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Silent Service Method

  • #2,101
  • Jun 20, 2009 11:35am Jun 20, 2009 11:35am
Quoting Danku
Nice long hel13rock.....i think the long should pay off.Ave been watching this pair for about three/four days and here is may take on it. It is the main trend direction (i love this), it has break the green trendline to the up direction, it has made a pullback and wants to continue with the trend...my only worry is that GREY Resistance.......if it breaks and GIVES ME A SIGNAL......am long.....what you think???????
Hi Danku, sure that level was the previous swing high but given the strength of the trend that won't worry me too much. I only worry about the major s/r levels from the weekly chart.

5abi, I can see your point but if the price tests that level again I'm good for 400 pips so I don't see the problem? Like I said, if it doesn't play out it's no big deal. I had considered that it may be about to double top at 89. Oil has been high and increasing recently but for no very good reason so a sharp correction affecting cad wouldn't surprise me too much.
  • #2,102
  • Jun 20, 2009 12:00pm Jun 20, 2009 12:00pm
Quoting whitegoodman
the misguided magic of elliot wave counts

OOOOHHHHHHH! That. Elliot wave is probably the absolute worst in my opinion. You always read analysis like "We are forming a possible C wave." I think that if you got 5 Elliot Wave traders in a room looking at the same chart - you would have at least 5 different wave counts, and another 15 or so "possible" ones.

What a load of garbage.
  • #2,103
  • Jun 20, 2009 12:15pm Jun 20, 2009 12:15pm
A few people have been asking about the recent USD/CAD pinbar. While I can't say it's a horrible trade - it's not an A grade one as these two charts attempt to show.
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  • #2,104
  • Jun 20, 2009 1:34pm Jun 20, 2009 1:34pm
I don't think I'm gonna take this unless it heads northward to give a little better RR, but just going through all the charts really does show that there could be opportunity anywhere. I am currently printing out the charts that interest me for this week, maybe something useful will appear.

http://i42.tinypic.com/20f87mh.png
  • #2,105
  • Jun 20, 2009 4:04pm Jun 20, 2009 4:04pm
Quoting clockwork71
A few people have been asking about the recent USD/CAD pinbar. While I can't say it's a horrible trade - it's not an A grade one as these two charts attempt to show.

Thanks so you for your input CW, it really helps to understand how you see it.
  • #2,106
  • Jun 20, 2009 4:56pm Jun 20, 2009 4:56pm
This thread reminds me very much of James16 stuff in fact it is basically James16. I see there is no thanks given to J16 on the first post... this reveals a lot about the character (or lack of) the thread starter. Shows you the quality of FF these days.. wish I was here when Darkstar et al were here with some original stuff.
Economists have forecast 9 out of the last 5 recessions
  • #2,107
  • Jun 20, 2009 5:12pm Jun 20, 2009 5:12pm
My earlier post stated that the EUR/GBP and it's GBP/CHF sister are both showing nice pins, though the move may already be too developed to justify getting on board. However, when I zoomed out on the GBP/CHF monthly, it's smack up against resistance from December 1995. Since there's about 10 days left in the month, I think I will keep an eye on this and see how the candle closes.
  • #2,108
  • Jun 20, 2009 5:41pm Jun 20, 2009 5:41pm
Quoting markmm
This thread reminds me very much of James16 stuff in fact it is basically James16. I see there is no thanks given to J16 on the first post... this reveals a lot about the character (or lack of) the thread starter. Shows you the quality of FF these days.. wish I was here when Darkstar et al were here with some original stuff.
I'm sorry that we keep bumping heads here. It seems you can't get over the "in training" comment. I am sorry if I hurt your feelings.

While you are pulling your foot out of your mouth, I suppose I could state yet again in this thread that you have not bothered to read that I am a Senior Member of J16, which means I have my own forum there, and give webinars. (That would be where I give a lecture, shows some charts, and people dial in to watch and ask questions in case you don't know.)

