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Silent Service Method

  • #2,941
  • Jul 9, 2009 12:52pm Jul 9, 2009 12:52pm
Quoting clockwork71
If you click on her name, and then click on "Ignore" - they go away. You have to love modern technology.

Bye.
You can't ignore people when you need people to talk at!
  • #2,942
  • Jul 9, 2009 12:54pm Jul 9, 2009 12:54pm
Quoting whitegoodman

http://img112.imageshack.us/img112/5822/stfu5vj.gif
LOL! I like that!
  • #2,943
  • Jul 9, 2009 1:08pm Jul 9, 2009 1:08pm
nice setup on eurgbp....
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  • #2,944
  • Jul 9, 2009 2:14pm Jul 9, 2009 2:14pm
Already posted in James16 thread.

Look at this pin bar forming at a wonderful PPZ, trendline, 150EMA.
But the price is making lower highs.

Any idea?
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  • #2,945
  • Jul 9, 2009 2:21pm Jul 9, 2009 2:21pm
Quoting whitegoodman
heres something you may wanna do if your bored and wanna improve your TA skills... chart game

http://www.inspectd.com/

not as good as a simulator, though in some senses better, as when i simulate trading on say EURUSD its hard to take shorts over the past 5 years as I already know it was going up, this one you dont know what instrument or stock.
This sites great Whitegoodman,

It actually helped me alot with being fussy and skipping shares, adjusting my MM and to look for the right bars to trade...my account was down $60 000 now it's up $20 000..

cheers for the fun and the learning experiences i've got from it

Adrian
  • #2,946
  • Jul 9, 2009 2:22pm Jul 9, 2009 2:22pm
Will retracement stop here?
Can not draw any other confluence appart from TL, and FIB50.
Don't see how to trade it, appart from going to lower TF or a blind entry, which I won't do.
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Trading: the skill of avoiding trades
  • #2,947
  • Jul 9, 2009 2:23pm Jul 9, 2009 2:23pm
Quoting bakko85
Already posted in James16 thread.

Look at this pin bar forming at a wonderful PPZ, trendline, 150EMA.
But the price is making lower highs.

Any idea?
Looks like it's forming a triangle to me, I'd watch for a breakout of that.

Eurusd possibly forming a triangle to watch too.

Only PA I like today is gbpchf but it's moved a little too far on the daily to take a trade. I've put a buy limit at 1.7550. If it reaches that tomorrow I'll be happy as I think we could see a nice move up from this point. If I miss the trade I won't lose any sleep.
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  • #2,948
  • Jul 9, 2009 2:58pm Jul 9, 2009 2:58pm
Quoting eswap0
Will retracement stop here?
Can not draw any other confluence appart from TL, and FIB50.
Don't see how to trade it, appart from going to lower TF or a blind entry, which I won't do.
i still hold my short trade at breakeven level ...all i know is its worth to give it a chance...Because if it finishes the retracement and breaks below 1.58 level i'll consider 1.5 as a target area...
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  • #2,949
  • Jul 9, 2009 3:25pm Jul 9, 2009 3:25pm
Quoting pi piper
This touched 17650 today. I will be honest and admit I have no plan with this trade. Its been above 18000 recently so that would be nice obviously. Should I start moving stops to BE or just wait?

Thanks in advance.

Personally, I wouldn't take a loss at this point. It's a counter trend trade after all. But promise me - have a plan next time. Not a bad entry, and that's only half the challenge.
  • #2,950
  • Jul 9, 2009 3:27pm Jul 9, 2009 3:27pm
what about "deutsche boerse"?
strong support at 50 euro; 38,2% fib; divergence.
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meine augen sind die sterne
  • #2,951
  • Jul 9, 2009 3:28pm Jul 9, 2009 3:28pm
Quoting bakko85
Already posted in James16 thread.

Look at this pin bar forming at a wonderful PPZ, trendline, 150EMA.
But the price is making lower highs.

Any idea?

