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Silent Service Method

  • #3,181
  • Jul 15, 2009 12:50am Jul 15, 2009 12:50am
Quoting Low
stefx, congrats on the eur/cad trade.
Thanks Low, but I just followed the S&R method. (Scan & Relax).

stefx.
10 x 100 = 100 x 10, stefx, retired scalper.
  • #3,182
  • Jul 15, 2009 2:29am Jul 15, 2009 2:29am
Quoting SimonK
I agree with the others that the pin is in traffic so I may pass on this trade, however this little range of consolidation has formed at support, so there's no way I would go short. I would say the PA is more bullish than bearish due to the last candle closing higher than the others.

I wouldn't be suprised if we had reached a fibonacci extension of the initial move down from 42 to 32, possibly a gartley, so another clue to the long side.

If I had to go long, I would wait for a pullback because theres not a lot of room to resistance at 30.


P.S....
Morcheeba is a great band, and I love this tune.
  • #3,183
  • Jul 15, 2009 3:23am Jul 15, 2009 3:23am
I'd buy that. Looks like a breakout from consolidation to me and you wouldn't need too big a stop loss to find out if you're right. If you are right there could be a nice big move up for you there.
  • #3,184
  • Jul 15, 2009 3:41am Jul 15, 2009 3:41am
[quote=clockwork71;2874074]Here's a little bit to get the discussion going.....

Take this chart here. Yesterday formed another..................

Would wait for a move up to the 200 and see if it is rejected again (Been rejected twice) then go SHORT IT.
  • #3,185
  • Jul 15, 2009 4:02am Jul 15, 2009 4:02am
Quoting clockwork71
Morcheeba is a great band, and I love this tune.
They are great, I find I can even watch CNBC with the yelling turned down and Morcheeba playing
If it's too good to be true, it probably is.
  • #3,186
  • Jul 15, 2009 4:41am Jul 15, 2009 4:41am
Chris, I think you should consider this...
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  • #3,187
  • Jul 15, 2009 5:05am Jul 15, 2009 5:05am
don't care about news like many of you here but since today there were two big news about both gbp and chf ,i took a look at both news because of my current gbpchf long trade...
chf had bad retail sales and gbp good ccc..which means bullish fundamental for this pair as well..
but again...never mind..
p.s:but i do still remember a theory something like"technical starts move and fundamental drives it"..umm maybe..don't care.
  • #3,188
  • Jul 15, 2009 5:38am Jul 15, 2009 5:38am
Quoting hel13rock
Chris, I think you should consider this... http://www.youtube.com/watch?v=JEag0ss9pFU

If I am going to do any British comedy type bands - it's gotta be one called Lawnmower Deth. And that's a great question - why do anarchists drink herbal tea? lol.

I remember when they were a bit tougher crowd myself.
  • #3,189
  • Jul 15, 2009 5:55am Jul 15, 2009 5:55am
These people could be on the other side of your trade. Never forget that.

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  • #3,190
  • Jul 15, 2009 6:05am Jul 15, 2009 6:05am
I am currently long this pair (since 13/06). My main problem is how does one set S/L & T/P on the dailys. I entered long @ 1.7490 and placed my S/L at 1.7379, 10pips below the PB (off the 4-hr)......fortunately things are looking up as i am still in this trade..................now move to the daily chart and the S/L will be way to big, over 225 pips.......is this the risk i should be willing to take? Prior to this long i had taken another GBPCHF long (last Friday) and my S/L and T/P off the 4-hr, came in Monday and i had been stopped......which is which...off the 4-hr.....has risk of being stopped or off the Daily and risk of big/massive S/L........and if one is using the >2:1, R:R, then you know what that means for T/P........need help guys/gals............