However, I do not trade like Jim that much to be honest. Jim will be the first to tell you he doesn't have 500 pip trades, nor does he risk a few hundred pips on trades. Also, Martin Pring's Price Patterns (yet again....mentioned before) is where most of this material comes from. (Same as J16)

You obviously haven't bothered reading either thread, as there are significant differences. I simplify it a bit more than Jim does, as I am probably a little more relaxed about losses. I tend to let trades run for days, sometimes not even bothering to check them in the mean time as I have more important things to do than sit at the screen watching a trade develop.

I mentioned once before, this is not a dick measuring contest. I will let you get back to your training Sir.

CW
  • #2,109
  • Jun 20, 2009 5:54pm Jun 20, 2009 5:54pm
Quoting Low
My earlier post stated that the EUR/GBP and it's GBP/CHF sister are both showing nice pins, though the move may already be too developed to justify getting on board. However, when I zoomed out on the GBP/CHF monthly, it's smack up against resistance from December 1995. Since there's about 10 days left in the month, I think I will keep an eye on this and see how the candle closes.
My take on this chart. Great observation by the way.
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  • #2,110
  • Jun 20, 2009 11:38pm Jun 20, 2009 11:38pm
I have to say this is the most interesting and amazing find on PA i have ever seen. I worked at a bank, and I always would hear the Investment team whisper about price actions. I some what knew what they mean but not like this. Its just sad it took me 3 years to finally change over.......my my my why didnt i listen and start sooner.....CW, I have spent the last 4 days reading this thread and its more like a book. I see why I had been such a failure at this, I was making it so hard and looking for the golden Click ( click of a button that is...lol ). I have to start over now. Where would be a good place to learn about Pin Patterns, that seem to be the only thing I am some what confused about. I have drawed on a few charts this weekend myself. I am taking the right step I feel.
CYCLES, Cycles, cycles
  • #2,111
  • Jun 21, 2009 1:33am Jun 21, 2009 1:33am
Quoting clockwork71
You obviously haven't bothered reading either thread ...
Don't let this give an impact to you and your thread. Keep it up mate !

stefx.
10 x 100 = 100 x 10, stefx, retired scalper.
  • #2,112
  • Jun 21, 2009 2:38am Jun 21, 2009 2:38am
first, great thread! i makes fun reading your posts! great!

what do you guys think about this pin?

50% fib retracement, round number, convergence...
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meine augen sind die sterne
  • #2,113
  • Edited 3:59am Jun 21, 2009 3:39am | Edited 3:59am
Quoting clockwork71
I'm sorry that we keep bumping heads here. It seems you can't get over the "in training" comment. I am sorry if I hurt your feelings.

While you are pulling your foot out of your mouth, I suppose I could state yet again in this thread that you have not bothered to read that I am a Senior Member of J16, which means I have my own forum there, and give webinars. (That would be where I give a lecture, shows some charts, and people dial in to watch and ask questions in case you don't know.)

However, I do not trade like Jim that much to be honest....
OK, I have watched you videos on J16 PF and they are excellent especially the weekly setup video. I take back my previous post as it was out of me being a dick. This thread is very good I have read it and J16 and there focus is different. Ignore my previous post it was a blatant retaliation at a perceived insult.
Economists have forecast 9 out of the last 5 recessions
  • #2,114
  • Jun 21, 2009 3:39am Jun 21, 2009 3:39am
The weekly charts are giving me the time for getting routine and business intelligence into. I have setup a private forum where I keep my trade setups and journal.

It has a hierarchy like [Demo, Live] / [Trading System] / [Setups, Open, Archive].

As usual for the weekly S&R method I write down the setups I find on the charts today and the criterias I want to see for an entry. I also try to classify them (A++, A+, A, B, C) by reasons which are against the trades, R/R, ...

If I enter one I move it into the section of the open trades and each time I manage the trade (move SL, scale in/out) I write a new reply.

If the trade is closed I move it into the section archive and make a post trade analysis. If also a setup did not give a trade and is expired I move it into the archive section.

This way I eliminated several setups already while writing them down because when I can't properly explain in words why I would trade this it should be probably not traded. I still write them down because I like to keep this documented but they are classified as C(rap).

