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Attachments: Start with $100 using only PA and trading 1 minilot w/1:500 leverage
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Start with $100 using only PA and trading 1 minilot w/1:500 leverage

  • #41
  • Oct 28, 2010 1:21am Oct 28, 2010 1:21am
Quoting Edonya
There was avery nice PB on 4hrs but i couldnt have taken it due to
1. Strong bearish trend
2. There was a support which was broken on 4hrs and i expected the price to test it or not.
Se what has happened it broke the PB and went for aroung 10 pips before turning back. This is intuition guys.

NB: The PB might work but i wasnt comfortable taking it.
"2. There was a support which was broken on 4hrs and i expected the price to test it or not.See what has happened it broke the PB and went for aroung 10 pips before turning back. This is intuition guys.
" - Edonya

Please look at the questions I have on the chart, a response would be appreciated. Thanks
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  • #42
  • Oct 28, 2010 10:41am Oct 28, 2010 10:41am
Quoting jeffokes
"2. There was a support which was broken on 4hrs and i expected the price to test it or not.See what has happened it broke the PB and went for aroung 10 pips before turning back. This is intuition guys.
" - Edonya

Please look at the questions I have on the chart, a response would be appreciated. Thanks
Thanks alot,
The MA which you were inquiring of are EMA8 and EMA21 which shows us the market rhythm. Most of the time the price moves away from those EMAs and then retraces back to them. I got this from 4Hour MACD strategy by Phillip Nel which i usually use when the market is trending. Get a look at the most recent uptrend of EU and put those two EMAs and you will see price was retracing to the two EMAs and i confirm with the MACD for an entry. You can look at that system for more explanation on the system. It is in the commercial section.

Now let me tackle the issue of the break of the support. Look at the chart and you can see i have drawn the blue line which acted as a support for sometime as shown by those arrows. So when price went through,i think around 4 candles from that PB, that is where it broke the support. The PB was formed and i had anticipated that it will touch the support line before going down. It did exactly that although it wasn't 10 pips, you can see in my post i edited almost immediately. It went for 22 pips. I hope that i have answered you question. If not i will be glad to explain it further. Keep learning.
I have been given this information free and i will give it free.
You are always welcome.
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  • #43
  • Oct 28, 2010 11:09am Oct 28, 2010 11:09am
When i was reading Wizards thread in trade2win(He is Trader_Dante), making money trading, he said that most of the time when a PB has been broken the price comes back to test the break out before continuing with that trend(in this case downtrend) i will be looking at this price has it has touched the breakout of that PB. I wont trade it unless i see price action in 4 hrs or Daily.
Any comment is appreciated.
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  • #44
  • Oct 28, 2010 11:18am Oct 28, 2010 11:18am
Price has touched the break out point of the PB. Will look at it and see what happens. 4 hr is forming a PB on FXPRO but wait for it to close
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  • #45
  • Nov 1, 2010 2:33am Nov 1, 2010 2:33am
Hi
It is 1st Nov and hope everybody is fine. I withdrew some money on Friday and i am waiting for them to deduct it from my account and then transfer some to my other account so that i can start with 300 and see how far i can take it.

I will update you on any trade i take and the reason for taking it.
Regards.
  • #46
  • Nov 1, 2010 4:02am Nov 1, 2010 4:02am
Quoting Edonya
Hi
It is 1st Nov and hope everybody is fine. I withdrew some money on Friday and i am waiting for them to deduct it from my account and then transfer some to my other account so that i can start with 300 and see how far i can take it.

I will update you on any trade i take and the reason for taking it.
Regards.
Hi Edonya,

I´m doing a similar experience to. I wish you success.
Subscribed this thread. I´ll be looking for your progress.

Red.
  • #47
  • Nov 2, 2010 4:08am Nov 2, 2010 4:08am
I took a very nice trade this morning

Closed Transactions: TicketOpen TimeTypeSizeItem PriceS / LT / PClose Time PriceCommissionTaxesSwapProfit 168093732010.11.02 04:43buy0.10audusd0.988290.980000.995002010.11.02 05:300.995000.000.000.0067.10 0.00 0.00 0.00 67.10 Closed P/L: 67.10 I didnt know there was AUD rates being released,but it got to my target.
I am in another trade with 3 minilots as shown in the 2 charts below.
One thing you will notice in my trades i combine a number of strategies( MACD 4 Hr strategy by Phillip Nel, Price action from James 16 Trade) Those are the main two which i mostly use.
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  • #48
  • Nov 2, 2010 4:55am Nov 2, 2010 4:55am
Hi
I closed the EURUSD almost immediately after posting the trade.

Closed Transactions: TicketOpen TimeTypeSizeItem PriceS / LT / PClose Time PriceCommissionTaxesSwapProfit 168093732010.11.02 04:43buy0.10audusd0.988290.980000.995002010.11.02 05:300.995000.000.000.0067.10 168110512010.11.02 08:02buy0.30eurusd1.393621.385001.400002010.11.02 11:091.397180.000.000.00106.80 0.00 0.00 0.00 173.90 Closed P/L: 173.90
  • #49
  • Nov 2, 2010 5:22am Nov 2, 2010 5:22am
i could to be posting my closed transaction, if anyone knows how to post them, i will be glad.
Regards.
  • #50
  • Nov 2, 2010 10:38am Nov 2, 2010 10:38am
Hey, Ive been watching your posts with interest. Good Luck!

