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  • #1,781
  • Aug 11, 2010 5:11pm Aug 11, 2010 5:11pm
Quoting Dhb
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.

I got owned lol Oh well, today I was the goat. Tomorrow very well may be a totally different story. That's why I dislike the dailies though too...if I am going to take a loss, I want it to be quick so that I can move on. I passed up quite a few solid setups today due to that.
I dream, therefore I become.
  • #1,782
  • Aug 11, 2010 6:12pm Aug 11, 2010 6:12pm
Yeah, I've tried D1 and H4 as per J16's advice, in the early days of my journey, but I'm pretty much convinced shorter TF's are more my kind of thing as well. While I am patient enough to wait for a good setup, once I'm in, I want things to play out quickly. Still occasionally do a little demo trade on H4 just for fun basically, but my main focus now is on M5.

Speaking of which, my fiber trade just keeps on dropping. Today has been incredible. It seemed to be slowing down earlier this evening, and since I was going to the gym, I set my stop tight, just above the 50 SMA. Didn't get stopped out. Now it seems to be gathering pace again. Was expecting some sort of retrace by now...

Too bad it's demo money. It's up like 175 pips, with a stop of 8, including spread.

I'm doing this M5 stuff on an old oanda account. It's reduced to approximately 50 to 60% of what it used to be when I opened it, and I'm planning to trade it back up again to its original equity using M5 Ryanmcd/PhilNel stuff. Only after I've done that, am I going to test the water with a small live account, so today's trade will help me get on in some way after all.

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It's not about how much you make, it's about how much you don't lose.
  • #1,783
  • Aug 11, 2010 6:13pm Aug 11, 2010 6:13pm
Hey Mike,
Just wanted to pop in and say Hi!Check your journal everyday.Really enjoying the posts on the testing you have been doing,keep it up!
  • #1,784
  • Aug 11, 2010 6:20pm Aug 11, 2010 6:20pm
Quoting Dhb
Yeah, I've tried D1 and H4 as per J16's advice, in the early days of my journey, but I'm pretty much convinced shorter TF's are more my kind of thing as well. While I am patient enough to wait for a good setup, once I'm in, I want things to play out quickly. Still occasionally do a little demo trade on H4 just for fun basically, but my main focus now is on M5.

Speaking of which, my fiber trade just keeps on dropping. Today has been incredible. It seemed to be slowing down earlier this evening, and since I was going to the gym, I set my stop tight,...
Hello Dhb,
Enjoying your posts as well.How long have you been on your journey?Your profile says less then a year.If so you've come pretty far in that time.Looking forward to your future posts,Have a great evening!..Josh
  • #1,785
  • Aug 11, 2010 6:46pm Aug 11, 2010 6:46pm
Guess I'm the goat too. lol
  • #1,786
  • Aug 11, 2010 6:52pm Aug 11, 2010 6:52pm
Quoting calderone
Guess I'm the goat too. lol
I would have been also,but somehow my order got cancelled last night.Not sure what happened.I use Oanda,and I have never had problems before.
  • #1,787
  • Aug 11, 2010 7:07pm Aug 11, 2010 7:07pm
Quoting jlmac27
I would have been also,but somehow my order got cancelled last night.Not sure what happened.I use Oanda,and I have never had problems before.
Must have a friend at Oanda.
  • #1,788
  • Edited 9:32pm Aug 11, 2010 9:21pm | Edited 9:32pm
Quoting Dhb
Yeah, I've tried D1 and H4 as per J16's advice, in the early days of my journey, but I'm pretty much convinced shorter TF's are more my kind of thing as well. While I am patient enough to wait for a good setup, once I'm in, I want things to play out quickly. Still occasionally do a little demo trade on H4 just for fun basically, but my main focus now is on M5.

Speaking of which, my fiber trade just keeps on dropping. Today has been incredible. It seemed to be slowing down earlier this evening, and since I was going to the gym, I set my stop tight,...
Heck yeah brother, that trade is prime time! That's what feels good is seeing a trade with that little risk making soo much cash. People say you shouldn't get too excited about that, but IMO if that's not exciting, you're probably dead. I love low risk trades that turn into massive gains.

