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Silent Service Method

  • #8,281
  • Apr 23, 2010 5:16pm Apr 23, 2010 5:16pm
Quoting clockwork71
the first time you get a couple of handles on a trade....
Sorry Chris, I'm not sure what this means. I have heard of a 'cup and handle' chart pattern, but I think that might be the only time.

I better consult 'Pring' on this.
  • #8,282
  • Apr 23, 2010 7:49pm Apr 23, 2010 7:49pm
Quoting jharvey407
Sorry Chris, I'm not sure what this means. I have heard of a 'cup and handle' chart pattern, but I think that might be the only time.

I better consult 'Pring' on this.
I think handle means major S/R areas, such as winning a trade from 1.50 - 1.55 could be said to have been a one handle win, 1.50 - 1.60 could have been two handles.

Not a very good explanation, Chris can probably do a better job.
  • #8,283
  • Apr 23, 2010 7:58pm Apr 23, 2010 7:58pm
Handle is a round number.....

so from 1.50 to 1.51 is 1 handle. Or 100 pips.....
  • #8,284
  • Apr 23, 2010 8:12pm Apr 23, 2010 8:12pm
Quoting clockwork71
Handle is a round number.....

so from 1.50 to 1.51 is 1 handle. Or 100 pips.....
I blame my mistake on a late Friday night
  • #8,285
  • Apr 23, 2010 8:59pm Apr 23, 2010 8:59pm
Quoting jharvey407
You obviously got in before I did. Do you mind posting a chart of your entry?
I just bought when it closed back above 93.
Position trader - Anything intraweek is just noise...
  • #8,286
  • Apr 24, 2010 7:38am Apr 24, 2010 7:38am
Quoting Arfer Daily
I just bought when it closed back above 93.
I see. I waited for a break and test of 93. Which I got on the daily. Plus it was just below the 1 2 3 entry so I figured I would just wait.

Nice entry.
  • #8,287
  • Apr 24, 2010 12:44pm Apr 24, 2010 12:44pm
Quoting jharvey407
I see. I waited for a break and test of 93. Which I got on the daily. Plus it was just below the 1 2 3 entry so I figured I would just wait.

Nice entry.
I wouldn't say it was the best entry I've ever had but it was obviously on the up and I liked the chances of it carrying on. I suppose instinct comes into it a bit but of course I could easily have been wrong, it's the way it goes.

That trendline at the top looks interesting.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy trendline.gif Size: 34 KB
Position trader - Anything intraweek is just noise...
  • #8,288
  • Apr 24, 2010 2:23pm Apr 24, 2010 2:23pm
Quoting Arfer Daily
I wouldn't say it was the best entry I've ever had but it was obviously on the up and I liked the chances of it carrying on. I suppose instinct comes into it a bit but of course I could easily have been wrong, it's the way it goes.

That trendline at the top looks interesting.

I have this theory that any entry can be good if:

A) It's with the prevailing trend at the moment.
B) You have a wide enough stop.
C) You are comfortable with said stop.
  • #8,289
  • Apr 24, 2010 2:57pm Apr 24, 2010 2:57pm
Quoting clockwork71
I have this theory that any entry can be good if:

A) It's with the prevailing trend at the moment.
B) You have a wide enough stop.
C) You are comfortable with said stop.
Well said.
  • #8,290
  • Apr 25, 2010 8:10am Apr 25, 2010 8:10am
Quoting jharvey407
Well said.

To be honest - I think "C" is most important of all.....
  • #8,291
  • Apr 25, 2010 8:23am Apr 25, 2010 8:23am
"A" has got me out of trouble on a few occasions but yes, you have to be comfortable with the stop.

