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  • #21
  • Nov 3, 2009 11:07am Nov 3, 2009 11:07am
Hi Pax,

I closed the trades with a good profit not much after I posted my chart - had to go to work . On the other hand it accindetally happened to be good timing as I see now that the cable had made a reversal.

The EUR did quite a rally today, however I was already tuned on the cable so I didn't dare distract and open a position there as well.

The NY session had cancelled the London cable action from what I see now. Is it just me or there's a potential H&S forming on H1 cable?

EUR seems to be rady for another run, might be worth sending a scout to taste the water...

Edit: sorry for the double entry - the browser on my office PC went crazy
  • #22
  • Nov 3, 2009 11:07am Nov 3, 2009 11:07am
Hi Pax,

I closed the trades with a good profit not much after I posted my chart - had to go to work . On the other hand it accindetally happened to be good timing as I see now that the cable had made a reversal.

The EUR did quite a rally today, however I was already tuned on the cable so I didn't dare distract and open a position there as well.

The NY session had cancelled the London cable action from what I see now. Is it just me or there's a potential H&S forming on H1 cable?

EUR seems to be ready for another run, might be worth sending a scout to taste the water...
  • #23
  • Nov 3, 2009 11:52am Nov 3, 2009 11:52am
Quoting Setebos
Hi Pax,

I closed the trades with a good profit not much after I posted my chart - had to go to work . On the other hand it accindetally happened to be good timing as I see now that the cable had made a reversal.

The EUR did quite a rally today, however I was already tuned on the cable so I didn't dare distract and open a position there as well.

The NY session had cancelled the London cable action from what I see now. Is it just me or there's a potential H&S forming on H1 cable?

EUR seems to be ready for another run, might be worth sending...
hey setebos, this happened to me many times because i have to stop and go to work around NYopening and i see reversal when ia come back hope.

i will be checking out your charts... see how you manage trading with limitations (a JOB) as you can see iam exploring the 1 min tf.

iam realy REALY curious about lusan who said will start trading 15-5-1 TF.

and about the GU H&S. to me the high of 23-10 makes this no good pattern.

greetings, pax
even with my eyes open i cannot see everything
  • #24
  • Nov 3, 2009 1:02pm Nov 3, 2009 1:02pm
well I do go down to 1M chart every now and then - it all depends on the market conditions. Sometimes market feels so clearly structured that I go to 1M and manage the battle from there seeking to catch as much as I can. This is however only in some days. Most of the time I try to stay on the 5M chart and focus on a smaller number of trades. It's all variable. I noticed you do a large number of trades during the day - aren't you afraid you may overtrade ?
  • #25
  • Edited 1:53pm Nov 3, 2009 1:42pm | Edited 1:53pm
Quoting Setebos
well I do go down to 1M chart every now and then - it all depends on the market conditions. Sometimes market feels so clearly structured that I go to 1M and manage the battle from there seeking to catch as much as I can. This is however only in some days. Most of the time I try to stay on the 5M chart and focus on a smaller number of trades. It's all variable. I noticed you do a large number of trades during the day - aren't you afraid you may overtrade ?
i make many small trades because i do not want to be in at once and more important i want to take profit even more gradual.... the first entry 4x 20 trades could be 2x 50 or just 100. i pay more spread to my broker but i like to trade this way. i keep learning everyday so the market will teach if this is good for me or i was lucky for sometime and i am overtrading.

i want to note here that i cannot recommend this way of trading. i have a feeling it could work for me. for everyone who has the time (i don't have)and the stamina (wich i doubt i have) stick with the way fti teached so kindly.

thank you for your question i will keep it on my scorpions-watchlist
even with my eyes open i cannot see everything
  • #26
  • Nov 3, 2009 4:02pm Nov 3, 2009 4:02pm
Hi everyone, hope you all had a good day of trading. Thought I would post one of my trades from today. This one is on the $/CAD. Posting is of a 10M chart. Trend line from top of the run held up pretty good later in the run. FYI, the G/$ had been running north for a while before this got moving, so some extra confirmation there was nice, too. The red, blue and green lines are the trade and are for information purposes only.

