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  • #2,801
  • Sep 23, 2010 1:35am Sep 23, 2010 1:35am
Quoting VEEFX
Thanks Longhorn for your time in providing feedback on my pairs. It helps me reevaluate my decision. We agree on Monthly so won't comment on MN hindsight

On weekly Hindsight, my comments on the weekly chart below
Attachment

On Daily hindsight, my comments on daily chart below
Attachment

On H4, one of my lesson learnt from previous night is to stop restricting my horizon by factoring S/R levels into my hindsight.

Hope this helps you understand my reasoning behind choosing this pair.
EDIT: Sorry... by mistake I used screenshot from EURCHF that I had opened in my platform but the logic/explaination applied to EURAUD also as they are both very similar in PA.
Staying in my lane...
  • #2,802
  • Sep 23, 2010 1:42am Sep 23, 2010 1:42am
Interesting... our weekly and daily charts look VERY different....

My H4 is also attached...

EDIT: LOL... just saw your post....
Attached Image (click to enlarge)
Click to Enlarge Name: euraudH4.jpg Size: 82 KB
Attached Images
  • #2,803
  • Edited 2:33am Sep 23, 2010 1:42am | Edited 2:33am
Quoting paul1
Graeme originally stated he personally is only interested in b.e. trades that survive for thousands of pips 250 pips was not even a leg in an early post.

But we with small accounts are free to diversify at signs of reversal or need to build/add equity.

the methology does not change if you day trade or investing over long term.
Smaller the account then diversify often trying to leave biggest legs .
As your account grows we will be able to diversify less and grow longer legs.
I'am aiming to be ten foot tall soon lol .
Currently my bum is rubbing...
Morning Chaps Ladies, made me laugh your bum being on the floor Paul , I can associate with that LOL. I would like if possible Graeme to cover the 'Diversification' part in his thinking. I am slightly concerned that we may use this part as our 'Wild Card' to exit trades as and when we have some profit/pips on the table. My train of thought taken from this thread is similar to the Novice Comment at Post 2720 2731, are we not just dropping Soldiers into the battle field at the moment to do a Recce as to where we should be?
Vee chasing 80pips profits is slightly confusing me, please no offence Vee you are doing a cracker Job (Much better than I could) but as I said, I thought we where dropping soldiers-get to breakeven and then leave them to see what the market was doing. I understand the difference in starting capital, however Graeme very early in this thread said it made little difference. I would hate to see diversification become our tool to jump in and out which is not what this thread is about....Right????

So Sorry, but I have just lost the plot a bit??? Thought it was: Solidiers in-Get to Breakeven-Ok Boys Dig In! end of...Right? then walk away to next Troop drop excersise?

Please understand my comments are just because I'm learning here and may not understand it all fully, I have no desire to offend, your all doing an amazing job in helping, thank you.

NE
  • #2,804
  • Sep 23, 2010 1:42am Sep 23, 2010 1:42am
Quoting geoffrod
hey VEE, for the sake of clarity, can you try and explain why you wont consider short on the eur/aud, after all it is in a hell of a down trend, the expansion away from a 200 ema could go either way! couldn't it???

i was looking at the 3 you picked, as well as cad/jpy, and gbp/cad

good luck for tonight.

cheers
geoff
Hi Geoff,

Please refer to my reasoning to Longhorn's post. I am also a little bias toward EUR strength today as EURUSD is going up (but so is AUDUSD... so it might very well range across 200ema tonight). I think folks are overlooking the fact that I will ONLY go long once the H1 candle closes above the H4's 200ema level of 1.4065. Only a strong pierce will trigger a long for me... otherwise, I will stay on the sidelines and focus on my next chosen pair. makes sense?
Staying in my lane...
  • #2,805
  • Sep 23, 2010 1:55am Sep 23, 2010 1:55am
Last 3 positions on U/J are still surviving...
Attached Image (click to enlarge)
Click to Enlarge Name: SnapShot044 2010-09-22.jpg Size: 90 KB
Staying in my lane...
  • #2,806
  • Sep 23, 2010 2:01am Sep 23, 2010 2:01am
Quoting VEEFX
Hi Geoff,

Please refer to my reasoning to Longhorn's post. I am also a little bias toward EUR strength today as EURUSD is going up (but so is AUDUSD... so it might very well range across 200ema tonight). I think folks are overlooking the fact that I will ONLY go long once the H1 candle closes above the H4's 200ema level of 1.4065. Only a strong pierce will trigger a long for me... otherwise, I will stay on the sidelines and focus on my next chosen pair. makes sense?

