Just closed the nzd/usd short for a gain of 115 pips. I've just been running the 5 minute setups all day other than that however. Not much to it but to do it!
I dream, therefore I become.
- #1,761
- Aug 10, 2010 10:32am Aug 10, 2010 10:32am
- Joined Jul 2006 | Status: Trader | 4,090 Posts
I dream, therefore I become.
- #1,762
- Aug 10, 2010 10:33am Aug 10, 2010 10:33am
- Joined Jul 2006 | Status: Trader | 4,090 Posts
I dream, therefore I become.
- #1,763
- Aug 10, 2010 10:35am Aug 10, 2010 10:35am
- Joined Jul 2006 | Status: Trader | 4,090 Posts
I dream, therefore I become.
- #1,764
- Aug 10, 2010 10:38am Aug 10, 2010 10:38am
- Joined Jul 2006 | Status: Trader | 4,090 Posts
Hi Mike,
Hope you had a good B-day. I'll be celebrating my 28th this saturday. Leo ftw!
Just took a short eurgbp on my longer term demo about an hour ago. Due to strong upward rejection, my stop on this one is smaller than as per standard J16 rules. Let's see where this might go...
Also took a BE on M5 fiber earlier today (also demo btw). Seemed promising at first, but no new lower low in presumed downtrend spells trouble most of the time. I'm looking for multiple R:R on these M5 trend trades, so this one was BE for me. Still wondering...
I dream, therefore I become.
- #1,765
- Aug 10, 2010 4:21pm Aug 10, 2010 4:21pm
- Joined Jul 2006 | Status: Trader | 4,090 Posts
I dream, therefore I become.
- #1,766
- Aug 10, 2010 4:31pm Aug 10, 2010 4:31pm
- Joined May 2009 | Status: step into liquid | 3,459 Posts
It looks like a pretty setup on the daily TF for usd/chf. I'll be entering on the retracement if there is one and targeting 1.04.
- #1,767
- Aug 10, 2010 5:19pm Aug 10, 2010 5:19pm
- Joined Jul 2006 | Status: Trader | 4,090 Posts
I have my limit order at 1.0536. Will check the damage tomorrow afternoon.
I dream, therefore I become.
- #1,768
- Aug 11, 2010 6:24am Aug 11, 2010 6:24am
- Joined May 2009 | Status: step into liquid | 3,459 Posts
Just keeping it super simple with the higher tf's and spending some time with my family! I have only been taking better setups. Looking at usd/chf-ok I peeked at it-my order got triggered as I slept. I think it should sell off a little during the NY session-looking at eu (needing a retrace).
I hope you are enjoying the waves!
I hope you are enjoying the waves!
- #1,769
- Aug 11, 2010 8:23am Aug 11, 2010 8:23am
Hi Mike, hope you're doing well today. It's one of those solid trending days again today. Perfect for doing M5. I'm currently back to Ryan's template, with the BB's. Helps me to gauge S/R a bit better. Had a nice little 2R trade on eurchf M5 this morning (i.e. CET/GMT+2). The one trade I took with a fixed TP turned out to develop into a major runner. Go figure. Oh well, currently riding the fiber wave down. That's dropping nicely as well, lol. 
Btw, I'm very much looking forward to seeing some of your results re: fixed TP vs runners.
Boy
Btw, I'm very much looking forward to seeing some of your results re: fixed TP vs runners.
Boy
It's not about how much you make, it's about how much you don't lose.
- #1,770
- Aug 11, 2010 8:32am Aug 11, 2010 8:32am
- Joined Jul 2006 | Status: Trader | 4,090 Posts
Hi Mike, hope you're doing well today. It's one of those solid trending days again today. Perfect for doing M5. I'm currently back to Ryan's template, with the BB's. Helps me to gauge S/R a bit better. Had a nice little 2R trade on eurchf M5 this morning (i.e. CET/GMT+2). The one trade I took with a fixed TP turned out to develop into a major runner. Go figure. Oh well, currently riding the fiber wave down. That's dropping nicely as well, lol.
Btw, I'm very much looking forward to seeing some of your results re: fixed TP vs runners.
Boy...
After testing it a LOT more, I'm only going to take "warzone" trades when the smaangle indicator is above or below the .1, -.1 level, although I'm going to take pins at the 21 either way. Even if it's not above or below, I'll still take the pins, as I wasn't realizing a lot of profit due to it.
I dream, therefore I become.
- #1,771
- Aug 11, 2010 8:41am Aug 11, 2010 8:41am
- Joined Jul 2006 | Status: Trader | 4,090 Posts
Hi Mike, hope you're doing well today. It's one of those solid trending days again today. Perfect for doing M5. I'm currently back to Ryan's template, with the BB's. Helps me to gauge S/R a bit better. Had a nice little 2R trade on eurchf M5 this morning (i.e. CET/GMT+2). The one trade I took with a fixed TP turned out to develop into a major runner. Go figure. Oh well, currently riding the fiber wave down. That's dropping nicely as well, lol.
