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Silent Service Method

  • #2,041
  • Jun 17, 2009 7:54pm Jun 17, 2009 7:54pm
Quoting Jduester
SR,
Thanks for finding this article....
No worries, and it's not off topic in my opinion. Trade what the chart tells you - what you are trading doesn't matter as much truthfully.

CW
  • #2,042
  • Jun 17, 2009 7:55pm Jun 17, 2009 7:55pm
Quoting Icehocey77
Looks like MSFT pin broke to the 365 EMA and now showing a pinbar in the other direction.

I don't deal with EMA's, and find them useless because they are calculated after the fact. However, you are correct. Don't care, still short.....

That's what stops are for.

CW
  • #2,043
  • Jun 17, 2009 8:15pm Jun 17, 2009 8:15pm
hi CW,
i have been reading your thread for about 2 weeks. very interesting, your comments always helpful. a few months ago i bought aig (1.55) and abk (1.35). i didnt know about candles, s&r, pivot zones, pinbars, etc. i just bought this stocks because a friend told me it was going to be a very good oportunity in two years.
now i know there are markets like forex where you can trade daily or weekly.
if it is possible, i would like to hear your opinion about aig and abk in the next months.
thanks a lot.
i am considering to re read this thread.
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  • #2,044
  • Jun 17, 2009 8:39pm Jun 17, 2009 8:39pm
Quoting clockwork71
I have been ignoring this pair lately to be honest.

CW
thx for the response.
  • #2,045
  • Jun 17, 2009 8:51pm Jun 17, 2009 8:51pm
Quoting clockwork71
I don't deal with EMA's, and find them useless because they are calculated after the fact. However, you are correct. Don't care, still short.....

That's what stops are for.

CW
agreed, EMA's are part of MAs, which are part of indicators.. and with PA we just throw all those indys away because they are lagging
  • #2,046
  • Jun 17, 2009 9:24pm Jun 17, 2009 9:24pm
Quoting juanluis
hi CW,
i have been reading your thread for about 2 weeks. very interesting, your comments always helpful. a few months ago i bought aig (1.55) and abk (1.35). i didnt know about candles, s&r, pivot zones, pinbars, etc. i just bought this stocks because a friend told me it was going to be a very good oportunity in two years.
now i know there are markets like forex where you can trade daily or weekly.
if it is possible, i would like to hear your opinion about aig and abk in the next months.
thanks a lot.
i am considering to re read this thread.
To be honest, there is nothing on these charts that would have me too excited about owning them.

CW
  • #2,047
  • Jun 18, 2009 2:11am Jun 18, 2009 2:11am
one thing i was expecting when i first shorted this pair at 1.2300ish was that price would find some trouble around 1.08 level and it did...Now i'm waiting some clear setups for this pair..If that weekly closes as a pinbar and gets broken in the future then i'd be interested in shorting this pair again..
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  • #2,048
  • Jun 18, 2009 2:21am Jun 18, 2009 2:21am
i got stopped out on this eurusd trade...to be honest at the time i was bored by not taking any trades almost two weeks so i was looking for anything to get in a trade..This mistake cost me one percent of my capital...
now i'm bored and also feeling silly
do something else if you're bored
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  • #2,049
  • Jun 18, 2009 3:10am Jun 18, 2009 3:10am
I have admired your progress for quite sometime since you jioned this Thread...am amazed at how fast you have caught up and are making very good progress. Congratulations............and keep. I am learning quite alot from you and especially CW71.

About your EUR/USD short, i noted that it was against the trend off the 4-hr TF, when backtesting and going CT i noted that the 4-hr works BUT NOT always...the Daily & Weekly TFs seems to work well on CTs. Just my view and thoughts and i always avoid CTs on 4-hr TFs.
  • #2,050
  • Jun 18, 2009 3:40am Jun 18, 2009 3:40am
Quoting Danku
I have admired your progress for quite sometime since you jioned this Thread...am amazed at how fast you have caught up and are making very good progress. Congratulations............and keep. I am learning quite alot from you and especially CW71.

About your EUR/USD short, i noted that it was against the trend off the 4-hr TF, when backtesting and going CT i noted that the 4-hr works BUT NOT always...the Daily & Weekly TFs seems to work well on CTs. Just my view and thoughts and i always avoid CTs on 4-hr TFs.
thx for your nice words..i'm lucky that so many good traders coming and contributing to this thread,especially CW...
We've learnt a lot from him and still are..I've mentioned that couple times earlier, this thread absolutely far valuable than most of the mentoring services available out there that cost you at least couple thousands..

