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  • #322,901
  • Nov 10, 2010 4:06am Nov 10, 2010 4:06am
Quoting T@rantula
Hard yes, because we dont have a strict TRENDING except on h1 and m30. Its hard for me to make an intraday call with a strict target price If i notice sideways movement. But its ok to get 30-40 pips u agree i guess
yeah well i thought was something on medium term like a swing call or something. for a quick trade the level was good right into supply.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #322,902
  • Nov 10, 2010 4:07am Nov 10, 2010 4:07am
Quoting courtt5
Long myself at 3815, TP 3915
where are your short positions dude early morning you were targeting something 1,36 now you are looking long.
  • #322,903
  • Nov 10, 2010 4:08am Nov 10, 2010 4:08am
Same story again as yesterday

I found

JoelKruger



on stocktwist as .........

Hearing talk that a Middle Eastern Sovereign Wealth fund has been buying over last hour...... @

All it needs money ........................
  • #322,904
  • Nov 10, 2010 4:08am Nov 10, 2010 4:08am
Quoting Mr Hatch
do you think, it could make sense if you switched to candlesticks?
when i see your exits, i often spot a certain pattern that i cannot see when looking at a bar chart.
nothing makes sense today brother, I'm out of it...and I do use candlesticks, but do tell what pattern do you see?
Look Sharp/Trade Tight
  • #322,905
  • Nov 10, 2010 4:08am Nov 10, 2010 4:08am
Quoting DMA Trader
yeah well i thought was something on medium term like a swing call or something. for a quick trade the level was good right into supply.
exactly, and TL is still valid.
  • #322,906
  • Nov 10, 2010 4:09am Nov 10, 2010 4:09am
Quoting sisse
I don't think anybody took the short from the ultimate high and ride it to the ultimate low. In my case was a case of rejection of swing high (that was LH) in a clear downtrend LH / LL (H4 charts) that confirmed the move. Filling was a lot later and it was on the rejection of the hourly highs with trigger @ 1.3938.

As you can see, some traders here took it before confirmation and I and some others took it after.

IMO, no approach is better or worst, whatever suit you. In my case, sometimes I can miss the train but thats the cost of reducing drawdowns...nothing...
Just like to offer an opinion Sisse and please don't take this the wrong way, but if you are waiting for confirmation then aren't you increasing the likelihood of drawdown? Your entry is that much further away from your stop and initial tp...

Just my opinion and like you said, no method is really better or worse than the other...
  • #322,907
  • Nov 10, 2010 4:10am Nov 10, 2010 4:10am
Quoting PhAnTi'
u know that u go for 2:1 risk reward?
I know its risky, but high hit rate overcomes it.

At least for the last four months, about %4,5 growth a month

So following it.
  • #322,908
  • Nov 10, 2010 4:13am Nov 10, 2010 4:13am
Quoting Mr Hatch
sticking to shorts
Scalping on a long side. But who cares, n'est-ce pas?
  • #322,909
  • Nov 10, 2010 4:14am Nov 10, 2010 4:14am
Quoting PayTheLimit
nothing makes sense today brother, I'm out of it...and I do use candlesticks, but do tell what pattern do you see?
that tiny flag i posted with wigs to the upside. there is always a good chance that it goes up.
  • #322,910
  • Nov 10, 2010 4:16am Nov 10, 2010 4:16am
Quoting Mr Hatch
that tiny flag i posted with wigs to the upside. there is always a good chance that it goes up.
thanks, I'll keep an eye out...
Look Sharp/Trade Tight
  • #322,911
  • Nov 10, 2010 4:16am Nov 10, 2010 4:16am
Quoting T@rantula
exactly, and TL is still valid.
Tarantula, please see no offense here (!), but could you let us know what is your way of drawing TL ? Or point to a web site you agree with ... I've seen and read so many things about the use of bodies and wicks that I'm sometime lost. I'd really appreciate to understand what do you consider a valid TL.

Thanks in advance (will avoid me to flood the thread just with a ty post ).
Don't just be a sheep : make your own idea of it.
  • #322,912
  • Nov 10, 2010 4:17am Nov 10, 2010 4:17am
This range is rubbish, have we got some big numbers coming out this afternoon or something?
  • #322,913
  • Nov 10, 2010 4:18am Nov 10, 2010 4:18am
Quoting FibbinArchie
This range is rubbish, have we got some big numbers coming out this afternoon or something?
Unemployment Claims and Trade Balance.
Don't just be a sheep : make your own idea of it.
  • #322,914
  • Nov 10, 2010 4:18am Nov 10, 2010 4:18am
LOL........ Yesterday High to Today Low the recent price movement was of 38.2 FIB Level..........
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  • #322,915
  • Nov 10, 2010 4:19am Nov 10, 2010 4:19am
Quoting PayTheLimit
long 3812, sl 3780, tp 3832...
I am afraid that you reward to risk ratio is the wrong way round. A 20 pip profit for a 32 pip risk.

You should be looking at a minimum of 2:1 reward to risk ratio on any trade. Therefore, a 64 pip profit for a 32 pip risk, or a 20 pip profit for a 10 pip risk.

To ensure that you get the right ratio, you need to be patient. If through your analysis you have decided that price will go to 3832 and not go below 3780 before it reaches 3832 then you need to wait for the price to reach the optimum entry.

Therefore, using the same SL of 3780 and TP of 3832, your entry should be at 3797/3798 which gives you the ratio of 2:1. You can create a set-and-forget order, so that you do not have to sit there and stare at the screen until price reaches your entry point that gives you a 2:1 R/R ratio.

In my trade from last night -
http://www.forexfactory.com/showthre...31#post4160031

My entry last night was 1.3744 with a 14 pip SL. My first target was 50 pips (Just shy of 3:1). I have now taken a second TP at 1.3814 (5:1). I still have one more target, but as you can see, my reward to risk ratios are much higher. I always risk (% of account) the same on each trade. I treat each trade exactly the same.

I hope this helps you to determine the right entry point and shows that patience is required. This is my last post for today!

I wish you success with your trading.
  • #322,916
  • Nov 10, 2010 4:19am Nov 10, 2010 4:19am
Quoting FibbinArchie
This range is rubbish, have we got some big numbers coming out this afternoon or something?
Portugal doing an auction, dont know if thats what their waiting for...
Look Sharp/Trade Tight
  • #322,917
  • Nov 10, 2010 4:20am Nov 10, 2010 4:20am
Quoting Mr Hatch
paul, take a look at that chart and tell me about low risk, high probability shorting at 3818-3824
Hello mr hatch I dont dispute the trade at all.

I could just plainly see the trend line was drawn to fit the statement .

tarantula great poster maybe i just spoke my mind and maybe i should just keep silent .

I will not comment on tarantulas posts seeing as i have offended.
If i see misleading posts i will read them and move on

Apologies for causing trouble.
making green pips large and red pips small this is my goal.
  • #322,918
  • Nov 10, 2010 4:20am Nov 10, 2010 4:20am
Quoting Munal
LOL........ Yesterday High to Today Low the recent price movement was of 38.2 FIB Level..........

watching the same thing...
  • #322,919
  • Nov 10, 2010 4:20am Nov 10, 2010 4:20am
Quoting PayTheLimit
Portugal doing an auction, dont know if thats what their waiting for...
any idea when it's likely to conclude? may as well take a nap at this rate...
  • #322,920
  • Nov 10, 2010 4:22am Nov 10, 2010 4:22am
Quoting FibbinArchie
any idea when it's likely to conclude? may as well take a nap at this rate...
Congestion triangle in formation. That will break out.
Don't just be a sheep : make your own idea of it.
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