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Silent Service Method

  • #4,021
  • Jul 28, 2009 10:39pm Jul 28, 2009 10:39pm
everybody's got mail.
  • #4,022
  • Jul 28, 2009 10:45pm Jul 28, 2009 10:45pm
Here's my fictional stock trades, both shorts:

http://i30.tinypic.com/wv3mnr.png

http://i25.tinypic.com/31323yf.png
  • #4,023
  • Jul 29, 2009 12:05am Jul 29, 2009 12:05am
Quoting Low
Anybody got any thoughts on the USDCAD?

I've got a doji, at a fantastic location, but I would've rather seen a pin bar. It's not exactly convincing, but the entry price right now would be around 70 pips.

I don't really know, I could easily reduce position size and just "try it on".

Maybe it works, maybe it doesn't, but if it works, I could add to the position later.

Hey LOW

Been watching the USD/CAD myself. What timeframe do you see the doji. On the Weekly charts the price is at a good historical S/R. Maybe on the way back up do you think? S&R Looks even better on the daily.

Please don't place any weight on my analysis I'm new at this and just trying to understand.
Attached Image (click to enlarge)
Click to Enlarge Name: USD-CAD.jpg Size: 157 KB
  • #4,024
  • Edited 2:17am Jul 29, 2009 12:26am | Edited 2:17am
Quoting Low
everybody's got mail.
Thanks Low for throwing in the other books with the Encyclopedia. I've actually read them and was personally mentored by Dirk himself, back when I began trading Forex for real. Excellent resources, nonetheless!

In return for your sending me that, I'd posted something here, referring to a free psychological test put out by Van Tharp that unfortunately looked suspicious enough on here - I scrubbed it. In the meantime perhaps I'll think of something more neutral to send or post. Otherwise I can hardly wait to dig into that Encyclopedia!
  • #4,025
  • Jul 29, 2009 1:54am Jul 29, 2009 1:54am
Quoting Area51
What timeframe do you see the doji. On the Weekly charts the price is at a good historical S/R. Maybe on the way back up do you think? S&R Looks even better on the daily.
Here's the cad chart, it's a daily. It's probably only different because of the broker feed. I went long at 108.39.

http://i32.tinypic.com/20frok5.png
  • #4,026
  • Jul 29, 2009 2:17am Jul 29, 2009 2:17am
Quoting Low
Here's the cad chart, it's a daily. It's probably only different because of the broker feed. I went long at 108.39.

http://i32.tinypic.com/20frok5.png

Hey LOW

I think it looks like a winner.
  • #4,027
  • Jul 29, 2009 2:28am Jul 29, 2009 2:28am
USDCAD trade, reasons and thoughts...
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.png Size: 69 KB
Grabbing the bull by the horns!
  • #4,028
  • Jul 29, 2009 2:33am Jul 29, 2009 2:33am
Nice trade White!
I missed a lovely 4 hour pin on my feed on that yesterday so i'll let it go...

Shorting Audusd instead.
Is anyone else on this daily pin?
Its looks great
Attached Image (click to enlarge)
Click to Enlarge Name: audusd_daily_pin_29_07_09.JPG Size: 81 KB
  • #4,029
  • Jul 29, 2009 2:47am Jul 29, 2009 2:47am
Quoting jicjoc
Nice trade White!
I missed a lovely 4 hour pin on my feed on that yesterday so i'll let it go...

Shorting Audusd instead.
Is anyone else on this daily pin?
Its looks great
it looks very good to me aswell, i have 0.8300 marked on my chart. Nice daily pin off a zone and swing high, with 'space' to the left, also the pins closes within the prior bar.

Though according to my trading rules I cant open any more trades until I have less than 2% of account at risk... plus im already palying USD strength with USDCAD.

good luck dude it looks the goods
Grabbing the bull by the horns!
  • #4,030
  • Jul 29, 2009 2:54am Jul 29, 2009 2:54am
Quoting jicjoc
Nice trade White!
I missed a lovely 4 hour pin on my feed on that yesterday so i'll let it go...

Shorting Audusd instead.
Is anyone else on this daily pin?
Its looks great
I have 0.82 on my chart and I think it could be retesting that before it goes higher.

Sorry to put a damp cloth on the barbecue.
  • #4,031
  • Jul 29, 2009 3:17am Jul 29, 2009 3:17am
My stock trade for tonight on my IB account.

Thoughts and reasons provided.
Attached Image (click to enlarge)
Click to Enlarge Name: OMI.png Size: 102 KB
Grabbing the bull by the horns!
  • #4,032
  • Jul 29, 2009 4:18am Jul 29, 2009 4:18am
Quoting whitegoodman
My stock trade for tonight on my IB account.