I still trade the 4 hour charts actively due to the percentage that become gains compared to losses (It's floating above 80% although fluctuating a lot lately). Those setups at the 21 ema on 4 hour TFs are my bread and butter on the table lol

BTW, how's this for a son of a gun!?!? hahahh It's teasing me now. Teasing me!!!

Forcing me to enter on it. This is a money setup. Divergence with that nice of a bar? The only way I wouldn't take it is if somebody chopped my arms off right as I was pulling the trigger.
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I dream, therefore I become.
  • #1,789
  • Aug 11, 2010 9:22pm Aug 11, 2010 9:22pm
Quoting jlmac27
I would have been also,but somehow my order got cancelled last night.Not sure what happened.I use Oanda,and I have never had problems before.

I wouldn't call that a problem brother! I would have saved a buncha beans if that happened lol
I dream, therefore I become.
  • #1,790
  • Aug 11, 2010 9:24pm Aug 11, 2010 9:24pm
Quoting calderone
Guess I'm the goat too. lol
lol It happens to the best of us my man! The good thing is that there are always profits to be taken tomorrow!
I dream, therefore I become.
  • #1,791
  • Aug 12, 2010 4:17am Aug 12, 2010 4:17am
Quoting jlmac27
Hello Dhb,
Enjoying your posts as well.How long have you been on your journey?Your profile says less then a year.If so you've come pretty far in that time.Looking forward to your future posts,Have a great evening!..Josh
Hi there Josh,

It's nice to know my spam is enjoyable to some. Thanks.

My profile is still correct. I think I really started studying trading in september last year, so in a few weeks, I'll have to update my profile.

My first year could be summarized in the following way: reading vast amounts of info (must have read at least 4-5k pages on FF alone over the last year, 2.5k of which J16), losing lots of demo ca$h while finding a style and TF that suits my personality. I think I may have found my little niche now, so my second year is all going to be about honing my skills so that I can gradually move to going live once my demo performance gives me sufficient confidence to do so.

Boy
It's not about how much you make, it's about how much you don't lose.
  • #1,792
  • Aug 12, 2010 4:32am Aug 12, 2010 4:32am
Quoting mike w

BTW, how's this for a son of a gun!?!? hahahh It's teasing me now. Teasing me!!!

Forcing me to enter on it. This is a money setup. Divergence with that nice of a bar? The only way I wouldn't take it is if somebody chopped my arms off right as I was pulling the trigger.
Careful there, Mike. If it were a Jankone-style M5 trade, you'd want the second high to penetrate the upper BB (show exhaustion). That has not happened here. While there is definitely bearish divergence, I'd be watching this one carefully.

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Btw, got stopped out on my euro trade this morning/last night. Was staying up until the Tokyo open, which is at 2 AM here in mainland Europe. Did not like the mid BB rejection, which to me indicated a possible correction/retracement after the tremendous drop earlier, and I did not fancy giving back too much of my profit, so I moved my stop even closer to 1.2870. Got stopped out for an approximate 16.5 : 1 R:R. While nice, it's still only one trade. It was skill to get in where I did, but it was dumb luck that it went as far down as it did.

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It's not about how much you make, it's about how much you don't lose.
  • #1,793
  • Edited 8:09am Aug 12, 2010 7:57am | Edited 8:09am
I've just exited for 50 on that usd/chf 4 hour short as we're coming up to a trouble area. Other than that, I've seen literally nothing worthwhile on the 5 minute charts today. When I take CT trades, I'm out at the very first trouble area more often than not.
I dream, therefore I become.
  • #1,794
  • Aug 12, 2010 11:47am Aug 12, 2010 11:47am
Quoting Dhb
Careful there, Mike. If it were a Jankone-style M5 trade, you'd want the second high to penetrate the upper BB (show exhaustion). That has not happened here. While there is definitely bearish divergence, I'd be watching this one carefully.

