Silent Service Method | Page 63 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Silent room 2 replies

Silent Success of Patience 10 replies

My silent journal 4 replies

bo7a method... method for GBP/JPY 205 replies

Seeing Through the Silent Crash 4 replies

Attachments: Silent Service Method
Exit Attachments

Silent Service Method

  • #1,241
  • Apr 28, 2009 10:44am Apr 28, 2009 10:44am
Quoting nomask
to be honest....if it doesnt care and break that pinbar then i don't think this pair will pay out well for short trades unless testing and turning back off the 1.23 level ...
Got 1% locked in with that 1/3 of position still at B/E...at 1.2310

Josh
  • #1,242
  • Apr 28, 2009 1:44pm Apr 28, 2009 1:44pm
I have two points of interest on my USDCAD chart....1.2750 and 1.2250 and the surrounding bands.

Just sold this pair as it bounced off 1.2250 with a stop on the other side of the recent high.

Stop now at breakeven.

Cheers
CanuckCT
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 29 KB
  • #1,243
  • Apr 28, 2009 2:15pm Apr 28, 2009 2:15pm
Quoting CanuckCT
I have two points of interest on my USDCAD chart....1.2750 and 1.2250 and the surrounding bands.

Just sold this pair as it bounced off 1.2250 with a stop on the other side of the recent high.

Stop now at breakeven.

Cheers
CanuckCT

Right.....I re-shorted as well. To be honest, I think that until 1.25 gets taken out - I am looking for shorts.
  • #1,244
  • Apr 28, 2009 6:20pm Apr 28, 2009 6:20pm
I have only taken 5 trades this month following the trading sense that you have put forth in this thread. Thanks for sharing!
  • #1,245
  • Apr 28, 2009 7:11pm Apr 28, 2009 7:11pm
Clockwork, any thoughts on a potential long position on the usdjpy.

Bounce off 95.50 s/r
Pin bar on the daily
MACD divergence on daily chart
Trend bullish for last 5 months

Thanks!
Attached Image
  • #1,246
  • Apr 28, 2009 7:17pm Apr 28, 2009 7:17pm
how does being in a trade affect your ability to manage other trades simultaneously?
For example, you are short usdcad will you still look for and enter other trades?
I know it is easier to enter other trades if you have protected your equity on earlier open positions by moving stop to breakeven and therefore can risk another 2% on a new trade.

I tend to only be in one trade at a time, unless I moved stop to b/e. Just wanted to know your thoughts. Thanks!
  • #1,247
  • Apr 28, 2009 8:34pm Apr 28, 2009 8:34pm
Quoting NowAndLater
Hi CW, just finished reading the thread and I thank you so much for the time you have put in and the invaluable knowledge you have shared with us.

I trade using PA, trendlines, s/r zones, and fibs, and it's similar to what you have presented but this thread has also given me new things to think about and has helped improve my tradingskills. Also the psychological information that you've shared is great and I hope to be a contributor to this thread.

I read that you rarely trade IB's. I trade them among the other PA bars and I hope you don't mind...

Post away, by all means. I don't have an issue with people trading IB or IB4's, it's more of a personal preference for me is all.

And yes, I use most if not all of what you do. My biggest break through came when I started to use less of it. (For example, I only use weekly support and resistance lines for entries....It clears the chart a bit.)

CW
  • #1,248
  • Apr 28, 2009 8:36pm Apr 28, 2009 8:36pm
Quoting Dopped Onion
Clockwork, any thoughts on a potential long position on the usdjpy.

Bounce off 95.50 s/r
Pin bar on the daily
MACD divergence on daily chart
Trend bullish for last 5 months

Thanks!

It's a fair long, and in fact - has already triggered......which brings me to the next post.....
  • #1,249
  • Apr 28, 2009 8:38pm Apr 28, 2009 8:38pm
Quoting Dopped Onion
how does being in a trade affect your ability to manage other trades simultaneously?
For example, you are short usdcad will you still look for and enter other trades?
I know it is easier to enter other trades if you have protected your equity on earlier open positions by moving stop to breakeven and therefore can risk another 2% on a new trade.

I tend to only be in one trade at a time, unless I moved stop to b/e. Just wanted to know your thoughts. Thanks!
This is a psychological question more than anything else. Here's the answer: Do what you are comfortable with. NOBODY can tell you what's right or wrong. There is no right or wrong answer here. It comes down to what you can sleep through. THAT SIMPLE.

So, as you can see.....I don't have a direct answer. At least not one that you would expect. If you are comfortable - that's all that matters.

CW
  • #1,250
  • Apr 28, 2009 9:17pm Apr 28, 2009 9:17pm
Quoting clockwork71
This is a psychological question more than anything else. Here's the answer: Do what you are comfortable with. NOBODY can tell you what's right or wrong. There is no right or wrong answer here. It comes down to what you can sleep through. THAT SIMPLE.

So, as you can see.....I don't have a direct answer. At least not one that you would expect. If you are comfortable - that's all that matters.