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  • #27
  • Nov 3, 2009 4:11pm Nov 3, 2009 4:11pm
Quoting GEfx
Hi everyone, hope you all had a good day of trading. Thought I would post one of my trades from today. This one is on the $/CAD. Posting is of a 10M chart. Trend line from top of the run held up pretty good later in the run. FYI, the G/$ had been running north for a while before this got moving, so some extra confirmation there was nice, too. The red, blue and green lines are the trade and are for information purposes only.

Attachment
Hi GEfx,

congrats on the great trade

Do you use a fixed SL/TP ratio or is it according to the market conditions?

Cheers
  • #28
  • Nov 4, 2009 5:31am Nov 4, 2009 5:31am
Quoting Setebos
Hi GEfx,

congrats on the great trade

Do you use a fixed SL/TP ratio or is it according to the market conditions?

Cheers
Hi Setebos,
Nothing is fixed. It is best to remove rigid rules when in a trade.
  • #29
  • Edited 8:27am Nov 4, 2009 7:54am | Edited 8:27am
tday i looked at no other timeframe but 1 minute and this makes me even less TAW based. i did switch to 5 min. for a little rescue.
i looked only at 1 min. (experiment) because the higher the TF the more predictive i get and do not look wat is going on ATM.

how do you stay flexible when looking at many days of price action and all the levels and patterns? i say to myself look how price reacts to the levels but i keep trading with the trend at oversold levels (wrong)and when i think the trend oversold it is still strong.....

carefull with the US-data in 20 minutes.
edit: daylight savingstime seems to made the calender out of sync with my local time it was 40 minutes ago.
greets pax
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even with my eyes open i cannot see everything
  • #30
  • Nov 4, 2009 9:25am Nov 4, 2009 9:25am
Hi guys,

@pax - they way I keep an eye on the larger picture is actually through the 3 kingdoms screen FTI showed early in the thread - the three majors with their 5M, 1H and Day charts in rows on one screen. Once I choose where I want to place a trade I stay with the 5M full screen, switching to 1M from time to time for better structure view.

@GEfx - I thought so

I am introducing myself with new trading rule from today - never strart trading unless I have at least 1.5 hour to look after the trade. I didn't have the time to complete my rescue today and had to close on the negative side. Bugger!
  • #31
  • Nov 5, 2009 2:32pm Nov 5, 2009 2:32pm
just adding my comments so i can see updates on my profile..
  • #32
  • Nov 6, 2009 3:49am Nov 6, 2009 3:49am
Hey guys, mind sharing your skews and attack sequence as well ?
  • #33
  • Nov 6, 2009 8:32am Nov 6, 2009 8:32am
Taking a break for a moment waiting for the US session to open, interesting bias so far this morning, as I type $ is selling off against the Yen, while Pound and Euro seem to have bottomed and found some support since falling off after very bad US news this morning. Yen/$ relationship returning to normal?

Here's my quick dance on the euro after the break, some quick profits, but it did not follow through so am squared for the moment and watching .

fwiw,

Edit note:The 1 minute chart view was for recap purposes
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  • #34
  • Nov 6, 2009 10:27am Nov 6, 2009 10:27am
Quoting auxesis
Taking a break for a moment waiting for the US session to open, interesting bias so far this morning, as I type $ is selling off against the Yen, while Pound and Euro seem to have bottomed and found some support since falling off after very bad US news this morning. Yen/$ relationship returning to normal?

