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Higher low, lower high system

  • #1,341
  • Jun 14, 2010 4:18am Jun 14, 2010 4:18am
Quoting Vantage
Nice trade.

Big boys increased their GBP shorts and 5:1 long US$. So looking for sells on GU.
Me too. I more saw this as a trade where I expected the dealers to push price up through FH in order to get better prices for the sells coming in London. Seems like it didn't work out exactly as planned though, but I did get the expected push up...
  • #1,342
  • Jun 14, 2010 4:19am Jun 14, 2010 4:19am
Quoting eyevoltage
Spotted this nice one on EJ, managed +30odd pips and then proceeded to exit far too early. You live and learn. Maybe........
Huh, seems someone beat me to the punch on posting. Nice catch!
  • #1,343
  • Jun 14, 2010 4:25am Jun 14, 2010 4:25am
Quoting Auron112
Huh, seems someone beat me to the punch on posting. Nice catch!
Nothing to stop you posting it, mate. It's good to compare charts!
  • #1,344
  • Jun 14, 2010 4:41am Jun 14, 2010 4:41am
Harvested +17 pips for this one. The 15m chart showed a long-legged doji which gave me pause for thought, but as price moved through the xx50 psych-line on the 5m, I decided to give it a go.
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  • #1,345
  • Jun 14, 2010 5:22am Jun 14, 2010 5:22am
Quoting Auron112
5.1R for the day.
5.1R, the R?
  • #1,346
  • Jun 14, 2010 5:24am Jun 14, 2010 5:24am
Quoting eyevoltage
Harvested +17 pips for this one. The 15m chart showed a long-legged doji which gave me pause for thought, but as price moved through the xx50 psych-line on the 5m, I decided to give it a go.
Very nice again, I had to pop out and took the chance quickly hoping that US session will be better for me than London's BE trade.
  • #1,347
  • Jun 14, 2010 6:00am Jun 14, 2010 6:00am
Quoting Vantage
5.1R, the R?
Oh, I always go by R. It's just a risk-multiple. So instead of looking at percentages you are looking at the returns as a multiple of your per trade risk. Got it from Van Tharpe's Trade Your Way To Financial Freedom (one of the very few trading books I actually like) and use it for all my money management and expectancy calculations. I'm trading 1.25% on these, so 6.38% return on the day.
  • #1,348
  • Jun 14, 2010 6:08am Jun 14, 2010 6:08am
Quoting Auron112
I'm trading 1.25% on these, so 6.38% return on the day.
Great results.
  • #1,349
  • Jun 14, 2010 6:54am Jun 14, 2010 6:54am
2 big 1hr upper wicks. 15 min engilfing neg close. Sold this lh, would have liked to have gotten in at 4733 5 candles earlier, missed that. This looked like a decent set up. -15 pips.
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  • #1,350
  • Jun 14, 2010 7:29am Jun 14, 2010 7:29am
I missed this one on cable because I couldn't make up my mind whether or not to enter! The small consolidation in the blue circle meant that I wanted to see if price would pierce the xx00 psych-line. Next thing, BAM!!!! Up it went, leaving me waving bye-bye! Sod it.
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  • #1,351
  • Jun 14, 2010 8:41am Jun 14, 2010 8:41am
Sold this lh, we'll see where it goes to, 4500???
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  • #1,352
  • Jun 14, 2010 9:05am Jun 14, 2010 9:05am
Quoting Vantage
Sold this lh, we'll see where it goes to, 4500???
Out at BE, missed the exit at 25 level, it was on its way down again and then had a very quick push up.

My lovely trading day (NOT!!) continues. I'm so far behind my monthly target its like a dot on the horizon. Not to worry tomorrow brings more opportunities.
  • #1,353
  • Jun 14, 2010 9:18am Jun 14, 2010 9:18am
Quoting Vantage
Out at BE, missed the exit at 25 level, it was on its way down again and then had a very quick push up.

My lovely trading day (NOT!!) continues. I'm so far behind my monthly target its like a dot on the horizon. Not to worry tomorrow brings more opportunities.
On my chart it went down and culminated in a hammer touching the 1.4725 psych-line, mate. What was your entry point? I'm just a bit puzzled at how you only got BE, that's all. You know, being new to all this etc....

EDIT: Maybe "culminate" is the wrong word seeing as price was going DOWN! Try "finished", instead. Don't want to confuse anyone.
  • #1,354
  • Jun 14, 2010 9:22am Jun 14, 2010 9:22am
Quoting eyevoltage
On my chart it went down and culminated in a hammer touching the 1.4725 psych-line, mate. What was your entry point? I'm just a bit puzzled at how you only got BE, that's all. You know, being new to all this etc....
Entry 4749, see top left of chart where it shows 'sell', I thought we would get another push down to 25 level but had a quick run up and wasn't really concerned with trying to close trade on a few + pips but hoped we might just stay in.
  • #1,355
  • Jun 14, 2010 9:25am Jun 14, 2010 9:25am
Quoting Vantage
Entry 4749, see top left of chart where it shows 'sell', I thought we would get another push down to 25 level but had a quick run up and wasn't really concerned with trying to close trade on a few + pips but hoped we might just stay in.
Thanks, mate. Understood.
  • #1,356
  • Jun 15, 2010 2:30am Jun 15, 2010 2:30am
How tight are your stops trading GU vantage?
  • #1,357
  • Jun 15, 2010 5:55am Jun 15, 2010 5:55am
Quoting A-game
How tight are your stops trading GU vantage?
See 1st post, 15 pips give or take. I enter manually with a 2 pip max deviation so it can be a little different. If its too much I'll go in and change once in trade.
  • #1,358
  • Jun 15, 2010 5:56am Jun 15, 2010 5:56am
Was not able to trade this am but ej in particular looks like it had a good morning. Just showing then for the record.
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  • #1,359
  • Jun 15, 2010 6:17am Jun 15, 2010 6:17am
With 1hr down and 15 min neg close I had this 1 min entry lined up but we gapped down and missed my 2 pip max deviation. I hate to press yes on re-quotes. GU 1 min.

Maybe we'll get another entry soon. I hate to enter immediately after a 5 min 25 pip candle though.
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  • #1,360
  • Jun 15, 2010 7:28am Jun 15, 2010 7:28am
Quoting Vantage
Was not able to trade this am but ej in particular looks like it had a good morning. Just showing then for the record.
The trouble with the first one is that although it is a great LH, it closed right at FO. Could have been played by watching 75 level closely but the risk of a fakeout was there.

The second one was great and I managed to take that one up until the 50 level failed on its second attempt.

Possibility to add to longs with the third but the trouble with that one is that it coincided with GBP news and there was a lot of tick volume on the charts. Still pretty high percentage but maybe a little riskier because of that.

Just my perspective on a few but as a chart like this from Vantage points out, it can be pretty simple if you allow it to be. All in all a pretty nice Euro session morning, but again EJ seemed to be the only pair playing nice and the GU was a lot more difficult. Just look at those nice 1hr closes with minimal follow-through!
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