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Spider's Den

Suprising but true..
Some traders trade round the clock ..
I dont 8:00 to 16:00 GMT with a break between 11:30 to 12:30

so see you after the break..

Regards
Black Widow
Be sensitive to subtle differences between 'intuition' and 'into wishing.
Ok Thanks Mr T

So basically what you are saying is that you don't place normal technical stops because these known to the market and a stop run would take out your stop and then possibly reverse back in the direction of your trade.

By place a stop above that based on some analysis of H1 ATR you are unlikely to be taken out of your trade by a stop run.

The only drawback to this I can see is a hit to your R:R but if this improves your ratio of winners to losers because your stops rarely get hit this is acceptable.

Thanks


V
Here is a chart attatched of how the trading zone we spotted at 8:30 in the morning and how it is working almost perfectly...
Bearing in mind this does not happen all the time but will boost the confidence in trading...
Enjoy
Attached Image (click to enlarge)
Click to Enlarge Name: 1 min time frame in zone works.gif Size: 22 KB
Be sensitive to subtle differences between 'intuition' and 'into wishing.
Here is one Last chart for EU..Explaining Forward thinking and what happens next...

A Bearish Wedge is in formation but most detail are outlined on the chart..

Regards
Black Widow
Attached Image (click to enlarge)
Click to Enlarge Name: critical point for eu.gif Size: 21 KB
Be sensitive to subtle differences between 'intuition' and 'into wishing.
38% Retracement along with Supply zone comes around 1.404x area.... watching it closely any one on the same level........
Attached Image (click to enlarge)
Click to Enlarge Name: eunew1.gif Size: 28 KB
Quoting Munal
38% Retracement along with Supply zone comes around 1.404x area.... watching it closely any one on the same level........

Perfect zone for shorting....
Be sensitive to subtle differences between 'intuition' and 'into wishing.
Quoting BlackWid0w
Perfect zone for shorting....

.
Quoting BlackWid0w
Hi,

First of all In a very kind manner please remove the post reason...
What did you achieve from posting this entry on here..
A) Did you tell us you were taking the trade...?
B) Was there a chart and entry prior to this entry...
C) No logical explanation..

This is not and I repeat not the EU thread...

Thanks for you understanding

Regards
Black Widow
Watch out for retrace of a Channel Break and daily S1 in 1 hourly at the same level... 5 MTF can give a big picture. Followed by 100 SMA as support so a TL break Retrace.. Daily Pivot.....100 SMA multi supports comes around.....1.393x area......
Attached Image (click to enlarge)
Click to Enlarge Name: eu5mtf.gif Size: 28 KB
Quoting BlackWid0w
Suprising but true..
Some traders trade round the clock ..
I dont 8:00 to 16:00 GMT with a break between 11:30 to 12:30

so see you after the break..

Regards
Black Widow
exactly the break is when consolidation is taking place.

Neither do I. I trade 08-12, then usually 13.30-16.00 ( 1.30 pm - 4.00 pm)
4052 stop loss

Updated chart in 5mins

3981 another short taken

Here is the updated chart. 1/7 normal position taken as stop loss is too far away. I wont risk much, 2:1 leverage, as I want to keep the profit. Now thats MM. Even if s/l gets hit, i will still be in profit.

Reasons: RSI signaled another reversal and ( white zigzags) is still betw. 60>20 bearish.

Trend following as h1 is in downchannel, stops place 10 pips above main midchannel line. All those shooting stars should signal buying weakness.

Attached Image (click to enlarge)
Click to Enlarge Name: eur11.gif Size: 36 KB
Quoting [email protected]
Scaling in...

Lets say u have made a short entry at 1.4000 with TP 1.3950 and s/l 1.4030.

The trade at first goes well +5 + 12 pips then it suddenly reverses...

1.4010, 4022 ...You are - 22 but you are confident in your trade. You open another position with same s/l 1.4030.

So now you have two shorts ( MM risk included 2-3% max risk or 10:1 leverage)

So now you have 2 shorts 1.4000 and 1.4022. JUDGING that you have done your homework ok, your sl should never be hit...

You close it at 3950 finally. Now look at r:r the SECOND position has given...
thanks for taking the time out to post that mate

in a way by doing this arent i just adding to a losing position?

i understand that i would only lose a further 8 pips on the 2nd lot i entered, but now my total loss would be 38 instead of 30.......should my stop loss get hit?

i guess by doing it this way, in a successful trade, i would increase my R:R dramatically. instead of winning 50 pips i now win 122. so r:r would be 1:3 by scaling in....

but how can i be so confident that my SL wont get hit and add the 2nd lot?

does this just come with experience? as i would think most newbies (like me) would see the first trade go -22 and the last thing we would do is add another lot with such a small SL considering the first lot was so close to being stopped out.....

everything ive learnt says that good trades go your way......pretty quickly?

thanks
Quoting Munal
38% Retracement along with Supply zone comes around 1.404x area.... watching it closely any one on the same level........
thanks for that

i have never been good at using fibbs as i find the placement of them very subjective, and im not sure how many traders would be looking at the exact same information?

ive attached a chart, hope you can help explain it better to me (me and fibbs dont get along lol)....
Attached Image (click to enlarge)
Click to Enlarge Name: fibb.png Size: 61 KB
Quoting red2010
does this just come with experience?
thanks
Yes.
Quoting red2010
thanks for that

i have never been good at using fibbs as i find the placement of them very subjective, and im not sure how many traders would be looking at the exact same information?

ive attached a chart, hope you can help explain it better to me (me and fibbs dont get along lol)....
Clue:

Can you try to post one more chart from your end where price retrace before the fall.... with fibo......
Quoting [email protected]
4052 stop loss

Updated chart in 5mins

3981 another short taken

Here is the updated chart. 1/7 normal position taken as stop loss is too far away. I wont risk much, 2:1 leverage, as I want to keep the profit. Now thats MM. Even if s/l gets hit, i will still be in profit.

Reasons: RSI signaled another reversal and ( white zigzags) is still betw. 60>20 bearish.

Trend following as h1 is in downchannel, stops place 10 pips above main midchannel line. All those shooting stars should signal buying weakness.

Attachment 740237
Aw well some scaling out for +21 and stops already at BE
Hi Guys well a decent score in the spiders den of over 150-200 pips depending on where you guys took entry etc...

Well done Tarantula...another spot on trade to finish the day....

Shall See you all tommorow morning..

Have nice evening...16:00 for me means no more trading...

Hope to see you all tommorow..

Regards
Black Widow...
Be sensitive to subtle differences between 'intuition' and 'into wishing.
Quoting Munal
Clue:

Can you try to post one more chart from your end where price retrace before the fall.... with fibo......
sorry im not sure exactly what you mean? i have attatched a chart, but im not sure if this is what your looking for?
Attached Image (click to enlarge)
Click to Enlarge Name: fibbo retrace.png Size: 81 KB
GU

Approaching resistance zone........ Good Supply level around....
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.gif Size: 32 KB
Quoting [email protected]
Aw well some scaling out for +21 and stops already at BE
OK BE hit.

Now lets see, I still favour shorts.
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