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Attachments: my trade
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my trade

  • #1,121
  • Aug 12, 2010 9:30am Aug 12, 2010 9:30am
Quoting ben10
hows that eur/yen doing? i dont relise how many times i trade that level (109.50)?
I was planning to short GOLD too but just canceled my limit order at 1212.20. It looked compressed on the 5min but still looked bullish on the 30min.

EURJPY is a great pair for s/r. That and GU are fantastic. It's like S/R = Laws of Physics on those pairs and they make sure to obey them.
  • #1,122
  • Aug 12, 2010 9:37am Aug 12, 2010 9:37am
Quoting Magic Trader
I was planning to short GOLD too but just canceled my limit order at 1212.20. It looked compressed on the 5min but still looked bullish on the 30min.
map the move out by using the priceline of 500 such as 1200.00, 1205.00, 1210.00 and so on

Quoting Magic Trader
EURJPY is a great pair for s/r. That and GU are fantastic. It's like S/R = Laws of Physics on those pairs and they make sure to obey them.
note taken
  • #1,123
  • Aug 12, 2010 10:03am Aug 12, 2010 10:03am
Quoting ben10
my week been really suck ! losing pips is no problem with me but to repeat my own mistake is really annoyed me, imagine if this become a habit to repeat over and over again, i would never be a successful trader.
anyhow thats out of my ches now... i feel better .
I hear you buddy. Hang in there. The more consistent and proficient we become, the closer we come to being full-time traders.

Quoting ben10
map the move out by using the priceline of 500 such as 1200.00, 1205.00, 1210.00 and so on
note taken
Agree 100%. See chart.
Attached Image (click to enlarge)
Click to Enlarge Name: 8-12-GOLD3.png Size: 25 KB
  • #1,124
  • Aug 12, 2010 11:57am Aug 12, 2010 11:57am
back to the 5sec chart setup, try to figure out the best way to trade to avoid over trading:

spot the better "pipe + smoother slope".

set the stops of 4 pips before the trade is execute.

http://img805.imageshack.us/img805/5042/betterpipe.png

http://img696.imageshack.us/img696/1989/chiken.png
  • #1,125
  • Aug 12, 2010 12:04pm Aug 12, 2010 12:04pm
5 second chart

http://img69.imageshack.us/img69/8076/euromx.png
  • #1,126
  • Aug 12, 2010 12:21pm Aug 12, 2010 12:21pm
Quoting Magic Trader

Agree 100%. See chart.
http://img225.imageshack.us/img225/4997/magicf.png
  • #1,127
  • Aug 12, 2010 1:06pm Aug 12, 2010 1:06pm
http://img841.imageshack.us/img841/2258/priceline.png
  • #1,128
  • Aug 12, 2010 1:10pm Aug 12, 2010 1:10pm
http://img530.imageshack.us/img530/85/beride.png
  • #1,129
  • Aug 12, 2010 1:12pm Aug 12, 2010 1:12pm
my bed is calling..... Ciao!
  • #1,130
  • Aug 12, 2010 1:21pm Aug 12, 2010 1:21pm
Quoting ben10
http://img225.imageshack.us/img225/4997/magicf.png

Hi Ben,
MMA ????

thx
  • #1,131
  • Aug 12, 2010 4:09pm Aug 12, 2010 4:09pm
Quoting mrhb30jr
Hi Ben,
MMA ????

thx
Hi mrhb, that would be Multiple Moving Average. Which is the name Daryl Guppy gave a rainbow style of MA's.
  • #1,132
  • Aug 12, 2010 4:24pm Aug 12, 2010 4:24pm
Great trading and charts everyone, loving it. Great to see some Gold action aswell Magic! I had a look at it earlier and the spread was 180! How low does it go on oanda?

I may have mentioned, I've moved to 1 unit trading after a bit of a losing streak, but had a much better day today. One thing that is helping me is Heikin Ashi candles, helping me see trend changes and good for managing exits on stronger entries, like the example below. Back to using capital next week!

