Islander and Medici trade the European open | Page 155 | Forex Factory

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Islander and Medici trade the European open

  • #3,081
  • Mar 9, 2011 12:39am Mar 9, 2011 12:39am
"When we have a breakout during Tokyo, the Frankfurt boys ussually try to push back into range"

My my my .... You are Good!

Is this what you mean, master?

Attached Image (click to enlarge)
Click to Enlarge Name: NiceguyTradesFrankfrurt-WithMedici_00.jpg Size: 163 KB


Your student here need an advice. There's always a room in my head to learn.


NG

PS: Just closed out that trades on chart with fast 15 pips.
  • #3,082
  • Mar 9, 2011 12:44am Mar 9, 2011 12:44am
Quoting NiceGuy
"When we have a breakout during Tokyo, the Frankfurt boys ussually try to push back into range"


Is this what you mean, master?

PS: Just closed out that trades on chart with fast 15 pips.
Yep, that's it. Well done
  • #3,083
  • Mar 9, 2011 1:28am Mar 9, 2011 1:28am
Well, my thread is getting full with people who bark to each other. Asking this and that... you know those stuff... Oh...well.. Maybe that's just the price I have to pay for starting something ridiculous.

I like it here. It's Quiet and peacefull. Just the way I like it. Hope you dont mind if I am staying a bit longer...

Will keep an eye on Frankfurt tomorrow. Test it with small account until I get the hang of it . Combine this one with my ridiculous way of trading, I already collected a full 30 pips for today. Nice start....

Thanks for sharing


NG
  • #3,084
  • Mar 9, 2011 2:24am Mar 9, 2011 2:24am
Quoting NiceGuy
Well, my thread is getting full with people who bark to each other. Asking this and that... you know those stuff... Oh...well.. Maybe that's just the price I have to pay for starting something ridiculous.

I like it here. It's Quiet and peacefull. Just the way I like it. Hope you dont mind if I am staying a bit longer...

Will keep an eye on Frankfurt tomorrow. Test it with small account until I get the hang of it . Combine this one with my ridiculous way of trading, I already collected a full 30 pips for today. Nice start....

Thanks...
It amazes me how people behave when they are getting served a prepared meal...first thing they do is complain about the food

One experience from running this thread was that few are willing to do their own research, and much of what we shared - for example the pattern you picked up for 15 pips at 6.05 - wasn't taken up by many.

Later I had the poor judgement of posting an indicator that caused quite some stir - much more interesting apparently.

Happy to have you here and comment on what we posted once upon a time. I am sure you will find some embarrassing things too...and we may learn something together.

For now, here's this morning's short from 1.3904 - triple top against trendline...good old pattern
Attached Image (click to enlarge)
Click to Enlarge Name: euro short 9 march.PNG Size: 33 KB
  • #3,085
  • Edited 4:11am Mar 9, 2011 3:54am | Edited 4:11am
Well... well ...welll
Same I got here. I trade this way too you know, but can not post this kind of trades in my thread.... Will screw many people heads there...

Attached Image (click to enlarge)
Click to Enlarge Name: NiceguyTradesFrankfrurt-WithMedici_01.jpg Size: 76 KB


Will do more research on this.


NG

PS: Oh no... I think I should take those indi's off... I dont need them here...
  • #3,086
  • Mar 9, 2011 4:32am Mar 9, 2011 4:32am
Quoting NiceGuy
Well... well ...welll
Same I got here. I trade this way too you know, but can not post this kind of trades in my thread.... Will screw many people heads there...

Attachment

Will do more research on this.


NG

PS: Oh no... I think I should take those indi's off... I dont need them here...
WTG - we just find a divergence indy helpful.....this was my take earlier in EV's thread....my exit was based on the green 3861 level....
Attached Image (click to enlarge)
Click to Enlarge Name: mar 9 eu 5m 0949 cet.gif Size: 16 KB
Trading Levels with WRBs
  • #3,087
  • Mar 11, 2011 2:08am Mar 11, 2011 2:08am
Hi Medici,
Could not resist not to post this one...

You said:

"When we have a breakout during Tokyo, the Frankfurt boys usually will try to push Price back into range". Well not exactly like this, but I think this is your point.

We definitly had a breakout on tokyo today, so I decided to enter this trade based on your brilliant observation. I simply trade the probability for this pattern to repeat itself. My SL was exactly at that Daily Pivot, about 5 pips or so..

Look what I nailed....

