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Better-than-the-wormhole 555 replies

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The WoRmHoLe

  • #10,381
  • Mar 31, 2011 3:11pm Mar 31, 2011 3:11pm
took trade at 16064 exit at 16040 because ineed zzz'dd's. Dont trust it overnight.... not with my level of rr./mm. Goodnight all.
All systems of divination, like music itself,work through patterns.
  • #10,382
  • Mar 31, 2011 3:22pm Mar 31, 2011 3:22pm
Quoting chazzle
update of my EUH4 chart from this morning check out the TL rejection ... looks set for a big drop
I like your chart, mostly because of what it says

we had supply entering the market at that levels, we're holding on this for now...


Personally, I'm still working on taking profit, because all my calls have been goon except the exits could have been better.
Not sure if I should go TP twice SL or exit on same entry criteria.

You guys using fixed tp?
"Hate the sin, love the sinner." - Gandhi
  • #10,383
  • Mar 31, 2011 3:27pm Mar 31, 2011 3:27pm
Quoting chazzle
I'm short from 16070 stop about 16160 atm - see how it plays out
Looking to take some off at the neckline ... but only to reload around 16050 ...
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  • #10,384
  • Mar 31, 2011 3:27pm Mar 31, 2011 3:27pm
Chazzle you have 7Vs now
"Hate the sin, love the sinner." - Gandhi
  • #10,385
  • Mar 31, 2011 3:44pm Mar 31, 2011 3:44pm
Quoting TheGabriel

Personally, I'm still working on taking profit, because all my calls have been goon except the exits could have been better.
Not sure if I should go TP twice SL or exit on same entry criteria.

You guys using fixed tp?
I am in the same boat , Gabe - the way I see it is that there is nothing wrong with closing a trade before your intended TP , but only if the market dictates it - I think there comes a time when you analyse your own behaviour and you know when you are closing early out of fear as opposed to closing early due to market behaviour - I have seen this in myself - doing good analysis then taking profit at just a few green pips when I get over excited (emotion)

Even to just see this occuring in myself has helped me to improve on this , though. I have gone from being to hold just 10 or so to 20 , 30 ,50

To align yourself with the market you trade should be the goal , when I looked at the size of Price swings on cable for example on a daily basis using H1 charts and then looked at Azim's trading , I saw that he was more closely aligned to that market than anyone else I'd seen posting on FF - nothing mystical about it , he was/is targetting the types of moves the pair frequently makes , quite simple really ... a great inspiration
  • #10,386
  • Mar 31, 2011 3:45pm Mar 31, 2011 3:45pm
Quoting TheGabriel
Chazzle you have 7Vs now
thanks for that - much appreciated
  • #10,387
  • Mar 31, 2011 3:50pm Mar 31, 2011 3:50pm
That's smart and makes sense, Azim is wise. That's why I'm trying to let the market dictate my exit, makes much more sense, thanks for the input.

My trading and analysis are very mechanical, not much emotion involved.
But greediness, taking as much as I can, still gets me thinking about TPs.
"Hate the sin, love the sinner." - Gandhi
  • #10,388
  • Mar 31, 2011 3:56pm Mar 31, 2011 3:56pm
Quoting TheGabriel
I like your chart, mostly because of what it says

we had supply entering the market at that levels, we're holding on this for now...


Personally, I'm still working on taking profit, because all my calls have been goon except the exits could have been better.
Not sure if I should go TP twice SL or exit on same entry criteria.

You guys using fixed tp?

I only use fixed TP on set and go positions...which are rare for me.

I set my SL according to previous price action ... candle formation ,S/'R...etc.
.
If i cant afford the SL as i percieve it... i dont trade it.

Wormie taught me to do this last year when i was starting out.
All systems of divination, like music itself,work through patterns.
  • #10,389
  • Mar 31, 2011 3:59pm Mar 31, 2011 3:59pm
Quoting kaspopsicle

I only use fixed TP on set and go positions...which are rare for me.

I set my SL according to previous price action ... candle formation ,S/'R...etc.
.
If i cant afford the SL as i percieve it... i dont trade it.

Wormie taught me to do this last year when i was starting out.
Great share kas
"Hate the sin, love the sinner." - Gandhi
  • #10,390
  • Mar 31, 2011 4:02pm Mar 31, 2011 4:02pm
I've just taken profit on GBPU for +40p wich is more than my stop was, I move the stop anyway as market moves.

