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Nearly Naked (Simple Trades)

  • #9,441
  • Nov 16, 2010 9:56pm Nov 16, 2010 9:56pm
Quoting erikte279
Yeah I'm still trying to figure out the exits. Cut your losers quick and let your profits run
Yeah I'm doing a little experiment with tiny position sizes, we'll see what happens. What's changing is that I shouldn't be trading 7 discrete entry criteria with the identical management and exit solutions.

Each trade will be it's own.

Started my own thread too, you can visit here:

http://www.forexfactory.com/showthread.php?t=259075
  • #9,442
  • Nov 16, 2010 9:56pm Nov 16, 2010 9:56pm
Well time to get some rest....1.3560 is set as tp. Should be up around LO
Annoying Precision
  • #9,443
  • Nov 16, 2010 10:00pm Nov 16, 2010 10:00pm
Sounds good, I'll check it out for sure...


Quoting Low
Yeah I'm doing a little experiment with tiny position sizes, we'll see what happens. What's changing is that I shouldn't be trading 7 discrete entry criteria with the identical management and exit solutions.

Each trade will be it's own.

Started my own thread too, you can visit here:

http://www.forexfactory.com/showthread.php?t=259075
Annoying Precision
  • #9,444
  • Nov 16, 2010 11:08pm Nov 16, 2010 11:08pm
Hi all,
Been riding on AU short from 1.0165. Initially I expected it to touch 23.6% fib and bounce back, but the commotion in the area and t the steepness of the previous rise all point to a drop back to base Trend Line, which I would say would be around the .9650 or so. As I will be travelling for a while and wont have access to my platform, I am not sure whether I should close my trades or go with the initial gut feeling of leaving the trade for 2 months or so. Decision time......
Attached Image (click to enlarge)
Click to Enlarge Name: AUD171110.png Size: 50 KB
Find a job that you love and you dont have to work again in your life.
  • #9,445
  • Nov 16, 2010 11:24pm Nov 16, 2010 11:24pm
Quoting tradoholic
Hi all,
Been riding on AU short from 1.0165. Initially I expected it to touch 23.6% fib and bounce back, but the commotion in the area and t the steepness of the previous rise all point to a drop back to base Trend Line, which I would say would be around the .9650 or so. As I will be travelling for a while and wont have access to my platform, I am not sure whether I should close my trades or go with the initial gut feeling of leaving the trade for 2 months or so. Decision time......
boy or boy...tough decision! imo you should lower your S/L to the last retracement and then set an order at 9650 to remove 50% of your position. Then lower your S/L again. Good job on this trade. I wish I had your patience for leaving a trade open so long.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #9,446
  • Nov 16, 2010 11:42pm Nov 16, 2010 11:42pm
Quoting MarcVUM
boy or boy...tough decision! imo you should lower your S/L to the last retracement and then set an order at 9650 to remove 50% of your position. Then lower your S/L again. Good job on this trade. I wish I had your patience for leaving a trade open so long.
Hi Marc,
I know what you would call it, but i didnt have SL on this trade from start. I took a huge position, took profit and bought half back at parity and let the rest ride. What is left is quite sizable as well. I have mentioned my opinion about the current economical conditions here in Aus and wont mention it again, but I think in long term AUD has a lot more fat to loose. So I don't want to be out of a trade when I a travelling.
your suggestion is very good, I think I might try that and put a SL for half, and leave the rest alone for the .6 day!.
Find a job that you love and you dont have to work again in your life.
  • #9,447
  • Nov 17, 2010 2:12am Nov 17, 2010 2:12am
long from 9726.

Target 9830

Resistance 9835.
  • #9,448
  • Nov 17, 2010 6:14am Nov 17, 2010 6:14am
I like to keep my charts pretty simple, just candlesticks.

A clear signal for position traders on the AUD/USD on Monday was the sell signal on the weekly chart... solid up bar and solid down bar the last 2 weeks (referred to as "railway tracks"). This candle formation is arguably the strongest indication of where the market is going of all chart candlestick patterns.

Yesterday I sold @ 0.9875 with a stop @ 0.9942 and TP @ 0.9388

Currently +117 pips (was +153 earlier today).
Attached Image (click to enlarge)
Click to Enlarge Name: AUD-USD Weekly.jpg Size: 71 KB
In the days of old when sailors were bold, and seldom if ever contented.
  • #9,449
  • Nov 17, 2010 6:53am Nov 17, 2010 6:53am
Quoting pt49
I like to keep my charts pretty simple, just candlesticks.

A clear signal for position traders on the AUD/USD on Monday was the sell signal on the weekly chart... solid up bar and solid down bar the last 2 weeks (referred to as "railway tracks"). This candle formation is arguably the strongest indication of where the market is going of all chart candlestick patterns.

