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Silent Service Method

  • #10,561
  • Aug 30, 2010 4:48am Aug 30, 2010 4:48am
As always Chris, nice one........as for my trading this pair......i have a Buy Limit in place at 84.71 that is not yet triggered.....will have to wait but i did not expect a weekly PB to just shoot off on a Monday, i expected some retracement and maybe today evening or tomorrow sometime we see the move up hence set a Buy Limit.................just aimed for the low of the bar on week of 08-Aug-2010...................cheers


Quoting clockwork71
Here is a video version of my take on the USD/JPY. This is either going to be a swan song for this chart.....or the long or a lifetime? Only time can tell.

http://www.youtube.com/watch?v=9dTdXqeBzME
  • #10,562
  • Aug 30, 2010 5:26am Aug 30, 2010 5:26am
Quoting Danku
As always Chris, nice one........as for my trading this pair......i have a Buy Limit in place at 84.71 that is not yet triggered.....will have to wait but i did not expect a weekly PB to just shoot off on a Monday, i expected some retracement and maybe today evening or tomorrow sometime we see the move up hence set a Buy Limit.................just aimed for the low of the bar on week of 08-Aug-2010...................cheers
You should be long by now
Regards
  • #10,563
  • Aug 30, 2010 5:43am Aug 30, 2010 5:43am
Yes howard long triggered........looks like the retracement is still on........lets patiently wait n see how she plays..........

Quoting howard
You should be long by now
  • #10,564
  • Aug 30, 2010 5:50am Aug 30, 2010 5:50am
Thot i share this very very strange chart....NZDJPY weekly...........does anyone think this is strange or is it just me............Bar low 51.14 and Bar high 195.28......anyone else go this kinda bar on your platform?..............is this actually possible? What are your thoughts?? Anyone have a 1:1 R:R...How about setting S/L 10 pips above that high?.......and S/L is hit.....would Mr. Warren got short on this PB???????-----------lol
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  • #10,565
  • Aug 30, 2010 6:21am Aug 30, 2010 6:21am
Quoting Danku
Thot i share this very very strange chart....NZDJPY weekly...........does anyone think this is strange or is it just me............Bar low 51.14 and Bar high 195.28......anyone else go this kinda bar on your platform?..............is this actually possible? What are your thoughts?? Anyone have a 1:1 R:R...How about setting S/L 10 pips above that high?.......and S/L is hit.....would Mr. Warren got short on this PB???????-----------lol
It's just a bad tick. It doesn't appear on other broker's charts. Just means they have some erroneous data in that period.

Although, as a side note, occasionally on Oanda you can play these to your advantage. One really esoteric pair (maybe something HKD or TWD related) kept having a regular pattern of bad-ticks, so I just placed a limit sell order way above the market and lo and behold, one day it got triggered. Then I closed it out a few days later for a profit.

Rare...but it can happen. Most of the time it's just bad data that never gets corrected.
  • #10,566
  • Aug 30, 2010 6:58am Aug 30, 2010 6:58am
Quoting InfinitySL
It's just a bad tick....

Correct. Unfortunately, there is no way to remove that tick that I know of.
  • #10,567
  • Aug 30, 2010 7:04am Aug 30, 2010 7:04am
Au contraire, Mr. Clockwork. In metaquotes, you can go to Tools, History Center, and then click the timeframe the chart is on. You can either manually fix the bad data in question, or re-download the tick data from your broker. This usually fixes the problem.


And now, for our word of the day. "Tepid". Tepid. As in, "the BOJ's action today to get their currency devalued above 85.00 was Tepid.

This has been the word of the day. Thank you.
Disregard all prognostications.
  • #10,568
  • Aug 30, 2010 7:52am Aug 30, 2010 7:52am
Quoting Pidgeon
Au contraire, Mr. Clockwork. In metaquotes, you can go to Tools, History Center, and then click the timeframe the chart is on. You can either manually fix the bad data in question, or re-download the tick data from your broker. This usually fixes the problem.


And now, for our word of the day. "Tepid". Tepid. As in, "the BOJ's action today to get their currency devalued above 85.00 was Tepid.

