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Trades based on Market Geometry and Price Action

  • #1,141
  • Jun 21, 2011 5:15pm Jun 21, 2011 5:15pm
yea. i have just seen the news. i am still in the midst of making a decision. should i stop now, or should i leave it.
  • #1,142
  • Jun 21, 2011 5:16pm Jun 21, 2011 5:16pm
DK, are u saying that we could possibly see a movement below 1.617?
  • #1,143
  • Jun 21, 2011 5:19pm Jun 21, 2011 5:19pm
yes gbp/usd will fall... i'm still in that trade too. and the pattern i'm seing tells me to stay...
  • #1,144
  • Jun 21, 2011 5:22pm Jun 21, 2011 5:22pm
the news seems to be bullish. i am currently -20 pips. sl set at 1.6270 i guess i will get a rest and after waking up, it will be a good day !
  • #1,145
  • Jun 21, 2011 5:34pm Jun 21, 2011 5:34pm
Quoting dailyking
yes gbp/usd will fall... i'm still in that trade too. and the pattern i'm seing tells me to stay...
Where are you short from, DK? Looking at the RSI really can't see a reversal before 16300 area??


rgds
Attached Image (click to enlarge)
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  • #1,146
  • Jun 21, 2011 5:46pm Jun 21, 2011 5:46pm
i don't trust these indicators. price can gop till 1.6300 . but if it falls below the 1.6210, i know the reversal will already have started. i'm down -40 pips from the trade i took in the morning...but, price is heading to the down side for me. the next 4hr candle close will give me more insights...
  • #1,147
  • Jun 21, 2011 6:09pm Jun 21, 2011 6:09pm
i also cancelled the order i used to have on eur/usd. i will enter with the new market analysis
  • #1,148
  • Jun 21, 2011 7:04pm Jun 21, 2011 7:04pm
Quoting dailyking
i don't trust these indicators. price can gop till 1.6300 . but if it falls below the 1.6210, i know the reversal will already have started. i'm down -40 pips from the trade i took in the morning...but, price is heading to the down side for me. the next 4hr candle close will give me more insights...
how much % you made this week dk?
  • #1,149
  • Jun 21, 2011 7:23pm Jun 21, 2011 7:23pm
past week or the one that has just started ?
  • #1,150
  • Jun 21, 2011 7:29pm Jun 21, 2011 7:29pm
Quoting dailyking
past week or the one that has just started ?
just this week
  • #1,151
  • Jun 21, 2011 7:43pm Jun 21, 2011 7:43pm
i'm up only 2.5%. you remember at the begining of the week i took 2 losses. this made me down a bit. i recovered, and grab some couple more percent
  • #1,152
  • Jun 21, 2011 7:45pm Jun 21, 2011 7:45pm
i have a strong money management discipline...that's the key to stay in this game for long time
  • #1,153
  • Jun 21, 2011 7:46pm Jun 21, 2011 7:46pm
Quoting dailyking
i'm up only 2.5%. you remember at the begining of the week i took 2 losses. this made me down a bit. i recovered, and grab some couple more percent
good to hear
  • #1,154
  • Jun 21, 2011 7:50pm Jun 21, 2011 7:50pm
i only got a .25% so far but ive been tryn new things out...watchn you trade has helped...thinkn i might use a smaller range
  • #1,155
  • Jun 21, 2011 7:51pm Jun 21, 2011 7:51pm
invest only 1% per transaction...this way when you lose, you can handle it. when you will master your strategy, you can invest more. look for steady results, not 100% per month of week. you don't need that.
After mastering a trading style, you will add more capital, so making more money
  • #1,156
  • Jun 21, 2011 7:54pm Jun 21, 2011 7:54pm
Quoting dailyking
invest only 1% per transaction...this way when you lose, you can handle it. when you will master your strategy, you can invest more. look for steady results, not 100% per month of week. you don't need that.
After mastering a trading style, you will add more capital, so making more money
yeh thanks, i understand that...im only doing a .5% per trade atm
  • #1,157
  • Jun 21, 2011 7:57pm Jun 21, 2011 7:57pm
how many trades do you take at the same time ?
  • #1,158
  • Jun 21, 2011 8:02pm Jun 21, 2011 8:02pm
Quoting dailyking
how many trades do you take at the same time ?
ive only made 4 trades this week, but im trying to keep it at 5 max open at once
  • #1,159
  • Jun 21, 2011 8:07pm Jun 21, 2011 8:07pm
5 maximum open at once. do not put in each trade more than 1%
  • #1,160
  • Jun 21, 2011 8:09pm Jun 21, 2011 8:09pm
Quoting dailyking
5 maximum open at once. do not put in each trade more than 1%
got ya
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