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Easy no stress daily charts:)

  • #161
  • Jul 15, 2011 11:27am Jul 15, 2011 11:27am
Quoting Olu
Slurpee I want to comment on your charts. I just like the way you do them. You have it zoomed out and there is the history of all the trades you have taken on them. It provides a strong visual impact of the profitability of the system over time. It is also a good training tool. Well done.
Thank you
Live it or leave it!
  • #162
  • Jul 15, 2011 11:36am Jul 15, 2011 11:36am
Quoting jcdollar
Below is a snap shot of last nights AUD/USD, and this mornings (my time) snap shot....

http://i1194.photobucket.com/albums/...nja/AUSUSD.png

Correction AUD not AUS, my bad I dont follow this pair much, any thoughts from anyone, would you of bought in as well, or waited, any thing! This helps me learn for future trading!

Cheers

jcdollar, seriously, did you read my 1st post at all?

4) My money management (the key to success) - I risk 3% of my account. I open two trades, one is 1,5%, the second half as well. First half has this setting - SL=170 pips, TP=170 pips, BE+1 when the price reaches +100 pips. On GBPUSD the SL and TP is 200 pips.
Second half setting - SL=170 pips, TP=none (wait for the exit as per rules), BE+1 when the price reaches +100 pips.


That means that no, my SL is not hit yet. Yes, it is going against me, but that is trading! we will never be right 100%, there will be losses! You never know, what the price will do after you enter. You just have to follow your rules if you trust your system! I trust this system so I enter a trade when the rules tell me to, I don't question it!

And just a hint... if you are a beginner, put away all those "trend lines"... Keep the charts as simple as possible...
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.png Size: 182 KB
Live it or leave it!
  • #163
  • Jul 15, 2011 11:42am Jul 15, 2011 11:42am
I also went long with AUD/USD and keep that untill it hits SL (hopefully, not). But I closed AUD/CAD with some loss as I don't like to have too much exposure with one currency (AUD)...
Quoting Slurpee
jcdollar, seriously, did you read my 1st post at all?

4) My money management (the key to success) - I risk 3% of my account. I open two trades, one is 1,5%, the second half as well. First half has this setting - SL=170 pips, TP=170 pips, BE+1 when the price reaches +100 pips. On GBPUSD the SL and TP is 200 pips.
Second half setting - SL=170 pips, TP=none (wait for the exit as per rules), BE+1 when the price reaches +100 pips.


That means that no, my SL is not hit yet. Yes, it is going against me, but that is trading! we will never...
  • #164
  • Jul 15, 2011 11:58am Jul 15, 2011 11:58am
4) My money management (the key to success) - I risk 3% of my account. I open two trades, one is 1,5%, the second half as well. First half has this setting - SL=170 pips, TP=170 pips, BE+1 when the price reaches +100 pips. On GBPUSD the SL and TP is 200 pips.
Second half setting - SL=170 pips, TP=none (wait for the exit as per rules), BE+1 when the price reaches +100 pips.

Have not gotten to the above yet, still learning, and still watching the daily charts, I am VERY cautious, I use trend lines becuase they can be a very powerful tool, and in most times undertilized. When I see something I question it, it helps me learn! As per the #4 rule, Im assumihg BE is break even ?

This is what I observed! I plan on trying this out nextweek, the only thing I have going for me is that I am a stay home Dad, this allows me to do this 8hrs+ a day during the week! Trust me I take screenshots of every trade I make, why it went good, why it went bad, where are the major lines of resistance and spport, trend lines, funnd and tech analysis etc.

If I would of wanted to go long on the above trade, my trend lines and small line of resistance would of told me to stay out and see if the new daily candle could break the current trend line by closing above it or break the resistance line! Just my thoughts! Im trying to develope my own trading rules , I do like the fact that when price breaks above the 100MA then that is a good, strong sign of a nice up-trend developing!

Cheers!

Looking forward to putting this style of trading to the the charts next week!
Voodoo Economics.......
  • #165
  • Jul 15, 2011 12:42pm Jul 15, 2011 12:42pm
Quoting jcdollar
4) My money management (the key to success) - I risk 3% of my account. I open two trades, one is 1,5%, the second half as well. First half has this setting - SL=170 pips, TP=170 pips, BE+1 when the price reaches +100 pips. On GBPUSD the SL and TP is 200 pips.
Second half setting - SL=170 pips, TP=none (wait for the exit as per rules), BE+1 when the price reaches +100 pips.

Have not gotten to the above yet, still learning, and still watching the daily charts, I am VERY cautious, I use trend lines becuase they can be a very powerful tool,...
but if you didn't read the first post, you ask questions that are answered there... so read it first, then look at the charts...

