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Silent Service Method

  • #2,121
  • Jun 21, 2009 9:22am Jun 21, 2009 9:22am
Hi!
I am trying to open my mind and include other products out of forex to my trading experience.
I selected all mini contracts for commodities, metals and indexes, and am trying to identify good opportunities.
This is one (soybeans) I am deeply considering, (appart from the copper chart I posted yesterday in J16 thread).
I would appreciate your comments.
Thanks!
Attached Image (click to enlarge)
Click to Enlarge Name: soybean.gif Size: 21 KB
Trading: the skill of avoiding trades
  • #2,122
  • Jun 21, 2009 10:06am Jun 21, 2009 10:06am
This is crude.
I see this PB is below a long term PPZ, just at FIB 38.2.
Nose is not too long, and I would like the body to be black, and in lower position. But strong PPZ may worth to short it.
Thanks for your comments!

PS: CW, if you consider I shouldn't post that often this kind of non-forex charts just tell me
Attached Image (click to enlarge)
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Trading: the skill of avoiding trades
  • #2,123
  • Jun 21, 2009 11:33am Jun 21, 2009 11:33am
Quoting clockwork71
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 ....
Once setup correctly you can just use them. That's why I have two scripts, one for saving all the objects on the chart in a file and one for restoring them from a file.

I use these scripts because currently I also play a bit with my chart template and if I change the template I would have to load it for every chart and if the template is loaded all the S&R lines and areas have to be redrawn and this is annoying. I use it also to transfer them from my demo account installation to my live account installation because I NEVER EVER play with my live account installation with things such mql development.

If interested the files are stored in "/experts/metatrader/" with a filename like "Objects-EURJPY.dat" what means per symbol there can exist exactly one file.

CW I hope you don't mind it, I don't like to clutter up your thread with MT4 stuff but I think this fits here.

stefx.
Attached File(s)
File Type: ex4 Save Objects.ex4   4 KB | 277 downloads
File Type: ex4 Load Objects.ex4   4 KB | 280 downloads
10 x 100 = 100 x 10, stefx, retired scalper.
  • #2,124
  • Jun 21, 2009 12:08pm Jun 21, 2009 12:08pm
Quoting eswap0
Hi!
I am trying to open my mind and include other products out of forex to my trading experience.
I selected all mini contracts for commodities, metals and indexes, and am trying to identify good opportunities.
This is one (soybeans) I am deeply considering, (appart from the copper chart I posted yesterday in J16 thread).
I would appreciate your comments.
Thanks!
Hi, eswap. I think that's a good-looking pinbar, with a stout resistance zone ahead of it.

As a former farmer from Illinois, I can tell you that this is bigtime soybean planting season in the Midwest, and that the grain prices are correlated bigtime to $ strength/weakness and commodity prices (so your bean bar and crude bar may very well go hand in hand). The more beans get planted, the more price will drop, as well.
Of course, we had some sort of quadruple witching day Friday which may have been responsible for the selloff in crude. I wouldn't be surprised to see oil go back up. We have a big 4th of July weekend coming up with lots of potential U.S. travel. I just don't see oil prices dropping yet.
I've lurked for awhile and am trying to become an active poster. If there is something I did incorrectly, by all means, someone let me know, and I will correct it. This thread, J16, and Jacko's thread have helped me a lot.
  • #2,125
  • Jun 21, 2009 12:19pm Jun 21, 2009 12:19pm
Quoting eswap0
This is crude.
I see this PB is below a long term PPZ, just at FIB 38.2.
Nose is not too long, and I would like the body to be black, and in lower position. But strong PPZ may worth to short it.
Thanks for your comments!

PS: CW, if you consider I shouldn't post that often this kind of non-forex charts just tell me

NO....PLEASE post different markets. I highly recommend looking everywhere. I like the fact that you are looking elsewhere for trades.
  • #2,126
  • Jun 21, 2009 12:20pm Jun 21, 2009 12:20pm
Quoting stefx
Once setup correctly you can just use them. That's why I have two scripts, one for saving all the objects on the chart in a file and one for restoring them from a file.

