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Silent Service Method

  • #8,381
  • Apr 30, 2010 2:42pm Apr 30, 2010 2:42pm
Quoting clockwork71
I have 1.58 and 1.48 as major areas on my chart. But there is something else to be learned from your question.....

"I guess I'm not sure when to take the bounce and I seem to wait too long on a breakout."
[color=Black]
Trading is a very personal thing. Here's a good example: mbqb11 over in the J16 thread is a good trader in my opinion. However, he has told me in the past that he is horrible at range trading, and prefers breakout trading. This is why he doesn't bother with range trading.

There is...
Thanks Chris for your reply. I think maybe a few more weeks of practice on S/R for me will help. I feel fairly comfortable with this style of trading and feel confident it will work for me. I don't think 95% of long term traders lose. When you hear this quote it just says currency traders in general.I finally got profitable after studying your method. I still struggle a little with the best S&R locations. But continue to work at it.For me as low risk as possible with good money management is the key to the $. Thank you for all you do here to help people along the way. I know you may never meet most of us but we feel as if we already know you. Have a great weekend MR D. PS I also quit smoking 12 years ago after 22 years of allowing myself to be controled with it.
Jesus my Lord
  • #8,382
  • Apr 30, 2010 3:17pm Apr 30, 2010 3:17pm
Quoting Mr D.
Thanks Chris for your reply. I think maybe a few more weeks of practice on S/R for me will help. I feel fairly comfortable with this style of trading and feel confident it will work for me....
Thanks for the compliment.

I am glad to hear you are doing well, and I agree - I think most of the people that get hurt in this market are short term traders....

Chris
  • #8,383
  • Apr 30, 2010 3:21pm Apr 30, 2010 3:21pm
Quoting golferfx
Oh oh, Goldman Sachs caught with hand in the cookie jar...some say.

Brief history of Goldman via long term chart.

They sure get in trouble alot...could this be the last time ?



Good weekend,


golfer
Here's what I see. Parabolic trend line. These things get smashed sooner or later.
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  • #8,384
  • Apr 30, 2010 3:23pm Apr 30, 2010 3:23pm
Quoting Arfer Daily
Eurgbp is taking it's time to make it's mind up too, still below that triangle though, for the moment.
That's why I am still in it. Besides, Murphy's Law dictates that 15 minutes after I close out - it drops 400 pips.
  • #8,385
  • Apr 30, 2010 4:45pm Apr 30, 2010 4:45pm
Quoting clockwork71
That's why I am still in it. Besides, Murphy's Law dictates that 15 minutes after I close out - it drops 400 pips.
I'm still in it too, with a reasonable stop, so Chris... if you don't mind closing your position..
  • #8,386
  • Apr 30, 2010 7:50pm Apr 30, 2010 7:50pm
Quoting jharvey407
I'm still in it too, with a reasonable stop, so Chris... if you don't mind closing your position..
  • #8,387
  • Apr 30, 2010 8:01pm Apr 30, 2010 8:01pm
Here is a trick:

Keep and eye on ETFs, ETNs, and the like. If you see a sector or group showing signs of life, you can drill deeper into the actual underlying. Check out this decent example. All are weekly charts.
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  • #8,388
  • May 1, 2010 5:25am May 1, 2010 5:25am
Quoting clockwork71
Here is a trick:

Keep and eye on ETFs, ETNs, and the like. If you see a sector or group showing signs of life, you can drill deeper into the actual underlying. Check out this decent example. All are weekly charts.
Nice analysis. Mate you have got to open an OS account that lets you trade CFDs . These are all available in one MT4 account here in London.

Enjoy the weekend everyone.
  • #8,389
  • May 1, 2010 6:56am May 1, 2010 6:56am
Quoting clockwork71
Here is a trick:

Keep and eye on ETFs, ETNs, and the like. If you see a sector or group showing signs of life, you can drill deeper into the actual underlying. Check out this decent example. All are weekly charts.
Chris,

I really appreciate you posting you insights into other markets. I am learning quite abit about the correlation of the markets.

Thanks to you and the other contributors.

JH
  • #8,390
  • May 1, 2010 7:01am May 1, 2010 7:01am
Quoting 4xAddict
Nice analysis. Mate you have got to open an OS account that lets you trade CFDs . These are all available in one MT4 account here in London.

