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Silent Service Method

  • #5,381
  • Oct 9, 2009 5:17am Oct 9, 2009 5:17am
Quoting clockwork71
Look, fair enough. I know that you are skeptical, and to be honest - you are correct to be. There are a lot of bullshitters out there.

You have proven yourself to be a decent person by being willing to apologize. I am sorry as well. You are welcome here Sanook.

Chris
I have to say I have been surprised by the truly wonderful people that I have met thru trading.

This powerful little exchange I quoted from Chris and Sanook is something we need to see more of in this world, humility.

I believe trading shows us who we are. The whole world and all it's psychology is there in our charts. My own weaknesses, and strengths, are made apparent in my trades. The depth and intricacy beneath the candles is a thing of beauty to me.

Sanook, in Chris you've found someone real who has something unique to offer you.

Best,
Gail
  • #5,382
  • Edited 6:55am Oct 9, 2009 6:32am | Edited 6:55am
Quoting el_duende
AUD/JPY looking interesting can the 4 hr bar close above S/R level of 80?
Ive taken a long on this pair @ 80.35. Price has closed above the key S/R level of 80. Next S/R level is 82. We also had an inside bar form at the 80 level which to me shows market was at a kind of balance, buyer and sellers agreed on price. Next bar was important as it hopefully is the bar that shows the direction price will take.

Looking at chart now we have now had a BEEB however I dont like the position of it so I am keeping my long open

Good reasons for trade

S/R level broke
4 hour trend direction
Daily trend direction

edit, forgot to say I rarely play breakout trades so forgive me if it gos wrong lol, I am trying to better my skill at it.
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  • #5,383
  • Oct 9, 2009 9:08am Oct 9, 2009 9:08am
I posted this some days back and asked if anyone has any question about where it is headed?

Look at my minor Support and where did it stop? 1.5400......

Nice Weekend guys/gals...c yah Monday........

Quoting Danku
Another tradeable pair to the downside, i had not seen this pair..........Anyone need an answer where this is headed? Confluence off FIBs 50.0, solid resistance 1.5800 that has been tested a number of times..........pure S / R TRade....thanks Chris

Guys/Gals, forget those 1min, 5min, 15mins, 30mins, 1hr charts and look at the Daily and 4-hr only. I hadly take any trades off the 4-hr unless we are in clear trend.
  • #5,384
  • Oct 9, 2009 9:10am Oct 9, 2009 9:10am
Quoting el_duende
Ive taken a long on this pair @ 80.35. Price has closed above the key S/R level of 80. Next S/R level is 82.

S/R level broke
4 hour trend direction
Daily trend direction
I took that set up as well, and can i just say, there's nothing better than waking up in the morning w/ a nice little profit:

The common theme in most of these trades is long commodity country currencies... (AUD/JPY & CAD/JPY are the two i took and I believe Stefx is still long NZD/JPY). Not terribly surprising given gold & other commodities recent moves.

The other two I took were pretty typical set ups, but again were long commodity currencies...

Shorts:
USD/CAD - Posted previously
GBP/CAD - Set up below - that looks pretty textbook, no?
http://i437.photobucket.com/albums/q...d-4h-10909.gif

The only other thing to mention is that It was probably a bit sloppy on my part to be so long the CAD in front of their unemployment report (which by the way was an excellent report). I got lucky that it worked out, but next time it's probably worth dialing down the size a bit to play it safer...

Enjoy the long weekend!
  • #5,385
  • Oct 9, 2009 11:23am Oct 9, 2009 11:23am
Is anyone watching CNBC 12:18 PM EST. They are making jokes and discrediting TA for crackpots. LOLOL. They tried talking about certainty, what certainty do they bring?

Anyone recording the show, or has access to the clip. Would be nice to share.

PS. My dad was watching the crap in 2 rooms over, I don't watch crap. Whenever I see that channel on I just turn the TV off.

-snacker
  • #5,386
  • Oct 9, 2009 12:31pm Oct 9, 2009 12:31pm
patience pays...
took this long a few days ago (pin bar pointed by the arrow, 30th september) and sitted doing nothing till yesterday when finally decided to move

I was really tempted to close the trade but decided to stick with the plan and now enjoying the results (also had other two trades getting stopped early because the trail was too much tight, learned to let it go )
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  • #5,387
  • Oct 9, 2009 12:50pm Oct 9, 2009 12:50pm
Quoting Danku
I posted this some days back and asked if anyone has any question about where it is headed?

Look at my minor Support and where did it stop? 1.5400......

Nice Weekend guys/gals...c yah Monday........
Nice catch, I think we are heading for trouble trying to get below here though as evident by the pinbar and s/r line.

By the way - if a post goes unanswered, it's completely by accident - do not hesitate to PM me if you think I have missed one!

Chris
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  • #5,388
  • Oct 9, 2009 12:51pm Oct 9, 2009 12:51pm
Quoting ttteee
patience pays...
took this long a few days ago (pin bar pointed by the arrow, 30th september) and sitted doing nothing till yesterday when finally decided to move

I was really tempted to close the trade but decided to stick with the plan and now enjoying the results (also had other two trades getting stopped early because the trail was too much tight, learned to let it go )
These types of trades can be great learning situations - if you let them be......great trade. Congrats!
  • #5,389
  • Oct 9, 2009 2:06pm Oct 9, 2009 2:06pm
End of the week I close off my GBP/USD trade for nice profit, leaving AUD/JPY open.

