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Nearly Naked (Simple Trades)

  • #10,101
  • Aug 22, 2011 11:18am Aug 22, 2011 11:18am
Hopefully ECAD doesnt putter out into a consolidation or a long distribution and we get some sort of break
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  • #10,102
  • Aug 22, 2011 11:20am Aug 22, 2011 11:20am
EG at UTL, looking for a break and into medium friction PPZ
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  • #10,103
  • Aug 22, 2011 11:23am Aug 22, 2011 11:23am
Quoting halkins
Wow...
It was a nasty roller coaster today.
I was stopped out once above 1.1370 but jumped in again with wider stop-loss and survived.
I closed my position at 1.1300 because I can’t see any mid-trend established so far.
It’s still moving sideways so it’s better to leave before my profits turns into SL ;-)))
No big deal today... but life goes on.
No worries
ya, it seems that a few pairs are going to end up sideways with a slow distribution. Sucks for us, but might be good for the market to finally calm down after the last few volatile weeks.
  • #10,104
  • Aug 22, 2011 11:36am Aug 22, 2011 11:36am
Quoting Saxon
No worries
ya, it seems that a few pairs are going to end up sideways with a slow distribution. Sucks for us, but might be good for the market to finally calm down after the last few volatile weeks.
Hi Saxon
I am testing now a new technique called "STOP-LOSS HUNTING" and it seems to be a perfect time now for this job.
Worked out well few times for me, but I still not sure if that was a bit of luck or it's really worth of attention...
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  • #10,105
  • Aug 22, 2011 11:47am Aug 22, 2011 11:47am
Quoting Saxon
Hopefully ECAD doesnt putter out into a consolidation or a long distribution and we get some sort of break
Saxon, just want to make it sure...
With EURCAD, are you waiting for a price to break its high @ 1.4250 and move north or you see it bounce down @ 1.4250 ???
I've been watching this pair. I think it still has some space above and will try to break ceiling to close it previous high 100 pips further north at 1.4350
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  • #10,106
  • Aug 22, 2011 11:49am Aug 22, 2011 11:49am
Just be weary of trying something without testing it first. Also, stop-loss hunting would require you to control billions of dollars right. You would have to move the market on your own, past an obvious SR, and take our retail Stops.
My advice, just trade the obvious. Simple charts, with high prob PPZ and SR. You may only get 1 trade every week on a pair, but if you trade 10 pairs, and that trade is high-prob with a 100 pip gain, then that is quite a good score for one week. Also, if you trade more high-prob, you can afford larger SLs and you wont get Stop-Hunted by the big guys and can ride their wave back into the green. Patience and Simple charts is where it's at
  • #10,107
  • Aug 22, 2011 11:50am Aug 22, 2011 11:50am
Quoting Saxon
UCAD at SR. Might be good for a few
Success ! That was good for a quick 20
  • #10,108
  • Aug 22, 2011 11:52am Aug 22, 2011 11:52am
Quoting halkins
Saxon, just want to make it sure...
With EURCAD, are you waiting for a price to break its high @ 1.4250 and move north or you see it bounce down @ 1.4250 ???
I've been watching this pair. I think it still has some space above and will try to break ceiling to close it previous high 100 pips further north at 1.4350
Break either way. If it breaks north, I want to see weekly fib 38 at roughly 1.438 or break south to 1.4 for a quick few, then further south to confluence at fib 50 at roughly 1.384
  • #10,109
  • Aug 22, 2011 11:54am Aug 22, 2011 11:54am
Quoting Saxon
Break either way. If it breaks north, I want to see weekly fib 38 at roughly 1.438 or break south to 1.4 for a quick few, then further south to confluence at fib 50 at roughly 1.384
Here they are highlighted.
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  • #10,110
  • Aug 22, 2011 11:55am Aug 22, 2011 11:55am
Quoting Saxon
Here they are highlighted.
Im going to drop that stop down on that buy-limit and extend the TP
  • #10,111
  • Aug 22, 2011 12:20pm Aug 22, 2011 12:20pm
Quoting Saxon
Just be weary of trying something without testing it first. Also, stop-loss hunting would require you to control billions of dollars right. You would have to move the market on your own, past an obvious SR, and take our retail Stops.
Saxon, have a look if you have a minute or two...

