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Silent Service Method

  • #3,121
  • Jul 13, 2009 9:28pm Jul 13, 2009 9:28pm
Quoting clockwork71
Simple, I just stick to the major index. I float through 40-odd charts, and leave it at that.....

I have no idea what I am trading most of the time to be honest. lol

Thanks for the info ^_^
  • #3,122
  • Jul 14, 2009 12:18am Jul 14, 2009 12:18am
thoughts on EURAUD... Iv'e actually taken the trade off for now and put the sell stop below 1.7800 at 1.7780 as on the 4hr 1.78 acted as S+R..
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Grabbing the bull by the horns!
  • #3,123
  • Jul 14, 2009 12:56am Jul 14, 2009 12:56am
Quoting clockwork71
Simple, I just stick to the major index. I float through 40-odd charts, and leave it at that.....

I have no idea what I am trading most of the time to be honest. lol
Look on Hang Seng at H share listing #2823. It is an IShares tracking fund listed in HK which tracks 50 stocks on the domestic China A shares market which is closed to foreigners.

I have been in this one, among others, for a while and still buy on pullbacks. The domestic Chinese are taking advantage of low bank interest rates to borrow money and put in the A share stock market.. As long as they keep doing it the domestic market will continue to climb. Some day it will crash, but my plan is to stay in, keep stops tight and ride as far as I can.

Edit - Chart is not showing so i removed.
"Money is easy to make, but hard to keep" - FWV 1975
  • #3,124
  • Jul 14, 2009 1:31am Jul 14, 2009 1:31am
i just couldn't ignore this setup...
long at gbpchf
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  • #3,125
  • Jul 14, 2009 1:35am Jul 14, 2009 1:35am
Quoting nomask
i just couldn't ignore this setup...
long at gbpchf
i also grabbed a bit of that and the AUDCHF... we shall see, but the 1.75 level is a bit of a no brainer on gbpchf at the moment.
Grabbing the bull by the horns!
  • #3,126
  • Jul 14, 2009 1:45am Jul 14, 2009 1:45am
Quoting nomask
i just couldn't ignore this setup...
long at gbpchf
Ditto, buy stop trig'd.
10 x 100 = 100 x 10, stefx, retired scalper.
  • #3,127
  • Jul 14, 2009 1:48am Jul 14, 2009 1:48am
Quoting whitegoodman
thoughts on EURAUD... Iv'e actually taken the trade off for now and put the sell stop below 1.7800 at 1.7780 as on the 4hr 1.78 acted as S+R..
i don't want to cause any confusion but here is my monthly and daily levels...hope your trade goes well..
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  • #3,128
  • Jul 14, 2009 2:30am Jul 14, 2009 2:30am
Long GBPCHF also. I see it up to the 18100 level, being June highs.

TonyH
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  • #3,129
  • Jul 14, 2009 2:47am Jul 14, 2009 2:47am
Quoting nomask
i don't want to cause any confusion but here is my monthly and daily levels...hope your trade goes well..
yeh i see 1.78 as more of a minor hurdle, 1.80 seems better to me as a zone, I guess we will soon see, im gonna just back my guns at 2% and let that baby go to SL or TP
Grabbing the bull by the horns!
  • #3,130
  • Jul 14, 2009 3:51am Jul 14, 2009 3:51am
I just noted something this monring (after a long time) while at the office and wanted to ask..................IS THERE ANYONE HERE REALLY TRADING OFF THE 4-HR EXCEPT ME AND NOT DOING WELL???

I am about to switch to the Daily Charts but have to wake up in the Middle of the Night see if there are trades and then hit the Bed again............My 4-hr experience has not been very succesfull but just made a decision to do Daily......i have noted the signals are much more accurate than the 4-hour......Any thoughts...........
  • #3,131
  • Jul 14, 2009 4:04am Jul 14, 2009 4:04am
Quoting Danku
I just noted something this monring (after a long time) while at the office and wanted to ask..................IS THERE ANYONE HERE REALLY TRADING OFF THE 4-HR EXCEPT ME AND NOT DOING WELL???

I am about to switch to the Daily Charts but have to wake up in the Middle of the Night see if there are trades and then hit the Bed again............My 4-hr experience has not been very succesfull but just made a decision to do Daily......i have noted the signals are much more accurate than the 4-hour......Any thoughts...........
that may come down to different brokers have dfferent times for their 4hr bars, where as daily is pretty uniform across most brokers... also for the fact the higher the timeframe the higher the weight.... another point maby, what i find anway, if i'm trading off a daily bar signal i'm less inclined to check the trade as often as a 4hr bar confirmation. Thus less interference on our part, and letting a trade do what it has to do...

