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  • #1,701
  • Mar 21, 2011 8:59am Mar 21, 2011 8:59am
Quoting patient pip
Majority of Euro Zone officials are convinced Portugal will seek a bailout, Dow JOness reports. :-)
US Treasury selling 10 billion MBS securities pr month
  • #1,702
  • Mar 21, 2011 9:03am Mar 21, 2011 9:03am
Div, can you have a look to my post #1691 ?

ty
  • #1,703
  • Mar 21, 2011 9:06am Mar 21, 2011 9:06am
Hi Div,

Great thread you started here, simple and effect technique for trading price action. I think the biggest thing here is knowing when to shift your bias from trading longs or trading shorts.

looking at the EUR/USD 5min today there was a time in the am session where the swing low was taking out therefore one would be looking for shorts..( which failed since a new high was made a while ago)

so i wat i wanna know is when do u consider a "swing point" to be taken out to change your bias on which direction to trade.
  • #1,704
  • Mar 21, 2011 9:11am Mar 21, 2011 9:11am
i will answer both questions here b4 and t2 i posted a chart this morning please look at it do you see where resistence was broken and it became support? read thread and pdf's that were made etc to come in at the middle of a thread and not read it isnt going to help you 1 bit there are no short cuts to learning
  • #1,705
  • Edited 9:55am Mar 21, 2011 9:21am | Edited 9:55am
Hey Div,

Do you use a calculator to arrive at a position size representating 3% of your equity (based on r:r) or do you calculate it manually?

Thanks,
Jon
  • #1,706
  • Mar 21, 2011 9:27am Mar 21, 2011 9:27am
jmf yes i have a excel calculator where i put in acct size pct per trade and pip price based on 1 standard lot i have it tell me lot size from 9 to 26 pips also guys i dont know if i mentioned this lets say we have an entry at 4160 and we get in when price on chart hits 4161 so with spread (mines 1 pip) entry is 4162 and say stop is 4155 well thats only a 7 pip stop what i do is lower stop to 4153 to make min stop and target 9 pips you got to give trade a little room to go
  • #1,707
  • Mar 21, 2011 9:28am Mar 21, 2011 9:28am
Div, will you take a trade if the swing low is greater than the 26 pips you say is your limit for a SL and TP. For example the current opportunity on the Eur$ has a +30 pip swing low for a SL, and was too rich for my blood, so i passed. Would you have taken that trade?
  • #1,708
  • Mar 21, 2011 9:28am Mar 21, 2011 9:28am
Quoting Divergence
i will answer both questions here b4 and t2 i posted a chart this morning please look at it do you see where resistence was broken and it became support? read thread and pdf's that were made etc to come in at the middle of a thread and not read it isnt going to help you 1 bit there are no short cuts to learning

could you direct me to the posts where the pdfs were posted..thks
  • #1,709
  • Mar 21, 2011 9:28am Mar 21, 2011 9:28am
I took this trade earlier but has to take a call before posting.
Red arrow is entry, white horizontal line is exit @84

9 pips , got out manually, I dont trade from the MT4, but I use it for charting

Great system

Thanks div

Attached Image (click to enlarge)
Click to Enlarge Name: div 44.gif Size: 22 KB
  • #1,710
  • Mar 21, 2011 9:31am Mar 21, 2011 9:31am
Quoting T2Twell
could you direct me to the posts where the pdfs were posted..thks
here you go
http://www.forexfactory.com/showpost.php?p=4478876
  • #1,711
  • Mar 21, 2011 9:32am Mar 21, 2011 9:32am
i will sometimes take a trade if max is 30 but i will still use 26 pips as stop and target thats a bullseye fxwest
  • #1,712
  • Mar 21, 2011 9:33am Mar 21, 2011 9:33am
thanks
  • #1,713
  • Mar 21, 2011 9:35am Mar 21, 2011 9:35am
Quoting james.rudd
Hi Darry,

I'm unable to PM you as I'm a junior member. Could you pleas advise is there any other way that I can get the links for the free video access, like email me the links to the video access. Thanks.

Cheers,
James
++++++++++++++++++++++++++++++++

What is your skype name?
  • #1,714
  • Mar 21, 2011 9:38am Mar 21, 2011 9:38am
Quoting Divergence
hey rc when things come into focus we can take off the glasses because we can see clearly now

Inserted Video



Thank you!!
  • #1,715
  • Mar 21, 2011 9:40am Mar 21, 2011 9:40am
Love it!
  • #1,716
  • Mar 21, 2011 9:49am Mar 21, 2011 9:49am
Quoting Tonie_Fx
I wanted to short from 1.42, nice round level but was too chicken to do it. Kinda regret now
++++++++++++++++++++++++++++++++

Not a flag trade. Likely bounce off resistance, yes.
  • #1,717
  • Mar 21, 2011 9:55am Mar 21, 2011 9:55am
great u tube
  • #1,718
  • Mar 21, 2011 9:59am Mar 21, 2011 9:59am
wow a whopping 64 pip range for today with a myocardial infarction in the middle
  • #1,719
  • Mar 21, 2011 10:01am Mar 21, 2011 10:01am
Quoting specracer
Div, will you take a trade if the swing low is greater than the 26 pips you say is your limit for a SL and TP. For example the current opportunity on the Eur$ has a +30 pip swing low for a SL, and was too rich for my blood, so i passed. Would you have taken that trade?
sry but i don t see the opportunity on the EU. none bar meet the requirement for a trade on my chart..
  • #1,720
  • Mar 21, 2011 10:02am Mar 21, 2011 10:02am
Quoting bcarbon
http://www.youtube.com/watch?v=XtiXiYMS86U


Thank you!!
++++++++++++++++++++++++++++++++

No Trade Here, must remove Rose Tinted Glasses!


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