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TAF Based Trade Discussions

  • #1
  • First Post: Edited 4:43pm Oct 31, 2009 4:30pm | Edited 4:43pm
This thread is an off-thread discussion area to post and discuss trades based mainly upon the ideas discussed in the original TAF thread found here. http://www.forexfactory.com/showthread.php?t=57639

While some leeway is given for individual ideas and tastes in one's trade setups, the original intent is to stay away from indicator based and/or rigid entry-exit setups. Pure price action is the key here, and if your following the original thread.... "dancing with the market."

With that being said; Here you go...........this weeks most profitable bad trade.

Thursday's US/London overlap session, took the long off the bounce/false break and then tried to play god to the markets. While the day was profitable, I could have traded much better.

fwiw
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  • #2
  • Oct 31, 2009 5:32pm Oct 31, 2009 5:32pm
Cool im in.
  • #3
  • Oct 31, 2009 8:12pm Oct 31, 2009 8:12pm
Great I'm in too

have a good weekend to all
  • #4
  • Oct 31, 2009 9:13pm Oct 31, 2009 9:13pm
auxesis:

Thanks for sharing.
  • #5
  • Oct 31, 2009 9:26pm Oct 31, 2009 9:26pm
Thanks Auxesis, I will participate.
  • #6
  • Oct 31, 2009 10:00pm Oct 31, 2009 10:00pm
This is not the "trade of the week" for me, but was one from Friday during NY. It was on the E/$. The red candle next to the letter A was the trigger for the trade. I waited for a retracement (I cleared the chart of some of the tech stuff) and entered when the market showed some respect for a previous price level at 1.4805.

I have to admit that I trade with stops in mind. The lines for stop and limit are just representations of what was going on in my head as the trade got under way and as it was progressing. These levels were not entered into my trading station.

I took profit just ahead of the red line at .4732, which was a previous resistance in the last down move off the 1H chart. I did not want to try a re-entry after I was out of this trade, given the late time in the NY morning session on a Friday.

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  • #7
  • Nov 1, 2009 4:30am Nov 1, 2009 4:30am
Hello. I also enjoy this thread if i can... Thank you for sharing ideas. Regards. Fana
  • #8
  • Nov 1, 2009 7:12am Nov 1, 2009 7:12am
Auxesis,

Thank you for the new thread. I will be reading it and hopefully I will participate.


Regards

Andreas
  • #9
  • Nov 1, 2009 3:45pm Nov 1, 2009 3:45pm
Quoting auxesis
This thread is an off-thread discussion area to post and discuss trades based mainly upon the ideas discussed in the original TAF thread found here. http://www.forexfactory.com/showthread.php?t=57639

While some leeway is given for individual ideas and tastes in one's trade setups, the original intent is to stay away from indicator based and/or rigid entry-exit setups. Pure price action is the key here, and if your following the original thread.... "dancing with the market."

With that being said; Here you go...........this weeks...
Its good to make profit its aggrevating to realize you had so much more.
A problem I have more often than not.
  • #10
  • Nov 1, 2009 7:11pm Nov 1, 2009 7:11pm
Starting the week off with a mishap.
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  • #11
  • Nov 2, 2009 4:25am Nov 2, 2009 4:25am
Quoting auxesis
Starting the week off with a mishap.
auxesis : thank you for this new thread.
?... Your first entry... untill you had add the second portion... If prize continued to fall. Where and how would you save both positions? Thank you. Fana
  • #12
  • Nov 2, 2009 4:50am Nov 2, 2009 4:50am
Quoting Fana
auxesis : thank you for this new thread.
?... Your first entry... untill you had add the second portion... If prize continued to fall. Where and how would you save both positions? Thank you. Fana
Fana,

If price had continued south I would have had to make a decision either kill the position or attempt rescue from a deeper point ( probably much deeper if it would have taken out the double bottom/last weeks low).

In this case I probably would have just killed it.

I was watching the double bottom point at the opening when it got there, normally price doesn't break it on the first try. So I opted to try a long from the low as it stalled, and the fact that we were looking at opening the week with a visual gap. ( realize that folks look at the mt4 charts and think gap, when actually price has just moved in the Asian times before their charts open). Normally this type of price action fills itself / retraces after the open but it's not guaranteed.

I longed and at that point price spiked, and thank you Oanda for not filling me at the quote and slipping me some 30 odd pips, It tool almost 5 minutes to get back on line with them as I was shut out of my platform.

