there are trading rules (link?) or it is discretionary trading?
No particular system or strategy, we're here to share our views on the markets and each other's own way of handling them...
- #41
- Aug 26, 2009 7:51am Aug 26, 2009 7:51am
- Joined May 2006 | Status: Still here. | 2,602 Posts
No particular system or strategy, we're here to share our views on the markets and each other's own way of handling them...
- #42
- Aug 26, 2009 9:36am Aug 26, 2009 9:36am
Don't you love it when you wake up and one of your orders has hit TP?
Would love to say I'm a non-emotional trader that doesn't get happy (or sad if it goes the other way) but hey, it is a great start to a new day
What pairs are you watching today? (Zuzia, you're braver than I am. The Beast and its wild swings kind of scares me. I'd have to print up a sign for my office, just like Cobra...)
Would love to say I'm a non-emotional trader that doesn't get happy (or sad if it goes the other way) but hey, it is a great start to a new day
What pairs are you watching today? (Zuzia, you're braver than I am. The Beast and its wild swings kind of scares me. I'd have to print up a sign for my office, just like Cobra...)
- #43
- Aug 26, 2009 10:06am Aug 26, 2009 10:06am
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
- #45
- Aug 26, 2009 11:12am Aug 26, 2009 11:12am
What I am currently looking at on the EURUSD . . .
Big area this, am prepared to go long or short here as it's a strong area to trade away from imho.
I think if I was smart enough to use ICCE I would be calling it into action here very soon as I think this might be ranging around here for a while (Look to the area of consolidation to the left)
Big area this, am prepared to go long or short here as it's a strong area to trade away from imho.
I think if I was smart enough to use ICCE I would be calling it into action here very soon as I think this might be ranging around here for a while (Look to the area of consolidation to the left)
- #46
- Aug 26, 2009 11:42am Aug 26, 2009 11:42am
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
What I am currently looking at on the EURUSD . . .
Big area this, am prepared to go long or short here as it's a strong area to trade away from imho.
I think if I was smart enough to use ICCE I would be calling it into action here very soon as I think this might be ranging around here for a while (Look to the area of consolidation to the left)
Thiis is how ICCE sees it on a 1Hr TF.
- #47
- Aug 26, 2009 11:49am Aug 26, 2009 11:49am
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
[quote=Bemac;2994761]Looks like your Chart is 2Hr Time Frame.
Thiis is how ICCE sees it on a 1Hr TF.
Same Channel, Diagonals Reversed. 
Thiis is how ICCE sees it on a 1Hr TF.
Same Channel, Diagonals Reversed.
- #49
- Aug 26, 2009 12:08pm Aug 26, 2009 12:08pm
* I still use the 'sticks though.*Or so I hope
Seems it's a Renko Chart (M2 based).
Looks like your Chart is 2Hr Time Frame.
Thiis is how ICCE sees it on a 1Hr TF.
Same Channel, Diagonals Reversed.Attachment
Theres the type of entry I would be gunning for
? The R:R on ICCE just seems to be so good. You could be wrong a few times and still be profitable . . . A shame I cannot draw them them for the life of me though
- #51
- Edited 1:30pm Aug 26, 2009 1:03pm | Edited 1:30pm
- Joined May 2006 | Status: Still here. | 2,602 Posts
A shame I cannot draw them them for the life of me though
http://www.forexfactory.com/showthread.php?t=162886
I haven't had the time to follow up the discussion but will look for it soon, as it seems to me amazingly accurate, target-wise.
Edit: I think I found it...
http://www.forexfactory.com/showpost...&postcount=674
Bemac could you please confirm?
Edit2: Here's the link to the video that Cobraforex did to explain how to use the indicator:
http://www.cobraforex.com/icce/icce.html
- #52
- Aug 26, 2009 1:44pm Aug 26, 2009 1:44pm
- Joined Oct 2006 | Status: Trader | 7,219 Posts
Oooohhhh, it feels all safe in here - like a cocoon - with all the bodyguards standing at the door
Okay, price was rejected by my 200 SMA on my 4 hour USDX chart (and same on my 4 hour EUR chart). Looks like it could try to head for 79.40 (RSI still got room to move up if it so wishes).
SSI: Extreme USDCHF SSI Reading Eases as Retail Traders Vindicated in Range
Wednesday, 26 August 2009 18:12:50 GMT
Written by John Kicklighter, Currency Strategist
Intraday Highlight:
USDCHF - The ratio of long to short positions in the USDCHF stands at 2.50 as nearly 71% of traders are long. Yesterday, the ratio was at 3.64 as 78% of open positions were long. In detail, long positions are 21.5% lower than yesterday and 10.4% weaker since last week. Short positions are 14.6% higher than yesterday and 30.4% stronger since last week. Open interest is 13.7% weaker than yesterday and 10.4% above its monthly average. The SSI is a contrarian indicator and signals more USDCHF losses.
And finally, Bank of Scotland's Daily Market Strategy (a little late)
Okay, price was rejected by my 200 SMA on my 4 hour USDX chart (and same on my 4 hour EUR chart). Looks like it could try to head for 79.40 (RSI still got room to move up if it so wishes).
SSI: Extreme USDCHF SSI Reading Eases as Retail Traders Vindicated in Range
Wednesday, 26 August 2009 18:12:50 GMT
Written by John Kicklighter, Currency Strategist
Intraday Highlight:
USDCHF - The ratio of long to short positions in the USDCHF stands at 2.50 as nearly 71% of traders are long. Yesterday, the ratio was at 3.64 as 78% of open positions were long. In detail, long positions are 21.5% lower than yesterday and 10.4% weaker since last week. Short positions are 14.6% higher than yesterday and 30.4% stronger since last week. Open interest is 13.7% weaker than yesterday and 10.4% above its monthly average. The SSI is a contrarian indicator and signals more USDCHF losses.
