Silent Service Method | Page 187 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Silent room 2 replies

Silent Success of Patience 10 replies

My silent journal 4 replies

bo7a method... method for GBP/JPY 205 replies

Seeing Through the Silent Crash 4 replies

Attachments: Silent Service Method
Exit Attachments

Silent Service Method

  • #3,721
  • Jul 23, 2009 8:06am Jul 23, 2009 8:06am
Quoting dozzz71
hey no one is talking about cad/jpy, i said last time its to form head and shoulder on the daily chart, can anyone comment on this pair.


Please post a chart if you would.....IB's charting is horrible, and my MT4 brokers doesn't have CAD.JPY
  • #3,722
  • Jul 23, 2009 8:09am Jul 23, 2009 8:09am
its nice to wakeup and see profits . Thanks for your thread Chris and your brilliant strategy to focus on multiple markets.

Do you trade toronto stocks?
  • #3,723
  • Jul 23, 2009 8:16am Jul 23, 2009 8:16am
Quoting clockwork71
Please post a chart if you would.....IB's charting is horrible, and my MT4 brokers doesn't have CAD.JPY
Hope Dozzz71 doesnt mind. Posted a chart for him and you.
Good weekly s/r, but I dont like the 4hr PA yet.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cadjpy.gif Size: 27 KB
Click to Enlarge Name: cadjpy_4hr.gif Size: 29 KB
If it's too good to be true, it probably is.
  • #3,724
  • Jul 23, 2009 8:22am Jul 23, 2009 8:22am
Hey White,

Finally im going to focus on a long stock today. Its more like a quick scalping trading. But if it breaks the resistance and holds , I will hold on to it longer.

i like the increase in the volume, gap few days ago and shape of the bar. It all seems very bullish to me.
Attached Image (click to enlarge)
Click to Enlarge Name: igt.PNG Size: 71 KB
  • #3,725
  • Jul 23, 2009 8:31am Jul 23, 2009 8:31am
Quoting cheelu
Hey White,

Finally im going to focus on a long stock today. Its more like a quick scalping trading. But if it breaks the resistance and holds , I will hold on to it longer.

i like the increase in the volume, gap few days ago and shape of the bar. It all seems very bullish to me.
hmmm personally I wouldnt take it.

Few reasons:

-As you say its close to some resistance...
-The prior two bars form a tweezer top
-prior 2 bars form a 2 day pin
- last bar has a strong BUOB feel to it.
- the most recent pin wasnt at enough of a swing low...

easy pass for me but I may and probably am wrong
Grabbing the bull by the horns!
  • #3,726
  • Jul 23, 2009 8:35am Jul 23, 2009 8:35am
Quoting cheelu
its nice to wakeup and see profits . Thanks for your thread Chris and your brilliant strategy to focus on multiple markets.

Do you trade toronto stocks?
fear... ib will lose it's world#2 financial status by you guys robbing it in every way...
  • #3,727
  • Jul 23, 2009 8:42am Jul 23, 2009 8:42am
bad luck cheelu it gapped too hard
Grabbing the bull by the horns!
  • #3,728
  • Jul 23, 2009 8:45am Jul 23, 2009 8:45am
Quoting TiaForex
I'm throwing out questions like there's no tomorrow at the moment...

For all you guys; have you found a good website with educational videos for learning about futures? www.learningmarkets.com is superb for stocks and options but is there an equivalent for futures? I've got some good "for dummies" books that I am ploughing through but I really like videos.

Any suggestions would be appreciated.
I think the futures market is similar to any other market as far as PA is concerned. I am demoing the minis right now and have been doing very well. All you need to do is understand the tick/or point value for each mini. For example, for the S&P emini, the smallest movement, 1 tick = $12.50, and 4 ticks make 1 point = $50. For the mini Dow, 1 point = $5. For the russell minis , 1 tick = $10 (minimum movement = 0.1 ticks) and 1 point = $100. As you can see, the point values are very large and can result large profits/losses. If you just wait for very good PA at strong S/R, you just need 2-4 points. These markets are very fast and volatile. For instance, a i point stop loss on the emini s&p, I personally have found to be too close. So you need to demo to find your comfort level.

The overnight margins for these are huge. So, I only day trade. I know there are some brokers out there that charge as much as $7 per round trip (RT) to as low as $4.60/RT. So shop around because these expenses will kill you. This is a business and hence controlling expense is key. But I would say, demo go get a feel of the market. I hope this helps.


kulu
  • #3,729
  • Jul 23, 2009 8:47am Jul 23, 2009 8:47am
Quoting whitegoodman
bad luck cheelu it gapped too hard
Yeah, quite a nice gap up. The only solution I can think of when trading good pinbars with stocks is to enter right near the close... which would mean running a scan in the last 20 minutes (assuming you have a scan with realtime data... IB has this, but not for specific formations)...then selecting a good setup and entering... somewhat risky to enter on the close of a bar and then hold it overnight, not knowing which way a gap will occur... might be worth some research though if we see enough 10% gaps like this one.

Still running higher now... Sorry no chart... got IB opened on a different computer.

Josh
  • #3,730
  • Jul 23, 2009 8:49am Jul 23, 2009 8:49am
Quoting kulu
I think the futures market is similar to any other market as far as PA is concerned. I am demoing the minis right now and have been doing very well. All you need to do is understand the tick/or point value for each mini. For example, for the S&P emini, the smallest movement, 1 tick = $12.50, and 4 ticks make 1 point = $50. For the mini Dow, 1 point = $5. For the russell minis , 1 tick = $10 (minimum movement = 0.1 ticks) and 1 point = $100. As you can see, the point values are very large and can result large profits/losses. If you just wait for...
I agree with my friend Kulu here - it's the same, just that the margins and tick values have to be taken into account.

