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  • #2,441
  • Nov 26, 2010 2:00am Nov 26, 2010 2:00am
A more normal daily range for the GBP, I know everybody is making $$$$ short the EUR but for some reason I am on GBP and the Aussie....

Watching for possible Asian session breakout at London open.....???
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Canadian by birth Australian by choice
  • #2,442
  • Nov 26, 2010 5:23am Nov 26, 2010 5:23am
OK, jinxed those trades when I posted, they retraced quickly, got out, they dropped again but now I changed to watching EURO, all indicators down, signal on 5M chart, still some range left in that, Day Support 3 at 1.32, below that, lookout, anything could happen with short USA session and debt concerns in Europe, I need more screens and faster computer
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Canadian by birth Australian by choice
  • #2,443
  • Nov 26, 2010 7:42am Nov 26, 2010 7:42am
De Jevu all over again on the EURO at USA open, needs to crack 1.32 this time to continue with trend of lower lows and lower highs, should have stuck with GBP, it has already passed it'd DS-3 and going down.....still, give it some time....
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Canadian by birth Australian by choice
  • #2,444
  • Nov 26, 2010 8:02am Nov 26, 2010 8:02am
the old resistance becomes support
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Canadian by birth Australian by choice
  • #2,445
  • Nov 26, 2010 3:07pm Nov 26, 2010 3:07pm
Sorry I don't say much here ... am concentrating on my own trading and building more teaching at my website.

Snowman, about the breakouts ...

A lot of people enter on the break out as they don't want to miss the big move of the day. This typically means a large stop. I don't like large stops

I patiently wait for a small stop opportunity. Yes, I might miss a big move ... but not often. Take this trade I did today. I had already made 20 pips by exiting at the breakout (where most are entering) and waited for the retrace for my small stop entry to bag another 26 pips.

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Here is a picture of my live account to show that I actually did take these trades ...

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Why did I exit at 26 pips when there was more to have? A problem that I have been working on is my exits ... too often I have been 20 pips in profit and left it on the table ... a common problem for most of us? I had already made 20 pips on previous trade (typically I would have lost that too by holding on) so an extra 26 made a nice bag for the day of 46 ... no need to be greedy!
  • #2,446
  • Nov 26, 2010 3:25pm Nov 26, 2010 3:25pm
Hello Stratman,

Trading the day after the 2nd biggest holiday in the usa and when US stock markets are only open half a day? Nice trade though but I stayed out of the market the last two days.

Regards,
Jeff


Quoting stratman
Sorry I don't say much here ... am concentrating on my own trading and building more teaching at my website.

Snowman, about the breakouts ...

A lot of people enter on the break out as they don't want to miss the big move of the day....
  • #2,447
  • Nov 27, 2010 12:31am Nov 27, 2010 12:31am
Hi Stratman,
Great trade. I was wondering what made you wait as long as you did during the retrace to take that trade? I saw opportunities during the retrace that would have caused me to enter too early and either lose pips or break even at best.


Quoting stratman
Sorry I don't say much here ... am concentrating on my own trading and building more teaching at my website.

Snowman, about the breakouts ...

A lot of people enter on the break out as they don't want to miss the big move of the day....
  • #2,448
  • Nov 27, 2010 1:58am Nov 27, 2010 1:58am
Quoting TheSnowman
the old resistance becomes support
I have the same thought as you. I'm thinking resistance will become Temp support.

Maybe we can see an upward move to 3500 if 3200 can hold next week.

We have a lot of Turmoil in the EUR region, and Ireland is releasing their balance sheets on DEC 5th.
  • #2,449
  • Nov 27, 2010 9:48am Nov 27, 2010 9:48am
Hello Stratman,

Your dashboard is simply the best tool i have come across in trading the forex. You are a truly a giver for everything you do for everyone. If anyone does not take advantage of your wonderful services they are missing out.

Regards,
Jeff
  • #2,450
  • Nov 27, 2010 1:52pm Nov 27, 2010 1:52pm
Quoting azjeff
Hello Stratman,

Your dashboard is simply the best tool i have come across in trading the forex. You are a truly a giver for everything you do for everyone. If anyone does not take advantage of your wonderful services they are missing out.

