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  • #13,601
  • Jan 5, 2010 11:09am Jan 5, 2010 11:09am
Nice levels Booker, GU was near perfect.
  • #13,602
  • Jan 6, 2010 8:40am Jan 6, 2010 8:40am
Using beak of TL + retest & S&R.

http://i24.photobucket.com/albums/c2.../th_ujjan6.jpg
  • #13,603
  • Jan 7, 2010 11:48am Jan 7, 2010 11:48am
Quoting sam0182
Using beak of TL + retest & S&R.

http://i24.photobucket.com/albums/c2.../th_ujjan6.jpg
only a scalp out of that trade as it turned out .. dont know if u took it ?
i managed to ride gu for 100 pips but was stopped out on usd/chf.. to volitile at the start of the new year .. but the dollar seems to be moving now as forcast . im a bit cautious of any trade to the contrary but well see .
  • #13,604
  • Jan 7, 2010 1:28pm Jan 7, 2010 1:28pm
Quoting booker66
only a scalp out of that trade as it turned out .. dont know if u took it ?
i managed to ride gu for 100 pips but was stopped out on usd/chf.. to volitile at the start of the new year .. but the dollar seems to be moving now as forcast . im a bit cautious of any trade to the contrary but well see .
I did take it and got the meat of the move, 35 points. Trend is still up, a point made clear with new highs today.

Yeah, interesting start to the year...I've been sticking with more trending plays or break of trends, using wider stops w/smaller trade sizes. Lots of spike outs.
  • #13,605
  • Jan 8, 2010 12:44am Jan 8, 2010 12:44am
Quoting ayman.fx
Usd/jpy sell 93.41 tp 90.49
interesting ... im looking for some support between 93 / 92.75 .

what kind of stop are u using for that trade ayman ?

Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy4hr.gif Size: 36 KB
  • #13,606
  • Jan 8, 2010 5:08am Jan 8, 2010 5:08am
Quoting ayman.fx
EUR/USD
Trading range: 1.4275 - 1.4380
Trend: Upward
Buy at 1.4289 SL 1.4257 TP 1.4366

USD/JPY
Trading range: 93.55 - 92.65
Trend: Downward
Sell at 93.43 87 93.75 TP 92.71

GBP/USD BUY 1.6008 TP1.6166
Trading range: 1.5915 - 1.6025
Trend: Upward
Buy at 1.5926 SL 1.5894 82 1.6014

USD/CHF
Trading range: 1.0370 - 1.0270
Trend: Downward
Sell at 1.0360 SL 1.0392 TP 1.0276


thanks for that.. good luck .
  • #13,607
  • Jan 8, 2010 5:15am Jan 8, 2010 5:15am
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  • #13,608
  • Jan 8, 2010 6:01am Jan 8, 2010 6:01am
Quoting booker66
interesting ... im looking for some support between 93 / 92.75 .

what kind of stop are u using for that trade ayman ?

Attachment
wow glad i closed the trade before the non farm payroll news !!

took 35 pips and glad of it ..
  • #13,609
  • Edited 9:56am Jan 13, 2010 9:17am | Edited 9:56am
Hi,

I would like to trade this method, however I am at work during the London session. Is it possible to set up limit orders the previous night with trailing stops so I dont have to intervene? I have an Oanda account also so I could maybe use that from work, but they dont seem to have alerts to when price is approaching my order, or for when it is triggered. Anyone else have these issues?

Another question is how many pairs is good to focus on, if doing the 4 hour and above.

Regards

Mark
Economists have forecast 9 out of the last 5 recessions
  • #13,610
  • Edited 3:03pm Jan 13, 2010 10:14am | Edited 3:03pm
Quoting markmm
Hi,

I would like to trade this method, however I am at work during the London session. Is it possible to set up limit orders the previous night with trailing stops so I dont have to intervene? I have an Oanda account also so I could maybe use that from work, but they dont seem to have alerts to when price is approaching my order, or for when it is triggered. Anyone else have these issues?

Another question is how many pairs is good to focus on, if doing the 4 hour and above.

Regards

Mark
Hello Mark,

I have had aspiring traders evaluate exactly that, and the answer is yes, it is very much possible.

