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  • #461
  • Oct 1, 2009 6:54am Oct 1, 2009 6:54am
counter trends are tricky
4 pips and out

will most likely retrace to the 200 ema
not worth risking it and it could take a really long time...
will check back later to see what happened.
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  • #462
  • Oct 1, 2009 7:11am Oct 1, 2009 7:11am
Quoting lohad
Great Job Jiva! I only caught part of that move. Scalper at heart. Oh Well I am happy with my sliver of the pie. Again, great trade!

Lohad
thanks. this is really new to me. Seeing what is going on like this and being able to see like this can disappear as mysteriously as it came. I'm thinking this trading is actually a mystical science..

Kinda overlooked stating the significant of following price action. When Siuol took the brave step this am to actually try to trade with the set up, I realized I hadn't stated how I do follow price action.
The horizontal lines for bid and ask.
I actually follow those lines like anything. But I am not interested in the history trail of all the ups and downs and candles and bars, etc., from the past.
I watch those horizontal lines with laser vision. But I am only interested in where those lines are at the present moment in relationship to pivots and the trend as identified by ashi and fisher. The trend indis have already recorded the past and shown the direction. That is all the information a trader needs to decide what position to take. The other stuff is just like twitching... Enough to give me nervous breakdown...
So far this working out.
But it still is day 3. And I only have 4 pips.
(not counting the first trade which was an experiment)
Big moves possible today.
US data out the wazzoo...
  • #463
  • Oct 1, 2009 7:41am Oct 1, 2009 7:41am
sitting on s2.
not much of a response to US data.
higher time frames all indicate lower.
ask (yellow line) briefly rose to test 200ema. and fell back.
has already had a big run down...
may get stopped out...
yup stopped out
enter reverse position.
long...
tgt intersection s1 and 200 ema on 5 min chart. 1.4583
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  • #464
  • Oct 1, 2009 7:47am Oct 1, 2009 7:47am
buy signals on 5 min
logical tgt 200 ema/s1
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  • #465
  • Edited 8:11am Oct 1, 2009 7:56am | Edited 8:11am
just took what was there,
never mind fancy targets.
4 pips.
total for today
-14...
day 3, got me nervous
but it's early yet
more hot US data out in hour..
will know better where everything is going after then...
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  • #466
  • Oct 1, 2009 8:11am Oct 1, 2009 8:11am
did have a little more upside to it...
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  • #467
  • Oct 1, 2009 8:48am Oct 1, 2009 8:48am
I'm sure you all know by now, this trade was stopped out on the strong push downwards last night. Good thing it was a demo trade.

Quoting Siuol
Here is a screenshot of the trade I just took in my demo account. I entered long at 1.4627. Let's see what happens. I think price is going to start heading north.
  • #468
  • Oct 1, 2009 10:26am Oct 1, 2009 10:26am
straying from my goal.
goal is 5 trades, 5 pips each.
Somehow I've become the world's foremost authority on price action in
EURUSD
setting these long range tgts...
3 times now just within the last few minutes the entries were good, there were 5 or more pips right there, all I had to do was click and they were mine.
But oh no, I have big target set.
Ya well 3 times the 5 pip winners, turned around and became 10 and 20 pip losers.
stay on track!!
I knew the day 3 was going to be brutal..
it is...
so far -23 pips. I can turn this around if I get back on track...
I will...
  • #469
  • Oct 1, 2009 10:35am Oct 1, 2009 10:35am
down -18 pips
  • #470
  • Oct 1, 2009 10:38am Oct 1, 2009 10:38am
down -15 pips
  • #471
  • Oct 1, 2009 11:22am Oct 1, 2009 11:22am
-61 pips for the day.
So much for day 3
5 trades 5 pips each...
  • #472
  • Oct 1, 2009 11:52am Oct 1, 2009 11:52am
What happenend?

