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Nearly Naked (Simple Trades)

  • #2,901
  • Jun 7, 2010 10:13pm Jun 7, 2010 10:13pm
Quoting Saxon
Hey Epeks, Marc said it pretty well. I'll post a few more things in a bit, stepping off the desk for a min, be right back

Thanks, Saxon. Looking fwd to following this thread more!
  • #2,902
  • Jun 7, 2010 10:15pm Jun 7, 2010 10:15pm
Quoting epeks
Thanks, Saxon. Looking fwd to following this thread more!
Hey Epeks,
The links Marc sent you are a really good place to start and, like Marc suggested, start on a demo account. One word of caution though, demo trading is not like live trading, there are emotions that get involved that anyone here can tell you about. So learn to control your emotions, tip #1. Also, there are a few other amazing traders in here that can give you just as good if not better advice than me (Marc, Amy, Shahab, Geppy, Calderone, Aragorn, Clouds, Erikte, etc...) So if I'm not answering, they probably will. Amy, Shahab, Geppy and Coke also have their own thread which I highly suggest.

When it comes to watching PA, it really boils down to experience/screen-time. There are some amazing books out there, but while you are reading them, have your account open and watch what PA is doing.

When it comes to what PA is actually doing, here is what I am talking about:

Candle Formation (Body Size, Wicks, etc...) So the physical attributes.
Speed of PA. So how fast it is moving across your screen
Angle of PA. So if it is flat or steep
Time Frame Candle Formations (M15, M30, H1, etc...)
PA Patterns (Wedge, Triangle, etc...)

After a while of watching PA and its interaction with Support and Resistance Lines, "00" lines, Trend Lines, Fibs, etc... you will get a feel of what it will probably do next. Also, the time of day is an important factor. So candles forming on M15 and higher, have some predictability. So for example, right near the closing of a H1 candles, you will most likely see 30-60% of the candle's movement. If that is right next to a S/R or "00", you can get a feel for what the market is doing.

If you go back and just browse though this thread and the ones I mentioned earlier, you will get an idea of how we trade and what we look out for. Each trader has their own style, so take bits and pieces from each and see what works for you. Develop your own style you feel comfortable with. Also, do not hesitate to post questions, concerns, ideas, comments on this thread. We encourage it and will be more than happy to help and share ideas. Good luck to you my friend, all the best, hope to see more posts from you
  • #2,903
  • Jun 7, 2010 10:43pm Jun 7, 2010 10:43pm
Quoting amyc
Hi epeks

Don't discount that thought, it is something I have in the back of my mind as well. If we get above 8252 then I will start to look for a retest of 85. At the moment I am still with Marc, shorting rallies with tight stops.
Part of the reason why I loaded up longs from 0.8100 yesterday and today.

I think this retracement would go on till 0.8381 (and 0.85 as you mentioned probably). Am just planning to trail stops till then.
  • #2,904
  • Jun 7, 2010 10:52pm Jun 7, 2010 10:52pm
Maybe we will get to some the next fib targets on a lot of our pairs. Personally for me, I would rather be trading off of recent S/R and Fibs than S/R from 3 years ago and on Fib Exp. I feel like Fib Ret are a lot less ambiguous in their creation than Fib Ex.
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  • #2,905
  • Jun 7, 2010 11:07pm Jun 7, 2010 11:07pm
took a trade similar to Shahabs
http://www.forexfactory.com/showpost...&postcount=220
  • #2,906
  • Jun 7, 2010 11:22pm Jun 7, 2010 11:22pm
Getting there. That upper BB is open. show me a reversal candle now.
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #2,907
  • Jun 7, 2010 11:28pm Jun 7, 2010 11:28pm
Quoting MarcVUM
Getting there. That upper BB is open. show me a reversal candle now.
Got out with 9. Waiting for some PA targets now.
  • #2,908
  • Jun 8, 2010 12:04am Jun 8, 2010 12:04am
Quoting Saxon
Got out with 9. Waiting for some PA targets now.
I'm in and counting the green. I'll probably chicken out and ride it to the lower BB then get out.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #2,909
  • Jun 8, 2010 12:07am Jun 8, 2010 12:07am
Quoting MarcVUM
I'm in and counting the green. I'll probably chicken out and ride it to the lower BB then get out.
Like I told Shahab, I was just playing the "00", I didn't do enough analysis on my own to get in on it for a ride. I am just going to wait for some targets to come up. Did you move your SL to BE yet?
  • #2,910
  • Jun 8, 2010 12:08am Jun 8, 2010 12:08am
Quoting Saxon
Like I told Shahab, I was just playing the "00", I didn't do enough analysis on my own to get in on it for a ride. I am just going to wait for some targets to come up. Did you move your SL to BE yet?
Oh yes but I'm not too concerned. Like I was telling Amy before... The first revisit to the 150/200 after a large fall or rise in PA is actually your second chance to go long or short whichever side your on. Typically you can get another 50 pips out of it.

