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  • #261
  • Jun 13, 2011 4:55am Jun 13, 2011 4:55am
Hi LJ,from what I remember you are using Oanda for some of your trades,do you have this spike on eurusd today?(chart).I had an open long trade with stop at 1.4298,got stoped out but on other feeds the low for today is at 1.4320-1.4319.The low of the spike is at 1.4287
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  • #262
  • Jun 13, 2011 5:06am Jun 13, 2011 5:06am
Quoting madboy
Hi LJ,from what I remember you are using Oanda for some of your trades,do you have this spike on eurusd today?(chart).I had an open long trade with stop at 1.4298,got stoped out but on other feeds the low for today is at 1.4320-1.4319.The low of the spike is at 1.4287
Yes I do have the same low. Oanda is open 24/7 and this spike is quite typical when the NZ and AUD markets start to open (but it prior to when most other brokers open for business) at 7-8pm on Sunday night (UK time).
  • #263
  • Jun 13, 2011 5:08am Jun 13, 2011 5:08am
Quoting lovejoy80
Yes I do have the same low. Oanda is open 24/7 and this spike is quite typical when the NZ and AUD markets start to open (but it prior to when most other brokers open for business) at 7-8pm on Sunday night (UK time).
Ok,got it,thanks
  • #264
  • Jun 13, 2011 6:10pm Jun 13, 2011 6:10pm
Quoting lovejoy80
I hope some of you Asia traders took this bread and butter setup...
...and a couple more pretty easy standard TT's
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  • #265
  • Jun 13, 2011 6:46pm Jun 13, 2011 6:46pm
Quoting lovejoy80
...and a couple more pretty easy standard TT's
Passed on both of those (e/n being a lot closer for me). Think I need a bit more urgency, passing on some pretty nice setups. Glad I at least was somewhat close on the trade management part, judging by your lines. Nice trades, hope they run for ya.
  • #266
  • Jun 13, 2011 6:54pm Jun 13, 2011 6:54pm
Quoting Jlr
Passed on both of those (e/n being a lot closer for me). Think I need a bit more urgency, passing on some pretty nice setups. Glad I at least was somewhat close on the trade management part, judging by your lines. Nice trades, hope they run for ya.
Why did you pass on them?

I'm not in them, I wasn't around for either, though they were on our watchlist just wasn't around when price hit both of these areas and I dont take trades blindly. Only trade I was around to take today was an EU long.

I pretty much only really actively trade 3.5 days per week most of the time, Monday's I'm normally busy with other trading related activities and I like to start my weekend early on Friday afternoon
  • #267
  • Jun 13, 2011 7:14pm Jun 13, 2011 7:14pm
Quoting lovejoy80
Why did you pass on them?

I'm not in them, I wasn't around for either, though they were on our watchlist just wasn't around when price hit both of these areas and I dont take trades blindly. Only trade I was around to take today was an EU long.

I pretty much only really actively trade 3.5 days per week most of the time, Monday's I'm normally busy with other trading related activities and I like to start my weekend early on Friday afternoon
Because I hate money Just kidding, though I wonder sometimes.

I just didn't think either PPZ was quite good enough. Also, not a huge factor in my decision making process (but a tiny bit), I didn't like the recent bullish upmove, and prefer more for them to just sort of ease their way up.

Nothing new for me to pass on good setups, I do it all of the time. A big part of my transition from a losing trader, to a slightly profitable one, was becoming ultra picky. I'm still sort of stick in that mentality, and its hard for me sometimes to put in volume, even on setups like these, where the odds are clearly in my favor. Getting better, though, so hopefully soon enough. Just need to keep pushing myself, and missing one like these, are always a good reminder.

If you don't mind, what are your other trading actives? Do you run a fund? Seems like you would be at this point.
  • #268
  • Jun 14, 2011 4:20am Jun 14, 2011 4:20am
Quoting Jlr
Because I hate money Just kidding, though I wonder sometimes.

I just didn't think either PPZ was quite good enough. Also, not a huge factor in my decision making process (but a tiny bit), I didn't like the recent bullish upmove, and prefer more for them to just sort of ease their way up.

