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Silent Service Method

  • #6,221
  • Dec 13, 2009 12:11pm Dec 13, 2009 12:11pm
Quoting calderone
I saw this as well. A tricky time of year so I'm not going to get too bent if it doesn't come off.

One strange thing about that chart is that you can see a lot of pinbars, NOT at swing highs/low. In fact most (except the most recent high) swing H/L's give little indication of turning. I also remember getting hosed by two bearish pinbars a couple of days apart a few months back....they looked SO perfect. This would be a good pair to "enter on the break of the bar" just so it has a chance to prove to you that it wants to go your way.
  • #6,222
  • Dec 13, 2009 12:20pm Dec 13, 2009 12:20pm
Quoting Low
One strange thing about that chart is that you can see a lot of pinbars, NOT at swing highs/low. In fact most (except the most recent high) swing H/L's give little indication of turning. I also remember getting hosed by two bearish pinbars a couple of days apart a few months back....they looked SO perfect. This would be a good pair to "enter on the break of the bar" just so it has a chance to prove to you that it wants to go your way.
Thanks for the feedback. The shadows on the candles told me there was volatility and that is a big warning sign to me. There are a few pairs that are like this-I also don't usually trade this pair so I have little to no experience with it. The next candle could very easily be a stinker.

I was thinking of placing an order around 50% of the bar to lessen the sl, I think it could get triggered based on the other candles. Hmmm.
  • #6,223
  • Dec 13, 2009 12:30pm Dec 13, 2009 12:30pm
Chris
I Sent you a PM .
Thank u
samer
  • #6,224
  • Dec 13, 2009 7:39pm Dec 13, 2009 7:39pm
Quoting calderone
Thanks for the feedback. The shadows on the candles told me there was volatility and that is a big warning sign to me. There are a few pairs that are like this-I also don't usually trade this pair so I have little to no experience with it. The next candle could very easily be a stinker.

I was thinking of placing an order around 50% of the bar to lessen the sl, I think it could get triggered based on the other candles. Hmmm.
calderone,

Just for giggles, I have put a buy-stop on the eurcad(demo), on the break of the pin, if I really wanted it, I would normally just jump right in at market, so this is kind of practice.

And for CW,

Have you ever tried OCO bracket orders above and below pins, since the failure of a pin also "tells us something"?
  • #6,225
  • Dec 13, 2009 7:45pm Dec 13, 2009 7:45pm
Quoting Low
calderone,

Just for giggles, I have put a buy-stop on the eurcad(demo), on the break of the pin, if I really wanted it, I would normally just jump right in at market, so this is kind of practice.

And for CW,

Have you ever tried OCO bracket orders above and below pins, since the failure of a pin also "tells us something"?
One of my buddies scolded me for playing with my demo that way. I felt like my mom caught me. lol I told him I was playing it seriously.

On ej, I was trying to do a sell limit at 50% of the daily candle, price missed it by 7 pips. I am just staring at it now. lol
  • #6,226
  • Dec 13, 2009 8:13pm Dec 13, 2009 8:13pm
Quoting calderone
One of my buddies scolded me for playing with my demo that way. I felt like my mom caught me. lol I told him I was playing it seriously.

On ej, I was trying to do a sell limit at 50% of the daily candle, price missed it by 7 pips. I am just staring at it now. lol
Maybe I should take it "more seriously".
More food for thought.
  • #6,227
  • Dec 13, 2009 8:36pm Dec 13, 2009 8:36pm
Quoting Low
Maybe I should take it "more seriously".
More food for thought.
I can't help but enjoy this, I'm seriously enjoying it.
  • #6,228
  • Dec 13, 2009 10:17pm Dec 13, 2009 10:17pm
Quoting Low
calderone,

Just for giggles, I have put a buy-stop on the eurcad(demo), on the break of the pin, if I really wanted it, I would normally just jump right in at market, so this is kind of practice.

And for CW,

Have you ever tried OCO bracket orders above and below pins, since the failure of a pin also "tells us something"?
No I haven't, but believe it or not - I would have no issues with you doing that. As long as it was OCO.....all would still be the same.

Chris
  • #6,229
  • Dec 13, 2009 11:03pm Dec 13, 2009 11:03pm
Hi guys,

I highly recommend that you check this out

Good tool for professional testing.

Cheers

Update on my gold trade: I'm still short gold from the daily pin bar and might hold on further as I see more momentum plus a BEOB on the daily chart (plus nice weekly pin bar telling me to stay in as next area of trouble is around 1050). I'm managing this trade from the daily so keeping an eye on the blue boxed areas as well, currently sits on 38.2 fib fan extension. Looking good though. In addition I think clockwork has a point too about end of year profit taking by firms... Well let's see as this may be my last trade for the year (good pips locked in, so free ride).

Attached Image (click to enlarge)
Click to Enlarge Name: gold trade.gif Size: 18 KB
  • #6,230
  • Dec 13, 2009 11:31pm Dec 13, 2009 11:31pm
Quoting wh1zz0
Hi guys,

I highly recommend that you check this out

Good tool for professional testing.

Cheers

Update on my gold trade: I'm still short gold from the daily pin bar and might hold on further as I see more momentum plus a BEOB on the daily chart (plus nice weekly pin bar telling me to stay in as next area of trouble is around 1050). I'm managing this trade from the daily so keeping an eye on the blue boxed areas as well, currently sits on 38.2 fib fan extension. Looking good though. In addition I think...
Great trade. And I actually have Forex Tester, the first version. I thought it was great.

