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  • #172,921
  • Dec 16, 2009 5:36pm Dec 16, 2009 5:36pm
Funny you should use a 2 bar breach...I do the same on my trend trades...two bar breaches typically show you reversals....I learned it from John Person's Pivot Trigger guide...it works well and is an excellent way to read price action...


Quoting tonyo524
Now I can post a chart.

If this moving average is breached by 2 consecutive bars, I am looking at long for the Asian session. If it bounces, i am applying a short hedge till the 4505 area.
In Charts We Trust!
  • #172,922
  • Dec 16, 2009 5:36pm Dec 16, 2009 5:36pm
Quoting surya2k
Then, in near future China govt. who has large number of reserve USD (more than 2.3 trillion) willing to diversify it's portfolio buy buying Gold and EUR.
Exactly those Guys crying to get out.. They all stuck in Dollar mud forever.
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  • #172,923
  • Dec 16, 2009 5:40pm Dec 16, 2009 5:40pm
I started out the week great, but horrible week this week....-82 pips on my swing account and made $1.02 on my hedge! LOL!

But up for the month on my swings though...2,318 pips all using .01 lots LOL! that amounts to a giant $23.18!! .01 = 1 pip
In Charts We Trust!
  • #172,924
  • Dec 16, 2009 5:44pm Dec 16, 2009 5:44pm
Quoting 2+2=4ex
So ask yourself, what advantage do you have in having so many simultaneous open hedged positions? Answer: None.
That's what advantages are: till you realize it's uptrend or whatever, till stupid

MACD goes above 0, or Crazy RSI above 55, you going to be looking at

1.4850 EURO minimum on 4H TF and probably above 1.49 on Daily TF LOL. Till those Indies actually turn LONG, it's already time to

get out with huge profit... That's why people trying to actually grab the bottom

and hedge! And it's totally reasonable.
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #172,925
  • Dec 16, 2009 5:45pm Dec 16, 2009 5:45pm
Quoting 2+2=4ex
Do you have hedged positions open within the same currency and same broker? I know for some people it helps them deal with their losing positions better by doing this, but you aren't doing yourself any favors, especially if you are incurring swap charges. If you took each open buy order and canceled it out with an open sell order (paired), your equity balance (unrealized) would be the same. So ask yourself, what advantage do you have in having so many simultaneous open hedged positions? Answer: None.

I have found that success in this comes from...
Doesn't mean that it is a bad method, or that it doesn't work for everyone. It works for me, and it works for the big banks!
All that is left in FF is just plain garbage. "Cloggie"
  • #172,926
  • Dec 16, 2009 5:47pm Dec 16, 2009 5:47pm
Quoting SkyzerFX
That's what advantages are: till you realize it's uptrend or whatever, till stupid

MACD goes above 0, or Crazy RSI above 55, you going to be looking at

1.4850 EURO minimum on 1H and probably above 1.49 on Daily TF LOL. Till those Indies actually turn LONG, it's already time to

get out with huge profit... That's why people trying to actually grab the bottom

and hedge! And it's totally reasonable.
Added to the fact that I am able to grab guaranteed pips, that are used to offset the drawdown time!http://cdn.forexfactory.com/images/icons/icon6.gif
The secret is knowing how to get out. Actually it's easy. close that mofo at the next support or resistance.
All that is left in FF is just plain garbage. "Cloggie"
  • #172,927
  • Dec 16, 2009 5:48pm Dec 16, 2009 5:48pm
Does anyone else get the feeling this level is going to induce some fairly substantial reactivity?
Pity the fool who thinks they'll make it overnight...
  • #172,928
  • Dec 16, 2009 5:48pm Dec 16, 2009 5:48pm
Quoting SkyzerFX
Exactly those Guys crying to get out.. They all stuck in Dollar mud forever.

they arent crying to get out because they wouldnt have gotten in, in the first place, but they are gonna do something about it in the near future....the chinese knew exactly what they were doing and still do....
  • #172,929
  • Dec 16, 2009 5:50pm Dec 16, 2009 5:50pm
Quoting X.Oden
Funny you should use a 2 bar breach...I do the same on my trend trades...two bar breaches typically show you reversals....I learned it from John Person's Pivot Trigger guide...it works well and is an excellent way to read price action...

2 to 3 bars helps me to determine if it's a fake out or the real deal. I use my moving average as a trend line, and watch the s/r levels.
All that is left in FF is just plain garbage. "Cloggie"
  • #172,930
  • Dec 16, 2009 5:51pm Dec 16, 2009 5:51pm
Tonyo, what's your hedge against EURUSD, - USDCHF?

Seems that is closely related pair lately. Then goes AUDUSD..

What's is your secret hedges in terms of EURUSD decline in

our example?

