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Silent Service Method

  • #2,721
  • Jul 6, 2009 3:32am Jul 6, 2009 3:32am
Quoting SaepeExertus
Thank you Josh. I am going to redo the montage as another member has noted they seem a bit confusing.

This may take some time but I believe the results will be more useful to all us new traders.

Would you post a chart that illustrates the double inside bars you are using?

I appreciate your input very much. Thanks Again…

http://www.forexfactory.com/showthre...24#post2846824
  • #2,722
  • Jul 6, 2009 4:23am Jul 6, 2009 4:23am
Quoting Mr Smith
yea I had the same question, if taking PA into consideration, then somethings a miss with the rules used for that analysis.
My guess is no, and I have to wonder how hes drawing his S/R lines, could be on the hourly rather than weekly. Weekly S/R and good PA bars with a third reason like fib level to me would give 95% success of making some profit provided you manage the trade well.
Economists have forecast 9 out of the last 5 recessions
  • #2,723
  • Jul 6, 2009 4:35am Jul 6, 2009 4:35am
Quoting observer2000
Unfortunately, you dont like facts
Chris loves facts. His favourite one is 2 years of consistent monthly profits and better returns than Bernie Madoff.
  • #2,724
  • Jul 6, 2009 8:01am Jul 6, 2009 8:01am
Quoting SkyzerFX
Look at the Dollar right now $1.3987.. How long you think it will
hold there??? I give it 1-2 days and you see it back over $1.4060,
check back on Monday..
OOPS! I think you should check Jacko's thread for his Anti Hedge Strategy
  • #2,725
  • Jul 6, 2009 8:20am Jul 6, 2009 8:20am
Quoting aarangio
Hi ya CW,

I just wanted to say thanx for an awesome thread you've created here i've learn't loads here and realise the importance of S/R areas now after all my time of learning using mainly the usual indicator crutches to trade, sort of an ah ha! moment for me ..

I wanted to ask you a quick question on this S/R area and how you would trade it?
I'm confused on where to put the S/R line on this one 1.6250 or 1.6200 and...
Actually, if you zoom out to say a daily or weekly chart - you will see the top of that consolidation is a little more important than the bottom in the "big picture". I would think of it along those lines.....

Welcome to the thread Adrian.
  • #2,726
  • Jul 6, 2009 9:46am Jul 6, 2009 9:46am
Something I'm watching.

http://i40.tinypic.com/2lnbqcj.png
  • #2,727
  • Jul 6, 2009 10:08am Jul 6, 2009 10:08am
Ditto only difference I have is my sr is at 62

Quoting Low
Something I'm watching.

http://i40.tinypic.com/2lnbqcj.png
  • #2,728
  • Jul 6, 2009 10:13am Jul 6, 2009 10:13am
Quoting kodflakes
Ditto only difference I have is my sr is at 62
Maybe she'll give us some juicy PA.
  • #2,729
  • Jul 6, 2009 10:48am Jul 6, 2009 10:48am
Quoting Low
Maybe she'll give us some juicy PA.
Not very round numbers you fellas are using!
  • #2,730
  • Jul 6, 2009 11:06am Jul 6, 2009 11:06am
well if you take a look at it 95 is looking like where my 4hr is going to close and there is a 50 pip zone lately. So there is your round number. But thanks for throwing that out there it made me take a second look.

Quoting hel13rock
Not very round numbers you fellas are using!
  • #2,731
  • Jul 6, 2009 11:37am Jul 6, 2009 11:37am
Low
are you looking for the daily or 4hr right now I got 25 minutes till the close and a big ole hammer looking for about 85 or better to get in not sure if that is gonna come but things look really good in my opinion

Quoting Low
Maybe she'll give us some juicy PA.
  • #2,732
  • Edited 1:22pm Jul 6, 2009 12:29pm | Edited 1:22pm
CW, is this eurgbp chart too messy to take a short? The daily candle is looking like a nice pin off the trendline, 3rd or 4th touch and it looks like it can't close above 0.86. It looks like a reasonable trade except for the noise in the lead up to it. I think I may pass on this one but would appreciate your opinion?
Edit: Looking back, the previous pin would have been the kind of PA to look for, correct?

Also that eurjpy I showed you the other day looks a bit shaky too. A few hours til the close yet but it broke right through that pretty strong trendline and may or may not close above the s/r line. Another pass.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurgbp short.gif Size: 27 KB
Click to Enlarge Name: eurjpy long.gif Size: 25 KB
  • #2,733
  • Jul 6, 2009 2:43pm Jul 6, 2009 2:43pm
Good free ebook I found somewhere else on this forum. I especially like the bit about patience and deerstalking... reminds me of, erm, submarines...
Attached File(s)
File Type: pdf FTW Chris Lori FXF nov 07.pdf   108 KB | 599 downloads
  • #2,734
  • Jul 6, 2009 2:45pm Jul 6, 2009 2:45pm
Hi ya CW,

Thanx for getting back to me on this..