And finally, Bank of Scotland's Daily Market Strategy (a little late)
Nothing worth having is easy.
- #53
- Edited 1:59pm Aug 26, 2009 1:45pm | Edited 1:59pm
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
Bemac has a many of those, I've learned a lot from him.
Just follow his posts in the profile and analyse the calls to figure out WHY he took those positions, the best way to learn.
For TP areas try the ICCE, it's not the easiest way but very effective and accurate once you got it.
Here a chart, you see the two red bricks (previous ICCE box), those I draw yesterday as targets for today, you can observe it in AK's thread.
See how PA reacted in that zones (and now in the 50% area).
Just follow his posts in the profile and analyse the calls to figure out WHY he took those positions, the best way to learn.
For TP areas try the ICCE, it's not the easiest way but very effective and accurate once you got it.
Here a chart, you see the two red bricks (previous ICCE box), those I draw yesterday as targets for today, you can observe it in AK's thread.
See how PA reacted in that zones (and now in the 50% area).
Now THAT's a good day! Excellent call, btw. Think I'll have to check out tracking that pair...
- #55
- Aug 26, 2009 2:29pm Aug 26, 2009 2:29pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
...
For TP areas try the ICCE, it's not the easiest way... once you got it.
.Niether is Driving in Reverse, Until you've done it a bunch of times. Then it can be {nevermind Fun} Hilarious.
- #56
- Aug 26, 2009 2:33pm Aug 26, 2009 2:33pm
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
I'm trading it primery on 1H for daytrading but try it on a 1 or 5M chart, you will be amazed as I know you love to scalp as well.
Todo bien por aca,gracias. Un abrazo fuerte.
Todo bien por aca,gracias. Un abrazo fuerte.
Indeed I finally got it to "work" (thanks to your video!) and it looks like pure magic !
Really great for analysis.
Hope all is well ! Cariņos...
- #57
- Aug 26, 2009 2:37pm Aug 26, 2009 2:37pm
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
Haha, good tasting medicine doesn't help. 
Hey!
Niether is Driving in Reverse, Until you've done it a bunch of times. Then it can be {nevermind Fun} Hilarious.
- #58
- Aug 26, 2009 2:48pm Aug 26, 2009 2:48pm
- Joined May 2006 | Status: Still here. | 2,602 Posts
Haha, good tasting medicine doesn't help.
- #59
- Aug 26, 2009 3:03pm Aug 26, 2009 3:03pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
This is not gloating but submitted as {hopefully} education.
I'm still in this Trade.
WHY?
I hinted earlier.
I utilize a Dynamic Trailing Stop requested by me & written by .......... {nice that you give me the @ but there should be a spot for Credit Coder}
The Expert:
Bemac Trade Manager allows me to Input: (I'm sure it's for sale somewhere but you can get here {the source} for free. Don't ask; Search)
Pip Risk.
Hard Stop. {usually 25 Pips on a Day Trade}
Take Profit.
I usually have that at 500P because I don't expect to still be in the Trade at that Price. My Trade will have been closed.
Pip Profit to Activate Trailer.
Should be Higher than my Hard Stop so I default to 30P.
Trail by 30%
Once my Trade is in a +30P position, my Trailing Stop kicks in.
Set @ 30% this means that my New Stop will only allow 30% of My Maximum Profit from this Trade to be risked.
Some Math...
Up 30P My Trailer kicks in & risks 30% of Profit.
Profit = 30P
Risk = 30P x 30% = 9P = 21P Locked in.
Up 130P My Trailer has been modified as the Max Profit increased & risks 30% of MaxProfit.
Profit = 130P.;
Risk = 130P x 30% = 39P = 91P Locked in.
Questions?
Adding to the position is still in my open mind.
Notice that Both my MACD & Stohs are sliding down while price is gliding.
Some would call this a Bearish Divergance & I believe they would be wrong.
They are both just reloading like the coils on a spring.
That's wen I will add.
Currently Trailing Stop on this Trade is at 1.0958 from a Long Entry @ 1.0864.
I'm still in this Trade.
WHY?
I hinted earlier.
I utilize a Dynamic Trailing Stop requested by me & written by .......... {nice that you give me the @ but there should be a spot for Credit Coder}
The Expert:
Bemac Trade Manager allows me to Input: (I'm sure it's for sale somewhere but you can get here {the source} for free. Don't ask; Search)
Pip Risk.
Hard Stop. {usually 25 Pips on a Day Trade}
Take Profit.
I usually have that at 500P because I don't expect to still be in the Trade at that Price. My Trade will have been closed.
Pip Profit to Activate Trailer.
Should be Higher than my Hard Stop so I default to 30P.
Trail by 30%
Once my Trade is in a +30P position, my Trailing Stop kicks in.
Set @ 30% this means that my New Stop will only allow 30% of My Maximum Profit from this Trade to be risked.
Some Math...
Up 30P My Trailer kicks in & risks 30% of Profit.
Profit = 30P
Risk = 30P x 30% = 9P = 21P Locked in.
Up 130P My Trailer has been modified as the Max Profit increased & risks 30% of MaxProfit.
Profit = 130P.;
Risk = 130P x 30% = 39P = 91P Locked in.
Questions?
Adding to the position is still in my open mind.
Notice that Both my MACD & Stohs are sliding down while price is gliding.
Some would call this a Bearish Divergance & I believe they would be wrong.
They are both just reloading like the coils on a spring.
That's wen I will add.
Currently Trailing Stop on this Trade is at 1.0958 from a Long Entry @ 1.0864.