BE=break even
SL=stop loss
Live it or leave it!
  • #166
  • Jul 15, 2011 1:08pm Jul 15, 2011 1:08pm
Thanks! I have it saved I will read it and apply to your past charts to see how it all works out! Can't wait till next weeks charts!
Voodoo Economics.......
  • #167
  • Jul 18, 2011 1:38am Jul 18, 2011 1:38am
gbd-cad
i go short at 1.54073, fast stoch cross slow stoch.
Signal is under ema 100.
  • #168
  • Edited 4:17am Jul 18, 2011 4:11am | Edited 4:17am
Quoting stevebalmmer
gbd-cad
i go short at 1.54073, fast stoch cross slow stoch.
Signal is under ema 100.
The cross is just taking place on my charts - making tonight the ideal entry time for me. good luck on it though. Well spotted

Olu
Attached Image
If you think you can or cannot do it you are correct
  • #169
  • Jul 18, 2011 4:19am Jul 18, 2011 4:19am
hello olu!
i hope the pair go down.
  • #170
  • Jul 18, 2011 4:20am Jul 18, 2011 4:20am
Quoting Olu
The cross is just taking place on my charts - making tonight the ideal entry time for me. good luck on it though. Well spotted

Olu

Exactly, on mine charts the same... have to wait for tonight. But I dont trade this pair anyway, but might consider it
Live it or leave it!
  • #171
  • Jul 18, 2011 4:24am Jul 18, 2011 4:24am
This is to show how my exit can look like... waiting for tonight
Attached Image (click to enlarge)
Click to Enlarge Name: au.png Size: 31 KB
Live it or leave it!
  • #172
  • Jul 18, 2011 4:28am Jul 18, 2011 4:28am
hello slurpee!
I had got something too early into the pair.
  • #173
  • Edited 4:31pm Jul 18, 2011 2:21pm | Edited 4:31pm
We'll probably be getting a cross the GBPUSD tonight also... But the signal will not be valid until tomorrows close...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 18 july.gif Size: 34 KB
  • #174
  • Jul 18, 2011 4:20pm Jul 18, 2011 4:20pm
The AUDUSD fast Stoch line has just finished the day under level 60 so I closed my trade at -122 pips. This type of exit gets me out earlier then my SL is...

I am not entering the GU yet... see the picture for my reason
Attached Image (click to enlarge)
Click to Enlarge Name: gu.png Size: 191 KB
Live it or leave it!
  • #175
  • Jul 18, 2011 4:30pm Jul 18, 2011 4:30pm
Quoting Slurpee
The AUDUSD fast Stoch line has just finished the day under level 60 so I closed my trade at -122 pips. This type of exit gets me out earlier then my SL is...

I am not entering the GU yet... see the picture for my reason
You are correct Slurpee, I will stop posting those early charts to avoid confusion...
  • #176
  • Jul 18, 2011 4:32pm Jul 18, 2011 4:32pm
Quoting DaTrader
You are correct Slurpee, I will stop posting those early charts to avoid confusion...

DaTrader, don't worry, it helps all to learn... keep posting your charts!
Live it or leave it!
  • #177
  • Jul 18, 2011 5:04pm Jul 18, 2011 5:04pm
Quoting Slurpee
The AUDUSD fast Stoch line has just finished the day under level 60 so I closed my trade at -122 pips. This type of exit gets me out earlier then my SL is...

I am not entering the GU yet... see the picture for my reason
This is my data...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Short.jpg Size: 153 KB
  • #178
  • Jul 19, 2011 2:07am Jul 19, 2011 2:07am
Quoting stevebalmmer
gbd-cad
i go short at 1.54073, fast stoch cross slow stoch.
Signal is under ema 100.
Its going down....Well done. Its now all about maintaining the trade

Olu
If you think you can or cannot do it you are correct
  • #179
  • Jul 19, 2011 2:10am Jul 19, 2011 2:10am
lease keep on posting. Early or not. The purpose of this thread is to know the method 'cold' and be able to see whether there is a profitable trade or not at a glance in a reflex manner. And then profit from it

Keep on posting. We are all learning here

Olu
If you think you can or cannot do it you are correct
  • #180
  • Jul 19, 2011 8:21am Jul 19, 2011 8:21am
Quoting stevebalmmer
gbd-cad
i go short at 1.54073, fast stoch cross slow stoch.
Signal is under ema 100.
Well done on this trade SB

Olu
If you think you can or cannot do it you are correct
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