Islander and Medici trade the European open | Page 54 | Forex Factory

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Islander and Medici trade the European open

  • #1,061
  • Mar 2, 2010 3:21am Mar 2, 2010 3:21am
Quoting Islander
have you noticed that Euro's last 1m low was 76 (L) mins from the late FH high......
No I'm struggling to get start times that make sense to me.
  • #1,062
  • Mar 2, 2010 3:30am Mar 2, 2010 3:30am
Ok I'm outta here its had a 100 pip move. Going to see my mum amongst other things.

Missed out on most of the move up from 4850 which is missed opp number 7824. Having said that +4% for the day so thats good.
  • #1,063
  • Mar 2, 2010 3:33am Mar 2, 2010 3:33am
Quoting Vantage
Ok I'm outta here its had a 100 pip move. Going to see my mum amongst other things.

Missed out on most of the move up from 4850 which is missed opp number 7824. Having said that +4% for the day so thats good.
4%'s a nice morning ......my thoughts are with you and your Mum....
Trading Levels with WRBs
  • #1,064
  • Mar 2, 2010 3:53am Mar 2, 2010 3:53am
Signals and trades taken this morning.....the grey box was my target area for the last short trade. The fact that € dropped > 100 pips after LO and cable nil, holding at its MS1 level shows that there's support for higher prices in cable - I'm long.

Having said that, the Euro was a far better proposition for trading this session. However, pips banked, quota achieved and I'm finished till NY.......BFN
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #1,065
  • Mar 2, 2010 5:16pm Mar 2, 2010 5:16pm
Hi,

Thanks for the pivot times, my broker is the same as Islander so will use that.

Now for this timing stuff ................
Money grows on the tree of persistence
  • #1,066
  • Mar 3, 2010 12:28am Mar 3, 2010 12:28am
From my last post yesterday morning....

"The fact that € dropped > 100 pips after LO and cable nil, holding at its MS1 level shows that there's support for higher prices in cable - I'm long". Cable put on more than 100 pips, into 5075 ~2am gmt...

Half an hour ago there was a LH just above MR2 then another at MR2, a clear sell that dropped 38 pips, with another add on as it held under the falling fast 1m ema ~6am
Trading Levels with WRBs
  • #1,067
  • Mar 3, 2010 12:42am Mar 3, 2010 12:42am
In one of several long PMs yesterday, I was asked why I didnt post any losses, so I'll repeat what I have posted many times before.

I post charts of the signals as I see them. I've usually taken these and often more trades, but I do not publish my actual trades as this is not about how well - or how badly - I personally trade, its about showing - often in real time - a trading methodology.

I have not - and will not - publish my own trading rules and actual trading system - again its about what suits the individual and the regular posters all have slightly different aproaches.

Just for information, I have made 33 trades this week and had 8 loosers and my account is up 6.7%.

Now I will get on with my research and a little trading......
Trading Levels with WRBs
  • #1,068
  • Edited 6:52am Mar 3, 2010 1:12am | Edited 6:52am
2 lovely set ups on 5 min.
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  • #1,069
  • Mar 3, 2010 1:13am Mar 3, 2010 1:13am
Got to pop out to shops, have some guys here sorting out the irrigation and have to go buy some parts.
  • #1,070
  • Mar 3, 2010 1:16am Mar 3, 2010 1:16am
Quoting Vantage
I overslept this morning and missed these 2 lovely set ups on 5 min.
As set ups like these are pretty high prob I trade 1 lot per $10000 with a stop 1-1.5%. So 2 trades like this will prob end up around 3% or so for the day ...........

You don't have to hit 200 pip runs to make a serious income for yourself.
  • #1,071
  • Mar 3, 2010 1:45am Mar 3, 2010 1:45am
Quoting Vantage
As set ups like these are pretty high prob I trade 1 lot per $10000 with a stop 1-1.5%. So 2 trades like this will prob end up around 3% or so for the day ...........

You don't have to hit 200 pip runs to make a serious income for yourself.

Well said V - and nice trading. Once again, just use a fast MA and keep trading the retraces around it....

Now we've had a 1m HL off the 4975 level and I'm long....
Trading Levels with WRBs
  • #1,072
  • Mar 3, 2010 1:50am Mar 3, 2010 1:50am
The 50% retrace of the last 15m leg up is at 4980......this last fall lasted for 28 (L-1) bars.....and was 88 (L-1) 30m bars from yesterdays low....
Trading Levels with WRBs
  • #1,073
  • Mar 3, 2010 1:56am Mar 3, 2010 1:56am
[quote=Islander;3515717]Well said V - and nice trading. Once again, just use a fast MA and keep trading the retraces around it....

