The IGROK files - Adventures of a rookie using the Igrok method

Quoting niteshift02

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Good morning all,

First trade of the day was executed earlier and is an 18.1 on e/u. Although I could have had a better entry point, I entered on the break of the previous session high. Due to PA being in a larger channel which I discovered later (doh!), I maybe should have planned this trade better using a channel template such as a 19.6, but all trends and MMs are UP, so the probabilities should be in my favour. My target is an old 1hr div around 1.2744, so as long as price dosen't break my 30 pip SL at the session low, I expect it to continue...

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Quoting niteshift02

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Yes, I'm from London, 'Talk tah me'!

You're the first person here to recognize him Now if I had some monies I would give you a prize, so give me your bank account details and sort code sir, so I can arrange a transfer from the bank of Uganda

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Quoting Sim

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hahaha mate,, that's the funniest thiing ever

and what about facejacker?? BADONDE,, Brian, badonde,,,,, dude kills me!!

Lol am the other side of ldn from u just outside of SE near the qe2 bridge

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Quoting niteshift02

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Interesting, my long trade has now been wiped out as e/u reached a new session low. Reverse order now in play, initial target is to cover my 30 pip loss, and then take it from there. There is a potential lower TL, although only made from 2 points, it would be interesting to see if price reacts to this projected line.

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Quoting niteshift02

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Good day to you all my fellow traders,

For breakfast today I went for an ADR template on USDCAD, 18.3 being the flavour for this morning. I was attracted by the fact that nearly all the timeframes show the pair as bearish, and I can place a tight SL of 15 pips for this trade. We also have strong recent resistance around 1.0340 - 1.0346 zone.

The only risk is the pair may decide to retrace which would knock out my SL, and the template does not recommend a reverse order. But for a 15 pips SL, I think the risk is worth it.

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Quoting niteshift02

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Stop loss hit. Looks like pair has been stuck in consolidation for most of the morning and has decided to break out creating a new high for the day. Technically this trade was not really an 18.3 exactly, due to the fact the template states the pairs to be traded should be an asian or euro cross. I will bear this in mind for next time.

In any case, I decided to create a reverse order which has now been triggered, my first aim to recover my initial loss. Will the pair have enough legs to at least make it to the 50% fib ret line? We shall see......

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Quoting niteshift02

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Good day to you all my friends,

My trade of today is an 18.4 on e/u with a nice 25pip SL. I've decided to change the way I trade slightly and will try and run 2 lots, first lot to target the equivalent risk, in this case 25 pips, once that has been achieved, the other lot will have its SL moved to break even. At the same time I only risk 1-1.5% per trade, as it's very important to stick to good MM rules.

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There a slight V formation which has formed before hand, is this enough to signify a trend reversal? I'm not...

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Quoting niteshift02

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Didn't get a chance to break even, SL hit instead, reverse orders now triggered. So V formations or the like are a no no when trading ADRs. We've got a new high and main move for the day, let's see if the upmove has enough momentum to cover my losses.

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Quoting niteshift02

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Good day to you all my friends,

My trade of today is an 18.4 on e/u with a nice 25pip SL. I've decided to change the way I trade slightly and will try and run 2 lots, first lot to target the equivalent risk, in this case 25 pips, once that has been achieved, the other lot will have its SL moved to break even. At the same time I only risk 1-1.5% per trade, as it's very important to stick to good MM rules.

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There a slight V formation which has formed before hand, is this enough to signify a trend reversal? I'm not...

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Quoting FxChi

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Hey I saw your message to me about the trade 2day. I just looked at your set-up and the lows immediately stood out to me. Remember the divergence exercise I told you about. Look at the 1 hr chart and you'll notice you were trying to trade against the must reach target 1.2612. IMO that was your mistake.

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Quoting niteshift02

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Good day to you all,

Here's a triangle I tried to play a 19.9 on last night. My SL is 32 pips, above the last bullish spike to occur:

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Here's how it looks this morning:

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So basically it hasn't moved as I was expecting, maybe the triangle is invalid. In any case, it looks like price has retraced to the 38% fib level between yesterday's high and today's low, and is now moving down. This pair mid to long term looks bearish, so I have decide whether to stick or move. Will watch PA closely to decide....

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Quoting FxChi

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Here's another perspective and hope I don't throw off your analysis.

I'm expecting downward momentum to begin slowing and may even look for countertrend opps. DX just completed div target @ 83.07. It was obvious market was heading there last night when I was reviewing pairs.

I'm factoring in USD/CHF follows fairly closely to DX and I have this picture on 5 min USD/CHF. I think it's dangerous to trade countertrend right now buying at the lows. I may potentially be interested in trading the topside break of the pattern though if I can get stop...

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Quoting FxChi

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I have same picture on weekly.

I use another broker for DX...WHC (or I think it may be Brocco now). It isn't perfect though. Lower tf analysis can be kind of dodgy and if trying to view weekly it can get spotty at times too.

I'm scratching idea of above post because it was based on the premise DX would be bouncing up but it doesn't look like the case. I'll look for something else.

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