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Trading VSA the way NSK does

  • #381
  • Apr 26, 2011 1:59am Apr 26, 2011 1:59am
Quoting brax64
Pretty nice Karthik we get in at the same time...!
i guess the market has answered u already !! but i think i will hold on till it gets below 6450...
  • #382
  • Apr 26, 2011 2:00am Apr 26, 2011 2:00am
Quoting courtneywild
A great weekend thank you... Sounds like you are busy, but we look forward to more relaxing posts please ...!
of course, good to know that it is relaxing for everyone around....not just me...:-)...
  • #383
  • Apr 26, 2011 2:01am Apr 26, 2011 2:01am
stopped out gu at 6462 +3pips; close eu at 4563 +30
not bad for the first half hour!
brax64
  • #384
  • Apr 26, 2011 2:08am Apr 26, 2011 2:08am
Charts as is...

GU stopped out +22
EU looks like it will hit my profit stop.
Attached Image (click to enlarge)
Click to Enlarge Name: example 15B.jpg Size: 153 KB
  • #385
  • Apr 26, 2011 2:11am Apr 26, 2011 2:11am
Very good job on gu Courtney, I got only 3 but better safe than sorry!


Quoting courtneywild
Charts as is...

GU stopped out +22
EU looks like it will hit my profit stop.
brax64
  • #386
  • Apr 26, 2011 2:16am Apr 26, 2011 2:16am
got out of gu long at 6481 for 20 pips....still holding eu long and gu long from yesterday...and also long term eurgbp short from yesterday...
  • #387
  • Apr 26, 2011 2:18am Apr 26, 2011 2:18am
May I ask you at which price you get in on eugbp?

Quoting ns_karthik
got out of gu long at 6481 for 20 pips....still holding eu long and gu long from yesterday...and also long term eurgbp short from yesterday...
brax64
  • #388
  • Apr 26, 2011 2:29am Apr 26, 2011 2:29am
Quoting brax64
May I ask you at which price you get in on eugbp?
short at 8826....
  • #389
  • Apr 26, 2011 2:32am Apr 26, 2011 2:32am
Quoting brax64
Very good job on gu Courtney, I got only 3 but better safe than sorry!
Thanks Brax.

Now got to work out a better take profit. I have had a number of trades go to +35 +40 and let the close out at stop loss of +20 so I could take more profit.
Also when to cut short and get out. A number of trades have initialy gone - 10.

So need to clarify my proft and stop plan.

Any suggestions on TP/SL welcome and perhaps NSK has some gems to share on this.
  • #390
  • Apr 26, 2011 2:33am Apr 26, 2011 2:33am
glad that i held on to my EU long....+42 and still running...
  • #391
  • Apr 26, 2011 2:36am Apr 26, 2011 2:36am
Quoting courtneywild
Thanks Brax.

Now got to work out a better take profit. I have had a number of trades go to +35 +40 and let the close out at stop loss of +20 so I could take more profit.
Also when to cut short and get out. A number of trades have initialy gone - 10.

So need to clarify my proft and stop plan.

Any suggestions on TP/SL welcome and perhaps NSK has some gems to share on this.

A point in fact on this is that both trades this morning closed out for +23 +22 after moving stop up, however they are again racing ahead.

Am i moving my SL up too soon and not giving the trades enough breathing space. (fear of loss!).
The EUR is currently +60 on my entry price
And the GU is currently +40.
Or is this greed!!!
  • #392
  • Apr 26, 2011 2:38am Apr 26, 2011 2:38am
Quoting courtneywild
Thanks Brax.

Now got to work out a better take profit. I have had a number of trades go to +35 +40 and let the close out at stop loss of +20 so I could take more profit.
Also when to cut short and get out. A number of trades have initialy gone - 10.

So need to clarify my proft and stop plan.

Any suggestions on TP/SL welcome and perhaps NSK has some gems to share on this.
yes i do have a few thoughts on this but lemme finish my lunch first...being in a home office has it problems..:-)...if i dont take lunch when it is served, i dont get it at all...:-)...be back in a few...
  • #393
  • Apr 26, 2011 2:38am Apr 26, 2011 2:38am
Well done Khartik, the teacher have to beat the students...