Hey Vee, i dont necessarily disagree with your long forcast, but i was more asking way you might not consider short on this as well, this pair could just as easily bounce off the bottom of the 200 as much as push thru it, the low of the fb on the 4hr might be a spot i would consider to watch for a volitility break down, as well as the push up piercing the 200ema.
just my 2 bobs worth

cheers
geoff
  • #2,807
  • Sep 23, 2010 2:03am Sep 23, 2010 2:03am
@Geoff...

That's what I'm thinking about EUR/AUD. Could go either way... but I'm leaning more to taking a short-side bounce off the 200.
  • #2,808
  • Sep 23, 2010 2:14am Sep 23, 2010 2:14am
Quoting geoffrod
Hey Vee, i dont necessarily disagree with your long forcast, but i was more asking way you might not consider short on this as well, this pair could just as easily bounce off the bottom of the 200 as much as push thru it, the low of the fb on the 4hr might be a spot i would consider to watch for a volitility break down, as well as the push up piercing the 200ema.
just my 2 bobs worth

cheers
geoff
Why I wouldn't consider short? for the same reason as depicted in my EURCHF chart to longhorn... there is no red engulf on H4 yet. we came pretty close to one about 3 H4 candles back and a failed FB (no reversal after the FB 4 H4 candles back) supports my theory that this is going north versus a bounce back from 200ema. Watch out for EUR news release for some PA excitement :-
Staying in my lane...
  • #2,809
  • Sep 23, 2010 2:16am Sep 23, 2010 2:16am
Quoting longhornxtreme
@Geoff...

That's what I'm thinking about EUR/AUD. Could go either way... but I'm leaning more to taking a short-side bounce off the 200.
It's getting close to news release in 15 mins.... so we will never know what would have happened if there was no news during the next hour.
Staying in my lane...
  • #2,810
  • Sep 23, 2010 2:17am Sep 23, 2010 2:17am
Quoting VEEFX
Why I wouldn't consider short? for the same reason as depicted in my EURCHF chart to longhorn... there is no red engulf on H4 yet. we came pretty close to one about 3 H4 candles back and a failed FB (no reversal after the FB 4 H4 candles back) supports my theory that this is going north versus a bounce back from 200ema. Watch out for EUR news release for some PA excitement :-

no worries mate
thanks
cheers
geoff
  • #2,811
  • Sep 23, 2010 2:27am Sep 23, 2010 2:27am
Ahhh Vee... but there's always news in every chart...

I only care about widening spreads... other than that... news shmews.
  • #2,812
  • Sep 23, 2010 2:59am Sep 23, 2010 2:59am
Where'd everybody go? Yarrrrgh!
  • #2,813
  • Sep 23, 2010 3:09am Sep 23, 2010 3:09am
Hi All,

First of all my continued thanks to Graeme & Vee.

Reading the posts about tonight's "chosen direction" for the different pairs illustrates Graeme's points of the market being infinite and random

....you see the market going up.....I see it going down.

.....I put my trend-line there......you put yours there....

One of the major point Graeme has continued to push is PARTICIPATION. If you're not in then you can't reap the infinite yield.

He also mentioned to get rid of preconceptions (eg S/R blah blah) and LET THE MARKET DECIDE.

Is it possible to have two hindsights?

On PA at say the 200EMA, I'll either do THIS or THAT. I am participating.

The important thing is to get out quickly if the market goes against your interpretation.

With this project, do we have to wait for the 20 pip S/L or can we bail earlier?

Just my thoughts,

Keep up the excellent work

Michael
  • #2,814
  • Sep 23, 2010 3:23am Sep 23, 2010 3:23am
Hi all,

2 mq4 tools that may be of use:

#1) MA_PriceCrossover_Email_Alert
This may be of interest given the focus includes using pairs near an EMA. It’s not mine, just a tool in my box that was generously given out in a different thread a long time ago.

Put simply, it draws the EMA for you and alerts you when price touches it

Modes in the input field are self explanatory, defaults are:
MA_Period=200, relevant here
MA_mode =1, which references to use an EMA.
MA_PriceMode = 0, which references to use price close.

#2) Alerter
Again not mine …. but generously given out.
Alerts you when price comes within ‘x’ pips of a trendline (as defined by you).
I use this to alert me when price has moved enough pips beyond my entry to go to b/e or when price is looking to escape various patterns.

It was built sensitive to the format of your text, so to explain by example:
… Draw any trendline | select it | Right click | Trendline Properties | Description field | Alert_#50
“Alert_#50” is just an example of the text you need to enter, the important bits are capital “A” (in “Alert”), underscore, hash, distance from the price that you would like the alert to trigger.

