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Silent Service Method

  • #4,941
  • Sep 1, 2009 10:24am Sep 1, 2009 10:24am
Here is the Au and Ive been in for a couple of days now got a little nervous a day or two ago and moved my stop just above the zone indicated by the upper blue box from 8600. I plan on going to Be even if price reaches the lower blue zone.
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  • #4,942
  • Sep 1, 2009 10:28am Sep 1, 2009 10:28am
Hi.

From my open trades 2 are boring, remains to mention G/U. It's interesting for me because I could probably lock profits. The last few days price bounced between 1.6200/1.6350 but the last 3 bars, a possible failure of the recent pin together with a break of 1.6200 would let me trail the stop to 1.6410. I mentioned before that my next service area would be 1.6000 but now I see that if price breaks the two recent highs and 1.6400 my stop at B/E is likely to be hit anyways too.

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Stefan.
10 x 100 = 100 x 10, stefx, retired scalper.
  • #4,943
  • Sep 1, 2009 11:18am Sep 1, 2009 11:18am
Quoting CanuckCT
It's the daily chart that has prompted me to move my stop....here is what it looks like at the moment.
Cheers
CanuckCT

Attachment

I have almost the exact same entry. It's really having trouble at 132.25.
  • #4,944
  • Sep 1, 2009 12:25pm Sep 1, 2009 12:25pm
Just broke 132...so could get interesting from here. There is a trendline from Apr and July lows that may provide a place to bounce...
Cheers
CanuckCT

Quoting Low
I have almost the exact same entry. It's really having trouble at 132.25.
  • #4,945
  • Sep 1, 2009 1:27pm Sep 1, 2009 1:27pm
practicing the "impulse to look each tick of the chart"
won't open mt4 until tomorrow
  • #4,946
  • Sep 1, 2009 2:21pm Sep 1, 2009 2:21pm
A trade I am presently in.....had a few sweating moments waiting for this stock to behave.....

I have included the statement as well, since posting "Hypothetical Trades" really doesn't teach much.

The first chart is one I posted a while ago.
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  • #4,947
  • Sep 1, 2009 2:52pm Sep 1, 2009 2:52pm
Not a trade I'm in...but this one I believe to be textbook for this approach to trading. I've only started back trading last week after some time away due to personal reasons......this weekly pinbar fours weeks ago on GU is a good a setup as you'll find, IMHO.
Cheers
CanuckCT

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  • #4,948
  • Sep 1, 2009 2:57pm Sep 1, 2009 2:57pm
Quoting CanuckCT
Not a trade I'm in...but this one I believe to be textbook for this approach to trading. I've only started back trading last week after some time away due to personal reasons......this weekly pinbar fours weeks ago on GU is a good a setup as you'll find, IMHO.
Cheers
CanuckCT

Attachment
I was in this trade short actually. I will be damned if my stop didn't get nicked by a handful of pips. (Was in profit, so can't bitch too much I guess.) You are correct though, it was a great set up. By the way: That pin.....was at a 50% retrace.
  • #4,949
  • Sep 1, 2009 7:09pm Sep 1, 2009 7:09pm
Hello all, good trading going on by everyone, I am very proud to be associated with such good traders!

My GbpJpy trade was stopped out at break even today after bad Gbp news. I am not upset as I didn't lose money but next time I will lock some profit in before the news hits. If it goes my way I am in profit big and if it goes against then my stop loss is hit. No problems. 160 pips down the drain

I am watching eur and aud against the usd, could be a good long on either of these soon. Either that or those major uptrends against the usd are going to reverse and should be a good move down.

I think eurgbp is going down but it is not clear signal so I leave.

I look forward to watching everybody elses trades and learning all the time.

Eduardo
  • #4,950
  • Sep 1, 2009 8:02pm Sep 1, 2009 8:02pm
Quoting Eduardo
Hello all, good trading going on by everyone, I am very proud to be associated with such good traders!

