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Trading For Those With a 9-5 Job

  • #521
  • Mar 2, 2011 12:01pm Mar 2, 2011 12:01pm
Guy I have never seen such a bull/bear battle in the dollar index. 7700 is turning out to be a super pivot, if there is something like that. Whichever way this index goes it will travel far and consistently for a while. Vigilance and patience is the name of the game...
If you think you can or cannot do it you are correct
  • #522
  • Mar 2, 2011 12:28pm Mar 2, 2011 12:28pm
Quoting Olu
As commented this move has started. I am not in it but will try and get in sharppish on any retracement

watch for daily close below the 200 day ema that was acting as support, could be a good entry for short soon
Attached Image (click to enlarge)
Click to Enlarge Name: nzd usd daily.jpg Size: 81 KB
  • #523
  • Mar 2, 2011 4:50pm Mar 2, 2011 4:50pm
Quoting PeterE
not finding many quality set-ups with my approach at present, but will post when i do

perhaps Golfer can show the way, fill in the gaps


Thanks Pete.

But I stay away from gaps.





good hunt'in,



golferfx
  • #524
  • Edited 4:56pm Mar 2, 2011 4:55pm | Edited 4:56pm
Quoting jimbo86
watch for daily close below the 200 day ema that was acting as support, could be a good entry for short soon
Check out the weekly nzdusd chart with the 13/34 sma on it. Even though the 13 hasnt closed through the 34 we have a prospect of a weekly 123 down close soon. This if activated has a target of about 700pips! I could do with that. But patience is required.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd-weekly-02032011-2246uk.jpg Size: 89 KB
If you think you can or cannot do it you are correct
  • #525
  • Mar 2, 2011 4:56pm Mar 2, 2011 4:56pm
Quoting Olu
Guy I have never seen such a bull/bear battle in the dollar index. 7700 is turning out to be a super pivot, if there is something like that. Whichever way this index goes it will travel far and consistently for a while. Vigilance and patience is the name of the game...




If she drops to seek 72...or breaks 72...get yours guns and food stuffs.



golfer
  • #526
  • Mar 2, 2011 5:18pm Mar 2, 2011 5:18pm
Quoting Olu
Check out the weekly nzdusd chart with the 13/34 sma on it. Even though the 13 hasnt closed through the 34 we have a prospect of a weekly 123 down close soon. This if activated has a target of about 700pips! I could do with that. But patience is required.
this seems like a good set up.
would you mind tell me what time frame you choose to entry?
More than a hobby. Never a game. US Client at 1:50.
  • #527
  • Mar 2, 2011 5:38pm Mar 2, 2011 5:38pm
that's a shame

but i'm sure some here wouldnt mind joining you on your next safari,
you can have the first shot of course


Quoting golferfx
Thanks Pete.

But I stay away from gaps.

good hunt'in,

golferfx
  • #528
  • Mar 2, 2011 5:56pm Mar 2, 2011 5:56pm
when i first started trading it was soooo exciting, i saw action and opportunities everywhere

it has taken a long time to realise that (with my strategy at least) most of my time is spent analysing/searching not trading

you already know this of course, just agreeing/sharing re patience

the flip-side is being in the right place at the right time, ready to shift gears quickly when set-ups start happening, often in clusters,............there's an art to it


Quoting Olu
But patience is required.
  • #529
  • Mar 2, 2011 6:55pm Mar 2, 2011 6:55pm
Quoting Chi
this seems like a good set up.
would you mind tell me what time frame you choose to entry?
Thanks for coming to the thread and contributing to it. I dont know whether you read the early pages of this thread. It id dedicated to longer term trades that suit people that work and cannot monitor the market. So timeframes on this thread tend to be 4h or much higher e.g weekly or monthly....

The nzd chart is a weekly one but entry would most likely be with the 4hr or daily chart. It might even be a stop trade with a large stop.

Which trades are you looking at at the moment?
If you think you can or cannot do it you are correct
  • #530
  • Mar 2, 2011 7:29pm Mar 2, 2011 7:29pm
Quoting Olu
Thanks for coming to the thread and contributing to it. I dont know whether you read the early pages of this thread. It id dedicated to longer term trades that suit people that work and cannot monitor the market. So timeframes on this thread tend to be 4h or much higher e.g weekly or monthly....

The nzd chart is a weekly one but entry would most likely be with the 4hr or daily chart. It might even be a stop trade with a large stop.

Which trades are you looking at at the moment?
I have read your earlier posts on the chat time length in the beginning, but i think i have missed on the part I asked you. sorry.

I have a day job from 9-6, and have NEVER traded on 4h or daily charts. i mostly trade on 15m and 1h chart. I can't let myself wait for days to enter for one trade... it works for some people, but it kills my head just to think about it... =D

I am interested in your system and will keep my eyes here to see if it's something will work out for me as well. after all, the difficulty of trading while having a day job is fairly high... and i open my eyes for any possibilities out there =)

I like EURUSD and AUDUSD; sometimes i catch some pips after back home from work, and most the pips are from the morning after 5 PST.

