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Silent Service Method

  • #7,841
  • Apr 6, 2010 7:56am Apr 6, 2010 7:56am
see attached chart:
Attached Image (click to enlarge)
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  • #7,842
  • Apr 6, 2010 10:59am Apr 6, 2010 10:59am
Quoting clockwork71
see attached chart:
Looks like it's broken that trendline now, obviously we need to wait for the close of todays candle but would you be interested in a long if it bounced off the top of that trendline it just broke?

By the way, I've been reading your thread for a while now and have a short on eurgbp I took on the 19th of March from the weekly rejection of that weekly trendline. I also have nzdusd short and chfjpy short I took last night after the price action around the 89 level.

Thanks for taking the time to teach your simple but effective method.
Position trader - Anything intraweek is just noise...
  • #7,843
  • Apr 6, 2010 2:22pm Apr 6, 2010 2:22pm
Quoting Arfer Daily
Looks like it's broken that trendline now, obviously we need to wait for the close of todays candle but would you be interested in a long if it bounced off the top of that trendline it just broke?

By the way, I've been reading your thread for a while now and have a short on eurgbp I took on the 19th of March from the weekly rejection of that weekly trendline. I also have nzdusd short and chfjpy short I took last night after the price action around the 89 level.

Thanks for taking the time to teach your simple but effective method.

Thanks for the post....

As far as the AUD....I am not interested in going long against the USD at the moment.....ALTHOUGH I CAN SEE THE LOGIC. It just looks "choppy" up above.....

Chris
  • #7,844
  • Apr 6, 2010 3:05pm Apr 6, 2010 3:05pm
Quoting clockwork71
Thanks for the post....

As far as the AUD....I am not interested in going long against the USD at the moment.....ALTHOUGH I CAN SEE THE LOGIC. It just looks "choppy" up above.....

Chris
I've got 94 as a level, maybe if it broke that it would be better?

My nzdusd stopped out at break even today but eurgbp is storming. Would you be put off by the multiple upwards trendlines that could be drawn on this pair right now or are the horizontals more important? I'm trailing behind the 4 hour swing highs at the moment and it's going fine, I'd love it to break 84 and carry on!

I've had some really good trades since I've been trading this way.
Position trader - Anything intraweek is just noise...
  • #7,845
  • Apr 6, 2010 3:49pm Apr 6, 2010 3:49pm
VIVA BARCELONAAAAAAAAAAAAAAAAAAAA !!!!!!!!!!!!!!!!!!!!!!
  • #7,846
  • Apr 6, 2010 8:53pm Apr 6, 2010 8:53pm
Quoting Arfer Daily
I've got 94 as a level, maybe if it broke that it would be better?

My nzdusd stopped out at break even today but eurgbp is storming. Would you be put off by the multiple upwards trendlines that could be drawn on this pair right now or are the horizontals more important? I'm trailing behind the 4 hour swing highs at the moment and it's going fine, I'd love it to break 84 and carry on!

I've had some really good trades since I've been trading this way.
Yeah, 94 looks a lot more interesting as an entry point.....or maybe I should say after we clear it....

As for the EUR/GBP, I think sooner or later - it's going to break.....it's really a matter of three possible scenarios for you:

A) T/P, and then wait for another entry as we are still in the triangle.
B) Let it roll....like me, and that damn NZD/USD trade I have been in for about 4 months now.
C) T/P, and then it breaks down....if that happens - well....look for a break of those lines - and short it from there.

Either way, let the market tell you what to do.....be patient.
  • #7,847
  • Apr 6, 2010 8:58pm Apr 6, 2010 8:58pm
Quoting wh1zz0
VIVA BARCELONAAAAAAAAAAAAAAAAAAAA !!!!!!!!!!!!!!!!!!!!!!
I hardly recognized him.....being an Argentinian, isn't he required by law to dive every 5 minutes or so in a match?

  • #7,848
  • Apr 6, 2010 10:01pm Apr 6, 2010 10:01pm
CAD/JPY is breaking the hell out. Makes sense....if you think about it, this could be 110% about oil. Canada makes it....Japan imports 100% it's fuel.
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  • #7,849
  • Apr 6, 2010 10:52pm Apr 6, 2010 10:52pm
With crude ranging higher and Cad being a pretty strong currency as of today...I do think the .9500/.9600 area is in play. The box play also confirms along with my fib projection.