Enjoy the weekend everyone.
Who's that, odl securities/markets?
Position trader - Anything intraweek is just noise...
  • #8,391
  • May 1, 2010 11:55am May 1, 2010 11:55am
Quoting clockwork71
Update on yesterday's ABT chart.
I wouldn't throw in the towel on Abbott just yet. I'm not in this one, but oddly enough it caught my eye when I was scanning some stock tables in one of the weekend rags...then I caught up on about 8 pages worth of SS-Method posts and saw your post...and then of course I had to look at the updated chart. Weekly doesn't look so bad to me...

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Time will tell, but the fundamentals look decent and it pays a 3.5% dividend. I kinda like it...
  • #8,392
  • Edited May 2, 2010 10:39am May 1, 2010 5:13pm | Edited May 2, 2010 10:39am
I just realized that the month ended Friday. Which means I just finished my first month of trading the Silent Service Method.

Here are my results.

Trades 9
Wins 5
BE 1
Losses 3

Equity Increase +5% <----------

I have 3 trades open, which I will not count until they are closed.

I am still learning this method, but I believe I have grasped the basics. Now I need to concentrate on being patient and waiting for the highest probability setups.

I want to extend a HUGE thank you to those of you who have contributed to this thread.

James
  • #8,393
  • May 1, 2010 6:09pm May 1, 2010 6:09pm
Quoting jharvey407
I just realized that the month ended Friday. Which means I just finished my first month of trading the Silent Service Method.

Here are my results.

Trades 9
Wins 5
BE 1
Losses 3

Equity Increase - 5% <----------

I have 3 trades open, which I will not count until they are closed.

I am still learning this method, but I believe I have grasped the basics. Now I need to concentrate on being patient and waiting for the highest probability setups.

I want to extend a HUGE thank you to those of you who have contributed to this...

I assume that's a +5% by the smiley face, correct? If so, hot damn. Nice trading!
  • #8,394
  • May 1, 2010 6:09pm May 1, 2010 6:09pm
Quoting InfinitySL
I wouldn't throw in the towel on Abbott just yet. I'm not in this one, but oddly enough it caught my eye when I was scanning some stock tables in one of the weekend rags...then I caught up on about 8 pages worth of SS-Method posts and saw your post...and then of course I had to look at the updated chart. Weekly doesn't look so bad to me...

Attachment

Time will tell, but the fundamentals look decent and it pays a 3.5% dividend. I kinda like it...


I agree.....certainly worth keeping an eye on.
  • #8,395
  • May 2, 2010 8:04am May 2, 2010 8:04am
Not sure what reaction we will have to European efforts to prop up Greece over the weekend, but I am pretty sure any rally is a opportunity to short it......
  • #8,396
  • May 2, 2010 10:46am May 2, 2010 10:46am
Quoting clockwork71
I assume that's a +5% by the smiley face, correct? If so, hot damn. Nice trading!
Yeah it's + 5%, I edited the post for clarity.

I try not to get too excited by the occasional large equity increase, but I simply remind myself that they do help to average out the months with lesser gains.

I am trading on a very small scale right now. I plan on slowly increasing the size of my trading account. I also plan on diversifying into stocks as my skill level grows.

Let me just express once more my appreciation for all those that are contributing to this thread and to my learning.

It's Sunday morning and I am already starting to strategize for the upcoming week.

Good trading everyone!

JH
  • #8,397
  • May 2, 2010 11:32am May 2, 2010 11:32am
I am still short EURUSD. The trade is currently - 125, but still some room before the stop.

Please feel free to comment on the chart, as well as share your own analysis.

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  • #8,398
  • May 2, 2010 11:47am May 2, 2010 11:47am
I'm looking for the AUDCAD to break down. I know others are watching this also.

Comments?
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  • #8,399
  • May 2, 2010 11:55am May 2, 2010 11:55am
Any thoughts about EURGBP?

I am short and waiting to see the reaction tonight.
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  • #8,400
  • May 2, 2010 12:18pm May 2, 2010 12:18pm
I am long USDJPY for a couple of reasons. Price broke the downward trendline and resistance at 0.93. Price has tested the trendline as well as the 21 WK MA. Price has also breached the 1 2 3 bottom that formed on the WK chart.

Price is now holding above the 55 WK MA and the 0.93 support level.
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