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  • #7,021
  • Oct 28, 2009 9:17pm Oct 28, 2009 9:17pm
Quoting rgrace
I PM'ed him and volunteered to trade this method and document it on this thread. This will be similar to a trading journal inside this thread.

...

I hope I will add to the knowledge in this thread by trading, and posting the results.

rgrace
Good one, and I will watch closely, too, and will try to comment on your trades AFTER you close the position.
  • #7,022
  • Oct 28, 2009 9:17pm Oct 28, 2009 9:17pm
Quoting Blackeagle
Unless 5/6/2009 high or 8/7/2009 low is broken, my game plan on EJ is range trading between 131 and 138, and it worked perfectly 4 times since June and 5th is on the way.
Seems to be doing you just fine. I do see a subtle pattern of HL's on that weekly though. The extent of the pullback surprises me a bit, but perhaps you are right that it has momentum from the range players - the breakout if it ever comes could be the play of the year (next to USDJPY of course!)
  • #7,023
  • Oct 28, 2009 9:21pm Oct 28, 2009 9:21pm
Quoting strat
If you haven't done already, for your own good and betterment as a trader, STOP TRADING and go to the beginning of The Path of Learning and read and UNDERSTAND. When you get back to this post, you should be a better trader.

Strat...
Already have stopped..... not much left to trade with, anyway. Thank Goodness it was a small account. Part of my flaw was the way the WT software acted when I placed the trade...it's preset "money management" settings entered me for 2 mini-lots, instead of the 2 micro-lots I intended to trade, I didn't find this out until the trade ran all Sunday night, and instead of losing 20 dollars, I ended up losing 400. I did not intend to set a ridiculous stop that deep, but I was attempting to allow the trade to run long enough to (what I thought) run back down and allow me to break-even. It never even got close. My stupidity, I have no-one to blame but myself, I should have looked more closely before pulling the trigger, but I'll not allow some software to over-ride my prudency again.

Any-who.... your original Home Page recently changed, and the format no longer has any headings on the left column labeled Path of Learning, so I'll assume that when you refer to this, your intent is that I select and comprehend all headings in that column, also James 16 lessons regarding Price Action, and the content of this thread, correct?

Ez
  • #7,024
  • Oct 28, 2009 9:22pm Oct 28, 2009 9:22pm
Quoting strat
Bloody Nora - that's one hell of a waltz, Matilda!
And this is another view with a little modification on chart.
Attached Image (click to enlarge)
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  • #7,025
  • Oct 28, 2009 9:29pm Oct 28, 2009 9:29pm
Quoting EzRidr62
Strat...
Already have stopped..... not much left to trade with, anyway. Thank Goodness it was a small account. Part of my flaw was the way the WT software acted when I placed the trade...it's preset "money management" settings entered me for 2 mini-lots, instead of the 2 micro-lots I intended to trade, I didn't find this out until the trade ran all Sunday night, and instead of losing 20 dollars, I ended up losing 400.
Ouch! Expensive lesson. $400 gone out of a small account on one trade. I have done similar things on accident, but luckily I caught it before it went to that point.

At least you learned your lesson, consider it tuition. Read the thread from post one, understand every post, apply it to demo, then go live again when you are profitable for a while in demo.
  • #7,026
  • Oct 28, 2009 9:30pm Oct 28, 2009 9:30pm
Quoting elitejets
That spike / rally was in the last three hours to be fair because of the Bank of New Zealand rate statement. Widely expected to raise rates along with Australia the NZ government disappointed and did not give any hints about raising rates soon.
The market had priced in a hike ...
I might let this one calm down, having said that I dont see much resistance there until 1.2650
And next week, there will be RBA rate statement where 0.25% increase already priced in and 0.50% was possible until CPI was announced yesterday (though still have a chance). So waiting for 1.2350-1.2400 zone for retesting and seeing PA there would be a safer play, IMO. So, I agree with you.
  • #7,027
  • Oct 28, 2009 9:34pm Oct 28, 2009 9:34pm
Quoting Blackeagle
Good one, and I will watch closely, too, and will try to comment on your trades AFTER you close the position.

I would definitely appreciate that.
  • #7,028
  • Oct 28, 2009 9:36pm Oct 28, 2009 9:36pm
Quoting EzRidr62
Strat...
Already have stopped..... not much left to trade with, anyway. Thank Goodness it was a small account. Part of my flaw was the way the WT software acted when I placed the trade...it's preset "money management" settings entered me for 2 mini-lots, instead of the 2 micro-lots I intended to trade, I didn't find this out until the trade ran all Sunday night, and instead of losing 20 dollars, I ended up losing 400. I did not intend to set a ridiculous stop that deep, but I was attempting to allow the trade to run long enough to (what I thought)...
Start at Post # 1, Page 1. Read and UNDERSTAND. Then move onto the next post and read and UNDERSTAND. Keep doing this until you get back here. The important point is UNDERSTANDING. Do not move to the next post until you fully UNDERSTAND the prior post. There is no hurry. There is no race.

