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Silent Service Method

  • #7,221
  • Feb 15, 2010 9:37pm Feb 15, 2010 9:37pm
lol golfer trading the daily is scalping for u !!
thank you for your chart .
well i will make u happy and start posting trades taken on monthly and weekly chart , how about that my friend
hey golfer keep posting , and please give us some more of your charts and insights
samer



Quoting golferfx
Hey Samer,

I agre with Chris...$1,000 big support and on a weekly look ...much higher.

Buy the pull backs ... if your thinking a "longer term hold."

If your scalpin...I like the 5 min porno stuff...sounds very exciting...as it should be...keep your wallet in your front pocket my friend.

humble golferfx
  • #7,222
  • Feb 15, 2010 11:49pm Feb 15, 2010 11:49pm
I was playing around with some cool software at a place called Lovely Charts on the web. Interesting software, as they have all kinds of symbols, etc you can use in these flash-based charts.
Attached Image (click to enlarge)
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  • #7,223
  • Feb 16, 2010 10:02am Feb 16, 2010 10:02am
Hi All,

Thought i post this GBPUSD Chart. Looks like we soon going to have a triangle break so am HAWKed on this one....i am betting to the down side but let the charts show us the direction...................nice moves on gbpchf, eurjpy (esp see the break).........
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSD (H8).png Size: 42 KB
Click to Enlarge Name: EURJPY (H8).png Size: 43 KB
  • #7,224
  • Feb 16, 2010 10:11am Feb 16, 2010 10:11am
Strengthening of AUD & NZD kinder worries me but i am also watching the EURNZD Daily close..................
  • #7,225
  • Feb 16, 2010 12:04pm Feb 16, 2010 12:04pm
Quoting clockwork71
Honestly, in my opinion prayer is not a good way to trade. I read you don't put in a stop loss.....why not?
Hey Clockwork - sorry I'm not responding sooner, but I didn't get my usual email saying someone responded.

Anyway, your question as to why I don't use a stop loss is a good one and a common one.

I guess you can call it the conspirasist in me, but I don't like letting anyone know when I plan to get out - regarding a loss or a profit. Every trade I take is a very highly calculated process (yes I do pray ...but not as a trading strategy . My strategy utilizes very small positions at the beginning and then larger ones as a trade moves against me...On the small positions I do not use a stop simply b/c I am looking to get in again (and again) and it would take 1000 pips before it really damaged my account. Once I start adding larger positions, I DO use a stop and once all my positions are in place I place my stoploss at my acceptable Risk/Reward ratio planned for that trade.

I got caught in the E/J trade with my initial small position and therefor did not have a stop in place!

Sorry for the long winded explanation! haha...
  • #7,226
  • Feb 16, 2010 2:20pm Feb 16, 2010 2:20pm
Quoting bgin2end
Hey Clockwork - sorry I'm not responding sooner, but I didn't get my usual email saying someone responded.

Anyway, your question as to why I don't use a stop loss is a good one and a common one.

I guess you can call it the conspirasist in me, but I don't like letting anyone know when I plan to get out - regarding a loss or a profit....
Ok, so your initial position is a lot smaller. That is a lot different then......

Chris
  • #7,227
  • Feb 16, 2010 2:22pm Feb 16, 2010 2:22pm
Quoting Danku
Hi All,

Thought i post this GBPUSD Chart. Looks like we soon going to have a triangle break so am HAWKed on this one....i am betting to the down side but let the charts show us the direction...................nice moves on gbpchf, eurjpy (esp see the break).........

I am certainly waiting.....but this is how I have been looking at this chart - only time will tell, then I make my move.
Attached Image (click to enlarge)
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  • #7,228
  • Feb 16, 2010 4:36pm Feb 16, 2010 4:36pm
Chris
EU break 1.3700 although it wasn't a strong level but still it does mean something , maybe it means it s going to visit 1.41 before it resume it is down trend
it would be nice to short it at 1.41 , let see
samer
  • #7,229
  • Feb 16, 2010 5:45pm Feb 16, 2010 5:45pm
I think we could have a big move here........i have set a Buy Limit and hoping to see some pullback before and nice move up........i am hoping once price gets to 10 Pips of my T/P then i move to BE..............

EURNZD & EURAUD looking good for longs........Buy Limit set on EURNZD...........................CT on EURAUD and a major Down Trend.........Cheers
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpcad (daily).gif Size: 21 KB
Click to Enlarge Name: eurnzd (daily).gif Size: 22 KB
  • #7,230
  • Feb 16, 2010 5:50pm Feb 16, 2010 5:50pm
Quoting samer960
Chris
EU break 1.3700 although it wasn't a strong level but still it does mean something , maybe it means it s going to visit 1.41 before it resume it is down trend
it would be nice to short it at 1.41 , let see
samer

EXACTLY. I said somewhere that I thought a bounce might be coming. Certainly the Euro is in trouble, so let it come to you - then make your trade.....

