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On My Way To The Top

  • #521
  • Sep 2, 2011 3:20pm Sep 2, 2011 3:20pm
If two trades occur around the same time than I am opening multiple positions and not requiring one to be closed before opening another...and by the way you can just call me paul...
No man is free who is not a master of himself. -P.M.-
  • #522
  • Sep 5, 2011 7:19pm Sep 5, 2011 7:19pm
I have been following this thread for a number of months and this month will be my litmus test to see if I have what it takes to make it in the forex business. Thanks to you, I think I have a pretty good shot.

My first trade was a sell on the usdchf. I got in based on the rules of your first post. Unfortunately, my biggest problem is over analyzing things and I made the decision to get out at 6 pips. The second trade was a bsb or bringing sexy back trade. Once again I over analyzed and got out at 2 pips, this was to my benefit has the trade did not work out. I then sold the usdchf, bought usdcad and sold eurgbp based on your first post. Net for today is around 6%.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdchf sell 2.gif Size: 42 KB
Click to Enlarge Name: usdcad buy.gif Size: 40 KB
Click to Enlarge Name: eurgbp sell.gif Size: 43 KB
Click to Enlarge Name: usdchf sell.gif Size: 42 KB
Click to Enlarge Name: eurusd buy.gif Size: 67 KB
  • #523
  • Edited 9:50pm Sep 5, 2011 9:38pm | Edited 9:50pm
Quoting K-Kay
My first trade was a sell on the usdchf. I got in based on the rules of your first post. Unfortunately, my biggest problem is over analyzing things and I made the decision to get out at 6 pips. The second trade was a bsb or bringing sexy back trade. Once again I over analyzed and got out at 2 pips, this was to my benefit has the trade did not work out. I then sold the usdchf, bought usdcad and sold eurgbp based on your first post. Net for today is around 6%.
hi K-Kay,

congratulation to your first post

BTW: as this is your first post: I'm not sure how you take your pictures but in case you take the screen shots manually: MT4 has an option to export charts to picture: under File.


I also skip through this thread at times.

Just a note for consideration from my side maybe it's helpful otherwise just forget it.

Glancing over your trading pics, I got the impression that the MTF Stoch are not always so supportive but I might be wrong not sure what pmullin86 would say.

e.g your first one trading pic: USDCHF SELL !! MTF STO
e.g. The same your 3 trade EURGBP SELL !! MTF STO

HAPPY TRADING TO YOU!


would be interested what pmullin86 himself has to say as he is the man
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp sell.gif Size: 17 KB
Attached Image
__Thanks__ MJ
  • #524
  • Sep 6, 2011 4:57am Sep 6, 2011 4:57am
Thanks for joining in here and contributing with your charts and such...it seems as though you took some pretty good entries per the rules and everything. One thing, for the bsb entry you took...it does check out as a proper bsb entry but you don't have the bsb stochastics on your chart for everyone to see...but good trading...keep it up and hopefully we will see you around here more.... Oh and on another note you should try not to over analyze as much and try to let the trades play out...
No man is free who is not a master of himself. -P.M.-
  • #525
  • Sep 6, 2011 5:12am Sep 6, 2011 5:12am
Quoting M_j
Glancing over your trading pics, I got the impression that the MTF Stoch are not always so supportive but I might be wrong not sure what pmullin86 would say.

e.g your first one trading pic: USDCHF SELL !! MTF STO
e.g. The same your 3 trade EURGBP SELL !! MTF STO

HAPPY TRADING TO YOU!


would be interested what pmullin86 himself has to say as he is the man
It appears the stochs do actually agree in those mentioned charts as using the last close of the hour as I do than it was closed pointed down along with the daily being down for both entries...so for the usd chf up until the close of the 9:55 candle the one hour is considered down but than at that 9:55 close than the last one hour close shifts to 9:00 instead of 8:00 and it would be invalid at that point for a short entry....and same thing for the eur gbp...but the only thing for the most part is how one usually manages the trade once entered as k-kay should have gotten at least two percent out of those two entries on the usd chf as the price did indeed drop and would have never touched the inital entries stop until 2:45 A.M. est...happy trading to all....

