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Up and Down with TT

  • #181
  • Aug 12, 2010 8:19am Aug 12, 2010 8:19am
You've always had my ear, and RESPECT.
  • #182
  • Aug 12, 2010 8:31am Aug 12, 2010 8:31am
Good day,

It works until it does'nt.

I have come to the realization that indicators do not work. Coming from me, a bit awkward - as I have always been pro-indicator. They just do not work well enough to make you a consistently profitable trader. Period.

Sure, you may have lucky streaks of winning 20 or 30 or 40 trades in a row - but that is just that - a lucky streak. Heck - I have personally traded for a 54 trade run without any loss. Extremely lucky..

Sustainable? No.

Technical analysis is merely statistical review based on activity. Filters if you will. A mere suggestion of possible future activity. Here I include Stochs, Trendlines, Cycles, Patterns, Candlestick formations. Moving averages, Fib's - the whole lot.

It works until it does'nt.

Are there a place for these in trading? For sure - but they will have to be applied correctly and traded with thought - you can not rely on a single indicator alone. Never, ever spend money on a stand-alone indi and think you will be able to trade it successfully - you will fail. I openly admit that my focus and obsession with finding a "system" through indicators - was a total disaster and a waste of my time.

I have deleted 99.9% of my indicators from my computer - only kept 1 to assist me in looking at price levels. I undertake to never ever go back there again.

I feel better now.

Regards
  • #183
  • Aug 12, 2010 8:53am Aug 12, 2010 8:53am
Quoting ams
Couldn't agree more TT...

Price action tells you all to be honest and you are a very good PA reader, no doubts.....

Yup, big daddy's enter the market when no one wants to or when they are doing the exact opposite...I see COT report for the refrence..it's a very good signal of things to come. When there are more than 100k contracts on one side..it's time to change things... Everyone is long UJ...we might even tank to 82-80 before we think of coming back...

Action backed by rumour is trend of the market...tomm they might come and say now ireland...
Good day,

Thank you for your post. All true.

The respect is mutual, AMS. Always has been, always will be. Now - if friggin' GU goes to that 1.5390 TP I posted as target a few weeks back, I am gonna be ever so slightly disappointed.

See you in the trenches

Regards
  • #184
  • Aug 12, 2010 9:00am Aug 12, 2010 9:00am
Quoting calderone
You've always had my ear, and RESPECT.
Good day to you, Sir

I appreciate that, as I have not yet fully deserved it. May however share a number or 2 with you in the near future - to make up for the losses you incurred through the wonderful indicator "system" I presented.

Wish you success

Regards
  • #185
  • Aug 12, 2010 9:11am Aug 12, 2010 9:11am
Quoting TauTrader
Good day to you, Sir

I appreciate that, as I have not yet fully deserved it. May however share a number or 2 with you in the near future - to make up for the losses you incurred through the wonderful indicator "system" I presented.

Wish you success

Regards

It's all in fun my friend! I like being open minded. My objective is always to find a way to enter with the greater trend and catch enough of a move to allow me to get to break even. At least that's what I claim.
  • #186
  • Aug 14, 2010 5:55am Aug 14, 2010 5:55am
Good day,

They say you have to try new things all the time...

I will trade EUR/AUD as soon as market opens - if I do not see anything else that I like. Entry will be long, with TP set @ 1.4510. No SL. Will add a new long every 40 pips or so, if price moves against my initial entry.

Spread is a massive 8 pips on this pair. I say-bring it.http://a.imageshack.us/img153/6449/killbill.gif



Regards
Attached Image (click to enlarge)
Click to Enlarge Name: euraud.gif Size: 23 KB
  • #187
  • Aug 15, 2010 8:42pm Aug 15, 2010 8:42pm
Quoting TauTrader
Good day,

They say you have to try new things all the time...

I will trade EUR/AUD as soon as market opens - if I do not see anything else that I like. Entry will be long, with TP set @ 1.4510. No SL. Will add a new long every 40 pips or so, if price moves against my initial entry.

Spread is a massive 8 pips on this pair. I say-bring it.http://a.imageshack.us/img153/6449/killbill.gif



Regards
Good day,

Closed single position for +65 pips. Other opportunities entered on pairs I am more comfortable with. Charts to follow.

Regards

Regards
Attached Image (click to enlarge)
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  • #188
  • Aug 15, 2010 9:16pm Aug 15, 2010 9:16pm
Good day to you,

These will be my final trades for the week.

Entered long GU @ 1.5577 TP 1.5612
Entered long EJ @ 109.70 TP 110.18
Entered long Dragon @ 133.75 TP 134.58
Entered long UJ @ 85.52 TP 86.22
Entered long AUD/USD @ 0.8938 and 0.8903 TP 0.8954

Will add where discount is offered. Will update as we go.

Regards
Attached Image(s) (click to enlarge)
Click to Enlarge Name: au.gif Size: 15 KB
Click to Enlarge Name: ej.gif Size: 16 KB
Click to Enlarge Name: gj.gif Size: 18 KB
Click to Enlarge Name: gu.gif Size: 16 KB
Click to Enlarge Name: uj.gif Size: 17 KB
  • #189
  • Aug 15, 2010 10:32pm Aug 15, 2010 10:32pm
Good day,

Closed @ TP.

