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Better-than-the-wormhole 555 replies

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The WoRmHoLe

  • #7,261
  • Jun 22, 2010 8:38am Jun 22, 2010 8:38am
I doubt to write this reply, but I just have to do it. +33 on a long gbp/usd.
I've read you for quite some time and even you lose some trades, when you call it's for serious consideration.

I'm not sure to let this run onto the news.
  • #7,262
  • Jun 22, 2010 8:38am Jun 22, 2010 8:38am
Quoting ubaidahsan
bro you went long because that TL was broken??please tell me what is your target and from where you will go short again?

thanks

Ub

no, i bought based on the reversal setup.
I'm not planning to short yet.
Thank You
  • #7,263
  • Jun 22, 2010 8:43am Jun 22, 2010 8:43am
This reversal you identified, on what chart timeframe did you see it that made you enter the trade?
  • #7,264
  • Edited 8:56am Jun 22, 2010 8:43am | Edited 8:56am
Quoting MartinR
I doubt to write this reply, but I just have to do it. +33 on a long gbp/usd.
I've read you for quite some time and even you lose some trades, when you call it's for serious consideration.

I'm not sure to let this run onto the news.

hey nice work martin
losses are inevitable, screw it. We just have to keep doing what we do & not let some losses bother us.

If you don't feel comfortable trading during the news, 3 things you can do if you're already in profit:
1. close the trade.
2. book partial profit & lock the remaining position to bep.
3. move your stop rrreeeeeeeally close to your current price right before the news, ie 4 pips, so that if it decide to turn you just lose a little, else, more fun

all of the above are win-win situation.
Thank You
  • #7,265
  • Jun 22, 2010 8:48am Jun 22, 2010 8:48am
Set the SL close to current when news come is really great I no doubt will investigate it, I remember some time ago Geppy talked about this, he had two accounts and was long in one and short the other, with just the money to cover his lose (don't remeber, around 10 pips), of course really overlevergaged.

For now I will do what you said, a close SL close to current price.
  • #7,266
  • Jun 22, 2010 8:55am Jun 22, 2010 8:55am
Quoting MartinR
This reversal you identified, on what chart timeframe did you see it that made you enter the trade?

the m5. it's the frankfurt reversal i've been working on & I've taken 7 live trades to date. so far 100% return.
I am not really good at explaining myself but maybe when I do use the setup to trade, if you're interested to follow along, you might see better what I am doing.

Here's the setups taken yesterday & today:
1. http://www.forexfactory.com/showpost...postcount=7229
2. http://www.forexfactory.com/showpost...postcount=7247
3. http://www.forexfactory.com/showpost...postcount=7250
4. http://www.forexfactory.com/showpost...postcount=7252
5. http://www.forexfactory.com/showpost...postcount=7258


Below is the follow up to our latest trade. as you can see, I took partial profit as price cross the dp before the news. That is convenient
Attached Image (click to enlarge)
Click to Enlarge Name: gu5.gif Size: 29 KB
Thank You
  • #7,267
  • Jun 22, 2010 9:45am Jun 22, 2010 9:45am
This is what I see, commets are hghly appreciated.
(If you notice it, well, it's better than demo)
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd5min.jpg Size: 176 KB
  • #7,268
  • Jun 22, 2010 9:47am Jun 22, 2010 9:47am
So after the frankfurt open normally how many candles do u let the box run before u make a trade or are able to decide that which way we might go? I know I am pretty bad at asking questions...but u can't blame me for trying....just asking coz this setup sure does look interesting

thanks and regards

Ali

Quoting wormboy
the m5. it's the frankfurt reversal i've been working on & I've taken 7 live trades to date. so far 100% return.
I am not really good at explaining myself but maybe when I do use the setup to trade, if you're interested to follow along, you might see better what I am doing.

Here's the setups taken yesterday & today:
1. http://www.forexfactory.com/showpost...postcount=7229
2. http://www.forexfactory.com/showpost...postcount=7247
3. http://www.forexfactory.com/showpost...postcount=7250
4....
Raza
  • #7,269
  • Jun 22, 2010 9:52am Jun 22, 2010 9:52am
Seems to me cable will go up more. I waiting 1.48, should this break would be interesting. On the other side I will worry if goes 1.4775.