Attached Image (click to enlarge)
Click to Enlarge Name: NiceguyTradesFrankfrurt-WithMedici_02.jpg Size: 51 KB


32 fresh green pips..... The frankfurt boys pushed back the price to where it started. Like exactly what you said.

Dont worry, I am doing this with a pocket change size live account. I decided to take some break from trading serious money routine for a while and try to loose some pressure of it a little bit. Just to bring back some of those good old times in the past...

I hope this pleases you master....


NG
  • #3,088
  • Mar 11, 2011 2:16am Mar 11, 2011 2:16am
Quoting NiceGuy
Hi Medici,
Could not resist not to post this one...

You said:

"When we have a breakout during Tokyo, the Frankfurt boys usually will try to push Price back into range". Well not exactly like this, but I think this is your point.

We definitly had a breakout on tokyo today, so I decided to enter this trade based on your brilliant observation. I simply trade the probability for this pattern to repeat itself. My SL was exactly at that Daily Pivot, about 5 pips or so..

Look what I nailed....

Attachment

32 fresh...
Well done!

Yes, this is the typical morning pattern when there has been a swing early Asia with consolidation afterwards. Back down again, and then up. M15 divergence gave a clue, then M5 and M1 to time entry at break above DO line.
Attached Image (click to enlarge)
Click to Enlarge Name: euro 11 march.PNG Size: 49 KB
  • #3,089
  • Mar 11, 2011 2:46am Mar 11, 2011 2:46am
Well, I am not exactly new in trading european market open this way. But your observation definitly "something" that add my confidence to do this more in the future.

Yes, yes I saw that divergence too. But I was writing the last post so I missed it. Are you doing this with a pending order or simply just by clickin the trigger? Please advise me master...

What is the usual SL you use for this kind of price action and reaction trading? Any suggestion? I always use 7 pips btw and Always open for ideas to cut it less.

Many thanks


NG
  • #3,090
  • Mar 11, 2011 2:58am Mar 11, 2011 2:58am
Quoting NiceGuy
Well, I am not exactly new in trading european market open this way. But your observation definitly "something" that add my confidence to do this more in the future.

Yes, yes I saw that divergence too. But I was writing the last post so I missed it. Are you doing this with a pending order or simply just by clickin the trigger? Please advise me master...

What is the usual SL you use for this kind of price action and reaction trading? Any suggestion? I always use 7 pips btw and Always open for ideas to cut it less.

Many thanks


NG...
No deference needed...

Hard SL is 20 pips, but then I usually cut the trade if it goes 7-8 pips against me (or less). With tighter hard SL I get cautious about getting stopped out, so it works against its purpose by keeping me out of good trades.

And it's all market orders by the principle of "listen and follow".
  • #3,091
  • Mar 11, 2011 3:07am Mar 11, 2011 3:07am
Quoting medici
No deference needed...

Hard SL is 20 pips, but then I usually cut the trade if it goes 7-8 pips against me (or less). With tighter hard SL I get cautious about getting stopped out, so it works against its purpose by keeping me out of good trades.

And it's all market orders by the principle of "listen and follow".
Yes, I know what you mean. I usually use 15 Hard SL on high volatility times on Europe - London open but same as you I always cut it short when I detect something is wrong.

Thanks for the input.


NG
  • #3,092
  • Mar 17, 2011 6:02am Mar 17, 2011 6:02am
I am posting this here because this thread is a gathering of very experienced traders.

I know it is a bit off-topic because it is not forex. But it is the european open.

Anyway, I would like to hear some comments on this from you power-traders (medici? NiceGuy? Islander? ...)

Currently the stock markets are extremely volatile because of the Japan crisis.
I have found EUR/USD to be quite a bit boring (low volatility) the last days.
So I have started to scalp the DAX in a paper-trading account.
I managed to make about +1.000 EUR of profits (trading a single contract) each day in a row for three days now. My worst drawdown was -400 EUR intraday.

Here is a commented chart of what I did this morning.
It just took 1 hour. I am plannnig to do this with my real account.

What do you think? Is this a good Idea to do this on a regular basis?
Are you trading the DAX too?
Any comments/suggestions on my trades?

Attached you find a chart of what I did.
Attached Image (click to enlarge)
Click to Enlarge Name: paper-chart-dax-2011-03-17_10-27.jpg Size: 261 KB
  • #3,093
  • Mar 18, 2011 2:34am Mar 18, 2011 2:34am
T3 moving av indicator... I had it and lost it..Would u know were i could find it..Please.. on your thred..
  • #3,094
  • Mar 18, 2011 12:25pm Mar 18, 2011 12:25pm
Quoting TraderJF
I am posting this here because this thread is a gathering of very experienced traders.

