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  • #2,121
  • Edited 4:21am Jul 5, 2011 4:05am | Edited 4:21am
Quoting P.Dean
for example.. i just got three bearish signals on gu, ej, au.. if i had to take action which one do you think would be more logical??
Sorry Dean, dunno where I got the 'Pete' from lol
I'd favour the cable setup out of the 3 as it has the best r/r ratio in my book but no signal to short it yet, at least on my settings

edit: obviously i didn't edit fast enough lol ----> "but no signal to short it yet, at least on my settings"
+ at those levels (61xx) 4H Stoch is now up (as well as 1H) so no short here
  • #2,122
  • Jul 5, 2011 4:12am Jul 5, 2011 4:12am
Quoting olivierforex
Sorry Dean, dunno where I got the 'Pete' from lol
I'd favour the cable setup out of the 3 as it has the best r/r ratio in my book

wow.. cable was rejected by me on the first look.. I can not go short on that.. simply too far from the band its passed the OB and its into new zone of making bullish strides..

my answer was No to all three.. and i make those decisions within a minute or two max..

the point is that i get a lot of signals but not all survive through my scanning tube.. its just early alert to not miss out on a possible valid trade.

I can give you all one other tip about how to deal best for the entry not late and not premature.. if i hear interests i make a post about it..
  • #2,123
  • Edited 5:17am Jul 5, 2011 4:16am | Edited 5:17am
AUDUSD Sell

EDIT: Not the best start to the day (-15.2 Pips)
though I think I know what I did wrong, and not take notice of what the bands were telling me, plus the fact that the thick white line is the last lower high.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD-2011.07.05-11.15-5m.gif Size: 27 KB
  • #2,124
  • Jul 5, 2011 4:21am Jul 5, 2011 4:21am
Quoting jmw1970
AUDUSD Sell
i got a short pending order on this right below the big bearish candle..


my reasoning..
PA is just awfully indecisive to take shot before the close of the bar..
and other major pairs kind of dollar unhappy.. lol
so i decided to go conservative on this one with the pending..
  • #2,125
  • Jul 5, 2011 4:25am Jul 5, 2011 4:25am
yeah, thinking about it, I might have been better to see if it broke the low of the previous attempt down

there is only one thing you can guarantee, which ever option you choose invariably it's the wrong one!!!
  • #2,126
  • Jul 5, 2011 4:28am Jul 5, 2011 4:28am
now in short with au..
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  • #2,127
  • Jul 5, 2011 4:31am Jul 5, 2011 4:31am
Quoting jmw1970
yeah, thinking about it, I might have been better to see if it broke the low of the previous attempt down

there is only one thing you can guarantee, which ever option you choose invariably it's the wrong one!!!

yep... and that's why they: that's why we play the game..
a Trader is made.. off his decisions in real time.. rest is just stories.


today i might have to go out and buy myself a winner.. lol
  • #2,128
  • Jul 5, 2011 4:35am Jul 5, 2011 4:35am
ok Dean, I'd be interested to hear your views "about how to deal best for the entry not late and not premature"


Thanks

Di
  • #2,129
  • Jul 5, 2011 4:35am Jul 5, 2011 4:35am
Quoting P.Dean
short on e/u... let's see howmuch i lose on this one.. lol

edit 1.. risk dropped to half.. now either it runs to lower band or hits the sl.. -10 is right about my avg loss..

edit 2.. out at BE...
you all saw how i screwed up this one.. lol

but, it was a live decision making.. its easy to criticize or praise now about an hour later..
  • #2,130
  • Jul 5, 2011 5:15am Jul 5, 2011 5:15am
you've got us all salivating on how you reject certain signals quickly

sometimes for me i get an itchy finger and just go when the signal comes, then think about it afterwards (not a good strategy)

though I am thinking now that for me at least a filter should be the TMA band, it should either be neutral (ie. flat) or going in my direction

looking back at the trades I have made, the trades that took the least heat (drawdown) were ones where the bands were either sloping in direction or flat (of course some of these closed at b/e or less profit than it should have been - but that's just bad trade management on my behalf)

every trade I have taken that is hit full sl (ie no chance to reduce the risk in trade) has been when i have tried to get in at the beginning of the move back to the trend direction early, while it is still on it's correction)

last au trade was case in point
  • #2,131
  • Jul 5, 2011 5:30am Jul 5, 2011 5:30am
gonna take a break until ny opens, the market doesn't seem to have much idea of what it wants to do ... apart that is from try and make dents in my hard earned profits.
  • #2,132
  • Jul 5, 2011 7:33am Jul 5, 2011 7:33am
Quoting kevinator
5m Kevinator retracement system ...
If the market is stepping up then you take buy retracement bars.If the market is stepping down you take the sell retracement bars.