Just a brief basic description…
All we know that above/below support&resistance lines traders used to place their stop loss orders.
When price gets into this area (let’s name it „Mines Field) a chain reaction is triggered executing their orders one after another and this way a long and dynamic candle is promptly created. That's what we use as our space ship.
We place our order right in the “Mines Field” zone, just like a stop-loss order, certainly without any position opened at the time. And we wait…
If price gets into “Mine Field” zone it goes like a rocket, like a domino, it quickly opens my position and close it 10, 20 pips further.
Profits are made quickly… in about 10-20 minutes…
It works better after boring long consolidation periods etc...

Sure… I know it requires a thorough testing. No question asked.
Below is an example of my EURCHF trade last week...

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  • #10,112
  • Aug 22, 2011 5:54pm Aug 22, 2011 5:54pm
As you can see on 2H chart the Triangle/ Flag formation (whatever is that called) in nearly completed.
It’s getting narrower.
There’s a little space left for maybe two, three candle bars (about 6 hours left ) so probably we’ll see a turnover before London market starts.
It happened before that CHF made some strange movements an hour or two before London’s bell.

Well, I have no bloody idea of where the formation will break, but when I look on entire picture I can see some fcking dinosaur or pterodactyl…
Ha ha, does anybody know what that means?

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  • #10,113
  • Edited 8:51am Aug 23, 2011 8:35am | Edited 8:51am
Hi Traders...
Couldn't find any exciting and interesting trade today.
I got into only one, but not much convinced - EURNZD
Entry @ 1.7335, SL somwhere below 1.7320...
I hope it'll bounce back north to touch 1.7600, so about 1.50% profits possible.
I'm in... we'll see
For me good risk-reward ratio.

UPDATE: 2:50pm (London)
Oooopps... Stopped out... ;-(
I'll give it one more chance maybe.

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  • #10,114
  • Aug 23, 2011 8:44am Aug 23, 2011 8:44am
Quoting Saxon
EG at UTL, looking for a break and into medium friction PPZ
To the Pip
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  • #10,115
  • Aug 23, 2011 9:14am Aug 23, 2011 9:14am
Anyone trade that data. It was a nice delay from the release before the market started moving. Kept speads low and got in before the move. Traded AU and EU. Out now
  • #10,116
  • Aug 23, 2011 8:58pm Aug 23, 2011 8:58pm
Here is the Bookie Report for the rest of the week.
See attached.
Again, if you would like this auto-sent to you on Sunday and Tuesday nights, please send an email to [email protected]
Attached File(s)
File Type: pdf AUG 23 Bookie Report.pdf   569 KB | 349 downloads
  • #10,117
  • Aug 24, 2011 5:39am Aug 24, 2011 5:39am
We are on the edge (1.1400 - 1.1390 area) now with EURCHF.
It has built a small uptrend channel and now hesitating which way to go...
Two scenarios available now:

Scenario 1:
It will defend it support area around 1.13900 and we'll see new highs today

Scenario 2
It will break 1.13900 to fall at least to the next support level @1.13000

I support first scenario as more likely to happen in next hours...

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  • #10,118
  • Aug 24, 2011 9:52am Aug 24, 2011 9:52am
Im off to the airport. Heading to Arizona for the weekend and holiday
Ill be back on Sunday to post the report again.
Good luck trading everyone, all the best
  • #10,119
  • Aug 24, 2011 9:58am Aug 24, 2011 9:58am
Enjoy Bro! Don't cause no Quakes & Hurricanes - Lol!
Been a bunch of Sardine trades for me recently. In bigger picture of things I think some instruments should blow in some direction soon.
Later Sax!
t


Quoting Saxon
Im off to the airport. Heading to Arizona for the weekend and holiday
Ill be back on Sunday to post the report again.
Good luck trading everyone, all the best
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #10,120
  • Aug 28, 2011 2:47pm Aug 28, 2011 2:47pm
I'm back. Cant believe i didnt get sunburnt. Actually, come to find out this is Sedona's "Monsoon" season. go figure. All I got was a cold. Here's to a week of good trading.
Music video for the week. One of my favorite bands came out with a new one. Gotta watch it in 720HD, best drummer in the world. Ill post the bookie report soon

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