This has been the word of the day. Thank you.
Really? What do you know......
  • #10,569
  • Aug 30, 2010 11:35am Aug 30, 2010 11:35am
Quoting Pidgeon
Au contraire, Mr. Clockwork. In metaquotes, you can go to Tools, History Center, and then click the timeframe the chart is on. You can either manually fix the bad data in question, or re-download the tick data from your broker. This usually fixes the problem.


And now, for our word of the day. "Tepid". Tepid. As in, "the BOJ's action today to get their currency devalued above 85.00 was Tepid.

This has been the word of the day. Thank you.
I'll second that, I had trouble with bad ticks on a few pairs when I moved to Ava Fx. Also there were a few pairs with seemingly limited history when my previous broker gave much greater history for them (and as you know to trade this method it's best to have a lot of history).

I fixed it by saving the history from my previous brokers feed (in the history center) and then importing it to my new mt4 charts.
Position trader - Anything intraweek is just noise...
  • #10,570
  • Aug 30, 2010 2:33pm Aug 30, 2010 2:33pm
Quoting clockwork71
I still think it is prudent to wait until after NFP to get too excited about this set up....

At least that's my plan?
While we are waiting for NFP, the US Holiday, and large banks to get back to trading in September, here's some things you can do this week instead of trading the Yen bottom which might not be a bottom....

1. Clean the garage

2. Paint houses at Ohio State (what, the college students can't do this?)

3. Work at your regular job, if you have one

4. Have an end of summer cookout or swim party

5. Attend a Tea party rally in D.C., or protest same

6. Short the Euro down to 1.25. Its headed there eventually.

Ok, technically that last one is trading, but look at it this way - if NFP prints high (not as many jobs lost) then the dollar gets stronger and Euro goes down. If it prints low, then economy's still in the crapper, flight to safety, buy durable currencies, and EUR goes down regardless.

Actually, I just like the 1.25 level. Even if we're trending up, we should bounce off of that first.

So Happy Labor Day. It's actually appropriate that we get a jobs report right before it.
Disregard all prognostications.
  • #10,571
  • Aug 30, 2010 7:31pm Aug 30, 2010 7:31pm
Quoting Arfer Daily
I'll second that, I had trouble with bad ticks on a few pairs when I moved to Ava Fx. Also there were a few pairs with seemingly limited history when my previous broker gave much greater history for them (and as you know to trade this method it's best to have a lot of history).

I fixed it by saving the history from my previous brokers feed (in the history center) and then importing it to my new mt4 charts.

Here is a tip for all of you:

prorealtime.com

they have decent amounts of history on 47 forex pairs, and they have a free charting platform that is end of day. (which is plenty good for plotting s/r lines.)
  • #10,572
  • Aug 30, 2010 7:33pm Aug 30, 2010 7:33pm
Quoting Pidgeon

2. Paint houses at Ohio State (what, the college students can't do this?)

3. Work at your regular job, if you have one
They are one and the same.....unfortunately. And no, the little bastards cannot paint their own houses.....unless you count throwing spaghetti on the ceilings.
  • #10,573
  • Aug 30, 2010 11:17pm Aug 30, 2010 11:17pm
Gang -

I just wanted to write a quick thank you note to all of you that have contributed to the thread in your own ways.

Recently, we have seen several threads implode for various reasons in the forum. It appears that drama has taken over as the rule of law as various people come out of the woodwork to "get involved" with "investigations" and others question the validity of other commercial members. There is even the drama revolving around a social network, and the roasting of it's leader on another thread.

While I have no comment on my feelings about these things, I have to admit that the Commercial section is a mess in some areas. One thing that I can say is that the people in this thread have been great. Its rare that you can have this many people on the net treat each other with respect. It seems that in this day and age - that's a rare thing, which I find sad.

You guys have made it possible by being decent human beings. It doesn't mean you have to agree all the time, and I think it would be boring if you did.

But one has to wonder if people could get along as respectfully as you all do on this thread, maybe the political environment would be a little less venomous in the real world?

