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Silent Service Method

  • #1,141
  • Apr 18, 2009 1:42am Apr 18, 2009 1:42am
Quoting clockwork71
I don't take trades based on the opening typically. If I was to short it - it would be based off of a smaller time frame, that coincides with this chart. (If that made sense...)
In the 4 hour chart, there is a LTL. A break, a retest then a continuation would be the signal? This is similar to the trade plan on UCAD in the daily time frame which was posted earlier I think this would be my plan, of course, with the expectation that price will drop to the next support line.

Do you still maintain this view? i.e, price dropping off? Thanks
  • #1,142
  • Apr 18, 2009 3:30am Apr 18, 2009 3:30am
Quoting clockwork71
Some of the shadier MT4 brokers allow trading "CFD's" which track the stock prices......North Finance, Delta, and a few others out there do it.....

NF was a great demo account for me
Thanks CW, I've been scoping it out - My live account offers Silver and Gold which I never even knew I had before.

I have used NF for demo accounts as well - I am using Alpari for my live account, it is great, never once had a problem and I've had it for nearly 1 year now with 388 trades done.

Cheers,
  • #1,143
  • Apr 18, 2009 8:47am Apr 18, 2009 8:47am
Quoting VitaminBeer
Thanks CW, I've been scoping it out - My live account offers Silver and Gold which I never even knew I had before.

I have used NF for demo accounts as well - I am using Alpari for my live account, it is great, never once had a problem and I've had it for nearly 1 year now with 388 trades done.

Cheers,

I should note that U.S. residents are not allowed to trade CFD's. I don't know why, we just aren't.
  • #1,144
  • Apr 18, 2009 8:49am Apr 18, 2009 8:49am
Quoting hartnet
In the 4 hour chart, there is a LTL. A break, a retest then a continuation would be the signal? This is similar to the trade plan on UCAD in the daily time frame which was posted earlier I think this would be my plan, of course, with the expectation that price will drop to the next support line.

Do you still maintain this view? i.e, price dropping off? Thanks
I don't really have a view of dropping off, just that I am "biased" towards it. I don't want anyone to read too much into me saying something like that...I will let the charts tell me what's going to happen. At the moment it looks weak, but that could change in an instant.

CW
  • #1,145
  • Apr 18, 2009 6:40pm Apr 18, 2009 6:40pm
Quoting clockwork71
I don't really have a view of dropping off, just that I am "biased" towards it. I don't want anyone to read too much into me saying something like that...I will let the charts tell me what's going to happen. At the moment it looks weak, but that could change in an instant.

CW
Hi CW,

Your bias is enough for me
  • #1,146
  • Apr 19, 2009 9:40am Apr 19, 2009 9:40am
This one is approaching a very interesting area..... 1.75 should be an area to watch in my opinion.
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  • #1,147
  • Apr 19, 2009 10:56am Apr 19, 2009 10:56am
I just wanted to add my gratitude and say that I am watching this thread.

Like Jigsaw I too have read just about everything Chris has ever written both here and on the J16 PF, and it truly is gold dust.

I'm in the process of learning to trade forex dailies and weeklies (been around a while but had to take a little time away from trading for personal reasons.... life always comes first in my book) and this stuff is the easiest and best I have found. Well, when I say easy, I mean it like james16 says when he says this is "the hardest easy money you'll ever make".

When I'm adept and profitable at daily and weekly forex, I'm going to move to daily and weekly stocks, futures, commodities. I prefer to widen my remit before I drop down timeframes. With all the instruments we can trade, dailies and weeklies will provide more than enough opportunities to find my rifle shots.

And as for Chris' returns, believe me guys, 2% or thereabouts a month, consistently, is the holy grail of hedge fund managers. Think of it this way. Bernie Madoff ran a giant ponzi scheme tempting some serious investors with his "unbelievable" returns. And guess what he was producing? 10% a year. That's right. Under 1% a month. So what Chris is doing puts him in the very very top rank of financial professionals. And he (and James16) are sharing it for free.

Thanks Chris.
  • #1,148
  • Apr 19, 2009 11:33am Apr 19, 2009 11:33am
Quoting clockwork71
This one is approaching a very interesting area..... 1.75 should be an area to watch in my opinion.
That's right CW.... I was expecting the traffic slow down... Some realize that there's no Holy Grail coming from this thread faster, others slower, but most of them leave... The remaining are those who probably knew since the beginning that you would never drop here the Holy Grail, and (fortunately, like me), are silently increasing our odds in the "game" with you great help...