Cheers
  • #3,191
  • Jul 15, 2009 6:25am Jul 15, 2009 6:25am
Quoting Danku
I am currently long this pair (since 13/06)....
first of all...try to enjoy your trade...you got better entry than mine
i'm long at 1.76 level and not moved my sl to b.e yet...and yes i risked 235 pips but what matters is that i always risk only %1 of my capital...pips not important and i'm more interested in percentage...
here are the levels i'll consider as my targets..i like to set my initial target at least 2x more than what i risked but its not up to me how much market will pay off...as long as you're profitable trader r/r is not such a big deal..
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  • #3,192
  • Jul 15, 2009 6:25am Jul 15, 2009 6:25am
Quoting Low
stefx, congrats on the eur/cad trade.
Still not closed but was a bit nervous about giving back more than 100 pips but a free running trade well in plus and putting my stop behind the 38.2 retrace confluenced by weekly S&R, and daily pivot kept me in, and voila it seems to continue down. The biggest advantage in this method is that I am not at my charts to screw it up.

stefx.
10 x 100 = 100 x 10, stefx, retired scalper.
  • #3,193
  • Jul 15, 2009 7:35am Jul 15, 2009 7:35am
CW
Do you wait for the close of the candle, or does the trade determine you waiting for the close? Ive been waiting on closes and missing tons of trades lately. Its driving me nuts right now.
  • #3,194
  • Jul 15, 2009 8:10am Jul 15, 2009 8:10am
Quoting kodflakes
CW
Do you wait for the close of the candle, or does the trade determine you waiting for the close? Ive been waiting on closes and missing tons of trades lately. Its driving me nuts right now.

I can tell you this - the moment you "anticipate" a trade, it will kick you in the ass. I cannot tell you how many times that cost me money.

Patience. Missing a trade shouldn't drive you nuts, that's not a great mindset. There is always something to trade out there, if you let it come to you.
  • #3,195
  • Jul 15, 2009 8:31am Jul 15, 2009 8:31am
Is anybody looking at this chart? I have a weekly pivot at 9400 and a BUOBHC forming on the 4 hour. Am I way off base?

ole21
  • #3,196
  • Jul 15, 2009 8:40am Jul 15, 2009 8:40am
Quoting ole21
Is anybody looking at this chart? I have a weekly pivot at 9400 and a BUOBHC forming on the 4 hour. Am I way off base?

ole21
I have more of a "zone" between 94-95.
  • #3,197
  • Jul 15, 2009 8:54am Jul 15, 2009 8:54am
Quoting clockwork71
If I am going to do any British comedy type bands - it's gotta be one called Lawnmower Deth. And that's a great question - why do anarchists drink herbal tea? lol.

I remember when they were a bit tougher crowd myself.
Now CW, we could seriously fall out here... Lawnmower Deth are NOT a comedy band, it's serious stuff you know

What are joy division oven gloves anyway? I love the picture of the oven gloves with love and bake on them. I've met loads of guys with the prison tats saying love and hate. Love and bake is more my scene, as you can imagine being a girl.

Oh, and anarchists drink herbal tea because all proper tea is theft. lol
  • #3,198
  • Jul 15, 2009 8:59am Jul 15, 2009 8:59am
Quoting hel13rock
Now CW, we could seriously fall out here... Lawnmower Deth are NOT a comedy band, it's serious stuff you know

What are joy division oven gloves anyway? I love the picture of the oven gloves with love and bake on them. I've met loads of guys with the prison tats saying love and hate. Love and bake is more my scene, as you can imagine being a girl.

Oh, and anarchists drink herbal tea because all proper tea is theft. lol

I must admit - Lawnmower is dead serious stuff! Satan's Trampoline is my fav!

Of course, most Americans don't have the taste and culture it takes to listen to LD.....

So as usual, I am in the minority.

CW
  • #3,199
  • Jul 15, 2009 9:03am Jul 15, 2009 9:03am
Quoting clockwork71
I must admit - Lawnmower is dead serious stuff! Satan's Trampoline is my fav!

Of course, most Americans don't have the taste and culture it takes to listen to LD.....

So as usual, I am in the minority.

CW
Don't worry, that's why I love you (from a distance of course ). Completely turning around my trading results and having a sense of humour...
  • #3,200
  • Jul 15, 2009 9:04am Jul 15, 2009 9:04am
Well the reason its driving me nuts is becasue most of my entrie that Ive been waiting on are happening while Im at work or asleep.

Quoting clockwork71
I can tell you this - the moment you "anticipate" a trade, it will kick you in the ass. I cannot tell you how many times that cost me money.

Patience. Missing a trade shouldn't drive you nuts, that's not a great mindset. There is always something to trade out there, if you let it come to you.
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