Price is Everything Chat Room

Trading a breakout of a flag like that isn't such a bad thing.

my running trade.. entry wasnt that good as i waited for some confirmation...
already scaled out some at ard 13 and 15p..
took a loss long at the level above at pin against momentum, but well, got it back on this trade

Will check it out soon and post my own trades too

Thanks DB

Hope you read between the lines there.

Don't like the idea of trade calls anymore, for obvious reasons.

I had cut my long there in case of flag, and would've bought again on break

took it again after be on remaining position... this is what you get for crappy entry.. less room the wriggle

edit: added my exit chart... empty chart though, as diff pc as i was away from my usual pc... still need to work to perfect my entry n exits

keep up the good work guys.. have a good weekend ahead

Hi Emene,

That is a mucho strong level. I bet there are some big orders awaiting. Maybe that "hurray...all is fine in Europe" optimism will get us back there again.

gh

Me say, the Americans ought to pay their debts to China...

http://www.youtube.com/watch?v=V2PBVmCLfgg

Kenny, when you refer to locking a trade are you hedging or moving your S/L closer to the action?

hedging.. one buy one sell.. it may start with a buy or sell trade.. when there is an opportunity [some reasonable distance], rather than closing the trade i enter opposing trade of same value.. i'll try to explain it in bit more details on rtp thread on this weekend..

have many good ones.........

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edit: added some explanation about locking here, romancing the price (http://www.forexfactory.com/showthread.php?p=4963927#post4963927) thread

Hi Guys,
I am posting here after a while ....largely out of touch from trading and contributing here on Fxfactory (thanks to my day job) but I do read the the regular contributor here in order to keep up to date.

Recently I was reading Sam Seiden's article on Market Timing and I thought of posting this question to get some additional insights as to why the level above was considered a weak level.

ORIGINAL CHART and Mr Sieden's Comments:
This meant that we were expecting a 115 point drop to the first demand zone which was very big. To many people, this would seem extreme, but that is where our rules said the nearest demand was. There was a big cluster of trading at 1260 before our 1230 demand, but to us, that is not demand at all, though conventional technical analysis would say it is. The level just below that was started at 1206 and went all the way down to 1195. Needless to say, there was plenty of room for price to fall.

http://mediaserver.fxstreet.com/Repo...0809112051.gif

Here are my thoughts and a question as to why it could be a weak level:

http://img94.imageshack.us/img94/315...epros22011.gif (http://imageshack.us/photo/my-images/94/lessionfromthepros22011.gif/)

I'll appreciate some additional input from te veterans here to reinforce the S/D concepts.


ARTICLE LINK ON FX STREET.
http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros/2011/08/09/

Thanks in advance.

Thanks for the reply Ken. If you held those E/U shorts over the weekend you be pretty happy when you wakeup today! (ie without the locking you probably would have closed them.)

no hesitation, patience, KISS and execution

regards,
dboy

You got it right. Nicely done.

Short oil trade just alittle while ago.... Apologize for the cropped chart feature.

hi all, new to this style of trading and loving it. looking forward to learning more with everyone

trade i'm currently in, entered on pin in supply, half off in middle zone, leaving the rest to target lower demand. somewhat risky trade due to flagging below initial supply but felt it could break through

http://i55.tinypic.com/2pr901z.jpg

just missed this one

http://i56.tinypic.com/2a7tyyp.jpg

This is interesting to me. Why has he missed the trade?

Has he drawn the supply zone incorrectly? Is he waiting for too 'close' a hit to open a trade? Maybe he hasn't missed the trade at all. Perhaps price is coming back to the zone shortly.

Which do you guys think?

thanks guys... you all are my source of inspiration to work harder and further improve myself

Bonjour Master Yodas - Ifmyante, KennyZ, Orbital, frankkn...
oups forgot the frenchy Emme ;-)

I just wanted to share my 2 first PIE trades I managed to take this morning ... Well I hope it is the case.
I am willing to work hard to become a PIE Jedi.

All the best guys!