Sell the rallies my friends and hold for lower prices.






good hunting,


golferfx
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  • #7,850
  • Apr 7, 2010 1:32am Apr 7, 2010 1:32am
Quoting clockwork71
Yeah, 94 looks a lot more interesting as an entry point.....or maybe I should say after we clear it....

As for the EUR/GBP, I think sooner or later - it's going to break.....it's really a matter of three possible scenarios for you:

A) T/P, and then wait for another entry as we are still in the triangle.
B) Let it roll....like me, and that damn NZD/USD trade I have been in for about 4 months now.
C) T/P, and then it breaks down....if that happens - well....look for a break of those lines - and short it from there.

Either way, [i]let...
Thanks for the reply. I see what you mean, the main worry support wise is the trendline from the 22/6/09 via 6/8/09 and 28/1/10. It's not a very strong trendline though is it? I think I might hold on and just trail the stop closely, if it bounces significantly it'll take me out and I'll have given some profit away, if it carries on down I'll still be in for the ride. Reasonably tricky call, thanks for the advice.

I have 93 as a level on Cadjpy but I can see that a bounce from 90 would make more sense. Really good thread throwing up some really good ideas. Where else do you get possible trades flagged up days before they happen?

I'm interested in diversifying into trading other things, shares, futures, whatever. I like Metatrader charts, is there a Metatrader broker who offers a good range of commodities, etc? If not can anyone recommend a broker who offers a good range of instruments but with a reasonable charting system (trading on the chart). I hate Java charts that you can't save easily. Thanks. (by the way I'm trading micro lots at the moment)
Position trader - Anything intraweek is just noise...
  • #7,851
  • Apr 7, 2010 5:16am Apr 7, 2010 5:16am
Quoting Arfer Daily
Thanks for the reply. I see what you mean, the main worry support wise is the trendline from the 22/6/09 via 6/8/09 and...
Another relevant way of looking at the cAD/jPY's current price position is to halve the distance between the 97 and 90 price levels, to find a workable median "level" (= 93.5). One could also take the Fibo from the 11/07 swing high and note the 50% is very near 97. (Something to keep in mind if it continues to climb...)

And you may want to check-out a brokerage called "ODL Markets" because if I recall they've got MT4 as a primary interface to the other indices you referred to.

Otherwise I don't have much experience with brokers outside Oanda, whom utilize Java or server side charting. My current preference for stock/future/option trading is MB Trading and they have a very competitive platform, which comes with charts. (Only their Forex platform is MT4.) Of course I'd recommend them as a brokerage w/o hesitation for any other trading including but not limited to Forex.

Anyway, I'd be curious to what you find as well...

Thanks
  • #7,852
  • Apr 7, 2010 6:36am Apr 7, 2010 6:36am
Quoting Arfer Daily
Thanks for the reply. I see what you mean, the main worry support wise is the trendline from the 22/6/09 via 6/8/09 and 28/1/10. It's not a very strong trendline though is it? I think I might hold on and just trail the stop closely, if it bounces significantly it'll take me out and I'll have given some profit away, if it carries on down I'll still be in for the ride. Reasonably tricky call, thanks for the advice.

I have 93 as a level on Cadjpy but I can see that a bounce from 90 would make more sense. Really good thread throwing up some really...
For smaller accounts, you can do CFDs....for oil, gold, etc. To be honest, I don't know who's good or bad - we can't trade those here in the USA. I k now ODL offers them to a certain extent. Maybe one of the other guys here can point you in the right direction?
  • #7,853
  • Apr 7, 2010 6:38am Apr 7, 2010 6:38am
Just for fun....

http://www.placingtraders.com/
  • #7,854
  • Apr 7, 2010 8:41am Apr 7, 2010 8:41am
Quoting clockwork71
I hardly recognized him.....being an Argentinian, isn't he required by law to dive every 5 minutes or so in a match?


LOL... That kid is just too too too good!
  • #7,855
  • Apr 7, 2010 9:03am Apr 7, 2010 9:03am
Quoting Soca
Another relevant way of looking at the cAD/jPY's current price position is to halve the distance between the 97 and 90 price levels, to find a workable median "level" (= 93.5). One could also take the Fibo from the 11/07 swing high and note the 50% is very near 97. (Something to keep in mind if it continues to climb...)

And you may want to check-out a brokerage called "ODL Markets" because if I recall they've got MT4 as a primary interface to the other indices you referred to.