Cheers!
Many share my views with me. But I don't share them with them...
  • #1,149
  • Apr 19, 2009 11:44am Apr 19, 2009 11:44am
Quoting clockwork71
Neither this thread or the James16 thread are the correct place to ask this question. (I saw you posted the same exact post there as well.) There is a forum area for brokers, why not ask there?
i am new to this and recognize there is a lot i dont know and need to learn. imho who we trade w/ is the most important decision we make. you & the sr.'s at j16 are the the traders i respect & look-up to the most. i value your wisdom and opinions on all matters. thanku for all you are sharing and teaching us. i did start a thread in the broker section on this topic, that is the link i attached in the original post.
  • #1,150
  • Apr 19, 2009 11:49am Apr 19, 2009 11:49am
Quoting clockwork71
This one is approaching a very interesting area..... 1.75 should be an area to watch in my opinion.
The amount of traffic is of no essence, it is quality which counts.
Regards
  • #1,151
  • Apr 19, 2009 12:12pm Apr 19, 2009 12:12pm
Quoting clockwork71
This one is approaching a very interesting area..... 1.75 should be an area to watch in my opinion.
Your efforts are not going unoticed.This is one of a couple threads I read everyday.Keep up the good work
  • #1,152
  • Apr 19, 2009 12:58pm Apr 19, 2009 12:58pm
Hey Clcokwork, quick question, when the price is approaching a major zone like this on the weekly charts, do you ever use daily fibs to help identify the trade setup. In other words, the area is 175.00, the weekly fib is not around this area, but there is a daily 61.8 fib right at the same area. Is this something to pay attention to or not? I appreciate your help.

PS yellow is weekly fib, white is the daily fib


Quoting clockwork71
This one is approaching a very interesting area..... 1.75 should be an area to watch in my opinion.
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  • #1,153
  • Apr 19, 2009 1:00pm Apr 19, 2009 1:00pm
This pair is of personal interest for me. This week I'm going to watch how price reacts around the 8.50 level...
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  • #1,154
  • Apr 19, 2009 1:04pm Apr 19, 2009 1:04pm
Quoting howard
The amount of traffic is of no essence, it is quality which counts.
what?
PA bounced off that area over 4x. i think that counts for something.
and in fact i would say it bouncing off an area 4x is worth more than 1 good pinbar bouncing off it.
  • #1,155
  • Apr 19, 2009 2:13pm Apr 19, 2009 2:13pm
Quoting dengzhi
what?
PA bounced off that area over 4x. i think that counts for something.
and in fact i would say it bouncing off an area 4x is worth more than 1 good pinbar bouncing off it.
LOL, I was talking about the traffic on the thread

The traffic on the resistance area is great
Regards
  • #1,156
  • Apr 19, 2009 3:24pm Apr 19, 2009 3:24pm
Quoting dkmb92
i am new to this and recognize there is a lot i dont know and need to learn. imho who we trade w/ is the most important decision we make. you & the sr.'s at j16 are the the traders i respect & look-up to the most. i value your wisdom and opinions on all matters. thanku for all you are sharing and teaching us. i did start a thread in the broker section on this topic, that is the link i attached in the original post.

Cool, just wanted to make sure you knew that. I saw you were a newbie. I would have answered about Oanda, but to be honest......I have never used them.
  • #1,157
  • Apr 19, 2009 3:28pm Apr 19, 2009 3:28pm
Quoting TraderJSS
Hey Clcokwork, quick question, when the price is approaching a major zone like this on the weekly charts, do you ever use daily fibs to help identify the trade setup. In other words, the area is 175.00, the weekly fib is not around this area, but there is a daily 61.8 fib right at the same area. Is this something to pay attention to or not? I appreciate your help.

PS yellow is weekly fib, white is the daily fib

Good question. Yes, I do....in a way.

Basically, I am waiting for this area because it's such an obvious area of support and resistance. However, once we get to this spot, I would like to see some kind of price action. Maybe a pinbar or Outside Bar. Thirdly, I always look to see if there is a Fib Level. Daily or weekly is fine. I don't base the trade off the Fib Level naturally, but I am aware that a lot of other traders do. It's a self-fulfilling prophecy. I don't buy into Fib's so much, but a ton of people do - so it has some merit.

Fib's are never the #1 reason.....but I use them as #3 on a trade quite often. Again.....Area, Price Action, Fib. Fibs can be either weekly or daily, makes no difference to me. I just want to know that others will possibly be interested in trading at this area is all.

It's about probabilities.
  • #1,158
  • Apr 19, 2009 3:29pm Apr 19, 2009 3:29pm
Quoting Diane
This pair is of personal interest for me. This week I'm going to watch how price reacts around the 8.50 level...
Yes, but remember: You can't trust the Swedes. So how can you trade the SEK?
  • #1,159
  • Apr 19, 2009 3:30pm Apr 19, 2009 3:30pm
Quoting howard
LOL, I was talking about the traffic on the thread

The traffic on the resistance area is great

lol k
  • #1,160
  • Apr 19, 2009 8:44pm Apr 19, 2009 8:44pm
CW what do you think of this possible setup coming on the GU, (highlighted at the green box)? There is a good channel still here and weekly resistance lines lining up to hit at the same point. Also you can see the big resistance from last week in the same area.
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