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Intraday price action trend trading

  • #2,761
  • Edited 8:02am May 18, 2010 7:50am | Edited 8:02am
You make me shame, but you are absolutely right, what we need as a thief is the speed!!

BTW, just thief 8 from long GU, a bunch up of pin, go go go

To Dave, see the last blue pin, what do you think...... hehe


Quoting matlobien
Hi my friend.

You will never know how much I have learned from just watching you.

You see I am also a thief. I steal with my eyes.

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  • #2,762
  • Edited 8:22am May 18, 2010 8:09am | Edited 8:22am
Don't want to confuse you guys so no chart, but just a quick one on EJ short before the r/n

more than enough today
  • #2,763
  • May 18, 2010 9:05am May 18, 2010 9:05am
Nice break out, short on EJ +13,

Cant pick that all, now more than 30
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  • #2,764
  • May 18, 2010 9:24am May 18, 2010 9:24am
Short after around 50% retrace, quick out with another 8
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  • #2,765
  • May 18, 2010 9:32am May 18, 2010 9:32am
Quoting Buildcity
Short after around 50% retrace, quick out with another 8
So when are you becoming a professional trader ?

Soon, I hope.

  • #2,766
  • May 18, 2010 9:48am May 18, 2010 9:48am
Quoting matlobien
So when are you becoming a professional trader ?

Soon, I hope.

Thks for your nice words, I still have long way to go like the other good players like Sho, Francis and Rob.

Same as you, some days ago some guys said my plays were so risky and small profit. But I do think this way suits my personality. Sho did strengthen on me that just keep on practice which way is the most suitable for me. So I do.

I do have bad days recently, but we need to believe our way.

Cheers mate
City
  • #2,767
  • May 18, 2010 10:08am May 18, 2010 10:08am
Quoting Buildcity
Hi all,

I'm home now and did a quick scaple on EJ with 8.

Look like all guys have all positive result

Today the market seems didnt move much, both my watch pairs (EJ & GU) have only 100 run. Seems to be a quite day.

Will join the party in & out as my children are surrounding.

Cheers
City

MJ, you have some special trainings? you really have good shoots now
Dave, I'm happy with my 20+ up to this moment, you are back to normal now, you cleared what struggling on you?
Melton & matlobien, well to see you guys here
I feel better now volatility is reducing again Eric. Had a few bad days when I watched the train leave without me most of the time and when I caught a ride it would throw me off and run me over!

I'm trying to become a thief like you but it's hard to know when to cut. Is there a rule of thumb you use to cut a trade e.g. if it hesitates more than 2 mins etc.?

I like the idea of regular small positive gains rather than bigger wins and more frequent losses. I'm only really looking for 20 pips a day really.
The hardest thing is taking 10 then seeing it run another 100.

Today I got 30 on live and 87 on demo so not a bad day.

Cheers,

Dave
  • #2,768
  • May 18, 2010 10:30am May 18, 2010 10:30am
Dave,

Give me sometime, my network really got problem. I actually have typed out my reply but lost everything.

City

Quoting Sutts
I feel better now volatility is reducing again Eric. Had a few bad days when I watched the train leave without me most of the time and when I caught a ride it would throw me off and run me over!

I'm trying to become a thief like you but it's hard to know when to cut. Is there a rule of thumb you use to cut a trade e.g. if it hesitates more than 2 mins etc.?

I like the idea of regular small positive gains rather than bigger wins and more frequent losses. I'm only really looking for 20 pips a day really.
The hardest thing is taking 10 then seeing...
  • #2,769
  • May 18, 2010 10:46am May 18, 2010 10:46am
Quoting trade price
gu did you noticed where it did reversed.
same lines 4 hour and 15 min chart added
Sho, the short from that supply zone (tripple top & IB) was worth the wait!
  • #2,770
  • Edited 11:10am May 18, 2010 10:59am | Edited 11:10am
Dave,

I think there is no trick. Remember what I posted last night (my time)? I would prefer to be the little lady, go straight in the trade if the setup is your favorite, cut it if the bar seems to be stop moving (like Matlobien said a few posts before, always pay high attention on the bar, look whether the SPEED is strong or not).

May be I only watch 2 pairs, (my limited equipment), sometime it really has its regular move. Also, in my opinion, play with 2 pairs is good enough for my daily target. No need to stick with 10+ pairs.