I favor the upside.
  • #7,270
  • Jun 22, 2010 9:54am Jun 22, 2010 9:54am
I just realised that u are taking candles from 2 hrs if I am not mistaken....your input as always would be really appreciated...thanks again
Raza
  • #7,271
  • Jun 22, 2010 10:14am Jun 22, 2010 10:14am
Quoting MartinR
Seems to me cable will go up more. I waiting 1.48, should this break would be interesting. On the other side I will worry if goes 1.4775.

I favor the upside.
you are right.
stay long, I am. We had price lingering ard the ltl & failing to break lower, that in itself is a continuation signal imho. The confirmation will be closing above dp.
Attached Image (click to enlarge)
Click to Enlarge Name: gu5.gif Size: 30 KB
Thank You
  • #7,272
  • Jun 22, 2010 10:16am Jun 22, 2010 10:16am
Quoting shr5
I just realised that u are taking candles from 2 hrs if I am not mistaken....your input as always would be really appreciated...thanks again
yup, minimum of 2 hours after the open. The signal could take a little less than an hour like yesterday or a few hours like today. Doesn't matter, I just don't take it within the 2 hours.
Thank You
  • #7,273
  • Jun 22, 2010 10:17am Jun 22, 2010 10:17am
It's easy to read a great trader's thoughts and post the same paraphrased!!!

It's awesome how he predicts.
  • #7,274
  • Jun 22, 2010 10:20am Jun 22, 2010 10:20am
Quoting shr5
....just asking coz this setup sure does look interesting
it is useful to have a few setups to work with really. Because none of them work all the time.
Thank You
  • #7,275
  • Jun 22, 2010 10:22am Jun 22, 2010 10:22am
Quoting wormboy
the m5. it's the frankfurt reversal i've been working on & I've taken 7 live trades to date. so far 100% return.
I am not really good at explaining myself but maybe when I do use the setup to trade, if you're interested to follow along, you might see better what I am doing.

Here's the setups taken yesterday & today:
1. http://www.forexfactory.com/showpost...postcount=7229
2. http://www.forexfactory.com/showpost...postcount=7247
3. http://www.forexfactory.com/showpost...postcount=7250
4....

And we're approaching resistance. Like clockwork ey?
Attached Image (click to enlarge)
Click to Enlarge Name: gu5.gif Size: 28 KB
Thank You
  • #7,276
  • Jun 22, 2010 10:28am Jun 22, 2010 10:28am
Quoting wormboy
Closed partial


GBPUSD

1. long @4773 closed @4821 (0.3)

Remaining trade unchanged

GBPUSD

1. long @4773 sl @4660 (0.2)

Closed partial.

GBPUSD

1. long @4773 closed @4856 (0.1)

Remaining stop amended.

GBPUSD

1. long @4773 sl @4780 (0.1)


Okay I'm gonna leave the last position to work. I got the chicken pox, so I need to sleep. This itch is killing me.
Good luck with the trades guys!
Attached Image (click to enlarge)
Click to Enlarge Name: gu5.gif Size: 28 KB
Thank You
  • #7,277
  • Jun 22, 2010 10:30am Jun 22, 2010 10:30am
It has raised so much I had to close it. +55
  • #7,278
  • Jun 22, 2010 10:43am Jun 22, 2010 10:43am
Get well soon bro....take the much needed rest

Quoting wormboy
Closed partial.

GBPUSD

1. long @4773 closed @4856 (0.1)

Remaining stop amended.

GBPUSD

1. long @4773 sl @4780 (0.1)


Okay I'm gonna leave the last position to work. I got the chicken pox, so I need to sleep. This itch is killing me.
Good luck with the trades guys!
Raza
  • #7,279
  • Jun 22, 2010 11:17am Jun 22, 2010 11:17am
Nice job here wormboy. I will now be part of your thread. Nice to be here.
  • #7,280
  • Jun 22, 2010 11:36am Jun 22, 2010 11:36am
gbp/usd clearly on resistance. I'll wait till a breakout (1.4867 ?) to buy or 1.4825 to sell. What do you think?
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