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  • #1,021
  • Mar 30, 2010 4:54pm Mar 30, 2010 4:54pm
Quoting coolshades
all are short on cable based on what? as far as i can see the h4 closed above 50% fib.
hi cool

i don't know how you enter according to the 50% ret, but i want aleast a reaction to the 50% retracement (such as price stalling and starting to move back down), i don't look at close above or below the 50% ret and base my decsion on that( am sure you do look for other confluences as well), i was just highlighting how i use the 50% ret,

i am not sure how others do it, i hope i got the right concept here

and ofcourse taking othe factors into consideration such as trendline, horizontal S/R and round number confluence.

sohail
  • #1,022
  • Mar 31, 2010 6:44am Mar 31, 2010 6:44am
my cable short has stopped out. i will look at an AH trade now. i will not go long on cable unless price closes above 5340.

i am still in an euro short, which is surviving.

i am also long on usdchf which might get stopped out.

march doesnt seem to be a very good month for me, but thse things happen. been a long time since i had a losing month (even if it is a few % point growth each month)

Quoting Sohail786
hi cool

i don't know how you enter according to the 50% ret, but i want aleast a reaction to the 50% retracement (such as price stalling and starting to move back down), i don't look at close above or below the 50% ret and base my decsion on that( am sure you do look for other confluences as well), i was just highlighting how i use the 50% ret,

i am not sure how others do it, i hope i got the right concept here

and ofcourse taking othe factors into consideration such as trendline, horizontal S/R and round number confluence.

sohail
  • #1,023
  • Mar 31, 2010 9:05am Mar 31, 2010 9:05am
Quoting coolshades
my cable short has stopped out. i will look at an AH trade now. i will not go long on cable unless price closes above 5340.

i am still in an euro short, which is surviving.

i am also long on usdchf which might get stopped out.

march doesnt seem to be a very good month for me, but thse things happen. been a long time since i had a losing month (even if it is a few % point growth each month)

hi cool

what size stoploss did you use on cable? what was you entry point?

becasue am still in, with a 130 pip stop on cable (but only just), i use a wider stop on some pairs as the ATR is more than e/u and some others where i use the standard 100 pip stop

sohail
  • #1,024
  • Mar 31, 2010 10:23am Mar 31, 2010 10:23am
I am also only just in cable (about 20 pips).
AUDJPY trade going well from 8367.

Quoting coolshades
my cable short has stopped out. i will look at an AH trade now. i will not go long on cable unless price closes above 5340.

i am still in an euro short, which is surviving.

i am also long on usdchf which might get stopped out.

march doesnt seem to be a very good month for me, but thse things happen. been a long time since i had a losing month (even if it is a few % point growth each month)
  • #1,025
  • Mar 31, 2010 11:22am Mar 31, 2010 11:22am
Quoting Sohail786
hi cool

what size stoploss did you use on cable? what was you entry point?

becasue am still in, with a 130 pip stop on cable (but only just), i use a wider stop on some pairs as the ATR is more than e/u and some others where i use the standard 100 pip stop

sohail
cable trade stopped out, now waiting to apply anti-hedge
  • #1,026
  • Mar 31, 2010 11:44am Mar 31, 2010 11:44am
the way i trade hasnt changed from dan's original rules.

i use a 100 pip sl. i entered short at 5050 when h4 closed beneath 50% fib yesterday.

i will have an AH trigger at 5200.

i will not go long unless price closes above 5350 reason as below on daily chart.



Quoting Sohail786
hi cool

what size stoploss did you use on cable? what was you entry point?

becasue am still in, with a 130 pip stop on cable (but only just), i use a wider stop on some pairs as the ATR is more than e/u and some others where i use the standard 100 pip stop

sohail
  • #1,027
  • Mar 31, 2010 11:48am Mar 31, 2010 11:48am
Just entered short on eurusd @ 13533 reason are 50% fin and S&R area.
Anyone else in this.
Coolshades are you waiting for cable to go 50 pips past before you place AH or have you already placed it?
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.png Size: 83 KB
  • #1,028
  • Mar 31, 2010 11:50am Mar 31, 2010 11:50am
Quoting bez3000
Just entered short on eurusd @ 13533 reason are 50% fin and S&R area.
Anyone else in this.
Coolshades are you waiting for cable to go 50 pips past before you place AH or have you already placed it?

sorry ignore me i carn't count ha ha good luck with the trade.
  • #1,029
  • Edited 3:40pm Mar 31, 2010 12:11pm | Edited 3:40pm
yes 50 pips post stop out area.

i am actually now wondering if going short again is such a good idea.attached h4 chart. if you look at the chart, price has broken above the downward trendline, has close above the earlier upward trend line which had been breached and is following a very recent upward trendline. now, price has closed above 50% fib which is around 5100.

so while i do have an AH sell at 5200, i might close that at 5150 and go long.

let's see.



