my escape door to jump out of.
Just digging in the trenches like everyone else!
  • #1,506
  • Mar 11, 2009 9:34am Mar 11, 2009 9:34am
Quoting pmn100
Thanks Infinity, much appreciated.

I notice you have a 50sma and 50ema on your chart. Do you throw more weight to one to the other?

And can I ask what gives you the confidence to long off the 50sma in the face of a big down move like that? Sometimes I see these big moves around news events and going for a reversal when a moving average is hit often turns out to be a bad move. So is it a case of a style of trading that works well outside of news releases? Or was there some other factor that gave you the confidence to long from that position?...
It's not a 100% winner everytime...maybe 90%... but I take it many times without confirmation, managing my risk at the same time... I don't look to enter a trade during high volatility news events.. I normally wait at least 30 minutes or so after releases if I am not already in a trade...

The other factor that gives me confidence to take these trades is based on experience... You must also note that 3750 was also a previous support/resistance area..
Patience + Discipline - Greed = Success
  • #1,507
  • Mar 11, 2009 9:38am Mar 11, 2009 9:38am
eo, infinity,
can I ask does trading off the pa and the wicks being shorter or the same level as the previous wick work well on the longs as well as the shorts?

thanks for your time
please DON'T copy my trades I am still learning
  • #1,508
  • Mar 11, 2009 9:39am Mar 11, 2009 9:39am
Quoting eohater
Nice job! I'm wishing I would have closed mine out now that price is where it's at.
Thanks bro! It looks like it's struggling to get back above the h1 50sma...
Patience + Discipline - Greed = Success
  • #1,509
  • Mar 11, 2009 9:39am Mar 11, 2009 9:39am
Quoting ezmystic
eo, infinity,
can I ask does trading off the pa and the wicks being shorter or the same level as the previous wick work well on the longs as well as the shorts?

thanks for your time
It does for me!
Just digging in the trenches like everyone else!
  • #1,510
  • Mar 11, 2009 9:40am Mar 11, 2009 9:40am
Quoting Infinity
Thanks bro! It looks like it's struggling to get back above the h1 50sma...
I know, the little bugger is being difficult. I've taken some off at 3790, but I'd like to see much higher today.
Just digging in the trenches like everyone else!
  • #1,511
  • Mar 11, 2009 9:42am Mar 11, 2009 9:42am
Quoting ezmystic
eo, infinity,
can I ask does trading off the pa and the wicks being shorter or the same level as the previous wick work well on the longs as well as the shorts?

thanks for your time
Yes it does both ways... the key is knowing when to take profit and cover your position..
Patience + Discipline - Greed = Success
  • #1,512
  • Mar 11, 2009 9:43am Mar 11, 2009 9:43am
Quoting eohater
I know, the little bugger is being difficult. I've taken some off at 3790, but I'd like to see much higher today.
I'm watching this h1 close....
Patience + Discipline - Greed = Success
  • #1,513
  • Mar 11, 2009 9:44am Mar 11, 2009 9:44am
Quoting Infinity
Yes it does both ways... the key is knowing when to take profit and cover your position..
I have a tendancy to cover sometimes a little too quick and get my +3 for millions. Use your ma's though for your TP levels.
Just digging in the trenches like everyone else!
  • #1,514
  • Mar 11, 2009 9:44am Mar 11, 2009 9:44am
cheers guys, tought it did, but wanted to ask to make sure, and so others might know
please DON'T copy my trades I am still learning
  • #1,515
  • Mar 11, 2009 9:45am Mar 11, 2009 9:45am
Quoting Infinity
I'm watching this h1 close....
So am I. We're working on a hangman on the h4.
Just digging in the trenches like everyone else!
  • #1,516
  • Mar 11, 2009 9:46am Mar 11, 2009 9:46am
Quoting eohater
I have a tendancy to cover sometimes a little too quick and get my +3 for millions. Use your ma's though for your TP levels.
+3 ===>

Did somebody say something about triple swap day?
Patience + Discipline - Greed = Success
  • #1,517
  • Mar 11, 2009 9:47am Mar 11, 2009 9:47am
The bottom wick of the 8am est h1 candle has sellers still sitting there. Everytime we get into upper 379x they come back. Not to forget the h1 50sma being there as well.
Just digging in the trenches like everyone else!
  • #1,518
  • Mar 11, 2009 9:47am Mar 11, 2009 9:47am
Quoting Infinity
+3 ===>

Did somebody say something about triple swap day?
Just digging in the trenches like everyone else!
  • #1,519
  • Mar 11, 2009 9:47am Mar 11, 2009 9:47am
Quoting eohater
News releases are not an item I really tend to worry about. I do know when their coming out and make sure my position, if I'm in one, is covered, but ultimately, it's all about the PA.

The 50sma and 50ema are very similar in weight. If I had to weight one over the other it would be the 50ema. Their both covering the same time period though. We both play the bounce off the 50's/35 and even the cross back against the grain. Their controlled trades. If I'm playing the bounce, I'll hold back on all my fire power to be able to add if she should go...
Quoting Infinity
It's not a 100% winner everytime...maybe 90%... but I take it many times without confirmation, managing my risk at the same time... I don't look to enter a trade during high volatility news events.. I normally wait at least 30 minutes or so after releases if I am not already in a trade...

The other factor that gives me confidence to take these trades is based on experience... You must also note that 3750 was also a previous support/resistance area..
Thanks to both of you for the help. Great thread.
  • #1,520
  • Mar 11, 2009 9:51am Mar 11, 2009 9:51am
Look at this one...
Attached Image (click to enlarge)
Click to Enlarge Name: chart.PNG Size: 50 KB
Just digging in the trenches like everyone else!
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