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Trading "The Constrictor"

  • #61
  • Aug 13, 2010 4:33am Aug 13, 2010 4:33am
Quoting ghous
The missing streak continues!

I was off for my Friday prayers and came back in time to get in on the Nu,

IMO Nzd/Jpy, and Cad/yen look spectacular as well,

Have put in some sell limit orders on these to hopefully get in on a quick retrace if possible. The orders will get pulled off if we don't get a pull back quick.

My goodness! I need to take my trades!!!

g.
Yeah, add AUDJPY on the list too. Uber setups these past tades.
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #62
  • Aug 13, 2010 4:35am Aug 13, 2010 4:35am
Oops, forgot chart.
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy.png Size: 72 KB
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #63
  • Aug 13, 2010 4:40am Aug 13, 2010 4:40am
Cad/Yen is a great example of the times when you can bend the "close below 21 EMA" rule for entry type 3.

An adorable pin bar that stays within the CZ, but it's obviously right off 83.00 ppz - too hot to pass and a pity to have missed.

Attached also is the Nzd/jpy chart with a setup very similar to the Nu. (also missed)

g.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cadyen.png Size: 19 KB
Click to Enlarge Name: nj.png Size: 18 KB
I believe . . .
  • #64
  • Aug 13, 2010 4:44am Aug 13, 2010 4:44am
Quoting soso
Yeah, add AUDJPY on the list too. Uber setups these past tades.


Although I've been on the "missing" side of a lot of trades this month, it's great to see this month unfold so well for the system.

A rough estimate tells me I missed more than 20R worth of profit so far in the month, which was literally money in the bank and that's excluding these recent yen setups...I feel like...

g.
I believe . . .
  • #65
  • Aug 13, 2010 4:48am Aug 13, 2010 4:48am
Quoting ghous


Although I've been on the "missing" side of a lot of trades this month, it's great to see this month unfold so well for the system.

A rough estimate tells me I missed more than 20R worth of profit so far in the month, which was literally money in the bank and that's excluding these recent yen setups...I feel like...

g.
You're trading it live ghous?
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #66
  • Aug 13, 2010 4:50am Aug 13, 2010 4:50am
Quoting ghous
Cad/Yen is a great example of the times when you can bend the "close below 21 EMA" rule for entry type 3.

An adorable pin bar that stays within the CZ, but it's obviously right off 83.00 ppz - too hot to pass and a pity to have missed.

Attached also is the Nzd/jpy chart with a setup very similar to the Nu. (also missed)

g.
Both these setups have moved enough to force me to pull the pending orders off.

If these 2 work out like I expect them to, the missed profit figure will exceed "25R" - a freaking 2-5-R!!!

Damn. lol

g.
I believe . . .
  • #67
  • Aug 13, 2010 4:51am Aug 13, 2010 4:51am
Quoting soso
You're trading it live ghous?
demo soso, I want to give it a couple of months more before I go in live.
I believe . . .
  • #68
  • Aug 13, 2010 4:52am Aug 13, 2010 4:52am
Quoting ghous
demo soso, I want to give it a couple of months more before I go in live.
So true, the healthiest approach. Good luck man, and thanks again for sharing!
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #69
  • Aug 13, 2010 4:58am Aug 13, 2010 4:58am
Quoting soso
So true, the healthiest approach. Good luck man, and thanks again for sharing!
Hey did you go for Eur/Gbp?

It certainly failed to close below 8200, also are you still holding on to that ET4 pin bar from a little earlier?
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.png Size: 19 KB
I believe . . .
  • #70
  • Aug 13, 2010 5:05am Aug 13, 2010 5:05am
Quoting ghous
Hey did you go for Eur/Gbp?

It certainly failed to close below 8200, also are you still holding on to that ET4 pin bar from a little earlier?
Yep, still holding 1/3 of the original position at BE with a target just above RN 0.8.

EDIT: No new position though, as you said it didn't close below 0.82.
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #71
  • Aug 13, 2010 5:06am Aug 13, 2010 5:06am
Quoting soso
Yep, still holding 1/3 of the original position at BE with a target just above RN 0.8.
I believe . . .
  • #72
  • Aug 13, 2010 11:20am Aug 13, 2010 11:20am
Talk about choppiness.

