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Silent Service Method

  • #4,521
  • Aug 11, 2009 12:01am Aug 11, 2009 12:01am
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.
You're right it was hot days not only today. I'm from Asia originally but live in US (State of Illinois and Wisconsin) around 8 years, if it more than 75 F and humid ohhhh you can think just about A/C Thank you Cris for really good thread i learned a lot from here. Hope tomorrow we'll be cooler than today.
  • #4,522
  • Aug 11, 2009 4:43am Aug 11, 2009 4:43am
Hi all, pretty quiet over here.

Anybody trading anything good? I've got a GbpUsd short order pending but waiting to see if it's going to carry on down today.
  • #4,523
  • Aug 11, 2009 4:57am Aug 11, 2009 4:57am
My sell limit was trig'd during the night and was in plus today morning. Don't know where it's now.

Stefan.
10 x 100 = 100 x 10, stefx, retired scalper.
  • #4,524
  • Aug 11, 2009 4:58am Aug 11, 2009 4:58am
Quoting hel13rock
Hi all, pretty quiet over here.

Anybody trading anything good? I've got a GbpUsd short order pending but waiting to see if it's going to carry on down today.

Still short the GBP/USD from 1.6623.....that's about it at the moment for me.

Chris
  • #4,525
  • Aug 11, 2009 5:00am Aug 11, 2009 5:00am
I'm watching it now on the 15 min and it looks as though it's going to break downwards. Hopefuly with a bit of momentum.

The 4 hour would suggest the next move to be down too.
  • #4,526
  • Aug 11, 2009 5:02am Aug 11, 2009 5:02am
Found support at 1.6430 again, when that breaks it should be good.
  • #4,527
  • Aug 11, 2009 5:14am Aug 11, 2009 5:14am
Hi Guys, in between these, quiet trading hours, just want to throw something out there for a bit of feedback...

I have been trading myself now for maybe 4 straight years, this year through, the obvious trial and error and joining the James 16 Forum, and following the likes of Chris's teachings, (also Trader Dante, over at trade2win) i feel i am finally getting it, though, it is at these times of waiting for that perfect set up, which are the hardest. A few posts back i noticed Whitegoodman talking about the Eur/Aud Pin trade, I didnt recall this trade so looked it up;

1.Perfect Daily Pin 2.PPZ 3.Fib Level 4.Round Number

So i have to put it out, is this the 'Perfect Set up' 'AN A+SETUP'..?! This trade is still running, some 900 pips, so, is this all we have to do, is WAIT, for this set up, to present itself again and again. Can we really just make it month after month with this ONE PRICE ACTION CANDLE - A PIN BAR, in conjunction with the other 3 instances ...???
  • #4,528
  • Aug 11, 2009 5:21am Aug 11, 2009 5:21am
Quoting hel13rock
I'm watching it now on the 15 min and it looks as though it's going to break downwards. Hopefuly with a bit of momentum.

The 4 hour would suggest the next move to be down too.
Am also short this pair, looks to break to the downside of a trend continuation pattern off the 4-hr and i like the Resistance it is find off the 1.6500......just worried alittle bit about the Daily, which shows the trend is up.....lets wait and see.........see chart below............green circle on D shows uptrend and red circle on 1-hr shows down trend.......

Cheers guys/galz
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd (4-hr).gif Size: 22 KB
  • #4,529
  • Aug 11, 2009 5:27am Aug 11, 2009 5:27am
Quoting Danku
Am also short this pair, looks to break to the downside of a trend continuation pattern off the 4-hr and i like the Resistance it is find off the 1.6500......just worried alittle bit about the Daily, which shows the trend is up.....lets wait and see.........see chart below............green circle on D shows uptrend and red circle on 1-hr shows down trend.......

Cheers guys/galz
You know Hector too then? He's a good guy. (or did you just pinch his indicator? )

That indicator does take a little while to change sometimes, if you look at the daily the uptrend is definitely in trouble. It could still carry on but it's a 50/50 call now.
  • #4,530
  • Aug 11, 2009 5:28am Aug 11, 2009 5:28am
Quoting eltrader
So i have to put it out, is this the 'Perfect Set up' 'AN A+SETUP'..?! This trade is still running, some 900 pips, so, is this all we have to do, is WAIT, for this set up, to present itself again and again. Can we really just make it month after month with this ONE PRICE ACTION CANDLE - A PIN BAR, in conjunction with the other 3 instances ...???
Pretty much. There are other candle/bar formations that will give you a clear entry signal but that's how easy it is if you have the patience.
  • #4,531
  • Aug 11, 2009 5:39am Aug 11, 2009 5:39am
Quoting eltrader
Hi Guys, in between these, quiet trading hours, just want to throw something out there for a bit of feedback...

I have been trading myself now for maybe 4 straight years, this year through, the obvious trial and error and joining the James 16 Forum, and following the likes of Chris's teachings, (also Trader Dante, over at trade2win) i feel i am finally getting it, though, it is at these times of waiting for that perfect set up, which are the hardest. A few posts back i noticed Whitegoodman talking about the Eur/Aud Pin trade, I didnt recall this...
Hi eltrader,

I am kinder a newbie here so i try not to mess things too much as everythng is on this thread which has really changed my trading for the better.....i combine this method with another and these are my view on this short.....from my point of view it is A++ setup and i made some 225pips on it.....

Please see chart below....

We have the PB of a Reistance Zone.....trend is down as my 3 MAs show....and i like the size of that PB.....and basically that is it.....i neva try to complecate matters as i have learnt the hard way........trading PBs off S/R Zones on the Daily can be very profitable...so for me when the see those PBs off the Zones......i draw the FIBs and you can seee that the 61.8% and 1.8200 make a perfect Resistance Zone............

