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  • #61
  • May 31, 2011 7:07am May 31, 2011 7:07am
Quoting diceman555
hi sutts,
in answer to your question regarding bid ask price was answered as i would have,by srmfx...
Thanks william.
  • #62
  • May 31, 2011 7:29am May 31, 2011 7:29am
Hi srmfx,

enjoying the thread and from your entry criteria I use most of them (minus the indicators)

i take my hat off to you if you can scalp and make cash - it really takes good market timing and you seem to have it

i agree with moving with the big money (using big numbers, S/R, ) but one thing you havent mentioned is the dealers.

i think all retail traders must know when a dealer will or wont stop hunt.

Anthony
  • #63
  • May 31, 2011 8:07am May 31, 2011 8:07am
Quoting srmfx
In the last day of the month a lot of orders in both ways are filled and the market is difficult to trade. With my trading style I try to enter at the beginning of the price move with low risk. That is why sometimes my stops are hit for small profit.
Thanks for the explanation. I try to trade in the direction of the M30/H1 flow so haven't joined you on those shorts today.
  • #64
  • May 31, 2011 8:28am May 31, 2011 8:28am
Quoting diceman555
hi sutts,
in answer to your question regarding bid ask price was answered as i would have,by srmfx...
This is not my thread I just started it. I will share my experience but all comments and different opinions are welcome.
The are you mention was my target. This was to 50 EMA at 15m chart.
  • #65
  • May 31, 2011 10:24am May 31, 2011 10:24am
ive been trading short into this 75 level on eu ,scalping into it,is she going to break,
  • #66
  • May 31, 2011 11:20am May 31, 2011 11:20am
that last 1 and a half hours has driven me nuts,so tight within price range,went through 75 and looked liked holding,need a coffee,closed my short at 75 level gained a few pips from my open at 82,ummmmmmmmmm,i would say i held that a little to long!
  • #67
  • May 31, 2011 2:55pm May 31, 2011 2:55pm
Quoting srmfx
With my trading style I try to enter at the beginning of the price move with low risk. That is why sometimes my stops are hit for small profit.
So, you are looking just for few pips on every trade? What is your leverage, probably very high? Are you trading for living or this is just a hobby?
  • #68
  • May 31, 2011 3:18pm May 31, 2011 3:18pm
Quoting cash_machine
So, you are looking just for few pips on every trade? What is your leverage, probably very high? Are you trading for living or this is just a hobby?
i think what srmfx is trying to say here is that he is trying to catch the big money flow moves that can last for days and he is trying to get into those trades around key support/resistance levels. The question is what you do at this levels. You either enter from let say 15min chart and need to allow greater stop level or you scale down to 1 min chart and enter from there with much less stop level. In the first scenario you nay have couple of attempts and if they fail, then you will bail out with significant loss. In the second case you will have many attempts with relative small loss, but as this area is considered to significat support/resistance area, the probability of having the PA getting out of this area quickly is relatively high.
Of course, this is up to the trader to decide how to enter, but i think this is what i understand from the srmfx's explanation.

EKS
  • #69
  • Jun 1, 2011 12:09am Jun 1, 2011 12:09am
Quoting cash_machine
So, you are looking just for few pips on every trade? What is your leverage, probably very high? Are you trading for living or this is just a hobby?
I'm not looking for just a few pips on every trade. My intention is to enter the market at the beginning of the price swing with very small stop. Eks made a good explanation of my trading style. Trading is not just a hobby, it's my job.
  • #70
  • Jun 1, 2011 12:47am Jun 1, 2011 12:47am
Today I'm looking for long position around 1.4400, and 2B for short around 1.4440.
  • #71
  • Jun 1, 2011 1:06am Jun 1, 2011 1:06am
STE from 20 EMA. First part closed for 5.5 pips profit stop moved to -1p.
Attached Image (click to enlarge)
Click to Enlarge Name: ste eur.png Size: 48 KB
  • #72
  • Jun 1, 2011 1:09am Jun 1, 2011 1:09am
Stop was hit. Looking for new entry.
  • #73
  • Jun 1, 2011 1:17am Jun 1, 2011 1:17am
Hi srmfx,

can you explain how you use a stock index to help you choose trades?

thanks

Anthony
  • #74
  • Jun 1, 2011 1:36am Jun 1, 2011 1:36am
Quoting antgal23
Hi srmfx,

can you explain how you use a stock index to help you choose trades?

thanks

Anthony
Hi Anthony,
When EURUSD and the stocks move in tandem I use FTSE for confirmation of entry signals. For example if I want to buy EURUSD the stock index must be up or at support level. If the index and GBP/USD break lower I close the position or move stop.
  • #75
  • Jun 1, 2011 1:47am Jun 1, 2011 1:47am
FX market is awful these days. Bad news from Greece are countered by Asian sovereign buying of Euro.
  • #76
  • Jun 1, 2011 2:05am Jun 1, 2011 2:05am
morning srmfx

can you elaborate more on your reason for calling your looking to buyi at 14400,and sell 14440,hope you wer on the short drop,was your reasons for this because of your anticipated thought that ,that would be the range ,or if you thought 14450 may be being protected,ie possible touch trade,barrier
thanks
william
  • #77
  • Jun 1, 2011 2:25am Jun 1, 2011 2:25am
You are right about the 1.4440. There is a barrier at 1.4450 and it should be protected. My long entry this morning was made with the idea that this barrier should be attacked. I didn't like the PA and missed the sort position.
The other level 1.4400 is round number and the swing low on 15M is 1.4402. I think that someone is trying to move EURUSD up in the last few days despite all the bad news from Greece and I prefer to trade from the long side. The news that IMO will not pay 5th tranche to Greece made the chart a little messy.
  • #78
  • Jun 1, 2011 2:44am Jun 1, 2011 2:44am
so a bullish stock FTSE is a sign that both the euro and cable may go long?
  • #79
  • Jun 1, 2011 3:11am Jun 1, 2011 3:11am
Quoting srmfx
When EURUSD and the stocks move in tandem I use FTSE for confirmation of entry signals.
How do you know in advance whether correlation will hold during current session? I tried to use GBP/USD as confirmation for entries in EUR/USD, but there are days when they move in tandem first and then suddenly they start moving in different directions, and there were no big news on either of them...
  • #80
  • Jun 1, 2011 3:40am Jun 1, 2011 3:40am
Quoting cash_machine
How do you know in advance whether correlation will hold during current session? I tried to use GBP/USD as confirmation for entries in EUR/USD, but there are days when they move in tandem first and then suddenly they start moving in different directions, and there were no big news on either of them...
I don't know in advance if the correlation is valid for the day. You just watch the market and if the currencies move in tandem you can use them for filtering the trades.
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