It's all about waiting for the right time.
  • #7,231
  • Feb 16, 2010 6:23pm Feb 16, 2010 6:23pm
danku
i agree with u that we might be having a set up on GBPCAD . Thats a nice pin we are having on daily at support .
and looks like weekly will end with a hammer .
still i will be very careful since it is in obvious down trend . i might take it long if it break the descendant trend line .
maybe Chris would give us his opinion
happy trading
samer

Quoting Danku
I think we could have a big move here........i have set a Buy Limit and hoping to see some pullback before and nice move up........i am hoping once price gets to 10 Pips of my T/P then i move to BE..............

EURNZD & EURAUD looking good for longs........Buy Limit set on EURNZD...........................CT on EURAUD and a major Down Trend.........Cheers
  • #7,232
  • Feb 16, 2010 7:12pm Feb 16, 2010 7:12pm
I've been waiting for this pair to find a bottom for a while. I don't have data prior to 2003 with my broker so I don't have to wide of a perspective on it. It has been trending nicely so let's see what happens.

Other than that, I'm kind of in limbo this week because my wife took a week off. lol
  • #7,233
  • Feb 16, 2010 8:11pm Feb 16, 2010 8:11pm
Quoting samer960
danku
i agree with u that we might be having a set up on GBPCAD . Thats a nice pin we are having on daily at support .
and looks like weekly will end with a hammer .
still i will be very careful since it is in obvious down trend . i might take it long if it break the descendant trend line .
maybe Chris would give us his opinion
happy trading
samer
I am a bit weary of the gbp/cad because of the major downtrend, also if we were to play it traditional Pin bar style we would be looking at a 200 pip sl.
Learning to be rigid in my rules & flexible in my expectations
  • #7,234
  • Feb 16, 2010 8:21pm Feb 16, 2010 8:21pm
Quoting samer960
danku
i agree with u that we might be having a set up on GBPCAD . Thats a nice pin we are having on daily at support .
and looks like weekly will end with a hammer .
still i will be very careful since it is in obvious down trend . i might take it long if it break the descendant trend line .
maybe Chris would give us his opinion
happy trading
samer

I might consider playing it for a bounce....but please remember that you are counter-trend on this one. Be careful, and don't let a gain turn into a loss. I never let that happen on a counter-trend trade. (At least I try not to let it happen. )
  • #7,235
  • Feb 16, 2010 8:23pm Feb 16, 2010 8:23pm
Quoting calderone
I've been waiting for this pair to find a bottom for a while. I don't have data prior to 2003 with my broker so I don't have to wide of a perspective on it. It has been trending nicely so let's see what happens.

Other than that, I'm kind of in limbo this week because my wife took a week off. lol

I agree with the whole finding a bottom.....but you have to be careful when your historical data isn't that long. For example, I found out recently in one of my webinars that the bottom of EUR/AUD is actually 1.50 area - not the 1.55 area I was playing. All because someone was using Alpari, and I was using IBFX.
  • #7,236
  • Feb 16, 2010 9:27pm Feb 16, 2010 9:27pm
Quoting clockwork71
I agree with the whole finding a bottom.....but you have to be careful when your historical data isn't that long. For example, I found out recently in one of my webinars that the bottom of EUR/AUD is actually 1.50 area - not the 1.55 area I was playing. All because someone was using Alpari, and I was using IBFX.
(off topic, too much coffee)
Do you find that it is better to stick with a NY close broker? Or does it not matter as long as you trade what you see?? Just curious.
  • #7,237
  • Feb 16, 2010 9:50pm Feb 16, 2010 9:50pm
Quoting calderone
(off topic, too much coffee)
Do you find that it is better to stick with a NY close broker? Or does it not matter as long as you trade what you see?? Just curious.
I find it makes no real difference. I have IBFX demo for charting, which is GMT.....but on pairs they don't offer - I use my Interactive Brokers charts, which are close of NY.

I just trade what's on the chart and leave it at that......
  • #7,238
  • Feb 17, 2010 7:28am Feb 17, 2010 7:28am
Quoting clockwork71
I find it makes no real difference. I have IBFX demo for charting, which is GMT.....but on pairs they don't offer - I use my Interactive Brokers charts, which are close of NY.

I just trade what's on the chart and leave it at that......

Good to know. I don't want to limit myself based on that.
  • #7,239
  • Feb 17, 2010 3:23pm Feb 17, 2010 3:23pm
Cable
Attached Image(s) (click to enlarge)
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  • #7,240
  • Feb 17, 2010 8:31pm Feb 17, 2010 8:31pm
Threw up a new public video. Check the "twitter" links on front page of web site.

Chris
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