Thanks.
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  • #172,931
  • Dec 16, 2009 5:52pm Dec 16, 2009 5:52pm
Quoting mfoste1
they arent crying to get out because they wouldnt have gotten in, in the first place, but they are gonna do something about it in the near future....the chinese knew exactly what they were doing and still do....
Has it that the Chinese are the ones who have been providing the strong support down there at the 4500ish area. I'm a little confused thouigh. A month ago the Chinese were crying about a weak dollar, so why would they be hindering it's progress?
All that is left in FF is just plain garbage. "Cloggie"
  • #172,932
  • Dec 16, 2009 5:53pm Dec 16, 2009 5:53pm
Quoting SkyzerFX
Tonyo, what's your hedge against EURUSD, - USDCHF?

Seems that is closely related pair lately. Then goes AUDUSD..

What's is your secret hedges in terms of EURUSD decline in

our example?

Thanks.

Using same pair.
All that is left in FF is just plain garbage. "Cloggie"
  • #172,933
  • Dec 16, 2009 5:56pm Dec 16, 2009 5:56pm
Quoting mfoste1
the chinese knew exactly what they were doing and still do....
Somewhat Agreed. Now they are building Huge (record)

bridge like 30+ miles long

and very nice roads, all those Materials and other commodities were stocked

at cheap prices using $USD,

during 2008 crisis and commodities sell-off. Smart move..
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  • #172,934
  • Dec 16, 2009 5:58pm Dec 16, 2009 5:58pm
I watch these other charts to to kind of get a feel for the strength of the move. S and P futures, eu rides real close to that 90% of the time. oil also runs parallel to eu and gold.
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All that is left in FF is just plain garbage. "Cloggie"
  • #172,935
  • Dec 16, 2009 5:59pm Dec 16, 2009 5:59pm
Quoting tonyo524
Using same pair.
Well that's the best technique, I cannot do that using US broker
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  • #172,936
  • Dec 16, 2009 6:00pm Dec 16, 2009 6:00pm
Quoting SkyzerFX
That's what advantages are: till you realize it's uptrend or whatever, till stupid

MACD goes above 0, or Crazy RSI above 55, you going to be looking at

1.4850 EURO minimum on 1H and probably above 1.49 on Daily TF LOL. Till those Indies actually turn LONG, it's already time to

get out with huge profit... That's why people trying to actually grab the bottom

and hedge! And it's totally reasonable.
till stupid??? LOL

We could probably go back and forth on this all day. I'll be the first to tell you that I used to hedge within the same currency (and did so for awhile) without using stop loss. No longer do I trade that way and I would never do so again! I have found it more profitable to trade one direction, set your tp and sl reasonably and accordingly to chart. Make your trade and walk away. Only adjustment I may make during a trade is to the stop loss, if and only if I am 2/3 of the way to my tp.

I'm not going to tell you I consulted a wise man in Tibet who is worth $1.2B, but I have been succesful doing it this way.
  • #172,937
  • Dec 16, 2009 6:01pm Dec 16, 2009 6:01pm
As we all known that Fed reserve has already kept their interest rate intact for next few quarters to see economy improvement. Believe, this won't allow EUR/USD fall further at least for carryforward trades.

The only concern about EUR is it's fellow coutries who are part of the union are in trouble. Like, bloomberg predicitng in near future Portugal, Italy, and Austria could face cut their investement ratings followed by Greece, and Spain sovergein fund, which could severe damage to EUR. I have bought 2 long at 1.4521 with stoploss at 1.4454 then hedge with one short 1.4532 with stoploss at 1.4626.
  • #172,938
  • Dec 16, 2009 6:01pm Dec 16, 2009 6:01pm
Quoting tonyo524
Has it that the Chinese are the ones who have been providing the strong support down there at the 4500ish area. I'm a little confused thouigh. A month ago the Chinese were crying about a weak dollar, so why would they be hindering it's progress?


Yea i dunno about validity of those site claims but anyways....the chinese literally have control over the USD if they wanted to flex their muscles, there is no question there. If anyone thinks that they are going to let their multi trillion dollar portfolio they have invested in US debt be devalued any more, they are badly mistaken. Even the EZ is getting pissed because no one is buying their goods anymore because euro is so expensive....its hurting their trade. All one has to do is put the pieces of the puzzle together....
  • #172,939
  • Dec 16, 2009 6:02pm Dec 16, 2009 6:02pm
Quoting tonyo524
Added to the fact that I am able to grab guaranteed pips, that are used to offset the drawdown time!http://cdn.forexfactory.com/images/icons/icon6.gif
The secret is knowing how to get out. Actually it's easy. close that mofo at the next support or resistance.
If you know when to get out of hedged trades because of support or resistances, then why not just trade without hedging and get out at the same supports/resistances?
  • #172,940
  • Dec 16, 2009 6:07pm Dec 16, 2009 6:07pm
Missed the party by 5 pips .
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