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  • #1,041
  • Apr 6, 2010 9:16am Apr 6, 2010 9:16am
those are very good entries. i am looking to go short on euro at 3350. thats the only trend trade on my radar.

are you using the original h4, 50%fib system or the new one on dailies



Quoting bez3000
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
  • #1,042
  • Apr 6, 2010 9:41am Apr 6, 2010 9:41am
I am going to use both strategies, i am trading of h4 and daily, i am looking for is a good retracement hopefully to a S&R area that lines up with 50% fib if not i will watch what price does at S&R or 50% whichever it gets to first.
I am thinking of placing two trades instead of one and following one with 100pip stop and letting the other half of the trade run adding to it on pull backs like Dans new strategy so in a way combining them. Any thoughts on this?
I will be watching usdjpy to see if it makes it back to 9150/200 area for a long. Also the eurjpy to see if it makes it back to 12450/500.

What is your reasoning behind going short euro at 3350?



Quoting coolshades
those are very good entries. i am looking to go short on euro at 3350. thats the only trend trade on my radar.

are you using the original h4, 50%fib system or the new one on dailies
  • #1,043
  • Apr 6, 2010 9:59am Apr 6, 2010 9:59am
my 50% is at 3427 which is just below a key s/r at 3440 ish on h4. i should have gone short at 34 but missed it and hence looking at an entry at 34 on a retracement or a short further down at 3350.

i am undecided on the new strategy because it requires large stops (maybe as much as 500-1000 pips) and i am not comfortable with those. let's see.



Quoting bez3000
I am going to use both strategies, i am trading of h4 and daily, i am looking for is a good retracement hopefully to a S&R area that lines up with 50% fib if not i will watch what price does at S&R or 50% whichever it gets to first.
I am thinking of placing two trades instead of one and following one with 100pip stop and letting the other half of the trade run adding to it on pull backs like Dans new strategy so in a way combining them. Any thoughts on this?
I will be watching usdjpy to see if it makes it back to 9150/200 area for a long. Also the...
  • #1,044
  • Apr 6, 2010 10:09am Apr 6, 2010 10:09am
That is a big stop, i don't plan on using anything like that size stop. I think that after your first entry is at BE the risk for the whole move is greatly reduced as if your 2nd or 3rd entry does not work and you loose pips your profit from the first entry will offset this. So if you think of the whole move as one trade once your first entry reaches BE the draw down for the move as a whole should be very small.
Not sure if i have explained my thinking very well please let me know if i have not.
Dan, not sure if this is the way you view it but it is just my interpretation.



Quoting coolshades
my 50% is at 3427 which is just below a key s/r at 3440 ish on h4. i should have gone short at 34 but missed it and hence looking at an entry at 34 on a retracement or a short further down at 3350.

i am undecided on the new strategy because it requires large stops (maybe as much as 500-1000 pips) and i am not comfortable with those. let's see.
  • #1,045
  • Apr 6, 2010 10:17am Apr 6, 2010 10:17am
wld help if you explained wiht examples.

for eg: you have an entry at 3550, sl for which is 3650 i assume. that has now been moved to be or to + 100.

so how would sls be for next orders?

Quoting bez3000
That is a big stop, i don't plan on using anything like that size stop. I think that after your first entry is at BE the risk for the whole move is greatly reduced as if your 2nd or 3rd entry does not work and you loose pips your profit from the first entry will offset this. So if you think of the whole move as one trade once your first entry reaches BE the draw down for the move as a whole should be very small.
Not sure if i have explained my thinking very well please let me know if i have not.
Dan, not sure if this is the way you view it but it...
  • #1,046
  • Apr 6, 2010 10:43am Apr 6, 2010 10:43am
Quoting coolshades
my 50% is at 3427 which is just below a key s/r at 3440 ish on h4. i should have gone short at 34 but missed it and hence looking at an entry at 34 on a retracement or a short further down at 3350.

i am undecided on the new strategy because it requires large stops (maybe as much as 500-1000 pips) and i am not comfortable with those. let's see.
Hi guys,

I know I haven't gone into full details about my daily trade system yet but I will explain in full as time goes on... I just want to be 100% sure about things before I tell other people how to do it! Lol!

Anyhow... with regards to stops; my initial stop loss isn't that large - it's normally in the region of 200/250 pips. It still takes some getting used to because as I add to trades the stop will change depending on circumstances such as how steep the trendline is etc... but generally speaking that is the sort of size I am looking at.

I do think though that everyone who is having success with H4 and has the time to trade that way should stick with it! It's a totally viable way to trade and it is only that I wanted less screen time that I switched to daily. That said, daily trading is surprisingly much less stressful... I mean I thought it would be a bit less stressful but I am shocked at how much calmer I am about longer term trades! Perhaps I've just been lucky so far! Fingers crossed that luck sticks with me a little while longer!

Regards,

Dan
  • #1,047
  • Apr 6, 2010 11:44am Apr 6, 2010 11:44am
Dan any comments on my trades? Would you have entered differently or managed them differently? Just after any feedback you can give.


Quoting bez3000
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
  • #1,048
  • Apr 6, 2010 1:44pm Apr 6, 2010 1:44pm
Quoting bez3000
Dan any comments on my trades? Would you have entered differently or managed them differently? Just after any feedback you can give.
Hi bez,

I think they are all good entries. In fact I have the same three trades within fairly close proximity to yours so I have to believe they are good!!

