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  • #21
  • May 11, 2009 11:50pm May 11, 2009 11:50pm
Quoting feb2865
so here's the same charts - no notes.

What would you do? Remember you get stopped short.

What is the market telling you? Can you see it's hands?
this could be the way i would have traded, but as it is hindsight its not easy to say how i would have reactet in reality
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  • #22
  • May 12, 2009 12:13am May 12, 2009 12:13am
Quoting feb2865
so here's the same charts - no notes.

What would you do? Remember you get stopped short.

What is the market telling you? Can you see it's hands?
Market is telling me buying power has not ended yet, possible H/H still. then I see his hands by witnessing price stagnation.
what would I do? I would wait to see a complete stop then spot a H/L, then go short.
My chart on post 8 shows exactly that as I endup with some money on that trade.
thats the way i see it. I am i correct feb?

Thanks.
  • #23
  • May 12, 2009 7:13am May 12, 2009 7:13am
the observation is spot on!

Of course, this is hindsight.
Peace
  • #24
  • May 19, 2009 8:04am May 19, 2009 8:04am
Hi feb,
In the chart below I have shown my lack of confidence to trade the first option.. just not sure on how to go about it.. can you plz help so I can grasp this part of trading naked.. is it a high probable to trade early reversals or too risky? or is just simply worth testing the maket, bcz the payoff it great? if I do test the market on early reversals how do you go by trade managing it best that I can follow the same?

Thank you.


http://www.forexfactory.com/images/attach/gif.gif
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  • #25
  • May 19, 2009 8:53am May 19, 2009 8:53am
Quoting fxachilies
Hi feb,
In the chart below I have shown my lack of confidence to trade the first option.. just not sure on how to go about it.. can you plz help so I can grasp this part of trading naked.. is it a high probable to trade early reversals or too risky? or is just simply worth testing the maket, bcz the payoff it great? if I do test the market on early reversals how do you go by trade managing it best that I can follow the same?

Thank you.


http://www.forexfactory.com/images/attach/gif.gif

Spotting early reversals...that's the key....

risky?? tradewise, looks like...money wise nah!

Trade management is very simple = use small lots and let that winner run all the way....takes practice but you're getting the hang of it.
Peace
  • #26
  • May 19, 2009 9:08am May 19, 2009 9:08am
thanks feb.
in e/u about a hour ago we had a example of such to go long.. can you tell me how you would have traded this? where entery? where to exit (since it started to go south) or maybe still stay in the trade?

Thank you.

http://www.forexfactory.com/images/attach/gif.gif
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  • #27
  • May 19, 2009 9:26am May 19, 2009 9:26am
Quoting fxachilies
thanks feb.
in e/u about a hour ago we had a example of such to go long.. can you tell me how you would have traded this? where entery? where to exit (since it started to go south) or maybe still stay in the trade?

Thank you.

http://www.forexfactory.com/images/attach/gif.gif
The trade failed to go higher and probably was going down on momentum...as for staying on the trade, it depends...I'm a scalper so probably I'll be in and out a few times
Peace
  • #28
  • May 19, 2009 9:32am May 19, 2009 9:32am
Quoting feb2865
The trade failed to go higher and probably was going down on momentum...as for staying on the trade, it depends...I'm a scalper so probably I'll be in and out a few times

perfect thats the answer i was looking for.. thank you feb you are awsome.
  • #29
  • May 19, 2009 9:43am May 19, 2009 9:43am
feb this is how i played it.. valid stuff? is it the way to go to catch the wave early? if i trade it religiously would i be successful?
your imput one more time will just boost my confidence to the moon.

Thank you.

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  • #30
  • May 19, 2009 9:55am May 19, 2009 9:55am
stay put I'll reply in a few minutes...
Peace
  • #31
  • May 19, 2009 10:28am May 19, 2009 10:28am
The idea is to make money when the market goes unbalanced. A balanced market is a flat market, for instance. It's hard for me to tell you in charts, cause I don't use them.

Directionality, That's the word I was looking for.....


The idea to spot a reversal is to be the first in line but the idea is to find directionality...in other words, a runner...ok here's something you can do.

Some of my friends trade on pullbacks/rallies off 200 SMA....Although is a crutch, that will give you a perspective on directionality.

200 SMA is not magical, but I must admit many markets across the board are looking at it . Once you trade a naked eye, you can throw away that crutch, for sure.

Don't trade a pullback too close to the SMA. Make sure the price is at a reasonable distance.

The markets are using the 200sma as a line in the sand for a reversal. Wishful thinking, you know.

I don't use it and I don't encourage anyone to worship the 200 SMA as a saint. That is a CRUTCH ...but sometimes in order to grasp a concept , as in your case, could be useful.

