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Make Money Everyday - A Guide to Short-Term Trading

  • #701
  • Sep 9, 2011 10:00am Sep 9, 2011 10:00am
Hope you guys are cashed up after tonight! Finally some movement and boy do I love a good short (mainly because it's easier to calculate my stops).. Shame I was standing in a bar singing to the riff raff.
Got home just in time to catch a few lil moves.
London open looked like it was moving yet a tad sloppy on the levels tonight, but some heavenly textbook moves at NY open.

EDIT- OK just checked my account history and my other chart was wrong.. Had two more trades, I must be tired.
Attached Image (click to enlarge)
Click to Enlarge Name: ec 09-09-11 london open 1m closer.gif Size: 17 KB
  • #702
  • Sep 9, 2011 9:49pm Sep 9, 2011 9:49pm
Mong question.. Is it just me or are there still trades to be had on the EC? Seems to still be respecting the levels, and there's pretty much a defined range to play between.
  • #703
  • Sep 11, 2011 5:13am Sep 11, 2011 5:13am
Quoting enochben
No problemo! But if you look at my last screenshot you might notice that the indi's at the bottom don't line up with my trade. So use with caution.
Please note that when I click on the link at the bottom of your post nothing happens.

Regards
  • #704
  • Sep 11, 2011 8:30am Sep 11, 2011 8:30am
Quoting nhen
Mong question.. Is it just me or are there still trades to be had on the EC? Seems to still be respecting the levels, and there's pretty much a defined range to play between.
Yes.. The first day or so after the SNB's intervention - it was tough, but it looks like it has settled in a bit now.
  • #705
  • Sep 11, 2011 8:52am Sep 11, 2011 8:52am
Quoting mongolian
Yes.. The first day or so after the SNB's intervention - it was tough, but it looks like it has settled in a bit now.
Ok groovy I'll keep and eye on it.

Can I post something totally unrelated to trading but superb? Delete it if you're not cool with it -
Inserted Video
  • #706
  • Sep 12, 2011 5:42am Sep 12, 2011 5:42am
Haven't had one of these in awhile.. thought I may as well post for the learning experience. Sloppy PA but many a mistake on my part..

1- As says on chart, terrible slippage thanks to my broker. Could have widened stop but as lot size was already in didn't want to do that. Was actually filled at 1.3570 when executed at 1.3575. Missed good trade, bummer.

2- Shouldn't have shorted as bottom of lil range we were in.

3- Short OK.

4- Too hasty with long here I think, should have waited for confirmation that level would hold.

5- Could have longed here but didn't in heat of moment.

6- 1.3512 = Wrong move too early.

7- Would have been OK but tight stop/sloppy PA hurt me here.

8- I think price action telling me here it had no more steam. Looks very similar to PA at 1.6000 and it continued long, but I think I can see the subtle differences.

Sorry for ramble, just trying to run my thought processes.
Anything ya'll see to turn this night profitable?

Thanks!
Attached Image (click to enlarge)
Click to Enlarge Name: ec 12-09-11 london open.gif Size: 20 KB
  • #707
  • Sep 12, 2011 7:58am Sep 12, 2011 7:58am
Good News: I bought a house this week.
Bad News: I bought a house this week.

I'm going to be a tad bit busy for at least the rest of the week. I don't know how much I will be around, just wanted to give whoever may care a heads-up. Hopefully everyone has a profitable week. Off to painting I go...

Mongolian
  • #708
  • Sep 12, 2011 11:46pm Sep 12, 2011 11:46pm
Quoting mongolian
Good News: I bought a house this week.
Bad News: I bought a house this week.

I'm going to be a tad bit busy for at least the rest of the week. I don't know how much I will be around, just wanted to give whoever may care a heads-up. Hopefully everyone has a profitable week. Off to painting I go...

Mongolian
Congrats on the house mate, hope the move and painting aren't too painful!
  • #709
  • Sep 13, 2011 12:21am Sep 13, 2011 12:21am
Quoting nhen
Haven't had one of these in awhile..
OK for mainly my own amusement and progress here is how I could have turned last night into a profitable night, and quite easily too.
I think I will look back at these charts in a year and wonder how I was ever such a gumby

Main points I'm still missing:

-Getting in too early, wait for price to retrace after 'bigger' moves up and let price unfold and reveal setups. No need to try and catch every move.
The trick with that for me is not worrying about 'missing out'.

