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Trading For Those With a 9-5 Job

  • #181
  • Feb 10, 2011 7:58am Feb 10, 2011 7:58am
I have uploaded the monthly chart of the Dollar Index for a long term perspective. Also to start to get accustomed to longer term position trading charts

We appear to have bounced off the lower trend line in a triangle.
This triangle is contracting and angled upwards.
The next target for price - assuming it doesn't misbehave is the upper trend line around 87. It is not likely to be in a day though as this is a monthly chart.

We are being given the opportunity to get in earlier now so that tour stops can be small and managable. How would this chart look at the end of march, or April?

If this plays out correctly then expect a eurusd collapse and a period of us$ strength. If we break out beyond the top trend line then something political or financial has happened imho

Olu
Attached Image
If you think you can or cannot do it you are correct
  • #182
  • Feb 10, 2011 8:25am Feb 10, 2011 8:25am
Olu,

Good entry on AUDUSD but I'm still waiting on that, may be today.
I did go short on [email protected] (currently -10) and regarding others:

EURCHF: lot 3 BE (+140)
EURJPY: lot 2&3 BE (+60)
USDJPY: lot 2&3 BE (+60)

Pending
NJDUSD [email protected]
  • #183
  • Feb 10, 2011 9:49am Feb 10, 2011 9:49am
Quoting deepleo
Olu,

Good entry on AUDUSD but I'm still waiting on that, may be today.
I did go short on [email protected] (currently -10) and regarding others:

EURCHF: lot 3 BE (+140)
EURJPY: lot 2&3 BE (+60)
USDJPY: lot 2&3 BE (+60)

Pending
NJDUSD [email protected]
I have been looking at the nzdusd as well. In fact I have my signal to sell short now. But I decided to stick to my trading rules and trade only after the candle has closed
If you think you can or cannot do it you are correct
  • #184
  • Feb 10, 2011 11:06am Feb 10, 2011 11:06am
Quoting Olu
We live to fight another day. Yes you are right the gbpchf is really very choppy. However I have had very good experiences with this pair in times past

I went short the audusd last night @1.0080 60pips stop looking for parity and below
[email protected] (+40pips)

I would try and resell from higher
If you think you can or cannot do it you are correct
  • #185
  • Feb 10, 2011 1:06pm Feb 10, 2011 1:06pm
Nice thread! I too work the 9 to 5... Well, technically 7 to 3:30, but the markets are pretty much dead by then anyways, so lets just say 9 to 5. I primarily trade eur/usd and use MACD to place most of my trades, which can run on for some time. Sometimes I'll scalp the daily chart if I see an obvious situation, like the doji on 01/03/11 for example.

Anyways, hope you continue having success! Nice to see someone else who isn't trading the 5-15 minute frame... I'll bookmark this page for sure!
  • #186
  • Feb 10, 2011 2:04pm Feb 10, 2011 2:04pm
Quoting deepleo
Olu,

Good entry on AUDUSD but I'm still waiting on that, may be today.
I did go short on [email protected] (currently -10) and regarding others:

EURCHF: lot 3 BE (+190)
EURJPY: lot 2&3 BE (+90)
USDJPY: lot 3 BE (+89)

Pending
NJDUSD [email protected]
TP on USDJPY lot 2 (+100)
  • #187
  • Feb 10, 2011 3:36pm Feb 10, 2011 3:36pm
Quoting Nate04
Nice thread! I too work the 9 to 5... Well, technically 7 to 3:30, but the markets are pretty much dead by then anyways, so lets just say 9 to 5. I primarily trade eur/usd and use MACD to place most of my trades, which can run on for some time. Sometimes I'll scalp the daily chart if I see an obvious situation, like the doji on 01/03/11 for example.

Anyways, hope you continue having success! Nice to see someone else who isn't trading the 5-15 minute frame... I'll bookmark this page for sure!
Welcome Nate04 to this thread. Please feel free to contribute anytime

Sometimes trading this timeframe is a blessing. I am too impulsive and trading the 5 min chart will do serious damage to my account. On the long run we will come out tops compared to the scalpers
If you think you can or cannot do it you are correct
  • #188
  • Feb 10, 2011 3:37pm Feb 10, 2011 3:37pm
Quoting deepleo
TP on USDJPY lot 2 (+100)
Great trade.
If you think you can or cannot do it you are correct
  • #189
  • Feb 10, 2011 5:43pm Feb 10, 2011 5:43pm
I know this pair is not commonly traded in the west but this helps me to put my thoughts to paper and view the validity of my calls

dountrend line break
stoch has turned up
bullish divergence on the daily

So this is bullish

Bearish/wait and see arguments is mainly the fact that price is below the 100sma
Attached Image
If you think you can or cannot do it you are correct
  • #190
  • Feb 10, 2011 5:55pm Feb 10, 2011 5:55pm
please find uploaded a daily chart of the audcad.

