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Silent Service Method

  • #4,501
  • Aug 10, 2009 1:40am Aug 10, 2009 1:40am
Quoting Low
Whitegoodman,

Excellent input as always, a question,

Didn't you take that eur/aud short several weeks back, and are you still in it?

It looks to be the gift that keeps on giving.
I took that pin bar trade 7/13 and I'm still in for well over 900 pips now. The real tale is that I took 250 pips in profits on 80% of my position when the market first stalled for a few days. It's still a really great trade but it's a funny torture to watch it where it is now. Quite a convincing lesson for me to leave the whole trade on in the future.

Wheelz
  • #4,502
  • Aug 10, 2009 1:51am Aug 10, 2009 1:51am
Quoting whitegoodman
no im not in it anymore. I took profit ....
you suck dude. Back to babypips for you. LOL.







(That's f**kin' awesome)
  • #4,503
  • Aug 10, 2009 2:08am Aug 10, 2009 2:08am
Quoting Low
you suck dude. Back to babypips for you. LOL.

(That's f**kin' awesome)
haha thanks dude, funnily enough I started here not babypips, I probably should have though in hindsight, the school is truly beginner friendly
Grabbing the bull by the horns!
  • #4,504
  • Aug 10, 2009 2:10am Aug 10, 2009 2:10am
Quoting 4xWheels
Quite a convincing lesson for me to leave the whole trade on in the future.
Another one of those lessons you can never truly learn from or understand until you experience it yourself, no matter how many times you read it.

Congrats, great minds think alike ha!
Grabbing the bull by the horns!
  • #4,505
  • Aug 10, 2009 4:11am Aug 10, 2009 4:11am
Quoting sumakianlee
hello every body ,,,,

thx
regard
suma
To answer your questions from that post, suma:

is this pinbar on 4 hour follow by pinbar on 8 hour ? >> Yes

pinbar on 8 hour is already break is that right ? >> Price is above it now, yes.

is it a good set up to go long ? or go short ? >> I'd wait til price moved from its present box with conviction before trading it.

or not good set up for adding position? >> It's about ready to make a move, so again, I'd just wait til it's clearer.

or this is i.e. pinbar in traffic ? >> Definitely.

[I attached my Daily and 3H chart for more perspective.]
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: AUDCAD box study.jpg Size: 104 KB
  • #4,506
  • Aug 10, 2009 7:48am Aug 10, 2009 7:48am
Had to have a go -

Shorted the GBP/USD pair. Going off to work today.....as long as it's under 1.7050, I will still be in it.

Chris
  • #4,507
  • Aug 10, 2009 7:56am Aug 10, 2009 7:56am
Quoting clockwork71
Had to have a go -

Shorted the GBP/USD pair. Going off to work today.....as long as it's under 1.7050, I will still be in it.

Chris
I moved mine to breakeven might be early
Attached Image (click to enlarge)
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  • #4,508
  • Aug 10, 2009 8:14am Aug 10, 2009 8:14am
Quoting kodflakes
I moved mine to breakeven might be early
not gonna give it room to move?

the signal is off the weekly, its gonna be a longer term trade, just my thinking neways

(though I know why, the support at 1.65)
Grabbing the bull by the horns!
  • #4,509
  • Aug 10, 2009 9:05am Aug 10, 2009 9:05am
Quoting Soca
To answer your questions from that post, suma:

is this pinbar on 4 hour follow by pinbar on 8 hour ? >> Yes

pinbar on 8 hour is already break is that right ? >> Price is above it now, yes.

is it a good set up to go long ? or go short ? >> I'd wait til price moved from its present box with conviction before trading it.

or not good set up for adding position? >> It's about ready to make a move, so again, I'd just wait til it's clearer.

or this is i.e. pinbar in traffic ? >> Definitely.

[I attached my Daily and 3H chart...
thanks again soca , your explanation help me so much

regard

suma
  • #4,510
  • Aug 10, 2009 9:33am Aug 10, 2009 9:33am
Quoting Low
Simon,

I've got an awkward solution, that may work if all else fails.

When you place a trade on Oanda, the order window calculates your SL in USD, as you change the "units" (lot size) of your trade. I love this feature because I locate my stop according to PA, and then adjust the lot size until the SL calculations matches my risk tolerance.

So.....if you were so inclined, you could use Oanda's demo platform and it's order entry window to do the math for you.

