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Silent Service Method

  • #7,261
  • Feb 19, 2010 7:43am Feb 19, 2010 7:43am
Quoting clockwork71
You always shake the markets don't you????

He either has a big account or the banks shadow his every move. The institutional traders are taught to move with the big money! (Samer)
  • #7,262
  • Feb 19, 2010 8:43am Feb 19, 2010 8:43am
Quoting calderone
He either has a big account or the banks shadow his every move. The institutional traders are taught to move with the big money! (Samer)


George "samer" Soros
  • #7,263
  • Feb 19, 2010 8:50am Feb 19, 2010 8:50am
LOL .
  • #7,264
  • Feb 19, 2010 8:51am Feb 19, 2010 8:51am
whats going on with this pair ? it is hitting the ceiling
  • #7,265
  • Feb 19, 2010 8:51am Feb 19, 2010 8:51am
Now if I could piggy-back with the big money (samer).

Anyone have the Samer ea??
  • #7,266
  • Feb 19, 2010 8:53am Feb 19, 2010 8:53am
Quoting samer960
whats going on with this pair ? it is hitting the ceiling

I'm watching for price action around 2878 area. I'm hoping for the top but you know what hoping does!
  • #7,267
  • Feb 19, 2010 9:00am Feb 19, 2010 9:00am
yes mike , lets not hope and watch it carefully , we have many pairs now at a critical level , maybe soon we will get lost witch pair we should trade . many opportunities are coming soon .
samer

Quoting calderone
I'm watching for price action around 2878 area. I'm hoping for the top but you know what hoping does!
  • #7,268
  • Feb 19, 2010 9:08am Feb 19, 2010 9:08am
Quoting samer960
yes mike , lets not hope and watch it carefully , we have many pairs now at a critical level , maybe soon we will get lost witch pair we should trade . many opportunities are coming soon .
samer
eu/aud and aud/nzd are on my hit list for sure. Being very cautious with eur/aud as the daily doesn't always tell the truth to me. Tempted to trade levels (area orders) with these.
  • #7,269
  • Feb 19, 2010 11:04am Feb 19, 2010 11:04am
Quoting samer960
yes mike , lets not hope and watch it carefully , we have many pairs now at a critical level , maybe soon we will get lost witch pair we should trade . many opportunities are coming soon .
samer

I agree with this statement 110%. We are going to see many opportunities very soon. Remember: Good things come to those who wait. That is especially true in forex.
  • #7,270
  • Feb 19, 2010 11:27am Feb 19, 2010 11:27am
Quoting clockwork71
Thanks a lot of the kind words. And sure....paying attentino to the right S/R is paramount. Of course - it take s a little time to learn which ones are more important than others.....but if you have a question about a chart - fire away mate.....I will give my opinion promptly.

Welcome,
Chris
Thanks so much mate. There's a few questions but I might find the answers later on in the thread, I've still 5400 posts to go.

Having said that, I was wondering if, when you get a minute, you could take a look at this chart and let me know your thoughts on the s/r zones I drew, to help me get on the right path. I left out one zone at around 45 and another at around 65, because otherwise the chart looked cluttered, and price hadn't revisited or stopped at those zones since 2000. Still, there's five zones between 40 and 5, but I'm not sure which ones should I get rid of.
http://www.forexfactory.com/%3Ca%20h...%22%3E%3C/a%3Ehttp://www.forexfactory.com/%3Ca%20h...%22%3E%3C/a%3Ehttp://www.forexfactory.com/%3Ca%20h...%22%3E%3C/a%3Ehttp://i162.photobucket.com/albums/t...ak_music/r.png
Best wishes
Seba
  • #7,271
  • Feb 19, 2010 10:31pm Feb 19, 2010 10:31pm
Seba -

Thanks for the kind words.

For starters, I am assuming this is basically a monthly chart. Do not be discouraged by your "over crowding of S/R areas", because many of them are 10 GBP apart. This is very common, and if you are trading off the daily charts - it's plenty of room. Somewhere in this post I mention that I trade forex mainly from weekly S/R and use 4 hour charts as entries. (Daily as well.) It's about seeing larger areas, and having room to move. It also helps filter out a lot of the noise.

As for your chart, I would say look at "handles". For example, you have roughly 38-39 as an area. I would mark it as 40. I could also mark the 50,60,and 70 areas. Markets LOVE handles like that....you know, simple 10 multiples. In forex, it would be 1.30, 1.35, 1.40, etc.....

I know it sounds crazy, but on a lot of charts - if you just plot those areas - that's enough.

Post another chart, (no markings, just raw data) and I will give you my thoughts on it as well. This makes good practice.

Chris
  • #7,272
  • Feb 20, 2010 1:49am Feb 20, 2010 1:49am
my EA : clockwork V.71
everybody can have it , it is here in this thread


Quoting calderone
Now if I could piggy-back with the big money (samer).

Anyone have the Samer ea??
  • #7,273
  • Feb 20, 2010 7:21am Feb 20, 2010 7:21am
Quoting egkid
They key in my view for successful trade MM , Can History repeat it self we will see
Happy to see you Chris
I had a Dream but i had no explanation to it,Maybe someone can?
After wtching TV news FED raise the rat oops i mean Rate I went to sleep telling my self I'm 100% sure Us$ will shoot high.

The dream:
Devil Laughing Point to chart G/U 1.60 , E/U 1.40xx, I get really Surprise and turning my face between the chart and to the devil!

