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Better-than-the-wormhole 555 replies

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The WoRmHoLe

  • #5,821
  • Mar 29, 2010 1:50pm Mar 29, 2010 1:50pm
azim be prepared to for this to break up to the top according to me i think theres a very high probability if 1.50 manages to break and we close above it ..i reckon u need to change your bias


note to all..
remember..a trendline can be drawn through any 2 points in space..what makes its valid is the 3rd touch

trade safe my friend!!
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  • #5,822
  • Mar 29, 2010 5:22pm Mar 29, 2010 5:22pm
Quoting kalparker
Hey guys I love this thread, I can always compare your trade ideas with mine to atleast feel a bit more confidant. I was wondering on your thoughts on gbp.jpy? I've just gone short, but am not sure if that was a good idea. I went short because I don't think it'll be able to break the 1 day 50 moving average.
hi kal.
I think it's a bit tough to say if you've done the right thing given how the day had ranged. In my eyes dragon is still bullish, bar the D1 where this is still in a major downtrend. So, I guess it depends what you are trying to achieve from the trade. If positioning for a large move, you might have a shout since 140 level is a major resistance level & hasn't cleared the 50% retrace level. That being said, the past few weeks, uy had been driving gy up, so this could still punch thru 140 as the dx is still bullish. A bit confusing, reason why I had not been trading gy lately.
Trade safe
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Thank You
  • #5,823
  • Mar 29, 2010 5:26pm Mar 29, 2010 5:26pm
Quoting nAVIN2007
azim be prepared to for this to break up to the top according to me i think theres a very high probability if 1.50 manages to break and we close above it ..i reckon u need to change your bias

that had been the plan all long nav

Quoting wormboy
Okay, good stuff. Always stick to your guns

Yes, my cable sell is still on.
I'll be going into next week still looking to sell rallies (scalping excluded).
D1 bearish flag is valid. Previous H4 close before friday's fixing also indicated that buyers are not yet in control. Will only look to revert to buying if price can close above 5000 handle.
Will still sell unless 5000 is taken out. Good luck bro
Thank You
  • #5,824
  • Edited 10:26pm Mar 29, 2010 9:55pm | Edited 10:26pm
Quoting wormboy



Will still sell unless 5000 is taken out.
....move should come soon.
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  • #5,825
  • Edited 12:19am Mar 30, 2010 12:09am | Edited 12:19am
long GY / 138.28, GU 14995. let's see how this goes
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  • #5,826
  • Mar 30, 2010 12:20am Mar 30, 2010 12:20am
Quoting ams
Gaby, you are doing very well.

What do you use for charting?

ta
ams
Ty ams, for All the charts I use MT4.

Opened 2 more trades,
Short GBPJPY @ 138.552 SL 139.24 and TP 137.01
Short EurJpy @ 124.50 SL 125.12 and TP 123.25

Cable has been just 12 pips away from TP, hopefully won't go down now lol
"Hate the sin, love the sinner." - Gandhi
  • #5,827
  • Mar 30, 2010 12:30am Mar 30, 2010 12:30am
Hey Azim,

Don't know if you were back in my thread but my Skype is

Ctico.

Talk to you later, definately a lot more after 04/15.

C.
  • #5,828
  • Mar 30, 2010 12:42am Mar 30, 2010 12:42am
Quoting wormboy
that had been the plan all long nav



Will still sell unless 5000 is taken out. Good luck bro
I think you may get it right sticking to shorting guns, the upmove has lost momentum now. Good luck Wormie
"Hate the sin, love the sinner." - Gandhi
  • #5,829
  • Mar 30, 2010 12:59am Mar 30, 2010 12:59am
Quoting TheGabriel
http://cdn.forexfactory.com/attachme...7&d=1269684821

EURGBP buy @ 0.89262 closed at 0.89941 +18 pips
reversed to sell

New trade
EURGBP sell @ 0.89941 SL 0.90338 and TP 0.89110

GBP has strength. Cable buy @ 1.4878 still running +75pips now, tp at 1.5040
Cable buy at 1.48781 TP hit at 1.5039 +160pips
I think EJ and GJ short can hit SL now... too high for me to buy them again.
"Hate the sin, love the sinner." - Gandhi
  • #5,830
  • Edited 1:15am Mar 30, 2010 1:01am | Edited 1:15am
Quoting Fudomyo
long GY / 138.28, GU 14995. let's see how this goes
closed my trades GU 1.5040 + 45, GY 139.05 +77

the internet guy is here. perfect timing.

see you guys in a few days.
  • #5,831
  • Mar 30, 2010 1:05am Mar 30, 2010 1:05am
Quoting Fudomyo
closed my trades GU 1.5040 + 45, GY 139.05 +77

the internet guy is here.....
Fast money Good job!
"Hate the sin, love the sinner." - Gandhi
  • #5,832
  • Mar 30, 2010 1:14am Mar 30, 2010 1:14am
Quoting TheGabriel
Fast money Good job!
cheers!