Nothing new for me to pass on good setups, I do it all of the time. A big part of my transition from a losing trader, to a slightly profitable one, was becoming ultra picky. I'm still sort of stick in that mentality, and its hard for me sometimes to put in...
It's better to be too picky and profitable than gung ho and blow an account

I think being ultra picky and lerning to make consistent returns is a very good starting point, as confidence builds and you watch the market you'll become more tuned to what types of setups work and which ones dont that fit with your own personality and you can slowly change your rules to accomodate. Keeping a log of all trades that worked and didnt is a great way of reviewing and getting a feel for where you want to get to, it's how I came up with the rules that govern my trading and how I decided what types of setups I want to be putting some money down on and ones which I don't - all in accordance with what fits with my own personality.

I don't run a fund as such as managing investments or providing investment advice is a regulated activity in the UK (as it should be!) and the cost and process to obtain regulation is not appealing to me at the moment...but I do have access to external capital through other means.

My main immediate goal is to continue trading my current capital and grow this up to certain size within the next 12 months, after that who knows, maybe it'll be time to setup a hedge fund, no set plans to at the moment but definitely not ruling it out.

I'm also very keen on expanding and growing my FX teaching service, phase one of this is complete and now I'm working with others on a longer term expansion plan.

I also run a host of EA's and help develop / test existing and new EA's with a couple of other like minded traders...performance of these on my own account is doing pretty well so far.
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  • #269
  • Jun 14, 2011 4:47am Jun 14, 2011 4:47am
Hey Jeff,

Sorry for getting back to you late. Having a lot of problems with internet and electricity these days.

I dont really follow USDX and EURX, i occasionally take a peek at them when i am looking for something but not as much as LJ does.
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

Just took a short on EU at the break of 1h IB at fibs and PPZ. There were also some other good trades this week too like uchf and uj touch too.

There were some good correlation plays too for me like GU long at 240. Sorry cant post charts.
.
  • #270
  • Jun 14, 2011 4:50am Jun 14, 2011 4:50am
Quoting lovejoy80
...and a couple more pretty easy standard TT's
i bliv i had a 25pip stop on this, entry was based on something else though but good to see it tallies
so u run/ develop EAs LoveJoy, interesting ....good to know.
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Simplicity is the key to success
  • #271
  • Jun 14, 2011 6:47am Jun 14, 2011 6:47am
Quoting squeezy
i bliv i had a 25pip stop on this, entry was based on something else though but good to see it tallies
so u run/ develop EAs LoveJoy, interesting ....good to know.
I reckon I know why you entered

Never thought I would use an EA to trade with, but learned that they have their place and can be a useful addition to manual trading, so yeah I run a smaller account with some existing EA's that I've tested, developed and tweaked with couple others (well I didn't do the programming, I wouldn't know where to start!) pays some pocket money at the moment.
  • #272
  • Jun 14, 2011 8:14am Jun 14, 2011 8:14am
Notice how Oil broke downwards from its range but Ucad dint broke upwards as it should have, actually it broke it's rising TL and usd dint rally much against cad like it did against others.

Maybe time for a new low.
.
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  • #273
  • Jun 14, 2011 8:38am Jun 14, 2011 8:38am
Quoting lovejoy80
I reckon I know why you entered maybe, maybe not

Never thought I would use an EA to trade with, but learned that they have their place and can be a useful addition to manual trading, so yeah I run a smaller account with some existing EA's that I've tested, developed and tweaked with couple others (well I didn't do the programming, I wouldn't know where to start!) pays some pocket money at the moment.
done some testing myself but noticed didnt trigger my order all the time, didnt like it much but might still do some more testing & maybe create one based on my style of trading.

Edit: hello nasir
Simplicity is the key to success
  • #274
  • Jun 14, 2011 10:49am Jun 14, 2011 10:49am
US data comes out a little better in a trend of bad releases.

Uchf shoots up 70 pips UJ goes like 35-40 pips up (which is impressive if you know what i am talking about).

EU goes down just 30 odd pips.

What happens next?