Yesterday I sold @ 0.9875 with a stop @ 0.9942 and TP @ 0.9388

Currently +117 pips (was +153 earlier today).
hi pt49

i like your simple style, im still (always) learning but like a simple approach. your TP is 9388....
  • #9,450
  • Nov 17, 2010 7:30am Nov 17, 2010 7:30am
Quoting nick7r
hi pt49

i like your simple style, im still (always) learning but like a simple approach. your TP is 9388....
Yes, that is just above a strong resistance line
In the days of old when sailors were bold, and seldom if ever contented.
  • #9,451
  • Nov 17, 2010 7:37am Nov 17, 2010 7:37am
what time frame do you have for that target?
  • #9,452
  • Nov 17, 2010 7:47am Nov 17, 2010 7:47am
Quoting nick7r
what time frame do you have for that target?
I don't know... probably at least a few weeks.
In the days of old when sailors were bold, and seldom if ever contented.
  • #9,453
  • Edited 4:55pm Nov 17, 2010 11:18am | Edited 4:55pm
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
After missing my pending order by a few pips yesterday I thought this trade was missed. But seems trade got triggered today.
So short now from 1.0256. (UTL + weekly R2)
Had a really tight SL on that one.
First hald cashed in at weekly R1 for 70 pips.
Gonna move Stop to BE now and see if we get to my target around 1.0130.
Would be just above the 50 fib of the upmove. Some areas of Support in between so I doubt we drop down there directly. Hard bounce from weekly R1 already. Strong area of support here. So might also take me out on BE on second half of my position...
Still feel pretty unsure about the overall direction..
Time will tell!
--> BE on the rest..but bounced there again now. So I jumped on again for a lil scalp.. oh choppy day!
Attached Image (click to enlarge)
Click to Enlarge Name: ucad_h4_2010_11_17.gif Size: 27 KB
"Blue Horseshoe loves Anacott Steel!"
  • #9,454
  • Nov 18, 2010 11:30am Nov 18, 2010 11:30am
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting Tuner
We bounced from the 1.3250 level today.= previous area of support.
Seems we will close the day above 50fib of the upmove @ 1.33.
So I see your reasons to go long here already. Considering to do so as well at the moment. (Especially with the strong bullish div on H4)

Original plan was to wait for a retest of the broken UTL of the longer-term downtrend. maybe in confluence with 61.8 fib (if we drop down there tomorrow already). Turning around there would also form an inverted H&S (which, once the neckline is broken, should indicate a real longer...
Some action on EUR/CHF today.
Original plan was to wait for my target area to re-enter longer term long position. But I entered last week around 1.33 already (based on shorter timeframe trendline actually)
Lookin at the daily close the 50 fib did hold now
(@ Flow. Seems your trade was stopped then by that last nasty spike.. :o )
Resistance from October did limit the upside once again. Cashed in most of my position at that area (1.3420-1.3475)
Back in October it was capped by that level for 3 weeks before the rally up continued.
Today we broke out to the upside pretty nice.
Still got a small Long position running now.
Consider to add, if we see a retest of that resistance zone, that should (hopefully) act as support then.
(If not I will end up at BE + and get my original Pending order filled maybe... )
We will see.
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf_daily3.gif Size: 20 KB
"Blue Horseshoe loves Anacott Steel!"
  • #9,455
  • Nov 18, 2010 11:40am Nov 18, 2010 11:40am
Possible Short trade on A/U from 9900 to 9830.
I took it at 9900.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #9,456
  • Nov 18, 2010 4:16pm Nov 18, 2010 4:16pm
Quoting MarcVUM
Possible Short trade on A/U from 9900 to 9830.
I took it at 9900.
I'm waiting for 9930
  • #9,457
  • Nov 18, 2010 4:39pm Nov 18, 2010 4:39pm
Quoting amyc
I'm waiting for 9930
I was just looking at the chart before I read your post and was thinking that 9924 to 9930 would be the high.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #9,458
  • Edited 6:18pm Nov 18, 2010 6:00pm | Edited 6:18pm
Quoting MarcVUM
I was just looking at the chart before I read your post and was thinking that 9924 to 9930 would be the high.

Don’t know guys, it’s been sitting under the DM4 at 99002 for 16 hours. When it goes, up or down, it’s going to fly also China and Hong Kong are opening as I type.
  • #9,459
  • Nov 18, 2010 6:20pm Nov 18, 2010 6:20pm
Quoting Peter-FX
Don’t know guys, it’s been sitting under the DM4 at 99002 for 16 hours. When it goes, up or down, it’s going to fly also China and Hong Kong is opening as I type.

Hi Guys,
I am with yous adding more to my shorts after I got stopped out ( for half lot).
I just shorted at 99.10, no short term target. Planning to swing.
Attached Image (click to enlarge)
Click to Enlarge Name: AUD19111011am.png Size: 29 KB
Find a job that you love and you dont have to work again in your life.
  • #9,460
  • Nov 18, 2010 6:27pm Nov 18, 2010 6:27pm
Quoting tradoholic
Hi Guys,
I am with yous adding more to my shorts after I got stopped out ( for half lot).
I just shorted at 99.10, no short term target. Planning to swing.
check out the candle forming on the M30
When this baby hits 88 miles per hour, you're gonna see some serious s***.
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