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Silent Service Method

  • #1,161
  • Apr 19, 2009 8:55pm Apr 19, 2009 8:55pm
Quoting kodflakes
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.
Looks like 1.46 may be an area to look for longs on the cable.
  • #1,162
  • Apr 19, 2009 9:14pm Apr 19, 2009 9:14pm
Quoting kodflakes
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.
I am not against this move, if it shows us some price action. I would telly ou to be patient. If it doesn't give you a clear signal, pass on it.
  • #1,163
  • Apr 19, 2009 9:51pm Apr 19, 2009 9:51pm
Chris

Just to say that you are helping me alot and i,m here for the long slog.As a wise man said " perserverance " will win out in the end.

Gerard
  • #1,164
  • Apr 19, 2009 10:02pm Apr 19, 2009 10:02pm
After going through your thread a few times Ive noticed that being patient is one of the most important things behind your strat.
"one shot one kill"

Quoting clockwork71
I am not against this move, if it shows us some price action. I would telly ou to be patient. If it doesn't give you a clear signal, pass on it.
  • #1,165
  • Apr 19, 2009 11:46pm Apr 19, 2009 11:46pm
I have finally finished reading through the whole thread - It's taken me 3 days on and off staying up till 3am in the morning so I can squeeze some more time in to read. Not just skipping over parts but actually comprehending and understanding every little bit, I have all the pictures ever posted on here in one folder for references to go over along with a document of important quotes that I thought I would like to read when in times of doubt or just skimming for references.

I have to say CW, this is some of the most astounding stuff I have seen here on FF, very well written and laid out and put in terms for us simpletons. This should be the 'CORE' of trading I believe.

I have learned a great deal from reading your thread, thanks for your time and contributions.

I have found a lot helpful things with the J16 thread and then reading this pretty much sums it up for me. I had a series of 'ah hah' moments throughout the whole thread and everything seems to be starting to click together, at least I think so! I will never look at a chart the same as I have done in the past, all the information is on that chart you just have to learn to interpret it, with the right knowledge and understanding it can be done.

All the best and hope you are well,

I will be sticking around to keep an eye on things and will post if I have any questions, pretty much so far everything has been answered for me.

Cheers!

VB,
  • #1,166
  • Apr 19, 2009 11:56pm Apr 19, 2009 11:56pm
just regarding the traffic of this thread...

i know a few people including myself are watching this thread intently and trying not to post too often as threads often get clutted up with newbies posting charts and irrelevant material, which i may have been guilty in the past. So yeh lets keep the post traffic down and the quality up

Great work CW, really enjoying reading this thread everyday.

PS im aware of the irony of posting about me not posting
Grabbing the bull by the horns!
  • #1,167
  • Apr 20, 2009 2:15am Apr 20, 2009 2:15am
Hi CW, though I am not a long term trader, I follow this thread with great interest as I like how you combine PA with support and resistance. I don't post much in FF, but I read your thread everyday (actually, a few times per day). Just want to say thanks. Maybe one day I will start trading longer term setups.
  • #1,168
  • Apr 20, 2009 11:29am Apr 20, 2009 11:29am
Quoting clockwork71
This one is approaching a very interesting area..... 1.75 should be an area to watch in my opinion.

I may be wrong, but I believe that this one already topped (at least short term). Keep an eye at how it reacts at the hourly supports, if you plan to get in.
If you think that I should not upload any hourly chart, just say so, and this will be last time.

Peace to all
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  • #1,169
  • Apr 20, 2009 1:38pm Apr 20, 2009 1:38pm
Quoting clockwork71
You can't trust the Swedes.
What??? Never heard of that... Can't be true...

But. The resistance area was not reliable at all. Price went right through the area and didn't stop before next level at 8.70

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I'd better go and look for something else to trade meanwhile...
  • #1,170
  • Apr 20, 2009 2:26pm Apr 20, 2009 2:26pm
Quoting clockwork71
A couple of bucks on a crude oil futures contract is a lot of money. $10 for every cent per contract.....a lot of money.....this move would have been worth a couple of thousand.
I would never have been able to manage a trade like that.

It reversed and went up to $54 - $55 as you said. Wonder if $48 will continue to act as support now...

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  • #1,171
  • Apr 20, 2009 6:35pm Apr 20, 2009 6:35pm
Quoting whitegoodman
just regarding the traffic of this thread...

i know a few people including myself are watching this thread intently and trying not to post too often as threads often get clutted up with newbies posting charts and irrelevant material, which i may have been guilty in the past. So yeh lets keep the post traffic down and the quality up

Great work CW, really enjoying reading this thread everyday.

