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  • #322,221
  • Nov 9, 2010 11:18am Nov 9, 2010 11:18am
Quoting DMA Trader
well i'm not very good on ranges. and your point was very important. we do range most of the time. what was very nice was your ability to spot the range. very fast. at 1.3916- 1.3946 and for a scalper were a lot of pips there.
nice
you really should take a close look at this, it's more than worth it.
  • #322,222
  • Nov 9, 2010 11:20am Nov 9, 2010 11:20am
Quoting T@rantula
i have just came home and see that 3900 has stopped the trade. Fortunately enough the portion of the trade was closed at 3950 the other hit s/l.

Thats -12 pips.

Total for today is 110 pips profit. Thats what I always say to newbie traders. The key to success is cutting ur losses.
wow where did the 110 come from?
  • #322,223
  • Nov 9, 2010 11:20am Nov 9, 2010 11:20am
Quoting cloggie
I agree there will be lots of stops and option barriers down there. The rumour was that today GS was protecting it with PBOC wanting it down for the Renminbi fixing of last Sunday night. I guess they both got their way, we are right back at the day's open.
yeah the funny thing now is that EUR/USD is 1.3876 +0.09% for today ))
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #322,224
  • Nov 9, 2010 11:20am Nov 9, 2010 11:20am
Quoting Mr Hatch
take care if you want to short here. price is kept at this level, there is no real selling apart from a few early birds who pick the plucks.
http://cdn.forexfactory.com/images/icons/icon1.gif No time to wait, gotta run. short @3950 tp 3750...

Posted 5 hr ago
No time to wait, gotta run. short @3950 tp 3750 sl 4050 I expect a 30 pip draw down.
Forum: Interactive Trading Thread: EURUSD
All that is left in FF is just plain garbage. "Cloggie"
  • #322,225
  • Nov 9, 2010 11:22am Nov 9, 2010 11:22am
Quoting Mr Hatch
you really should take a close look at this, it's more than worth it.
i am. but it's too early to call it.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #322,226
  • Nov 9, 2010 11:23am Nov 9, 2010 11:23am
Quoting DMA Trader
i am. but it's too early to call it.

Finding and identifying the ranges clearly is a lot harder then finding the trend and just following the crowd, but working on identifying them is definitely worth it in the long run. It is all about trigger levels, PA and price projection.

I spend a lot of time today not really on calling any trades but just on identifying the ranges and calling out the appropriate trigger levels and targets, and even managed a few fakes and retest before they materialised. It does take a lot of work keeping it up on the thread here, but it was fun doing it.

All of my trading and tea leaf reading is centered around if-then-if. I have very clear levels in my head that trigger either ranges or moves with clearly identified targets and possible SR's to form.

I'll say it again, today was a good day on the thread with lots of meaningful contribution and discussions and it allowed me to focus on the ranges instead of fighting the BS here that spouts up on so many days.

I am of for a tea break, got to put those tea leaves to good use here.
  • #322,227
  • Nov 9, 2010 11:24am Nov 9, 2010 11:24am
1.4 will be the target 4 tomorrow morning


Bye All !



  • #322,228
  • Nov 9, 2010 11:24am Nov 9, 2010 11:24am
Quoting nooblaster
wow where did the 110 come from?
long at 3844 ( partial scale out ) > 3960 full close. thats 116 pips.

long at 3931 scale out > 3950 ( 19 pips) other part stopped at 3900 s/l hit (-31).thats -12


116-12= 104 exactly
  • #322,229
  • Nov 9, 2010 11:28am Nov 9, 2010 11:28am
Quoting DMA Trader
i am. but it's too early to call it.
it's ridiculously easy. just pick any timeframe that you trade, eg m5 and look out for a consolidation. mark that, calculate the pip-range and put lines - or as i like it, rectangles on the screen that are the calculated pip-value apart.

look at those to images, that's gold, weekly levels. look at where the levels are coming from. just a bit of practise and daily preparation, as paradigms shift between the different sessions.


gold is not ranging since long, but the levels are still valid. it's the same for just any market, just that the levels get smaller obviously when you look at lower timeframes.
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  • #322,230
  • Nov 9, 2010 11:29am Nov 9, 2010 11:29am
Quoting cloggie
Finding and identifying the ranges clearly is a lot harder then finding the trend and just following the crowd, but working on identifying them is definitely worth it in the long run. It is all about trigger levels and PA.
Do you have any pointers on finding the range? What time frame to look at? Looking at the ranges you gave today if I look at a m30 line chart it seems to line up fairly well, is that anything close to how you recomend identifying them. I know a large part is experience but trying to learn.

Thank you
Mike
  • #322,231
  • Nov 9, 2010 11:32am Nov 9, 2010 11:32am
What a BS play right now...
They think they are smarter than I am.
  • #322,232
  • Nov 9, 2010 11:33am Nov 9, 2010 11:33am
Quoting FibbinArchie
if that counter trend is going to happen, it should start within next few minutes...
PA looks bearish on M5. I'm out from my 1.3909 short anyway. Just keeping 0.1 lot with sl@be in case this wants to go further down. I may close my short GU (+100 pips) also .
Don't just be a sheep : make your own idea of it.
  • #322,233
  • Nov 9, 2010 11:33am Nov 9, 2010 11:33am
Quoting cloggie
Finding and identifying the ranges clearly is a lot harder then finding the trend and just following the crowd, but working on identifying them is definitely worth it in the long run. It is all about trigger levels, PA and price projection.