You're right about 4hr.I totally agree with that..I even posted in this thread earlier that daily bars and monthly zones work better for me...Besides i have a big piece of paper my rules listed in and the first rule says "never ever trade based on 4hr bar"...it just doesn't fit me..This was the time i broke my own rule..in fact i'm glad that it didn't work out...because i'd rather experiencing the fact i should follow my rules all the time than winning for one trade that could have made me an undisciplined trader..
  • #2,051
  • Jun 18, 2009 3:55am Jun 18, 2009 3:55am
and I also ignored another rule that i've learnt it from Cw...
if you entering in one direction based on a certain price action make sure you don't have any opposite price action in play...
here is what i mean...
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  • #2,052
  • Jun 18, 2009 5:18am Jun 18, 2009 5:18am
I guess you analysed rightly but your analysis needs some fine-tuning,the timing of the pin-bar was right but the location was faulty becos right above you was a significant round no(1.4000),EU has being playing around here for a while,that the only thing that made it fail i guess.I hope it helps


Quoting nomask
i got stopped out on this eurusd trade...to be honest at the time i was bored by not taking any trades almost two weeks so i was looking for anything to get in a trade..This mistake cost me one percent of my capital...
now i'm bored and also feeling silly
do something else if you're bored
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #2,053
  • Jun 18, 2009 11:33am Jun 18, 2009 11:33am
Hey CW:

a few questions:

a) Do you use fibs from the time frame you are trading (i.e. if I am taking a 4 hr pin bar do I use 4 hr fibs or weekly, etc.)?

b) Same question for trend lines.

I realize these are secondary indicators only used to confirm positions, but I find myself questioning positions because on a the EUR/CAD for example about a day ago a pin showed on the 4 hr chart which reacted to 23% fib on the monthly/weekly but price was having a tough battle with 23% support on the 4 hr chart. Just curious what you give the most weight in these conditions.

I do have a pending short on this pair about 15 pips from the low of the pin bar. I am still waiting as of this morning. 2 major reasons for entry: pin bar with the bearish trend; been a selloff since early this year (price reacted harshly to 23% monthly fib, too).

Thanks, as always.
  • #2,054
  • Jun 18, 2009 2:57pm Jun 18, 2009 2:57pm
Quoting drebin
Hey CW:

a few questions:

a) Do you use fibs from the time frame you are trading (i.e. if I am taking a 4 hr pin bar do I use 4 hr fibs or weekly, etc.)?

b) Same question for trend lines.

I realize these are secondary indicators only used to confirm positions, but I find myself questioning positions because on a the EUR/CAD for example about a day ago a pin showed on the 4 hr chart which reacted to 23% fib on the monthly/weekly but price was having a tough battle with 23% support on the 4 hr chart. Just curious what you give the most weight...
I use fibs and trend lines from the weekly chart. I am aware of trend lines on lower time frames, but don't worry too much about them. I sometimes will use trend lines on the weekly to define the overall trend.

CW
  • #2,055
  • Jun 18, 2009 4:09pm Jun 18, 2009 4:09pm
Usdjpy...i'll take this long if that two-day pinbar gets broken by 20 pips or so..
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  • #2,056
  • Jun 18, 2009 4:46pm Jun 18, 2009 4:46pm
Hi CW,

any interest in the daily pin on eur/gbp.

 

  1. in direction of trend
  2. long nose
  3. bounce off PPZ around 0.86

but it is at a swing low. any thoughts? thanks!

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  • #2,057
  • Jun 18, 2009 5:03pm Jun 18, 2009 5:03pm
Quoting nomask
Usdjpy...i'll take this long if that two-day pinbar gets broken by 20 pips or so..
Hi Nomask. The charts look good for a long. The 96.50 area has been an area of support and resistance since March 2008.
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  • #2,058
  • Jun 18, 2009 5:11pm Jun 18, 2009 5:11pm
Sorry guys I've been a little out of my head lately, but weren't we looking at this EURJPY area a week or so ago waiting for a test of the broken trendline?

Someone update me what's going on but I'm seeing some potential here on the daily.
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  • #2,059
  • Jun 18, 2009 5:21pm Jun 18, 2009 5:21pm
Hi all,

two great setups..
beautiful pins in the direction of the trend..

Gbp/Chf is also reacting from an important support..

Clode
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  • #2,060
  • Jun 18, 2009 7:15pm Jun 18, 2009 7:15pm
I did another audio piece on the blog. I managed to incorporate Ozzy and trading. Go figure.

CW
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