Just a thought.
Cheers low. I'll give Oanda a try.
  • #4,511
  • Aug 10, 2009 9:36am Aug 10, 2009 9:36am
Quoting whitegoodman
not gonna give it room to move?

the signal is off the weekly, its gonna be a longer term trade, just my thinking neways

(though I know why, the support at 1.65)
This formation on the weekly is because of NFP, NFP's can start new current trends but there is such a question about the greenback right now. Now if this is going to drop it will just go if it doesnt than I will get another chance, maybe. If you go back to the 2 other highlighted areas in the last post and look at them on the daily or less. You see that price just went like what it is doing now. If the pound acts like it did in the past it will go if it doesnt than I get stopped at break even. Im managing this one in a different way, than normal for me. This is the last time I will move my stop. I will look to take profit at 6100-6000, if it gets down there than I will take another look and decide if I need to move my stop or take profit.
  • #4,512
  • Aug 10, 2009 12:45pm Aug 10, 2009 12:45pm
there was a question about this pair..actually i would have shorted this pair if the setup bar (pinbar) wasnt that big ..in fact now i'm keeping an eye on this pair in case i get another signal on 4hr t.f to short this pair with smaller stop loss..all i can see is this looks good for short trades...
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  • #4,513
  • Aug 10, 2009 12:53pm Aug 10, 2009 12:53pm
Quoting AnimalHungry
Can anyone point me in the direction of a good position size calculator please? All suggestions much appreciated.
Cheers
Simon
Hi Simon.

I prog'd one myself and using it for quite a while now and it works fine for me.
Just download it at http://www.fxorg.org/DownloadMtVolumeCalculator.aspx

Stefan.
10 x 100 = 100 x 10, stefx, retired scalper.
  • #4,514
  • Aug 10, 2009 1:46pm Aug 10, 2009 1:46pm
Hi.

This trade is now open for 20 days and scratched the 600 pips mark for a while. It has been in consolidation for about 7 days but the 0.9 could be left behind and now on the way to 0.9250 until next trouble. If it closes to this level the stop will be trailed a little bit below 0.9. The second chart shows with the yellow arrows why my SL is where it is. I trailed the SL 3 times now on this trade and I am still in.

This thread learned me that the SL is not a fixed or dynamic value measured in a pip distance from the current price, it is simply a fixed level on the chart which is obvious to most or all.

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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Stefan.
10 x 100 = 100 x 10, stefx, retired scalper.
  • #4,515
  • Aug 10, 2009 2:41pm Aug 10, 2009 2:41pm
Quoting stefx
Hi.

This trade is now open for 20 days and scratched the 600 pips mark for a while. It has been in consolidation for about 7 days but the 0.9 could be left behind and now on the way to 0.9250 until next trouble. If it closes to this level the stop will be trailed a little bit below 0.9. The second chart shows with the yellow arrows why my SL is where it is. I trailed the SL 3 times now on this trade and I am still in.

This thread learned me that the SL is not a fixed or dynamic value measured in a pip distance from the current price, it is simply...
Damn fine trade Stefan.
  • #4,516
  • Aug 10, 2009 2:52pm Aug 10, 2009 2:52pm
Hi Guys and Gals,

I was out of trade for two weeks, so i missed this thread too...so many pages to catch up..

Hope you guys are doing very well. i just took Short on GU...lets see what happen next.

-happyTrading-
-happyTrading-myFx.
  • #4,517
  • Aug 10, 2009 3:35pm Aug 10, 2009 3:35pm
Quoting whitegoodman
Another one of those lessons you can never truly learn from or understand until you experience it yourself, no matter how many times you read it.

Congrats, great minds think alike ha!

Just like the lesson you get after your first triple-digit win. (in pips) Or your first 300 pip, 500 pip, or even more. It's funny how one trade can change you thinking forever.

Good job both of you. Even though you took 80% Wheelz, trust me - this certainly shows you are on your way. It really only takes a few of these trades every once in a while, and you are doing very,very well.

Chris
  • #4,518
  • Aug 10, 2009 4:27pm Aug 10, 2009 4:27pm
Quoting AnimalHungry
Can anyone point me in the direction of a good position size calculator please? I've tried www.forexcalc.com and http://www.earnforex.com/position_size_calculator.php but they give me different answers when I put in a GBPCHF trade.

All suggestions much appreciated.

Cheers
Simon
Hi

This link might be useful Plenty of other useful stuff as well

http://www.mataf.net/en/tools/risk-m...osition-sizing

Mike
  • #4,519
  • Aug 10, 2009 10:17pm Aug 10, 2009 10:17pm
To all my members, sorry I only got one video out tonight......it was HOT today, and I was working outside. (For you foreigners, it was something like 37 C and humid.)

Now I only have something like 35 more videos in the queue.
  • #4,520
  • Aug 10, 2009 10:22pm Aug 10, 2009 10:22pm
Quoting clockwork71
To all my members, sorry I only got one video out tonight......it was HOT today, and I was working outside. (For you foreigners, it was something like 37 C and humid.)

Now I only have something like 35 more videos in the queue.
I wouldnt worry dude, theres already like 2 hours plus worth of video already to go through
Grabbing the bull by the horns!
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