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  • #1,641
  • May 19, 2010 11:54am May 19, 2010 11:54am
Quoting lovejoy80
It wasnt a tip it was just his thoughts...he is also short from 1245!!

I can bet my house just on his thoughts, he is a little "CRYPTIC" though.

P.S no my shorts were not based on this I think I was short before LJ posted that.lol
  • #1,642
  • May 19, 2010 12:07pm May 19, 2010 12:07pm
Quoting nasir.khan
I can bet my house just on his thoughts, he is a little "CRYPTIC" though.

P.S no my shorts were not based on this I think I was short before LJ posted that.lol

If you guys want the books or courses for free pm me.

Only the guys from this thread
  • #1,643
  • May 19, 2010 12:18pm May 19, 2010 12:18pm
Quoting neutro
Hey guys.

I was lurking around here today, but couldn't post having a lot of work to do.

Well, to say it short and simple, today I lost 12% of my demo (thank god ) in 3 trades... Long silver (miscalculated lot sizing and ended up risking 10% instead of 1%...), long S&P and long GC (well, I won 1% here). Man, I'm so tired, haven't had a decent sleep in ages...

I've marked gold today in the morning as to sell at 1220 (fib, PPZ, EMA, with trend) but when price reached that level I was away... Bummer. It all went downhill from there.

Good news...
What rule did I break?

Yeah I've looked at that...nice and simple...but aggresive lot sizing...when trading like that its best just to put the trade on and then close down MT4 and let it go...thats pretty much what he/she has done just played some trends with aggresive lot sizing. I'm glad they are above the chap trading an EA that takes advantage of different broker prices.

Let me know how you get on with the book when you've read a bit...I dont get much time to read...but if it sounds good then I'll find time to read it.
  • #1,644
  • May 19, 2010 12:20pm May 19, 2010 12:20pm
Stopped out on my aggresive UC long...prices are taking a pause at the moment...gathering momentum for a push higher, maybe, we'll see. Same with AJ etc...support holding for the moment.

Leaving other UC trade in play and orders on AJ too.
  • #1,645
  • May 19, 2010 12:21pm May 19, 2010 12:21pm
Gold rebounded from its confluenced area I highlighted earlier...still glad I didnt take it after that strong move down...too risky for me.
  • #1,646
  • May 19, 2010 12:24pm May 19, 2010 12:24pm
Quoting uksnowman
yes could be an interesting one. Only thing that concerns me is the stop would need to be very large if you were to keep it above the last s/r level. With such a violent downmove, do you normally move your stop in quickly to protect against a quick reversal?
Yeah indded it does...you can see how I've played it in my previous post.

I'm looking for it to break hard down through this area...it is holding at the moment but it could just be building up momentum for a big push down...we shall see. If it pushed down hard through it then I'd want to move my SL quite quickly to above the PPZ it broke.
  • #1,647
  • May 19, 2010 12:29pm May 19, 2010 12:29pm
Quoting nasir.khan
I can bet my house just on his thoughts, he is a little "CRYPTIC" though.

P.S no my shorts were not based on this I think I was short before LJ posted that.lol
lol.

Nice simple trading yesterday Nasir...shows that if you play with the trend then the volatility can sure help...shame I was too slow to realise this lol.

Haven't looked in detail but are they all with roughly 2-3% risk per trade?
  • #1,648
  • May 19, 2010 12:31pm May 19, 2010 12:31pm
Breakout or reversal...I know which one I'd put my money on...
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  • #1,649
  • May 19, 2010 12:35pm May 19, 2010 12:35pm
Quoting lovejoy80
What rule did I break?

Yeah I've looked at that...nice and simple...but aggresive lot sizing...when trading like that its best just to put the trade on and then close down MT4 and let it go...thats pretty much what he/she has done just played some trends with aggresive lot sizing. I'm glad they are above the chap trading an EA that takes advantage of different broker prices.

Let me know how you get on with the book when you've read a bit...I dont get much time to read...but if it sounds good then I'll find time to read it.
Well, you said you were going to play H4.

And I thought EC didn't follow your breakout rules but it does in a way. Not entirely though because the retest didn't follow through (it broke, then retested and fell a bit, than came up and it didn't go down, it's a double retest in the same bar - you missed the first retest and went for the second).

Hope you don't mine me nagging. You did very well today considering market conditions.
  • #1,650
  • May 19, 2010 12:51pm May 19, 2010 12:51pm
Quoting neutro
Well, you said you were going to play H4.

And I thought EC didn't follow your breakout rules but it does in a way. Not entirely though because the retest didn't follow through (it broke, then retested and fell a bit, than came up and it didn't go down, it's a double retest in the same bar - you missed the first retest and went for the second).

Hope you don't mine me nagging. You did very well today considering market conditions.
I see what you mean on EC...it actually went ot the first FTA on the 1HR and then reversed in the same bar and I got in then...although I showed the 1HR chart I was actually trading off the 4HR but its clearer to see on the 1HR...but maybe I should have noticed that.

Yeah I know I played some 1HR stuff but I was much more cautious with them and also had my bias for the trade with the trend on 4HR and above so that gave me the confidence to pull the trigger...unlike yesterday where I was to focussed on the little one hour trends and not the much bigger picture.

