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Silent Service Method

  • #9,521
  • Jul 1, 2010 7:40am Jul 1, 2010 7:40am
Quoting tobias24
i entered and got stopped
Ouch!
  • #9,522
  • Jul 1, 2010 7:46am Jul 1, 2010 7:46am
about that usd/chf chart.
noone else in a trade there? did i get those posts few pages back wrong?
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.jpg Size: 284 KB
  • #9,523
  • Jul 1, 2010 7:49am Jul 1, 2010 7:49am
Quoting erdah
Thanks, I appreciate your help and I'm learning a lot.

Back to EUR/NZD, now the 3H chart. There is a nice pin bar on the S/R line. Lucky me I did not enter, I would have been stopped out.

In hindsigh, why not enter at that pin bar? It didn't touch the trend line but that's not always the case, right?
a pinbar is only valid IF it breaks. in your chart the pinbar never broke. so do not trade here!
meine augen sind die sterne
  • #9,524
  • Jul 1, 2010 9:19am Jul 1, 2010 9:19am
Quoting aserbfx
a pinbar is only valid IF it breaks. in your chart the pinbar never broke. so do not trade here!

Correct.
  • #9,525
  • Jul 1, 2010 9:21am Jul 1, 2010 9:21am
Quoting tobias24
about that usd/chf chart.
noone else in a trade there? did i get those posts few pages back wrong?
I agree with your trend line. Here was the one I was watching.....
Attached Image (click to enlarge)
Click to Enlarge Name: chf.png Size: 43 KB
  • #9,526
  • Jul 1, 2010 10:37am Jul 1, 2010 10:37am
oh i see, thank you very much chris again.
i am still learning, luckily my faults dont cost much

with all the positive things trading very small deposits with oanda, their charting software is really poor. daily is the biggest timeframe :/

i trade a very small acount with real money, i cant trade a demo account like i would with real money. so i am getting used to trading real money and slowly building up.
  • #9,527
  • Jul 1, 2010 12:32pm Jul 1, 2010 12:32pm
Quoting tobias24
oh i see, thank you very much chris again.
i am still learning, luckily my faults dont cost much

with all the positive things trading very small deposits with oanda, their charting software is really poor. daily is the biggest timeframe :/

i trade a very small acount with real money, i cant trade a demo account like i would with real money. so i am getting used to trading real money and slowly building up.
Use a metatrader demo with another broker for your charting. It's not always exactly the same as a live feed but on higher time frames it shouldn't make too much difference.
Position trader - Anything intraweek is just noise...
  • #9,528
  • Jul 1, 2010 1:16pm Jul 1, 2010 1:16pm
Quoting Arfer Daily
Use a metatrader demo with another broker for your charting. It's not always exactly the same as a live feed but on higher time frames it shouldn't make too much difference.

I agree 100%. MT4 has the best charts. Look for a broker that offers a lifetime demo, like ibfx.com
  • #9,529
  • Jul 1, 2010 2:03pm Jul 1, 2010 2:03pm
Since yesterday was month-end I thought I'd go through a few monthly charts and see what I could find...

Attached Image (click to enlarge)
Click to Enlarge Name: 2010-07-01_EurMonthly.png Size: 47 KB



...Which reminds me: Are you guys still in that Kiwi short that you took off of that monthly pinbar?

Cheers!
  • #9,530
  • Jul 1, 2010 2:08pm Jul 1, 2010 2:08pm
Quoting InfinitySL

...Which reminds me: Are you guys still in that Kiwi short that you took off of that monthly pinbar?

Cheers!
Cautionary tale: I was, then added positions, which turned out to be "averaging down", moved my stops relentlessly, and ended up taking a 30% hit to my account 6 days before it turned in my favor.

Idiocy is expensive. I believe Chris is still in it, and in profit.
  • #9,531
  • Jul 1, 2010 2:22pm Jul 1, 2010 2:22pm
Quoting InfinitySL
Since yesterday was month-end I thought I'd go through a few monthly charts and see what I could find...

Attachment


...Which reminds me: Are you guys still in that Kiwi short that you took off of that monthly pinbar?

Cheers!
Yes, I took a loss on eurusd today so I'm flat everything at the moment and sitting and waiting for the next good trade. I'm not sure that watching for trends is such a good idea at this time of year so I'm going to be concentrating on clear bounces from s/r that have some room to move.

