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  • #61
  • Feb 17, 2010 2:36am Feb 17, 2010 2:36am
Quoting Ctic
Long cable 55750 (.4) SL open atm.

do u still have this trade goin on??
I don't want a job, i want money!
  • #62
  • Feb 17, 2010 2:38am Feb 17, 2010 2:38am
Quoting dario1002
do u still have this trade goin on??
Yes, I am still long atm. My SL is open as well for the moment, I figured I will do this one manually (at least until I go to sleep). And I noticed I mistyped it. Supposed to read 5750.
  • #63
  • Feb 17, 2010 2:42am Feb 17, 2010 2:42am
Quoting Ctic
Yes, I am still long atm. My SL is open as well for the moment, I figured I will do this one manually (at least until I go to sleep). And I noticed I mistyped it. Supposed to read 5750.
Ok... i was going nut trying to understand what u could have possibly seen at 5775 (this is how i read it)
I don't want a job, i want money!
  • #64
  • Feb 17, 2010 3:11am Feb 17, 2010 3:11am
Hi,

Could you explain what triggered those 2 long trades?

Thanks
  • #65
  • Feb 17, 2010 3:20am Feb 17, 2010 3:20am
Quoting Rolee
Hi,

Could you explain what triggered those 2 long trades?

Thanks
Sure, very simple.

The first was triggered by PA hitting the 76.4 fib and the second was triggered by hitting the 61.8 fib. This is the 1H chart with the previous daily candle fibs. Those levels are retracement levels.
Attached Image (click to enlarge)
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  • #66
  • Feb 17, 2010 3:29am Feb 17, 2010 3:29am
Quoting Ctic
Sure, very simple.

The first was triggered by PA hitting the 76.4 fib and the second was triggered by hitting the 61.8 fib. This is the 1H chart with the previous daily candle fibs. Those levels are retracement levels.
Hey... i just notced that u set your fibo from yesterday's CLOSE and not from yesterday's LOW... isn't the "theory" that u should trace it from highs and lows?
I don't want a job, i want money!
  • #67
  • Feb 17, 2010 3:32am Feb 17, 2010 3:32am
Quoting dario1002
Hey... i just notced that u set your fibo from yesterday's CLOSE and not from yesterday's LOW... isn't the "theory" that u should trace it from highs and lows?
You are correct, slip of the hand, didn't make much differene though in this situation. was only off 12 pips.
  • #68
  • Feb 17, 2010 4:39am Feb 17, 2010 4:39am
Quoting Ctic
Long cable 5750 (.4) SL open atm.
Time for bed.

G/U @ 5750 (.4) closed partial (.2) @ 5784.

Remaing trade

G/U @ 5750 (.2) SL set to 5710 TP @ 5830.

Good night all. and Hopefully you have a green day.
  • #69
  • Feb 17, 2010 4:42am Feb 17, 2010 4:42am
Quoting Ctic
Time for bed.

G/U @ 5750 (.4) closed partial (.2) @ 5784.

Remaing trade

G/U @ 5750 (.2) SL set to 5710 TP @ 5830.

Good night all. and Hopefully you have a green day.
NICE!

Have a good rest.
Ghost Rider - WWTBMD?
  • #70
  • Feb 17, 2010 8:35am Feb 17, 2010 8:35am
Quoting Ctic
Time for bed.

G/U @ 5750 (.4) closed partial (.2) @ 5784.

Remaing trade

G/U @ 5750 (.2) SL set to 5710 TP @ 5830.

Good night all. and Hopefully you have a green day.
G/U @ 5750 (.2) stopped out @ 5710.

Positions are flat.
  • #71
  • Feb 17, 2010 8:52am Feb 17, 2010 8:52am
G/U

Long entered 5683 (3.0) SL open TP open. Hit 161.8 on 15M chart.
Attached Image (click to enlarge)
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  • #72
  • Feb 17, 2010 9:34am Feb 17, 2010 9:34am
Quoting Ctic
G/U

Long entered 5683 (3.0) SL open TP open. Hit 161.8 on 15M chart.
G/U long 5683 (3.0) amended SL 5700 TP open.
  • #73
  • Feb 17, 2010 9:48am Feb 17, 2010 9:48am
Quoting Ctic
G/U long 5683 (3.0) amended SL 5700 TP open.
G/U long 5683 (3.0) stopped out @ 5699. Positions are flat atm.
  • #74
  • Feb 17, 2010 8:52pm Feb 17, 2010 8:52pm
Taking the night off from trading so trade well everyone and green pips to all.

C.
  • #75
  • Feb 18, 2010 12:48pm Feb 18, 2010 12:48pm
Finding a good system is always important. After years of trading, I have found my system seems to work for me 85% of the time (give or take a little). But Even the best system will fail without the following 2 principles.

1. Money management
2. Consistancy

Try to be consistant with the trades. If you trade 1 contract, trade 1 contract. Don't bounce from 1, to .2, to 4, to .5. etc. (One exception applies here in my opinion).

The exception is lets say the balance of your account allows you to trade 2 contracts (max) and still have a comfortable margin (thus showing proper money management). Lets say you see a good setup on 5 different countries. Instead of trading your normal 2 contracts to be consistant, make 5 (.4) contracts. This may seem inconsistant, but still have to be within smart money management principles. Just my opinion.

Many will notice that in my posts of trades I bounce between contract sizes. This is because I have multiple pair trades in. When I have a larger trade in, I am in less countries. When I have less contracts I am in multiple pair trades. Like I said since G/U is the pair I enjoy trading the most this is what I focus on in this thread.
  • #76
  • Feb 18, 2010 8:08pm Feb 18, 2010 8:08pm
Trying a little counter trend trading here.

G/U long @ 1.5429 (.4) SL 1.5390

Looking for scalp on retrace. Hit 161.8 fib, good spot for bounce
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  • #77
  • Edited Feb 19, 2010 1:33am Feb 18, 2010 10:26pm | Edited Feb 19, 2010 1:33am
Quoting Ctic
Trying a little counter trend trading here.

G/U long @ 1.5429 (.4) SL 1.5390

Looking for scalp on retrace. Hit 161.8 fib, good spot for bounce
Stop amended 1.5349
  • #78
  • Feb 19, 2010 1:33am Feb 19, 2010 1:33am
Quoting Ctic
Stop amended 1.5349

Stop amended 1.5300
  • #79
  • Feb 19, 2010 2:20am Feb 19, 2010 2:20am
Good Morning Ctic,

I'm just curious why you keep backing your stop off? I too have been trying longs against this train but see no signs (yet) of it turning around.

I thought the 5380 would hold but we've had two 15M close below it now. Just curious what you're thinking is here?
Ghost Rider - WWTBMD?
  • #80
  • Feb 19, 2010 2:24am Feb 19, 2010 2:24am
Quoting albchr
Good Morning Ctic,

I'm just curious why you keep backing your stop off? I too have been trying longs against this train but see no signs (yet) of it turning around.

I thought the 5380 would hold but we've had two 15M close below it now. Just curious what you're thinking is here?
I first one I did simply because I messed up originally. Second one I did it bacasue of the news event. I anticapted the down movement (and actually scalped it a little too which was nice.) I do think we will see a bit of an uptrace, but when is the question. Quite honestly I may not keep this trade and close manually if we get a new low again past 5350
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