PS im aware of the irony of posting about me not posting
Hey - at least I am not here not posting and thinking...."I wish he would post more". Or something like that?
  • #1,172
  • Apr 20, 2009 7:30pm Apr 20, 2009 7:30pm
I know CW mentioned he doesn't follow this too much, but for anyone else who might: GJ slowed down at an interesting region about 141.00 area which was a res. Dec-Mar. and now the price is close to that point and lower trend line of a up trending channel. Just some food for thought. Looking at candlesticks and lower TF to see what's going on.


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  • #1,173
  • Apr 20, 2009 8:55pm Apr 20, 2009 8:55pm
Quoting clockwork71
Hey - at least I am not here not posting and thinking...."I wish he would post more". Or something like that?
huh? double negatives got me confused lol
Grabbing the bull by the horns!
  • #1,174
  • Apr 20, 2009 10:02pm Apr 20, 2009 10:02pm
Hi CW,

Just a quick question if I may..

I've been reading over your exit strategy

I snagged an entry on the G/U nicely - I am now considering a place for a stop, I have closed half of my position and I've decided to let the rest run.

Above the blue area, would you consider that a safe place for a stop loss? since it would have been some sort of S on the 4 Hour time frame and got gobbled up, now gone Resistance, I'd imagine price would have a tough time going back up through there.

Let me know your opinions, thanks.

VB,
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  • #1,175
  • Apr 20, 2009 10:17pm Apr 20, 2009 10:17pm
Thanks Clockwork -

I've been trading your method for a month or so now...avg of about 2%/week, give or take a few pips.

To all you newbies out there - just sit and listen to this guy and the one's that trade his method...you may not get rich quick, but you certainly won't go broke.

Hopefully I will be able to contribute here soon, a lot of personal stuff getting in the way of the more enjoyable part of trading...talking to other traders!
  • #1,176
  • Apr 20, 2009 11:32pm Apr 20, 2009 11:32pm
Quoting VitaminBeer
Hi CW,

Just a quick question if I may..

I've been reading over your exit strategy

I snagged an entry on the G/U nicely - I am now considering a place for a stop, I have closed half of my position and I've decided to let the rest run.

Above the blue area, would you consider that a safe place for a stop loss? since it would have been some sort of S on the 4 Hour time frame and got gobbled up, now gone Resistance, I'd imagine price would have a tough time going back up through there.

Let me know your opinions, thanks.

VB,
Seems to make sense there. Needless to say (I can't really tell...) but have it about 15 pips above a round number. (ie "00", etc.)
  • #1,177
  • Apr 20, 2009 11:33pm Apr 20, 2009 11:33pm
Quoting bgin2end
Thanks Clockwork -

I've been trading your method for a month or so now...avg of about 2%/week, give or take a few pips.

To all you newbies out there - just sit and listen to this guy and the one's that trade his method...you may not get rich quick, but you certainly won't go broke.

Hopefully I will be able to contribute here soon, a lot of personal stuff getting in the way of the more enjoyable part of trading...talking to other traders!

Thank you for the quick note. I look forward to when you have the time to share mate!
  • #1,178
  • Edited 11:14am Apr 21, 2009 11:10am | Edited 11:14am
CW, I seem to be getting better at picking entries, I wonder could you advise me as to the exit strategy on this trade (and the strategy I should be using on other trades?)

On the chart below I've got at the moment just below the 131 level as a take profit. I'm fairly confident it will reach that in the next few days. That is the next weekly s/r level that I can see on the chart.

Is it better to take this profit at that level and wait and see what happens after that or would you advise not using a tp and assessing PA once it gets to that level?

The problem I can see with the latter is that as I tend to trade the daily bars only it could bounce off that level and be halfway back to my entry point before I've had time to blink.

137 seems like a reasonable possibility for it to reach but I won't know if it is going to break 131 until it gets there. A bit of a conundrum I think?

PS... As I'm only trading 0.01 volume I can't close half at 131 and leave the rest to run, I'm trying to stick to 1% per trade but don't have the balance yet, getting there though.
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  • #1,179
  • Apr 21, 2009 1:27pm Apr 21, 2009 1:27pm
Quoting hel13rock
CW, I seem to be getting better at picking entries, I wonder could you advise me as to the exit strategy on this trade (and the strategy I should be using on other trades?)

On the chart below I've got at the moment just below the 131 level as a take profit. I'm fairly confident it will reach that in the next few days. That is the next weekly s/r level that I can see on the chart.

Is it better to take this profit at that level and wait and see what happens after that or would you advise not using a tp and assessing PA once it gets to that level?...
One of the major reasons I use a TP is because I am not going to be there to see what happens. This is especially true on daily charts. Even though this pair has been going up and up, this trade is still counter trend. (In the big scheme of things.) This is 2 reasons for a TP in my humble opinion.
  • #1,180
  • Apr 21, 2009 1:30pm Apr 21, 2009 1:30pm
Ok, thanks, still got things to learn but getting it one step at a time.
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