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  • #101
  • Feb 22, 2010 12:12am Feb 22, 2010 12:12am
Quoting Ctic
Thought it was fitting that since it's my thread to have the 100th post. So here it is....
ha ha , good job
  • #102
  • Feb 22, 2010 1:02am Feb 22, 2010 1:02am
G/U long entered 1.5451 (.4) SL open for moment TP open for moment.
  • #103
  • Feb 22, 2010 2:15am Feb 22, 2010 2:15am
Quoting Ctic
G/U long entered 1.5451 (.4) SL open for moment TP open for moment.
The link to the cable thread shows what I was tinking when I went long.

http://www.forexfactory.com/showpost...stcount=201061

Since then here is what it looks like atm. Lets see if it holds.
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  • #104
  • Feb 22, 2010 3:46am Feb 22, 2010 3:46am
Quoting Ctic
G/U long entered 1.5451 (.4) SL open for moment TP open for moment.
SL amended 1.5330
  • #105
  • Feb 22, 2010 9:28am Feb 22, 2010 9:28am
Quoting digger1
thought you had a thread I was looking for one with ctic in the name, goofy farmers lol, thanks , got some reading material now

"goofy farmers"

I grew up on one and around many. Some of the smartest guys I have ever met.

Yesterday I was up at the round pen watching Buddy (draft paint cross) eat his dinner. I thought of the phrase "eat like a horse". Horses eat with nibbles, small bites lifted with their lips. But they eat continuously thuss eat like a horse, a lot. So this got me to thinking about the forex market. If I want to earn a lot it is the constant nibbling away where great returns are made. Sure we all hear of the 12 year old who makes a million or something like that. Those are few and far between. I will be content with getting it like Buddy eats a nibble at a time. I guess I am a goofy farmer as well. Such a simple comparison.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #106
  • Feb 22, 2010 10:48am Feb 22, 2010 10:48am
Quoting Rufus
"goofy farmers"

I grew up on one and around many. Some of the smartest guys I have ever met.

Yesterday I was up at the round pen watching Buddy (draft paint cross) eat his dinner. I thought of the phrase "eat like a horse". Horses eat with nibbles, small bites lifted with their lips. But they eat continuously thuss eat like a horse, a lot. So this got me to thinking about the forex market. If I want to earn a lot it is the constant nibbling away where great returns are made. Sure we all hear of the 12 year old who makes a million...
Rufus,

LOL...Great story and so true.

I went to school in Iowa and many of my friends there came from farmer familes, hence how I received the nickname "Chicago" since I was from Chicago.

You are completely correct with taking the little nibbles at the Forex. There is someone I chat with on the cable update Terpfan, and I have told him to constantly take profits. Hence, Why I closed my long I had over the weekend and take another long. Also, I do not post my scalp trades that I make here in this tread. I do many of them and I would spend more time posting scalp trades than actually trading.

Most of my scalp trades go for 6 - 10 pips. I do, not take losses on the scalp trades since I usually scalp them the same direction as the longer term trade I have posted here. Thus, I only lose on it when the long term trade loses. I always maintain a good margin thus not to violate the MM principal.

Occassionally, I will scalp the other direction when it hits a major fib topside, such as the 100, 138.2 or 161.8. But I don't hold the trade long at all. Usually in and out in under 2 minutes. I like the 5 minute chart to scalp and I use the 1H candle fibs and the MA's are very important there.

Today, that is the only reason I have a decent gain is because I scalped otherwise I would be basically only be +25 pips otherwise atm.

C.
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  • #107
  • Feb 22, 2010 8:52pm Feb 22, 2010 8:52pm
Quoting Rufus
"goofy farmers"

I grew up on one and around many. Some of the smartest guys I have ever met.