Just looked at E/AUd...man that would have made my day holding that...never mind
  • #1,651
  • May 19, 2010 12:54pm May 19, 2010 12:54pm
Looks like we are gong to retrace and the current PPZ levels will hold for the time being...I'm not counter trending after these large moves and am firmly on the sidelines until tomorrow now.

This afternoons trades as follows:

U/C long @ 1.0533, SL 53, Exit @ 1.04800 = -53 / -1R
C/J short @ 87.12, SL 148, Exit @ 87.50 = - 38 / -0.26R
  • #1,652
  • May 19, 2010 2:58pm May 19, 2010 2:58pm
Quoting lovejoy80
lol.

Nice simple trading yesterday Nasir...shows that if you play with the trend then the volatility can sure help...shame I was too slow to realise this lol.

Haven't looked in detail but are they all with roughly 2-3% risk per trade?
Yeah they are all near 2%-3%.

Had a nice run today but market took away a little with gold long and others.

But made most of it back with oil long.
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  • #1,653
  • May 19, 2010 3:17pm May 19, 2010 3:17pm
Quoting nasir.khan
Yeah they are all near 2%-3%.

Had a nice run today but market took away a little with gold long and others.

But made most of it back with oil long.
Yeah that gold show down real fast.

Nice work on oil...what made you think that PPZ would hold...I didnt pull the trigger as we blew straight thorough the 72.60 PPZ earlier and the down move is very strong. Do you consider things like that or is it a case of ...see a major daily PPZ, go long? I'm trying to to establish whether I keep over analysing things too much and should be more automatic in my trading...if that makes sense?
  • #1,654
  • May 19, 2010 3:42pm May 19, 2010 3:42pm
gone long CJ and EU... will post charts and reasoning in the morning.
  • #1,655
  • May 19, 2010 3:51pm May 19, 2010 3:51pm
Quoting lovejoy80
Yeah that gold show down real fast.

Nice work on oil...what made you think that PPZ would hold...I didnt pull the trigger as we blew straight thorough the 72.60 PPZ earlier and the down move is very strong. Do you consider things like that or is it a case of ...see a major daily PPZ, go long? I'm trying to to establish whether I keep over analysing things too much and should be more automatic in my trading...if that makes sense?
CLM 1H will answer most of your questions.
.
  • #1,656
  • May 19, 2010 4:06pm May 19, 2010 4:06pm
Quoting nasir.khan
CLM 1H will answer most of your questions.
.
.
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  • #1,657
  • Edited 1:33am May 20, 2010 12:57am | Edited 1:33am
Just opened my charts to see a spike down in xxx/jpy pairs which has triggered my AJ shorts. Still long EU but CJ stopped out earlier.

EUR held up very well yesterday and as we saw on some of the non major pairs like EUR/AUD they soaree very high. I heard talk of ECB intervention but it's only rumour...but all I know is the EUR is the strongest out of the majors at the moment.

Also learning that should give my trend trades a bit more room...A/CAD and gold being a good example looking at todays chart and obviosuly EUR/AUD...though this area is approaching an interesting point now @ 1.5000

Missed the pullback on this but will play a break of the high PV style.
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  • #1,658
  • May 20, 2010 1:30am May 20, 2010 1:30am
I am short AJ from 75.90 - 2 positions one with SL of 260 pips and one with SL of 70 pips...be moving to BE soon 1% on each.

The yen is strengthening very fast...the volatility continues!

Postions from last night were long EU @ 1.2407 SL 107 - 1% - look how well EU is holding up when everything else falls. Also CJ long @ 87.86, SL 76, 1% - hit SL a while ago.

My E/CAD long also triggered @ 1.2894, SL 34 - 2% at risk.
  • #1,659
  • May 20, 2010 1:33am May 20, 2010 1:33am
Quoting lovejoy80
I am short AJ from 75.90 - 2 positions one with SL of 260 pips and one with SL of 70 pips...be moving to BE soon 1% on each.

The yen is strengthening very fast...the volatility continues!

Postions from last night were long EU @ 1.2407 SL 107 - 1% - look how well EU is holding up when everything else falls. Also CJ long @ 87.86, SL 76, 1% - hit SL a while ago.

My E/CAD long also triggered @ 1.2894, SL 34 - 2% at risk.
Hope you have a good day today. I'm going to stay out and study a bit.
  • #1,660
  • May 20, 2010 1:40am May 20, 2010 1:40am
Decided to move SL down on the more aggresive AJ entry to 76.25...so still above the PPZ we broke. and leave the conservative entry SL where it is...we are in a deep trend so I need to give it room...my targets are 75 (which we just hit and rebounded), 73.50 and 71 (looking at weekly chart).

Defintely lerning the hard way that when in a deep trend dont be quick to move to BE...its a fine balance between not tletting a winner turn into a loss and knowing when to give the trade some room. As I mentioned if I'd kept my ACAD and Gold trades from yesterday (gold 1Hr pin bar and ACAD break of support @ 8900 ) open I'd be about 13R by now.
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