Retracement bars are the magneta(purple) bars on the indicator on the bottom.If the market is stepping down you take the downward magneta bars as entry.If the market is stepping up you take the upward magneta bars as entry.
LONGTERM
You can either enter the market (long term) when the mtf stochastics is changing directions and hold until trend is done or at any of the retracement...
Morning John and Dean (sounds like a oldies group)

Looks like markets are choppy, dangerous waters, eh.
  • #2,133
  • Jul 5, 2011 7:51am Jul 5, 2011 7:51am
mom possible on e/$ soon

at last
  • #2,134
  • Jul 5, 2011 8:02am Jul 5, 2011 8:02am
yeah the markets appear to be in a consolidation mode

eu looks though it might set up for scalp short

have you looked at the staircase breakouts thread? I created the longer consolidation zone on my 15m and extended it, then switched to 5m

the market went back into consolidation at the last level of consolidation set the other week on 1st july
  • #2,135
  • Jul 5, 2011 8:11am Jul 5, 2011 8:11am
Quoting jmw1970
yeah the markets appear to be in a consolidation mode
Agree
eu looks though it might set up for scalp short
Agree
have you looked at the staircase breakouts thread? I created the longer consolidation zone on my 15m and extended it, then switched to 5m
Will check it out
the market went back into consolidation at the last level of consolidation set the other week on 1st july
  • #2,136
  • Jul 5, 2011 8:17am Jul 5, 2011 8:17am
Quoting jmw1970
yeah the markets appear to be in a consolidation mode
Agree
eu looks though it might set up for scalp short
Agree
have you looked at the staircase breakouts thread? I created the longer consolidation zone on my 15m and extended it, then switched to 5m
Will check it out
the market went back into consolidation at the last level of consolidation set the other week on 1st july
e/u now tested 4490 3 times bulls running out of steam
?
Wait for it
  • #2,137
  • Jul 5, 2011 8:19am Jul 5, 2011 8:19am
EURUSD Sell

risky as market in consolidation, but will treat as a scalp and monitor carefully, also only risking 9 pips
Attached Image (click to enlarge)
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  • #2,138
  • Jul 5, 2011 8:19am Jul 5, 2011 8:19am
Quoting jmw1970
you've got us all salivating on how you reject certain signals quickly

sometimes for me i get an itchy finger and just go when the signal comes, then think about it afterwards (not a good strategy)

though I am thinking now that for me at least a filter should be the TMA band, it should either be neutral (ie. flat) or going in my direction

looking back at the trades I have made, the trades that took the least heat (drawdown) were ones where the bands were either sloping in direction or flat (of course some of these closed at b/e or less profit...
i don't get your post John.. i may well be missunderstood as i think you upset with me.. if that's the case.. first of all i am sorry, and secondly I solely was talking about myself and how real time is so much different than hindsight.. bcz of what i could see or not see then when I made my exit.
  • #2,139
  • Jul 5, 2011 8:22am Jul 5, 2011 8:22am
no, not upset with anyone

maybe I explained it wrong (english is not my first language)

in an earlier post (post 2122) you mentioned that if you get enough replies you will explain how could give us one other tip on how to avoid bad entries

thats what I am waiting on.. the other tip

regards, john

Quoting P.Dean
i don't get your post John.. i may well be missunderstood as i think you upset with me.. if that's the case.. first of all i am sorry, and secondly I solely was talking about myself and how real time is so much different than hindsight.. bcz of what i could see or not see then when I made my exit.
  • #2,140
  • Jul 5, 2011 8:34am Jul 5, 2011 8:34am
Quoting jmw1970
EURUSD Sell

risky as market in consolidation, but will treat as a scalp and monitor carefully, also only risking 9 pips
We got about the same entry, I think we will be happy with this one
:nerd:
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