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Why did you start trading and what do you expect from it? 19 replies

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Trade what you see NOT what you expect

  • #12,041
  • May 12, 2009 8:37pm May 12, 2009 8:37pm
Possibly coming up on GU and EU.

Would like to see below 5265 on GU......3653 EU based on my bid price. Otherwise, I'll stand on the sides. :nerd:

I''l try that on demo if it sets up.

HOLLA
  • #12,042
  • May 12, 2009 8:46pm May 12, 2009 8:46pm
Quoting Turtle
Took another off @ 131.16, moved s/l to +20, letting the last two soliders run.

Think I'm done practicing for the night, but will hang out for a bit.

HOLLA
She got me............

HOLLA
  • #12,043
  • May 12, 2009 9:00pm May 12, 2009 9:00pm
Quoting Shilva
I added to a long at 5200...hope it was the right move!
I was stopped out on a spike down........ yesterday!

Bob told me not to let her get me like that again during our chat last night.

Added instead today on that spike down was filled at 5208

I closed one at break even and scalped 34 off the other one.

I was so proud of myself when I closed that trade.........I went out and barbecued me some chicken thighs on the charcoal grill

I was down 40 or so. I didn't care if I closed early or not!

Anybody else get in there?
  • #12,044
  • May 12, 2009 9:18pm May 12, 2009 9:18pm
Quoting Shilva
I was stopped out on a spike down........ yesterday!

Bob told me not to let her get me like that again during our chat last night.

Added instead today on that spike down was filled at 5208

I closed one at break even and scalped 34 off the other one.

I was so proud of myself when I closed that trade.........I went out and barbecued me some chicken thighs on the charcoal grill

I was down 40 or so. I didn't care if I closed early or not!

Anybody else get in there?
Good job bro........

Bob always makes me think too........

I got in on the first dip at 5220....took profit and covered and she came back to get me.

Miss the other one because I was at lunch, that's the nice one to be in right now....good luck.

HOLLA
  • #12,045
  • May 12, 2009 9:22pm May 12, 2009 9:22pm
Took a short on the EJ at 131.60 20 minutes ago...could of added at 131.75. Let's see where she runs. :nerd:

S/L @ 131.85

HOLLA
  • #12,046
  • May 12, 2009 10:20pm May 12, 2009 10:20pm
Quoting Turtle
Took a short on the EJ at 131.60 20 minutes ago...could of added at 131.75. Let's see where she runs. :nerd:

S/L @ 131.85

HOLLA
Trying a little something here......took half off @ +6 and left the remainder with the same s/l. Targeting 131.34 area.

Want to see if my entry was correct but maybe too early.

HOLLA
  • #12,047
  • May 13, 2009 2:02am May 13, 2009 2:02am
Did anyone take the 62 bounce on EJ?
  • #12,048
  • May 13, 2009 3:00am May 13, 2009 3:00am
Quoting PippiNole
Did anyone take the 62 bounce on EJ?

I took some of it but got out when it turned back the first time ..It was a 62 ema at the 50% fib level.
Good Trading To All ; Ken Lee
  • #12,049
  • May 13, 2009 3:03am May 13, 2009 3:03am
Quoting KENNETH lEE
I took some of it but got out when it turned back the first time ..It was a 62 ema at the 50% fib level.
Did you take the 35/50 also?
  • #12,050
  • May 13, 2009 3:05am May 13, 2009 3:05am
Quoting PippiNole
Did you take the 35/50 also?

yes but I was late more off the pin than the reversal trade. I actually had laid back down and got back up..
Good Trading To All ; Ken Lee
  • #12,051
  • May 13, 2009 3:07am May 13, 2009 3:07am
Quoting KENNETH lEE
yes but I was late more off the pin than the reversal trade. I actually had laid back down and got back up..
Cool, I went long down the hammer also. Good job.
  • #12,052
  • May 13, 2009 3:16am May 13, 2009 3:16am
Hey Macc are you banking the pips this morning?
  • #12,053
  • May 13, 2009 3:25am May 13, 2009 3:25am
Quoting PippiNole
Hey Macc are you banking the pips this morning?
Hey Pippi,

Took a long on GU earlier off the 50 thinking she wanted to retest yesterday's high. Luckily bailed out at +25 (for no other reason than it was +25) as London open pushed her down.

Possibly clearing out stops and searching for better value entry as I still think she's bullish.