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[size=1]Btw, got stopped out on my euro trade this morning/last night. Was staying up until the Tokyo open, which is at 2 AM here in mainland Europe. Did not like the mid BB rejection, which to me indicated a possible correction/retracement after the tremendous drop earlier,...
I trade the 4 hour a bit different than I do the 5's. On the 5's, if there isn't a divergent setup and if it isn't exceedingly overbought, then I won't enter. On the 4 hour TF, I'll enter a setup if we see the divergence with a solid bar. I guess I could say it's more "slacked" but it's not at the same time. That's a tough one to explain really. lol

That Euro trade was money brother. It looks like the trend is changing now. I've been in and out of the euro, usd/chf, and aussie for the past few hours now. We're starting to slow down a bit now.

The aussie has just given entry after entry these past few hours. Divergent setups and then with the trend as well.
I dream, therefore I become.
  • #1,795
  • Aug 12, 2010 12:20pm Aug 12, 2010 12:20pm
Quoting mike w
I trade the 4 hour a bit different than I do the 5's. On the 5's, if there isn't a divergent setup and if it isn't exceedingly overbought, then I won't enter. On the 4 hour TF, I'll enter a setup if we see the divergence with a solid bar....
You make trading the 4's sound hard, lol.

Anyway, your swissy trade worked out, and that's what matters. Btw, it seems to be forming a bullish pin with hidden div right now on my Alpari UK feed. Maybe it's going to break out of the range after all.

To be honest, I didn't really go over any charts in great depth today. Basically only checked swissy today after I read you took the trade, lol. I'm sure that after the last few days, a lot of pairs are now in some consolidation. Just look at the fiber daily chart. It's been a while since we had emotion like that running the show. I'll be back. Tomorrow that is.
It's not about how much you make, it's about how much you don't lose.
  • #1,796
  • Aug 12, 2010 12:36pm Aug 12, 2010 12:36pm
Quoting Dhb
You make trading the 4's sound hard, lol.

Anyway, your swissy trade worked out, and that's what matters. Btw, it seems to be forming a bullish pin with hidden div right now on my Alpari UK feed. Maybe it's going to break out of the range after all.

To be honest, I didn't really go over any charts in great depth today. Basically only checked swissy today after I read you took the trade, lol. I'm sure that after the last few days, a lot of pairs are now in some consolidation. Just look at the fiber daily chart. It's been a while since we had...
lol That's my bad! Sometimes I wish I was a little more eloquent with my words, that's for sure. I re-read that and realized it makes almost no sense if it weren't myself reading it.

Yeah, I have the same thing on my charts for the swissy too. I like the looks of it really, with the fact that we are retesting the previous range more or less.

I agree 100% too, that euro move definitely wasn't something we see every day. Panic maybe, all I know is that it shot down and I have no idea where it's heading until I see some PA.

Have a good one brother!
I dream, therefore I become.
  • #1,797
  • Aug 12, 2010 12:39pm Aug 12, 2010 12:39pm
Damn! I'm glad you wrote that Boy, this is looking damn nice to me. I'm going to trade this setup for sure if it closes as is at 2 o' clock.
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I dream, therefore I become.
  • #1,798
  • Aug 12, 2010 1:03pm Aug 12, 2010 1:03pm
Quoting mike w
Damn! I'm glad you wrote that Boy, this is looking damn nice to me. I'm going to trade this setup for sure if it closes as is at 2 o' clock.
Scratch that, it turned to junk in the last 15 minutes.
I dream, therefore I become.
  • #1,799
  • Aug 12, 2010 1:05pm Aug 12, 2010 1:05pm
Quoting mike w
Scratch that, it turned to junk in the last 15 minutes.
hey Mike,

Wassup bro,

Great anticipation on the Usd/Chf

g.
I believe . . .
  • #1,800
  • Aug 12, 2010 1:08pm Aug 12, 2010 1:08pm
Quoting ghous
hey Mike,

Wassup bro,

Great anticipation on the Usd/Chf

g.

What's happenin Ghous?! I hope everything's good for ya man, it's been a while.

Yeah, that would have been A+ IMO if it had closes as it was, but now I wouldn't touch it if I had to. Are you still running the 4 hour TF?
I dream, therefore I become.
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