Now we've had a 1m HL off the 4975 level and I'm long....[/quote]

Price hit the 1m slow (150)ema at 5012 and halted.....its also late in FH, so I exited...this MA is still red, but flattening....
Trading Levels with WRBs
  • #1,074
  • Mar 3, 2010 1:58am Mar 3, 2010 1:58am
Nice trading V / Islander as always

Like ive said in the past i trade primarily tick charts and ride short term waves (i may leave the trade for longer depending on market conditions). I like to think however that I do look for similar setups as Islander and V, and I trade off PA... no indicators.

If you guys are happy to I would be happy to post some 1 tick charts up with entry and exits... but only if merdici / islander are cool with it. I dont want to hi jack your thread. Constructive feedback from you guys would be nice as I have much respect for the way you guys trade and im always looking to learn.

I also dont trade everyday.... not quite trading full time yet but im getting there (at least i like to think so)

PS. I use 1:25 leverage... slightly more aggressive but I keep my losses tight...
  • #1,075
  • Mar 3, 2010 1:59am Mar 3, 2010 1:59am
Ive taken longs from 82>88 and 00 to 11.... i like to keep my broker happy islander
  • #1,076
  • Mar 3, 2010 2:03am Mar 3, 2010 2:03am
Quoting Ausie_Trader
Nice trading V / Islander as always

Like ive said in the past i trade primarily tick charts and ride short term waves (i may leave the trade for longer depending on market conditions). I like to think however that I do look for similar setups as Islander and V, and I trade off PA... no indicators.

If you guys are happy to I would be happy to post some 1 tick charts up with entry and exits... but only if merdici / islander are cool with it. I dont want to hi jack your thread. Constructive feedback from you guys would be nice as I have much respect...

Thanks AT - and please do post your charts with info of what you saw - its always good to see different ways of skinning this FX cat....http://cdn.forexfactory.com/images/icons/icon7.gif
Trading Levels with WRBs
  • #1,077
  • Mar 3, 2010 2:18am Mar 3, 2010 2:18am
[quote=Islander;3515759]
Quoting Islander
Well said V - and nice trading. Once again, just use a fast MA and keep trading the retraces around it....

Now we've had a 1m HL off the 4975 level and I'm long....[/quote]

Price hit the 1m slow (150)ema at 5012 and halted.....its also late in FH, so I exited...this MA is still red, but flattening....

This was 77 (L+1) mins from the prior high...http://cdn.forexfactory.com/images/icons/icon12.gif and thus a nice sell into LO as a Medici type trade.

The push down was a v high vol 5m candle followed by a high vol doji at a HL. Whilst I had difficulty lining up time on my cable chart, € obliged with an "on time" low on its 1m and 5m charts.....so I bought.....
Trading Levels with WRBs
  • #1,078
  • Mar 3, 2010 2:33am Mar 3, 2010 2:33am
[quote=Islander;3515834][quote=Islander;3515759]


This was 77 (L+1) mins from the prior high...http://cdn.forexfactory.com/images/icons/icon12.gif and thus a nice sell into LO as a Medici type trade.

The push down was a v high vol 5m candle followed by a high vol doji at a HL. Whilst I had difficulty lining up time on my cable chart, € obliged with an "on time" low on its 1m and 5m charts.....so I bought.....[/quote]


Just closed after price got to just above the slow ma at 199 L mins from the earlier high.....http://cdn.forexfactory.com/images/icons/icon6.gif......plenty of pips banked and so now I'll be concentrating on more research rather than posting....
Trading Levels with WRBs
  • #1,079
  • Mar 3, 2010 2:41am Mar 3, 2010 2:41am
Freakish ability to pick reversals... im impressed islander

I havent taken anymore, and didnt have the balls to hit it a second time on the way up.
  • #1,080
  • Edited 6:53am Mar 3, 2010 3:13am | Edited 6:53am
I was sent a pm and asked some questions, if its OK I'll post reply here.

Q) I mentioned high prob trades in prev post, why/pls elaborate, why not just a norm retracement trade?

OK why high prob. 4hr moved up strongly in Asian session to strong down trendline (TL not shown). It stalled there and had a nice hesitation candle. So we are in a nice downtrend and its holding some key 4hr chart points.

First poss trade shown, left arrow down. Small candle shooting star and another very small positive candle that could not go above upper wick of shooting star. So no follow through on move up. The close of 5 min red candle confirms a move down likely in line with major trend.

2nd trade very similar move up with upper wick, a shooting star, couldn't break up above, pre FH typical range nowhere near getting hit.

15 min charts (not shown) vol picking up on down candles that are pretty much all closing on their lows.

For me good candles in line with overall major trend, 15 min vsa agreeing and likely session limits not close to being hit = enough for high prob trades. I'd also describe the waves down as clean, don't know how I'm going to explain that.

Q) Trade trigger 5 or 1 min. Personally I am better at getting these trades right when 1 and 5 minute candles are agreeing, ie the 1 min entry is same as 5 min candles close.
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