Saw the EJ 35/50 (but didn't take it) and see that the 35 pip SL rule held true for that type of trade even if you entered of the open of the next candle and didn't wait to go long off the wick

Good trading Pippi and Ken

Macc
  • #12,054
  • May 13, 2009 3:33am May 13, 2009 3:33am
Quoting eohater
Sure, if you look at the candle that closed across the 15m 35, it's closed price is 5142 on my feed, so I add 35 pips to get 5177. Once we get 35 pips over the closed price of the candle that closes across the 15m 35, you can accept that the trend has changed. This is also a basis for a short on the cross of the 15m 35/50 with a SL of 35. You could also have a PO short 30 pips higher with an even tighter SL. As you can see, sellers came in around 5170.
Hey EO, I thought about this today and had a followup to this question.

Do you have a rule where if a candle crosses the 35/50, is there a point where if it closes x pips beyond the 35/50, you consider it has changed trend and don't take the reverse trade?

For example, let's say the 35 SMA is at 1.6000, and the 15M candle crossed it, and closed at 1.5970. With it only being 30 pips away, you might take it, but if it closed at 1.5800, with it being 100 pips away, you might think twice.
  • #12,055
  • May 13, 2009 3:34am May 13, 2009 3:34am
Quoting macc
Hey Pippi,

Took a long on GU earlier off the 50 thinking she wanted to retest yesterday's high. Luckily bailed out at +25 (for no other reason than it was +25) as London open pushed her down.

Possibly clearing out stops and searching for better value entry as I still think she's bullish.

Saw the EJ 35/50 (but didn't take it) and see that the 35 pip SL rule held true for that type of trade even if you entered of the open of the next candle and didn't wait to go long off the wick

Good trading Pippi and Ken

Macc
Green pips is good.
  • #12,056
  • May 13, 2009 3:37am May 13, 2009 3:37am
Quoting macc
Hey Pippi,

Took a long on GU earlier off the 50 thinking she wanted to retest yesterday's high. Luckily bailed out at +25 (for no other reason than it was +25) as London open pushed her down.

Possibly clearing out stops and searching for better value entry as I still think she's bullish.

Saw the EJ 35/50 (but didn't take it) and see that the 35 pip SL rule held true for that type of trade even if you entered of the open of the next candle and didn't wait to go long off the wick

Good trading Pippi and Ken

Macc

Way to go... great trade ,,,Don't worry about the missed trades there will be plenty more. actually I think the 62 ema on the 1 hour confirmed with the 50% fib level was the trade of the day, could still be in play..
Attached Image (click to enlarge)
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Good Trading To All ; Ken Lee
  • #12,057
  • May 13, 2009 3:41am May 13, 2009 3:41am
I'm going back to bed until US session. Good trading and see you in a little while.
  • #12,058
  • May 13, 2009 3:51am May 13, 2009 3:51am
this is just my view if cable can get past this resistance area, next stop where it can fall apart is roughly 1.5350-1.54......if get past this 1.55 should be seen if that can be seen this will likely go to 1.64......and i see this happening...so long as we can close above 1.53 this week

its tricky like like crazy cause it can go down just by closing below 1.53 this week...on weekly
  • #12,059
  • May 13, 2009 4:01am May 13, 2009 4:01am
Quoting nAVIN2007
this is just my view if cable can get past this resistance area, next stop where it can fall apart is roughly 1.5350-1.54......if get past this 1.55 should be seen if that can be seen this will likely go to 1.64......and i see this happening...so long as we can close above 1.53 this week

its tricky like like crazy cause it can go down just by closing below 1.53 this week...on weekly
I agree Navin.

I think a move past the 330-350 resistance should take us to 15400 where I've also got a top of channel TL, above that I've got a 161 fib target projection at 450 (also round number)

Bullish is my thought but agree that it could all turn on a dime

Macc
  • #12,060
  • May 13, 2009 4:06am May 13, 2009 4:06am
Quoting nAVIN2007
this is just my view if cable can get past this resistance area, next stop where it can fall apart is roughly 1.5350-1.54......if get past this 1.55 should be seen if that can be seen this will likely go to 1.64......and i see this happening...so long as we can close above 1.53 this week

its tricky like like crazy cause it can go down just by closing below 1.53 this week...on weekly
Herre is a 4 hr shows those areas.
Attached Image (click to enlarge)
Click to Enlarge Name: 1b Misc GBP.JPG Size: 137 KB
Good Trading To All ; Ken Lee
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