Chris
  • #3,731
  • Jul 23, 2009 8:50am Jul 23, 2009 8:50am
Quoting whitegoodman
god I hate IB charting haha...
Yesterday I've tried it the first time and I'm sure this piece of software and me wouldn't become friends.

stefx.
10 x 100 = 100 x 10, stefx, retired scalper.
  • #3,732
  • Jul 23, 2009 8:50am Jul 23, 2009 8:50am
Quoting SimonK
Hope Dozzz71 doesnt mind. Posted a chart for him and you.
Good weekly s/r, but I dont like the 4hr PA yet.

Yeah, I don't like the action yet either to be honest.
  • #3,733
  • Jul 23, 2009 8:50am Jul 23, 2009 8:50am
not huge, 3% a year annualized swap. long terms don't over leverage so it's okey.

Quoting kulu

The overnight margins for these are huge. So, I only day trade. I know there are some brokers out there that charge as much as $7 per round trip (RT) to as low as $4.60/RT. So shop around because these expenses will kill you. This is a business and hence controlling expense is key. But I would say, demo go get a feel of the market. I hope this helps.


kulu
  • #3,734
  • Jul 23, 2009 8:50am Jul 23, 2009 8:50am
Quoting Jduester
Yeah, quite a nice gap up. The only solution I can think of when trading good pinbars with stocks is to enter right near the close... which would mean running a scan in the last 20 minutes (assuming you have a scan with realtime data... IB has this, but not for specific formations)...then selecting a good setup and entering... somewhat risky to enter on the close of a bar and then hold it overnight, not knowing which way a gap will occur... might be worth some research though if we see enough 10% gaps like this one.

Still running higher now......
the only problem with this that I see is that I like to take breaks of pin bars as confirmation, similar to how we play it in forex. Gaps is an issue in stocks that you just have to work around, unless you day trade
Grabbing the bull by the horns!
  • #3,735
  • Jul 23, 2009 8:52am Jul 23, 2009 8:52am
Quoting cheelu
its nice to wakeup and see profits . Thanks for your thread Chris and your brilliant strategy to focus on multiple markets.

Do you trade toronto stocks?

No I don't, but I was thinking about adding TSE as well. I like the idea of it as there are so many commodity companies......
  • #3,736
  • Jul 23, 2009 8:52am Jul 23, 2009 8:52am
Quoting billye
fear... ib will lose it's world#2 financial status by you guys robbing it in every way...

IB is an ECN, they have no interest in seeing us lose money. All they do is give me a direct portal to markets. Nothing more, nothing less.
  • #3,737
  • Edited 10:08am Jul 23, 2009 9:37am | Edited 10:08am
Thanks for the replies guys. Just to clarify Saepe, I've been trading spot forex for a while and am pretty comfortable with it. Been following this thread since the start too... but thanks for the welcome and help nonetheless My questions were more regarding the differences with futures specifically, contract expiration, overnight margin requirements, tick values, front months etc. I've got a clearer idea on it all now so thanks everyone.
  • #3,738
  • Jul 23, 2009 10:16am Jul 23, 2009 10:16am
Quoting clockwork71
Please post a chart if you would.....IB's charting is horrible, and my MT4 brokers doesn't have CAD.JPY
i know most you dont cadjpy on your platform, but it huge blow today that cad flew up like kite hitting over 160 pips in 2hours i dont know what happened if it news or what
  • #3,739
  • Jul 23, 2009 10:42am Jul 23, 2009 10:42am
Quoting james16
FF gets nothing from me white. never has.

guys all of you are thinking like FF is some family operation.

Its a corporation that has rules to keep this place manageable and conduscive to new people to forex and as a result allow for a good advertising income. this is a business not a fairness test. if you have shown yourself over time to be an asset to this place and a draw with proven integrity then you get some slack but it doesnt happen overnight.

like sto said... chris made a mistake but im sure it will be resolved and this thread will...
James, I disagree.

You started this thread a long time ago and have built up a valuable vault of knowledge. I consider this thread famous and is partly responsible for me still being active in FX.

My point is Forex Factory do indirectly get paid by you. You have generated such a great thread that you have undoubtedly increased their footfall figures which drive their advertising prices. Without you and your thread i'm sure they would earn much less. Add to this the contributions provided by traders originally attracted by your thread and KABOOM, domino effect. So I think FF do get a lot from you, they should respect what you have done for them, as we should all respect what they are doing for us by providing this agora.

Also, this is your thread and as others have already mentioned it was not setup for commercial purposes, nor do you push the PF on anyone. There is enough info on here for anybody with the commitment and desire to succeed.

Nick
The customer is always right!
  • #3,740
  • Jul 23, 2009 11:09am Jul 23, 2009 11:09am
Well, I lost 1% on my EUR/JPY short. When I get home I'll take a look, but every trade I lose seems to bounce off minor resistance right to my stop.

I am thinking about moving to BE once minor resistance is tested, considering most of my trades are profitable almost immediately, only to struggle at these levels (4 hr minor resistance, I trade dailies).

Any thoughts CW?? Do you mind shedding a little light on this most recent trade maybe? My sell was triggered on break of pseudo pin bar on 7/21....

thanks, as always...
1 trader viewing now