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Trading Major Lines

  • #201
  • Feb 24, 2011 6:54am Feb 24, 2011 6:54am
Two attempts..one failed with 5 pips and second seems working for now...
I'll update with the charts after I move the second position to b.e (hopefully I can)
  • #202
  • Feb 24, 2011 7:05am Feb 24, 2011 7:05am
long on eu at second bounce from 50 fib,blue is fib on last 4h candle...
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Money is made by sitting, not trading. Jesse L. Livermore
  • #203
  • Feb 24, 2011 7:05am Feb 24, 2011 7:05am
good example for re-entry.
moved to break even..
so nothing market can get me from for this position..
as I said before moving to break even depends on the setup and price movement..
You can see there is a minor support above my entry..that was the main reason I hurried to move it to break even because if price comes back and break that support then there is no reason for me to stay in such hesitant market...
I'll save my money for when it knows what its doing
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  • #204
  • Feb 24, 2011 7:12am Feb 24, 2011 7:12am
Quoting nomask
good example for re-entry.
moved to break even..
so nothing market can get me from for this position..
as I said before moving to break even depends on the setup and price movement..
You can see there is a minor support above my entry..that was the main reason I hurried to move it to break even because if price comes back and break that support then there is no reason for me to stay in such hesitant market...
I'll save my money for when it knows what its doing
wow, i feel better,i had the same idea by first bounce to go long
Money is made by sitting, not trading. Jesse L. Livermore
  • #205
  • Feb 24, 2011 7:14am Feb 24, 2011 7:14am
price now explaining my stop management from the post above...
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  • #206
  • Feb 24, 2011 7:18am Feb 24, 2011 7:18am
Let's watch out, as the news is coming in 15 minutes!
  • #207
  • Feb 24, 2011 7:18am Feb 24, 2011 7:18am
Quoting sam69
wow, i feel better,i had the same idea by first bounce to go long
glad to see we're on the same page...
good work.
  • #208
  • Feb 24, 2011 7:20am Feb 24, 2011 7:20am
Quoting tentoerun
Let's watch out, as the news is coming in 15 minutes!
you are right..this is the only time fundamentals matter for me
I don't care what they mean I care how they're effecting the price..
  • #209
  • Feb 24, 2011 8:38am Feb 24, 2011 8:38am
last attempt for today..
so far today I've had 1 losing trade with -5pips
one break even
and this one has been moved to break even as well.
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  • #210
  • Feb 24, 2011 9:17am Feb 24, 2011 9:17am
third position died at break even...
but you never know when its moving..
4th position moved to break even.I did not know I was going to open 4th position for today.expect the unexpected
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  • #211
  • Feb 24, 2011 1:58pm Feb 24, 2011 1:58pm
Hi Nomask

I will be reading your thread. I like your work what you did previously.
I hope to contribute with value when I can comit a bit of time.

Good luck to this thread!
Kind Regards zol
  • #212
  • Feb 24, 2011 2:08pm Feb 24, 2011 2:08pm
Quoting zoli
Hi Nomask

I will be reading your thread. I like your work what you did previously.
I hope to contribute with value when I can comit a bit of time.

Good luck to this thread!
hi zoli..thanks a lot and you're always welcome
  • #213
  • Feb 24, 2011 3:31pm Feb 24, 2011 3:31pm
Quoting nomask
hi zoli..thanks a lot and you're always welcome
Nomask,

I just finished reading your work here. I find it promising. I can recognise traces from some threads you menioned. I know those as well, although have not been so diligent in posting.

My compliments to you as you seem to be well capable of creating your own style by using what you have learned and shaping it according to your needs. With this you are seting up a good example.
I am with you long on EU at 36104 and had the perfect position of my life at 37157 - just above a good price level. But I was foolish and closed that trade for some 70 pip profit only to withness that price has not yet gone back to it providing the potential for further increase.

Anyways, congratulation once more, you seem like a potent trader.

I hope you will continue with your thread and posts.
Kind Regards zol
  • #214
  • Feb 24, 2011 8:25pm Feb 24, 2011 8:25pm
nice thread nomask

can i ask, did you change your FIbo frequently? let say i assume

4Hr TF - one fibo from high to low (weekly)
in 5 minute? (High Low 4H)
  • #215
  • Feb 25, 2011 1:20am Feb 25, 2011 1:20am
Quoting zoli
Nomask,

I just finished reading your work here. I find it promising. I can recognise traces from some threads you menioned. I know those as well, although have not been so diligent in posting.

My compliments to you as you seem to be well capable of creating your own style by using what you have learned and shaping it according to your needs. With this you are seting up a good example.
I am with you long on EU at 36104 and had the perfect position of my life at 37157 - just above a good price level. But I was foolish and closed that trade...
Thank you zoli for your compliments.
like everybody in this bussiness I've made so many mistakes (still making but not as much as before) until I managed to collect all the methods that suit my personality to put together something at least tradeable.
this is the process of experiment and there is no way to learn without passing by it.
Most of the good traders here will agree with me about that they'd been introduced to price actions and naked trading probably at the very early stage of their trading career but they thought it shouldn't be this easy to trade and then they went to the other way with full of those fancy indicators,moving averages,etc..
just to pay that fee to gain experience
after all their research and experience coming to same conclusion:
Yes indeed trading is easy.
  • #216
  • Feb 25, 2011 1:29am Feb 25, 2011 1:29am
Quoting normeck
nice thread nomask

can i ask, did you change your FIbo frequently? let say i assume

4Hr TF - one fibo from high to low (weekly)
in 5 minute? (High Low 4H)
Hello normeck..thanks a lot.
Not sure what exactly you asked me but hope this is what you meant.
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  • #217
  • Feb 25, 2011 1:35am Feb 25, 2011 1:35am
Hi nomask

To decide the direction on weekly chart, what candle patterns are you using? only Pinbar / Engulfing ? do you also use any continuous candle pattern? the question applies to 4H chart too.

Thanks a lot!
tentoerun
  • #218
  • Feb 25, 2011 1:38am Feb 25, 2011 1:38am
hope this help
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  • #219
  • Feb 25, 2011 1:54am Feb 25, 2011 1:54am
Quoting tentoerun
Hi nomask

To decide the direction on weekly chart, what candle patterns are you using? only Pinbar / Engulfing ? do you also use any continuous candle pattern? the question applies to 4H chart too.

Thanks a lot!
tentoerun
My favorites are pinbar,engulfing(outside they both same to me) bar and three bar reversal pattern less favorites are breakout bars and inside bars.
But the best way to find out what price actions rule market is analyzing the moves around those major lines and trying to see which price actions happened just before price started moving.
same logic should be applied to the all timeframes..
you can see all the price actions I mentioned on the chart below.
I could be missing some of them since I made the chart very quickly without rescanning.
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  • #220
  • Feb 25, 2011 2:00am Feb 25, 2011 2:00am
Quoting normeck
hope this help
I see now. chart attached.
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