Nicely done on your trade!

I'm moving today and tomorrow so the cable guy's standing here waiting for me to close my trade so he can disconnect the hikari router....

lol

I'll be back online in a day or so.
  • #5,833
  • Mar 30, 2010 1:15am Mar 30, 2010 1:15am
Quoting Fudomyo
cheers!

Nicely done on your trade!

I'm moving today and tomorrow so the cable guy's standing here waiting fo me to close my trade so he can disconnect the hikari router....

lol

I'll be back online in a day or so.
See you soon bro, good to have you here.

Let the cable guy do his job lol

Quote
I think EJ and GJ short can hit SL now... too high for me to buy them again.
SL HIT ON EJ -63pips and GJ -70 pips
Aud is a straight up move, wow. TP is 20 pips away
"Hate the sin, love the sinner." - Gandhi
  • #5,834
  • Mar 30, 2010 1:25am Mar 30, 2010 1:25am
Quoting TheGabriel
I think you may get it right sticking to shorting guns, the upmove has lost momentum now. Good luck Wormie
Good day sir, I would love to know how you trade. Good luck sir, in your trading, thou you don't seem to need it...
  • #5,835
  • Mar 30, 2010 2:21am Mar 30, 2010 2:21am
Hi wormie...

I have a question for u... Normally, how much drowdown u tolerate in your scalp? i know it may vary.. it depend on many things and so on.. but maybe u have some average or some max drowdown that u accept before closing your scalp

Thanks ... and keep with your great work
I don't want a job, i want money!
  • #5,836
  • Mar 30, 2010 3:02am Mar 30, 2010 3:02am
Quoting dario1002
Hi wormie...

I have a question for u... Normally, how much drowdown u tolerate in your scalp? i know it may vary.. it depend on many things and so on.. but maybe u have some average or some max drowdown that u accept before closing your scalp

Thanks ... and keep with your great work

hi dario.

Normally it's 10 pips, but there are times where I'll allow larger drawdown (up to 20 pips), depending on the setup or the position size. But under normal conditions where the trade size is 1 full lot (100k) it is usually 10 pips risk. And normally they are mental stops.
Chart below is an example of 2 scalp positions I took earlier, where the max drawdown would not have exceeded 10 pips.
Hope that helps
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Thank You
  • #5,837
  • Mar 30, 2010 3:04am Mar 30, 2010 3:04am
Quoting Naijapipholi
Good day sir, I would love to know how you trade. Good luck sir, in your trading, thou you don't seem to need it...
I can't find the post where I reply to jimmynoodles about the way I trade, I don't want to move the topic in a different direction.

The most important thing of my strategy is that I place SL above or below last high/low and I use a take profit that is double the stop loss. If I could find a way to tighten the SL to even better a 3xSL=TP would be even better.

Look at the chart I posted here to see how I place SL and TP.
http://cdn.forexfactory.com/attachme...7&d=1269684821
"Hate the sin, love the sinner." - Gandhi
  • #5,838
  • Mar 30, 2010 3:05am Mar 30, 2010 3:05am
Quoting wormboy
hi dario.

Normally it's 10 pips, but there are times where I'll allow larger drawdown (up to 20 pips), depending on the setup or the position size. But under normal conditions where the trade size is 1 full lot (100k) it is usually 10 pips risk. And normally they are mental stops.
Chart below is an example of 2 scalp positions I took earlier, where the max drawdown would not have exceeded 10 pips.
Hope that helps
Now 10 pips is a great stop loss, you must have damn fast execution and patience to get scalps with that stop loss
"Hate the sin, love the sinner." - Gandhi
  • #5,839
  • Mar 30, 2010 3:12am Mar 30, 2010 3:12am
Quoting wormboy
hi dario.

Normally it's 10 pips, but there are times where I'll allow larger drawdown (up to 20 pips), depending on the setup or the position size. But under normal conditions where the trade size is 1 full lot (100k) it is usually 10 pips risk. And normally they are mental stops.
Chart below is an example of 2 scalp positions I took earlier, where the max drawdown would not have exceeded 10 pips.
Hope that helps

Of course it helps!! thank u for your reply. If i may ask more... Do these 10 pips include spread? it may seems to be a very picky question, but in my case spread is 3 pips... which are rather "important" in the short term scalp.
I don't want a job, i want money!
  • #5,840
  • Mar 30, 2010 3:19am Mar 30, 2010 3:19am
Quoting TheGabriel
Now 10 pips is a great stop loss, you must have damn fast execution and patience to get scalps with that stop loss
yes .. sometimes it's like transmitting morse code
there are times where exiting slipped tho due to connection .. but hey ... you gotta pay your dues sometime
Thank You
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