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  • #3,081
  • Jan 12, 2011 2:49pm Jan 12, 2011 2:49pm
Quoting ale73a
welcome back LJ!
Thanks
  • #3,082
  • Jan 12, 2011 8:24pm Jan 12, 2011 8:24pm
Quoting lovejoy80
I'd forgotten about that list, that seems like a lieftime ago! Focussing on major daily PPZ's is the ebst way to go IMO, it's pretty much what I do day in day out. Everyone is different but I've never been 'tempted' to trade, I've had plenty of other psychological difficulties over the years but luckily that has not been one of them.
I was "tempted" by weekly and monthly high/low/close + great PA. I use the GMT+3 to +4 (1hour) opening range as well. It works wonders. Have added these things to my level based trading.

I've actually found that it works pretty well, esp when there's confluence with other things.

My primary stuff is based off daily PPZ as well. It IS the best way to go, although it is extremely labour intensive (but fun!).

I presume you mainly trade london/US sessions LJ?
One Mind, Any Market
  • #3,083
  • Jan 13, 2011 1:21am Jan 13, 2011 1:21am
I was wondering if you ever post your trades as soon as you enter them. You seem to do very well but I see the results after you hav closed the trades.
  • #3,084
  • Jan 13, 2011 4:00am Jan 13, 2011 4:00am
Quoting Cyrus
I was "tempted" by weekly and monthly high/low/close + great PA. I use the GMT+3 to +4 (1hour) opening range as well. It works wonders. Have added these things to my level based trading.

I've actually found that it works pretty well, esp when there's confluence with other things.

My primary stuff is based off daily PPZ as well. It IS the best way to go, although it is extremely labour intensive (but fun!).

I presume you mainly trade london/US sessions LJ?
Yes I line in UK so tradeEuropean and NY morning sessions. NY afternoon and Asian sessions are usually really quiet in any case
  • #3,085
  • Jan 13, 2011 4:02am Jan 13, 2011 4:02am
Quoting mck6206
I was wondering if you ever post your trades as soon as you enter them. You seem to do very well but I see the results after you hav closed the trades.
No I dont usually, this is a journal so I post my daily trades normally at the end of each day with a summary etc
  • #3,086
  • Edited 3:06pm Jan 13, 2011 2:01pm | Edited 3:06pm
trades for today:

1. EU - took a specualtive short at a confluenced area...didnt take long to get stopped out...EUR far too strong and USD far too weak at the moment...dont thnik it will last personally.

-1R

2. EURAD - closed a long from yesterday. Entry @ 1.3153 SL @ 1.3075 exit @ 1.3359 +2.64R

3. YM, Oil and gold touch trades in play...will leave these to see if we get a sell-off tomorrow, not fussed about closing for small pips looking for a mini-sell off..so either decent pips or a BE result.
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  • #3,087
  • Jan 14, 2011 1:35am Jan 14, 2011 1:35am
Hi LJ

Could you explain what was your reasoning behind those touch trades?
  • #3,088
  • Jan 14, 2011 2:06am Jan 14, 2011 2:06am
LJ,

What timeframes do you trade? I've seen everything from 4h down to 5min.

As in, do you have a main timeframe you stick to?
One Mind, Any Market
  • #3,089
  • Jan 14, 2011 2:22am Jan 14, 2011 2:22am
hey LJ,
see u r sweeping them pips , good for u friend....
i know u follow oil, ymh, gold etc so thought ill post something
here's oil short on 4h & 8h ...... nice beob to ride down
ignore the sell order above, was anticipating a little breach (wanted to enter at the very top, lol)
in some other trades, ill try n post later
cheers
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Simplicity is the key to success
  • #3,090
  • Jan 14, 2011 2:30am Jan 14, 2011 2:30am
Quoting squeezy
hey LJ,
see u r sweeping them pips , good for u friend....
i know u follow oil, ymh, gold etc so thought ill post something
here's oil short on 4h & 8h ...... nice beob to ride down
ignore the sell order above, was anticipating a little breach (wanted to enter at the very top, lol)
in some other trades, ill try n post later
cheers
Hi squuezy, nice trades...I've got similar positions on oil too

What do you use to convert your chart to 8H TF?

Back later, pretty busy watching cadchf and gold right now.
Attached Image (click to enlarge)
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  • #3,091
  • Jan 14, 2011 2:53am Jan 14, 2011 2:53am
Quoting lovejoy80
Hi squuezy, nice trades...I've got similar positions on oil too

What do you use to convert your chart to 8H TF?

Back later, pretty busy watching cadchf and gold right now.
wow! price is flying on the trades im in ..... kool
i use period converter from FF here, if u dnt find it .... ill check my archives later, just let me know
also about to enter gold short, dont trade cadchf but checked....saw my entry way up there already .... lol
Simplicity is the key to success
  • #3,092
  • Jan 14, 2011 3:26am Jan 14, 2011 3:26am
Quoting Cyrus
LJ,

What timeframes do you trade? I've seen everything from 4h down to 5min.

As in, do you have a main timeframe you stick to?
Main TF's to look for setups are 1H and 4H. I focus a lot on the Daily and Weekly timeframe to spot great locations to look for trades and then scroll down the TF's to look for actual setups...this can be down to 5min in some cases but most of the time it will be 1H or 4H.
  • #3,093
  • Jan 14, 2011 3:45am Jan 14, 2011 3:45am
Quoting squeezy
wow! price is flying on the trades im in ..... kool
i use period converter from FF here, if u dnt find it .... ill check my archives later, just let me know
also about to enter gold short, dont trade cadchf but checked....saw my entry way up there already .... lol
Okay thnks I'll search for it, think I've used it before.

