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Up and Down with TT

  • #141
  • Jul 26, 2010 1:49pm Jul 26, 2010 1:49pm
Quoting 45Condor
Hi Tau, still with these?
Good day to you,

Yip - still with these. Will see how we go. I am nett green at the moment, but will not close any position as yet.

Warm regards
  • #142
  • Jul 26, 2010 2:33pm Jul 26, 2010 2:33pm
Tau, you got rid of the other indicators.
  • #143
  • Jul 26, 2010 10:04pm Jul 26, 2010 10:04pm
Quoting ukcool
Tau, you got rid of the other indicators.
Good day to you,

Not really... I still use them. I however also use other indicators. Or no indicators. It all depends. This is exactly why I chose a journal and not started a thread under "trading systems".

If this was a "trading systems" thread, I would have traded one system only with much more spesific "rules". I am always testing different things to see how I can enhance my trading.

That is why I spesifically also stated that if one was looking for spesific entries and exits, this was not the place. I further stated that the idea can be applied with fibs, trendlines, pivots etc. Depending on your personal way of trading.

These last couple of trades were taken for very different reasons and it is again just testing a different strategy within my final toolbox of "tricks". I shared some of the indicators I am using so that someone else may benefit - should they be able to make it work for them.I am a terrible teacher. I also believe that one can not impose one person's viewpoint onto others to follow without question. We are each very complex individuals and there are way too many "grey" areas to cover.

I am sorry if you are disappointed, or if you had different expectations.
Thank you for popping in and taking the time to post. It is appreciated

Regards and best of luck
  • #144
  • Jul 26, 2010 10:09pm Jul 26, 2010 10:09pm
Quoting TauTrader
Added another short to both EJ and GJ. Leaving UJ for now, as there has not been a lot of movement. The rise on EJ and GJ driven by Sterling and Euro strength at this point.

Hmmm.. nice and deep underwater here. This could take a while... will manage these and may add later.
Closed the weaker entry on Dragon for +10. Leaving the other trade open. May re-enter another short higher up again. I am just managing risk down a bit.

All other positions remain

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: dragon2.gif Size: 13 KB
  • #145
  • Jul 27, 2010 1:01am Jul 27, 2010 1:01am
Closed 1 position on EJ for +4 and Closed last Dragon trade for + 24.

Reducing exposure some more. May sell higher....

Will nurse other positions from here. Still 1 position open on EJ. One on UJ. None on Dragon. 2 on GU.

Regards
  • #146
  • Jul 27, 2010 3:23am Jul 27, 2010 3:23am
Closed UJ short for +24.

Will wait to see where we go.

Still have some open positions running on other pairs, but in the red at present.

Regards
  • #147
  • Jul 27, 2010 3:58am Jul 27, 2010 3:58am
No, I dont use your indicators. But I am always keen in learning new stuff. Knowledge has no bounds.

I am especially interested in the different ways people our using S&R.

Some our using the wicks of candles and others the base or body of a candle.
Apart from that there our a variety of strategies being used using these levels. Breakouts, bounces. Only one higher TF, multiTF ect.

What is your way of using them.
  • #148
  • Jul 27, 2010 4:51am Jul 27, 2010 4:51am
Quoting ukcool
No, I dont use your indicators. But I am always keen in learning new stuff. Knowledge has no bounds.

I am especially interested in the different ways people our using S&R.

Some our using the wicks of candles and others the base or body of a candle.
Apart from that there our a variety of strategies being used using these levels. Breakouts, bounces. Only one higher TF, multiTF ect.

What is your way of using them.
Good day to you,

Although I sometimes look at candle formations, I do not give it a lot of attention. Purely based on the fact that different brokers may have different candle formations showing at the same time. I am therefor not keen on them.

Support and Resistance, to me, is the single most important. The "breath of currency" indicator gives me everything I need. This is all I use. We then still have the challenge, once we reach these levels, to determine if price will continue through, reverse, fake out etc. Here is where I am most interested in finding possible turns / continuations and this is where I do most of my study. Higher High, Lower Highs, Lower Lows and Higher Lows I like a lot - coupled with momentum.

Regards
  • #149
  • Jul 27, 2010 6:50am Jul 27, 2010 6:50am
Not sure about you, sir, but I've been spitting the dust out of my mouth for the latter part of this morning as Cable decided to burn her way through my stops from the short yesterday.

Hope you were at your screen - I, unfortunately, was not.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #150
  • Jul 27, 2010 10:08am Jul 27, 2010 10:08am
Quoting 45Condor
Not sure about you, sir, but I've been spitting the dust out of my mouth for the latter part of this morning as Cable decided to burn her way through my stops from the short yesterday.

Hope you were at your screen - I, unfortunately, was not.
Good day to you,

I was out and about most of the day. Although underwater at present on most of my positions - Im still in. Sorry to hear she turned on you there. I'm trading a project plan I have set out for myself - so I need to see this through - however painful and/or slow this may be....

I am driving up the coast to Hermanus for business tomorrow - so will not be able to follow. So, I will do a full update as to where I am floating around in terms of trades tomorrow night.

Just keep on chipping away. There is a lot of tugging in the markets now.