Really sorry but I'm a bit confused on your answer ....are you just saying to zoom the chart out and it will give you a clearer picture of what is going on there with S/R areas and doesn't look so messy.... and if trying to place a buy/sell on this 4h chart there is just to much traffic/consolidation to trade off placing to much risk on a trade like this?

Thanx once again for your help,

Adrian

Quoting clockwork71
Actually, if you zoom out to say a daily or weekly chart - you will see the top of that consolidation is a little more important than the bottom in the "big picture". I would think of it along those lines.....

Welcome to the thread Adrian.
  • #2,735
  • Jul 6, 2009 3:20pm Jul 6, 2009 3:20pm
Quoting clockwork71
Move along, you obviously don't get it.
You think so? Ok,.. Just check my charts.. I take a position

here:

Image 1 (showing loss about $1300), - look how average down buys are

placed.

Day 2 (Already in win about $160), but I refuse to close trades,

OK, Image #3, Market still move against me and another BUY executed

lower... Every single system are showing SELL and LOSS.. Well, guess

what, I just close the trade with $200 profit ( I know it will go move

up much higher from now) but, I just decide to take trades up from here

WIN / WIN... Got it?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: buy_tot_pic_d1.jpg Size: 206 KB
Click to Enlarge Name: buy_tot_pic_d2.jpg Size: 197 KB
Click to Enlarge Name: buy_tot_pic_d3.gif Size: 34 KB
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #2,736
  • Jul 6, 2009 3:21pm Jul 6, 2009 3:21pm
Quoting aarangio
Hi ya CW,

Thanx for getting back to me on this..

Really sorry but I'm a bit confused on your answer ....are you just saying to zoom the chart out and it will give you a clearer picture of what is going on there with S/R areas and doesn't look so messy.... and if trying to place a buy/sell on this 4h chart there is just to much traffic/consolidation to trade off placing to much risk on a trade like this?

Thanx once again for your help,

Adrian
The higher the time frame the less noise you encounter. Zoom the weekly chart out as far as you can and you'll see the points where price has reacted again and again to the same levels.

I've not looked at the chart but I think CW will mean that the top level of that zone has historically acted as s/r and so deserves more attention now as somewhere most likely to give you clear information of which way to trade.

A 4hour chart will always give you more noise but that means when you do get a clear signal it is telling you something IN CAPITAL LETTERS!

Hope this helps and if it's wrong CW will surely let you know.
  • #2,737
  • Jul 6, 2009 3:28pm Jul 6, 2009 3:28pm
Quoting SkyzerFX
You think so? Ok,.. Just check my charts.. I take a position

here:

Image 1 (showing loss about $1300), - look how average down buys are

placed.

Day 2 (Already in win about $160), but I refuse to close trades,

OK, Image #3, Market still move against me and another BUY executed

lower... Every single system are showing SELL and LOSS.. Well, guess

what, I just close the trade with $200 profit ( I know it will go move

up much higher from now) but, I just decide to take trades up from here

WIN / WIN... Got it?
So you took a $1300 drawdown to make $200? One day that system is going to bite you on the ass and hard!

Forex trends. You are trading the uptrend in eurusd and having great success which I don't begrudge you, I didn't make $200 today, but what happens when the trend reverses and eurusd just keeps going against your position? You can't keep opening trades forever.

Trust me, if you carry on using that system you will go broke. Maybe not today, maybe not tommorrow but soon.
  • #2,738
  • Jul 6, 2009 3:31pm Jul 6, 2009 3:31pm
Quoting hel13rock
CW, is this eurgbp chart too messy to take a short? The daily candle is looking like a nice pin off the trendline, 3rd or 4th touch and it looks like it can't close above 0.86. It looks like a reasonable trade except for the noise in the lead up to it. I think I may pass on this one but would appreciate your opinion?
Edit: Looking back, the previous pin would have been the kind of PA to look for, correct?

Also that eurjpy I showed you the other day looks a bit shaky too. A few hours til the close yet but it broke right through that pretty strong...
It looks like a good setup to me, I might also add that its also at a 50% daily retracement from the previous swing high and low...
  • #2,739
  • Jul 6, 2009 3:33pm Jul 6, 2009 3:33pm
I saw a picture of Nison and in the background he had a poster that said losers average losers.
  • #2,740
  • Jul 6, 2009 3:41pm Jul 6, 2009 3:41pm
Quoting split_unit
It looks like a good setup to me, I might also add that its also at a 50% daily retracement from the previous swing high and low...
Yes, I've noticed that after the event. I've been using fibonacci less and less recently but that's a classic 50%.

I guess I'm just worried about all the messing about it's been doing recently without any clear direction in the short to medium term.
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