Chris
  • #6,231
  • Dec 13, 2009 11:46pm Dec 13, 2009 11:46pm
Quoting clockwork71
Great trade. And I actually have Forex Tester, the first version. I thought it was great.

Chris

Aww cool!!! I guess that goes to show you how backward I am when it comes to some of these tools because I never knew something like it even existed. Kept on using fake OL' MT4 tester before now. LOL.. This saves a lot of time.. Thanks for the comments Chris.
  • #6,232
  • Dec 14, 2009 3:26am Dec 14, 2009 3:26am
nice trade , did u book some profit , or planing to do so if it reach 1100 .
regards

Quoting wh1zz0
Hi guys,

I highly recommend that you check this out

Good tool for professional testing.

Cheers

Update on my gold trade: I'm still short gold from the daily pin bar and might hold on further as I see more momentum plus a BEOB on the daily chart (plus nice weekly pin bar telling me to stay in as next area of trouble is around 1050). I'm managing this trade from the daily so keeping an eye on the blue boxed areas as well, currently sits on 38.2 fib fan extension. Looking good though. In addition...
  • #6,233
  • Dec 14, 2009 6:15am Dec 14, 2009 6:15am
Now a risk free trade.......S/L moved to breakeven.....if we can clear the 1.5600 round number, i plan to lock in some 55pips........

Let us see how this works out. Cheers

Quoting Danku
Noticed this pair on Friday close and i am waiting for market open to jump in as all lights look green according to me analysis.

Daily Chart

Nice PB at Swing Low, good round number 1.5000 and support

4-hr Chart

Nice 2-day PB at Swing Low, good round number 1.5000, support and MACD Divergence...............

Hope to ride this for the week....but time will tell...with Christmas and Oil, you never know.

Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad (4-hr).gif Size: 19 KB
  • #6,234
  • Dec 14, 2009 7:44am Dec 14, 2009 7:44am
Quoting Danku
Now a risk free trade.......S/L moved to breakeven.....if we can clear the 1.5600 round number, i plan to lock in some 55pips........

Let us see how this works out. Cheers
Yes, this has turned out to be better than I expected. The e/j trade turned out to be the underperformer.

Good job!
  • #6,235
  • Dec 14, 2009 9:19am Dec 14, 2009 9:19am
GBP/CHF short flag on 4 hour.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchfflag.png Size: 38 KB
  • #6,236
  • Dec 14, 2009 9:30am Dec 14, 2009 9:30am
Well, damn....EUR/USD clipped me out at 1.4660 over night. Now I ma still looking to short it, maybe on a bounce, or perhaps a break through the 1.46 handle. We will see.
  • #6,237
  • Edited 11:49am Dec 14, 2009 11:21am | Edited 11:49am
Quoting samer960
nice trade , did u book some profit , or planing to do so if it reach 1100 .
regards

Oh okay not taken anything off yet.. But have locked in a good amount of pips. Still have my 3% in that trade. I would like to take something off around 1050 level. Else I'd like the market to take me out completely for profit.
  • #6,238
  • Dec 14, 2009 12:50pm Dec 14, 2009 12:50pm
i wanted to find out what the views of everyone here especially the experienced members, Chris, Low, WGM etc etc, you know yourselves.

Ever since i started on the 4-hr and then the Daily my trading has improved quite abit and am now past breakeven....i have been doing some analysis over the past month or so and tested my analysis on demo and it seems to work quite well and i thought i get views here.

Today is a very good example of what i want to describe below.......i have noted when i get a Daily setup off S/R and target 106pips.....8 out of 10, my T/P will get hit within the day but on the 4-hr...when i target 87pips, my T/P gets hit again within the day but when i change and start looking for major moves, i always end up at B/E like my today's EURCAD trade......i watched this baby move 112pips in my direction only for it to get me taken out at B/E....what do you guys think of setting pip targets based on a number of pips or next S/R depending on which is lower taking into account the ADR for that particular pair.........sorry Chris i know this off this thread method but just looking for some help....................cheers
  • #6,239
  • Dec 14, 2009 1:30pm Dec 14, 2009 1:30pm
Quoting Danku
i wanted to find out what the views of everyone here especially the experienced members, Chris, Low, WGM etc etc, you know yourselves.

Ever since i started on the 4-hr and then the Daily my trading has improved quite abit and am now past breakeven....i have been doing some analysis over the past month or so and tested my analysis on demo and it seems to work quite well and i thought i get views here.

Today is a very good example of what i want to describe below.......i have noted when i get a Daily setup off S/R and target 106pips.....8 out...
I'd like to get Chris's take on this as well.

Don't be frustrated. My trades have been in and out of profit just like yours (ej, eucad). This is a nasty time of year to be trading and I didn't give my hopes up. Hang in there, you're in the right thread.
  • #6,240
  • Dec 14, 2009 1:44pm Dec 14, 2009 1:44pm
Quoting Danku
i wanted to find out what the views of everyone here especially the experienced members, Chris, Low, WGM etc etc, you know yourselves.

Ever since i started on the 4-hr and then the Daily my trading has improved quite abit and am now past breakeven....i have been doing some analysis over the past month or so and tested my analysis on demo and it seems to work quite well and i thought i get views here.

Today is a very good example of what i want to describe below.......i have noted when i get a Daily setup off S/R and target 106pips.....8 out of...

If I were to do either - it would be based on S/R, mainly because that's what I will often do with counter-trend trades anyways. Remember, the market doesn't care if you are 50 pips to the good - so picking a random number won't help. The next S/R area? Well that is certainly something the market does care about.

Chris
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