Paul
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usd chf.gif Size: 37 KB
Click to Enlarge Name: eur gbp.gif Size: 38 KB
No man is free who is not a master of himself. -P.M.-
  • #526
  • Sep 6, 2011 8:08am Sep 6, 2011 8:08am
Quoting pmullin86
It appears the stochs do actually agree in those mentioned charts as using the last close of the hour as I do than it was closed pointed down along with the daily being down for both entries...so for the usd chf up until the close of the 9:55 candle the one hour is considered down but than at that 9:55 close than the last one hour close shifts to 9:00 instead of 8:00 and it would be invalid at that point for a short entry....

Paul
Thanks a lot pmullin86: Yes the closed candle stuff

Anyway: k-kay sorry for my wrong comments above.
__Thanks__ MJ
  • #527
  • Sep 6, 2011 8:37am Sep 6, 2011 8:37am
No worries mj
No man is free who is not a master of himself. -P.M.-
  • #528
  • Sep 7, 2011 4:59pm Sep 7, 2011 4:59pm
First trade of the day was a countertrend trade or CTT for short. There was a rejection at the pivot point and the 1hr 30 15 and 5 min stochastics were pointing down. The trade netted 2%. Second trade was a bringing sexy back with the stochastics, on the last window, being aligned. I also liked it because of a lower low and price coming up to the previous rejection point of the CTT trade.

The eurjpy sells follows the rules found on the first post of the thread. Net gain for today was 2%.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurgbp sell.jpg Size: 222 KB
Click to Enlarge Name: eurjpy sell.jpg Size: 209 KB
  • #529
  • Sep 8, 2011 8:49am Sep 8, 2011 8:49am
Quoting K-Kay
First trade of the day was a countertrend trade or CTT for short. There was a rejection at the pivot point and the 1hr 30 15 and 5 min stochastics were pointing down. The trade netted 2%. Second trade was a bringing sexy back with the stochastics, on the last window, being aligned. I also liked it because of a lower low and price coming up to the previous rejection point of the CTT trade.

The eurjpy sells follows the rules found on the first post of the thread. Net gain for today was 2%.
Good trading...keep it up...these snap shots are a lot clearer and easier to see...

Thanks

Paul
No man is free who is not a master of himself. -P.M.-
  • #530
  • Sep 8, 2011 9:02am Sep 8, 2011 9:02am
Yesterday tried out the thirty minute and took three losses but gained a realization of the proper way the thirty minute needs to be traded if one should choose to do so...and from that lesson yesterday I was able to take some pretty decent trades today off the thirty minute but here are the trades from yesterday for a total of -6% all taken off the thirty minute charts...on the aud usd I entered a bit too early but still would have been a loss either way...from what I noticed the 4 hour stochastic greatly affects the price on the thirty minute so as opposed to using the daily for the trend as I was doing in these trades...one should instead look to the four hour...so in these snap shots anyone can clearly see how the four hour going up is stopping the price from dropping as per the daily trend...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aud usd short 09 07 2011.gif Size: 37 KB
Click to Enlarge Name: nzd usd 09 07 2011.gif Size: 36 KB
No man is free who is not a master of himself. -P.M.-
  • #531
  • Sep 8, 2011 11:18am Sep 8, 2011 11:18am
....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur jpy sell 30 minute entry 09 08 2011.gif Size: 40 KB
Click to Enlarge Name: eur usd short 30 minute 09 08 2011.gif Size: 43 KB
Click to Enlarge Name: aud usd short 09 08 2011.gif Size: 43 KB
Click to Enlarge Name: eur usd short 09 08 2011.gif Size: 38 KB
Click to Enlarge Name: eur gbp sell 09 08 2011.gif Size: 37 KB
Click to Enlarge Name: nzd usd buy 09 08 2011.gif Size: 39 KB
Click to Enlarge Name: gbp usd 09 08 2011.gif Size: 38 KB
No man is free who is not a master of himself. -P.M.-
  • #532
  • Sep 8, 2011 11:22am Sep 8, 2011 11:22am
...BSB type entry
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd 09 08 2011.gif Size: 38 KB
No man is free who is not a master of himself. -P.M.-
  • #533
  • Sep 8, 2011 11:23am Sep 8, 2011 11:23am
hmmm..wondering if the thirty minute entries should be limited to the daily and four hour moving together or just the four hour....hmmm question mark...
No man is free who is not a master of himself. -P.M.-
  • #534
  • Sep 8, 2011 11:23am Sep 8, 2011 11:23am
how much do you risk per trade?