You mentioned the one thing I don't like about this - lower highs. I would at best expect this to be a consolidation type trade. I wouldn't necessarily expect to see a huge massive move up from here. I could be wrong of course......
  • #2,952
  • Jul 9, 2009 3:35pm Jul 9, 2009 3:35pm
Quoting aserbfx
what about "deutsche boerse"?
strong support at 50 euro; 38,2% fib; divergence.
On a chart like that, with the bars you have had since that pinbar.....what I would like to do is see which way it breaks from that pinbar. I would also wait for a daily close either short or long - it will show itself at that point. Remember - you don't have to be the first person into the trade to make money.
  • #2,953
  • Jul 9, 2009 3:38pm Jul 9, 2009 3:38pm
Quoting hel13rock

Only PA I like today is gbpchf but it's moved a little too far on the daily to take a trade. I've put a buy limit at 1.7550. If it reaches that tomorrow I'll be happy as I think we could see a nice move up from this point. If I miss the trade I won't lose any sleep.
Good girl. Nothing will get you hurt in this business quicker than chasing a trade. If you miss a set up - there will be more.
  • #2,954
  • Jul 9, 2009 4:42pm Jul 9, 2009 4:42pm
Quoting clockwork71
Personally, I wouldn't take a loss at this point. It's a counter trend trade after all. But promise me - have a plan next time. Not a bad entry, and that's only half the challenge.
Excuse my ignorance:

Is this counter trend? The trend looks up to me. Do you see today as a retracement before a continuation down?
  • #2,955
  • Jul 9, 2009 5:09pm Jul 9, 2009 5:09pm
Quoting pi piper
Excuse my ignorance:

Is this counter trend? The trend looks up to me. Do you see today as a retracement before a continuation down?
Yes counter trend. This chart looks a lot like the S&P 500, the Dow, and quite a few other indexes at the moment. This is a pivotal area for a lot of instruments. The truth show be obvious soon. Until then, don't get hurt.

CW
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  • #2,956
  • Jul 9, 2009 6:09pm Jul 9, 2009 6:09pm
Quoting TiaForex
Another thing I've found useful is to simply plot lines on the major round numbers, perhaps using a grid indicator. So for GU it'd be 1.5, 1.55, 1.6, 1.65 etc.

It's amazing how these line up with what I call my "Clockwork lines". I use them both. When the big round number lines up with a weekly PPZ/ Clockwork line, then we're really in business.

The advantage of the round number lines for me is that I'm not thinking in the back of my head "now did I draw that right?" which I sometimes am with my weekly PPZs.

I'm at the stage of this...
This is very good advice, some pairs require bigger round number like the GBP/JPY, where a s/r line on every 1000 pip line.
I hear and I forget. I see and I remember. I do and I understand.
  • #2,957
  • Jul 9, 2009 6:31pm Jul 9, 2009 6:31pm
I really do have too much time on my hands. I just noticed that clockwork and hel13 have the same birthday. And hel13 was born 5 days after me, same year.

So Geminis make better traders. It's official...
  • #2,958
  • Jul 9, 2009 7:36pm Jul 9, 2009 7:36pm
Here's what would seem like a random question....

I trade two stock markets (mainly). One is the NYSE, and the other is Hong Kong. I chose an Asian market because I am better at staying up than getting up. But why Hong Kong?

Truth is, this question isn't that random, and it has to do with Forex. I ask this question because there is a whole big world out there, and the more you know - the more you understand.

CW
  • #2,959
  • Jul 9, 2009 7:40pm Jul 9, 2009 7:40pm
Quoting clockwork71
Here's what would seem like a random question....

I trade two stock markets (mainly). One is the NYSE, and the other is Hong Kong. I chose an Asian market because I am better at staying up than getting up. But why Hong Kong?

Truth is, this question isn't that random, and it has to do with Forex. I ask this question because there is a whole big world out there, and the more you know - the more you understand.

CW
ummm you believe the Honk Kong dollar will strengthen against the US dollar, with youur funds being split in HKD's and USD, so you may win double with currency appreciation and stock price increases at the same time?
Grabbing the bull by the horns!
  • #2,960
  • Jul 9, 2009 8:08pm Jul 9, 2009 8:08pm
Quoting whitegoodman
ummm you believe the Honk Kong dollar will strengthen against the US dollar, with youur funds being split in HKD's and USD, so you may win double with currency appreciation and stock price increases at the same time?
Wrong. Now go punish yourself.

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