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  • #1,181
  • Mar 25, 2009 7:50am Mar 25, 2009 7:50am
Quoting strat
Which "euro" - EURUSD or EURJPY or EURGBP or EURCHF or EURAUD?

Why would any IB be bearish?

Indicators show over sold what you think
Trade less make more!
  • #1,182
  • Edited 8:21am Mar 25, 2009 8:07am | Edited 8:21am
Quoting strat
Was it get filled first THEN enter your SL?
que? non capito

Its my last chunk..

i could not decide wether to T/P and never lose or suffer the knee hugging on that chunk and win more in the long run.

I have been playing with this for ages and ive been noting the out comes and a daily bar stop on my last chunk is the winner but i coudnt put my finger on it.

You pointed the way.

Its been bugging me for ages.

And it works with my standard managment and risk profiles....nice
  • #1,183
  • Mar 25, 2009 8:11am Mar 25, 2009 8:11am
Quoting doughnut
Indicators show over sold what you think
Strat, and the majority of people in this thread, don't use indicators. The closest they come is a couple of MAs for general trend direction. They're not trade triggers.

The thing with a stochastic (I'm assuming that's what you are using as that's the most common overbought/oversold indicator) is that it can tell you "oh this market is so oversold" but price will continue going in that direction for awhile. You can't base your entire market analysis on just that one indicator as you seem to be doing here.

Assuming that "euro" means EUR/USD, I think we're pausing before the next leg up to test the middle swing point of the DB formation. A close over 1.3700 would trigger me long with a TP around 1.4300. It would take a close below 1.3350, the nearest major support area, for me to short with a TP at 1.2850. This is all based on simple principles of S/R and price action. No indicators.
  • #1,184
  • Mar 25, 2009 8:32am Mar 25, 2009 8:32am
Quoting thegunslinger
Strat, and the majority of people in this thread, don't use indicators....
When you mean close do you use daily or 4 hour
Thanks
Trade less make more!
  • #1,185
  • Mar 25, 2009 8:40am Mar 25, 2009 8:40am
Well, as I take one last look at the Queen of Hearts before visiting the Land of Nod, I see that the figures released today have had no impact (as at 9:36am NY).

If this holds through the NY session , there are so many opportunities that we can pick the cream of the crop from:

AUDUSD
CHFJPY
EURUSD
USDCAD
USDJPY
AUDJPY
NZDJPY
NZDUSD
AUDCAD
GBPAUD

Wait for the NY close and don't jump the gun
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,186
  • Mar 25, 2009 8:43am Mar 25, 2009 8:43am
Quoting doughnut
eur usd it looks to me like inside bar

Thanks
Not IB on my data feed
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,187
  • Mar 25, 2009 8:48am Mar 25, 2009 8:48am
Quoting doughnut
Indicators show over sold what you think
It seems like you have just turned to the last page so I suggest you take the Path of Learning and go to the Beginning.

There you will find what I think
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,188
  • Mar 25, 2009 8:50am Mar 25, 2009 8:50am
Quoting doughnut
When you mean close do you use daily or 4 hour
Thanks
It seems like you have just turned to the last page so I suggest you take the Path of Learning and go to the Beginning.

There you will find the answers to your questions
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,189
  • Mar 25, 2009 9:58am Mar 25, 2009 9:58am
Ive been analysing some of my trades on my demo account and I am thinking Im not trading enough, im doing trades on the daily timeframes but in a week or 2 have only done a handful of trades. This made me wonder in an average week how many trades to you guys actually do?
  • #1,190
  • Mar 25, 2009 10:07am Mar 25, 2009 10:07am
as far as I'm concerned...quality is far more important than quality...give me 2 or 3 good trades a week or even 1 if the market doesn't give anything else over x trades giving you small profits and an enormously larger bias towards bad trades....
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #1,191
  • Edited 10:33am Mar 25, 2009 10:09am | Edited 10:33am
Quoting strat
I have been compiling a list of "To Dos" from things I have been requested and things I think I should follow up on. Since this thread is taking over my life, I need to start prioritising.