Have fun over the weekend.
  • #5,390
  • Oct 10, 2009 12:39am Oct 10, 2009 12:39am
Quoting ttteee
patience pays...
took this long a few days ago (pin bar pointed by the arrow, 30th september) and sitted doing nothing till yesterday when finally decided to move

I was really tempted to close the trade but decided to stick with the plan and now enjoying the results (also had other two trades getting stopped early because the trail was too much tight, learned to let it go )
Hi.

Nice take. A good lession on the importance on trading the plan and give the market the chance to work for you.

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Nice weekend, Stefan.
10 x 100 = 100 x 10, stefx, retired scalper.
  • #5,391
  • Oct 10, 2009 4:44am Oct 10, 2009 4:44am
Good eye Stefan.......if my broker had pair would have taken the long. Notice the length of those tails.....telling a very good lie as to the direction....and importantly off some good support.

Congrats ttteee on that trade....Nice weekend

Quoting stefx
Hi.

Nice take. A good lession on the importance on trading the plan and give the market the chance to work for you.

Attachment

Nice weekend, Stefan.
  • #5,392
  • Oct 10, 2009 7:07am Oct 10, 2009 7:07am
Quoting stefx
Hi.

Nice take. A good lession on the importance on trading the plan and give the market the chance to work for you.

Attachment

Nice weekend, Stefan.
This is a great example of not only a pinbar.....but reading a combination of bars and hearing the story they are trying to tell. Many people would have seen the original pinbar, and lost interest in the trade because it visually didn't set up. But by seeing the higher lows, the long tails, the s/r line, and the repeating pins.......Stefan still had a trade. Each chart tells a story, are you listening?

Chris
  • #5,393
  • Oct 10, 2009 1:32pm Oct 10, 2009 1:32pm
http://i38.tinypic.com/34ha0k7.png
  • #5,394
  • Oct 10, 2009 7:47pm Oct 10, 2009 7:47pm
Checking out this potential trade for a long....

LXU
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  • #5,395
  • Oct 10, 2009 8:44pm Oct 10, 2009 8:44pm
Quoting el_duende
Possible trade forming on 4hr GBP/USD? #

We have an inside bar formed at 1.61 daily S/R level. This could be a sign that no more buyers are at this level and price may reverse at this level. We can have a quite a small stop too and could provide a nice R:R. Good things about this trade if we break low of IB.

At 1.61 daily S/R
With 4 hr trend
With daily trend
At upper bollinger band
I have some questions how these chart differences occur!?
Please look at the attached pics. thanks
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  • #5,396
  • Oct 10, 2009 10:37pm Oct 10, 2009 10:37pm
Quoting Quan-Chi-Lin
I have some questions how these chart differences occur!?
Please look at the attached pics. thanks
The differences occur because different brokers use different system times, so their candles paint differently. For example, fxpro closes their daily candle at 4:30 PM my time, while my oanda feed closes it at 9 PM my time, so they're very different looking candles.

I use two feeds to check for PA, and wouldn't mind a third.
  • #5,397
  • Oct 10, 2009 10:38pm Oct 10, 2009 10:38pm
Quoting Quan-Chi-Lin
I have some questions how these chart differences occur!?
Please look at the attached pics. thanks
Different open and closing times with different brokers
  • #5,398
  • Oct 11, 2009 6:50am Oct 11, 2009 6:50am
Quoting Low
The differences occur because different brokers use different system times, so their candles paint differently. For example, fxpro closes their daily candle at 4:30 PM my time, while my oanda feed closes it at 9 PM my time, so they're very different looking candles.

I use two feeds to check for PA, and wouldn't mind a third.
Thanks Low and VitaminBeer,

so what would you suggest me guys, i am trading the H4 and Daily Bars,
the daily bars looks good at both (fxpro and alpari) brokers, but the difference between the H4 bars is a little bit bad in my eyes.

Thanks a lot
  • #5,399
  • Oct 11, 2009 7:27am Oct 11, 2009 7:27am
Quoting Quan-Chi-Lin
Thanks Low and VitaminBeer,

so what would you suggest me guys, i am trading the H4 and Daily Bars,
the daily bars looks good at both (fxpro and alpari) brokers, but the difference between the H4 bars is a little bit bad in my eyes.

Thanks a lot
To be honest, it doesn't really matter so much, as it is a rejection of the s/r line that really matters more than the shape of the bar. I was once told to just pick a broker and stick with that time zone. Personally, I just trade whatever chart I am looking at. I have found it really doesn't seem to make a large difference either way.

For example, I use a IBFX chart for forex trades, although I use Interactive Brokers for my trades. IBFX is GMT. But, there are some pairs that Interactive offers that IBFX doesn't. (CAD/JPY being the main one i watch.) Well, the IB chart is based on a daily close at 5pm NY time.

Chris
  • #5,400
  • Oct 11, 2009 1:08pm Oct 11, 2009 1:08pm
Quoting clockwork71
To be honest, it doesn't really matter so much, as it is a rejection of the s/r line that really matters more than the shape of the bar. I was once told to just pick a broker and stick with that time zone. Personally, I just trade whatever chart I am looking at. I have found it really doesn't seem to make a large difference either way.

For example, I use a IBFX chart for forex trades, although I use Interactive Brokers for my trades. IBFX is GMT. But, there are some pairs that Interactive offers that IBFX doesn't. (CAD/JPY being the main one i...
Okay Chris,

iīll try to stick to one broker. Thatīs the answer i waited for Thanks
I recognized these differences some days ago for the first time,
as i opened an microaccount at aplari.uk and thts why i was so surprised.

Now i feel a little bit better, keep on with your excellent work cris
Your thread is fantastic, i donīt write posts because of my english
but i read and learn a lot!

Best regards from germany
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