The way to go is to get up half an hour earlier in the morning and, preferably before 6am, identify two or three support and resistance levels above and below the current price, which might get hit during the London session. Then place buy and sell orders at those levels with set SL and TP. Of course, some discretion need to be applied, such as caution with sell orders in a strong up trend and so forth.

Many of the trainees reported returns upwards of 50% a month at 2% risk per trade.

When it comes to alerts, you could open an account with IG Index/Markets and receive alerts per email/SMS even if you don't place a large trading volume through them.

Hope that helps.
  • #13,611
  • Jan 13, 2010 11:31am Jan 13, 2010 11:31am
Quoting medici
Hello Mark,

I have had aspiring traders evaluate exactly that, and the answer is yes, it is very much possible.

The way to go is to get up half an hour earlier in the morning and, preferably before 6am, identify two or three support and resistance levels above and below the current price, which might get hit during the London session. Then place buy and sell orders at those levels with set SL and TP. Of course, some discretion need to be applied, such as caution with sell orders in a strong up trend and so forth.

Many of the trainees reported...
Thanks Medici,

50% return a month is suberb, are you talking about using this method or your European open one?

Mark
Economists have forecast 9 out of the last 5 recessions
  • #13,612
  • Jan 13, 2010 11:37am Jan 13, 2010 11:37am
Quoting markmm
Hi,

I would like to trade this method, however I am at work during the London session. Is it possible to set up limit orders the previous night with trailing stops so I dont have to intervene? I have an Oanda account also so I could maybe use that from work, but they dont seem to have alerts to when price is approaching my order, or for when it is triggered. Anyone else have these issues?

Another question is how many pairs is good to focus on, if doing the 4 hour and above.

Regards

Mark
Hi
I trade off hourly charts/daily levels with a methodology which is heavily influenced by Steve(BRV). I trade 13 pairs, and set orders to enter at 1st touch(10 pips before). I use an EA which; carries a 'nightmare stop'; a move to breakeven at worst when xx pips up; and a set TP of 50-100 pips dependent upon the pair. There's a bit more to it than this, but it's definitely possible.
Cheers.
  • #13,613
  • Jan 13, 2010 1:29pm Jan 13, 2010 1:29pm
Quoting markmm
Thanks Medici,

50% return a month is suberb, are you talking about using this method or your European open one?

Mark
The method described in my post here.
  • #13,614
  • Jan 13, 2010 1:42pm Jan 13, 2010 1:42pm
Quoting Interceptor
Hi
I trade off hourly charts/daily levels with a methodology which is heavily influenced by Steve(BRV). I trade 13 pairs, and set orders to enter at 1st touch(10 pips before). I use an EA which; carries a 'nightmare stop'; a move to breakeven at worst when xx pips up; and a set TP of 50-100 pips dependent upon the pair. There's a bit more to it than this, but it's definitely possible.
Cheers.
Cool thanks. will be marking S/R on charts tonight.
Economists have forecast 9 out of the last 5 recessions
  • #13,615
  • Jan 13, 2010 1:42pm Jan 13, 2010 1:42pm
Quoting medici
The method described in my post here.
Ok thanks, ill do a search for it.
Economists have forecast 9 out of the last 5 recessions
  • #13,616
  • Jan 13, 2010 2:39pm Jan 13, 2010 2:39pm
Quoting markmm
Ok thanks, ill do a search for it.
I meant the post in response to your question.
  • #13,617
  • Jan 13, 2010 2:51pm Jan 13, 2010 2:51pm
Quoting medici
I meant the post in response to your question.
Ok sorry, I get you now.
Economists have forecast 9 out of the last 5 recessions
  • #13,618
  • Edited 4:33pm Jan 13, 2010 4:16pm | Edited 4:33pm
Buy LIMIT at 1.4460.
Attached Image (click to enlarge)
Click to Enlarge Name: edbs.jpg Size: 70 KB
Economists have forecast 9 out of the last 5 recessions
  • #13,619
  • Jan 14, 2010 1:49am Jan 14, 2010 1:49am
What happened to this thread, its dead.
Economists have forecast 9 out of the last 5 recessions
  • #13,620
  • Jan 14, 2010 2:10am Jan 14, 2010 2:10am
Quoting markmm
What happened to this thread, its dead.
I think that quite a few wandered off to the chatroom which Steve set up, although I'm not sure if anybody has heard anything off him for a while now.
Hold on, I spoke too soon!

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