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The Dance

  • #221
  • Mar 18, 2010 7:03am Mar 18, 2010 7:03am
im trying to stick to the 3 main signals as well but the touch trades are the easiest to understand so im only trading that. touch a 35 with good angle enter! its thats simple

as for constrainments.... well i still cant fully grasp the idea so im staying away at the moment. i can sort of identify a constrainment?! and i know a big move is coming. but i dont know in which direction its gona move. and when to enter... mayb i needa read the manual a few more times.

as for 5/10EMAs.. well if u are in the direction of the trend, any entry is good. if u take the last 3 days of G/u action as an example, it was bouncing of the 5emas for like 8-10 bars in succession. same for the 10ema if u look at E/J.

thus touch trades are my main strategy for now until i sort out my issues with the master signal.
  • #222
  • Mar 18, 2010 7:03am Mar 18, 2010 7:03am
I hate it when price drivels the way I know it's going to go,,,, it's so much like sucking on nails! I know what's really going on is that everyone's waiting for the boat load of USD news that's coming out soon.... in about half an hour,,,, so if this pig doesn't move down so I can get my SL to BE without choking it out,,,I'll probably settle for a few tincy little pips and wait until after news to trade again.
  • #223
  • Mar 18, 2010 7:06am Mar 18, 2010 7:06am
Quoting yunielescaz
im trying to stick to the 3 main signals as well but the touch trades are the easiest to understand so im only trading that. touch a 35 with good angle enter! its thats simple

as for constrainments.... well i still cant fully grasp the idea so im staying away at the moment. i can sort of identify a constrainment?! and i know a big move is coming. but i dont know in which direction its gona move. and when to enter... mayb i needa read the manual a few more times.

as for 5/10EMAs.. well if u are in the direction of the trend, any entry is good....
Well said that man. I'm sure by sticking to the rules, I mean really dilligently, even a wet behind the ears newbie could overcome all the turmoil of starting out trading and be making pips right from the get go.
  • #224
  • Mar 18, 2010 7:07am Mar 18, 2010 7:07am
guys.. not a good time to hold positions. core CPI and unemployment claims in 25 mins. might get volatile in here
  • #225
  • Mar 18, 2010 7:12am Mar 18, 2010 7:12am
Quoting yunielescaz
guys.. not a good time to hold positions. core CPI and unemployment claims in 25 mins. might get volatile in here
yep,,, I'm out BE,, tired of waiting
  • #226
  • Mar 18, 2010 7:29am Mar 18, 2010 7:29am
I changed the colors on the Daily equivalents back to the normal colors so I could easily "see" which one it is and it seems that P/A is "stuck" between the Daily 10 and 35 equivalents at the moment,,, and we seem to have just been given a M15 "double top" exactly at the Daily 10 EMA equivalent. NOT going to trade it because of news,,, but that is the sort of thing I normally would jump on.
  • #227
  • Mar 18, 2010 7:35am Mar 18, 2010 7:35am
wow.. such boring news releases... i thought i could have jumped on the news train if CPI deviated. back to normal trading. and so im in again at the 35sma touch for E/u
  • #228
  • Mar 18, 2010 7:36am Mar 18, 2010 7:36am
Yep,,, I went ahead and took it short... + a few pips now,,,
  • #229
  • Mar 18, 2010 7:43am Mar 18, 2010 7:43am
daily S2 at 3668 might be a problem tho.. hope it breaks that for more downside to test the 3650 RN
  • #230
  • Mar 18, 2010 7:49am Mar 18, 2010 7:49am
yunie,,, what currency are you looking at,, the EJ is at 123.26,, and GU is at 1.529X. I don't see that number anywhere.