Quoting bez3000
Just entered short on eurusd @ 13533 reason are 50% fin and S&R area.
Anyone else in this.
Coolshades are you waiting for cable to go 50 pips past before you place AH or have you already placed it?
  • #1,030
  • Mar 31, 2010 3:43pm Mar 31, 2010 3:43pm
chart for earlier post
Attached Image
  • #1,031
  • Apr 1, 2010 5:47pm Apr 1, 2010 5:47pm
Quoting Sohail786
anyone consider GBP/USD?

bounce of ppz, 50%, round number, with trend, bounce of daily trend line

if anyone can coment on that trade as to why it went wrong? or possible reasons for a lossing trade
the only reason i can think of, is that price tried to make a new low since starting of march, but failed on multiple attempts to make a new low, which i think one should be always aware off (or i should be aware of that i deeper retracement could be coming),
ive been burnt to many times and just keep forgetting them

or maybe it was just one of those trades that didn't work out.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 21 KB
  • #1,032
  • Apr 1, 2010 5:57pm Apr 1, 2010 5:57pm
Greece.

http://www.marketwatch.com/story/aid...k=MW_news_stmp

http://www.reuters.com/article/idUSN...pe=usDollarRpt

http://online.wsj.com/article/BT-CO-...rss_Currencies

http://www.ozcarguide.com/business-m...reece-bankrupt

Quoting Sohail786
if anyone can coment on that trade as to why it went wrong? or possible reasons for a lossing trade
the only reason i can think of, is that price tried to make a new low since starting of march, but failed on multiple attempts to make a new low, which i think one should be always aware off (or i should be aware of that i deeper retracement could be coming),
ive been burnt to many times and just keep forgetting them

or maybe it was just one of those trades that didn't work out.
  • #1,033
  • Apr 2, 2010 3:26am Apr 2, 2010 3:26am
Hi Sohail,

That trade caught me as well, i put it down to you can't win them all no matter how good your strategy.

Quoting Sohail786
if anyone can coment on that trade as to why it went wrong? or possible reasons for a lossing trade
the only reason i can think of, is that price tried to make a new low since starting of march, but failed on multiple attempts to make a new low, which i think one should be always aware off (or i should be aware of that i deeper retracement could be coming),
ive been burnt to many times and just keep forgetting them

or maybe it was just one of those trades that didn't work out.
  • #1,034
  • Apr 2, 2010 4:18pm Apr 2, 2010 4:18pm
Quoting Fx_Genius
Greece.

http://www.marketwatch.com/story/aid...k=MW_news_stmp

http://www.reuters.com/article/idUSN...pe=usDollarRpt

http://online.wsj.com/article/BT-CO-...rss_Currencies

http://www.ozcarguide.com/business-m...reece-bankrupt

hi fxgenius

i have a question

how do you keep upto date with all this news? i mean how do you know this sort of new is going to be released before it impacts the market, surely you would need to be sitting around and waiting for the news to be released or do you know before hand that some news is expected, just like the news we know about before hand like the NFP, PMI etc

what is the best way to keep track of this sort of news?, becasue it doesn't get listed on the forexfactory news calender because it also impacts the market

thanks
sohail
  • #1,035
  • Apr 2, 2010 4:22pm Apr 2, 2010 4:22pm
Quoting bez3000
Hi Sohail,

That trade caught me as well, i put it down to you can't win them all no matter how good your strategy.

yes i think that as well, just trying to investigate into my losers because i think it is the best way to learn from your losers

sohail
  • #1,036
  • Apr 2, 2010 7:49pm Apr 2, 2010 7:49pm
Quoting Sohail786
hi fxgenius

i have a question

how do you keep upto date with all this news? i mean how do you know this sort of new is going to be released before it impacts the market, surely you would need to be sitting around and waiting for the news to be released or do you know before hand that some news is expected, just like the news we know about before hand like the NFP, PMI etc

what is the best way to keep track of this sort of news?, becasue it doesn't get listed on the forexfactory news calender because it also impacts the market

thanks
sohail...
Let me write it up and I will post it later this weekend.
  • #1,037
  • Apr 3, 2010 4:58pm Apr 3, 2010 4:58pm
Quoting Fx_Genius
Let me write it up and I will post it later this weekend.


thanks looking forward to it
  • #1,038
  • Apr 4, 2010 1:07pm Apr 4, 2010 1:07pm
Hi Sohail,

Let me give you a little backround on my trading style.

I trade long time frames,with daily being the shortest. that said I will look at smaller when I get ready to enter but the trade is not based on smaller TF just the entry. I also do not trade the news! I run 50-100 SL/TS depending on what the market is doing and when I get about 20-30 pips profit I move my SL to BE + a few. It keeps the losers to a minimum.