Hope it helps
Peace
  • #32
  • Edited 11:00am May 19, 2009 10:44am | Edited 11:00am
Quoting feb2865
The idea is to make money when the market goes unbalanced. A balanced market is a flat market, for instance. It's hard for me to tell you in charts, cause I don't use them.

Directionality, That's the word I was looking for.....


The idea to spot a reversal is to be the first in line but the idea is to find directionality...in other words, a runner...ok here's something you can do.

Some of my friends trade on pullbacks/rallies off 200 SMA....Although is a crutch, that will give you a perspective on directionality.

200 SMA is not magical,...
Thank you feb for this post.
I prefer to not use any indicators (sma200 or etc..).
my reliance on candels by spotting H/L or L/H would be a effective way to go? considering the fact that we do everyting in one chart (5min).

Thanks.
  • #33
  • May 19, 2009 11:11am May 19, 2009 11:11am
Quoting fxachilies
Thank you feb for this post.
I prefer to not use any indicators (sma200 or etc..).
my reliance on candels by spotting H/L or L/H would be a effective way to go? considering the fact that we do everyting in one chart (5min).

Thanks.

well, yes.....

Just one chart, don't need to cross your eyes looking at many at once!
Peace
  • #34
  • Edited 12:44pm May 19, 2009 12:31pm | Edited 12:44pm
Quoting feb2865
well, yes.....

Just one chart, don't need to cross your eyes looking at many at once!

I know you said you dont use charts and its hard for you to explain since you dont use it.. but is there any other naked eye techincs you have in mind that you recommend I can use to judge better read on reversal enteries? or maybe if its possible for you to do afew reall time trading with us.. that be more than helpfull.

I know i have been a pain in a butt today.. I apologize. You have been great today as always.

Thank you so verymuch.

I have set afew entery examples in the next post, if you could give me input on each is much appreciated.
  • #35
  • May 19, 2009 1:26pm May 19, 2009 1:26pm
feb,
Since I am looking to test the market a lot like you do its important for me to know how and where is health of my market read so I can count on being ahead on my bottomline at end of the month.
are my reasoning for enteries valid and accountable?

Thank you.


chart 1
http://www.forexfactory.com/images/attach/gif.gif

chart 2
http://www.forexfactory.com/images/attach/gif.gif
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  • #36
  • May 19, 2009 5:59pm May 19, 2009 5:59pm
Quoting fxachilies
feb,
Since I am looking to test the market a lot like you do its important for me to know how and where is health of my market read so I can count on being ahead on my bottomline at end of the month.
are my reasoning for enteries valid and accountable?

Thank you.


chart 1
http://www.forexfactory.com/images/attach/gif.gif

chart 2
http://www.forexfactory.com/images/attach/gif.gif
As far as I can tell all of this seems very legit!
But I am quite the noobie
How many pips do you go for when scalping?
  • #37
  • May 20, 2009 2:38am May 20, 2009 2:38am
Quoting Ogna
As far as I can tell all of this seems very legit!
But I am quite the noobie
How many pips do you go for when scalping?
ogna,
it looks like scalping with some maneuver to ride the wave to as much as possible.. no set tp.
The idea is to get in early to see if it will develop into a runner.
  • #38
  • May 20, 2009 8:03am May 20, 2009 8:03am
Quoting fxachilies
ogna,
it looks like scalping with some maneuver to ride the wave to as much as possible.. no set tp.
The idea is to get in early to see if it will develop into a runner.
oh ok, is there an amount of pips you are willing to loose?
  • #39
  • May 20, 2009 8:19am May 20, 2009 8:19am
Quoting Ogna
oh ok, is there an amount of pips you are willing to loose?

It all depends.. sometimes I bailout quickly and othertimes give it a little room but never give out no more than 20-25pips max.. thats where trading becomes an art.. I am in the stage of learning to accept it as it is and cope with the losing part of it..
  • #40
  • Edited 10:37am May 20, 2009 10:13am | Edited 10:37am
Quoting fxachilies
It all depends.. sometimes I bailout quickly and othertimes give it a little room but never give out no more than 20-25pips max.. thats where trading becomes an art.. I am in the stage of learning to accept it as it is and cope with the losing part of it..
Fxahilies!!! It's again me lol...

Sorry for a lot of questions... But...

If I right understand - 20-25pips loss in one trade is your risk tolerance???
So (like exemple) if youre risk tolerance is like 15-18 pips, then if market goes more than 15-18 - you have to stop trade (tolerance reached)...

Other words - If I and You are in the same trade in the same cross, and market goes against our positions, then I have ( it's just example) to stop my trade at -17(bcz my tolerance), even if momentum doesn't develop against me...,,, but you still can stay with this trade (your tolerance is 25pips)... And in this situation we (I and You) don't know the outcome of positions (we can't predict the market)... All is about risk tolerance... Right? Or I did miss something...
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