Before the long trade, I have made a short trade and wanna to share.
Shake it off!Lick the Wound,Prey Again!
Intraday price action trend trading
Miss EU. Shoted GU
- #7,004
- Jun 23, 2011 12:25am Jun 23, 2011 12:25am
- Joined Feb 2009 | Status: Illegitimi non carborundum | 3,526 Posts
Illegitimi non carborundum - Noli pati a scelestis opprimi.
- #7,005
- Jun 23, 2011 12:54am Jun 23, 2011 12:54am
Frankfurt and London Open.
I managed to catch a 40 pip short on the EU. Makes for a nice evening. Time for bed for me
See you and sleep tight
Shake it off!Lick the Wound,Prey Again!
- #7,006
- Jun 23, 2011 2:14am Jun 23, 2011 2:14am
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My USDCAD(short) & GBPUSD(long) have been failed.
I commited the same mistakes yesterday
Megara, i remember one time, Sho said trend line doesn't exist in order book, only support and resistant exist(supply/demand).
However, i saw that sometimes there are beautiful reactions on the trendlines.
Maybe we can use them as an additionnal tool, but we have to consider first support and resistant because certainly more reliable.
However i would have taken the USDCAD, because with the momentum, and this PB on the trendline is reassuring. It was a good setup imho.
But i wouldn't have taken the GBPUSD, very big down momentum, i think it was a little dangerous to go long.
I hear and I forget. I see and I remember. I do and I understand.
- #7,010
- Jun 23, 2011 3:55am Jun 23, 2011 3:55am
I want to have an explanation about profit calculation.
If i have an account in $, it's easy to calculate the profit or the loss with the crosses of this currency (EURUSD, AUDUSD,USDCAD....) because the result depend on only a cross.
But in the case if i trade a cross without USD (for example EURJPY,EURGBP), we have to watch two crosses for calculate our profit, isn't it?
Example: I win 20 pips on EURJPY, but if in the same time EURUSD has gone up 20 pips too, what i have win? nothing? .
if someone could me explain that, because for me it is a mistery
I hope i have been clear, not sure
If i have an account in $, it's easy to calculate the profit or the loss with the crosses of this currency (EURUSD, AUDUSD,USDCAD....) because the result depend on only a cross.
But in the case if i trade a cross without USD (for example EURJPY,EURGBP), we have to watch two crosses for calculate our profit, isn't it?
Example: I win 20 pips on EURJPY, but if in the same time EURUSD has gone up 20 pips too, what i have win? nothing? .
if someone could me explain that, because for me it is a mistery
I hope i have been clear, not sure
I hear and I forget. I see and I remember. I do and I understand.
- #7,012
- Jun 23, 2011 7:41am Jun 23, 2011 7:41am
- Joined Feb 2009 | Status: Illegitimi non carborundum | 3,526 Posts
Yes, i like your trade.
I will look for the montly and weekly pivot on the net, i thing it's good to have them on char. i have soon the daily, and it's a good tool for TP, and watch setup on it.
Hi Boubafx
This is the pivot indi. I use.
I turn the Sunday data to false and weekly and monthly to true. I also like to simplify my charts whenever I can so I also have it only show on a 5m chart.
Pivots are one of those things I need a clear reversal off of to take a position. Seems like once in a while some big bank somewhere will get up in the morning and say "We will take a position on the D3 pivot today if it gets there". That is where I like to step in and join their ride.
Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
- #7,013
- Jun 23, 2011 7:47am Jun 23, 2011 7:47am
- Joined Feb 2009 | Status: Illegitimi non carborundum | 3,526 Posts
Illegitimi non carborundum - Noli pati a scelestis opprimi.
- #7,014
- Edited 9:24am Jun 23, 2011 8:53am | Edited 9:24am
I think I am understanding what you are saying.
The way I look at it Pips have no value at all until you turn them to cash. Then they give you more ammo for the next position.
Technically the value of an orange goes up and down every day as the currencies change values. But keep it simple and enjoy the orange, or in our case enjoy the pips you have turned into cash.
I'm not sure you really understand what i try to explain. it's difficult for me to explain clearly what i have in the mind!!!! But for me, i really understand nothing at your answer. I read and reread, but always understand nothing
Orange?????????????????????????? I suppose it's a metaphor. If you had said "kiwi" i would have understand(NZD/USD), but "orange"???
Sorry, but English is not my native language, it's maybe for that!!!!!
I hear and I forget. I see and I remember. I do and I understand.
thx bobafx!
im not gonna take this trade bc im done for today.(was able to take +75 ticks from the market so im happy with that)
now im gonna go relax and play some tennis
i was just curious to know if it was a good set up since im still consider myself new to this method and needed confirmation from u guys who are much more familiar with this.
thanks again!
see u later!
have a good one!!
im not gonna take this trade bc im done for today.(was able to take +75 ticks from the market so im happy with that)
now im gonna go relax and play some tennis
i was just curious to know if it was a good set up since im still consider myself new to this method and needed confirmation from u guys who are much more familiar with this.
thanks again!
see u later!
have a good one!!