I'm in gold short from yesterday and have a pending order for another position too.
  • #3,094
  • Jan 14, 2011 12:32pm Jan 14, 2011 12:32pm
Trades all closed for the day and week.

1. Oil - took a touch trade near the double top and another position based on break of 4HR support - though as squuezy pointed out it was also a 8HR BEOB. Took profit at PPZ...price didnt look like it had the momentum for a sustained move down, in fact it's been surprisingly dull all afternoon.

Entry @ 92.13, [email protected] exit @ 90.30
Entry @ 90.70, [email protected] exit @ 90.30

Total +3.8R

2. YM - entry at douuble top, moved to BE last night and stop was duly hit.

3. EU - Price was at a daily PPZ area and with YM at resistance and USDX at support it looked like everything was lininig up for some decent strong USD strength, but after it neve came qucily I decided to clsoe my trade for a +0.11R result

4. CADCHF - trade based on daily BEOB. I was going to jsut move my SL to BE when the FTA was hit but after it started bouncinf I decided to just take profit...it's not a pair I watch so with these tpye of pairs I prefer to keep things simple and just take some profit, I see trades on these pairs as just easy simple pips etc.

Entry 0.9714 [email protected] exit @ 0.9688

+0.14R

5. Gold - gold has been looking bearish recently and a breakout, pullback to PPZ andTL confluence was enough for me to take an entry. I also took an entry (not shown on chart) at a break of the faily BEOB. The initial target was 1364 PPZ with an ultimate target of the 1350 area...I thought about whether to leave gold and just see what happens but got impatient and decided to take profit.

Entry @ 1381.30, SL@1398, [email protected]
Enrty @ 1369 SL@1394 exit @1365.30

Total +0.82R

I missed this great setup on EG...thjey don't get easier than this and that would have been my trade of the week.

Took profit on my EURJPY and EURAUD trades this week, but the EUR move caught me by surprise...I really wouldnt be surprised to see EUR weaken again next week and the downtrends to continue.

Total for today +4.87R
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  • #3,095
  • Jan 14, 2011 12:35pm Jan 14, 2011 12:35pm
Total for the week:

15 trades, 13 winners +12.94R
  • #3,096
  • Jan 14, 2011 12:37pm Jan 14, 2011 12:37pm
Quoting Greenhaze
Hi LJ

Could you explain what was your reasoning behind those touch trades?
They were just double tops (gold is explained in previous post)...they were not the best technical setups more specualtive but from lots and lots of chart watching I was pretty confident price would react at these areas and drop down a bit.
  • #3,097
  • Jan 14, 2011 2:17pm Jan 14, 2011 2:17pm
Man, I have always loved your charts and your trading thread LoveJoy80.

Thank you so much. Are you trading full time for a living? You certainly seem to have a great grasp of the markets, though I know it takes a long time and a lot of money to go full time.

Oh, I am kicking my own ass for missing the EURGBP trade as well. How did I miss that???!!?? LOL
  • #3,098
  • Jan 14, 2011 4:25pm Jan 14, 2011 4:25pm
Quoting unlv_tj
Man, I have always loved your charts and your trading thread LoveJoy80.

Thank you so much. Are you trading full time for a living? You certainly seem to have a great grasp of the markets, though I know it takes a long time and a lot of money to go full time.

Oh, I am kicking my own ass for missing the EURGBP trade as well. How did I miss that???!!?? LOL
I think I need to get another monitor, EG is not no my main profile , if it was (on another monitor) I would probably had seen it coming...but yeah that was an easy setup with great risk/reward...but that's the beauty with the forex market, the next great setup is only round the corner.

My only source of income at the moment is directly from trading yes. It defintely takes a long time and the amount of money depends on how much you need to live, savings and how much pressure you want to put on yourself. Ideally you'd have a few years living costs set aside and a decent size trading account...but where's the fun in that lol.
  • #3,099
  • Jan 14, 2011 4:36pm Jan 14, 2011 4:36pm
Quoting lovejoy80
I think I need to get another monitor, EG is not no my main profile , if it was (on another monitor) I would probably had seen it coming...but yeah that was an easy setup with great risk/reward...but that's the beauty with the forex market, the next great setup is only round the corner.

My only source of income at the moment is directly from trading yes. It defintely takes a long time and the amount of money depends on how much you need to live, savings and how much pressure you want to put on yourself. Ideally you'd have a few years living costs...
LOL. I personally have enough saved up, but I don't have the skills or confidence in myself yet. And that is fine, all in due time. I just love to hear guys made it on their own. I am getting close to turning 33. I don't like my job, I don't like having to work weekends to save money in case I lose my full time job. I hate where I live (both the city, and the house in particular). I still cannot afford to date (while many start at 16 or 17). But there is only one out. Money, trading, money. So I will keep working hard towards my goals. Feels great to hear of others being successful at it.

I greatly enjoy your charts and your insight, you have definetly put in a lot of time and work.
  • #3,100
  • Jan 15, 2011 5:00pm Jan 15, 2011 5:00pm
Quoting lovejoy80
... It defintely takes a long time and the amount of money depends on how much you need to live, savings and how much pressure you want to put on yourself. Ideally you'd have a few years living costs set aside and a decent size trading account...but where's the fun in that lol.
hahahah..are u referring to me?
no job, no savings, no decent sized account --the most challenging trading situation for sure
i bet very few traders have gone/are going through this type of situation

(Warning: the situation mentioned in this post is NOT worthy of emulation)



btw, advance happy birthday TJ!
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