Yesterday I was up at the round pen watching Buddy (draft paint cross) eat his dinner. I thought of the phrase "eat like a horse". Horses eat with nibbles, small bites lifted with their lips. But they eat continuously thuss eat like a horse, a lot. So this got me to thinking about the forex market. If I want to earn a lot it is the constant nibbling away where great returns are made. Sure we all hear of the 12 year old who makes a million...
hey rufus hello , crazy world lol, 2 farmers trading forex , price of equipment and fuel etc got to have a an addiction that pays well to support my farming habit ha ha happy to say my trading has helped in that dept tremendously .
Ctic was wondering what consitutes the master candle or simply how do you determine which one it is on the time frames?
  • #108
  • Feb 22, 2010 9:58pm Feb 22, 2010 9:58pm
Quoting digger1
hey rufus hello , crazy world lol, 2 farmers trading forex , price of equipment and fuel etc got to have a an addiction that pays well to support my farming habit ha ha happy to say my trading has helped in that dept tremendously .
Ctic was wondering what consitutes the master candle or simply how do you determine which one it is on the time frames?
Digger,

A master candle is one that is the main candle and each following candle is inside that candle. This is otherwise known as inside bars or inside candles. I have an indicator which quickly and easily shows them. Take this daily chart for example. The candle with the 3 on the bottom is the master candle noted by the small green line above and red line below. The following 2 candles remained within that master candle. Hope this helps.

C.
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  • #109
  • Feb 22, 2010 10:43pm Feb 22, 2010 10:43pm
Hey Ctic

Do you primarily trade the GU?

Also from the sound of things you have short, medium, and long term positions. I have been working toward having 3 or 4 different trading systems. Very long term with day chart enteries. Medium term with h and 4h. short term with 5 and 15m. Of course MM plays an important role. I risk no more than 2% usually 1% at any given time. Once a position is completly paid for then willing to risk the full amount again.

What I have been struggling with is a scalping system. The simple explanation you gave a few posts back may have answered the whole problem.

Now I am doing all this with the EU. In your opinion should I branch out into another currency pair. I have been watching AUDUSD and USDCHF for long term plays. But by far my main focus is the EU.

So anyway trying to "nibble" away at it.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #110
  • Feb 23, 2010 12:10am Feb 23, 2010 12:10am
Hi Rufus,

I do trade multiple countrypairs but G/U has always been my favorate.

I do have differnt trading styles. I usually stick with short and medium term trades. Long term for me is usually less than a day. On rare occurances (which we happen to be in one now) I keep the trades for more than a day.

Why do I do this? Because everyday price moves towards and hits the targets it will hit. Then Like clockwork, it retraces back into the candle. I.E. every candle retraces back into the previous day candle. Thus I like to take advantage of the retraces.

A scalping system that I use happens to be one that utilizes the fibs, MA's and candlestick patterns. Play the channels when we get them, watch the fibs, and the MA's give good bounce spots and good general directions. As for other country pairs, I do like to branch out. It is important to trade the countries that you know, or can determine.

Why use more than one. Well, if one countrypair isn't doing squat, another may be moving right along. Also, I like to play countries that have nice setups. I don't necessarily look for a certain country but a certain setup.

Take care Rufus and green pips to you,

C.

Quoting Rufus
Hey Ctic

Do you primarily trade the GU?

Also from the sound of things you have short, medium, and long term positions. I have been working toward having 3 or 4 different trading systems. Very long term with day chart enteries. Medium term with h and 4h. short term with 5 and 15m. Of course MM plays an important role. I risk no more than 2% usually 1% at any given time. Once a position is completly paid for then willing to risk the full amount again.

What I have been struggling with is a scalping system. The simple explanation you gave a...
  • #111
  • Feb 23, 2010 2:51am Feb 23, 2010 2:51am
Quoting Ctic
G/U long entered 1.5451 (.4) SL open for moment TP open for moment.
Long @ 1.5451 (.4) closed 1.5556
  • #112
  • Feb 23, 2010 3:33am Feb 23, 2010 3:33am
G/U

Long entered 1.5454 (.4) SL 1.5320
  • #113
  • Feb 23, 2010 4:43am Feb 23, 2010 4:43am
Quoting Ctic
G/U

Long entered 1.5454 (.4) SL 1.5320
Long @ 1.5454 (.4) closed @ 1.5425.

