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  • #380,801
  • Feb 7, 2011 4:05am Feb 7, 2011 4:05am
Trade what you see, Not what you think.
  • #380,802
  • Feb 7, 2011 4:06am Feb 7, 2011 4:06am
Quoting PhAnTi'
send me data via pm.


Sent via PM, see you there..
  • #380,803
  • Feb 7, 2011 4:07am Feb 7, 2011 4:07am
Quoting dejv
I just wanted to admit that this entry was good from that point of view.

however entering the market only becasue of good rr ratio is quite insufficent reason for me..
Ill take it back then
  • #380,804
  • Feb 7, 2011 4:11am Feb 7, 2011 4:11am
Quoting Larseg
Ahh... risk/reward... Do us a favor and accept that that is a myth and it have to be dynamic. There, saved you some months in the world of forex...
Strongly disagree Larseg. If you don't know your max risk and potential reward before entering you are doom in this business (like in any other business). How can you define and know you statistical edge if you don't know this in a long series of trades (i know mine and for me knowing this is beyond common sense). Not taking this in consideration in your trading plan is on the gambling side of trading (not even Poker players discard this factor when gambling).

Sure you can adjust your stops or exit early given specific conditions (TA or FA) but in all cases those adjustments should and are never, to worse conditions that you original plan but denying this factor by default IMO does not only show lack of a professional approach to trading but it also opens the door to the vicious circle of jumping from system to system in look for the Holy Grail.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #380,805
  • Feb 7, 2011 4:14am Feb 7, 2011 4:14am
Quoting sisse
The charts are not that clear at the moment but the plan is very clear.
Well I think your right. This is an important area, so a good move is coming one way or the other. I am closer to a buy than a sell, simply because we are trading above my 3552/87 support zone, but we are in the shadow of the NFP bar which makes me a little more cautious, either way I'm sidelined for now. Good luck, talk later PTL...
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Click to Enlarge Name: chart 1.gif Size: 23 KB
Look Sharp/Trade Tight
  • #380,806
  • Feb 7, 2011 4:15am Feb 7, 2011 4:15am
Quoting PayTheLimit
Well I think your right. This is an important area, so a good move is coming one way or the other. I am closer to a buy than a sell, simply because we are trading above my 3552/87 support zone, but we are in the shadow of the NFP bar which makes me a little more cautious, either way I'm sidelined for now. Good luck, talk later PTL...
like the reason...

Quote
I am closer to a buy than a sell, simply because we are trading above my 3552/87 support zone

Hero calls followed by margin calls...
  • #380,807
  • Feb 7, 2011 4:15am Feb 7, 2011 4:15am
Quoting PayTheLimit
Well I think your right. This is an important area, so a good move is coming one way or the other. I am closer to a buy than a sell, simply because we are trading above my 3552/87 support zone, but we are in the shadow of the NFP bar which makes me a little more cautious, either way I'm sidelined for now. Good luck, talk later PTL...
Sure. i forgot to mention that I am more bias to the long side so agree.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #380,808
  • Feb 7, 2011 4:17am Feb 7, 2011 4:17am
hmm here we goo...
Trade what you see, Not what you think.
  • #380,809
  • Feb 7, 2011 4:19am Feb 7, 2011 4:19am
Potential short setting up.
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  • #380,810
  • Feb 7, 2011 4:23am Feb 7, 2011 4:23am
Quoting PayTheLimit
I am closer to a buy than a sell, simply because we are trading above my 3552/87 support zone.
That is pretty much where my thoughts are as well. I'll wait to see if it drops to around 40'sh or so then I might be inclined to go Long. The week is just starting...I'm in n o hurry to pull the trigger but for now I like the price.
  • #380,811
  • Feb 7, 2011 4:24am Feb 7, 2011 4:24am
hey PhanTi noticed your favourite stuff i.e. gold?
looks like it will going to be a nice break for a few pips

Quoting PhAnTi'
like the reason...



  • #380,812
  • Feb 7, 2011 4:25am Feb 7, 2011 4:25am
Quoting Astroman
The week is just starting...
agreed....
Look Sharp/Trade Tight
  • #380,813
  • Feb 7, 2011 4:26am Feb 7, 2011 4:26am
Quoting PayTheLimit
agreed....
how about buying the daily pivot?

dont guess we will break 3545-3550....

well anyway, market doesnt ask for my opinion
Hero calls followed by margin calls...
  • #380,814
  • Feb 7, 2011 4:29am Feb 7, 2011 4:29am
Hourly chart. Still could go either way
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  • #380,815
  • Feb 7, 2011 4:29am Feb 7, 2011 4:29am
BUGGER!!!
happened while i was typing lol
i am in an out of it already

Quoting hkkhanus
hey PhanTi noticed your favourite stuff i.e. gold?
looks like it will going to be a nice break for a few pips
  • #380,816
  • Feb 7, 2011 4:30am Feb 7, 2011 4:30am
Quoting PhAnTi'
how about buying the daily pivot?

dont guess we will break 3545-3550....

well anyway, market doesnt ask for my opinion
I'm estimating about 70% probability we go below Friday's low.
"To hold, you must first open your hand. Let go." - Lao Tzu
  • #380,817
  • Feb 7, 2011 4:32am Feb 7, 2011 4:32am
scaled in 3567.
Hero calls followed by margin calls...
  • #380,818
  • Feb 7, 2011 4:34am Feb 7, 2011 4:34am
Quoting vox dei
I'm estimating about 70% probability we go below Friday's low.
plz provide ur statement.
Hero calls followed by margin calls...
  • #380,819
  • Feb 7, 2011 4:35am Feb 7, 2011 4:35am
Quoting PhAnTi'
how about buying the daily pivot?

dont guess we will break 3545-3550....

well anyway, market doesnt ask for my opinion
If this turns out a false break i wonder if we reach this area..

Daily move still not determed...

Range is still 56pips 40-50 to go..
  • #380,820
  • Feb 7, 2011 4:36am Feb 7, 2011 4:36am
ote=sisse;4377086]Strongly disagree Larseg. If you don't know your max risk and potential reward before entering you are doom in this business (like in any other business). How can you define and know you statistical edge if you don't know this in a long series of trades (i know mine and for me knowing this is beyond common sense). Not taking this in consideration in your trading plan is on the gambling side of trading (not even Poker players discard this factor when gambling).

Sure you can adjust your stops or exit early given specific conditions (TA or FA) but in all cases those adjustments should and are never, to worse conditions that you original plan but denying this factor by default IMO does not only show lack of a professional approach to trading but it also opens the door to the vicious circle of jumping from system to system in look for the Holy Grail.

I agree sisse ,
The way i look at it define your maximum loss ,but i will allow the reward to be infinite if price action allows .
Pretty good risk reward .
Pity we are in a range of 1.4000 /1.2000 area though.
Considering an extremely small leg on daily is 500 pips anything around 50 pips is acceptable with an initial small entry .
Look at charts on daily we just had 1000pip leg 2 small retraces.
Even in undecided december the range legs were 500 pips.Imagine if they get some real sentiment going.1000pips would be average lol.
it can go 50 pips against with small entry .
It can go as far as it want on a full position with me riding and whipping its ass .
I look at it 50 pips on say a 1/3 of position size is like losing like 16 pips.
but 50 pips on full position is 3:1 risk reward same pips.

sisse[/quote]
making green pips large and red pips small this is my goal.
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