We have a trend line break
we have stoch turn on the daily chart
A structure similar to the Head and Shoulder top
Perhaps the right shoulder has been defined
a first target could 9700
Attached Image (click to enlarge)
Click to Enlarge Name: audcad-daily-10022011-2340uk.jpg Size: 96 KB
If you think you can or cannot do it you are correct
  • #191
  • Feb 10, 2011 6:49pm Feb 10, 2011 6:49pm
Olu,

Thx and I have a pending short on [email protected] and a long on [email protected].
  • #192
  • Feb 10, 2011 7:21pm Feb 10, 2011 7:21pm
short @0.9960...

Reasons discussed in an earlier post
If you think you can or cannot do it you are correct
  • #193
  • Feb 10, 2011 7:32pm Feb 10, 2011 7:32pm
Quoting deepleo
Olu,

Thx and I have a pending short on [email protected] and a long on [email protected].
I agree 100% with the eurgbp trade. I dont think the gbpusd trade will be hit though or will be hit and make a reversal. There is an impression that the dollar is going up as discussed somewhere above imho. But we need to follow our systems and milk the statistical advantage it gives us.

I would like to sell the gbpusd below 1.6000

and the eurusd below 1.3570

almost bedtime. See what happens in the morning.
If you think you can or cannot do it you are correct
  • #194
  • Feb 10, 2011 7:41pm Feb 10, 2011 7:41pm
Olu,

It seems EUR is getting weaker, so I closed

EURCHF lot 3[+165]
EURJPY lot 2&3[+80]
  • #195
  • Feb 10, 2011 7:51pm Feb 10, 2011 7:51pm
I would like to sell the gbpusd below 1.6000

and the eurusd below 1.3570


Olu,

I will cancel the GU pending short if the price closes below weekly pivot[1.6074] and I will go short below 1.6014.

My EU short is now +40 and NU +30 both yet to BE
  • #196
  • Feb 10, 2011 7:53pm Feb 10, 2011 7:53pm
Well done.

These trades cannot be faulted. And they were profitable too. Just inspirational
If you think you can or cannot do it you are correct
  • #197
  • Feb 10, 2011 7:59pm Feb 10, 2011 7:59pm
Quoting Olu
Well done.

These trades cannot be faulted. And they were profitable too. Just inspirational
Olu,

I'm thankful to you for allowing me to share and learn from your point of view.
  • #198
  • Edited 8:09pm Feb 10, 2011 8:08pm | Edited 8:09pm
We learn from each other. I have a good friend (dare I say -mentor) who lurks in this thread. His name is GolferFx. I have learnt a lot from him since his first contribution to this thread.

Your point of view has been great too - and the profitable trades that result from them. This markets wants to chew everyone up and spit them out but with all of learning all the time from you, from heliodz, from golferfx we will end up chewing the market and spitting it out instead

Bedtime for me...
If you think you can or cannot do it you are correct
  • #199
  • Feb 10, 2011 9:03pm Feb 10, 2011 9:03pm
Olu, that a very good job trading for those with a 9-5 job, but you need more of the algo trading strategies, so that you can keep doing it right and perfectly to bank profit at good return on investment percentage. well am just new but i think my contribution here will do alot of good to trader how respect EMA,s and used a combination of them to trade all time frame.
  • #200
  • Feb 11, 2011 2:04am Feb 11, 2011 2:04am
Quoting J.Inalex
Olu, that a very good job trading for those with a 9-5 job, but you need more of the algo trading strategies, so that you can keep doing it right and perfectly to bank profit at good return on investment percentage. well am just new but i think my contribution here will do alot of good to trader how respect EMA,s and used a combination of them to trade all time frame.
Thanks Inalex for your contribution to the thread. Your contribution is welcome. Bring it on. Also what is 'Algo'?

Olu
If you think you can or cannot do it you are correct
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