I spend a lot of time today not really on calling any trades but just on identifying the ranges and calling out the appropriate trigger levels and targets, and even managed a few fakes and retest before they materialised. It does take a lot of work keeping it up on the thread here, but...

the triggers are still giving me a headache.
  • #322,234
  • Nov 9, 2010 11:33am Nov 9, 2010 11:33am
Quoting cloggie
Finding and identifying the ranges clearly is a lot harder then finding the trend and just following the crowd, but working on identifying them is definitely worth it in the long run. It is all about trigger levels, PA and price projection.

I spend a lot of time today not really on calling any trades but just on identifying the ranges and calling out the appropriate trigger levels and targets, and even managed a few fakes and retest before they materialised. It does take a lot of work keeping it up on the thread here, but it was fun doing it....
yes i saw all your calls. but you know how ranges are. like trends they need to connect at list 2 points. for a trendline. yet you called for a range before a lot of up and down took place to test the limits. so yes indeed nice.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #322,235
  • Nov 9, 2010 11:36am Nov 9, 2010 11:36am
Quoting DMA Trader
yet you called for a range before a lot of up and down took place to test the limits. so yes indeed nice.

Because I look at where a range could possibly form and then judge the PA on the runup to the general area and you can pretty much identify them fairly early. It is the same as identifying a trend really, most here can see the general direction pretty easily, however most traders spend hardly anytime on identifying the ranges even though that's where we spend most of the time.

This was my post from 1 1/2 hours ago and you can see now how the range is starting to form, I called this when price was passing the previous target of the old range breakout, that target then became the trigger to confirm the area where and how the next range would form:

Quoting cloggie
I got 3886-3853 for the intermediate here in my plan, not seen a confirmation of it forming yet.

3886 needs to hold for the previous range play to be considered complete so we can look for the next pattern play to form.
Yes, the range is still in its earliest form of formation, but it is looking pretty darn good here.

Now I just let it sit here and I am already planning the next 3-4 areas of interest to me.

One area I am eyeballing now is 3806 and I am putting a plan together of how she could get there with the appropriate trigger levels and intermediate ranges.
  • #322,236
  • Nov 9, 2010 11:36am Nov 9, 2010 11:36am
as you can see, the ranges shift in intraday trading.

Quoting DMA Trader
i am. but it's too early to call it.
the triggers are the hard part, that's right. until i found out, how to identify them, i trade the edges and breakouts, because the levels themselves give valid targets. lots of tools went to the trash-bin with this setup. and a runner remains a runner, take partial profit, stoploss to be, you name it ;-)
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  • #322,237
  • Nov 9, 2010 11:40am Nov 9, 2010 11:40am
Quoting Mr Hatch
it's ridiculously easy. just pick any timeframe that you trade, eg m5 and look out for a consolidation. mark that, calculate the pip-range and put lines - or as i like it, rectangles on the screen that are the calculated pip-value apart.

look at those to images, that's gold, weekly levels. look at where the levels are coming from. just a bit of practise and daily preparation, as paradigms shift between the different sessions.


gold is not ranging since long, but the levels are still valid. it's the same for just any market, just that the...
well i've argued with a friend that he can't collect more pips on scalping in a week than me in a swing same pair same position size. and he was on 1M 5m 10m in and out. and the pair was trading that time.

what helped me is having a different account just for scalping. so i could improve by looking at past trades every day. to tell you the truth ranges really are very nice for scalping i used to hate ranges. not even touch the pair. since my bias goes with the swing, trend i was always trying to get the breakout. and then i just avoid them
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #322,238
  • Edited 11:59am Nov 9, 2010 11:41am | Edited 11:59am
Quoting kassec
PA looks bearish on M5. I'm out from my 1.3909 short anyway. Just keeping 0.1 lot with sl@be in case this wants to go further down. I may close my short GU (+100 pips) also .
Good job

Yeah, you may want to ignore that post, it doesn't appear to be materialising, I think my times may be all out of kilter what with the DST shift (although I did say it doesn't happen every day)...

Have a good one...

Unless this was it (highlighted) it's usually a heck of a lot more generous than 17 pips tho'
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  • #322,239
  • Nov 9, 2010 11:45am Nov 9, 2010 11:45am
Quoting DMA Trader
well i've argued with a friend that he can't collect more pips on scalping in a week than me in a swing same pair same position size. and he was on 1M 5m 10m in and out. and the pair was trading that time.

what helped me is having a different account just for scalping. so i could improve by looking at past trades every day. to tell you the truth ranges really are very nice for scalping i used to hate ranges. not even touch the pair. since my bias goes with the swing, trend i was always trying to get the breakout. and then i just avoid them
that's personal preference, as i take it. in the state of trading that i am in, being able to deal with the ranging market in a survivable way is a blessing. after the messy results of the february to march ranging that it did, i was sure i would avoid this one, but then i came across a single book that gave me the insight into that. that's basically just 4 weeks ago, i wasn't aware of cloggie back then. but cloggie obviously has the advantage of knowing about the triggers... invaluable.

just a few weeks back, when gator mentioned "big mofu" i was ready to take a vacation, because i feared for my account.

if this range on eu now breaks, you know where it will first stop, right?
  • #322,240
  • Nov 9, 2010 11:47am Nov 9, 2010 11:47am
Quoting Jhig
http://chart.ly/msqcluh

Daily showing reversal Doji bar at the bottom of the bullish channel. Its possible EUR Bulls may take control before the end of the week.

Jawohl ... possible ... why not ...

http://cdn.forexfactory.com/images/attach/png.gif

2010-11-09_16h01_ChartStation_EURUSD Daily _ 001.PNG (135.3 KB)

I like to use Fib-Fans and Fib-Arches sometimes ...

http://cdn.forexfactory.com/images/attach/png.gif

2010-11-09_18h02_ChartStation_EURUSD 005min _ 001.PNG (135.3 KB)

A lot depends on late closing mkts today ...

Mal schaun ...

;-)
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