I want to see EUR/USD break the 1.33/1.34 barrier... when/if it does I think 1.29 is on the cards.

EUR/AUD seems to keep dropping and I will keep adding shorts as it goes!

USD/CHF - the thing that concerns me is the trouble it is having breaking the old down-trendline (please see chart). I have marked two lines, red is off highs, yellow off the close (as I pay attention to both). If we can clear this area I will feel better about the trade and be looking to hit 1.0900 next.

I'm not very good at making predictions so by no means do I expect any of that to happen! It's just my thoughts on what I would like to see happen.

Regards,

Dan
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  • #1,049
  • Apr 7, 2010 2:57pm Apr 7, 2010 2:57pm
I entered long on the bounce of 61.8% fib, red arrow, and just closed for +200, i closed full position becasue we might get another retrace before breaking through upper trendline or we might go back down
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  • #1,050
  • Apr 8, 2010 12:20am Apr 8, 2010 12:20am
Thinking the same thing you are Sohail, i am looking to close this morning for +180 for the same reason :-)

Quoting Sohail786
I entered long on the bounce of 61.8% fib, red arrow, and just closed for +200, i closed full position becasue we might get another retrace before breaking through upper trendline or we might go back down
  • #1,051
  • Apr 9, 2010 3:44pm Apr 9, 2010 3:44pm
Quoting bez3000
Thinking the same thing you are Sohail, i am looking to close this morning for +180 for the same reason :-)

its good to be on the safe side, rather than watching 200pips go to zero or further

ive done that before
  • #1,052
  • Apr 12, 2010 9:48am Apr 12, 2010 9:48am
anyone else entered short on EUR/AUD?
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  • #1,053
  • Apr 12, 2010 12:58pm Apr 12, 2010 12:58pm
hey Sohail.............am not short EUR/AUD but short GBP/AUD......doing nicely soo far.......abit wary the EUR........................
Quoting Sohail786
anyone else entered short on EUR/AUD?
  • #1,054
  • Apr 13, 2010 6:45am Apr 13, 2010 6:45am
Are people still expecting EURUSD to continue it's fall? The Greece announcment caused quite a bullish move up this weekend. It's currently outside it's daily trendline.
  • #1,055
  • Apr 13, 2010 8:07am Apr 13, 2010 8:07am
Quoting jcalow
Are people still expecting EURUSD to continue it's fall? The Greece announcment caused quite a bullish move up this weekend. It's currently outside it's daily trendline.
Hi,

In my opinion the recent rally was just a knee-jerk/reactionary move due to the Greece bailout news. I don't really believe that anything has fundamentally changed so I see more EU losses ahead.

From a technical perspective, although the daily trendline has been taken out, key support/resistance above in the 1.37/1.38 area must be broken before I would consider a change of trend to take place.

Regards,

Dan
  • #1,056
  • Apr 13, 2010 9:33am Apr 13, 2010 9:33am
also gap still to be closed.

Quoting DanUK
Hi,

In my opinion the recent rally was just a knee-jerk/reactionary move due to the Greece bailout news. I don't really believe that anything has fundamentally changed so I see more EU losses ahead.

From a technical perspective, although the daily trendline has been taken out, key support/resistance above in the 1.37/1.38 area must be broken before I would consider a change of trend to take place.

Regards,

Dan
  • #1,057
  • Apr 13, 2010 11:06am Apr 13, 2010 11:06am
When one considers gaps in Forex, you must remember that the data feed fir most users is controlled by the broker. Therefore what might appear as a gap may not be.

If gap closing is a self fulfilling as most use retail data, then the issue is mitigated.

Just sharing so that your aware of this, if you have not looked at it.

link to market chart at open on EURUSD.
http://www.forexfactory.com/showthre...44#post3628944

Take care,
BR
  • #1,058
  • Apr 16, 2010 5:26am Apr 16, 2010 5:26am
Quoting Big1red9
When one considers gaps in Forex, you must remember that the data feed fir most users is controlled by the broker. Therefore what might appear as a gap may not be.

If gap closing is a self fulfilling as most use retail data, then the issue is mitigated.

Just sharing so that your aware of this, if you have not looked at it.

link to market chart at open on EURUSD.
http://www.forexfactory.com/showthre...44#post3628944

Take care,
BR
That is a very true statement, I have gaps on my MT4 platform as many folks do right now, but on my live account I show no gaps, so what may look like a gap with one broker may not be a gap with another.

--NM
  • #1,059
  • Apr 16, 2010 5:31am Apr 16, 2010 5:31am
Quoting NightMoves
That is a very true statement, I have gaps on my MT4 platform as many folks do right now, but on my live account I show no gaps, so what may look like a gap with one broker may not be a gap with another.

--NM
that can be true sometimes but when you have a 160+ gap its a gap on all brokers platforms

the size will vary depending on broker open/close times is all but its there on everyones
Don't chase the market, Let the market come to you
  • #1,060
  • Apr 16, 2010 6:02am Apr 16, 2010 6:02am
Quoting Tmac
that can be true sometimes but when you have a 160+ gap its a gap on all brokers platforms

the size will vary depending on broker open/close times is all but its there on everyones
All??? I don't have a gap....
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