Islander and Medici trade the European open | Page 9 | Forex Factory

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Islander and Medici trade the European open

  • #161
  • Jan 11, 2010 8:22am Jan 11, 2010 8:22am
Quoting medici
I do not disagree with anything of what you are saying, and maybe I am the one who should apologise for expressing myself in a way that could be taken as personal criticism or criticism of other approaches to trading or other perspectives on the market. For that I do apologise.

And I meant it literally when I said that I "don't understand" the timing of the shorts entered early this morning. So if I could learn about that or how to achieve risk-reward ratios of 10 or more I'd be grateful for that and for any contributions you may wish to make...
All good, we both misunderstood one another.

I'll post some thoughts when the trading session is over, see you then
  • #162
  • Jan 11, 2010 8:25am Jan 11, 2010 8:25am
Quoting Islander
Thanks.....regarding a template, I haven't yet saved one for either TF and as I currently have annotations and other stuff on my charts, I cant at present do so.

My settings have already been posted and if you need an indicator, just ask.

Cheers.....
I need just the pivot indicator on your charts. None of the ones I have (and I have a lot of them) show the levels with as large a font as yours.
Thanks...
  • #163
  • Jan 11, 2010 8:26am Jan 11, 2010 8:26am
Quoting okfx
I need just the pivot indicator on your charts. None of the ones I have (and I have a lot of them) show the levels with as large a font as yours.
Thanks...
The pivot indicator can be found here:

http://www.forexfactory.com/showpost...4&postcount=86
  • #164
  • Jan 11, 2010 8:35am Jan 11, 2010 8:35am
Quoting okfx
I need just the pivot indicator on your charts. None of the ones I have (and I have a lot of them) show the levels with as large a font as yours.
Thanks...

Ah - well the larger font around any of the pivots levels has been put on manually to make it easier to interperate the chart - hence I tend to keep a load of text boxes on my charts to help with posting.....

I use the SDX T2 .....
Attached File(s)
File Type: ex4 SDX-TzPivots.ex4   20 KB | 235 downloads
Trading Levels with WRBs
  • #165
  • Jan 11, 2010 8:37am Jan 11, 2010 8:37am
Sold off the 6135 level - acted as ST resistance....
Trading Levels with WRBs
  • #166
  • Jan 11, 2010 8:40am Jan 11, 2010 8:40am
Quoting Islander
Ah - well the larger font around any of the pivots levels has been put on manually to make it easier to interperate the chart - hence I tend to keep a load of text boxes on my charts to help with posting.....

I use the SDX T2 .....
This is the indicator I am using. I thought there was a separate pivot indicator for that font. Sorry to bother you.
Cheers....
  • #167
  • Jan 11, 2010 9:01am Jan 11, 2010 9:01am
The action since NYO 1

I didnt take the last possible sell at the ?? as the R1 had just held and also € had made a small HL, with Swissy holding under its S1 level, so I'm now seeing mixed signals and so its time to pop a patience pill.....
Attached Image (click to enlarge)
Click to Enlarge Name: jan 11 cable 1 min 0955 est.gif Size: 23 KB
Trading Levels with WRBs
  • #168
  • Jan 11, 2010 9:28am Jan 11, 2010 9:28am
Quoting Islander
The action since NYO 1

I didnt take the last possible sell at the ?? as the R1 had just held and also € had made a small HL, with Swissy holding under its S1 level, so I'm now seeing mixed signals and so its time to pop a patience pill.....
Thank you for chart. Yes, probably last short for today. I dared a long from R1, but don't expect many pips from it.

Edit...out for 15.
  • #169
  • Jan 11, 2010 9:45am Jan 11, 2010 9:45am
Quoting direct-trade
All good, we both misunderstood one another.

I'll post some thoughts when the trading session is over, see you then
Good, all well then.