CW
Makes sense. Thanks!
  • #1,251
  • Apr 28, 2009 9:20pm Apr 28, 2009 9:20pm
Quoting clockwork71
It's a fair long, and in fact - has already triggered......which brings me to the next post.....
looks like an entry above 97.05 resistance may be a good idea. May just watch this one from the sidelines.
  • #1,252
  • Apr 28, 2009 11:23pm Apr 28, 2009 11:23pm
Quoting clockwork71
Right.....I re-shorted as well. To be honest, I think that until 1.25 gets taken out - I am looking for shorts.
Hi Chris..if you don't mind my asking, what was your trigger/entry for the re-short and where does your stoploss go?

Thanks,
Ek
  • #1,253
  • Apr 29, 2009 3:41am Apr 29, 2009 3:41am
Thanks for the wise words.I have come to realize that trading has some basic tenets(S&R and other price action),but still i discovered that as a trader you must self- strategy discover, wth regards to discovery of what goes well with you like you mentioned,i think where ppl get it wrong is trying to be at comfort(psychologically) wth somebody's else strategy and not finding comfort in the person's strategy,in short no matter the strategy you copy try to discover what works for you in the strategy.i hope it makes sense

Quoting clockwork71
This is a psychological question more than anything else. Here's the answer: Do what you are comfortable with. NOBODY can tell you what's right or wrong. There is no right or wrong answer here. It comes down to what you can sleep through. THAT SIMPLE.

So, as you can see.....I don't have a direct answer. At least not one that you would expect. If you are comfortable - that's all that matters.

CW
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #1,254
  • Apr 29, 2009 3:57am Apr 29, 2009 3:57am
Thanks for the wise words.I have come to realize that trading has some basic tenets(S&R and other price action),but still i discovered that as a trader you must self- strategy discover, wth regards to discovery of what goes well with you like you mentioned,i think where ppl get it wrong is trying to be at comfort(psychologically) wth somebody's else strategy and not finding comfort in the person's strategy,in short no matter the strategy you copy try to discover what works for you in the strategy.i hope it makes sense

Quoting clockwork71
This is a psychological question more than anything else. Here's the answer: Do what you are comfortable with. NOBODY can tell you what's right or wrong. There is no right or wrong answer here. It comes down to what you can sleep through. THAT SIMPLE.

So, as you can see.....I don't have a direct answer. At least not one that you would expect. If you are comfortable - that's all that matters.

CW
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #1,255
  • Apr 29, 2009 5:04am Apr 29, 2009 5:04am
CW,
Stop at break even on USDCAD short...thinking about locking 100 pips. What is your plan?
Cheers
CanuckCT
  • #1,256
  • Edited 5:44am Apr 29, 2009 5:27am | Edited 5:44am
gbpusd trade that i took yesterday is below....i've been looking for some sort of sign to go long since it made a pinbar on the weekly chart..
also trailed my stop on usdcad behind the latest pinbar...
udscad locked in profit and gbpusd is at b.e
now that thing can do only two things..stop me out with small profit or pay out very nicely although i only risk %1 per trade and at anytime...

getting in a trade very hard to me (thats what i prefer...so many things considered) so why not making getting out part hard too when its not in loss...what i realised is more you stay more you may make and less you have to open new trades...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2009-04-29_1304.png Size: 73 KB
Click to Enlarge Name: 2009-04-29_1310.png Size: 75 KB
Click to Enlarge Name: 2009-04-29_1315.png Size: 80 KB
  • #1,257
  • Apr 29, 2009 7:10am Apr 29, 2009 7:10am
100 pips locked...mainly because I've got a busy day today and won't be able to monitor.
Cheers
CanuckCT

Quoting CanuckCT
CW,
Stop at break even on USDCAD short...thinking about locking 100 pips. What is your plan?
Cheers
CanuckCT
  • #1,258
  • Apr 29, 2009 7:42am Apr 29, 2009 7:42am
Quoting CanuckCT
100 pips locked...mainly because I've got a busy day today and won't be able to monitor.
Cheers
CanuckCT
That's good. I know that at times I have to do the exact same thing. I hope you put it behind a nice cluster on the chart so you have a chance to keep going.

Sometimes life gets in the way - that's fine. Have I ever had a trade taken out while at work? Yes, and I survived. It's a hell of a lot better than to have a large profit turn around into a loss. (Which happened to me only once - that's all it took.)

CW
  • #1,259
  • Apr 29, 2009 9:34am Apr 29, 2009 9:34am
My stop...a nice safe spot I think.
Cheers
CanuckCT


Quoting clockwork71
That's good. I know that at times I have to do the exact same thing. I hope you put it behind a nice cluster on the chart so you have a chance to keep going.

Sometimes life gets in the way - that's fine. Have I ever had a trade taken out while at work? Yes, and I survived. It's a hell of a lot better than to have a large profit turn around into a loss. (Which happened to me only once - that's all it took.)

CW
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD2009-04-29_1116.png Size: 37 KB
  • #1,260
  • Apr 29, 2009 11:47am Apr 29, 2009 11:47am
Quoting CanuckCT
My stop...a nice safe spot I think.
Cheers
CanuckCT
Nice short off the rejection of 1.2250.
52 traders viewing now