Once triggered the alert will cancel and the text will auto remove itself from the Description field. If you want it to trigger on that line again, just re-enter the text.

As always put them in your experts indicators folder and either compile them or just restart MT4.

Well done for the thread Graeme I think it hits the bullseye for many ‘nearly there’ traders, and good work Vee. Keep it up whilst you both feel you can, what goes around …..

Take care
Attached File(s)
File Type: mq4 MA_PriceCrossover_Email_Alert.mq4   6 KB | 583 downloads
File Type: mq4 Alerter.mq4   4 KB | 577 downloads
wash, rinse, spin . . . repeat
  • #2,815
  • Sep 23, 2010 3:35am Sep 23, 2010 3:35am
Well Vee... it's looking like you were right about EUR/AUD for now.

Did you manage to put on any positions?

I managed to put on 2 REALLY small positions... These are at BE already (I enter with 2 positions and close one out in TP so my BESLs aren't at entry.)
Attached Image
  • #2,816
  • Sep 23, 2010 3:38am Sep 23, 2010 3:38am
Quoting VEEFX
Last 3 positions on U/J are still surviving...
Attachment
Another update on U/J:
2 soldiers struggling to survive
Attached Image (click to enlarge)
Click to Enlarge Name: SnapShot045 2010-09-23.jpg Size: 313 KB
Staying in my lane...
  • #2,817
  • Sep 23, 2010 3:45am Sep 23, 2010 3:45am
Quoting longhornxtreme
Well Vee... it's looking like you were right about EUR/AUD for now.

Did you manage to put on any positions?

I managed to put on 2 REALLY small positions... These are at BE already (I enter with 2 positions and close one out in TP so my BESLs aren't at entry.)
No positions taken on any of the new pairs tonight longhornxtreme... still waiting for H1 to pierce and close above the H4's 200ema at 1.4061 and my alert did not go off yet so waiting patiently... will wrap up this trading session in 15 mins as there is not much price action on my selected pairs.
Staying in my lane...
  • #2,818
  • Sep 23, 2010 3:47am Sep 23, 2010 3:47am
Quoting wooli
Hi All,

First of all my continued thanks to Graeme & Vee.

Reading the posts about tonight's "chosen direction" for the different pairs illustrates Graeme's points of the market being infinite and random

....you see the market going up.....I see it going down.

.....I put my trend-line there......you put yours there....

One of the major point Graeme has continued to push is PARTICIPATION. If you're not in then you can't reap the infinite yield.

He also mentioned to get rid of preconceptions (eg S/R blah blah) and...
right on Michael
Staying in my lane...
  • #2,819
  • Sep 23, 2010 3:47am Sep 23, 2010 3:47am
Quoting wooli
Hi All,

First of all my continued thanks to Graeme & Vee.

Reading the posts about tonight's "chosen direction" for the different pairs illustrates Graeme's points of the market being infinite and random

....you see the market going up.....I see it going down.

.....I put my trend-line there......you put yours there....

One of the major point Graeme has continued to push is PARTICIPATION. If you're not in then you can't reap the infinite yield.

He also mentioned to get rid of preconceptions (eg S/R blah blah) and [b]LET...
Hi Michael, I agree one persons up is another's down, I think Graeme agrees with this and as such ignores it (hope I am interpreting this right?) I think Graeme cares less than others in the direction of the pair when he enters the trade, sure he would like it to go his way every time but I think he is a realist and understands it wont, but hey ho I will just drop another soldier in and see if he can take a fighting position for me....and so on..

I think it is just simply a numbers game to Graeme he understands to get hundreds or thousands of pips you have to speculate at the start. I suppose we all do, however Graeme method is not the in out some of us are all used to.

I think what Graeme has proved to himself and is trying to teach us, if we have the stamina and the guts to stay patient at the start we will be rewarded in the long term. I think we all may understand this concept, however the actual doing may be harder than we think!

Just my view on how I see what Graeme is trying to convey, you understand. I'm sure many will see it diffrently...hey ho we have a new market? LOL

Many Thanks NE
  • #2,820
  • Sep 23, 2010 3:57am Sep 23, 2010 3:57am
If you've participated with minimal risk, moved to BE, there is nothing left to worry about. You've done the best you're going to be able to do. Job done.

On a side note since we're talking in scale, the EUR/AUD has the nicest looking monthly FB it has had in it's 20 month down move. Risking 20 pips for chance of a move back up even a portion of the down is what the lesson is all about.

Nice job. Good choice Vee.
T
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