The market and us will still be here when you have finished and are ready. Make a list of any questions you have and wait for them to be answered in subsequent posts. If you don't find an answer then post your questions on here.
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,029
  • Oct 28, 2009 9:57pm Oct 28, 2009 9:57pm
Quoting Naws
I gotta admit I closed it also - at 133

this is where the head games came in a little bit, I was up double my risk on my first trade and just wanted to keep my winnings so I closed it before it got into the real support, which isnt too far away anyways
Didn't you see my Gene Pitney post? Post #7001
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,030
  • Oct 28, 2009 9:58pm Oct 28, 2009 9:58pm
Quoting strat
Start at Post # 1, Page 1. Read and UNDERSTAND. Then move onto the next post and read and UNDERSTAND. Keep doing this until you get back here. The important point is UNDERSTANDING. Do not move to the next post until you fully UNDERSTAND the prior post. There is no hurry. There is no race.

The market and us will still be here when you have finished and are ready. Make a list of any questions you have and wait for them to be answered in subsequent posts. If you don't find an answer then post your questions on here.

Will do...... see you all sometime next year, I think.....lots of pages keep getting added every day! LOL

Ez
  • #7,031
  • Oct 28, 2009 10:04pm Oct 28, 2009 10:04pm
Quoting strat
If we keep telling them, do you think eventually they will get the message? I can only guess that its the simplicity that makes it difficult!
Sooner or later they will, I am sure. The number of newcomers to the thread is increasing my hopes.
  • #7,032
  • Oct 28, 2009 10:22pm Oct 28, 2009 10:22pm
Quoting Alexandra
I do see a subtle pattern of HL's on that weekly though. .... the breakout if it ever comes could be the play of the year (next to USDJPY of course!)
And LH's, too, though marginal compared to HL's. More tests, stronger the breakout, I agree.

It is also interesting to note that how price respects the back of DSRI.
Attached Image (click to enlarge)
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  • #7,033
  • Oct 28, 2009 10:44pm Oct 28, 2009 10:44pm
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This has spoiled my night!

Now I’m going to have to take it out on either the BOSS or a bottle of red wine – just remembered in the nick of time – the BOSS isn’t an option !

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  • #7,034
  • Oct 28, 2009 11:03pm Oct 28, 2009 11:03pm
Where can I sign up?
  • #7,035
  • Oct 28, 2009 11:06pm Oct 28, 2009 11:06pm
Quoting strat
- You DONT want to stress about your trades
- You DONT want to monitor your screen all day.
- You want to be able to set your trade, return later with a large profit.
Reminds me of this other method I know
  • #7,036
  • Oct 28, 2009 11:08pm Oct 28, 2009 11:08pm
Quoting strat
Didn't you see my Gene Pitney post? Post #7001
No, didn't see it

I have my ascending tl drawn a bit differnt, from February low to Oct 6 which puts it a bit closer to the current price
  • #7,037
  • Oct 29, 2009 2:58am Oct 29, 2009 2:58am
Quoting strat
Some absolute idiot sent me a link to this! Why? Maybe it’s somebody I pissed off!

These scammers really piss me off big time. They know as much about forex trading as my big toe!

But what they do know is how to make money on the new and unsuccessful wannabe rich soon people. They are experts at marketing.

The more I see this rubbish, the more I wish we had greater visibility in forex and trading in general.

[b][font=Arial]This has spoiled...

Sounds like a BIG LOOSER to me
Success consists of going from failure to failure without loss of enthusiam
  • #7,038
  • Oct 29, 2009 3:49am Oct 29, 2009 3:49am
Quoting oblo
I share my view on ej, hoping also to strenghten my discipline:

Big boss is showing a bullish candle but still in a range.
Boss is also showing bullish momentum, but cannot pass the 138 resistance.
Daily is showing a juicy beob. Unfortunately for those who want to play the range downward the 136 support is too near.

Ramon
I still have to work hard on how to identify the S/R, even looking to the weekly closes only I still draw too many lines. I remember an old Blackeagle post where he says that we should not spend too much time looking for a sr area, it should be recognized quiet obviously. I am wondering if those areas that we got looking back into the past should be revised under the light of recent sr areas.
EJ was a missed opportunity for me...
  • #7,039
  • Oct 29, 2009 4:30am Oct 29, 2009 4:30am
Quoting strat
Some absolute idiot sent me a link to this! Why? Maybe it’s somebody I pissed off!

These scammers really piss me off big time. They know as much about forex trading as my big toe!

But what they do know is how to make money on the new and unsuccessful wannabe rich soon people. They are experts at marketing.

The more I see this rubbish, the more I wish we had greater visibility in forex and trading in general.

[b][font=Arial]This has spoiled...
Hi Strat http://cdn.forexfactory.com/images/icons/icon7.gif

This sounds like a perfect introduction to your thread don't you think, only with much more hype.

Jideck
  • #7,040
  • Oct 29, 2009 4:53am Oct 29, 2009 4:53am
Quoting strat
This is where it comes in to play, Dan. Did you miss this one?
Yes i did miss it to be honest. I haven't had my eye on EURJPY for a number of weeks.
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