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  • #141
  • Jun 9, 2011 2:37am Jun 9, 2011 2:37am
Quoting kevinator
Excellent,

Moving along I am up 25 on eurjpy oversold and now exit.Scanning for more now.

We just missed the mom trade on audusd.See how mtf stoch says long.Price pulled back to ovesold and slingshot to the top.
that's a great bank on E/J Kevin... well done to show it live.. thank you.
  • #142
  • Jun 9, 2011 2:41am Jun 9, 2011 2:41am
it's really interestin system and how your making money with this.most thing i like about this is that your showing this live...but looking at things, i have reallized i dont see your SL and TP when you enter. is there specific SL or TP your looking for? thank you,
  • #143
  • Jun 9, 2011 2:43am Jun 9, 2011 2:43am
Quoting kevinator
We missed three MOM trades here.We have to get to the point that we do not overlook anything.If it moves and its profitable its going in the bank.We have to do better.

See how mtf stoch 1hr trend is in one direction but price pulled back to the opposite TMA band then sling shot to the top or bottom.That is the bread and butter trades that last for hours sometimes and yield between 20 and 150 pips.
this is a nice show of charts and inputs Kevin, thanks..

I went big on that G/U trade and kind of over my comfortable zone margin wise and just could take advantage on one which was the A/U... but now i get it as to spreading it around and scanning for all to make quick banks and maybe get one that will run big..

you right we must get better at scanning.. I am with you brother..
  • #144
  • Jun 9, 2011 2:47am Jun 9, 2011 2:47am
I have to go now as I must get some sleep.I have family members who need my assistance in the morning.

Market is hot so you should be able to fire at will.

Your goal during the day is at least 4 MOM trades daily lookin for 30 to 50pips then all the extra 10 pip runs you can do before you fall asleep at the screen.Mom trades are the bulk of your daily cash the rest is just extra if you feel like it.

This type of trading is like tennis "you don't have to win every match to win the set".

Also that usd/chf trade we missed was a MOM also.
  • #145
  • Jun 9, 2011 3:14am Jun 9, 2011 3:14am
Boy2boy, Post 105

Years ago I read this quote that has remained with me since

“the market has spoken…………..were you listening?”

I think of this each time before placing a trade, so in looking at the GBP/USD chart you posted, the thing that immediately hit me was that the previous 15 bars had gone sideways with a range of just 8 pips.

Question to self: Do I want to take a trade just because an alert has gone off for this chart?

Answer: No, there has to be a better opportunity either now, or soon on some other currency that is not ranging.

It’s a great little system. Just take some time and watch the charts to see what happens to get a feel of the method.


Di
  • #146
  • Jun 9, 2011 4:08am Jun 9, 2011 4:08am
can i ask what is ur tma setting please.. becaose i load the temple but the the tma show a little difference for ur guy.. example .in ur chart u price is support at the TMA low band but my 1 is break out already it is my tma setting problem? thank ..
  • #147
  • Jun 9, 2011 4:45am Jun 9, 2011 4:45am
I am short on this one.. its MOMO trade in the direction of both stoch 1hr and 4hr.. lets see if it produces..
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  • #148
  • Jun 9, 2011 5:03am Jun 9, 2011 5:03am
Quoting P.Dean
I am short on this one.. its MOMO trade in the direction of both stoch 1hr and 4hr.. lets see if it produces..
exit for -12...
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  • #149
  • Jun 9, 2011 5:22am Jun 9, 2011 5:22am
Quoting P.Dean
exit for -12...
Wasn't your entry a bit late on that candle, just going by your pic?
  • #150
  • Jun 9, 2011 5:27am Jun 9, 2011 5:27am
Quoting P.Dean
I am short on this one.. its MOMO trade in the direction of both stoch 1hr and 4hr.. lets see if it produces..
I dont think thats a MOM trade, it was at the bottom of the TMA when u got the sell signal.
But what do u think of this one instead?
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  • #151
  • Jun 9, 2011 5:41am Jun 9, 2011 5:41am
I'm in it, but price is struggling against a 00 psych level

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pete
  • #152
  • Jun 9, 2011 5:43am Jun 9, 2011 5:43am
I have a question. If we get a signal, say short, and price is already at or below the lower band of the TMA, should we pass? In this GU example, we would have made +10 quickly even though our entry is 3 pips from the lower band. The EJ, for example was already touching the lower band by the time we got the signal and we would have sold on the low.

Also, where do you put your stops?

Thanks a lot for doing this!
Michael
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  • #153
  • Jun 9, 2011 5:44am Jun 9, 2011 5:44am
http://www.morningstar.co.uk/uk/mark...45955873652122

0925 GMT [Dow Jones] USD/CHF above 0.8390 suggests more gains, says Barclays Capital, but only as far as the May lows at 0.8460. The bank says only above 0.8555 would alleviate the current bearish outlook for the rate. USD/CHF is now at the day's high of 0.8412. ([email protected])

Sorry mate ...

but u've got in the fundamental's trap!!!

Use the following - when there is a chance for a trade, do google the pair and see whether the fundamentals are stronger than the technical

Cheerz,
T
  • #154
  • Jun 9, 2011 5:45am Jun 9, 2011 5:45am
I put a buy on this is it correct?
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  • #155
  • Jun 9, 2011 5:52am Jun 9, 2011 5:52am
That depends totally on your risk. If u take it then maybe go in with half or less and only aim for 10 pips TP. Its a risky trade.

Quoting alllivemind
I have a question. If we get a signal, say short, and price is already at or below the lower band of the TMA, should we pass? In this GU example, we would have made +10 quickly even though our entry is 3 pips from the lower band. The EJ, for example was already touching the lower band by the time we got the signal and we would have sold on the low.

Also, where do you put your stops?

Thanks a lot for doing this!
Michael
  • #156
  • Jun 9, 2011 5:54am Jun 9, 2011 5:54am
that would be correct, but still over the middle half, so aim for less TP.
Quoting VegasFx
I put a buy on this is it correct?
  • #157
  • Jun 9, 2011 6:06am Jun 9, 2011 6:06am
Quoting lehmann
that would be correct, but still over the middle half, so aim for less TP.
you were right I almost got to the TP but did not close it and now I am waiting for another chance.
  • #158
  • Jun 9, 2011 6:21am Jun 9, 2011 6:21am
Quoting lehmann
that would be correct, but still over the middle half, so aim for less TP.
hit the SL -265
  • #159
  • Jun 9, 2011 6:31am Jun 9, 2011 6:31am
Quoting VegasFx
hit the SL -265
I do hope thats -26.5
  • #160
  • Jun 9, 2011 6:32am Jun 9, 2011 6:32am
Quoting tozitip
Use the following - when there is a chance for a trade, do google the pair and see whether the fundamentals are stronger than the technical

Cheerz,
T
That is a joke right?
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