Regards,
Jeff
Thanks Jeff.
  • #2,451
  • Nov 28, 2010 9:00am Nov 28, 2010 9:00am
Quoting azjeff
Hello Stratman,

Your dashboard is simply the best tool i have come across in trading the forex. You are a truly a giver for everything you do for everyone. If anyone does not take advantage of your wonderful services they are missing out.

Regards,
Jeff
---

Stratman,

I purchased a copy of dashboard in August 16, but not actively using it until my computer was corrupted. I sent several email requesting access to the site for a download but did not receive any reply. Although I am planning to open a account w/ ducascopy that will allow me for a free copy, I still need a copy for my mt4 transaction. I used my email address registered in this forum. Thank you for giving a moment of your time for this request.

Edd
  • #2,452
  • Nov 28, 2010 12:16pm Nov 28, 2010 12:16pm
Quoting Edd Ganuelas
... I sent several email requesting access to the site for a download but did not receive any reply ...
Hi Edd, I'm not sure how I have missed your emails ... can you private message me here on forex factory giving me your email address? I will do some checking at my end and then email you.
  • #2,453
  • Nov 28, 2010 9:50pm Nov 28, 2010 9:50pm

I M P O R T A N T


From today, this thread will be the 'trading room' for pipware.com

Past problems with this thread have been my teaching and faq are scattered throughout ie difficult for you guys to follow. I have specific threads at pipware.com for support and teaching etc. Teaching thread is free to all and will have more in it shortly.

I started a thread for my trading room at pipware.com but this thread here will be much better for all

Cheers
Rob
  • #2,454
  • Nov 28, 2010 10:08pm Nov 28, 2010 10:08pm
We had good breaks of the SMA60 resistance on H1 and H4 but still holding on the daily. 132 could be nicely to short from if it gets there.

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  • #2,455
  • Nov 28, 2010 10:13pm Nov 28, 2010 10:13pm
I like trading GJ because I can often get a full day target (24 pips) in a single trade. It's just a matter of waiting (and more waiting) for the best setup. On GJ it's usually around a round number like 132, 133 etc. Having a broker with a small spread helps me with having a small stop ... you can see in the last post that my GJ spread is 3.0. It typically stays around that even during news ... far better than jumping out to 10.0 or 20.0 when I was trading with oanda
  • #2,456
  • Edited 10:40pm Nov 28, 2010 10:22pm | Edited 10:40pm
I typically trade between 7:00pm and 10:30pm New Zealand time. This puts me around Frankfurt and London open. Depending on the time of year (right now is the worst) I can easily get my daily target during that time.

Right now, London is 9:30 am when I am 10:30pm ... the best for me is during my winter when London 11:30am is my 10:30pm.

If you want to know if I'm trading, check out the clocks on my website ... look at NZ time ... I stop trading around 10:30pm NZ.

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If you are following my trading style, please consider taking trades during Frankfurt open (7am London) up until London Lunch (12 noon London) as I don't have much trading experience outside these times.
  • #2,457
  • Nov 28, 2010 11:24pm Nov 28, 2010 11:24pm
Here's the daily and h4 charts for GU. I will be looking very closely for an entry off the lower trend line. Because this is on a high timeframe, it may not happen today but I will be watching it just in case.

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  • #2,458
  • Nov 28, 2010 11:32pm Nov 28, 2010 11:32pm
Never be in a hurry ... wait for the best entry.

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  • #2,459
  • Nov 28, 2010 11:40pm Nov 28, 2010 11:40pm
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  • #2,460
  • Nov 28, 2010 11:52pm Nov 28, 2010 11:52pm
Now ... you can never guarantee that this will happen, but if price does get to this level and setup for an entry I will take it. I don't see anything else on this chart that I would take (yet).

Reasons:
SR line
Fib level (I like 50% and 61.8%)
H1 SMA60
Mid Round number 131.50 (not as good as full round number)

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