I did it because I'm seeing lack of selling pressure and volume is drying up, we are at the neckline chaz mentioned

Chaz, I'm taking profit too mate, different analysis same TP it seems.
Volume gave me an up signal, there could be some demand later.
"Hate the sin, love the sinner." - Gandhi
  • #10,391
  • Mar 31, 2011 4:04pm Mar 31, 2011 4:04pm
Quoting TheGabriel
Great share kas
Thanks mate, its good to be here.
got to listen some music and zz'ds now.
See you all tomorrow.
All systems of divination, like music itself,work through patterns.
  • #10,392
  • Mar 31, 2011 4:05pm Mar 31, 2011 4:05pm
Quoting chazzle
Looking to take some off at the neckline ...
here's an example of what I was saying - I'm taking half the position off 10 pips early (16030) so taking 40 instead of 50 - don't feel so bad about it - to get that at this time of day is a bonus anyway , and heck , let's face it , I don't really know what the market will do next with absolute certainty still looking to reload it
  • #10,393
  • Mar 31, 2011 4:09pm Mar 31, 2011 4:09pm
Quoting chazzle
here's an example of what I was saying - I'm taking half the position off 10 pips early (16030) so taking 40 instead of 50 - don't feel so bad about it - to get that at this time of day is a bonus anyway , and heck , let's face it , I don't really know what the market will do next with absolute certainty still looking to reload it
Me too, waiting for to sell again once I see new supply
"Hate the sin, love the sinner." - Gandhi
  • #10,394
  • Mar 31, 2011 4:41pm Mar 31, 2011 4:41pm
Quoting TheGabriel
Me too, waiting for to sell again once I see new supply
If we stay quiet till midnight (BST) and close , say at this level - this would give me a new DP about 16055 (H+L+C/3) , EMA21 would be coming into this area too at the same time (looking for dynamic S/R here) ... this is my idea for a reload (so far)
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  • #10,395
  • Mar 31, 2011 5:24pm Mar 31, 2011 5:24pm
Quoting chazzle
If we stay quiet till midnight (BST) and close , say at this level - this would give me a new DP about 16055 (H+L+C/3) , EMA21 would be coming into this area too at the same time (looking for dynamic S/R here) ... this is my idea for a reload (so far)
I expected some demand after i took profit and we have it now. This last M30 bar will be significant as volume is rising.

I will reload if I see supply coming in with volume confirmation, let me know when you reload so I can check my charts and see if we're in the same boat.
"Hate the sin, love the sinner." - Gandhi
  • #10,396
  • Edited 6:02pm Mar 31, 2011 5:47pm | Edited 6:02pm
Opened long UCHF at 0.91872. Only position running.
Edit: Long GJ at 133.694. Demand on upbar H1, looks good for now.
"Hate the sin, love the sinner." - Gandhi
  • #10,397
  • Edited 6:23pm Mar 31, 2011 6:09pm | Edited 6:23pm
Quoting TheGabriel
Opened long UCHF at 0.91872. Only position running.
Edit: Long GJ at 133.694. Demand on upbar H1, looks good for now.
Nice posts. Volume trading is something that I know nothing about, so it's cool to see other styles of trading

Edit: Except that I went short GJ the same spot you went long lol
Cap
  • #10,398
  • Mar 31, 2011 6:42pm Mar 31, 2011 6:42pm
I think 16025 will hold for now , the DP will be tested at 16067 then a rejection down toward 15985 area and if that goes , a challenge of MAR28 low 15940 area
I'm long 16029 SL 16014 TP 16060 with pending short @ 16060 SL 16090 TP 15990 ...
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  • #10,399
  • Mar 31, 2011 6:51pm Mar 31, 2011 6:51pm
Quoting chazzle
I think 16025 will hold for now , the DP will be tested at 16067 then a rejection down toward 15985 area and if that goes , a challenge of MAR28 low 15940 area
I'm long 16029 SL 16014 TP 16060 with pending short @ 16060 SL 16090 TP 15990 ...
Careful with a long from here! Those are some nasty 4 hour candles, and a mean daily close as well.

Out of GJ for +10 and now flat, Short Cable from 6035 - just closed half, really can't get behind a long right now.

I'm out of here, best of luck guys.
Cap
  • #10,400
  • Mar 31, 2011 6:59pm Mar 31, 2011 6:59pm
Quoting The Captain
Nice posts. Volume trading is something that I know nothing about, so it's cool to see other styles of trading

Edit: Except that I went short GJ the same spot you went long lol
Volume is different and hard to digest at first, I mean you don't want to believe markets can go down on bullish news right?

It's great to have many styles of trading so we can verify each other, I personally wouldn't give up on a strategy that works for me to trade on volume or anything else, because it works for me looking for better strategies can be confusing, it's better to stick with a thing and master it.

Edit: closed my usdchf for just +7 pips, we have some supply now.
"Hate the sin, love the sinner." - Gandhi
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