This is where ranging markets kill people. Minor S/R flips can come into the equation big time. A fundi guy will drop in and say "hey that was CAD news impact" but this trade even speaking strictly from a technical view point worked out pretty ok.

g.
Attached Image (click to enlarge)
Click to Enlarge Name: cadyen.png Size: 17 KB
I believe . . .
  • #73
  • Aug 13, 2010 11:46am Aug 13, 2010 11:46am
Euro IB's working along nicely as well, looks like the trade setup is all set to lock in just under 8R.

(The USD/CAD IB setup is already over with a +11R result)

The more I think about these 2 setups the more I want someone to kick me in the ass real hard.

g.

PS: Back to black charts. I have this very bad habit of fidgeting a lot with my color schemes, and the white had started to hurt the eyes a bit. Black rocks (and should contiue to rock for some time at least lol)

g.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.png Size: 22 KB
I believe . . .
  • #74
  • Aug 13, 2010 10:16pm Aug 13, 2010 10:16pm
Saw this one on Uj but passed on it. We were too close to the weekend (and I was expecting some dead PA) and the trade was also running straight into the 86.00 RN and also the very obvious 86.2ish PPZ.

I see it has made it to the PPZ, so should be interesting to see if price can carry on with this momentum next week.

g.
Attached Image (click to enlarge)
Click to Enlarge Name: uj.png Size: 22 KB
I believe . . .
  • #75
  • Aug 14, 2010 12:48am Aug 14, 2010 12:48am
Nothing special on the weeklies except this one.

I love the location, the only thing that could probably have made the setup any better would have been a longer trigger bar.

I'll have to think over this, but given the location this may well be worth a trade.

we'll see...

g.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdchf.png Size: 40 KB
I believe . . .
  • #76
  • Edited 2:54am Aug 14, 2010 2:26am | Edited 2:54am
See chart.
Attached Image (click to enlarge)
Click to Enlarge Name: et1q.png Size: 43 KB
  • #77
  • Aug 14, 2010 3:24am Aug 14, 2010 3:24am
Quoting BWise
See chart.
Not sure what's hypothetical about that B,

That bar never did close above 0.68 did it? Or maybe you meant that the high would have penetrated the 0.68 and the close would have been where it is originally?

Either ways What drives my trades 99% of the times is an authoritative close.

By authoritative close I mean a bar that closes very near or at it's high (for long) or a bar that closes very near or at it's low (for short). Round numbers and factors like traffic come only second and depend heavily on the over all merit (location bar size etc) and nature (counter trend or with the trend) of the setup. So I may or may not trade into traffic and round numbers etc.

For example on that very chart, Nu was bouncing off a bloody brilliant double bottom and the trigger bar itself was great (large and authoritative) hence despite the fact that the trade was heading into 0.68 the trigger was on. However if we had the trigger bar's high touching or surpassing the 0.68 round number and still closing where it originally did, the trade would definitely have been void (in my book) because that would have left a wick on the upside which would have taken away the authoritative look of the trigger bar.

The more you practice the better you hone your instincts - and it is great when things simplify down to just the "gut feeling"

Let me know if I didn't hit the center of the query.

g.
I believe . . .
  • #78
  • Aug 15, 2010 8:04pm Aug 15, 2010 8:04pm
Nu seems pretty content on hitting 7000...

I've also hopped on Nzd/Chf.

g.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: nu.png Size: 24 KB
Click to Enlarge Name: nc.png Size: 25 KB
I believe . . .
  • #79
  • Aug 16, 2010 12:16am Aug 16, 2010 12:16am
Quoting ghous
Nu seems pretty content on hitting 7000...

I've also hopped on Nzd/Chf.

g.
There we go!

0.7 hit and a bounce off it as well...

Can we now get a pull back to that last low and a resumption of the down trend so I can move my stop to just above that blue price flip?

Let's see.

g.
Attached Image (click to enlarge)
Click to Enlarge Name: nu.png Size: 25 KB
I believe . . .
  • #80
  • Aug 16, 2010 1:35am Aug 16, 2010 1:35am
Stop to BE, and a manual close maybe in order if the price flip does not hold.

g.
Attached Image (click to enlarge)
Click to Enlarge Name: nu.png Size: 24 KB
I believe . . .
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