Good day for us all tomorrow
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.png Size: 57 KB
  • #1,133
  • Edited 5:05pm Aug 12, 2010 4:41pm | Edited 5:05pm
Quoting Ffrank
... One thing that is helping me is Heikin Ashi candles, helping me see trend changes and good for managing exits on stronger entries, like the example below. Back to using capital next week!

Good day for us all tomorrow
hey frank, that's a nice looking chart! you are on to something with 5 sec i've been unsuccessful so far. 10+ pips is great.

on hindsight though, it looks like you are entering on a counter trend or on contrarian view at that moment, relying on HA. would have been better off perhaps, to wait and enter after compression+ price cutting the spine down and the confirmation after the retrace at around 12:30 to be on a safe side? just my 2 cents...
  • #1,134
  • Aug 12, 2010 4:58pm Aug 12, 2010 4:58pm
beware @around Frank open and also the NY open ...

the time is JST or +9 GMT.
Attached Image (click to enlarge)
Click to Enlarge Name: Noname 57.png Size: 83 KB
  • #1,135
  • Aug 12, 2010 5:22pm Aug 12, 2010 5:22pm
Quoting RisingSun
hey frank, that's a nice looking chart! you are on to something with 5 sec i've been unsuccessful so far. 10+ pips is great.

on hindsight though, it looks like you are entering on a counter trend or on contrarian view at that moment, relying on HA. would have been better off perhaps, to wait and enter after compression+ price cutting the spine down and the confirmation after the retrace at around 12:30 to be on a safe side? just my 2 cents...
Hey mate, thanks Yeah 5 sec can be great, can be baaaad, but think I am getting there.

Yeah I know what you mean, but this 5min chart should show the overall picture better.

Also, because I am using 1 pip SL (so max risk 1.9pips) I can take 'higher risk' early entries. Reversals on HA candles give a few pips movement most of the time, so I will be at break even before most of them go against me -and ride the ones which don't!
Attached Image (click to enlarge)
Click to Enlarge Name: 2.png Size: 53 KB
  • #1,136
  • Aug 12, 2010 5:24pm Aug 12, 2010 5:24pm
Quoting RisingSun
beware @around Frank open and also the NY open ...

the time is JST or +9 GMT.
Thanks for heads up.

*side steps 7am* (your 3pm)
  • #1,137
  • Aug 12, 2010 5:26pm Aug 12, 2010 5:26pm
Quoting Ffrank
Hey mate, thanks Yeah 5 pips can be great, can be baaaad, but think I am getting there.

Yeah I know what you mean, but this 5min chart should show the overall picture better.

Also, because I am using 1 pip SL (so max risk 1.9pips) I can take 'higher risk' early entries. Reversals on HA candles give a few pips movement most of the time, so I will be at break even before most of them go against me -and ride the ones which don't!
frank, you WERE looking at longer tf - i did thought so. very good ride on a confirmed down trend!
  • #1,138
  • Aug 12, 2010 5:29pm Aug 12, 2010 5:29pm
Quoting Ffrank
Thanks for heads up.

*side steps 7am* (your 3pm)
or take advantages of it - be ready for a sharp up or down, reading off MMA and get in about 3 - 5 min before with limit order... my "present" or "experimental" style of news trade
  • #1,139
  • Aug 12, 2010 5:35pm Aug 12, 2010 5:35pm
Quoting RisingSun
frank, you WERE looking at longer tf - i did thought so. very good ride on a confirmed down trend!
Heh heh, cheers buddy. Yeah - I was watching 5sec all day, well when my bosses weren't in the room
Attached Image (click to enlarge)
Click to Enlarge Name: 3.png Size: 52 KB
  • #1,140
  • Aug 12, 2010 5:36pm Aug 12, 2010 5:36pm
Quoting RisingSun
or take advantages of it - be ready for a sharp up or down, reading off MMA and get in about 3 - 5 min before with limit order... my "present" or "experimental" style of news trade
Ok, I'll be there!! Let's see how it goes
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