thank you very much mindsphere. please continue to enlighten us. btw, what is interactive trading?
- #2,262
- Edited 5:29am Sep 16, 2010 3:22am | Edited 5:29am
- | Joined Jul 2009 | Status: Trader | 412 Posts
thank you very much mindsphere. please continue to enlighten us. btw, what is interactive trading?
Just took another trade for +12 pips
Edit: Another correlation trade I noticed by didn't take (impending news), would have been around 10 pips in it:
- #2,263
- Sep 16, 2010 4:45am Sep 16, 2010 4:45am
- | Commercial User | Joined Jul 2009 | 1,436 Posts
You have one from me now ... keep up all your good work 
vouch vouch vouch vouch
You have one from me now ... keep up all your good work
- #2,265
- Sep 16, 2010 5:25am Sep 16, 2010 5:25am
- Joined Jan 2010 | Status: Yet to replace my suit in black.... | 3,268 Posts
Hey mate,
Interesting to look forward how you use DB for active trading. Here is your bonus V.
Sorry that I dont use much the MAs so cant comment on your trade (I'm still learing the skills from others too, hehe). All I use currently is the auto s/r lines from DB.
Happy trading
Eric
Interesting to look forward how you use DB for active trading. Here is your bonus V.
Sorry that I dont use much the MAs so cant comment on your trade (I'm still learing the skills from others too, hehe). All I use currently is the auto s/r lines from DB.
Happy trading
Eric
Thanks
I've just taken two trades based on this correlation. Unfortunately I exited too early in both occasions. I would appreciate if you could comment on the trade and tell me if my exits were too conservative, or right for the circumstances. If stratman's around, I'd love to hear his view too (or anyone else who cares to weigh in for that matter).
Edit: Also, I hate to ask - but could a few people vouch for me? I want to start a thread in Interactive Trading, but need 4 vouchers to do this. Instructions on how to vouch for someone...
Hey mate,
Interesting to look forward how you use DB for active trading. Here is your bonus V.
Sorry that I dont use much the MAs so cant comment on your trade (I'm still learing the skills from others too, hehe). All I use currently is the auto s/r lines from DB.
Happy trading
Eric
Ah, the MAs are not that special. SMA60 just tends to provide a good guideline as to where price will bounce. My exits don't have anything to do with the MAs, but were more a judgement on momentum. You seem to be a very astute judge of momentum in your scalping, so I think you'd be very qualified to comment on these exits
Have a look at the image below, perhaps what I am asking will be a little clearer. Thanks mate!
- #2,268
- Sep 16, 2010 5:53am Sep 16, 2010 5:53am
- | Commercial User | Joined Jul 2009 | 1,436 Posts
I quite often exit when I see 'hesitation', 'stalling' .. I can't think of other words to describe it. You get use to seeing price ticks showing this.
Hey Eric. Thanks for the vouch!
Ah, the MAs are not that special. SMA60 just tends to provide a good guideline as to where price will bounce. My exits don't have anything to do with the MAs, but were more a judgement on momentum. You seem to be a very astute judge of momentum in your scalping, so I think you'd be very qualified to comment on these exits
Have a look at the image below, perhaps what I am asking will be a little clearer. Thanks mate!
- #2,269
- Edited 8:27am Sep 16, 2010 7:40am | Edited 8:27am
- | Joined Jul 2009 | Status: Trader | 412 Posts
I quite often exit when I see 'hesitation', 'stalling' .. I can't think of other words to describe it. You get use to seeing price ticks showing this.
To add an extra dimension to my query about the exits, perhaps my entry could have been better:
Hi guys,
Been lurking a little bit reading up on posts.
I have a question which i hope isnt annoying due to its "noobiness" involved.
Im trying to get a grasp of the entry strategy going on.
However maybe im a bit "square headed" but i very rarely use any type of indicators so my chart is pretty much naked.
Ive attached a chart with a question as to how you folks are entering with 3 possible options which makes sense to me. Although im not sure if ive mentioned the one you folks are using. ¿?
I know you folks go down in TF's for more precise entry although ive just posted the 1 TF.
Either way thanks for your time!
Pip
Been lurking a little bit reading up on posts.
I have a question which i hope isnt annoying due to its "noobiness" involved.
Im trying to get a grasp of the entry strategy going on.
However maybe im a bit "square headed" but i very rarely use any type of indicators so my chart is pretty much naked.
Ive attached a chart with a question as to how you folks are entering with 3 possible options which makes sense to me. Although im not sure if ive mentioned the one you folks are using. ¿?
I know you folks go down in TF's for more precise entry although ive just posted the 1 TF.
Either way thanks for your time!
Pip
Hi guys,
Been lurking a little bit reading up on posts.
I have a question which i hope isnt annoying due to its "noobiness" involved.
Im trying to get a grasp of the entry strategy going on.
However maybe im a bit "square headed" but i very rarely use any type of indicators so my chart is pretty much naked.
Ive attached a chart with a question as to how you folks are entering with 3 possible options which makes sense to me. Although im not sure if ive mentioned the one you folks are using. ¿?
I know you folks go down in TF's...
I'm on my mac so no MT4 chart, but here are a couple of Dukascopy charts, showing a good entry & exit:
- #2,273
- Edited 12:27pm Sep 16, 2010 12:06pm | Edited 12:27pm
- | Joined Jul 2009 | Status: Trader | 412 Posts
Another potential entry. I didn't take it, but I'm reviewing tonight's movement.
Factor in correlation from EURJPY, and you get an even better entry. EURJPY was actually bumping into a round number and had not broken it on the GBPJPY entry candle. That's why price retraced 4 pips before moving up. If you had waited 2 1 minute candles, your entry price would only have been 1 pip worse BUT you would have suffered no drawdown at all! Worth it? I think so! Furthermore, we would have had a perfect exit based on the upper channel line serving as resistance.
Probably would have grabbed around 15 pips in this trade.
Factor in correlation from EURJPY, and you get an even better entry. EURJPY was actually bumping into a round number and had not broken it on the GBPJPY entry candle. That's why price retraced 4 pips before moving up. If you had waited 2 1 minute candles, your entry price would only have been 1 pip worse BUT you would have suffered no drawdown at all! Worth it? I think so! Furthermore, we would have had a perfect exit based on the upper channel line serving as resistance.
Probably would have grabbed around 15 pips in this trade.
- #2,274
- Sep 16, 2010 1:58pm Sep 16, 2010 1:58pm
- | Commercial User | Joined Jul 2009 | 1,436 Posts
Thanks again for all your posts Mindsphere.
I got one trade in last night. Here it is:
I got one trade in last night. Here it is:
Upon reviewing the trade, I wonder if a better entry would have been after the strong bullish M1 bar close above 133.50? The risk there is that price would have moved quite far from the swing low. Interested to hear your opinion on this if you're not dead from your 14 hour shift
Take it easy and hopefully for you it's the last programming contract you'll ever need to do