Me too I'll have to refine SL and TP....
brax64
  • #394
  • Apr 26, 2011 2:44am Apr 26, 2011 2:44am
Karthik, looking at the 4H chart eurgbp, to me, seems a little early to get short; I would like to see a break of the triangle before...
May you be so kind to show the resaon for this trade or I'm asking too much?
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.jpg Size: 110 KB
brax64
  • #395
  • Apr 26, 2011 3:01am Apr 26, 2011 3:01am
exited eu at 4602 for +64...and yesterdays gu long at 6510 for +5....i didnt like PA on eurgbp and hence exited with -15...
  • #396
  • Apr 26, 2011 3:02am Apr 26, 2011 3:02am
Quoting brax64
Karthik, looking at the 4H chart eurgbp, to me, seems a little early to get short; I would like to see a break of the triangle before...
May you be so kind to show the resaon for this trade or I'm asking too much?
ahem, i have 6-7 strategies for various TFs and this trade was taken with one of those...dont want to dilute this thread with another strategy and also, as a selfish trader, i dont want to reveal all my strategies....:-).....
  • #397
  • Apr 26, 2011 3:04am Apr 26, 2011 3:04am
More then understandable! Please accept my apologies !!!!!!

Quoting ns_karthik
ahem, i have 6-7 strategies for various TFs and this trade was taken with one of those...dont want to dilute this thread with another strategy and also, as a selfish trader, i dont want to reveal all my strategies....:-).....
brax64
  • #398
  • Apr 26, 2011 3:06am Apr 26, 2011 3:06am
Quoting brax64
More then understandable! Please accept my apologies !!!!!!
apologies???!! oh come on....this is a happy and free forum mate...u have the right to ask anything and i have the right to refuse anything...

yeah, i am selfish...yeah, i like seeing pics of gals....i am just a normal person like anyone else....it doesnt affect anyone else...so i guess theres nothing wrong...

so, no more formalities pls...keep asking...i will answer those that i can and will refuse those that i cant....
  • #399
  • Apr 26, 2011 3:10am Apr 26, 2011 3:10am
got the message... I like your style
brax64
  • #400
  • Apr 26, 2011 3:30am Apr 26, 2011 3:30am
Quoting courtneywild
A point in fact on this is that both trades this morning closed out for +23 +22 after moving stop up, however they are again racing ahead.

Am i moving my SL up too soon and not giving the trades enough breathing space. (fear of loss!).
The EUR is currently +60 on my entry price
And the GU is currently +40.
Or is this greed!!!
its all in the mind....first of all, we need to see whether we are a day trader or someone who takes trades for 2-3 days or more...if we consider ourselves as a day trader, then we should think like a day trader...

for a day trader, 60 pips is a fantastic day...30-40 pips is a very good day......so i just place trades and if it goes my way, i exit at 30 pips....i dont try and squeeze everything out of the market...i just want the main part of a move, not the top or the bottom...so if i get 30 pips from a trade, thats good for me...2 such trades a day makes it 60 pips.....that makes 1200 pips a mnth...

well if u can make 500 pips a mnth consistently, u r a fantastic trader....so forget abt making 1200 pips cos u r going to have losses....so the point here is, be happy if u get 20-25 pips from a trader as a day trader...yes, the trade might well go for 70-80 pips but it might well have gone -30 pips as well....so, train ur mind....set ur targets...if u have got what u want, forget about having missed pips...start thinking abt the next setup or just go out and relax...

if u r adamant that u want to squeeze out more from a trade, then remember, any move will always retrace...whether it is on M5 or M15 or 4H or 1D...so even intra day, price will retrace...so if price zooms 40 pips, then expect it to come down by 20-30 pips before it starts to move up again.....in such cases, switch to M5, look at the support area and move ur SL to just below that area...if its just a retrace, support will hold and will continue the move up... if its a reversal, ur SL will be hit and u either end up at BE or even a loss....so, in this case, u r risking ur profits to get more profits...is that advisable? i dunno cos i dont have stats on how many such trades led to more profits rather than hitting SL...

from my personal view, i usually just take 30-35 pips from a trade and just close it....and i just dont worry abt where it goes next....

very few times, when i am convinced of the upmove (like today), i move my SL just below the nearest support region on M5 and just take the risk of losing all the potential profits...thats just a personal choice...
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