Wish you success.
  • #151
  • Jul 28, 2010 1:02am Jul 28, 2010 1:02am
Have visited once or twice when in SA on holiday. Hope the whales are out for you - yes, I know, you are on business.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #152
  • Jul 28, 2010 9:51pm Jul 28, 2010 9:51pm
Good day to you,

Well - I am still underwater in total. I have not closed any positions since Tuesday and have added selectively at levels I felt offered good discount.

Currently sitting with 23 open positions.Only 10 in positive territory. 13 in the red.

GU - 6 positions taken - target 1.5385
EU - 5 positions taken - target 1.2862
UJ - 1 position taken - target 86.22
GJ - 7 positions taken - target 133.15
EJ - 4 positions taken - target 110.85

Nett position is around negative 380 pips total across the lot.

Will update again in a day or 2.

Regards
  • #153
  • Jul 29, 2010 11:59am Jul 29, 2010 11:59am
Good day,

Currently sitting on 27 open positions. Targets remain as per previous posts.

GJ, EJ and UJ has moved nicely today. This has helped. EU and GU stubborn. I think I will see UJ target 1st. Then Dollar strength return and push back on UJ and Swissy - now bringing EU and GU into play, pulling GJ and EJ that last bit to target.

Just a thought...

Currently floating between +80 pips and +200 pips as total nett.

Will update again when needed.

Regards
  • #154
  • Jul 30, 2010 2:53am Jul 30, 2010 2:53am
Target hit @ 86.22. Entry was 87.87

Banked + 165 pips.

26 trades remain open. Currently nett floating around +450 pips - the above trade on UJ excluded.

Below was the trade closed

Will update again when I do changes or close trades.
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 12 KB
  • #155
  • Jul 31, 2010 4:33am Jul 31, 2010 4:33am
Good day to you,

No further positions were closed since Friday. Added 2 sells to GU on that last rise. This could continue still and I will add if need be.

Charts attached of the 4 pairs still involved. Currently floating at around negative 300 pips total. Friday saw a best position of + 1600 pips and a worst position of - 1300 pips.

Will update again in a day or so, or when changes are made. I did reduce all initial targets by between 5 and 8 pips - just to make sure. ( provision for spread and possible slippage)

Regards
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu.gif Size: 18 KB
Click to Enlarge Name: gj.gif Size: 19 KB
Click to Enlarge Name: ej.gif Size: 20 KB
Click to Enlarge Name: eu.gif Size: 17 KB
  • #156
  • Jul 31, 2010 2:18pm Jul 31, 2010 2:18pm
Quoting TauTrader
Good day to you,

No further positions were closed since Friday. Added 2 sells to GU on that last rise. This could continue still and I will add if need be.

Charts attached of the 4 pairs still involved. Currently floating at around negative 300 pips total. Friday saw a best position of + 1600 pips and a worst position of - 1300 pips.

Will update again in a day or so, or when changes are made. I did reduce all initial targets by between 5 and 8 pips - just to make sure. ( provision for spread and possible slippage)

Regards
Welcome back bro

I'm not sure about your G/U chart , IS that sell sell sell positions?
Do u know it's in uptrend 4H TF ?

Have no time now but later will post my view if u don't mind
Catch u later
Egkid
  • #157
  • Aug 1, 2010 12:20am Aug 1, 2010 12:20am
Quoting egkid
Welcome back bro

I'm not sure about your G/U chart , IS that sell sell sell positions?
Do u know it's in uptrend 4H TF ?

Have no time now but later will post my view if u don't mind
Catch u later
Egkid
Good day to you,

Thank you for stopping by...

Yes, those are sell, sell, sell positions. Correct. I am very aware of the fact that we are in an uptrend on the 4hr chart. You are most welcome to post your views.

Wish you success!

Regards
  • #158
  • Aug 1, 2010 2:12pm Aug 1, 2010 2:12pm
Quoting TauTrader
Good day to you,

Thank you for stopping by...

Yes, those are sell, sell, sell positions. Correct. I am very aware of the fact that we are in an uptrend on the 4hr chart. You are most welcome to post your views.

Wish you success!

Regards
1-If u know it's in up trend in 4h Why u sell?
2-I don't want explain much my view because seems we are in difference side of the boat and i Don't want to influence your view.

But we are near to see correction soon
Take care for u r sell Plz

Long Positions still in Play
http://www.forexfactory.com/showpost...stcount=240108
  • #159
  • Aug 1, 2010 2:38pm Aug 1, 2010 2:38pm
Quoting egkid
1-If u know it's in up trend in 4h Why u sell?
2-I don't want explain much my view because seems we are in difference side of the boat and i Don't want to influence your view.

But we are near to see correction soon
Take care for u r sell Plz

Long Positions still in Play
http://www.forexfactory.com/showpost...stcount=240108
Good day to you,

To answer your question. It all depends on what the final trading plan is. I sell because I believe I am getting discounted opportunity to do so. I can ask you the very same question - why do you buy if the overall long term daily trend is down? At the time you placed your buys - the 1hr chart has been in a downtrend for 3 to 4 days - why did you buy?

You did so because you had a trading plan and you executed that.

By the way - very well done on that trade. Beautiful..

Wish you all the best

Regards
  • #160
  • Aug 2, 2010 10:34pm Aug 2, 2010 10:34pm
Good day to you,

Status remains as was. No trades were closed as yet. Still well underwater. I am travelling again, so I will only be able to update in a day or 2 from now.

Wish you all success!

Regards
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