OR it could be just a blind coincidence ha
Grabbing the bull by the horns!
  • #3,132
  • Jul 14, 2009 4:09am Jul 14, 2009 4:09am
Quoting Danku
I just noted something this monring (after a long time) while at the office and wanted to ask..................IS THERE ANYONE HERE REALLY TRADING OFF THE 4-HR EXCEPT ME AND NOT DOING WELL???

I am about to switch to the Daily Charts but have to wake up in the Middle of the Night see if there are trades and then hit the Bed again............My 4-hr experience has not been very succesfull but just made a decision to do Daily......i have noted the signals are much more accurate than the 4-hour......Any thoughts...........
I find the daily close gives me a more reliable signal. I lose less when I just trade daily bars and only daily bars and only check the trades once per day.

In terms of getting up in the middle of the night, I've been thinking about looking into different brokers and their daily candle close times. I'm in the UK so if I used an Australian broker would my daily candle close be somewhere around lunchtime here? The problem with that is that the London and New York sessions are the most important so it makes sense to take trades at the end of the New York session when most of the days movements are done. Maybe a US broker would suit better? Or just check the UK broker at 8pm instead of 12? Just something I'm thinking about.
  • #3,133
  • Jul 14, 2009 4:46am Jul 14, 2009 4:46am
I'm in the UK an also interested in this as staying up past midnight is difficult with work next day! it has been talked about on here before and I think some brokers do close at 10pm but not sure who.


Quoting hel13rock
I find the daily close gives me a more reliable signal. I lose less when I just trade daily bars and only daily bars and only check the trades once per day.

In terms of getting up in the middle of the night, I've been thinking about looking into different brokers and their daily candle close times. I'm in the UK so if I used an Australian broker would my daily candle close be somewhere around lunchtime here? The problem with that is that the London and New York sessions are the most important so it makes sense to take trades at the end of the...
  • #3,134
  • Jul 14, 2009 4:55am Jul 14, 2009 4:55am
hey any one know where cad/jpy is heading to, i am long but there has been conflicts,of biased mind on the trend.
  • #3,135
  • Jul 14, 2009 4:55am Jul 14, 2009 4:55am
Quoting advfntrader
I'm in the UK an also interested in this as staying up past midnight is difficult with work next day! it has been talked about on here before and I think some brokers do close at 10pm but not sure who.
FXDD and FXLITE.
Never underestimate an idiot.
  • #3,136
  • Jul 14, 2009 5:20am Jul 14, 2009 5:20am
Quoting dozzz71
hey any one know where cad/jpy is heading to, i am long but there has been conflicts,of biased mind on the trend.
as you know long term trend is short and i think you took the daily bullish engulfing pattern around 80.00 level and fib retracement as setup but the bar you took the trade is also an inside bar of the earlier bearish candle...i still think bears in play for this pair...
two things would make me concerned are below..
i do counter-trend sometimes but ready to escape if anything goes bad as you said its not that clear so keep an eye on it...
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  • #3,137
  • Jul 14, 2009 5:47am Jul 14, 2009 5:47am
Better explanation is here...
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  • #3,138
  • Jul 14, 2009 5:59am Jul 14, 2009 5:59am
Quoting advfntrader
I'm in the UK an also interested in this as staying up past midnight is difficult with work next day! it has been talked about on here before and I think some brokers do close at 10pm but not sure who.
In my opinion, price action is at its best when you look at the same charts most other traders do. Therefore I suggest you either stick to NY or London.

If a broker closes the day at 10 pm GMT, and you're about the only one looking at that individual chart (because all others look at London charts for example), you might as well look at the unclosed London daily bar and draw conclusions from that.

The reason for this is is that the self fulfilling prophecy part of price action doesn't hold if you see stuff that others don't see.

This is just my radical view though.
The nail that sticks out gets hammered back in
  • #3,139
  • Jul 14, 2009 6:02am Jul 14, 2009 6:02am
Never before this thread I had an output window showing only positive trades and now I have a number of eight in green.

The entries on daily (sometimes H4) based on PA at weekly S&R are the perfect way for me to "Plan the trade, trade the plan". I have to place my pending orders at 22:00 to 23:00 which leaves the daily candle a bit of time to change its shape but most of the time its original meaning will remain.

Thanks CW and all other gals/guys help guiding me there.

stefx.
10 x 100 = 100 x 10, stefx, retired scalper.
  • #3,140
  • Jul 14, 2009 6:46am Jul 14, 2009 6:46am
Quoting stefx
Never before this thread I had an output window showing only positive trades and now I have a number of eight in green.

The entries on daily (sometimes H4) based on PA at weekly S&R are the perfect way for me to "Plan the trade, trade the plan". I have to place my pending orders at 22:00 to 23:00 which leaves the daily candle a bit of time to change its shape but most of the time its original meaning will remain.

Thanks CW and all other gals/guys help guiding me there.

stefx.
same here
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