Talking of which usdcad could be a short at the end of tonight but my only question is how much room as it got to go anywhere before it meets support? Is the gain worth the risk? I'm thinking not although I think it'll go down tomorrow.

Jharvey had it right the other day, weekly charts are the way to go, just need extreme patience!
Position trader - Anything intraweek is just noise...
  • #9,532
  • Jul 1, 2010 2:26pm Jul 1, 2010 2:26pm
Quoting InfinitySL
Since yesterday was month-end I thought I'd go through a few monthly charts and see what I could find...

Attachment


...Which reminds me: Are you guys still in that Kiwi short that you took off of that monthly pinbar?

Cheers!
Sometimes common sense escapes me. Thanks for the chart.
  • #9,533
  • Jul 1, 2010 2:32pm Jul 1, 2010 2:32pm
Quoting Arfer Daily

Talking of which usdcad could be a short at the end of tonight but my only question is how much room as it got to go anywhere before it meets support? Is the gain worth the risk? I'm thinking not although I think it'll go down tomorrow.
http://i50.tinypic.com/2i8gaiu.png
  • #9,534
  • Jul 1, 2010 2:42pm Jul 1, 2010 2:42pm
Check this one out... Chart has my comments.

Gold priced in Euros...
Attached Image
  • #9,535
  • Jul 1, 2010 3:13pm Jul 1, 2010 3:13pm
Quoting Arfer Daily
Yes, I took a loss on eurusd today so I'm flat everything at the moment and sitting and waiting for the next good trade. I'm not sure that watching for trends is such a good idea at this time of year so I'm going to be concentrating on clear bounces from s/r that have some room to move.

Talking of which usdcad could be a short at the end of tonight but my only question is how much room as it got to go anywhere before it meets support? Is the gain worth the risk? I'm thinking not although I think it'll go down tomorrow.

Jharvey had it right the...
Tomorrow will not be the day to take a trade. If you are flat, then your week should be over.
  • #9,536
  • Jul 1, 2010 3:17pm Jul 1, 2010 3:17pm
Quoting InfinitySL
Since yesterday was month-end I thought I'd go through a few monthly charts and see what I could find...

Attachment


...Which reminds me: Are you guys still in that Kiwi short that you took off of that monthly pinbar?

Cheers!
No, the damn Kiwi got me. It was a profit, but I got clipped, and am still not happy about it. ;-)

Anyway, the reason I am not 100% sure about this chart, is the following: (It's all the wicks in this shaded area that has me wondering.)
Attached Image (click to enlarge)
Click to Enlarge Name: eur.png Size: 46 KB
  • #9,537
  • Jul 1, 2010 3:18pm Jul 1, 2010 3:18pm
Quoting InfinitySL
Check this one out... Chart has my comments.

Gold priced in Euros...
Attachment

It is probably some short covering. Everyone has been short the EUR and long Gold.

As far as the future......Gold needs to pull back in my opinion anyway. So to hell with 'em.
  • #9,538
  • Jul 1, 2010 5:10pm Jul 1, 2010 5:10pm
To my English friends:

Every 4 years, I have to hear over and over about how "soccer" is something that Americans call football. I cannot count how many times someone has derided me for being from the US, and that we call it "soccer."

Two things come to mind: Although we got eliminated at the same stage, I would venture to say the US made a better account of itself this time. (Even if we should have made it to the Semi Finals.)

The other is that Soccer is your word, not ours.

But none the less, the English tend to not know the history of the word soccer. (Ok, rant done. lol)

http://g.sports.yahoo.com/soccer/wor...all070110.html
  • #9,539
  • Jul 1, 2010 5:11pm Jul 1, 2010 5:11pm
Quoting clockwork71
Tomorrow will not be the day to take a trade. If you are flat, then your week should be over.
Agree 100%

Quoting clockwork71
No, the damn Kiwi got me. It was a profit, but I got clipped, and am still not happy about it. ;-)

Anyway, the reason I am not 100% sure about this chart, is the following: (It's all the wicks in this shaded area that has me wondering.)
Agree 200%
http://www.forexfactory.com/showpost...postcount=9158
  • #9,540
  • Jul 1, 2010 7:39pm Jul 1, 2010 7:39pm
I am interested to see how this candle looks at the end of the day tomorrow.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp w.gif Size: 30 KB
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