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Attachments: Odds are with a 4hr KISS
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Odds are with a 4hr KISS

  • #381
  • Oct 19, 2010 6:58am Oct 19, 2010 6:58am
Chart attach
Attached Image (click to enlarge)
Click to Enlarge Name: eu 4hr.gif Size: 17 KB
  • #382
  • Oct 19, 2010 6:59am Oct 19, 2010 6:59am
Quoting Tw0eleven
I hope someone was able to get this trade...I missed it because I was working on the chart examples above that I posted. And this trade happened really quick!
Hi 211, I can't see the words clearly... do u mind ...
  • #383
  • Oct 19, 2010 7:05am Oct 19, 2010 7:05am
Quoting freedomsg
Hi 211, I took this trade few hours ago. The white arrow show a short term bearlish Harami and two candles later was a bearlish engulfment (orange arrow). I should have wait till it retrace back to the 20 ma (lesson learn). I short at the next candle open after the bearlish engulfment. My question is the exit... how do u place it? I tp 10 pips before the red line. Am i doing it wrongly... thanks and cheers

Hi Freedom,

It appears that you are using a slightly different method than what I show on this thread. My Entries are at/near the 20 moving average. But you entered at candle open after the bearish engulfing candle. You will have bigger draw downs on your trade if you don't enter at/near the 20 moving average...and it will reduce your profits.

As for exits...I use 75 pip target profits for pairs like GU, EJ, GJ and only 50 pip targets for EU, AU, UJ. Those are based on entries at/near the 20ma though! The farther you are away from the 20ma, then you have to adjust your profit target to something smaller!
  • #384
  • Oct 19, 2010 7:07am Oct 19, 2010 7:07am
Quoting freedomsg
Hi 211, I can't see the words clearly... do u mind ...
You should be able to click on the chart example, it will open in a new window and then if you click on it again....it should enlarge it for you.
  • #385
  • Oct 19, 2010 7:07am Oct 19, 2010 7:07am
Hi 211, I was at the office when i trade... and forgot about teh retracement. Ya.. I should wait till it retrace back to the 20 ma. Thanks
  • #386
  • Oct 19, 2010 7:08am Oct 19, 2010 7:08am
Quoting Tw0eleven
You should be able to click on the chart example, it will open in a new window and then if you click on it again....it should enlarge it for you.
got it 211.. thanks
  • #387
  • Oct 19, 2010 7:15am Oct 19, 2010 7:15am
EJ 4 hr... bearlish harami + dark cloud + engulf.... Price retrace back to 20 ma...

211... what do u think of this trade?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ej.gif Size: 10 KB
Click to Enlarge Name: ej1.gif Size: 16 KB
  • #388
  • Oct 19, 2010 8:19am Oct 19, 2010 8:19am
Quoting freedomsg
EJ 4 hr... bearlish harami + dark cloud + engulf.... Price retrace back to 20 ma...

211... what do u think of this trade?
I think the entry was on the pullback to the 20ma...if you didn't take it by now, you have to wait for the next trade. It appears the entry would be around 113.40...and price went down to a low of 112.85 a little bit ago, so you'd have a nice little profit at the moment.
  • #389
  • Oct 20, 2010 12:13am Oct 20, 2010 12:13am
Hi 211, EU after a short down trend, a Hammer form and follow by a bullish candle. Do we wait for it to retrace back to the low of the hammer area (which we can reduce our Sl) or wait for it to hit the 20ma and it is also somewhere near the fibo 50% level? The SOC cross and turning up at the moment. Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 16 KB
  • #390
  • Oct 20, 2010 1:54am Oct 20, 2010 1:54am
Quoting freedomsg
Hi 211, EU after a short down trend, a Hammer form and follow by a bullish candle. Do we wait for it to retrace back to the low of the hammer area (which we can reduce our Sl) or wait for it to hit the 20ma and it is also somewhere near the fibo 50% level? The SOC cross and turning up at the moment. Thanks
Hi Freedom,