Quoting jiva34
-61 pips for the day.
So much for day 3
5 trades 5 pips each...
  • #473
  • Oct 1, 2009 12:06pm Oct 1, 2009 12:06pm
Quoting Siuol
What happenend?
side tracked.
Starting setting big targets,
forgot the goal
5 for 5
GREEDY
The minute I think I know it all, that's when I get hit by the train....

How's your day?
  • #474
  • Oct 1, 2009 12:26pm Oct 1, 2009 12:26pm
Don't sweat it. It has happened to all of us. My day is great. I only placed one trade in my live account this morning and it hit my target of 10 pips and I was out. A quick 1% growth to my account.

Quoting jiva34
side tracked.
Starting setting big targets,
forgot the goal
5 for 5
GREEDY
The minute I think I know it all, that's when I get hit by the train....

How's your day?
  • #475
  • Oct 1, 2009 12:46pm Oct 1, 2009 12:46pm
Quoting Siuol
Don't sweat it. It has happened to all of us. My day is great. I only placed one trade in my live account this morning and it hit my target of 10 pips and I was out. A quick 1% growth to my account.
some day.
Had 2 good days in a row.
someday..
smart like you...
  • #476
  • Oct 1, 2009 12:49pm Oct 1, 2009 12:49pm
You are doing great. You had two great days and one bad one. It happens. Nobody wins all the time. I think you need to determine some rules, set them in stone and just follow them. Once you get that down, you will be just fine.

You have the method, now you just need to control the emotions of trading, which I hate to say, is the toughest part. Took me years to get to where I'm currently at where I have my emotions under control and have removed them from my trading.

Quoting jiva34
some day.
Had 2 good days in a row.
someday..
smart like you...
  • #477
  • Oct 1, 2009 3:20pm Oct 1, 2009 3:20pm
+21 pips,
so total down for day is only -39

settings for fisher need to be changed
instead of 23, needs to be longer, 55.
55 helps to identify the longer term trend.

I want to meditate on putting pips in a bag.
The bag will get fuller and fuller.
Even 1 pip fills the bag a little more.
Some pips will be worth more than others.
2 lots 1 pip is worth more than 1 lot 1 pip.
5 lots 1 pip, 10 lots 1 pip..
it adds up fast that way.
But I cannot risk more than 2% of my account.
So if I have $5000 I can't risk more than $100 on a trade.
1 lot each pip is worth $10. So I would have to put a stop in 10 pips..
I think I've got the math right.
Tomorrow I take good money management into consideration before placing a trade. Not just the technicals on a chart.
best wishes
jiva34
  • #478
  • Oct 1, 2009 5:04pm Oct 1, 2009 5:04pm
Be aware that tomorrow is NFP and the market will be a little weird (maybe).

Quoting jiva34
+21 pips,
so total down for day is only -39

settings for fisher need to be changed
instead of 23, needs to be longer, 55.
55 helps to identify the longer term trend.

I want to meditate on putting pips in a bag.
The bag will get fuller and fuller.
Even 1 pip fills the bag a little more.
Some pips will be worth more than others.
2 lots 1 pip is worth more than 1 lot 1 pip.
5 lots 1 pip, 10 lots 1 pip..
it adds up fast that way.
But I cannot risk more than 2% of my account.
So if I have $5000 I can't risk more than $100 on...
  • #479
  • Oct 2, 2009 12:13am Oct 2, 2009 12:13am
question:
How does different ratios for margin affect the pip cost?
$10000 account at 1:500 as opposed to 1:20?
  • #480
  • Oct 2, 2009 12:34am Oct 2, 2009 12:34am
goal is 5 pips min per trade with 5 trades..
total for day min 25 pips.
Will trade the 5m.
with Fisher set to 55.
New demo account is $10000
no more than 2% risk on a trade means 20 pips stop per lot.

Trend reversals identified by Fisher 55
reentries and exits marked by ashi

with careful attention given to the position of the horizontal lines showing bid and ask in relationship to s/r, 200 ema and ashi... once a signal has been generated.
best wishes
jiva34
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