I look forward to your post.
  • #170
  • Jan 11, 2010 9:45am Jan 11, 2010 9:45am
hey Islander,

could you please let me know,what are the ticks indicating on your charts?

i hope i have not missed this being asked elsewhere

thanks
  • #171
  • Jan 11, 2010 9:48am Jan 11, 2010 9:48am
The low was a small low volume 5 min spinning top and initially good for a few pips and now that there's some volume showing to the downside in Swissy, cable should get back up to at least its MR2 level....TWT, but its too late for me to enter
Trading Levels with WRBs
  • #172
  • Jan 11, 2010 9:52am Jan 11, 2010 9:52am
Quoting Islander
The low was a small low volume 5 min spinning top and initially good for a few pips and now that there's some volume showing to the downside in Swissy, cable should get back up to at least its MR2 level....TWT, but its too late for me to enter
Fix demand. Should have kept that one a bit longer....
  • #173
  • Jan 11, 2010 9:59am Jan 11, 2010 9:59am
Quoting FOURX
hey Islander,

could you please let me know,what are the ticks indicating on your charts?

i hope i have not missed this being asked elsewhere

thanks
NP - where a level first acts as S / R, I'll place the appropriately coloured tick and later, the same coloured arrow for a possible / actual trade entry signal.

Later, I use the arrows to show possible / actual entries and a tick of the "other" colour for possible exits.

My intention is to highlight the potential entries - I dont always take every potential trade as I may be doing something else at the time, but I do try to post in the thread all of the trades that I do take

I hope that helps...

Edit: on reflection, I could make things clearer by using the "X" / "Stop Sign" option in place of say the initial "reversal / warning type" of tick currently used...
Trading Levels with WRBs
  • #174
  • Jan 11, 2010 10:00am Jan 11, 2010 10:00am
  • #175
  • Jan 11, 2010 10:09am Jan 11, 2010 10:09am
Quoting medici
Fix demand. Should have kept that one a bit longer....
I too should have bought after the HL off the 6135 / rising 1 min 30 ema signal.....
Trading Levels with WRBs
  • #176
  • Edited 10:19am Jan 11, 2010 10:18am | Edited 10:19am
Quoting Islander
I too should have bought after the HL off the 6135 / rising 1 min 30 ema signal.....
Exactly my thinking...in hindsight...

The price you pay for a too early entry without reversal confirmation. The 50% session level confirmed by 1min wma was the proper entry point. Didn't somebody say something about betting on levels earlier... Another lesson. Will I ever learn?
  • #177
  • Jan 11, 2010 10:38am Jan 11, 2010 10:38am
Quoting medici
Exactly my thinking...in hindsight...

The price you pay for a too early entry without reversal confirmation. The 50% session level confirmed by 1min wma was the proper entry point. Didn't somebody say something about betting on levels earlier... Another lesson. Will I ever learn?

IMO there is a difference from trading FO/LO, where we often get the pre FO fake-outs and moves away from a flatish 5m 30em and trading later in the day in the early NY session which is often a continuation as we've just had, which then needs confirmation after the open of the NYSE, which we've yet to see.....

Either way, waiting for confirmation off the 1 min chart is the safest way to go.....and this week, that's what I'm trying to do....

I'm finished for the day.....back before FO....BFN
Trading Levels with WRBs
  • #178
  • Jan 11, 2010 10:45am Jan 11, 2010 10:45am
Quoting Islander
IMO there is a difference from trading FO/LO, where we often get the pre FO fake-outs and moves away from a flatish 5m 30em and trading later in the day in the early NY session which is often a continuation as we've just had, which then needs confirmation after the open of the NYSE, which we've yet to see.....

Either way, waiting for confirmation off the 1 min chart is the safest way to go.....and this week, that's what I'm trying to do....

I'm finished for the day.....back before FO....BFN
Agree. Different methods apply. In the morning I'd like to go by price action only, and use the MAs to potentially add to the trade if it's a strong trend. During NY session I have learnt from experience that price action can't be read in the same way, and - as you say - confirmation off the 1 min chart is the way to go.

I'm also done. Thanks for today and see you tomorrow.
  • #179
  • Jan 12, 2010 1:05am Jan 12, 2010 1:05am
Long from 6100. We'll see...

Edit...out for a few
  • #180
  • Jan 12, 2010 1:14am Jan 12, 2010 1:14am
GM - I've just had some technical issues and so been busy sorting them out and missed the early action.

I sold the break under the 6100 level, also 5m 30 ema...

There was an earlier sell signal after the DP was broken and then retested as resistance...
Trading Levels with WRBs
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