Very good question! Typically if you just enter at the retrace to the 20ma. And if the hammer area is fairly close to where the 20ma is, then you should be ok. However, if there is some big different like 50pips or more between the two...then you really need to take a look at price action at the 20ma and see if it's stalling or going through it...if it goes through it fairly easy, then you would most likely wait until it retrace to the hammer area. That's a very tough question ask no two trades are exactly alike!
  • #391
  • Oct 20, 2010 2:42am Oct 20, 2010 2:42am
Thank you 211. Any trades u are watching right now?
  • #392
  • Oct 20, 2010 3:39am Oct 20, 2010 3:39am
Quoting freedomsg
Thank you 211. Any trades u are watching right now?
Still waiting for prices to pullback. AU and EU are almost there, GU is a long way off still.
  • #393
  • Oct 20, 2010 2:10pm Oct 20, 2010 2:10pm
Quoting Tw0eleven
Still waiting for prices to pullback. AU and EU are almost there, GU is a long way off still.
Well, I guess you can't win them all! Quite the turn around on these pairs today. On to the next trade!
  • #394
  • Oct 22, 2010 7:11pm Oct 22, 2010 7:11pm
Quite an interesting week...we had some pretty big swings in price. I would have posted this earlier, but I was busy with my day job. Anyway...we started out the week well with 2 winners for 125pips...and then finished the week with 1 loser of 100pips and and 1 winner for 50. So we would have finished up 75pips in profit...not too bad!

The first chart shows the 2 EU trades...the first one was a loser and this does happen from time to time. No one has 100% winners. But the second trade made back some of the loss.

The second chart shows GU and I decided not to trade that pair because price wasn't at the levels I would have liked to see. Reasons on posted on the chart.

Have a good weekend everyone!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu4hr026.gif Size: 23 KB
Click to Enlarge Name: gu4hr29.gif Size: 29 KB
  • #395
  • Oct 23, 2010 7:38pm Oct 23, 2010 7:38pm
Just to say hello!
I like 4H trading, and like your approach. Subscribe to this thead and hope to participate soon.

Great job!

Chris
  • #396
  • Oct 23, 2010 7:42pm Oct 23, 2010 7:42pm
Quoting Krysztau
Just to say hello!
I like 4H trading, and like your approach. Subscribe to this thead and hope to participate soon.
Chris
Hi Chris,

What is it about this 4H trading approach that appeals to you? I look forward to more posts from you. I've been reading a lot of the threads on this site, and have found that everyone's perspective has been really helpful in learning the subtle in's and out's of forex trading. Good luck!
  • #397
  • Oct 23, 2010 8:16pm Oct 23, 2010 8:16pm
Quoting Krysztau
Just to say hello!
I like 4H trading, and like your approach. Subscribe to this thead and hope to participate soon.

Great job!

Chris
Welcome aboard and hope you find much success with this method!
  • #398
  • Oct 24, 2010 7:16am Oct 24, 2010 7:16am
Quoting tradelover09
Hi Chris,

What is it about this 4H trading approach that appeals to you? I look forward to more posts from you. I've been reading a lot of the threads on this site, and have found that everyone's perspective has been really helpful in learning the subtle in's and out's of forex trading. Good luck!
HI,
Actually I've sticked with J16 thread for some time, but it's too messy for me. No offence to anyone but there is that many participants, that I got confused.

Personally I am not strict follower of "formations". I'd rather have a look and think, will it go further will it retrace now or later? If it retraces now, how far will it go, etc...

Seeing the formation gives me a sort of benchmark - first I spot one, then I think - will I agree with that.

I also really like 1M formations [I think I should open a new thread about it ], and very often use 1M TF to enter trade signalled at 4H TF, and I always make fist SL adjstment from 1M point of view.

I consider myself very near to profitability, since I have really nice strokes of winners, but than psychology goes into play and sudenly I feel not that convinient, or forced to do something, and than I do stupid things.

If you'd like to see what I mean this is my demo equity curve:
http://www.myfxbook.com/portfolio/in...e-trader/35885
  • #399
  • Nov 1, 2010 6:35pm Nov 1, 2010 6:35pm
Here is what I call a trade:
Take a look at 4H EU. It has just bounced off 4H trendline up 2 candles ago, yet IF it will go back to 1.3864 to test recent dip it will already be below the trendline. In that case I bet it's going to get even lower. To 1.38 at least...

And take MACD for a confirmation if you like it..
Attached Image (click to enlarge)
Click to Enlarge Name: EU4.PNG Size: 35 KB
  • #400
  • Nov 8, 2010 4:27am Nov 8, 2010 4:27am
Hi,
It's me again.

It may have not been a perfect setup, but my short EJ was relying on my general EUR outlook. Here's a 4H and Daily chart of EJ, and here's post on my blog stating, that I short it, so no one tells me that I am smart afterward...

BTW I see no new post, did thread died, or is it just no setups around..?
Chris
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