Aaaaaaaaaahhh,,,, you're trading the Eur/Usd,,
  • #231
  • Mar 18, 2010 8:40am Mar 18, 2010 8:40am
haha yes my bad.. been talking about the E/u all day. took profit at the bounce of the 4hr trend line. i didnt trade E/J cos the rules were talking about pair/session correlation.
  • #232
  • Mar 18, 2010 8:46am Mar 18, 2010 8:46am
Quoting yunielescaz
haha yes my bad.. been talking about the E/u all day. took profit at the bounce of the 4hr trend line. i didnt trade E/J cos the rules were talking about pair/session correlation.
EJ is ok, isn't it? We are in London/European session.
  • #233
  • Mar 18, 2010 8:48am Mar 18, 2010 8:48am
Yep,, EJ is just fine during the London session and I sometimes trade it during the NY as a continuation trade..

Yunie,,, that was what was causing the problems with out views of the charts. You were on EU I was on EJ.
  • #234
  • Mar 18, 2010 8:57am Mar 18, 2010 8:57am
Did anyone take the touch trade on cable off the H1 50 MA about 90 minutes ago? I was busy doing a run but it was absolutely textbook.

What SL would you use for a trade like that eclayf? If it had been 15-20, you'd have had two great trades like that today on cable with awesome R/R....

What's the best way to get a chart up?
  • #235
  • Mar 18, 2010 9:33am Mar 18, 2010 9:33am
Quoting Trotty
What SL would you use for a trade like that eclayf?
On "touch trades" off the 35 or 50 lines you never need more than about 12,, and most of the time, no more than about 7 pips. The shorter the better (within reason) because they can go against you and you want to mitigate the risk, but not choke out the trade.
  • #236
  • Mar 18, 2010 9:38am Mar 18, 2010 9:38am
Quoting eclayf
On "touch trades" off the 35 or 50 lines you never need more than about 12,, and most of the time, no more than about 7 pips. The shorter the better (within reason) because they can go against you and you want to mitigate the risk, but not choke out the trade.
Thaks again.

So just to be totally sure, you wouldn't increase it at all for a H1 touch, it's 12 top end regardless?
  • #237
  • Mar 18, 2010 9:49am Mar 18, 2010 9:49am
Quoting Trotty
Thanks again.

So just to be totally sure, you wouldn't increase it at all for a H1 touch, it's 12 top end regardless?

Nope,,, 12 should handle it most all the time. That is part of the strength of this strategy,,, BUT on D1 it's a bit different because the charts are so small you can't really see the touch happen. SO on D1, you might let it have a few more,,but not many.
  • #238
  • Mar 18, 2010 9:52am Mar 18, 2010 9:52am
By the way, just so anyone who is following this knows,,, that last short on EJ kicked me out as well,,, so,, "by the rules" I'm done for the day now. I'll be back on later tonight.

This week has had some really good trades,, and a few missed, and a few that failed,, overall,,, not a bad week to this point though,,,

Enjoy,,, later
  • #239
  • Mar 18, 2010 9:54am Mar 18, 2010 9:54am
Quoting Trotty
Thaks again.

So just to be totally sure, you wouldn't increase it at all for a H1 touch, it's 12 top end regardless?
First time commenter here. i have been doing fairly well trading off bounces of moving averages. takes a small leap of faith to enter a trade assuming that price will reverse direction simply because it hits a mov avg.

you entered this trade at about 8:30 am est. major news announcements at that time or near it. my experience is that if you get lucky power to you when you enter a trade at or near a new announcement. but if it turns against you, you might not get out of the trade until it runs past your stop and it might not retrace enough to break even or reduce your loss.

i saw the bounce off the h1 as well as monitoring the trade on the 15m and sincerely wanted to enter, but, news announcements scare the crap out of me and i try not to get into a trade near one.

i am waiting for the price to bounce off or break through the 55hour sma which is 30 pips away from the 55hr and the 50ema. breaks of that line tend to produce great moves.
  • #240
  • Mar 18, 2010 9:55am Mar 18, 2010 9:55am
Quoting eclayf
By the way, just so anyone who is following this knows,,, that last short on EJ kicked me out as well,,, so,, "by the rules" I'm done for the day now. I'll be back on later tonight.

This week has had some really good trades,, and a few missed, and a few that failed,, overall,,, not a bad week to this point though,,,

Enjoy,,, later
See ya fella, thanks for your help again
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