I will be looking at NZUS just for curiosity. it's a good set up, thanks for bring it up.
More than a hobby. Never a game. US Client at 1:50.
  • #531
  • Mar 2, 2011 7:36pm Mar 2, 2011 7:36pm
Quoting Chi
I have read your earlier posts on the chat time length in the beginning, but i think i have missed on the part I asked you. sorry.

I have a day job from 9-6, and have NEVER traded on 4h or daily charts. i mostly trade on 15m and 1h chart. I can't let myself wait for days to enter for one trade... it works for some people, but it kills my head just to think about it... =D

I am interested in your system and will keep my eyes here to see if it's something will work out for me as well. after all, the difficulty of trading while having a day job is...
The patient bird gets the worm. I am a work in progress converting to higher timeframes. I used to trade on the hourly etc but never really made any money. Trading higher timeframes allows me to think trades through and set it up properly and follow it with less stress. The systems discussed on this thread are very easy and are adaptable to different timeframes. So it is not a bad thread to participate in.
If you think you can or cannot do it you are correct
  • #532
  • Mar 2, 2011 7:57pm Mar 2, 2011 7:57pm
Quoting Chi
I have read your earlier posts on the chat time length in the beginning, but i think i have missed on the part I asked you. sorry.

I have a day job from 9-6, and have NEVER traded on 4h or daily charts. i mostly trade on 15m and 1h chart. I can't let myself wait for days to enter for one trade... it works for some people, but it kills my head just to think about it... =D

I am interested in your system and will keep my eyes here to see if it's something will work out for me as well. after all, the difficulty of trading while having a day job...
i always thought the EARLY birds get the worms. You mean the forex bird? =D

what do you think about this weekly USDCHF chart? last week just broke the all time low. I wander what would be you experty advice on this one.
Attached Image (click to enlarge)
Click to Enlarge Name: 3-2-2011 5-54-37 PM.png Size: 18 KB
More than a hobby. Never a game. US Client at 1:50.
  • #533
  • Mar 2, 2011 8:53pm Mar 2, 2011 8:53pm
Quoting Chi
i always thought the EARLY birds get the worms. You mean the forex bird? =D

what do you think about this weekly USDCHF chart? last week just broke the all time low. I wander what would be you experty advice on this one.
I am trying to practice patience in my trading and so the word is cropping up everywhere.

I am bearish the usdchf but finding a good entry short is an issue for me know. Huge data out too tomorrow as well so I wont be touching it
If you think you can or cannot do it you are correct
  • #534
  • Mar 2, 2011 9:11pm Mar 2, 2011 9:11pm
Quoting Olu
long @1.6074...
closed @1.6075 (+1pip) Do not be fooled by the +1pip profit. The swap was 4pips! leading to a real loss of 3pips. Very erratic movement in this pair. It is a big data day tomorrow so I might not be placing any trades

Would like to short a retracement in the nzdusd though. Will still be on the thread in and out so please let's keep our discussion going
If you think you can or cannot do it you are correct
  • #535
  • Mar 3, 2011 6:49am Mar 3, 2011 6:49am
have hit entry order to short 1 lot at 200 day ema (0.7455), hoping it will hold. stop above yesterdays high.
keeping target open for now, would like to add on break of 200 day sma if it does
  • #536
  • Mar 3, 2011 7:08am Mar 3, 2011 7:08am
Quoting jimbo86
have hit entry order to short 1 lot at 200 day ema (0.7455), hoping it will hold. stop above yesterdays high.
keeping target open for now, would like to add on break of 200 day sma if it does
i have been looking for somewhere to sell this retracement. I am short from 7460

Downtrend line
overbought stoch
general downtrend

Normally I would not be trading today but as I was discussing with PeterE. We should experiment with smaller lots as the fundamentals should still prevail

And the fundamentals for nzd are not good
Attached Image
If you think you can or cannot do it you are correct
  • #537
  • Mar 3, 2011 8:34am Mar 3, 2011 8:34am
Quoting Olu
i have been looking for somewhere to sell this retracement. I am short from 7460

Downtrend line
overbought stoch
general downtrend

Normally I would not be trading today but as I was discussing with PeterE. We should experiment with smaller lots as the fundamentals should still prevail

And the fundamentals for nzd are not good
@7430 (+30pips)

Looking to sell from higher as long as we dont violate the downtrend line

PeterE the experiment worked this time
If you think you can or cannot do it you are correct
  • #538
  • Mar 3, 2011 1:40pm Mar 3, 2011 1:40pm
Olu, slow week for me. And NFP today is likely to skew my techs.

But the slow week has given cause to investigate ways to extract a few more opportunities from the MLs, which is good.

See you next week, Peter.
  • #539
  • Mar 3, 2011 6:47pm Mar 3, 2011 6:47pm
Quoting PeterE
Olu, slow week for me. And NFP today is likely to skew my techs.

But the slow week has given cause to investigate ways to extract a few more opportunities from the MLs, which is good.

See you next week, Peter.
Even I didn't do much this week except on monday.
Today there were some good intra-day setups today but was busy at work.
  • #540
  • Mar 3, 2011 7:52pm Mar 3, 2011 7:52pm
Made 30pips on the nzdusd but just closed a trade where I donated 22pips to the gbpjpy pair. So with all the effort put in I might as well not traded at all
If you think you can or cannot do it you are correct
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