My GbpJpy trade was stopped out at break even today after bad Gbp news. I am not upset as I didn't lose money but next time I will lock some profit in before the news hits. If it goes my way I am in profit big and if it goes against then my stop loss is hit. No problems. 160 pips down the drain

I am watching eur and aud against the usd, could be a good long on either of these soon. Either that or those major uptrends against the usd are...
Eduardo -

I agree with the EUR/GBP idea......just waiting for it to tell me to short it.

Welcome to our thread.

Chris
  • #4,951
  • Sep 1, 2009 11:17pm Sep 1, 2009 11:17pm

Thought I would post this for fun....

Inserted Video

  • #4,952
  • Sep 1, 2009 11:57pm Sep 1, 2009 11:57pm
CW,

I was so proud I had just left my trade alone for a couple of days, and said so to my girlfriend....she said " tell me when it's been running for a few weeks, not a few days"

Do you guys talk or something? LOL.
  • #4,953
  • Sep 2, 2009 2:15am Sep 2, 2009 2:15am
Quoting clockwork71
Eduardo -

I agree with the EUR/GBP idea......just waiting for it to tell me to short it.

Welcome to our thread.

Chris
Thank you Chris I will be reading this thread every day from now.

I buy GbpJpy again and it looks even better this time.

Will you wait for a daily close on eurgbp to close down before you short? This pair doesn't move that much in a day and the 4 hour can be a bit up and a bit down.
  • #4,954
  • Sep 2, 2009 4:23am Sep 2, 2009 4:23am
Quoting Eduardo
Thank you Chris I will be reading this thread every day from now.

I buy GbpJpy again and it looks even better this time.

Will you wait for a daily close on eurgbp to close down before you short? This pair doesn't move that much in a day and the 4 hour can be a bit up and a bit down.
Depends, but I agree - daily is clearer on this particular pair.
  • #4,955
  • Sep 2, 2009 4:23am Sep 2, 2009 4:23am
Quoting Low
CW,

I was so proud I had just left my trade alone for a couple of days, and said so to my girlfriend....she said " tell me when it's been running for a few weeks, not a few days"

Do you guys talk or something? LOL.
  • #4,956
  • Sep 2, 2009 5:10am Sep 2, 2009 5:10am
Quoting Eduardo
I buy GbpJpy again and it looks even better this time.
Didn't go so good today, stopped out already.

I love the video Chris.

Do you think with the increased volatility and to some extent unpredictability of some pairs recently it may be better to just watch daily charts for entries? I know you would need a bigger stop loss but you'd get bigger winners and more reliable signals no?

GbpJpy has just had a 1200 pip run down that gave a pretty good signal on the daily chart to enter. I'm thinking maybe the 4 hour is too far into the forest to see any trees?
  • #4,957
  • Sep 2, 2009 7:40am Sep 2, 2009 7:40am
Now that we have cleared the 132ish range....looks like next target is 128. I've moved my stop to lock in about 240 pips. Might be premature to move to here...but would be quite content to get stopped here......now back to work!
Cheers
CanuckCT

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  • #4,958
  • Sep 2, 2009 7:59am Sep 2, 2009 7:59am
Quoting clockwork71

Thought I would post this for fun....

http://www.youtube.com/watch?v=HddAJeeuJ5E




keeping things real.
  • #4,959
  • Sep 2, 2009 10:49am Sep 2, 2009 10:49am
Ok so I am short EurGbp and UsdCad. Going to move to break even by Friday morning or maybe close if not. If the big news is Usd negative then I could be on board the big train to the sunny south! If not then I lose nothing.
  • #4,960
  • Sep 2, 2009 11:04am Sep 2, 2009 11:04am
I see some people posting about letting trades run. I have a suggestion to help.

If you trade with Metatrader you can close the terminal window (the one with the balance and details of your trade + or -).

With this turned off when you have open trades you can just watch your trade on the charts so you know if you are up or down or if you need to close or open more.

If you are not looking at the P and L ticking up and down and you don't know how much you are up or down then you are not drawn in to the emotions that these numbers upset.

Try it, it works good for me. Of course to alter your trade ie move your stop loss you have to look but otherwise it is good.
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