Thoughts and reasons provided.

Very nice looking chart this one.
  • #4,033
  • Jul 29, 2009 4:29am Jul 29, 2009 4:29am
I've been looking into IB as a broker. They do seem to offer an impressive service.

What is the charting like? I like metatrader as the chart stays on your screen and when you open and close the program the charts stay as they were. A lot of the java based charting programs are absolute rubbish. Do you have to save your charts and open them up when you want them again or what?
  • #4,034
  • Jul 29, 2009 4:34am Jul 29, 2009 4:34am
Quoting hel13rock
I've been looking into IB as a broker. They do seem to offer an impressive service.

What is the charting like? I like metatrader as the chart stays on your screen and when you open and close the program the charts stay as they were. A lot of the java based charting programs are absolute rubbish. Do you have to save your charts and open them up when you want them again or what?
yeh you would be correct, IB charting is the worst ive ever seen....

some are using stockcharts, I use prorealtime, you can also use the data from IB and feed it into ninjatrader for free...

but yeh IB as a broker is great, not as a chart provider tho
Grabbing the bull by the horns!
  • #4,035
  • Jul 29, 2009 4:37am Jul 29, 2009 4:37am
Seems a little messy but I suppose you get used to it? It's odd that more brokers don't adopt metatrader, it's definitely the best charting/trading package that I've come across.
  • #4,036
  • Edited 4:50pm Jul 29, 2009 4:39am | Edited 4:50pm
I opened my USD/CAD chart, drew higher TF fibs, located the surrounding S/R and observed. And I agree with some others that the CAD is at an interesting location to the USD but indecisive...

On my chart price is currently just below a 23.6% fib (at 1.0950) drawn from a-year-ago that's also part of a "mini-zone," which whitegoodman noted. So it would have to clear that area with conviction before I'd consider going long.

Then, I highlighted a major zone at 1.08 w/a blue, thick line to signify what area price would have to clear with conviction before I'd consider going short.

With all this and more I'm seeking to answer a formula from CW on post #3861, in a way that's obvious, for starts:

Why am I entering this trade?

Where is it an invalid set up? (i.e. when does it not make sense anymore?)

At what price will I move my stops to break even?

What is my target? (A fixed price? Is it with the trend, allowing me to trail?)
Attached Image (click to enlarge)
Click to Enlarge Name: USD:CAD Daily.jpg Size: 106 KB
  • #4,037
  • Jul 29, 2009 5:38am Jul 29, 2009 5:38am
Why does Stella Artois and Deep Purple go so well together? (this is definitely off topic )

We've had a great american sports discussion but is it true what I hear about american beer? Weak like p**s?

The australians know a thing or two about beer, VB and West end draught are my favourite beers of all time!

Ok, so I have learnt now, if you're drinking don't trade so I can't add anything pertinent about the charts, sorry
  • #4,038
  • Jul 29, 2009 5:46am Jul 29, 2009 5:46am
Quoting hel13rock
Why does Stella Artois and Deep Purple go so well together? (this is definitely off topic )

We've had a great american sports discussion but is it true what I hear about american beer? Weak like p**s?

The australians know a thing or two about beer, VB and West end draught are my favourite beers of all time!

Ok, so I have learnt now, if you're drinking don't trade so I can't add anything pertinent about the charts, sorry
VB is a peasant beer in Australia

Hahn Super Dry's for the win!

also for you Yanks, no-one in Australia drinks Fosters, literally no-one
Grabbing the bull by the horns!
  • #4,039
  • Jul 29, 2009 5:49am Jul 29, 2009 5:49am
Quoting whitegoodman
USDCAD trade, reasons and thoughts...
I am trying not to OVER-ANALYSIS this pair....we are a major S/R at the 1.0800....all i am waiting for is good PA......bais is to the upside....obviously do your own analysis....i will be hoping to target the minor resistance at 1.1200 if i go long.

Nice trade whitegoodman
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 21 KB
  • #4,040
  • Jul 29, 2009 5:55am Jul 29, 2009 5:55am
Quoting whitegoodman
VB is a peasant beer in Australia

Hahn Super Dry's for the win!

also for you Yanks, no-one in Australia drinks Fosters, literally no-one
Whitegoodman, I couldn't resist this one.

The beer for FOREX traders? Of course XXXX

See the image for those who don't get it!

Now back to the trading
Attached Image (click to enlarge)
Click to Enlarge Name: XXXX 1.jpg Size: 81 KB
Attached Image
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