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Backing Trades Thru Charts

  • #2,701
  • Aug 16, 2010 5:21pm Aug 16, 2010 5:21pm
bos...
any chart on gj..
Revesal Trader
  • #2,702
  • Aug 16, 2010 5:37pm Aug 16, 2010 5:37pm
GBP/JPY Flat

Attached Image (click to enlarge)
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  • #2,703
  • Aug 16, 2010 5:39pm Aug 16, 2010 5:39pm
Quoting TheLastCoke
GBP/JPY Flat

Attachment
Attachment
thank bos..
u there best...
Revesal Trader
  • #2,704
  • Aug 16, 2010 6:13pm Aug 16, 2010 6:13pm
Hi TLC. I have a question.
You must have a good way of working to keep track of all these currency pairs.
How do you manage these charts.?
What is your way of working?

I mean i work mainly with EU and i have about 4 charts open on EU alone.
But you must have much more open and know when to check a pair again.
How do you manage it, do you have a planning or a timer or ..?
  • #2,705
  • Aug 16, 2010 6:21pm Aug 16, 2010 6:21pm
Quoting TheLastCoke
I'm holding a flat position until it gets out of this range: #2390

Notice that it is above green TL but below 61% Fib.

Thanks TLC.
  • #2,706
  • Aug 16, 2010 8:07pm Aug 16, 2010 8:07pm
GU bullish pennant.

(it just kind of weakly broke, maybe it needs the extra two counts)
Attached Image (click to enlarge)
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  • #2,707
  • Aug 16, 2010 10:28pm Aug 16, 2010 10:28pm
Cadjpy bearish flag
lol, yes I know my charts look like they have different backgrounds and look somewhat blurry..don't know why. If you click them they will show up with normal clarity.
Attached Image(s) (click to enlarge)
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  • #2,708
  • Aug 16, 2010 11:28pm Aug 16, 2010 11:28pm
any pair that have nice setup guy..
i now got 2 op..
long GU and EU..
both play nicely..
looking there 3th op now
Revesal Trader
  • #2,709
  • Aug 16, 2010 11:31pm Aug 16, 2010 11:31pm
Since I want to transmit my chart’s view on a very precise way, I have added an additional feature to the paid subscription service, I am now rating the entries and SL’s in a scale from 1 to 5, being 5 the most appropriate one.
The rates are base on confluences with Fibonacci ratios, TL’s, Channels, Trend direction, Support and Resistance, Round Numbers, RRR’s, previous Highs and Lows etc.

My goal is that you can take full benefit of my charts.
  • #2,710
  • Aug 17, 2010 12:25am Aug 17, 2010 12:25am
Quoting gta5555
Hi everyone,

in the beginning of my trading experience i have learnt in a hard way, that never add to the losing bid.
and then i learnt that most traders take partial or full profits at different levels like trendlines or S/R or technical targets.
but i learned few days ago that most professional trader always add to their winning trades and take full profits at the end. but i didnt get the basic idea and method behind it. if anyone has experience in this thing, can he please teach me.

no need to add any noise in this quality thread, just PM...
Gta the problem is not to add to a losing trade, what I see here is that you are not using proper MM. Think about how much is your risk before anything else and be ready to lose it. Protect your capital at all cost, after you achieve this, profits will come. Remember a wider SL doesn’t necessarily mean a greater risk. Work on your pip value (lot size). Look at the following examples. The risk on both trades is $50 bucks.

50 pips used as SL = $ 50

Attached Image



200 pips used as SL = STILL $ 50

Attached Image
  • #2,711
  • Aug 17, 2010 1:15am Aug 17, 2010 1:15am
CHF/JPY Bearish Confluence

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  • #2,712
  • Aug 17, 2010 1:22am Aug 17, 2010 1:22am
These rates help me a lot, I'm starting to think like you TLC.....LOL

Quoting TheLastCoke
Since I want to transmit my chart’s view on a very precise way, I have added an additional feature to the paid subscription service, I am now rating the entries and SL’s in a scale from 1 to 5, being 5 the most appropriate one.
The rates are base on confluences with Fibonacci ratios, TL’s, Channels, Trend direction, Support and Resistance, Round Numbers, RRR’s, previous Highs and Lows etc.

My goal is that you can take full benefit of my charts.
  • #2,713
  • Aug 17, 2010 1:24am Aug 17, 2010 1:24am
Thanks TLC,

Now i got it ur point, just had an 'AHA' Moment ( http://cdn.forexfactory.com/images/icons/icon3.gif ) about the money management. dont know why this simple thing never came to my mind.

looking forward to learn more from ur thread.

GTA
  • #2,714
  • Aug 17, 2010 1:27am Aug 17, 2010 1:27am
Quoting TheLastCoke
AUD/USD It wasn't a small bump after all

Attachment
AUD/USD Approaching Bump

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  • #2,715
  • Aug 17, 2010 1:39am Aug 17, 2010 1:39am
Quoting TheLastCoke
AUD/USD Approaching Bump

Attachment

TLC...what price is that bump on AU at please?
  • #2,716
  • Aug 17, 2010 1:40am Aug 17, 2010 1:40am
Quoting TheLastCoke
Since I want to transmit my chart’s view on a very precise way, I have added an additional feature to the paid subscription service, I am now rating the entries and SL’s in a scale from 1 to 5, being 5 the most appropriate one.
The rates are base on confluences with Fibonacci ratios, TL’s, Channels, Trend direction, Support and Resistance, Round Numbers, RRR’s, previous Highs and Lows etc.

My goal is that you can take full benefit of my charts.
I like your service very much but it is too expensive to afford it, Please reduce your subscription price so that it is reachable to most of the people like us.
Twitter : @Autofxtrading
  • #2,717
  • Aug 17, 2010 2:05am Aug 17, 2010 2:05am
Hi Buai
I am not TLC , but as I get every day all his templates...
the bump is expected at 0.9068

Quoting Buai
TLC...what price is that bump on AU at please?
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  • #2,718
  • Aug 17, 2010 2:12am Aug 17, 2010 2:12am
Quoting david4u
Hi Buai
I am not TLC , but as I get every day all his templates...
the bump is expected at 0.9068
I know its silly question for you but i am very thankful if you explain me what is bump and how it effects the price movement.
Twitter : @Autofxtrading
  • #2,719
  • Aug 17, 2010 2:24am Aug 17, 2010 2:24am
I just bought EU off of the pivot point, no drawdown.
Target is 23.6 fib level

Edit: Pic 2 with some added confluince..
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  • #2,720
  • Aug 17, 2010 3:06am Aug 17, 2010 3:06am
Looks like a flag now...

Quoting stevefx
GU bullish pennant.

(it just kind of weakly broke, maybe it needs the extra two counts)
Attached Image (click to enlarge)
Click to Enlarge Name: forex105.gif Size: 15 KB
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