For those that are "family" and "team members" on here, (lurkers go forth and multiply), here is my "To Do List". Let me know what is important for you and I will either dig it out from my files or write it up from the annals of my mind:

Support and Resistance
Dr. Joe does electronic trading
Reading and understanding - NO flash reading
Price candle...
Ive been trying to trade differently by thinking about my potential loss rather than the potential profits. In trying to set the amount of risk the stop loss is obviously important. What I would find helpful is advice on the techniques you guys use of setting a stop loss.
  • #1,192
  • Mar 25, 2009 10:10am Mar 25, 2009 10:10am
It's still pretty early (3pm GMT), but USDCHF is shaping up to be a nice DBHLC.

Strong support at 1.1150 but if it can move beneath this it has some way to fall (IMO).
  • #1,193
  • Mar 25, 2009 10:33am Mar 25, 2009 10:33am
Quoting strat
Ticket to Ride - the lads from the "Pool except there's only 2 left now. One dyes his hair many colours while the other is still learning to play the drums
Strat - I'm a former drummer from the same era and I would whole-heartedly agree with your drummer analysis. He never could play and never will. Can't sing either.
"Money is easy to make, but hard to keep" - FWV 1975
  • #1,194
  • Mar 25, 2009 10:40am Mar 25, 2009 10:40am
Quoting el_duende
Ive been trying to trade differently by thinking about my potential loss rather than the potential profits. In trying to set the amount of risk the stop loss is obviously important. What I would find helpful is advice on the techniques you guys use of setting a stop loss.
If you look thru the thread you will see many conversations regarding where to place your stops depending on the PA formation, SR and other key levels.

More importantly you will see how to size your position and opt out of trades depending on the placement of that stop loss.

I think position size based on your stop and using position size to compound your account is a very important subject to spend time learning. It will make all the difference in growing and / or saving your hard earned dollars.

Lance
  • #1,195
  • Mar 25, 2009 10:43am Mar 25, 2009 10:43am
Quoting bjohn34
Strat - I'm a former drummer from the same era and I would whole-heartedly agree with your drummer analysis. He never could play and never will. Can't sing either.
One of my favourite quotes is when a journalist asked John Lennon if Ringo was the best drummer in the world and he replied ‘He’s not even the best drummer in The Beatles!’
  • #1,196
  • Mar 25, 2009 10:54am Mar 25, 2009 10:54am
Fresh out of the oven with all the new stories, quotes and quips.

Even G's...

The next project is to add a translator to the index to cut down the time it takes to decipher G's posts.
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  • #1,197
  • Mar 25, 2009 11:38am Mar 25, 2009 11:38am
(USDCHF
It's still pretty early (3pm GMT), but USDCHF is shaping up to be a nice DBHLC.

Strong support at 1.1150 but if it can move beneath this it has some way to fall (IMO).)

Possibly - for a DBHLC it needs to close lower than the tail of the previous bar; Take a look at how it's tested the BOSS 50 - it's touched several times. Daily the 20/50 have crossed down. On the chart I've marked the PPZ area (J16 - I know we don't strictly refer to them here, but it helps me to determin PA and confimation for a trade) Also check out the Monthly, a massive BEOB shaping up for March. I need to wait for good PA for confirmation.

I'm watching several at the moment and will log back online later tonight at 11pm to see how things look for setups.
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  • #1,198
  • Mar 25, 2009 2:09pm Mar 25, 2009 2:09pm
So much PA lining up tonight i don't know where to start!

I hope Strat gets up early tonight/this morning...you all know what i mean!
  • #1,199
  • Mar 25, 2009 2:17pm Mar 25, 2009 2:17pm
Quoting AstonDan
So much PA lining up tonight i don't know where to start!

I hope Strat gets up early tonight/this morning...you all know what i mean!
I thought the point of this was to learn how we can do the analysis by ourselves! Let's each take a pair and analyze what we've got, strat can toss in corrections where we go wrong!

I'll take GBP/CHF. I've been watching it for awhile...
Bang.
  • #1,200
  • Mar 25, 2009 2:19pm Mar 25, 2009 2:19pm
OK, USD/CHF seems at an interesting point to me...
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