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Silent Service Method

  • #4,361
  • Aug 5, 2009 5:57am Aug 5, 2009 5:57am
Quoting eswap0
I don't move to BE in "automatic mode"
If I would have done so, I would have been stopped out tonight: see attached chart, I entered @5415, the yellow line.
Initially my SL was @5345, now it is @5389 (red line), behind what seems to be a minor PPZZ and out of the up TL.
I prefer to lose some pips instead of beeing stopped that often.
Good luck.
Hi there,

Just getting a feel for what your trade plan might be, is all. I like to see what others are doing, if it may add something valuable to my trading or insight. I wasn't telling you to move your stop in any way whatsoever. Hope you understand and thanks for sharing.

Soca

(Trying to visualize what a beach even looks like right now, so I'm glad you're out there enjoying yourself, wherever that is - Spain?)
  • #4,362
  • Aug 5, 2009 5:59am Aug 5, 2009 5:59am
Quoting nomask
update on my gbpchf..because of so many shorts of you guys entered on this pair..its having really hard time to move higher
if it breaks down that pinbar i'll be following you..
So far you are the winner
Regards
  • #4,363
  • Aug 5, 2009 6:00am Aug 5, 2009 6:00am
Quoting eswap0
I don't move to BE in "automatic mode"
If I would have done so, I would have been stopped out tonight: see attached chart, I entered @5415, the yellow line.
Initially my SL was @5345, now it is @5389 (red line), behind what seems to be a minor PPZZ and out of the up TL.
I prefer to lose some pips instead of beeing stopped that often.
Good luck.
watch out 1.5500 level though
  • #4,364
  • Aug 5, 2009 6:04am Aug 5, 2009 6:04am
Quoting Soca
There's been an ascending triangle pattern forming on my 3H GBP/CHF chart. (B-t-w an "ascending triangle" is an uptrend continuation pattern or indicator.) Noticed it before but got distracted or something, so I didn't post a timely alert - pardon me.

With the news announcements an-hour-ago price had upward conviction. So I'll be observing how it plays out into the New York Session, what with the ADP announcement, later on.
The only setback which I see is divergence on daily and 4hr
Regards
  • #4,365
  • Aug 5, 2009 6:16am Aug 5, 2009 6:16am
Quoting howard
So far you are the winner
actually i was expecting a bigger move after hunting stops and coming more buy orders into play..but i'm okay with it for now..
  • #4,366
  • Aug 5, 2009 6:39am Aug 5, 2009 6:39am
an update on my OMI short... I got in off the break of $45, then a nasty bullish bar off a minor zone forced me to get out at breakeven.

In hindsight it might have been better to place my take profit at 1:1 RR as technically it was a counter trend trade, which would have been hit for profit.

I'll scour the charts tonight for more potential stock trades, but am tempted to wait for NFP Friday so we can get a clearer direction of where the market is going
Attached Image (click to enlarge)
Click to Enlarge Name: OMI_update.png Size: 66 KB
Grabbing the bull by the horns!
  • #4,367
  • Aug 5, 2009 6:41am Aug 5, 2009 6:41am
Quoting nomask
to me,timeframes that are lower than daily need extra caution and a lot of work..I'd suggest not to bother thinking about them..pull up a daily and trade what you see..
--------
update on gbpchf:canceled the sell order due to break of yesterday's pinbar and holding my old position (long)..stop at the same level..below pinbar..
eurgbp:about to cancel this buy order too if pinbar gets violated.
Hi nomask,

Thanks for your suggestion to what charts I not bother thinking about, namely any TF less than a Daily. I also know that it's okay how I am trading right now, so in the meantime, I'll enjoy your method and posts. Perhaps I'll learn something that could inspire me to discard my current method, which I haven't really explained or outlined in fact. So that perhaps in time it will become more evident...

I'm using the 3H as an intermediary or bridge at moment from the 1H chart world that I prefer to yours, in the Daily and above - to trade. Thus I'm learning to make the Silent Service Method my own, which I believe we're all doing for ourselves and that to me is what makes this so interesting! And if there's anything I can do to clarify how I communicate my ideas, insight or understanding - please let me know.

(Perhaps in just this session some of what I shared could be a heads-up to y'all out there in the higher TFs to what's shaping-up down here in the lower TF world, with more granularity, e.g..)

Thanks again!
  • #4,368
  • Aug 5, 2009 6:47am Aug 5, 2009 6:47am
I also have to agree with nomask. Generally speaking my success rate on daily's would be around 70-75% while on 4hrs its about 50/50... of course this is based upon trades where in hindsight they wouldnt have been made, but as suggested previously (probably by a few people) its better to master daily's before moving to 4hrs...

and if daily's is too slow, just increase the numbers of charts/instruments you are looking at...

"5 minute bar type action on a daily timefame ha"
Grabbing the bull by the horns!
  • #4,369
  • Edited 8:17am Aug 5, 2009 6:56am | Edited 8:17am
Quoting whitegoodman
I also have to agree with nomask. Generally speaking my success rate on daily's would be around 70-75% while on 4hrs its about 50/50... of course this is based upon trades where in hindsight they wouldnt have been made, but as suggested previously (probably by a few people) its better to master daily's before moving to 4hrs...

and if daily's is too slow, just increase the numbers of charts/instruments you are looking at...

"5 minute bar type action on a daily timefame ha"
whitegoodman,

Thanks for your feedback. I actually have and do plot on the Daily as a primer to working my way down to the lower TFs; so that's something that's stuck with me as a practice/ritual from this and my previous training. And you're right on with increasing the number of instruments/charts I look at if the Daily's are too slow, which happens to be the part where I disconnect for some reason, though I wonder if it's just a matter of practice to preference at-this-time. I believe it's worth experimenting with for myself.

