On My Way To The Top

Note to self...divergence on the higher time frames can be very telling of whats to come as in this picture where there is clearly lots of cases of bullish divergence before the actual up move...divergence is not to be traded stand alone in my opinion...but a very useful tool and another good thing and method of employing the stochastics...off to bed to watch yet another movie I have gotten from the red box...and see what u.k brings in the morning...will start posting live trades to keep up with everything as time progresses....just keep forgetting to actually take pics as I take my trades since in the mornings I'm always doing so much as trading with day job and such...just have to get in the rhythm...


Paul

darn it...as I was typing everything up I missed a really nice entry on the 5 minute good for what is 1:5 right now...bouncing off nicely trending and stacked ema's with daily 4 hour and 1 hour 30 down...all good for showing trend to the downside though I only use the 30, 1 hour, and 4 hour for the five minute chart but the extra confidence is good...nice candle pattern at the ema showing potential for price to be rejected...with red ha candles also...but there will be more...just trying out stoch bars from created from MJ on here...that has option for no interpolation and no repainting of data...for easier viewing of higher time frames from lower time frames...

Paul

hi pmullin86,

Skipping through your recent posts I have noticed that you seem to have moved on to different MA's: Any reason? and what settings are you using now?

Before I was using the guppy which had these ema"s in there as well to an extent but I just decided to simplify it so these are just an ma for a shoter time period an intermediate time frame and a longer time frame and are the 50 ema closed 100 ema closed and 200 ema closed...

Paul

Thanks

No worries...

currently short the usd chf taken off the one hour chart with divergence...ma's lined up...four hour above 50 and almost overbought for pip room and price up to the 100 ema... with h1 stoch coming down from overbought level...and daily oversold...just waiting to set to break even...a few pips away from that point so I will see how it goes...

Hey P, looks like all is going good in your neck of the woods! Keep the pips coming!

May take a while to set up as the five minute would need to get the moving averages and such back on board for the short followed by the fifteen and etc...and at that point I can perhaps if this trade works out...add to my position with scalps from the five minute chart entries...must first get to this being a free trade before making any moves like that though...must always first think of protecting capital and managing trades accordingly...

Paul

Thanks dizzle...as long as the market offers...I will gladly take...nice buy by the way...


Paul

Thanx!

stop now moved to break even


Edit....out at b/e

Also just came up with the idea that I've been halfway playing with off and on since last week and that is also taking trades off the 1 minute...using the 1 hour as the long term trend...the 15 minute as the shorter term trend and the 1 minute as the entry stochastic...havent really watched too much in live scenario but seems logical....

so...its kind of funny how I always find myself coming right back to original ideas and methodologies that I started out with...(what are you talking about?) well when first starting this journal I traded in one of two ways...one I would open a position and close half at a given exit target or exit criteria being met and trail the other half by lower swing highs in a down trend and higher swing lows in an uptrend and just do that until the market stopped me out or I would just open to seperate positions and treat in the same manner...so I currently risk 2% per trade so I think that the solution to my issue of trying to trail and capture pips from a nice trend is simply to continue doing something like that again where I just trail half the position by r:r as I always do and than the other half just trail by maybe the next higher time frame touches of the 50 ema...so if taking an entry on the 5 minute half position will be trailed lets say if reaches 1:3 and than reverses to 1:2 than half will be closed for 1:2 while the other half will be trailed by the touches of the 50 ema on the 15 minute time frame while of course setting whole lot size to break even after reaching 1:1....if trade gets me out at break even its ok and much better than a loss as I can just keep it moving and look for my next entry...(just throwing around some ideas here) or maybe just riding the other half to the daily projected range or within ten percent of that...(idea from Dredding82's thread....very good information on there as well...) got me into taking note of price rejections and price action around those rejection levels in itself...whatever levels it is one decides to use but he gets into a bit of mm ideas and that is one that is stressed and that I do see as a very good way to maximize profits as well...) so will keep brainstorming and trying some different things out...) didn't trade today as I've been having a pretty hectic morning with my day job and waking up a bit later than I should..

Paul

...

my gu and eu entries for today...

took this sell on the usd chf and got stopped out so
-2%

short taken on the nzd usd 07/28/2011

entries on eu and gu 07/26/2011

I think with the exception of two trades...these are all my trades for the week...been a pretty busy week...and those two trades...the pics are not on my work computer so will post when I get home from work a bit later on in the day...

hi pmullin86,

just a thought: I think it is a shame that one can not see anymore which Time Period the charts use.

Also for visitors it would be helpful if you point out if the trade was a short or long - I see you did it just one some. (no complain just an idea to make it more beneficial for visitor.