Positions are flat atm. You win some, you lose some.
  • #114
  • Feb 23, 2010 5:18am Feb 23, 2010 5:18am
Quoting Ctic
Long @ 1.5454 (.4) closed @ 1.5425.

Positions are flat atm. You win some, you lose some.
Yep it happens buddy. Hope you had a great weekend. Mine was awesome and it's just ending now...LOL

Taking a small bite here.

http://www.forexfactory.com/showpost...&postcount=881
Ghost Rider - WWTBMD?
  • #115
  • Feb 23, 2010 6:02am Feb 23, 2010 6:02am
When you see price moving to your fib and tou are getting ready for your position. At what point do you call it a signal to officially enter. Or I guess what is the triger?

I may have missed something in the thread somewhere.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #116
  • Edited 8:43am Feb 23, 2010 8:25am | Edited 8:43am
I just made an interesting observation.

I placed fibs on the 2/18 candle which I think is the master candle we are working with. On EU

What I discovwered is astounding to my brain cell. A weekly and all the daily pivots lined up with key fib levels. Plus as you see from the price action movment occured on some.

Another thing I have done is set up negative fib levels so fibs are drawn in both directions.

Am I crazy. Or crazy like a fox? I am afraid you have turned me on to a whole new field of fibs for me.

Rufus
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #117
  • Feb 23, 2010 10:19am Feb 23, 2010 10:19am
Quoting albchr
Yep it happens buddy. Hope you had a great weekend. Mine was awesome and it's just ending now...LOL

Taking a small bite here.

http://www.forexfactory.com/showpost...&postcount=881
Yep, unfortunately it happens but it is life. Can't win them all even though you would like to. I myself had a great weekend too, except the fact that my back has been hurting. I myself am looking for 04/15 to come around so I can take a big vacation. The wife doesn't know yet. I hope she isn't too mad when I tell her she is staying home...lol...j/k.
  • #118
  • Feb 23, 2010 10:22am Feb 23, 2010 10:22am
Quoting Rufus
When you see price moving to your fib and tou are getting ready for your position. At what point do you call it a signal to officially enter. Or I guess what is the triger?

I may have missed something in the thread somewhere.

Rufus
Rufus,

Many times I have the level predetermined because there are trend lines there, MA's there, some pattern forming etc.. I do usually try to pull the trigger after I get a 5M candle conformation but doesn't always work as I found out yesterday...lol.
  • #119
  • Feb 23, 2010 10:27am Feb 23, 2010 10:27am
Quoting Rufus
I just made an interesting observation.

I placed fibs on the 2/18 candle which I think is the master candle we are working with. On EU

What I discovwered is astounding to my brain cell. A weekly and all the daily pivots lined up with key fib levels. Plus as you see from the price action movment occured on some.

Another thing I have done is set up negative fib levels so fibs are drawn in both directions.

Am I crazy. Or crazy like a fox? I am afraid you have turned me on to a whole new field of fibs for me.

Rufus
Rufus,

Excellent job and Welcome to the next level... You figured it out exactly how I did way back when, by just playing around. Now the trick is to watch and learn how the PA reacts with the fib levels. Another amazing thing is the fib always seems to land right on a line of a pattern, i.e. triangle top, falling wedge bottom, etc.. That's how I know when and where to enter.

C.
  • #120
  • Feb 23, 2010 11:12am Feb 23, 2010 11:12am
Quoting Ctic
Rufus,

Many times I have the level predetermined because there are trend lines there, MA's there, some pattern forming etc.. I do usually try to pull the trigger after I get a 5M candle conformation but doesn't always work as I found out yesterday...lol.
Rufus,

I forgot to mention that usually on a lower tf, the PA is at a 161.8 fib line. That is why I use the multiple tf fibs. If the 1H fib is at the 50 fib, the 15M at the 161.8 and the 5M fib at the 161.8, time to hit it for the opposite way.

C.
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