Islander and Medici trade the European open | Page 144 | Forex Factory

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Islander and Medici trade the European open

  • #2,861
  • Sep 7, 2010 4:24pm Sep 7, 2010 4:24pm
Quoting CoffeeDrinke
Ok so i take it tht pivots might very well have some credibility, but i still dont intend on plotting them because i do not want to clutter my screan, and i also firmly believe tht trading the way advocated on this thread even though it is important to look at S&R and Fibs as in the case of medici, usually when you spot a good setup forming it will mostlikly be driven to the support or resistance very seldom you will get one forming in no mans land.
So it is basically prob the same with the pivots??

But thanks for rpl.
Very relevant point That's a thought that's been on my mind...using divergence and BBs, maybe you don't need the 'levels'?

Could you enlighten us with cluttered screens on how you time your entries without suffering unnecessary drawdown?

Many thanks
  • #2,862
  • Edited 5:18pm Sep 7, 2010 5:14pm | Edited 5:18pm
Quoting medici
Very relevant point That's a thought that's been on my mind...using divergence and BBs, maybe you don't need the 'levels'?

Could you enlighten us with cluttered screens on how you time your entries without suffering unnecessary drawdown?

Many thanks
WOW i feel so honerd haha.
NO i think i am the worste guy here to ask about entries, my entries are slow, i enter at break of candle low or high plus 3-5pips at the 'S&R" areas or the divergence areas whteva one tickles your fancy, thts like my 'confirmation' i always have this weird thing tht i dont know where to put my stop i know you said the other day i must just use hard stop but it doesnt feel right.

Every now and then if there is a massive spike i just can resist doing one of those wonderful limit orders

Not to stroke my own ego here seeing tht you guys here are all experts in open trading but the rules tht i trade give me the least amount of draw down, but my saying is, if it fails it sets me up for the bigger move so i am not to warried about drawdown.
  • #2,863
  • Sep 7, 2010 5:16pm Sep 7, 2010 5:16pm
Just having a read through the days posts, it seems like youtube day so i've selected one for you medici, on one hand It could be your signature tune for a good trade ( give me a just a little bit moooore.. )or alternatively a reflection of your extra curicular activities - I bet you wouldn't say no to having a flit round them with a can of pledge and a duster!!!

Inserted Video
  • #2,864
  • Sep 8, 2010 1:45am Sep 8, 2010 1:45am
Quoting Dr.Scalpall
Just having a read through the days posts, it seems like youtube day so i've selected one for you medici, on one hand It could be your signature tune for a good trade ( give me a just a little bit moooore.. )or alternatively a reflection of your extra curicular activities - I bet you wouldn't say no to having a flit round them with a can of pledge and a duster!!!

http://www.youtube.com/watch?v=9OVEnD9pY7Q

I'm a great believer in checking that zips function correctly.......
Trading Levels with WRBs
  • #2,865
  • Sep 8, 2010 1:52am Sep 8, 2010 1:52am
Some comments on divergence. The higher the time frame the better and MTF's are very strong. Then its about 5 min and 1 min entry at a key level from most prob a 2b set up or hl/lh. Good candles + prob CII divergence also.

If entry seems to be in no mans land either you've missed the reason its turned (a supp/res area from whenever) or price may spike you out to hit the key level.

Anyway gu D chart. Still showing positive divergence with a doji. Lots of upper wicks on 30/15 mins and 5420 area not yet challenged. So perhaps we are heading for LO head fake and then down for now and TWT if D divergence will kick in today. The larger the TF the more divergence can play out before kicking in.

The vol spike might just be 1st trading day after Aug hols and US hol on Mon??

Anyway no trades for me as yet.
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  • #2,866
  • Sep 8, 2010 2:20am Sep 8, 2010 2:20am
Quoting Vantage
Anyway gu D chart. Still showing positive divergence with a doji. Lots of upper wicks on 30/15 mins and 5420 area not yet challenged. So perhaps we are heading for LO head fake and then down for now and TWT if D divergence will kick in today. The larger the TF the more divergence can play out before kicking in.
GU 15 min chart. Vol increasing with nice upper wicks and I missed the simple fact that this effort to fall wasn't producing a result. I missed the move up, that D chart div kicked in nicely.
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  • #2,867
  • Sep 8, 2010 5:15am Sep 8, 2010 5:15am
Ghallo ghallo haha.
I am prob alitte over careful today but only took one trade so far
My view is gu setup nice, but was close to 50pips risk, and i also could not limit order at roundnumber because it didnt reach it so i am not just waiting for NY rather.
Eu i could of taken the sell but it seemd risky taking it, thts my own fault i didnt take it, because it actially setup right, but i am currently in the buy here, but took some off now near 1,27.
Lets hope we get a good selloff today
Attached Image (click to enlarge)
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  • #2,868
  • Sep 8, 2010 8:56am Sep 8, 2010 8:56am
LOL damnit, just plotted pivots again, eu at daily pivot now and gu resisted at r2 if their was a lumber jack here he might of said timber
  • #2,869
  • Sep 8, 2010 9:09am Sep 8, 2010 9:09am
Quoting CoffeeDrinke
LOL damnit, just plotted pivots again, eu at daily pivot now and gu resisted at r2 if their was a lumber jack here he might of said timber
Not so sure gu falling from 5485 area (yet). This mornings news hit that area (high from 1st and 6 Sep) and we had a big reaction. We've just hit that area now and a small fall from here would often mean that 5485 will fail and we'll move up higher.
  • #2,870
  • Edited 9:18am Sep 8, 2010 9:18am | Edited 9:18am
Quoting Vantage
Not so sure gu falling from 5485 area (yet). This mornings news hit that area (high from 1st and 6 Sep) and we had a big reaction. We've just hit that area now and a small fall from here would often mean that 5485 will fail and we'll move up higher.
Well even a small drop would be enough to cover risk so its still ok looking.