In case you enter two or more simultaneous trades do you spit the whole risk?
__Thanks__ MJ
  • #535
  • Sep 8, 2011 11:28am Sep 8, 2011 11:28am
Quoting M_j
how much do you risk per trade?

In case you enter two or more simultaneous trades do you spit the whole risk?
Yes I do especially since I'm just experimenting now with taking an entry on a higher time frame and adding to the position from the smaller time frame...but it was still cutting it very close...
No man is free who is not a master of himself. -P.M.-
  • #536
  • Edited 6:37am Sep 9, 2011 5:05am | Edited 6:37am
two buys on the usd cad for total of 6%...I'm not pleased with the fact that I missed the nice entry short on the AUD USD which would have given about 6% locked in profits but so it goes I suppose...

Paul
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 51 KB
Click to Enlarge Name: aud missed.gif Size: 46 KB
No man is free who is not a master of himself. -P.M.-
  • #537
  • Sep 9, 2011 5:10am Sep 9, 2011 5:10am
A pretty good week this week has been but its Friday so I'm going to close up shop now and start my weekend...
No man is free who is not a master of himself. -P.M.-
  • #538
  • Sep 9, 2011 6:58am Sep 9, 2011 6:58am
Saw this nzd usd entry setting up but didnt take it....no reason for that but just simply hesitation on my part for whatever reason and as a result I missed out on another rounabout 12 percent this trade would have given with locking in 1:6 risk reward ratio since it went up about 1:7 so the 1:6 would be locked in...and eur usd and gbp usd dropped clearly but gave me no entry signals since 4 hour and 1 hour and other stochastics never lined up but its cool...so while I ended the day with only 6 percent should have had about 18 percent in addition to that...sigh...
Attached Image (click to enlarge)
Click to Enlarge Name: nzd usd entry 30 minute.gif Size: 51 KB
No man is free who is not a master of himself. -P.M.-
  • #539
  • Sep 9, 2011 11:18am Sep 9, 2011 11:18am
What about the MA stuck?


Quoting pmullin86
Saw this nzd usd entry setting up but didnt take it....no reason for that but just simply hesitation on my part for whatever reason and as a result I missed out on another rounabout 12 percent this trade would have given with locking in 1:6 risk reward ratio since it went up about 1:7 so the 1:6 would be locked in...and eur usd and gbp usd dropped clearly but gave me no entry signals since 4 hour and 1 hour and other stochastics never lined up but its cool...so while I ended the day with only 6 percent should have had about 18 percent in addition...
__Thanks__ MJ
  • #540
  • Edited 11:51am Sep 9, 2011 11:29am | Edited 11:51am
On the thirty minute so far I'm leaning towards the ma doesn't have to be stacked as it would be trading in the direction of the 4hour and daily so alot of momentum but that only applies to the thirty minute and not fifteen or five since thirty swings in line with four hour and daily should get in with trend and avoid many of the whipsaws of the smaller time frames...still forward testing the thirty though...but the ma stack or not stacked is what caused my hesitation as still observing...
Quoting M_j
What about the MA stuck?
No man is free who is not a master of himself. -P.M.-
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