Btw, I'm very much looking forward to seeing some of your results re: fixed TP vs runners.
Boy...
PS, at the moment, I'm moving towards runners over fixed tp on the usd/chf. I'm going ot run through it on all pairs. The variables are everywhere though, which makes it difficult. I'm running a test now with the difference between holding until we see divergent RSI and taking profit at +10. Waiting has been more profitable thus far.
I dream, therefore I become.
- #1,772
- Aug 11, 2010 10:05am Aug 11, 2010 10:05am
These past two days have been like this. We've seen runners the whole way across the board really. I'm waiting for the usd/chf to start trending downwards now as I have entries at 1.0550 and 1.0535.
After testing it a LOT more, I'm only going to take "warzone" trades when the smaangle indicator is above or below the .1, -.1 level, although I'm going to take pins at the 21 either way. Even if it's not above or below, I'll still take the pins, as I wasn't realizing a lot of profit due to it.
Seems like a solid plan, taking pins @ 21 EMA and warzone trades when the angle is sufficiently large. I'm still struggling with timing the entry. Yesterday I had two losses. Seemed I was king of the top/bottom picking, lol. Oh well, practice makes perfect.
One thing's for sure: if all weeks were like this one, no doubt that swinging for home runs will yield more green than fixed TPs. Nothing better than enjoying the sun and returning to double digit R:R runners.
It's not about how much you make, it's about how much you don't lose.
- #1,773
- Aug 11, 2010 10:34am Aug 11, 2010 10:34am
- Joined May 2009 | Status: step into liquid | 3,459 Posts
Looking at the daily on usd/chf it's obvious the pair is going to trade in the range of the past several days. If the pin is not invalidated I will be looking to get back in short at the break of the previous pin. lol I say-back in because I got stopped out at be+1 thanks to my trusty dusty trailing ea. I have noticed lots of candle pattern failures on several pairs.
I have noticed lots of candle pattern failures on several pairs. 
- #1,775
- Aug 11, 2010 11:13am Aug 11, 2010 11:13am
- Joined May 2009 | Status: step into liquid | 3,459 Posts
Sure looks like the D1 swissy pin is going to be invalidated today.
Below is what I see on the bigger TFs re: usdchf...
Attachment
Attachment
Maybe I should play with Phillip's 5m system a bit. I was a 4hr macd student for a long time.
- #1,776
- Edited 11:42am Aug 11, 2010 11:26am | Edited 11:42am
- Joined Jul 2006 | Status: Trader | 4,090 Posts
Sure looks like the D1 swissy pin is going to be invalidated today.
Below is what I see on the bigger TFs re: usdchf...
Attachment
Attachment
If price does end up getting down to the break of the pin bar, I'll be adding another position there as well considering that these will all be free by then. I have a feeling this setup from 1.0590 is going to be the high.
We had quite a few of these setups last night, I just wish I didn't have a social life sometimes lol "Damnit friends!!! I could have been watching price!"
I dream, therefore I become.
- #1,777
- Aug 11, 2010 11:29am Aug 11, 2010 11:29am
- Joined Jul 2006 | Status: Trader | 4,090 Posts
. Nothing better than enjoying the sun and returning to double digit R:R runners.
As for the usd/chf, I think this is just the retracement to the BEOB two weeks ago. If it breaks the top of the pin though, I am the goat. lol
Like big Jim says, if you enter on the retracement and it's a gain, you're the hero. If not, you're the goat. I'm aggressive so I like the retracement value. I could also be a goat. I find that the amount of money to make on the setups after the retracement is worth the risk that I'm willing to take.
I dream, therefore I become.
- #1,778
- Aug 11, 2010 11:38am Aug 11, 2010 11:38am
- Joined Jul 2006 | Status: Trader | 4,090 Posts
I dream, therefore I become.
- #1,779
- Aug 11, 2010 12:30pm Aug 11, 2010 12:30pm
Yeah, watching price is waaay more fun than having a social life (!) 
We'll see whether swissy will make a higher high or not. If it does, could well be the start of an uptrend. If it doesn't, it's probably going to keep on "ranging".
True what you said about entering on a retrace. O well, as long as you keep milking those winners and quickly cut those losses, you'll do just fine.
We'll see whether swissy will make a higher high or not. If it does, could well be the start of an uptrend. If it doesn't, it's probably going to keep on "ranging".
True what you said about entering on a retrace. O well, as long as you keep milking those winners and quickly cut those losses, you'll do just fine.
It's not about how much you make, it's about how much you don't lose.
- #1,780
- Aug 11, 2010 2:34pm Aug 11, 2010 2:34pm
- Joined May 2009 | Status: step into liquid | 3,459 Posts