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Effective 5M intraday trading

  • #121
  • Jun 2, 2010 1:36am Jun 2, 2010 1:36am
Quoting bbolss
read the ebook about cuj
this is called hiden div
so we might have now nice move down will see
Hi, very much like u said, it seems to be heading down.
whats this book u talk about? Mind directing me there?

thanks!
  • #122
  • Jun 2, 2010 1:44am Jun 2, 2010 1:44am
that's just my way of trading...no big deal...trading system is just a guide..you are the one who pull the trigger....
  • #123
  • Jun 2, 2010 1:50am Jun 2, 2010 1:50am
i took +30 here
nice final flag witch was also a reversal candle! with 1-2-3 break litle div on nolag macd and stoch good risk/reward
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  • #124
  • Jun 2, 2010 1:56am Jun 2, 2010 1:56am
nice bbolss
  • #125
  • Jun 2, 2010 1:59am Jun 2, 2010 1:59am
Quoting Destrader
Hi, very much like u said, it seems to be heading down.
whats this book u talk about? Mind directing me there?

thanks!
in 3rd post of this thread snusnufreak posted an litle ebook check it out!
  • #126
  • Jun 2, 2010 2:02am Jun 2, 2010 2:02am
Quoting bbolss
in 3rd post of this thread snusnufreak posted an litle ebook check it out!
Thanks. Seems like i entered a wrong trade just now? Can anyone point out my mistake? or was that a correct entry ? Thanks, i am rather confuse with the divergence thingy now.. will read the ebook. Thanks!
  • #127
  • Jun 2, 2010 2:06am Jun 2, 2010 2:06am
Put short order
EP 1.2205
SL 1.2220
TP 1.2157

Nice retrace to the TL, Inside bar formed. Entering oh the break of the IB
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  • #128
  • Jun 2, 2010 2:10am Jun 2, 2010 2:10am
Quoting Destrader
I found it out the hard way. Anyway i took the trade and just got stopped out. This is how i took it. Pls let me know if i have done anything wrong! thanks.
Well, according to your picture the upper TL was not broken so far - I dont see any bars which closed above it. Technically, everything else seemed ok to me.
  • #129
  • Jun 2, 2010 2:11am Jun 2, 2010 2:11am
Quoting Destrader
Thanks. Seems like i entered a wrong trade just now? Can anyone point out my mistake? or was that a correct entry ? Thanks, i am rather confuse with the divergence thingy now.. will read the ebook. Thanks!
it is still a chance but remembour buy low sell high! its important i personaly dont belive in this big numbers its all in traders head ! thats why if let say 10000 traders belive in this particular big number it can be a s/r place
but if no there is no magic in it

but technicly enntry was ok remembour not every setup must work
if you will have time read "Douglas, Mark - Trading In The Zone" he write a lot about psychology of profesional trader you have not to worry about small loses it must happend sometime! you have to be happy about your big wins !
  • #130
  • Jun 2, 2010 2:14am Jun 2, 2010 2:14am
There is div @ 1H TF.
So I'll wait the upward movement.
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  • #131
  • Jun 2, 2010 2:20am Jun 2, 2010 2:20am
Quoting snusnufreak
Well, according to your picture the upper TL was not broken so far - I dont see any bars which closed above it. Technically, everything else seemed ok to me.
Actually u are right. I entered the trade 1.2225 which actually touched the line it was a very fine line, and i decided to take the trade. Somehow the trade only got executed at 1.2232. But i am glad that what i saw was partially(mostly correct) i dun mind those pips. What i am looking for is the correct judgment which will eventually make us all successful. And I agree with Bbols, it all boils down to chances, the difference is just higher or lower chance. Thanks for the help. I definitely learnt a lot from the thread.
  • #132
  • Jun 2, 2010 2:49am Jun 2, 2010 2:49am
Here's what I saw regarding current EU situation.

1. There was a double-bottom setup and first entry possibility (early entry) was at the neckline break around 1.2212. I entered and got stopped out at BE.

2. After the price broke 50 EMA and started to retrace i drew my TL and waited for retracement with Stoch confirm (it retraced below 50). I was trying to enter on the break of IB @ 8:50 at 1.2220, got filled @ 1.2225 and got stopped out @ 1.2205. I wanted to re-enter on the break of IB @ 9:10, but didn't get filled.

Regards,

snu
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  • #133
  • Jun 2, 2010 3:06am Jun 2, 2010 3:06am
Hi Snu!
What strategy u use for calculate ur profit order?
Please show this for urs today pics if it posible.
With best regards



Quoting snusnufreak
Here's what I saw regarding current EU situation.

1. There was a double-bottom setup and first entry possibility (early entry) was at the neckline break around 1.2212. I entered and got stopped out at BE.

2. After the price broke 50 EMA and started to retrace i drew my TL and waited for retracement with Stoch confirm (it retraced below 50). I was trying to enter on the break of IB @ 8:50 at 1.2220, got filled @ 1.2225 and got stopped out @ 1.2205. I wanted to re-enter on the break of IB @ 9:10, but didn't get filled.

Regards,

snu
  • #134
  • Jun 2, 2010 4:08am Jun 2, 2010 4:08am
Let, I find fib extensions to work well. But, overall, exit strategy is somewhat subjective.

Once you're determined with your direction, use last retracement move as reference points for fib drawing. The least price does most of the time is 138.2% extension, so set it to be your first target. You can use other tools such as S/R lvls, whole numbers,

Considering today's example: first target should've been around 1.2245 if you entered long.

Snu.
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  • #135
  • Jun 2, 2010 4:20am Jun 2, 2010 4:20am
Here's the pic I made myself with market phases as described on marketgauge. Plz study this, i hope you will find this useful. These are widely used on stock markets to define market sentiment, however i find them work just as well on forex.

Regards,
snu.
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  • #136
  • Jun 2, 2010 4:31am Jun 2, 2010 4:31am
i was boured so i made a litle scalp close half at +5 (one candle ago ) and i hope so it will go down now to this trendline
edit
giess i was wrong
+5 gere -5 here
sh** happends
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  • #137
  • Jun 2, 2010 4:48am Jun 2, 2010 4:48am
entered long at 1.2250...closed one lot at 20pips...the other one on trailing stop
  • #138
  • Jun 2, 2010 5:37am Jun 2, 2010 5:37am
my last trade got stopped out at break even...i'm done for today
  • #139
  • Jun 2, 2010 6:11am Jun 2, 2010 6:11am
bbolss in 106 post on a screen there are indicators, where yellow and purple line, what this indicator, Throw them if they do not exist in the archive please
  • #140
  • Jun 2, 2010 6:26am Jun 2, 2010 6:26am
Quoting Zazm
bbolss in 106 post on a screen there are indicators, where yellow and purple line, what this indicator, Throw them if they do not exist in the archive please
its mtf stoch set to h1 timeframe
it should be in archive try to load manyaly
name of indi is #MTF_Stochastic
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