This place has been a model for how the real world should be.

Again, thank you all so much.

Chris
  • #10,574
  • Aug 30, 2010 11:59pm Aug 30, 2010 11:59pm
And thank you for starting it all with Post #1!
  • #10,575
  • Aug 31, 2010 1:44am Aug 31, 2010 1:44am
Thanks to you too Chris.......most important you started a first class thread and method...........Thanks again..............though 2 trades i have running are in LOSS...ehehehehheh

Quoting clockwork71
Gang -

I just wanted to write a quick thank you note to all of you that have contributed to the thread in your own ways.

Recently, we have seen several threads implode for various reasons in the forum. It appears that drama has taken over as the rule of law as various people come out of the woodwork to "get involved" with "investigations" and others question the validity of other commercial members. There is even the drama revolving around a social network, and the roasting of it's leader on another thread.

While I have no comment on my...
  • #10,576
  • Aug 31, 2010 6:33am Aug 31, 2010 6:33am
I know that I have said this a few times already, but we should see the direction for fall next week, in the form of a break out or maybe a trend line break.

But with the Nikkei falling 3.6% last night, and the fact that we keep sliding downward, the real question is can the big players come in and "save the day" when they get back next week?

While its folly to anticipate a move, it certainly looks doubtful.
  • #10,577
  • Aug 31, 2010 2:45pm Aug 31, 2010 2:45pm
Today saw a pop in the equity markets based upon case-schiller home pricing and consumer confidence. Of course, the markets could not hold those gains. I think this is another example of where we are going.

Now it's a matter of timing....
  • #10,578
  • Aug 31, 2010 3:16pm Aug 31, 2010 3:16pm
Today the pound has dropped about 60 pips below the 1.54 level, a weekly "area of interest" on my chart. At the same time, the Euro is up about the same amount against the pound, and is coming off of the .8200 level on its chart (also an area of interest). This is the 3rd time the 82 level has been tested on the daily chart. MACD is also getting near zero on the GBP chart.

Just something to watch, maybe a nice setup for next week.

I went ahead and shorted the Euro at 1.27, its come off the mini-trend line south that I drew. Am playing this cautiously and will probably close it before Friday.
Disregard all prognostications.
  • #10,579
  • Aug 31, 2010 3:36pm Aug 31, 2010 3:36pm
Quoting clockwork71
Gang -

I just wanted to write a quick thank you note to all of you that have contributed to the thread in your own ways.

Recently, we have seen several threads implode for various reasons in the forum. It appears that drama has taken over as the rule of law as various people come out of the woodwork to "get involved" with "investigations" and others question the validity of other commercial members. There is even the drama revolving around a social network, and the roasting of it's leader on another thread.

While I have no comment on my...
Wow, sounds like I've missed some drama. I was only aware of the Jacko mess but your post reads like there's more drama around.
Well, it's not something I'll be checking out as there are better ways to be entertained and there's really nothing else one could get out of that sort of thing.

Anyway, I just wanted to say the same as albertsy - thank you Chris for running this thread with style and ethics.

It's just one of two threads at FF I follow and it's the only thread I read (almost) all posts on.
  • #10,580
  • Aug 31, 2010 4:49pm Aug 31, 2010 4:49pm
Quoting clockwork71
Gang -

I just wanted to write a quick thank you note to all of you that have contributed to the thread in your own ways.

Recently, we have seen several threads implode for various reasons in the forum. It appears that drama has taken over as the rule of law as various people come out of the woodwork to "get involved" with "investigations" and others question the validity of other commercial members. There is even the drama revolving around a social network, and the roasting of it's leader on another thread.

...
Chris,

A big thanks to you too, you have changed my entire view on trading and the markets. Not to add to any drama, but I got destroyed when I offered a piece of advice over at Jacko's thread - so I too have decided to stay out of it from here on.

In other news, I started reading The New Market Wizards by Jack D. Schwager and I have really started to enjoy the candidness he gets out of the traders. Great book for anyone that wants to get in the minds of some really experienced traders.
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