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Silent Service Method

  • #5,861
  • Nov 22, 2009 7:32am Nov 22, 2009 7:32am
Quoting The Lord
Hey clockwork, I am finished reading half of this thread and now I think I could have saved a lot of hard work if only I had struck on this thread earlier.

I learnt few things from James16, and took each and every pinbars. I still lost heavily. Then I refined it to take only the pins in the direction of the trend only on S/R. I managed at least remain at break even this way. A year later I started taking double tops & triple tops breakouts with the trend. This way, I have recently managed 10 to 15 percent gain each month (on DEMO. I have never...
Thanks.....that means a lot. Let me know if I can be of any help.

Chris
  • #5,862
  • Nov 22, 2009 2:58pm Nov 22, 2009 2:58pm
Anyone else have this up on their charts? I would like for it to retest the triple/quadruple top it has formed with some good price action. Then follow through by breaking to the downside of the triangle.

http://i45.tinypic.com/aubk7r.gif
  • #5,863
  • Nov 22, 2009 7:59pm Nov 22, 2009 7:59pm
Quoting nebuman213
Anyone else have this up on their charts? I would like for it to retest the triple/quadruple top it has formed with some good price action. Then follow through by breaking to the downside of the triangle.

http://i45.tinypic.com/aubk7r.gif

Actually, yes....I have it as well, although my chart is of the weekly variety - but it shows the same exact thing.
  • #5,864
  • Nov 23, 2009 7:05am Nov 23, 2009 7:05am
Jst an update on my gbpchf....locked in some 140pips.....and will just let this take me out of continue in my direction........

I see Minor suport on the white area and hope it can break this...then we off...i still have a bearish bais.....cheers
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  • #5,865
  • Nov 23, 2009 7:23am Nov 23, 2009 7:23am
Did anyone scalp the AU for 100 pips? There was a great pin bar @ support on the hourly chart.
  • #5,866
  • Nov 23, 2009 9:15am Nov 23, 2009 9:15am
Quoting Danku
Jst an update on my gbpchf....locked in some 140pips.....and will just let this take me out of continue in my direction........

I see Minor suport on the white area and hope it can break this...then we off...i still have a bearish bais.....cheers

conrgats on the trade Danku!
  • #5,867
  • Nov 23, 2009 9:16am Nov 23, 2009 9:16am
Quoting wh1zz0
Did anyone scalp the AU for 100 pips? There was a great pin bar @ support on the hourly chart.
We are breaking up from a bullish daily pin on the IBFX feed as well.....I have been crazy busy over the last 24-26 hours, so I missed it, but certainly a good trade either way.
  • #5,868
  • Nov 23, 2009 9:19am Nov 23, 2009 9:19am
Missed the Aussie....but got into silver.
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  • #5,869
  • Nov 23, 2009 9:43am Nov 23, 2009 9:43am
Quoting wh1zz0
Did anyone scalp the AU for 100 pips? There was a great pin bar @ support on the hourly chart.
I have been all day, easy play off the 90 area...

wild moves in gold and oil in the past few mins, could have made your week within 10minutes... ahhh ive been awake 20hrs now and still in the office

with pound coming off 1.6650, EURUSD not even able to touch 1.50 (got to 149.99) and S&P touching recent highs, ill be scalping/short term trading to the south side...

Gold at record highs at 173.5 tonight, took a quick short on this before for $3, wow talk about neve racking going against that juggernaut.
Grabbing the bull by the horns!
  • #5,870
  • Nov 23, 2009 9:47am Nov 23, 2009 9:47am
Nice one guys but I missed it ..LOL

But I was short GBP/CHF from Friday (closed the trade this morning). The AU was a nice 1 no doubt gold would have done better.
  • #5,871
  • Nov 23, 2009 9:57am Nov 23, 2009 9:57am
Quoting wh1zz0
Nice one guys but I missed it ..LOL