I will now let the professionals comment and hopefully i can also learn from them...cheers
Attached Image (click to enlarge)
Click to Enlarge Name: euraud (daily).gif Size: 24 KB
  • #4,532
  • Aug 11, 2009 5:45am Aug 11, 2009 5:45am
Quoting hel13rock
You know Hector too then? He's a good guy. (or did you just pinch his indicator? )

That indicator does take a little while to change sometimes, if you look at the daily the uptrend is definitely in trouble. It could still carry on but it's a 50/50 call now.

Yah, i use his method too...Trend Trading...n for pinching it (wish i did)......the indictor depending on which Broker you have takes time......good example i tried on FX Pro and it really took time.......

So basically i combine Hector and SS Method.....Daily is currently a mess esp with the 30 & 50 starting to bend.......sorry Chris........no more Hector
  • #4,533
  • Aug 11, 2009 5:54am Aug 11, 2009 5:54am
Quoting Danku
Yah, i use his method too...Trend Trading...n for pinching it (wish i did)......the indictor depending on which Broker you have takes time......good example i tried on FX Pro and it really took time.......

So basically i combine Hector and SS Method.....Daily is currently a mess esp with the 30 & 50 starting to bend.......sorry Chris........no more Hector
A combination of the two would work fine. Hector does use round numbers but it makes much more sense to mark the round numbers that have actually mattered in the past.

That's what I like about trading, you can take the best bits of what you have learnt and put it all together into something you feel comfortable with and that you can trade.
  • #4,534
  • Aug 11, 2009 6:09am Aug 11, 2009 6:09am
Quoting hel13rock
A combination of the two would work fine. Hector does use round numbers but it makes much more sense to mark the round numbers that have actually mattered in the past.

That's what I like about trading, you can take the best bits of what you have learnt and put it all together into something you feel comfortable with and that you can trade.
Spoken like a true queen...though for me what really comes out is when you know the pattenr signals....it is just a case of sitting back and waiting.........hence the key word people..............PATIENCE............does not matter what method you are using.................
  • #4,535
  • Aug 11, 2009 6:42am Aug 11, 2009 6:42am
Quoting Danku
Spoken like a true queen...though for me what really comes out is when you know the pattenr signals....it is just a case of sitting back and waiting.........hence the key word people..............PATIENCE............does not matter what method you are using.................
True.

Looks like maybe a false breakout to the upside on GbpUsd?
  • #4,536
  • Aug 11, 2009 7:08am Aug 11, 2009 7:08am
Quoting eltrader
Hi Guys, in between these, quiet trading hours, just want to throw something out there for a bit of feedback...

I have been trading myself now for maybe 4 straight years, this year through, the obvious trial and error and joining the James 16 Forum, and following the likes of Chris's teachings, (also Trader Dante, over at trade2win) i feel i am finally getting it, though, it is at these times of waiting for that perfect set up, which are the hardest....
Yes, if you are patient - that's about all it takes in my opinion.

Those trades don't present themselves all the time, so that's why we have to let them run as far as possible.

Chris
  • #4,537
  • Aug 11, 2009 7:13am Aug 11, 2009 7:13am
Quoting hel13rock
A combination of the two would work fine. Hector does use round numbers but it makes much more sense to mark the round numbers that have actually mattered in the past.

That's what I like about trading, you can take the best bits of what you have learnt and put it all together into something you feel comfortable with and that you can trade.

Exactly. Hector is a good teacher from everything I have seen, and would recommend him to anyone. His method is a bit more trend-following than mine, but there is no reason a combination of me, James16, Billy Ray Valentine, and Hector wouldn't work for example.

It's about taking what makes you feel comfortable, and profitable, and applying it over and over.

This is why I gave hel13rock her own area in my forum. She has a few strategies that she has been working on in conjunction with this thread. It's a good blend of different tools.

That's how it works, you take the tools you like, and make it happen.

Chris
  • #4,538
  • Aug 11, 2009 7:35am Aug 11, 2009 7:35am
Quoting hel13rock
True.

Looks like maybe a false breakout to the upside on GbpUsd?
False or not, it spooked me and I got out with profit I didn't like all that traffic we are going into on W1 anyway, so I managed this one tight.

And thank you Clockwork for this great thread.
  • #4,539
  • Aug 11, 2009 8:40am Aug 11, 2009 8:40am
Quoting Danku
it is just a case of sitting back and waiting.........hence the key word people..............PATIENCE............does not matter what method you are using.................
I call it traffic light trading:

RED (PATIENCE): Stop and wait for price closes to a level of interest. If you go on red you could be hit and probably die if doing on a regular basis.
YELLOW (DISCIPLINE): Prepare for pa gives go or no go. If you're true to yourself not everything is a clear go.
GREEN: GO (away from the chart) but keep in mind that you still could be hit by the red/yellow signal drivers.
10 x 100 = 100 x 10, stefx, retired scalper.
  • #4,540
  • Aug 11, 2009 9:06am Aug 11, 2009 9:06am
Quoting poga
False or not, it spooked me and I got out with profit I didn't like all that traffic we are going into on W1 anyway, so I managed this one tight.

And thank you Clockwork for this great thread.
This is no better than a 50/50 call now as to which way it's going to break. Given that New York opened a while ago and still no breakout in either direction you can tell that it's going to be tricky to call.

I'm going to cancel my pending short as I prefer my main trade of the day to have happened by now. If there is a breakout either way I'm not sure how much momentum there will be behind it at this time of day. There's no news out and nothing special to move the market so I'm bowing out.
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