Or atlest thts my way of looking at it
  • #2,871
  • Sep 8, 2010 9:52am Sep 8, 2010 9:52am
Quoting CoffeeDrinke
Well even a small drop would be enough to cover risk so its still ok looking.

Or atlest thts my way of looking at it
Nice one.
  • #2,872
  • Sep 8, 2010 10:02am Sep 8, 2010 10:02am
Ok went to round number now lets see
  • #2,873
  • Sep 8, 2010 10:04am Sep 8, 2010 10:04am
Quoting CoffeeDrinke
Well even a small drop would be enough to cover risk so its still ok looking.

Or atlest thts my way of looking at it
Hope you got that stop to BE. Didn't know if there was a news release that sudden jump was a little outta left field.
  • #2,874
  • Sep 8, 2010 10:12am Sep 8, 2010 10:12am
Quoting Vantage
Hope you got that stop to BE. Didn't know if there was a news release that sudden jump was a little outta left field.
I didnt enter haha, it was a mere observation on the pivots.
But i wont be trailing to enter short yet this bar is like 60pips lets hope for a doij haha.
I did enter short on eu though hoping it will go down now lol
  • #2,875
  • Sep 8, 2010 10:35am Sep 8, 2010 10:35am
Well here is my trades for the day.
Hope these two is going to turn out nice it sure seem so if i look at the pivots but who knows.
GL enjoy your day.
Attached Image(s) (click to enlarge)
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  • #2,876
  • Sep 8, 2010 10:57am Sep 8, 2010 10:57am
Vantage seeing tht you are here, i have quite a intesting question i have to ask, i was just wondering now.
Wht happens if you have a stoploss of say 20pips whteva your in a sell, then for some reason, the price gaps up 100pips, wht happens then???
Do you lose a 100pips or 20pips?
  • #2,877
  • Sep 8, 2010 11:06am Sep 8, 2010 11:06am
Quoting CoffeeDrinke
Vantage seeing tht you are here, i have quite a intesting question i have to ask, i was just wondering now.
Wht happens if you have a stoploss of say 20pips whteva your in a sell, then for some reason, the price gaps up 100pips, wht happens then???
Do you lose a 100pips or 20pips?
You lose 100 pips

I had this happen to me last weekend.

On the plus side, if your take profit limit is 20 pips, and it gaps up 100 pips, you get 100 pips profit.. (for take profit I could be thinking about commodities where I do stop orders)
  • #2,878
  • Sep 9, 2010 12:57am Sep 9, 2010 12:57am
Hi all

Once again this morning I saw divergence across 4 timeframes in EU, when this happened the other day the move was pretty big, so seeing them across 4 timeframes this time I attempted to get in.

My timing is still off, the market went up before it went down, but when it did go down it had a nice move of more than 30 pips.

Exscuse the ugly attached pics but I'm not at my normal computer.

I guess I need more patience, when I see a setup I'm scared of missing it, so I try to get into it asap. Vantage has posted he uses a break out of the last bar to get in, what do the rest of you guys do? Med you seem to have an uncanny ability to get in a few pips from the bottom, are you just putting market orders in and buying when you feel it is right, or do you set entry orders at a resistance level?

Also now I'm in, I'm bearish on EU, so I've locked in a 10 pip profit and letting it run, since doing that, the market has ranged back more than 20 pips. How do you guys play your exits?
Attached Image(s) (click to enlarge)
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  • #2,879
  • Sep 9, 2010 1:13am Sep 9, 2010 1:13am
Morning Chaps,
KerrChing!!!, First one of the day as follows, Trade based on price outside BB,Regular divergence indicating direction change (on my timeframe at least!! I haven't looked at the upper tf's yet?) a little bit of belief and way hay 20mins = 25pips - I am happy with amount and so decided to close the trade.

Hope you guys also caught it aswell.

doc.
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  • #2,880
  • Sep 9, 2010 4:29am Sep 9, 2010 4:29am
MR med, Can the CII be used as over bought In this example the indi hit a high of 109 could this be a sign of turning point..?
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