Edit: the third time it revisits you have to start preparing for a breakthrough. Just something I've got pages of charts to document it.

Edit: that 150ema really held up nicely. Hitting the 21ema now and will bounce 5 - 10 pips and should continue down quite nicely. Once it hits the lower BB there will be another bounce and should then fall down to Shahab's first TP at 8105. I'll chicken out at the lower BB and take my profits relieving myself from the bounce that makes my nerves go crazy!
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #2,911
  • Jun 8, 2010 12:28am Jun 8, 2010 12:28am
Quoting MarcVUM
Oh yes but I'm not too concerned. Like I was telling Amy before... The first revisit to the 150/200 after a large fall or rise in PA is actually your second chance to go long or short whichever side your on. Typically you can get another 50 pips out of it.

Edit: the third time it revisits you have to start preparing for a breakthrough. Just something I've got pages of charts to document it.

Edit: that 150ema really held up nicely. Hitting the 21ema now and will bounce 5 - 10 pips and should continue down quite nicely. Once it hits the lower...
Hope it makes you some more green I'm watching EU and UCAD right now. Will post charts in a sec
  • #2,912
  • Jun 8, 2010 12:31am Jun 8, 2010 12:31am
Quoting Saxon
Hope it makes you some more green I'm watching EU and UCAD right now. Will post charts in a sec
I was just looking at UCAD too. those MA's are getting pretty darn close to one another. A break one way or the other looks imminent. Have a feeling it's going north after looking at the H1 chart.
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #2,913
  • Jun 8, 2010 12:43am Jun 8, 2010 12:43am
A/U Short stopped out!
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #2,914
  • Jun 8, 2010 12:48am Jun 8, 2010 12:48am
Quoting MarcVUM
I was just looking at UCAD too. those MA's are getting pretty darn close to one another. A break one way or the other looks imminent. Have a feeling it's going north after looking at the H1 chart.
I know we don't believe in indicators in here but there is one that is called Bollinger Width, it just helps you to not have to eyeball the width of your bollingers so you can see if it is narrow and about to break. I used to use it a lot. You can still eyeball the width though, it was just one indicator someone made to make it visually easier.

Here is one of my UCAD charts
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  • #2,915
  • Jun 8, 2010 12:52am Jun 8, 2010 12:52am
Quoting Saxon
I know we don't believe in indicators in here but there is one that is called Bollinger Width, it just helps you to not have to eyeball the width of your bollingers so you can see if it is narrow and about to break. I used to use it a lot. You can still eyeball the width though, it was just one indicator someone made to make it visually easier.

Here is one of my UCAD charts
Is the BB width the purple line in the subgraph?
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #2,916
  • Jun 8, 2010 12:56am Jun 8, 2010 12:56am
AU
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  • #2,917
  • Jun 8, 2010 12:56am Jun 8, 2010 12:56am
MATAF trade recommendations for UCAD and A/U. Their A/U trade is just like Shahab's. As I'm looking at A/U right now it's coming back down after once again coming close to the 100 Fib line. Oh well.

http://www.mataf.net/en/forex/usdcad
http://www.mataf.net/en/forex/audusd
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #2,918
  • Jun 8, 2010 12:57am Jun 8, 2010 12:57am
Quoting MarcVUM
Is the BB width the purple line in the subgraph?
Oh, that is just my RSI overlay on MACD, didn't want to take up two windows. I will post one with it on so you can see what it looks like, just a sec..
  • #2,919
  • Jun 8, 2010 1:04am Jun 8, 2010 1:04am
Quoting MarcVUM
MATAF trade recommendations for UCAD and A/U. Their A/U trade is just like Shahab's. As I'm looking at A/U right now it's coming back down after once again coming close to the 100 Fib line. Oh well.

http://www.mataf.net/en/forex/usdcad
http://www.mataf.net/en/forex/audusd
the 8207 R looks shaky =/
e/u run into daily R1 the same time as a/u run into 8207
  • #2,920
  • Jun 8, 2010 1:06am Jun 8, 2010 1:06am
Quoting Saxon
Oh, that is just my RSI overlay on MACD, didn't want to take up two windows. I will post one with it on so you can see what it looks like, just a sec..
Here is an AU example
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