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  • #10,001
  • Mar 26, 2009 5:35am Mar 26, 2009 5:35am
Quoting Shermenator
if your in already your not in a clear market ...I would of gotten out already...if your going to get in your trading a tight range....thats unclear...goodluck
I'm not in, do u think it's better to stay out due the tight rage?
  • #10,002
  • Mar 26, 2009 5:41am Mar 26, 2009 5:41am
I'm just demoing this method but Im looking 13420 area to go long, and normaly I put SL below previous swing low {for longs}. This case is not very clear to me, maybe I would place SL below 13480

Quoting lastfabio
Hi, I have just taken a look to previous candlesticks around 1.3538 and I saw that SL can be safe at 13514, just my opinion. What do u think about? I'm here to learn
  • #10,003
  • Mar 26, 2009 5:44am Mar 26, 2009 5:44am
USD
Unemployment Claims

does anyone think it will cause a stir in da market perhaps?
  • #10,004
  • Mar 26, 2009 5:55am Mar 26, 2009 5:55am
Yes there is a strong support at 13420, but there r many other trendlines before it to enter a trade. About your SL below 13480, in my opinion it's too far to enter a trade and R/R doesn't worth because the close oblique trentline that can be a resistence.

Quoting alter
I'm just demoing this method but Im looking 13420 area to go long, and normaly I put SL below previous swing low {for longs}. This case is not very clear to me, maybe I would place SL below 13480
  • #10,005
  • Mar 26, 2009 6:10am Mar 26, 2009 6:10am
I would like to ask a question, probably of you Shermenator, as I have been watching your usdcad trade for almost a week now. How do you cope with the fact that it has been going nowhere for so long. Do you have a way of being able to put it to the side and get on with something else. I find this is the biggest problem I have. Needless to say I have not been doing a whole lot with the way the market has been going sideways. If you have a strategy for a ranging market, a tight ranging market, then I would be all ears. I guess as I write this I probably already know the answer. Would it be to just walk away and not trade at all.
  • #10,006
  • Mar 26, 2009 6:11am Mar 26, 2009 6:11am
I have cancelledmy limit orders simply because the market missed my orders by about 10 pips ...and feel very hard meaning the orders got placed below te spot I believed it should of gone to ...as well if price goes back upto that area it will changing sentiment a bitt for me at that point...
  • #10,007
  • Edited 6:33am Mar 26, 2009 6:21am | Edited 6:33am
Quoting Tori
I would like to ask a question, probably of you Shermenator, as I have been watching your usdcad trade for almost a week now. How do you cope with the fact that it has been going nowhere for so long. Do you have a way of being able to put it to the side and get on with something else. I find this is the biggest problem I have. Needless to say I have not been doing a whole lot with the way the market has been going sideways. If you have a strategy for a ranging market, a tight ranging market, then I would be all ears. I guess as I write this I probably...
Well you see the market has differnt agendas and each timeframe is doing its own thing...when someone takes a weekly chart trade they put the trade and dont look at anything in between and just that timeframe if they dont desire to trade the waves inside of the week. If you take a look at this entire weeks movement and look at it from a weekly chart its nothing . I take trades from several timeframes and manage them of their own. They each have their each stop and limit. For example when I took that long term trade I knew the market could go against me easily 100 pips since that why I am in a weekly trade and that is part of the risk I take when just taking the trade. By knowing this I know if I want to I can go to a smaller timeframe and at the same time trade the waves against my longterm long and make money on those waves as well. By no means I am hedging since I could loose my short and as well loose my long term long ...
  • #10,008
  • Edited 6:41am Mar 26, 2009 6:23am | Edited 6:41am
Quoting Shermenator
Well you see the market has differnt agendas and each timeframe is doing its own thing...when someone takes a weekly chart trade they put the trade and dont look at anything in between and just that timeframe if they dont desire to trade the waves inside of the week. If you take a look at this entire weeks movement and look at it from a weekly chart its nothing . I take trades from several timeframes and manage them of their own. They each have their each stop and limit. For example when I took that long term trade I knew the market could go against...
In other words I can get a pair and be in all year with out ever having to be out of it...you can just grab one pair and dominate that puppy. You never have to be out of the pair. In this case I have been trading preetymuch all the usdcad waves for the past week or so. So preetymuch my attention is on this pair since you dont need more.
  • #10,009
  • Mar 26, 2009 6:29am Mar 26, 2009 6:29am
Hey tori you got skype by te way?
  • #10,010
  • Mar 26, 2009 6:32am Mar 26, 2009 6:32am
Thanks for the concise reply. It was good of you.
  • #10,011
  • Mar 26, 2009 6:56am Mar 26, 2009 6:56am
This is something I am looking into getting myself into ...

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  • #10,012
  • Mar 26, 2009 7:07am Mar 26, 2009 7:07am
Alright I am up 14 pips in my first short will say when I move stop to break even...
  • #10,013
  • Mar 26, 2009 7:13am Mar 26, 2009 7:13am
alright I am now out with 18 with pips news is around the corner...been a while since I get one to the pip...
  • #10,014
  • Mar 26, 2009 7:32am Mar 26, 2009 7:32am
Iam in it again now...

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  • #10,015
  • Mar 26, 2009 7:37am Mar 26, 2009 7:37am
Alright I have closed again with another 14 pips ...like stealing candy from a baby lol
  • #10,016
  • Mar 26, 2009 7:42am Mar 26, 2009 7:42am
Quoting Shermenator
Alright I have closed again with another 14 pips ...like stealing candy from a baby lol
Are you looking at a 5m chart to get in and out of the trade fairly quickly?
  • #10,017
  • Mar 26, 2009 7:44am Mar 26, 2009 7:44am
Hi Friends......
How are you all? Seems like nearly no setups to initiate today. Would like to request your remarks on this set up........
Thank you guys
Happy piping
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BANDA333
  • #10,018
  • Mar 26, 2009 7:44am Mar 26, 2009 7:44am
Quoting Concept
Are you looking at a 5m chart to get in and out of the trade fairly quickly?
Nope...I am just looking at the condition the market is offering and adjusting to them.
  • #10,019
  • Mar 26, 2009 7:46am Mar 26, 2009 7:46am
Quoting Shermenator
Nope...I am just looking at the condition the market is offering and adjusting to them.
Ic... I went long GBP/USD at 4571 and I am up 25 pips atm...
What do you mean by 'condition'?
  • #10,020
  • Mar 26, 2009 7:57am Mar 26, 2009 7:57am
Closed trade at 4620 for 51 pips.
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