-Tied to first one.. When price breaks through a QTR let it find S/R there or not before jumping in on trade. Especially when against current ST trend. Also watch PA for clues as to rejection of break.

-Don't let a few stops in a row get to you, sometimes PA is sloppy. Trust that once it breaks out of the slop there will be opportunities. Be sure not to get antsy when price breaks and force trade, be patient and wait for them to unfold.

OK that's enough out of me.
Attached Image (click to enlarge)
Click to Enlarge Name: ec 12-09-11 notes on nights chart 1m.gif Size: 29 KB
  • #710
  • Sep 15, 2011 8:28am Sep 15, 2011 8:28am
Anybody trading this madness?
  • #711
  • Sep 15, 2011 8:36am Sep 15, 2011 8:36am
Quoting enochben
Anybody trading this madness?
Nuh mate, just got home to trade and watched it take off. Too volatile for me, not experienced enough yet, I get nervy and trade poorly

Are you in?
  • #712
  • Sep 15, 2011 8:47am Sep 15, 2011 8:47am
Quoting nhen

Are you in?
NO WAY! I have been cut before trying to juggle razor blades! I stay away from parabolic moves. The euro went up almost 200 pips in 10-15 minutes - INSANE!
  • #713
  • Sep 15, 2011 8:57am Sep 15, 2011 8:57am
Quoting enochben
NO WAY! I have been cut before trying to juggle razor blades! I stay away from parabolic moves. The euro went up almost 200 pips in 10-15 minutes - INSANE!


I learnt my lesson with volatility on the EC before the SNB pegged it.

Meanwhile, don't you love it when you take a limit order off (blue arrow) because you think you see a 'W' forming signaling maybe no lower right at this moment.. only to watch it hit your PT, then make a 'W' and flop about at the QTR and move above.
Sometimes this PA thing can be elusive, if it had turned and gone above where I had my order I would have said 'Good move taking it off'

EDIT - updated chart
Attached Image (click to enlarge)
Click to Enlarge Name: bastards.png Size: 54 KB
  • #714
  • Sep 15, 2011 9:04am Sep 15, 2011 9:04am
might just focus on oil today - the quarter levels work pretty well with oil too!
  • #715
  • Sep 15, 2011 9:05am Sep 15, 2011 9:05am
Quoting enochben
might just focus on oil today - the quarter levels work pretty well with oil too!
Right on, might make up my charts this weekend. Trade well!
  • #716
  • Sep 15, 2011 1:32pm Sep 15, 2011 1:32pm
oil with quarter/mid levels if anybody is interested:

Attached Image (click to enlarge)
Click to Enlarge Name: Snapz125.png Size: 143 KB


the spread on oil is 5 pips. i have found 20 pips is enough to know you are wrong and then give 5 for the spread so it comes out to a risk of 25 pips. Need to get at least 50 pips out of the trade to make it worth the stress i endure.

As you can see i had as much as 88 pips - i was shooting for 100 (repeat - don't be a dick for a pip - or in this case 11 pips) - eventually got out with 53.
  • #717
  • Sep 16, 2011 1:07am Sep 16, 2011 1:07am
Quoting enochben
oil with quarter/mid levels if anybody is interested:

Attachment

..repeat - don't be a dick for a pip - or in this case 11 pips) - eventually got out with 53.


Nice cheers for that, what other reasons did you have for entering at your entry point?
  • #718
  • Sep 16, 2011 7:05am Sep 16, 2011 7:05am
Quoting nhen


Nice cheers for that, what other reasons did you have for entering at your entry point?
ahhhh! your started to get to know me
.... yes there was confluence with 4 hr pivots and 2nd standard deviation on 5 minute chart.
  • #719
  • Sep 16, 2011 7:08am Sep 16, 2011 7:08am
Euro is moving today and I am not prepared...
  • #720
  • Sep 16, 2011 7:18am Sep 16, 2011 7:18am
Quoting enochben
ahhhh! your started to get to know me
.... yes there was confluence with 4 hr pivots and 2nd standard deviation on 5 minute chart.
Four hour pivots hey.. Interesting.

As for the euro moving I'm stuck at my Friday gig and wishing I was home at the charts. Might be home in time for NY..
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