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  • #6,961
  • Mar 11, 2009 10:01am Mar 11, 2009 10:01am
@ money4nothing sir

i completelty agree with u sir... was ur post a general comemnt or was it an answer to the day light saving question
Knock at the sky and feel the thunder
  • #6,962
  • Edited 10:18am Mar 11, 2009 10:05am | Edited 10:18am
The times that matter are the London session open time and your broker's server time. That will determine where on your chart the London session begins. Your local time doesn't matter. Look at the bar time when London opens to know what time to start.

http://i43.tinypic.com/jicnpk.gif


SETUP...

http://i43.tinypic.com/m8mkom.gif
TRO
  • #6,963
  • Mar 11, 2009 10:10am Mar 11, 2009 10:10am
@ money4nothing

sir ... i do not have the template that u are using ....please do not mind sharing it ... it is very beneficial to have all the information on the chart available as u have ..please do share


Simple
Knock at the sky and feel the thunder
  • #6,964
  • Mar 11, 2009 11:05am Mar 11, 2009 11:05am
USD JPY... rockedddddddddddddddddddddddddd


did anyone trade the breakdown ???


simple
Knock at the sky and feel the thunder
  • #6,965
  • Mar 11, 2009 11:44am Mar 11, 2009 11:44am
Quoting simply123
USD JPY... rockedddddddddddddddddddddddddd


did anyone trade the breakdown ???


simple
Hi there:
I sure did, nice not to sleep through all the good trades. If folks don't mind, I'll repeat an earlier question. In the example of this Yen trade, how would you trail the stop? Peter Crown's method, 20SMA on daily chart, or something else? Thanks for the help and nice catch.

Jim
  • #6,966
  • Mar 11, 2009 11:58am Mar 11, 2009 11:58am
Quoting bigjim1958
Hi there:
I sure did, nice not to sleep through all the good trades. If folks don't mind, I'll repeat an earlier question. In the example of this Yen trade, how would you trail the stop? Peter Crown's method, 20SMA on daily chart, or something else? Thanks for the help and nice catch.

Jim
Trail?

You take half your position off at a RR of 1:1.

You then set your stop at B/E and let it run.

Perhaps at 2:1, you take 1/4 position off and move your stop to 1:1.

Just an idea...
TRO
  • #6,967
  • Mar 11, 2009 1:40pm Mar 11, 2009 1:40pm
only lossess need to be managed.... profit take care of themselves


PS:- by the way whats the maximum loss that u have ever made in a day ??? for me its 250$ ouch!!!!
Knock at the sky and feel the thunder
  • #6,968
  • Edited 11:02pm Mar 11, 2009 10:32pm | Edited 11:02pm
Re; OUCH!!!

Quote
PS:- by the way whats the maximum loss that u have ever made in a day ??? for me its 250$ ouch!!!!
Maximum loss was trading futures and options, Lost about 37,000 USD in the late 90s during a one month period, funny thing is that if I had enough capital I could have put the same position on during the next month and made it all back plus some.

Then I started to learn about a controling risk
  • #6,969
  • Mar 12, 2009 4:28am Mar 12, 2009 4:28am
I am now checking the 4hr and daily timeframes for IBs.

After a couple of losers and one winner today, I spotted the guppy move, then realised the IB and trendline break and managed to grab 120 pips off this 4hr IB. Got in late, could have been almost double. Used the Sunday open as reference.
Attached Image
  • #6,970
  • Mar 12, 2009 6:47am Mar 12, 2009 6:47am
hi friends.. am back from my day job .. did anyone take the EURUSD breakdown today ??? another trigger at 1.2781..

ur comments please

friends i use the following trigger .... low value - 1 pip -spread..that would be the entry point ... any other that u use


EDIT:- Me stopped out
Knock at the sky and feel the thunder
  • #6,971
  • Mar 12, 2009 6:58am Mar 12, 2009 6:58am
Quoting simply123
hi friends.. am back from my day job .. did anyone take the EURUSD breakdown today ??? another trigger at 1.2781..

ur comments please

friends i use the following trigger .... low value - 1 pip -spread..that would be the entry point ... any other that u use


EDIT:- Me stopped out
I didn't wake up until 6.05gmt, despite my alarm going off, and missed that one. It had moved too much for me to get in. I would certainly have taken it.

Stayed out of the second signal as there is support closeby.
  • #6,972
  • Mar 12, 2009 7:01am Mar 12, 2009 7:01am
Oh..goodness that i was stopped out see it rallying now
Knock at the sky and feel the thunder
  • #6,973
  • Mar 12, 2009 7:05am Mar 12, 2009 7:05am
Quoting simply123
hi friends.. am back from my day job .. did anyone take the EURUSD breakdown today ??? another trigger at 1.2781..

ur comments please

friends i use the following trigger .... low value - 1 pip -spread..that would be the entry point ... any other that u use


EDIT:- Me stopped out
Simply, can you post a chart? I cannot see any trade @ 2781
  • #6,974
  • Mar 12, 2009 7:08am Mar 12, 2009 7:08am
here is the chart..the checksign was my entry point
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 29 KB
Knock at the sky and feel the thunder
  • #6,975
  • Mar 12, 2009 7:12am Mar 12, 2009 7:12am
good that i did not take the gbp usd trade ...... otherwise that wud have been stopped out too
attaching the gbpusd chart too ... the checksign was the trigger point


Simple
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 29 KB
Knock at the sky and feel the thunder
  • #6,976
  • Mar 12, 2009 7:20am Mar 12, 2009 7:20am
@ dale sir

"Maximum loss was trading futures and options, Lost about 37,000 USD in the late 90s during a one month period, funny thing is that if I had enough capital I could have put the same position on during the next month and made it all back plus some."

Sir.. u certainly are a very big fish ( or should i say a whale ) .. i am a small trader compared to u
Knock at the sky and feel the thunder
  • #6,977
  • Mar 12, 2009 7:24am Mar 12, 2009 7:24am
Quoting simply123
here is the chart..the checksign was my entry point
ok Simple, firstly that trade was against the opening
secondly, it smacked itself on the 50MA
I tend to look on all TF before going in
  • #6,978
  • Mar 12, 2009 7:27am Mar 12, 2009 7:27am
Quoting simply123
good that i did not take the gbp usd trade ...... otherwise that wud have been stopped out too
attaching the gbpusd chart too ... the checksign was the trigger point


Simple
correct
there is a daily pivot @ 3804, also against the opening
  • #6,979
  • Mar 12, 2009 7:29am Mar 12, 2009 7:29am
Quoting croesesFX
firstly that trade was against the opening
Could not get u sir ..opening line was the white dotted line above ..since the IB break down price was below the opening so took the short... ( the orangish line was the trigger line )

anything wrong in the application of the system or do i have to read from the beginning once again ??
Knock at the sky and feel the thunder
  • #6,980
  • Mar 12, 2009 7:34am Mar 12, 2009 7:34am
Quoting simply123
Could not get u sir ..opening line was the white dotted line above ..since the IB break down price was below the opening so took the short... ( the orangish line was the trigger line )

anything wrong in the application of the system or do i have to read from the beginning once again ??
sorry thought you took the long as per your tick on the chart
why were you then stopped out on the short?
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