I use these scripts because currently I also play a bit with my chart template and if I change the template I would have to load it for every chart and if the template is loaded all the S&R lines and areas have to be redrawn and this is annoying. I use it also to transfer them from my demo account installation to my live account installation because I NEVER EVER play with my live...

No, thank you for posting these here!

CW
  • #2,127
  • Jun 21, 2009 12:22pm Jun 21, 2009 12:22pm
Quoting Bluegrass4X
Hi, eswap....
Welcome to the thread. I am not a fundies type of trader - but I certainly don't mind them being discussed. Besides, I would rate your post as "common sense through experience" than fundamental anyways. And being a farmer from the Midwest, I am sure you understand common sense is rare these days.

It's nice we can profit from it, huh?

Thank you for posting.

CW
  • #2,128
  • Jun 21, 2009 12:31pm Jun 21, 2009 12:31pm
Thanks Clockwork. I was just putting some things out there to think about. I understand yours is basically a TA thread. I try to incorporate any knowledge of fundies I have in my trading.
I'm a little hesitant about making trades on currencies or commodities I'm not that familiar with, regardless of the technical setup. I think some fundamental knowledge and examination about what you're trading is necessary, imho.
I appreciate your welcome.
  • #2,129
  • Jun 21, 2009 1:05pm Jun 21, 2009 1:05pm
Quoting Bluegrass4X
Hi, eswap....
Thanks for your reply Bluegrass4X.
It's really interesting (not joking at all) how soybeans we are trading with are really farmed, an petrol is really used by cars in large week-ends, etc.
Sometimes we forget about the real underlyings of our futures and options.
Time ago I decided to look just at technicals (I don't pretend to open again the old discusion ) as I won't ever be able to be an expert on every product, company or market I am trading with.
I totally agree with this audio from CW blog (can I hot-link it?) regarding noise, news and fundamentals.
Take care!
Trading: the skill of avoiding trades
  • #2,130
  • Jun 21, 2009 1:09pm Jun 21, 2009 1:09pm
Hi ,

you dont need to go through all that once your through with your setup,go to profiles and save it,and close the platform anytime you want it back go to profiles and open it with all your saved setups,hope it helps.


Quoting stefx
Once setup correctly you can just use them. That's why I have two scripts, one for saving all the objects on the chart in a file and one for restoring them from a file.

I use these scripts because currently I also play a bit with my chart template and if I change the template I would have to load it for every chart and if the template is loaded all the S&R lines and areas have to be redrawn and this is annoying. I use it also to transfer them from my demo account installation to my live account installation because I NEVER EVER play with my live...
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #2,131
  • Jun 21, 2009 1:24pm Jun 21, 2009 1:24pm
Quoting eswap0
Thanks for your reply Bluegrass4X.
It's really interesting (not joking at all) how soybeans we are trading with are really farmed, an petrol is really used by cars in large week-ends, etc.
Sometimes we forget about the real underlyings of our futures and options.
Time ago I decided to look just at technicals (I don't pretend to open again the old discusion ) as I won't ever be able to be an expert on every product, company or market I am trading with.
I totally agree with this audio...
Well, it's sure uncanny how those oil prices found their way up in the weeks leading up to Memorial Day Weekend and the onset of summer, isn't it? But who's to say oil won't go on down this week and then up the next? Trade what you see on your own analysis. I have some of my own opinions. 25 of them @2cents used to buy a Snickers bar, but it won't even do that anymore, lol.
  • #2,132
  • Jun 21, 2009 1:25pm Jun 21, 2009 1:25pm
Hi CW,

I'd love to trade stocks but there's one thing that bothers me a lot, and that are those evil overnight-gaps you sometimes get in stocks. I mean if you buy a stock at $50 with a stop-loss at $48 and you risk 2% of your account and next day it opens at $20 you've lost a lot more than you wanted to risk. How do you handle that? Just ignore it or buy some OTM put options?