One little thing, I still trade with small capital, and once my target met, I switch down my $/lot. So the surplus for the day is bonus, otherwsie its a small loss. So all the way I can really clam to trade.

As Sho said, your entries are ok, all you need is buildup your confident, we all need to.

BTW, Hope I am not the boy who is trying to help the butterfly.

Just for sharing my own view.

PS - 2 mins to watch the bar to stay side way is stil too long for me, anything wrong, sharp cut. Keep your profit all the time. Think about 2 ten pips trades are good enough for your daily target. Its a lot easier than looking for 1 good trade with +20. My view.


Quoting Sutts
I feel better now volatility is reducing again Eric. Had a few bad days when I watched the train leave without me most of the time and when I caught a ride it would throw me off and run me over!

I'm trying to become a thief like you but it's hard to know when to cut. Is there a rule of thumb you use to cut a trade e.g. if it hesitates more than 2 mins etc.?

I like the idea of regular small positive gains rather than bigger wins and more frequent losses. I'm only really looking for 20 pips a day really.
The hardest thing is taking 10 then seeing...
  • #2,771
  • May 18, 2010 11:22am May 18, 2010 11:22am
Today the market is so quite, so stop now.

See you all.

  • #2,772
  • May 18, 2010 1:07pm May 18, 2010 1:07pm
Quoting Buildcity
Dave,

I think there is no trick. Remember what I posted last night (my time)? I would prefer to be the little lady, go straight in the trade if the setup is your favorite, cut it if the bar seems to be stop moving (like Matlobien said a few posts before, always pay high attention on the bar, look whether the SPEED is strong or not).

May be I only watch 2 pairs, (my limited equipment), sometime it really has its regular move. Also, in my opinion, play with 2 pairs is good enough for my daily target. No need to stick with 10+ pairs.

One little...

Sound advice Eric, thanks. I'm also only trading 2 pairs now - EU and GU - too much for my poor little brain otherwise.

I understand the need to see momentum before and during the trade. BUT, what happens if you enter and price goes against you from the start...how far will you let it go before you cut? If you're only aiming for a 10 pip profit then you can't afford to let price go against you much at all, especially if you immediately lose 3 pips on the spread. This is what makes me hesitant to go for smaller amounts. Perhaps the answer is to babysit entries on the 1M chart like Francis. I think he waits for price to do any retracement on the 1M first and enters when price is moving the right way past the intended entry point. This way you're entering with positive momentum from the start.

Cheers,

Dave
  • #2,773
  • May 18, 2010 4:12pm May 18, 2010 4:12pm
Quoting Sutts
Sound advice Eric, thanks....
yes Dave youve got to cut your losses quickly otherwise you need two trades to get back even, you can always get back in again and catch it cos as you say with spread and slippage its not easy getting out realistically with less than 6 pip loss anyway and its so easy to let that 6 become 12/15 then youre on the slippery slope unless youre dead certain of picking winners ,another thing I do is double up on trade after a loser although Im not advising this for everyone its my way of getting back in profit straight away
  • #2,774
  • May 18, 2010 10:47pm May 18, 2010 10:47pm
How hard to catch this 7, late entry anyway, so do it quick.
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  • #2,775
  • May 19, 2010 12:01am May 19, 2010 12:01am
Hi mate,

Have good pips this morning?
  • #2,776
  • May 19, 2010 12:24am May 19, 2010 12:24am
Good breakout trade, with great support of r/n
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  • #2,777
  • May 19, 2010 12:37am May 19, 2010 12:37am
Quoting Buildcity
Good breakout trade, with great support of r/n
Good morning mate.

Great advice there to Dave last night.

What does r/h means ?

  • #2,778
  • May 19, 2010 12:39am May 19, 2010 12:39am
Quoting matlobien
Good morning mate.

Great advice there to Dave last night.

What does r/h means ?

May be my typo, it should be round no, sort of 1.400,1.45 etc
  • #2,779
  • May 19, 2010 12:46am May 19, 2010 12:46am
(The last red, original blue upward pin)

Seems no more upward force, sharp cut with 4 only. I was chasing the price, better wait for another good setup.
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  • #2,780
  • May 19, 2010 12:47am May 19, 2010 12:47am
Quoting Buildcity
May be my typo, it should be round no, sort of 1.400,1.45 etc
Thanks.

Keep on posting. I am learning a lot.

Watch me, I am in your rear view mirror.

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