As for posting charts or history, I use SnagIt, but you can also use the Metatrader function, click on the account history and pull screen up to include what you want to show, then under File, chose Save as Picture, then you can open the picture and crop it to eliminate Excess information, like account numbers etc.
On a separate note, to show a closed trade on your chart, you can open your history, then drag and drop the trade up to your chart... like this;


Quoting Edonya
i could to be posting my closed transaction, if anyone knows how to post them, i will be glad.
Regards.
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  • #51
  • Nov 2, 2010 11:19pm Nov 2, 2010 11:19pm
dbeach777 thank you

Discipline and patience are the two virtues a successful trader needs to have.
I used to overtrade before i acquired these two virtues.
Everybody is born with greed, but very few are born with patience and discipline, so a trader needs to acquire them, whether you like it or not.
Remember to day has a number of news especially for the USD.
Wish nyou all a well analysed trades today.

I am watching the monthly PB of USDCHF, breakout of GBPJPY. if i take any of the two i will post them and show you why i took them.
Regards
  • #52
  • Nov 4, 2010 1:40pm Nov 4, 2010 1:40pm
Hi
This week has been chaotic.
I didnt take any of the two pairs i was watching. The Monthly PB of USDCHF didnt work out as expected.
The rule of this game is wait for a nice setup, analyse it if the odds are in your favour then take.

I NEED TO INFORM YOU THAT I WITHDREW SOME MONEY FROM MY ACCOUNT AND NOW IT IS 201.59$

I wish i knew how to post it here and cover my account number.

This is the trade i took.
I could have waited for the break of the weekly BEOB on EURGBP but when i saw a very nice BEOB on the 4 hrs i had to take on the 4hrs but aiming to manage ity using the weekly TF.

As of now i am in profit and i am unable to close a half of the position coz FXPRO only allows a minimum of 1 minilot. I am not going to withdraw any money till January 2011 and i want to see how far i can take this account using only PA and 1 minilot and increase it as the account increases.

Any querries or comments arehighly welcome.
Regards.
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  • #53
  • Nov 4, 2010 1:49pm Nov 4, 2010 1:49pm
I have posted my account with details excluded.
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  • #54
  • Nov 5, 2010 11:08pm Nov 5, 2010 11:08pm
I didnt close my trade i entered on thursday although i have moved my SL to +5 pips.
Regards.
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  • #55
  • Nov 5, 2010 11:24pm Nov 5, 2010 11:24pm
You have $100 and you're trading the 4 hour chart? You are asking for your ass to be handed to you! Do yourself a big favor and focus on the lower time frames! You'll thank me later!


Quoting Edonya
I have taken my 1st trade using PA and on 4hrs

Although i dint take it on a break but after it retraced.
The rules i followed are:
1. Confluence
2. BEOB
3. Testing of the previous break.
4. Bearish trend
I dont know whether i have missed anything or my analysis is wrong.
I will appreciate your response.
i am right now at $35 positive
  • #56
  • Nov 6, 2010 1:40am Nov 6, 2010 1:40am
Quoting GulfCoastPip
You have $100 and you're trading the 4 hour chart? You are asking for your ass to be handed to you! Do yourself a big favor and focus on the lower time frames! You'll thank me later!
Hi GulfCoastPip
I don't deny that but just follow my journal and you will see that i have even more than quadribled the account. Also just know that i have opened another account with FXPRO and transferred some funds to it so that this one can remain with 200$ which i want to trade using 1 mini-lot although i plan to increase as i build my account.
Your way of trading may be different from mine so in that case my personality cant allow me to trade a TF below 4 hr.
As i am writing this the two accounts combined are over 800$ if i close all my positions at SL and also i withdrew 300$ on Monday.
Watch this journal and see how far i will take this account using only PA, and 4Hr TF and above.
For this one i plan to close at the open of the market on Sunday and i will give reasons then with a chart.
  • #57
  • Nov 6, 2010 7:10pm Nov 6, 2010 7:10pm
Man you already withdrawal? What a joke!
Greetings, BeLikewater
  • #58
  • Nov 7, 2010 12:27pm Nov 7, 2010 12:27pm
I wanted to know how long and fast it takes. But i wont withdraw this one till January 2011.
Regards.
  • #59
  • Nov 7, 2010 12:37pm Nov 7, 2010 12:37pm
hi guy/gals
When starting to master the price action you need to start with one set up. Master it very well before moving to another setup. We have a number of set ups like PB, BEOB,BUOB, IB etc.
I can recommend you to start with PB after mastering it then move to another set up and master it. I guarantee you that you wont regret.
Learning to master one trading setup at a time will help you properly train your brain to become more disciplined and objective, two characteristics that you absolutely must possess if you wish to excel at forex trading. The process of truly mastering and “owning” one price action setup at a time might take months or even years to accomplish, but your chances of making money are increased dramatically by doing so. After you completely master one trading setup you will know almost instantly whether or not your setup is present, there will still be some discretion involved, but owning and mastering a setup means that you have fine-tuned your sense of discretion when it comes to deciding which trades to take and which ones to pass on.
Regards
  • #60
  • Nov 8, 2010 4:05am Nov 8, 2010 4:05am
I closed the trade after it showed signs of not going down.and it was heading to 365EMA in the daily.
Waiting for another opportunity.
Regards.
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