But I was short GBP/CHF from Friday (closed the trade this morning). The AU was a nice 1 no doubt gold would have done better.
oh well, always tomorrow, I have a downside bias in the short to mid term however until I see EURUSD and S&P break resistance
Grabbing the bull by the horns!
  • #5,872
  • Nov 23, 2009 10:19am Nov 23, 2009 10:19am
Quoting whitegoodman
oh well, always tomorrow, I have a downside bias in the short to mid term however until I see EURUSD and S&P break resistance
Yeah.....I find it interesting that Euro can't break 1.50, no matter how hard it tries at the moment.
  • #5,873
  • Nov 23, 2009 10:50am Nov 23, 2009 10:50am
Quoting whitegoodman
oh well, always tomorrow, I have a downside bias in the short to mid term however until I see EURUSD and S&P break resistance

Yea. In fact, this is the major problem I have with charts less than dailies. I like to take trades off H4 & H1 but I have to be constantly on the lookout. I tend to miss them completely when I've got loads to do. Even when I get alerts on my mobile, the moves are over before I get to the computer.. Funny stuff.

Yo clock, greetings!!
  • #5,874
  • Nov 23, 2009 12:12pm Nov 23, 2009 12:12pm
Does anyone know of any mobile or email alerts that tell you when a certain bar formation has formed on a pair on a daily or 4hr chart?
  • #5,875
  • Nov 23, 2009 12:28pm Nov 23, 2009 12:28pm
That silver is a cruel mistress. I took the same long as you CW, for the same reasons. Just got bumped out at BE. Stupid treasury auctions....
  • #5,876
  • Nov 23, 2009 12:36pm Nov 23, 2009 12:36pm
Quoting nebuman213
Does anyone know of any mobile or email alerts that tell you when a certain bar formation has formed on a pair on a daily or 4hr chart?
I've read about people who have tried, but it didn't succeed. It's somewhere in this thread.
http://www.trade2win.com/boards/firs...y-trading.html

The work was initiated by a member named lurkerlurker, maybe there is some new info or links to others who are trying. Also some of the scanners look for PA, but probably only the paid services will alert your phone, and sometimes you have to tweak with their definitions to filter out the garbage. Cheelu has done some work on this with stockfetcher, you could try asking him.
  • #5,877
  • Nov 23, 2009 12:40pm Nov 23, 2009 12:40pm
I found the pin-bar-alert-thread, but it goes dormant around 2007. It's a place to start though.

http://www.trade2win.com/boards/trad...ar-alerts.html
  • #5,878
  • Nov 23, 2009 2:32pm Nov 23, 2009 2:32pm
While we're on the topic of 3rd party services that could be useful, I'll just post up a link to a site I recently (re)discovered this weekend and found absolutely fascinating. https://www.myfxbook.com

Basically it'll analyze your account and give you some pretty interesting analytics about your trading. What currencies have you traded, how many pips did you make in each currency, pips made while long, while short, total, average holding time broken down by currency, monthly returns, acct balance fluctuations, cumulative returns, and a ton of other things. I was actually quite surprised by some of the findings.

It can import all your history from pretty much any MT4 broker and Oanda (For instance, it was able to download my Oanda account going back to when i first opened it in 2004). It will accept either Demo or live accounts and you can keep the data private, or share your performance, current trades, historical trades, etc with anyone you want.

Anyway, a very interesting tool and quite useful. I found out that I don't trade the GBP/USD very well but have made a decent amount of money with the EUR/USD....
  • #5,879
  • Nov 23, 2009 3:13pm Nov 23, 2009 3:13pm
Hi guys, been away from this thread for a while, traded just a little, tested some grid/hedge ea looking for a solid 2% return on daily basis and guess what?
back to good old s/r, thanks also to the danUK journal, I grabbed a bit from his method that make me comfortable trading on the 1h chart opening "scalp" positions of about 80 to 100 pips

in the end if you look at what is really profitable you'll found basically the same stuff over and over: s/r, trendline, price action, fibs, round numbers
not rocket science for sure

and chris is absolutely right when speaks about comfort, not just for the position size but also for the approach you have when trading, everything it's ok as long as you can rationally explain why you're taking the trade and what are you're expectations
  • #5,880
  • Nov 23, 2009 3:25pm Nov 23, 2009 3:25pm
Quoting ttteee
opening "scalp" positions of about 80 to 100 pips
I've been doing more of that than I prefer too, intraday no less, but in the end, there seems a lot of hesitancy in regards to my charts (except gold and silver), so I'm trying to take whatever it gives me before it changes it's mind.

But no EA's for me, or daily targets.
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