My work (Both job and my own company) is about 80% computer based and most of the time I can keep an eye on the general news, world events, Fx news & data releases. There are times I am away from my desk and if I have a trade in or pending I can monitor on my phone if I need to. If I miss a trade opportunity because I am away, well, there will be more. There are always more trading opportunity's waiting for you.

Quoting Sohail786
hi fxgenius
i have a question

how do you keep upto date with all this news? i mean how do you know this sort of new is going to be released before it impacts the market, surely you would need to be sitting around and waiting for the news to be released or do you know before hand that some news is expected, just like the news we know about before hand like the NFP, PMI etc
In a word, Google. I use Chrome for my browser and iGoogle for my home page. They have better widgets for their home page than anybody else I have tried. I also don't have to read the whole news to get a feeling of what is happening in the world, usually just the headlines work. Links below to some of the widgets I use. I also use the FF calendar for data releases.

Remember, Charts, Pivot Points, 50% Fib, SR and all the other things you may or may not have on your chart are only as good as what is happening in the world. When the world is calm and running smoothly (as much as it can these days) these things are great tools for planing a trade.

Also remember that there are many connections to the US and the various countries in the EU that don't have direct ties to the E$ (What I trade mostly) that can have major effects on movement. IE US-China, (News Link) could effect the E$.

I also get a free news letter twice a week from what I think is the smartest person when it comes to global markets, Nouriel Roubini, and his company (link below). You might have to hunt for the news letter or sign up for a trial, also it is a pay site and not cheep! Last time I talked to them it was about 4-5k/month for the subscription. Their website has some stuff locked but still has a ton of great reading for free.

Almost Lastly, I use the one thing that is the least talked about because it is never ever ever to be used for trading (So I have read, and have stated myself a long time ago before I figured it out.) was your gut feeling. Many times i have seen a price and known that is the price to enter a trade and not entered because of trend, SR, etc. only to have a big movement that would have paid off greatly. This is not something I would jumping into without making a log of price / why / result and tracking performance, or use a demo account. If you get to a point that you think you can add it to your trading tools (It is a tool) and get the results you want, then start with small trades, it is different when you open a live trade.

Lastly, pick your own trades. Don't get in a trade because someone else does. If you agree that it is a good time to enter then do so, but use your own determination that it is a good trade to enter. You will have winners & losers, be happy with the winners and shrug off the losers, and make the losers smaller and less frequent then the winners and you should be alright. I have only 14 trades this year with 1 loser 3 even + a few. Couldn't tell you pips because I really don't care about pips. I want the money. My account is up about 30% so far this year, and it's not a big account by any means.

There is alot of info here, maybe read it more than once and let it sink in.

Good trading.

Quoting Sohail786
what is the best way to keep track of this sort of news?, becasue it doesn't get listed on the forexfactory news calender because it also impacts the market
Roubini Links:
http://en.wikipedia.org/wiki/Roubini_Global_Economics

http://www.roubini.com/

iGoogle Widget Links:
http://www.google.com/ig/directory?h...topstories.xml

http://www.google.com/ig/directory?h...s_business.xml

http://www.google.com/ig/directory?h...technology.xml

Google page Links:

http://news.google.com/news?hl=en

http://news.google.com/news?hl=en&topic=b

http://news.google.com/news?hl=en&topic=t
  • #1,039
  • Apr 4, 2010 1:20pm Apr 4, 2010 1:20pm
Quoting Fx_Genius
Hi Sohail,

Let me give you a little backround on my trading style.

I trade long time frames,with daily being the shortest. that said I will look at smaller when I get ready to enter but the trade is not based on smaller TF just the entry. I also do not trade the news! I run 50-100 SL/TS depending on what the market is doing and when I get about 20-30 pips profit I move my SL to BE + a few. It keeps the losers to a minimum.

My work (Both job and my own company) is about 80% computer based and most of the time I can keep an eye on the general...


i guess its just a matter of being infront of your screen, and a simple case of just watching out for what news is being released and whether it will impact the currencey traded

thanks very much for the links, i will added them to my list of things to keep an eye on before and while trading.

sohail
  • #1,040
  • Apr 6, 2010 10:56am Apr 6, 2010 10:56am
Hi All,

Would anyone like to share what trades they are in at the moment? Its gone a bit quite and i am interested in what people are seeing when they look at the current market.

I am in:
eurusd short from 13,550
usdchf long from 10,550
euraud short from 14,800 & 14,750
Attached Image(s) (click to enlarge)
Click to Enlarge Name: euraud.png Size: 111 KB
Click to Enlarge Name: eurusd.png Size: 82 KB
Click to Enlarge Name: usdchf.png Size: 108 KB
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