When price made a new higher high above last weeks close, I looked for a continuation.

If price had kept going south after that point I would have assumed the north action was just a wash and trap - thus the probable killing of the position.

Hope that answers your questions.

regards
  • #13
  • Nov 2, 2009 4:54am Nov 2, 2009 4:54am
Quoting auxesis
Fana,

If price had continued south I would have had to make a decision either kill the position or attempt rescue from a deeper point ( probably much deeper if it would have taken out the double bottom/last weeks low).

In this case I probably would have just killed it.

I was watching the double bottom point at the opening when it got there, normally price doesn't break it on the first try. So I opted to try a long from the low as it stalled, and the fact that we were looking at opening the week with a visual gap. ( realize that folks look...
Thank you auxesis, now it is clear for me...
  • #14
  • Nov 2, 2009 5:01am Nov 2, 2009 5:01am
Morning chaps

Good to see this new thread gaining momentum

G/U - deployed scout @63738 looking south.

Let's make some money, shall we ?

Best of luck and lots of pips during the week to all of you!

Cheers
  • #15
  • Nov 2, 2009 9:17am Nov 2, 2009 9:17am
When rescuing - Example : Good long break 1minTF. Go long... but after some 4-8pips it goes back and ... minus 5-8pips... I ofte close this here... and after i go 2X this positio (rescue), but ??? log again.... Because often i see, that it is easier to take retracement than go to reversed position... And it is not what sir fti teaches. It works for me, but should i leave it or not???
  • #16
  • Nov 2, 2009 10:19am Nov 2, 2009 10:19am
Quoting Fana
When rescuing - Example : Good long break 1minTF. Go long... but after some 4-8pips it goes back and ... minus 5-8pips... I ofte close this here... and after i go 2X this positio (rescue), but ??? log again.... Because often i see, that it is easier to take retracement than go to reversed position... And it is not what sir fti teaches. It works for me, but should i leave it or not???
Support/Resistance and key levels are often retested once broken, so if your entering on the break of one, you must expect price to back up to it before moving on (that's not a guarantee it will happen).

It's impossible for me to interpret your trade decisions with out a chart, but I would say you need to open your field of view and not concentrate on a 1 minute chart. A true rescue will be made when the current wave your stuck in finishes and you look to average out on it's retrace. That could take some time.
  • #17
  • Nov 2, 2009 5:30pm Nov 2, 2009 5:30pm
Quoting Fana
When rescuing - Example : Good long break 1minTF. Go long... but after some 4-8pips it goes back and ... minus 5-8pips... I ofte close this here... and after i go 2X this positio (rescue), but ??? log again.... Because often i see, that it is easier to take retracement than go to reversed position... And it is not what sir fti teaches. It works for me, but should i leave it or not???
Fana, it would be too difficult to answer your question without much more information on what you are doing. I recommend that you post a chart and we can provide qualified comments with your chart as reference. In addition, posting 1M charts without reference to a 5M/10M/1H chart is going to make commenting pretty difficult, too. Not sure why you are looking at 1M. IMO, S/R lines (and other analysis) on a 1M chart are easy for the market to ignore, whereas on a 1H or 4H they may be more significant.

Edit: Ooops, just saw auxesis's reply
  • #18
  • Nov 2, 2009 7:01pm Nov 2, 2009 7:01pm
TAF is one of my favorite thread. Thanks auxesis.

I'll subscribe for this thread.
  • #19
  • Nov 3, 2009 5:23am Nov 3, 2009 5:23am
Hi guys,

there's a nice impulse during to London session today. I already made a couple of trades. Here's the second setup on cable -it's still on as I'm writing this. Numbers indicate the "order of appearance".

Let's see where this is going to lead me.

Cheers
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  • #20
  • Nov 3, 2009 8:33am Nov 3, 2009 8:33am
Quoting Setebos
Hi guys,

there's a nice impulse during to London session today. I already made a couple of trades. Here's the second setup on cable -it's still on as I'm writing this. Numbers indicate the "order of appearance".

Let's see where this is going to lead me.

Cheers
i traded against this impulse i was lucky to cut it with very litlle profit for this afternoon. i should have waited until my flip.

trade well everyone and thank you auxesis for opening this thread

edit: very strange that this is a EUR/USD chart and in the window left,upside it says AUD/CAD.
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even with my eyes open i cannot see everything
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