Eu hits 1H Fibs + TL + PPZ, Makes a 15M PB and than does go on to make a 1H PB.

Market cant yell at you to pull the trigger but sometimes it does comes close.

I would have bought even if there was no Conf or PA was there. Its a little advance stuff but was too good to not pass it on here.

I got in too late cause i was already long earlier when i closed my short near BE and went long.

P.S: Hey Squeezy.
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  • #275
  • Jun 14, 2011 3:14pm Jun 14, 2011 3:14pm
Quoting lovejoy80
I only use 50/61 fibs, from my own research I found these to have a much higher potential as confluence than the other fibs.

On AU I see it in a weekly range and have no PA on my feed. The 1.0600 area on the lower TF's is an area of interest for me.
(I was going to post this much earlier but somehow lost my internet conection, all the same I will post it now)

Thank you so much for your response LJ. I confess I never saw that range,I guess it's one of those things that come with intuition as one grows...it's inspiring and I admire that. I hope to get there someday. Thank you.

1. So you wouldn't take such a trade where you have have fib 38.2 confluence though there is a valid FTB to a S/R?
2. Would you consider that my Daily Tf PPZ S/R as valid?

3. This is really not that related - how have you been able to display fewer RN's on your Weekly Chart, I've always wanted fewer to to be to view fewer but relevant ones as I move on to Daily and Weekly it is always as clustered as you see in my chart there.
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  • #276
  • Jun 14, 2011 3:41pm Jun 14, 2011 3:41pm
Quote
3. This is really not that related - how have you been able to display fewer RN's on your Weekly Chart, I've always wanted fewer to to be to view fewer but relevant ones as I move on to Daily and Weekly it is always as clustered as you see in my chart there.

I use the Grid_v1_0 indicator and I just add it once for each set of timeframes where I want the RN spacing to be the same.

So for example I might have one for the Monthly, Weekly TF with a RN spacing of 10000, one for the Daily TF with a RN spacing of 1000 and one for the 1HR and 4HR TF only and with a RN spacing of 500.

Let me know if you need the indicator or need that explained in more detail (I'll send a screenshot if the above is not clear).
  • #277
  • Jun 14, 2011 3:55pm Jun 14, 2011 3:55pm
Quoting jeffokes
(I was going to post this much earlier but somehow lost my internet conection, all the same I will post it now)

Thank you so much for your response LJ. I confess I never saw that range,I guess it's one of those things that come with intuition as one grows...it's inspiring and I admire that. I hope to get there someday. Thank you.

1. So you wouldn't take such a trade where you have have fib 38.2 confluence though there is a valid FTB to a S/R?
2. Would you consider that my Daily Tf PPZ S/R as valid?

3. This is really not that related - how have...
I just don't use any other fibs other than 50 or 61 when looking for confluence, the other fibs are not even showing on my default fib indicator. An FTB can be a tradable setup within itself without any additional confluence though.

I've attached my current AU chart, it's a pretty messy pair and is in a clear range (can be seen more clearly on the weekly TF IMO)
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  • #278
  • Jun 14, 2011 8:59pm Jun 14, 2011 8:59pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
what a bueatiful line, superb

Quoting nasir.khan
US data comes out a little better in a trend of bad releases.

Uchf shoots up 70 pips UJ goes like 35-40 pips up (which is impressive if you know what i am talking about).

EU goes down just 30 odd pips.

What happens next?

Eu hits 1H Fibs + TL + PPZ, Makes a 15M PB and than does go on to make a 1H PB.

Market cant yell at you to pull the trigger but sometimes it does comes close.

I would have bought even if there was no Conf or PA was there. Its a little advance stuff but was too good to not pass it on here.

I got in too late cause...
  • #279
  • Jun 14, 2011 9:11pm Jun 14, 2011 9:11pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
here are two of mine for fun

krue
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  • #280
  • Jun 14, 2011 11:08pm Jun 14, 2011 11:08pm
Quoting krue
here are two of mine for fun

krue
You entered EG on the retrace of the daily bar?

Cant see the reasoning behind EAUD.

P.S: No stops? Remember its a bushiness you cant have fun with a business if you wanna succeed.
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