Otherwise I don't have much experience with brokers outside...
Thanks for the tips on cad/jpy and the broker.

I think I have looked at ODL and they are Russians? I'll have to recheck, I'd prefer something FSA or US regulated (no offence if you are Russian, still...). I have found a company called activtrades who offer a good range of things to trade but on the demo account the feed only goes back a year or so so I can't really put weekly s/r levels on it. I don't know if it's the same on their live feed? I had the idea of just finding the levels from another chart provider, java if necessary, and plotting the s/r levels onto the data available. I'm wondering if it's because they're futures they're only providing the history from the open of the contract? It's a little off putting either way, maybe I'll stick with forex for a bit?

Clockwork, you mention IB in previous posts (way back in the thread). I have looked at them but you need to deposit and trade in larger sizes than I am ready for at the moment. What is the charting like on that? I like the idea of having the tabs at the bottom like Metatrader so you don't have to constantly be loading charts. I suppose with stocks and futures you may just be stuck with having to do that.

Anyway, thanks all for the advice, I'll keep my eyes open for what is available and I'm sure I'll find something good soon.

By the way, my ChfJpy trade closed out at tp for +140 pips, just wanted to take a little from this trade as it's a range type trade rather than a trend.
Position trader - Anything intraweek is just noise...
  • #7,856
  • Apr 7, 2010 10:27am Apr 7, 2010 10:27am
Quoting Arfer Daily
Thanks for the tips on cad/jpy and the broker.

I think I have looked at ODL and they are Russians? I'll have to recheck, I'd prefer something FSA or US regulated (no offence if you are Russian, still...). I have found a company called activtrades who offer a good range of things to trade but on the demo account the feed only goes back a year or so so I can't really put weekly s/r levels on it. I don't know if it's the same on their live feed? I had the idea of just finding the levels from another chart provider, java if necessary, and plotting...
You may be thinking of Alpari which is Russian, although with a UK division.

ODL is purely British as far as I know
  • #7,857
  • Apr 7, 2010 11:18am Apr 7, 2010 11:18am
Quoting Arfer Daily
Thanks for the tips on cad/jpy and the broker. I think I have looked at ODL and...
You're welcome and congrats on your Cad/Jpy trade.

And just to be clear, according to ODL Markets' website they're headquartered in London and Japan, registered with the FSA and a member of both the London Stock Exchange and NYSE.

Otherwise if you're just looking for a free and accessible charting site, then the best suggestion I have for you is NetDania dot com. Of course, if you're willing to put up w/a Java feed, you'd get the major indices from Europe and the U.S., including key commodities and a sh!+ tonne of currencies! So when you're at the main page just click on the reduced trade station image/snapshot on the screen; it will route you to the demo/live feed.

Have fun!
  • #7,858
  • Apr 7, 2010 11:36am Apr 7, 2010 11:36am
Quoting o990l6mh
You may be thinking of Alpari which is Russian, although with a UK division.

ODL is purely British as far as I know
D'oh! Thanks for that. I actually use Alpari and find them ok. You are both right, ODL are FSA regulated.
I think I'll look into them further to assess whether they would be good to use. They mention spread betting a little too much which spells daily rollover charges, etc. I'll see.
Position trader - Anything intraweek is just noise...
  • #7,859
  • Apr 7, 2010 11:36am Apr 7, 2010 11:36am
Quoting Soca
You're welcome and congrats on your Cad/Jpy trade.

And just to be clear, according to ODL Markets' website they're headquartered in London and Japan, registered with the FSA and a member of both the London Stock Exchange and NYSE.

Otherwise if you're just looking for a free and accessible charting site, then the best suggestion I have for you is NetDania dot com. Of course, if you're willing to put up w/a Java feed, you'd get the major indices from Europe and the U.S., including key commodities and a sh!+ tonne of currencies! So when you're...
Great, thanks for your help.
Position trader - Anything intraweek is just noise...
  • #7,860
  • Apr 7, 2010 2:01pm Apr 7, 2010 2:01pm
Hey guys,

I just started reading this thread. I am on page 16 now, and I intend to read the entire thread.

I just wanted to thank everyone for the time and effort.

I am just starting to trade again, after taking a long break. As look back over my trading history most of the best trades were long TF trades. That is what I am concentrating on now, so I expect this thread to be very useful.

Thanks
JH
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