How come ? That not suppose to happen! Daily trend down and FED raise the rate us$ should go up.

The devil turn his face away while laughing
Then i wake up run to my screen...........

Any one have an explanation?

Any way it just a dream

Catch you later
  • #7,274
  • Feb 20, 2010 8:12am Feb 20, 2010 8:12am
Quoting egkid
I had a Dream but i had no explanation to it,Maybe someone can?
After wtching TV news FED raise the rat oops i mean Rate I went to sleep telling my self I'm 100% sure Us$ will shoot high.

The dream:
Devil...
Odd dream. Perhaps you are expecting a retracement?
  • #7,275
  • Feb 20, 2010 11:02am Feb 20, 2010 11:02am
Quoting clockwork71
Do not be discouraged by your "over crowding of S/R areas", because many of them are 10 GBP apart... It's about seeing larger areas, and having room to move. It also helps filter out a lot of the noise.

As for your chart, I would say look at "handles". For example, you have roughly 38-39 as an area. I would mark it as 40. I could also mark the 50,60,and 70 areas. Markets LOVE handles like that....you know, simple 10 multiples... I know it sounds crazy, but on a lot of charts - if you just plot those areas - that's enough.. Post another chart,...
Hi Chris,

Again thanks so much for your help.

Although I had read how important you thought round numbers were, I was focusing more on trying to get as many peaks and lows touching, near, or in the areas, as possible, while avoiding too wide zones.

How about this version instead? It's the same chart.

http://i162.photobucket.com/albums/t...aex-s-r-v2.gif
Apart from your suggested areas, I included the zones around 25 and 35, with arrows pointing at the various peaks and lows that reacted to those areas. Are these 4 or 5 peaks or lows less important / noise, because they're not close to round numbers? In that case I could avoid drawing those zones. Then again, a zone or 2 points or less with the next zone almost 4 points away pretty much fulfills a potential 2:1 PR ratio (specially if you see the trigger bars inside the zone, as opposed to closer to their extremes). Of course i'd prefer bigger PR ratios if possible...

I was trying not to ask this question before finishing the thread, but it's part of this zone drawing vs PR ratio issue, so I hope it's ok. Do you ever consider setting stops on the other side of the trigger bar, as Pring suggests, or do you always set stops on the other side of the S/R area? Looking at pins at peaks of rallies over many charts, I noticed very rarely the ensuing reaction retraces past the highs of the pin... I notice other regulars in this thread use the zone, but couldn't find what you personally use, yet. If anyone knows where to find this answer and can point me to the post where it's answered that'd be great too.

This tighter initial stop would be great to increase the PR, but then again maybe in your experience you find this SL approach too risky, e.g. when price retraces to the zone before shooting toward the target...?

I also attach to this post a raw version of this chart, without any markings, as you suggested.

Once again thanks a bunch, and have a great weekend.

Best
Seba
Attached Image
  • #7,276
  • Feb 20, 2010 3:56pm Feb 20, 2010 3:56pm
Quoting sebafx
Hi Chris,

Again thanks so much for your help.

Although I had read how important you thought round numbers were, I was focusing more on trying to get as many peaks and lows touching, near, or in the areas, as possible, while avoiding too wide zones.

How about this version instead? It's the same chart.

http://i162.photobucket.com/albums/t...aex-s-r-v2.gif
Apart from your suggested areas, I included the zones around 25 and 35, with arrows pointing at the various peaks and lows that reacted to those areas. Are...

Don't be confused by the term "round numbers", it simply means anywhere price ends with "00". So for example, the price of $21.00 is a round number, 33.00 is a round number, as well as 125.00

I put stops behind S/R areas, simply because it adds an "extra layer" of protection, if that makes any sense.
  • #7,277
  • Feb 21, 2010 5:12pm Feb 21, 2010 5:12pm
blog updated.
  • #7,278
  • Feb 21, 2010 6:47pm Feb 21, 2010 6:47pm
Quoting clockwork71
#1 [color=Purple][b][i]You were correct in looking at that area. However, you could have perhaps waited to see if it went a bit above not only the pinbar on the daily that formed, but the trend line as well. (That is a more conservative way to trade it.) Do not worry - your interest in this area was well founded, the execution was a little off is all.

The rest of this could be an entire course in itself. Actually, you should think of the pinbar as a reversal signal, and no - it's not always counter trend....
Thanks Chris and Samer !! It surely is the best investment. I will remember to keep with the (weekly) trend and manage my trade if I am counter trending ( in this trade I did not even get any opportunity to manage, it went few pips above the pin bar and went in opposite direction)

Lot of pairs are close to critical areas. I am looking forward to upcoming opportunities those you and Samer have alluded to.

cheers
  • #7,279
  • Feb 21, 2010 9:14pm Feb 21, 2010 9:14pm
Quoting clockwork71
I agree with this statement 110%. We are going to see many opportunities very soon. Remember: Good things come to those who wait. That is especially true in forex.
And in poker too...
  • #7,280
  • Feb 22, 2010 8:53am Feb 22, 2010 8:53am
Some days just simply are not made for trading. From what I can see, today is one of those days. Instead of getting chopped up in dead-end trades.....I suggest looking for something constructive to do today.

I for one am going to be working on my new software for the site.

I will be checking the threads a little later - but dont expect to put trades on today. I am still short the pound - dollar pair.
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