The following week I just need to look at my Setup section and I know what to do and when.

I feel as I am slowly but steady getting there.

stefx.
10 x 100 = 100 x 10, stefx, retired scalper.
  • #2,115
  • Jun 21, 2009 4:08am Jun 21, 2009 4:08am
Well I think you've gained a little respect back for the previous post. A lot of people who have become profitable through this thread would have been majorly peeved at your first post.

I've always thought this method is slightly different from j16. Sure some aspects of it are similar but we're trading, how much different is one method to another?

There are plenty of other threads and posters on here who know what they are doing and are happy to share their experience and knowledge with less experienced or succesful traders like myself. Jacko springs to mind.

For me, and it seems a lot of other regular followers of this thread, I find the level of debate, discussion and advice on this thread to be very high and without it I'm not sure I'd have been profitable for the last 3 months in the way I have and not just because of CW but because of all the other regular contributors to the thread including, and not limited to whitegoodman, nomask, nebuman, jduester, canuck ct and all the others.

Now, let's get back to the business at hand and learn how to trade!
  • #2,116
  • Jun 21, 2009 5:08am Jun 21, 2009 5:08am
Quoting clockwork71
If there is no clear signal, why bother getting involved?

Just my opinion.
USD/CAD daily
Many took the pinbar Wednesday. Some got out at b/e and others are in drawdown. Short trend is down.
Two Bar [matching] High (TBH) formed Thurs/Fri. So conflicting directions over the last 3 days.
I like the idea of a break long from the TBH to run to 1.15 but will be watching from sidelines...

CW, great audio blog entry btw.

Josh
Attached Image
  • #2,117
  • Jun 21, 2009 5:33am Jun 21, 2009 5:33am
Hi!
I am in, and tonight shall move my SL from 1.1460 down to 1.1385.
If this PPZ is passed I think I souldn't take the risk of loosing 75 aditional pips as the trade is not that clear.
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Trading: the skill of avoiding trades
  • #2,118
  • Jun 21, 2009 8:19am Jun 21, 2009 8:19am
Quoting ecko85ecko
I have to say this is the most interesting and amazing find on PA i have ever seen. I worked at a bank, and I always would hear the Investment team whisper about price actions. I some what knew what they mean but not like this. Its just sad it took me 3 years to finally change over.......my my my why didnt i listen and start sooner.....CW, I have spent the last 4 days reading this thread and its more like a book. I see why I had been such a failure at this, I was making it so hard and looking for the golden Click ( click of a button that is...lol...

Read Martin Pring's books. There is a link somewhere in this thread to one of his titles. Pring is very good at making the actual bars simple.

Welcome.

CW
  • #2,119
  • Jun 21, 2009 8:21am Jun 21, 2009 8:21am
Quoting aserbfx
first, great thread! i makes fun reading your posts! great!

what do you guys think about this pin?

50% fib retracement, round number, convergence...

I like the shape of this chart. You have a reversal, a break out of sorts, (the new higher high) and a pullback that is ripe for letting the people that missed the initial push back in.

I would take this as a valid signal.

CW
  • #2,120
  • Jun 21, 2009 8:24am Jun 21, 2009 8:24am
Quoting stefx
The weekly charts are giving me the time for getting routine and business intelligence into. I have setup a private forum where I keep my trade setups and journal.

It has a hierarchy like [Demo, Live] / [Trading System] / [Setups, Open, Archive].

As usual for the weekly S&R method I write down the setups I find on the charts today and the criterias I want to see for an entry. I also try to classify them (A++, A+, A, B, C) by reasons which are against the trades, R/R, ...

If I enter one I move it into the section of the open trades and each time...
Good, I am glad to hear that you are making progress.

The beauty of setting up weekly S/R lines is that they don't change. It's also rare to have to add new ones. (Think all time new highs or lows is about it.) The great thing - once your charts are set.....they are set. I have been trading of some charts for over a year now.

Like I said.....I don't want to spend all day in front of the charts.

CW
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