Petefaders Journal & Open Discussions

I ended up closing the E/J at +35, was just a scalp. The E/U I'm still in..down a few pips..I need to lock BE on this before news!

great...

Buy LOW, Sell HIGH. Forget about the "Trend" unless you are trading for 500 pips at a time on the daily charts.

What causes a trend?

UP: Smart money has already bought LOW, and are marking the price up for more profit...and how attractive that looks to buy..but your too late. They are not buying anymore..at least not like they did at the bottom.

They are more interested in where they will DUMP their longs, start SELLING, and KILL your weak position.


Trends will retrace, trends will reverse, but this will never change.

Look at the reversal from fridays BS sell off in NY, based on news.
"Wow, what a drop" they say.."100 pips in an hour, it must be a down trend, I will go short now" TOO LATE.

News moves are BS, just an oppotunity to push price around. So they pushed it down 80 pips, 150 pips, whatever...so what comes next?? ..Come on you know it???

They bought low!

http://forums.babypips.com/images/misc/progress.gif

I dont think brokers have any obligation to offer us a certain price, just by the fact that they all vary, and at times will vary to extremes.

Remeber, forex volume is based on ticks, and ticks (price) differs between brokers. I dont think there is ANY connection between offered price, and the positions taken by the traders who use that broker, unless they are hunting stops.

With no central exchange, the price is set by the broker.

One example is FXSolutions, which I have traded live with. Their prices are "smoothed", meaning...when fxcm moves up 5 ticks, and down 2, many times you will just see fxsolutions just move up 3..and a few seconds late. Therefore, the volume feed SUCKS.

The brokers with good volume feeds, are probably just offering us something more similar to the rates THEY are actually getting.

I dont claim to be an expert on how brokers work, I'm just stating the obvious based on what I have seen, and I'm open to hearing any views you guys might have on this.

BTW, I use SpotTrader, and ODL for volume.

Just took this g/u short. This 4hr is nice and simple.

Also volume confimed sellers on 15 min with hi volume pin bars at R1.


http://i38.tinypic.com/29dtyq0.gif

Well, I ate 35 pips on that G/U..can't win em all.

Was a profitable week for me. Others in my trade room did insanely well..
"They were once but the learners, now they are the masters".

9 winning scalps today..INSANE scalping PA!!

I made this video to show an indicator that I'm using. I found a service selling basically the same thing for $1,100.

http://www.youtube.com/watch?v=nBKKDrKwENY

I took this trade..

http://i47.tinypic.com/bvuwn.gif

Here's 2 E/U short entries that were confirmed by scalp method today.

I didnt take the first because vlm was low, and its was a slow time of day. I got the second one..waited for the break of daily pivot. Risking 1% with a 15 pip SL on E/U lately..so a few scalps a day gives a nice percentage return.


http://i50.tinypic.com/2qlvkoh.jpg

This was pure VSA and S/R, no indicator to confirm. Still, I didnt not expect all that so fast.

This pic was given to me by a member in my chat..

http://i48.tinypic.com/300435w.jpg

We shorted at 144.36 as price broke S2 and all rules confirmed.

http://i48.tinypic.com/2556xbo.gif

Another perfect VSA setup today on GJ +65.

http://i48.tinypic.com/5bshnr.gif

Hey Pete,

I sent you an email a while back and heard nothing back. Just curious, when are you going to update the performance page on your site?

Thanks bro...

Hey Pete,

I sent you an email a while back and heard nothing back. Just curious, when are you going to update the performance page on your site?

Thanks bro...

Hey, Clashman. I actually don't update the pip count on the website anymore. I think many services fudge the numbers anyway, so I wouldn't consider it real proof of anything if you are looking for a service to join. As long as my subscribers are happy and making pips AND learning to trade on their own through my teaching, then I'm happy. Good luck to you.

I just wanted to make a post about UKdaytrader. He posts in the auslanco gj thread. This guy knows how to read the market, end of story.

..but too humble to admit it.

P.S. I like his "No Kaboom" post for GJ, back on Dec. 1.
I wanted to post No Kaboom in there so badly, lol. ..props.

It's time for e/u to finally bounce, says VSA.

I'm long at 1.4311. I might have leave it over the weekend..something I rarely do.

http://i45.tinypic.com/28ksshg.gif

I just took off 1/3 of my position at +32, and locked the rest at break even..no more risk. I'll let this run now.