I know it is a bit off-topic because it is not forex. But it is the european open.

Anyway, I would like to hear some comments on this from you power-traders (medici? NiceGuy? Islander? ...)

Currently the stock markets are extremely volatile because of the Japan crisis.
I have found EUR/USD to be quite a bit boring (low volatility) the last days.
So I have started to scalp the DAX in a paper-trading account.
I managed to make about +1.000 EUR of...
Thanks for trust and confidence in the judgment of old dogs. A bit off topic as you say, and I don't know if I agree about €/$ being less generous lately. And my normal alternative instrument would be cable, and she's almost always up for play.

But judging by your trades it seems like you deserve your title Precision Scalper Not much to say apart from that, really. Much of your questions are really a matter of personal preference, but I would recommend that you get an account where you can trade the DAX before the open too.
  • #3,095
  • Mar 18, 2011 12:27pm Mar 18, 2011 12:27pm
Quoting danc
T3 moving av indicator... I had it and lost it..Would u know were i could find it..Please.. on your thred..
Not posted here before, but here you are.
Attached File(s)
File Type: mq4 T3 MA.mq4   3 KB | 291 downloads
  • #3,096
  • Mar 19, 2011 4:19am Mar 19, 2011 4:19am
THANK....YOU....
  • #3,097
  • Mar 21, 2011 4:50pm Mar 21, 2011 4:50pm
Quoting medici
Thanks for trust and confidence in the judgment of old dogs. A bit off topic as you say, and I don't know if I agree about €/$ being less generous lately. And my normal alternative instrument would be cable, and she's almost always up for play.
Hello medici,

thank you for your kind answer!

I tried trading EUR/USD and GBP/USD but I found it difficult to wait for a setup which I liked. Sitting in front of the screen all day and waiting for a setup is a bit difficult for me as I am used to switch on my robot and have a look at it every now and then. The DAX currently solves this problem as it starts running exactly from the market open. So I can fire trades immediately and I do not need to wait and get bored.

I have found out that getting bored is dangerous for me because I tend to take doubtful trades then. Obviously, you do not have this problem.

How do you manage to not get bored?
Do you wait in front of your screen all day?


Quoting medici
But judging by your trades it seems like you deserve your title Precision Scalper Not much to say apart from that, really.
Thank you

Quoting medici
Much of your questions are really a matter of personal preference, but I would recommend that you get an account where you can trade the DAX before the open too.
That sounds like a good Idea. I have called my broker and the Deutsche Börse, but both said that this is an auction which cannot be traded upon. The prices shown are for indicative purposes only.

Perhaps there is some CFD broker or similar which allows trading the auction, I will have to investigate that.

Regards,
TraderJF
  • #3,098
  • Mar 22, 2011 5:43am Mar 22, 2011 5:43am
Quoting TraderJF
How do you manage to not get bored?
By continually researching, exploring and learning. So I sit down in front of the screens with a sense of curiosity as to how things will unfold.

Quote
Do you wait in front of your screen all day?

I typically trade the morning session only. And it's not a matter of waiting but rather of actively engaging with what is happening.
  • #3,099
  • Mar 23, 2011 12:47pm Mar 23, 2011 12:47pm
Quoting medici
By continually researching, exploring and learning. So I sit down in front of the screens with a sense of curiosity as to how things will unfold.
I must admit that I find it really difficult to do that. Instead, I tend to flip my position on the slightest sign of a market turn. Usually not a good Idea. I am currently trying to trade manually with my paper trading account - it goes up and down like a yo-yo.

Quoting medici
I typically trade the morning session only. And it's not a matter of waiting but rather of actively engaging with what is happening.
When you refer to "morning session" - do you have a fixed time when you start and stop trading? If so, which hours (in GMT) do you trade?

What do you mean by actively engaging? Do you usually have an open position in the market or is it just that you are trying to figure out a coming setup?
  • #3,100
  • Mar 23, 2011 1:03pm Mar 23, 2011 1:03pm
Quoting TraderJF
When you refer to "morning session" - do you have a fixed time when you start and stop trading? If so, which hours (in GMT) do you trade?
No fixed time. Can be anything between 8.30 am to 11-11.30. Depends on how things look, and if I am happy with the day's harvest.

Quote
What do you mean by actively engaging? Do you usually have an open position in the market or is it just that you are trying to figure out a coming setup?

Reading the signs and trying to understand what is going on. What kind of day is unfolding? Where is supply/demand? And so on? Things can change in an instant.
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