Entered @ 1.5577 closed @ 1.5612 ( + 35)

Regards
  • #190
  • Aug 16, 2010 12:33am Aug 16, 2010 12:33am
Good day,

Closed @ TP

Entered @ 109.70 closed @ 110.18 ( + 48)

Regards
  • #191
  • Aug 16, 2010 6:12am Aug 16, 2010 6:12am
Good day,

Closed @ TP.

Entered @ 0.8938 closed 0.8952 (+14)
Entered @ 0.8903 closed 0.8952 (+49)

Regards
  • #192
  • Aug 16, 2010 6:30am Aug 16, 2010 6:30am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
All good trades TT...well done!


ta
ams


Quoting TauTrader
Good day,

Closed @ TP.

Entered @ 0.8938 closed 0.8952 (+14)
Entered @ 0.8903 closed 0.8952 (+49)

Regards
  • #193
  • Aug 16, 2010 8:00am Aug 16, 2010 8:00am
Quoting ams
All good trades TT...well done!


ta
ams
Good day to you, AMS http://a.imageshack.us/img10/1207/103wz.gif

Just getting some scalps in.. or trying to.

Sitting with 2 more. 1 on Dragon and one on UJ. Will see how they work out, then I am done for the weekhttp://a.imageshack.us/img121/3431/104b.gif.

Have budgets to prepare for the new financial year - so will have to focus there for the rest of the week.

Saw you taking the GU long. Good call!

Trade well, friend

See you around!

Regards
  • #194
  • Edited 2:19am Aug 19, 2010 2:18am | Edited 2:19am
Quoting TauTrader
Good day to you,

These will be my final trades for the week.

Entered long GU @ 1.5577 TP 1.5612
Entered long EJ @ 109.70 TP 110.18
Entered long Dragon @ 133.75 TP 134.58
Entered long UJ @ 85.52 TP 86.22
Entered long AUD/USD @ 0.8938 and 0.8903 TP 0.8954

Will add where discount is offered. Will update as we go.

Regards
Good day to you,

Closed Dragon positions here - need to get out as we are nearing week-end and I have been stuck in this for some time.

Entered 133.75 closed @ 133.96 (+21)
Entered 133.72 closed @ 133.96 (+24)
Entered 133.65 closed @ 133.96 (+31)
Entered 133.54 closed @ 133.96 (+42)

Regards
  • #195
  • Aug 19, 2010 3:31am Aug 19, 2010 3:31am
Will return to have a good look. For now I want to go practice some dance step in the trading station.

Holla back
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #196
  • Aug 19, 2010 9:55am Aug 19, 2010 9:55am
Quoting TauTrader
Good day to you,

These will be my final trades for the week.

Entered long GU @ 1.5577 TP 1.5612
Entered long EJ @ 109.70 TP 110.18
Entered long Dragon @ 133.75 TP 134.58
Entered long UJ @ 85.52 TP 86.22
Entered long AUD/USD @ 0.8938 and 0.8903 TP 0.8954

Will add where discount is offered. Will update as we go.

Regards
Good day,

Divorced UJ. Loaded her up on the pullback on the 4hr support just above 85.00. So - pip negative, but $ positive.

Entered 85.82 Closed @ 85.31 (-51)
Entered 85.67 closed @ 85.32 (-35)
Entered 85.18 closed @ 85.31 (+13)
Entered 85.20 closed @ 85.31 (+11)
Entered 85.22 closed @ 85.31 (+9)
Entered 85.24 closed @ 85.31 (+7)

Nett - 46 pips.

All positions now closed. Finished for the week.

Regards
Attached Image (click to enlarge)
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  • #197
  • Aug 22, 2010 9:40pm Aug 22, 2010 9:40pm
Good day,

Went long @ market open on AU. 2 positions.

Entered @ 0.8869 closed @ 0.8911 ( + 42)
Entered @ 0.8864 closed @ 0.8911 ( + 47)

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: au.gif Size: 24 KB
  • #198
  • Aug 22, 2010 9:42pm Aug 22, 2010 9:42pm
Good day,

Going short on GU @ 1.5565. TP set @ 1.5516. Will add to the short if need be.

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 25 KB
  • #199
  • Aug 22, 2010 10:27pm Aug 22, 2010 10:27pm
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
TT , you still stand with your target of 53xxx


ta
ams


Quoting TauTrader
Good day,

Going short on GU @ 1.5565. TP set @ 1.5516. Will add to the short if need be.

Regards
  • #200
  • Aug 23, 2010 1:23am Aug 23, 2010 1:23am
Quoting ams
TT , you still stand with your target of 53xxx


ta
ams
Good day to you,

Building short - 1.5514 will come into play - not sure where we go from there. I will place a SL in profit if the opportunity arise, and will move TP down if PA dictates.

Short @ 1.5565
Short @ 1.5571
Short @ 1.5579

TP currently remains @ 1.5514

Regards
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