Chris
  • #8,292
  • Apr 25, 2010 12:45pm Apr 25, 2010 12:45pm
Abbot Labs, check it out.....I included the 50 and 200 EMA on the chart.....200 is a very popular MA with stock traders.
Attached Image (click to enlarge)
Click to Enlarge Name: abbot.png Size: 75 KB
  • #8,293
  • Apr 25, 2010 3:27pm Apr 25, 2010 3:27pm
Trying out new software.....

here is link to a video I was messing with:

http://www.thetraderguy.com/usdjpyap...yapril2010.mp4
  • #8,294
  • Apr 25, 2010 5:48pm Apr 25, 2010 5:48pm
Quoting clockwork71
Trying out new software.....

here is link to a video I was messing with:

http://www.thetraderguy.com/usdjpyap...yapril2010.mp4
Nice vid Chris, is that metatrader charts you are using?
Position trader - Anything intraweek is just noise...
  • #8,295
  • Apr 25, 2010 7:11pm Apr 25, 2010 7:11pm
Hi All,

First time post here. Almost 20% of the way through your fine thread (started about 4 hours ago) and it is a really great insight into understanding PA!!

Like many before me I am practising placing S/R levels on charts for the first time in this "range based" manner.

Would one of the longer standing contributors to this thread be kind enough to post a weekly chart with S/R levels on it for GOLD and also maybe a daily or 4hr (whichever is most relevant at present in your opinion) showing some of the minor support areas.

I am having difficulty on this particular chart differentiating the main areas of S/R from those that are minor spots (targets to place stops behind/to take profits in counter trend trades).

I have not traded with bare PA in this manner before and this would be of great assistance to me. Also, sending these as a PM is also fine if you don't want to clutter the thread with a basic noobie request.

CW, many thanks for your generosity in putting together and maintaining this thread.

Cheers,

4x.
  • #8,296
  • Apr 26, 2010 12:00am Apr 26, 2010 12:00am
Chris is a big fan of the $1000 level, since you won't find a bigger, rounder (psychological) number.

But here's my charts:

http://i43.tinypic.com/acs9ko.png

http://i43.tinypic.com/23ie5c9.png
  • #8,297
  • Apr 26, 2010 2:34am Apr 26, 2010 2:34am
nice to see you here 4X addict . looking forward to your insights for GJ ( as far as i remember this is a pair u love to trade )
this is by far the best thread around . hope u will enjoy it
cheers
samer

Quoting 4xAddict
Hi All,

First time post here. Almost 20% of the way through your fine thread (started about 4 hours ago) and it is a really great insight into understanding PA!!

Like many before me I am practising placing S/R levels on charts for the first time in this "range based" manner.

Would one of the longer standing contributors to this thread be kind enough to post a weekly chart with S/R levels on it for GOLD and also maybe a daily or 4hr (whichever is most relevant at present in your opinion) showing some of the minor support areas.

I am having...
  • #8,298
  • Apr 26, 2010 3:36am Apr 26, 2010 3:36am
Quoting samer960
nice to see you here 4X addict . looking forward to your insights for GJ ( as far as i remember this is a pair u love to trade )
this is by far the best thread around . hope u will enjoy it
cheers
samer
Hey mate,

To be honest have been looking for people trading PA like this for ages, very excited!!

Hope your well and still cleaning up

I do love the G/J and I look forward in the coming months and years to giving it back the smacking it's handed me so many times.

Cheers.
  • #8,299
  • Edited 3:41am Apr 26, 2010 3:36am | Edited 3:41am
[quote=Low;3669807]Chris is a big fan of the $1000 level, since you won't find a bigger, rounder (psychological) number.


Thanks so much for this Low, it is really appreciated.

See you all in another 400 odd pages!!

4x.
  • #8,300
  • Apr 26, 2010 7:15am Apr 26, 2010 7:15am
[quote=4xAddict;3670235]
Quoting Low
Chris is a big fan of the $1000 level, since you won't find a bigger, rounder (psychological) number.


Thanks so much for this Low, it is really appreciated.

See you all in another 400 odd pages!!

4x.

For what it's worth, I agree with Low's charts. Thanks for reading through this thread, and welcome.

I should state that the $1000 level is important to me for a long term trade. If I get my entry there (finally), I would be aiming for at least $300.

Chris
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