Take care and thanks for that thread,

Marco
  • #2,133
  • Jun 21, 2009 1:28pm Jun 21, 2009 1:28pm
Quoting lordgbengs
Hi, you dont need to go through all that once your through with your setup,go to profiles and save it,and close the platform anytime you want it back go to profiles and open it with all your saved setups,hope it helps.
I have profiles for EUR, USD, ... to have less tabs on each profile and I know the platform persists that stuff and restores it the next time started. Believe me there is no way around other than redrawing or the save/restore scripts if the same template is used for all charts and it need to be applied after it was changed for any reason because there are no objects in my common template.
10 x 100 = 100 x 10, stefx, retired scalper.
  • #2,134
  • Jun 21, 2009 2:30pm Jun 21, 2009 2:30pm
For those who like same as me practizing this method also with futures, stocks, etc. and were looking for metatrader demo accounts for this I may just have found something.

I don't name their website here because I don't want to advertise but enter this IP (216.93.180.133:443) into the metatraders server list and open a demo account. You can google them with the company name you get into the terminals built in email if you like to know more. They state on their webpage to have 900 trading instruments. I did not count them but the market watch is full of entries.

Please make your due diligence if you want to do more with than demo.

stefx.
10 x 100 = 100 x 10, stefx, retired scalper.
  • #2,135
  • Jun 21, 2009 9:23pm Jun 21, 2009 9:23pm
Quoting stefx
For those who like same as me practizing this method also with futures, stocks, etc. and were looking for metatrader demo accounts for this I may just have found something.

I don't name their website here because I don't want to advertise but enter this IP (216.93.180.133:443) into the metatraders server list and open a demo account. You can google them with the company name you get into the terminals built in email if you like to know more. They state on their webpage to have 900 trading instruments. I did not count them but the market watch...

Pretty good find bud, def. lots of securities with our familiar platform. Thanks,

Jonas
  • #2,136
  • Jun 21, 2009 9:41pm Jun 21, 2009 9:41pm
Here's what's going on with my 83@SEHK (Sino Land) Trade.
Attached Image (click to enlarge)
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  • #2,137
  • Jun 21, 2009 9:54pm Jun 21, 2009 9:54pm
Quoting Marco
Hi CW,

I'd love to trade stocks but there's one thing that bothers me a lot, and that are those evil overnight-gaps you sometimes get in stocks. I mean if you buy a stock at $50 with a stop-loss at $48 and you risk 2% of your account and next day it opens at $20 you've lost a lot more than you wanted to risk. How do you handle that? Just ignore it or buy some OTM put options?

Take care and thanks for that thread,

Marco
Truthfully, this can usually be avoided to some point by trading only "liquid" stocks. It takes a lot more for IBM to do that than say some small tech company. Volume is everything in stocks.

CW
  • #2,138
  • Jun 21, 2009 10:12pm Jun 21, 2009 10:12pm
try and look for stocks that are very liquid/lots of volume to read and generally dont gap all too often... a chart full of gaps can be quite messy... however the odd small gap often gives a good place to draw PPZ as price often tries to re-test a gap...

atm im trying to go through most liquid stocks on all exchanges and selecting the 'cleaner' looking charts, some PPZ (zones) are really obvious even to a 5 year old
Grabbing the bull by the horns!
  • #2,139
  • Jun 21, 2009 10:54pm Jun 21, 2009 10:54pm
Quoting clockwork71
Here's what's going on with my 83@SEHK (Sino Land) Trade.
Did you trade this using Interactive Brokers Chris?

Also, how did you find it? I know you use Stock Charts but I thought you followed only the most liquid dow stocks? That program doesn't look like stock charts and so I'm interested in your daily or weekly screening routine and how you keep up with everything.

Thanks.
  • #2,140
  • Jun 21, 2009 10:55pm Jun 21, 2009 10:55pm
Watching this stock as well....
Attached Image(s) (click to enlarge)
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