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Trading with Deadly Accuracy

  • #1,141
  • Jan 11, 2011 8:33am Jan 11, 2011 8:33am
Quoting wmd
Hey Tolu! I can see you hiding here! Where are your charts?
lol ...... sup Will
u must have seen this i bliv, but here goes my nu short ......
and in a fresh acad long....ill update later
other than these 2, im stalking a couple others
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Simplicity is the key to success
  • #1,142
  • Jan 11, 2011 8:48am Jan 11, 2011 8:48am
Swissy calling for attention:
http://img515.imageshack.us/img515/6...1usdchfh41.png
  • #1,143
  • Jan 11, 2011 8:53am Jan 11, 2011 8:53am
Quoting Sdvsa
Swissy calling for attention:
http://img515.imageshack.us/img515/6...1usdchfh41.png
good spot, let us know if you take a position, and what do you watch for to take a position confidently?
  • #1,144
  • Jan 11, 2011 9:19am Jan 11, 2011 9:19am
Quoting deankenny21
good spot, let us know if you take a position, and what do you watch for to take a position confidently?
Risk:Reward ratio (esp. when entering during congestion), engulfing patterns, 123 formations, VSA.

When I think about it, no need to try catching. In good setups, there should always be time for entry (at minor retests etc.).

When you are tempted to catch (and are burned by it), put limit entry at place where you'd place a stop.
  • #1,145
  • Jan 11, 2011 9:21am Jan 11, 2011 9:21am
Quoting Sdvsa
Risk:Reward ratio (esp. when entering during congestion), engulfing patterns, 123 formations, VSA.

When I think about it, no need to try catching. In good setups, there should always be time for entry (at minor retests etc.).
see all that just confused me, i looked at a STOCHASTICS and RSI started pointing down and STOCH crossed towards downside so i entered short now im -18pips . HMMM i dont think ill never know what to look for
  • #1,146
  • Jan 11, 2011 9:25am Jan 11, 2011 9:25am
yep -34 pips now, OUCH!!
  • #1,147
  • Jan 11, 2011 9:35am Jan 11, 2011 9:35am
hot zone eurochf
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bull in a china shop
  • #1,148
  • Jan 11, 2011 9:39am Jan 11, 2011 9:39am
Quoting wmd
Sam is aware of history, but not hung up on it; so Sam doesnt trade history.

Sam lives in the here and now, not in the what's been, so Sam trades momentum and gives precedence to the current wave, not the last.

quick reminder from Da Boss. easy to get hurt looking at history. we need look for levels in the current wave. some time the historical gives way and makes trouble. but inside wave seems more reliable.
bull in a china shop
  • #1,149
  • Edited 9:55am Jan 11, 2011 9:41am | Edited 9:55am
Quoting plasmapants
hot zone eurochf
Yes,
it is always good to look for market confluences.
EURCH however seems stronger on this level than Swissy, so Swissy should be leading indicator IMHO.

"Strength of system is determined by its weakest part."
  • #1,150
  • Jan 11, 2011 9:43am Jan 11, 2011 9:43am
Quoting deankenny21
yep -34 pips now, OUCH!!
Think of stop-losses around such areas regardless of directions one has taken. It's too tempting to clean both corners for them before next move, wouldn't you think?
  • #1,151
  • Jan 11, 2011 9:47am Jan 11, 2011 9:47am
Quoting Sdvsa
Think of stop-losses around such areas regardless of directions one has taken. It's too tempting to clean both corners for them before next move, wouldn't you think?
Im still trying to get the hang of it
  • #1,152
  • Jan 11, 2011 9:52am Jan 11, 2011 9:52am
Quoting deankenny21
Im still trying to get the hang of it
More clever form of gambling would be to place limit entry at the upper level of Supply zone: market just went for it (think of stops there).
http://img96.imageshack.us/img96/870...1usdchfh42.png
  • #1,153
  • Jan 11, 2011 9:56am Jan 11, 2011 9:56am
Quoting Sdvsa
More clever form of gambling would be to place limit entry at the upper level of Supply zone: market just went for it (think of stops there).
http://img96.imageshack.us/img96/870...1usdchfh42.png
I see, you got 3lines there, what are they representing i know its former support, is that basically it, 3 instances of former support which has been "UNTESTED" as resistence until now?
  • #1,154
  • Jan 11, 2011 10:01am Jan 11, 2011 10:01am
Quoting deankenny21
I see, you got 3lines there, what are they representing i know its former support, is that basically it, 3 instances of former support which has been "UNTESTED" as resistence until now?
Yes,
lowest line is already tested resistance level.

Region established by upper two lines serves to identify Supply zone.
  • #1,155
  • Jan 11, 2011 10:04am Jan 11, 2011 10:04am
Quoting Sdvsa
Yes,
lowest line is already tested resistance level.

Region established by upper two lines serves to identify Supply zone.
ok slowly learning here, so i understand the bottom line is now tested and deemed un-usable in my eyes anyway,

the 2nd line is a support, and the 3rd line i confused how you come to draw that line?
  • #1,156
  • Jan 11, 2011 10:13am Jan 11, 2011 10:13am
your aud trade kicking! nice one.
bull in a china shop
  • #1,157
  • Jan 11, 2011 10:14am Jan 11, 2011 10:14am
Quoting deankenny21
ok slowly learning here, so i understand the bottom line is now tested and deemed un-usable in my eyes anyway,

the 2nd line is a support, and the 3rd line i confused how you come to draw that line?
Think of highlighted area as a zone where absorption of the demand (buying) should occur. Should we identify strong enough such area, momentum might be stopped and reversed.
http://img718.imageshack.us/img718/2...usdchfh42a.png
  • #1,158
  • Jan 11, 2011 10:17am Jan 11, 2011 10:17am
Quoting Sdvsa
Think of highlighted area as a zone where absorption of the demand (buying) should occur. Should we identify strong enough such area, momentum might be stopped and reversed.
http://img718.imageshack.us/img718/2...usdchfh42a.png
ok now i get what the highlightes area means, and i see how u got the bottom part of the area, but where did you get that top part of the area from?
  • #1,159
  • Jan 11, 2011 10:19am Jan 11, 2011 10:19am
123 formation occured, it might now develop into classical H&S.
http://img831.imageshack.us/img831/7...11usdchfm5.png
  • #1,160
  • Jan 11, 2011 10:26am Jan 11, 2011 10:26am
i am +24 pips now on this one
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