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Intraday price action trend trading

  • #2,721
  • May 17, 2010 11:42pm May 17, 2010 11:42pm
Quoting Tang63
Can't believe I traded a lot today. They are all winners. I trade them at the same time.

short UC - 10 pips on the last red candle.

Long GU - 14 pips. Move the stop loss too close to the price, Missing some.

Long EU - 20 pips.
Nice pips just be careful trading multiples eg trading usd/chf and eu together theyre usually corellated if one goes bad on you the other more than likely will aswell
  • #2,722
  • May 17, 2010 11:53pm May 17, 2010 11:53pm
Quoting francis2
Nice pips just be careful trading multiples eg trading usd/chf and eu together theyre usually corellated if one goes bad on you the other more than likely will aswell
No wonder if I lose. it will lose all the time. EU & GU have the same exact movement as well.
  • #2,723
  • May 18, 2010 12:15am May 18, 2010 12:15am
This time, I get into EU and UJ train.
  • #2,724
  • May 18, 2010 12:26am May 18, 2010 12:26am
the 3. longtrade , i am back to normal, take profit 30 pips
Attached Image
  • #2,725
  • May 18, 2010 12:28am May 18, 2010 12:28am
I keep moving stop loss on EU and UJ. Both of them stopped out.

I got EU +30 pips and UJ +10 pips.

I thiink today is trending day.
  • #2,726
  • May 18, 2010 12:41am May 18, 2010 12:41am
Old bad habit came back again - getting in too early.

Lost -6 and -8 pips for going long on GU and UJ with M1 chart.

Also, it is the third move for GU already.
  • #2,727
  • May 18, 2010 12:50am May 18, 2010 12:50am
EU + EJ BE

Did i missmanage this 2 Inside bar trades ?

Tp was 1:2 on both and EJ missed the target by 10 pips...

first one is ej second is eu
Attached Images
Never whishing, always trading.
  • #2,728
  • May 18, 2010 1:00am May 18, 2010 1:00am
Quoting Hova
EU + EJ BE

Did i missmanage this 2 Inside bar trades ?

Tp was 1:2 on both and EJ missed the target by 5 pips...

first one is ej second is eu
Hi Hova,

I'm not yet convinced that the strict 1:2 tp is the way to go. I took 34 pips on the same EU trade but got out based on the fact that:

1. It was a big unusual move (possibly 5th wave)
2. It had just broken the R/N and was likely to test it at least
3. 34 pips is a good run for the EU without a pullback

Eric is very successful and I don't believe he holds out for set targets - he seems to grab a handful of pips while the move is strong and then jumps ship. I'd much prefer to have his smooth equity curve than rely on a few big wins like I do - to make up for all my poor judgement.

Dave
  • #2,729
  • May 18, 2010 1:11am May 18, 2010 1:11am
I keep moving the stop loss, just like traling stop, to the location I like.

I got two scripts to move the stop loss and TP by "drag and drop" the script into the position of the chart where you want.

Does anyone want it?
  • #2,730
  • May 18, 2010 1:20am May 18, 2010 1:20am
-6 pips breakout thru the resistance line
maybe gambling, but with a small stoploss?
Attached Image
  • #2,731
  • May 18, 2010 1:28am May 18, 2010 1:28am
short usdchf sl already trailed to B/E while i was writing this post
Attached Image
  • #2,732
  • May 18, 2010 1:30am May 18, 2010 1:30am
Quoting MJurban
-6 pips breakout thru the resistance line
maybe gambling, but with a small stoploss?
Hi MJ
Where did you have your stoploss?
  • #2,733
  • May 18, 2010 1:34am May 18, 2010 1:34am
Quoting Milton
Hi MJ
Where did you have your stoploss?
the red horizontl line, but already drawn to B/E see the new pic

tp at 1,1280 the green line
Attached Image
  • #2,734
  • May 18, 2010 1:38am May 18, 2010 1:38am
Quoting Milton
Hi MJ
Where did you have your stoploss?

Milton, normaly the stoploss was to long, but it was only for the worst scenario, cause i was watching eu as well and as soon as eu would retrace, i am ready to close usdchf
  • #2,735
  • May 18, 2010 1:40am May 18, 2010 1:40am
Quoting Sutts


Hi Hova,

I'm not yet convinced that the strict 1:2 tp is the way to go....
Hi mate

Long time no speak, but I have been watching and learning from all the local warriors.

I agree with you . Lately I move my sl very quickly and only go for speed. If price hesitates slightly I tp.

This morning I had 4 trades so far. No losses, but only 5, 7,8 and 9 pips profit.

  • #2,736
  • May 18, 2010 1:50am May 18, 2010 1:50am
Quoting MJurban
short usdchf sl already trailed to B/E while i was writing this post
closed B/E, this short dit not reach the tp
  • #2,737
  • May 18, 2010 1:54am May 18, 2010 1:54am
Quoting matlobien
Hi mate

Long time no speak, but I have been watching and learning from all the local warriors.

I agree with you . Lately I move my sl very quickly and only go for speed. If price hesitates slightly I tp.

This morning I had 4 trades so far. No losses, but only 5, 7,8 and 9 pips profit.


Hi matlobien,

Well done. Small pips but they soon add up don't they? I think I should be working that way too. I've got a 34 and a B/E so far but fortunes can change very quickly for me!

Dave
  • #2,738
  • May 18, 2010 1:57am May 18, 2010 1:57am
Divergence is setting in. I'm staying out of longs on EU/EJ/GU for now.
  • #2,739
  • May 18, 2010 2:14am May 18, 2010 2:14am
Quoting Sutts
Hi matlobien,

Well done. Small pips but they soon add up don't they? I think I should be working that way too. I've got a 34 and a B/E so far but fortunes can change very quickly for me!

Dave
6 trades = 46 pips.

I am finished for the day.

  • #2,740
  • May 18, 2010 2:21am May 18, 2010 2:21am
Quoting matlobien
6 trades = 46 pips.

I am finished for the day.

Excellent result, keep it up (and maybe teach me something too!)
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