Here's my quick dance on the euro after the break, some quick profits, but it did not follow through so am squared for the moment and watching .

fwiw,

Edit note:The 1 minute chart view was for recap purposes
Auxesis : Those numbers are snowballs? Profits are taken where? Thank you
  • #35
  • Nov 6, 2009 10:33am Nov 6, 2009 10:33am
Quoting Fana
Auxesis : Those numbers are snowballs? Profits are taken where? Thank you
Fana,

either sold (-#) or bought (+#).... my bias was south initially, so started selling after the break and covered on the dips. Just follow the time line from the first sell.... the position of the entries and exits are close approximates, was trading off a 5 chart.

regards
  • #36
  • Nov 6, 2009 10:39am Nov 6, 2009 10:39am
Quoting auxesis
Fana,

either sold (-#) or bought (+#).... my bias was south initially, so started selling after the break and covered on the dips. Just follow the time line from the first sell.... the position of the entries and exits are close approximates, was trading off a 5 chart.

regards
5charts? So it is the matter of something like 3kingdoms? If so, how do you recognize, or.... better.. What correlation(what have to happend) is the signal...? Is it that for exaple, yen was behaving not normally.. So it is right to drive my trading EUR/USD due to Yen activity?? Regards
  • #37
  • Nov 6, 2009 10:54am Nov 6, 2009 10:54am
Quoting Fana
5charts? So it is the matter of something like 3kingdoms? If so, how do you recognize, or.... better.. What correlation(what have to happend) is the signal...? Is it that for exaple, yen was behaving not normally.. So it is right to drive my trading EUR/USD due to Yen activity?? Regards
Here's what was going on in my head......

Currency markets and the Stock markets have been very inner related lately i.e the $ carry trade fueling the stock and commodity markets) , although I believe that the correlation is starting to break down as CB's are starting to get involved to limit the $'s downside.

Yesterday we saw good news #'s and the Dow soaring yet the $'s fall was held in check, today was just the opposite, the news #'s were worse than expected ( realize it's how the actual # is compared to the expectation) as a result all 3k's fell rapidly the $ gaining on the Euro and Pound as the Dow fell.

Yen kept falling, Pound's retrace held below the break level for some time, euro lagged behind and then broke above, but the bias was south on all three initially, please take note that the $/Yen has been inverted, as in dollar weakness on the Euro or Pound has been dollar positive in the Yen relation and vis a vis. Some where in today's drop the inverse relationship broke down somewhat as the Dollar continued to weaken against all 3K's.

With the south bias I shorted the Euro as it pulled back my initial entry was early and added as the 3k's all continued south. I covered my early entry as price approached and took some off and tried to dance with about half of my original total not letting the remaining go into negative territory as to negate the earlier profits.

hope that clears it up.
  • #38
  • Nov 6, 2009 11:00am Nov 6, 2009 11:00am
Quoting auxesis
Here's what was going on in my head......

Currency markets and the Stock markets have been very inner related lately i.e the $ carry trade fueling the stock and commodity markets) , although I believe that the correlation is starting to break down as CB's are starting to get involved to limit the $'s downside.

Yesterday we saw good news #'s and the Dow soaring yet the $'s fall was held in check, today was just the opposite, the news #'s were worse than expected ( realize it's how the actual # is compared to the expectation) as a result all 3k's...
Very informative....thanks for sharring. regards
  • #39
  • Edited 3:13pm Nov 8, 2009 2:50pm | Edited 3:13pm
Keeping a pulse on the e/u trend.
e/u monthly
1.5118
1.4609
1.4100
last weeks weekly time frame
weekly
5012-27
4754
4625
e/u started new monthly time frame looking for support and found it last week as she hit an area of interest (weekly lows 4625) and moved up out of the monthly 4609 area, also up from 4754 .

looking at this week I have to say my bias with the trend up from 1.4829, however we'll start with the 5-15min.,1hr,4hr first.
1.5063-78
4829
4626
  • #40
  • Nov 8, 2009 3:55pm Nov 8, 2009 3:55pm
At the moment we have moved prior to the open to the upper level of last weeks closing range. All trips into the 1.49 were knocked back down. It would not surprise me to see movement above the highs, but it would have to move well above the 4950/60ish before I trusted it. Below 4800 for any south bias outside of fading the range boundries.

Looks like continued range for the moment, and luring quick spikes will appear probably before any sustained move, I'd say watch the 3k's it should show up on all three if it's real
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