And like I said previously, I came from trading three Yen pairs and doing well to tracking 20+ just on the Forex. So y'all are keeping me on my toes for sure and that's a significant reason why I decided to start posting!

Cheers,
Soca
  • #4,370
  • Aug 5, 2009 7:07am Aug 5, 2009 7:07am
Quoting Soca
I like to see what others are doing, if it may add something valuable to my trading or insight.
Yes, me too. That's why I use to post my trades: It also helps to make rational decisions, as far as you need to write them down.

Quoting Soca
I wasn't telling you to move your stop in any way whatsoever. Hope you understand and thanks for sharing.
Yes, I understood it at first sight. Sorry, sometimes my English is not sweet enough adn my comments look al little bit rude.

Quoting Soca
(Trying to visualize what a beach even looks like right now, so I'm glad you're out there enjoying yourself, wherever that is - Spain?)
Yes! Spain
Trading: the skill of avoiding trades
  • #4,371
  • Aug 5, 2009 7:09am Aug 5, 2009 7:09am
Quoting nomask
watch out 1.5500 level though
You are right!
Watching it carefully, but still sticking to my plan.
Thanks!
Trading: the skill of avoiding trades
  • #4,372
  • Aug 5, 2009 7:11am Aug 5, 2009 7:11am
Quoting whitegoodman
I also have to agree with nomask. Generally speaking my success rate on daily's would be around 70-75% while on 4hrs its about 50/50... of course this is based upon trades where in hindsight they wouldnt have been made, but as suggested previously (probably by a few people) its better to master daily's before moving to 4hrs...

and if daily's is too slow, just increase the numbers of charts/instruments you are looking at...

"5 minute bar type action on a daily timefame ha"
+1
besides i'm not saying daily is the only tf to trade..I wish i was a better trader on lower timeframes as well..But i'm not..don't trust me on this but you can trush on what j16's idea is that to start on larger timeframes if you want to master on any system...I'd make a lot of money if i was able to get in a trade based on 1hr and take out my profit on daily..Its just not that easy..
to increase your win rate you need less noise
to increase your r/r you need to keep your trade as long as possible
so my formula is less trade more stay
good luck all
  • #4,373
  • Aug 5, 2009 8:07am Aug 5, 2009 8:07am
Quoting howard
So far you are the winner

Yes he was so far. I think it's going to stall a bit more around here. I actually got stopped out. I could have taken profit a few times, but it didn't get to where I wanted to see it.

So it looks like I have a video to do. Will probably post it on the blog tonight. Some of the best videos are the ones where something "went wrong". Most of the time there is more to be learned form that......

Chris
  • #4,374
  • Aug 5, 2009 8:10am Aug 5, 2009 8:10am
Quoting clockwork71
Some of the best videos are the ones where something "went wrong". Most of the time there is more to be learned form that......
yeh itll help psychologically, knowing that it wont always going right going into a trade...
Grabbing the bull by the horns!
  • #4,375
  • Aug 5, 2009 8:22am Aug 5, 2009 8:22am
Quoting whitegoodman
yeh itll help psychologically, knowing that it wont always going right going into a trade...

I know. There are some people that claim not to have a losing trade for ridiculous figures like 10 months at a time. They are either A) lying or B) not trading.

Hypothetical trading doesn't help anyone. I will do this video tonight, and have it posted late.

Chris
  • #4,376
  • Aug 5, 2009 8:58am Aug 5, 2009 8:58am
Ive been having problems lately with actually checking for the PA to form a pattern so Ive been going to the 1h and drawing my SR zones and then going to the 15m to look for trades, as a way of practicing Silent Service.

Take a look at this:
Here is the 1hr base chart I have been using. Now I only have lines drawn that are needed for the time being. Because of the slow movement this week I thought I would try this out. Ive got too much time on my hands right now work is slow for us.

Now this is the 15 m
We have been in this channel for way too long but the opportunity presented it self at the arrow we get an inverted hammer closing at 4424. I put a stop at the upper zone plus a few pips at 4454.
So the TP is at the bottom zone at 4366. There is 30 pip stop and 60 pip TP good ratio.
Now my reasons behind all this
I have a problem letting trades run I have to condition my self to give trades room to go. If I can let these work to say 150+ pips then letting the longer term go to 300+ should be the same. Now I dont know if anyone else has the same problems and Ive just started doing this but I think it will help.
Attached Image (click to enlarge)
Click to Enlarge Name: ss.png Size: 49 KB
  • #4,377
  • Aug 5, 2009 8:59am Aug 5, 2009 8:59am
here is the 15m
Attached Image (click to enlarge)
Click to Enlarge Name: ss.png Size: 43 KB
  • #4,378
  • Aug 5, 2009 9:11am Aug 5, 2009 9:11am
Apparently, I lost my subscription to this thread as it was moved to this Commercial Forum (beta). I must have missed a lot of posts but has this turned into a commercial thingee? Hmmm...

Anyways, subscribing again.

  • #4,379
  • Aug 5, 2009 9:19am Aug 5, 2009 9:19am
Quoting rsbgm
Apparently, I lost my subscription to this thread as it was moved to this Commercial Forum (beta). I must have missed a lot of posts but has this turned into a commercial thingee? Hmmm...

Anyways, subscribing again.

the thread has not but yes Cw started his mentoring or service whatever you call it which i believe would be totally worthy..
  • #4,380
  • Aug 5, 2009 9:23am Aug 5, 2009 9:23am
Quoting whitegoodman

and if daily's is too slow, just increase the numbers of charts/instruments you are looking at...
Or use forextester and skip thru a year of data in an evening.
Personally my success is better on 4hour than daily.
I dont understand that at all...
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