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High velocity trading

  • #521
  • Sep 27, 2011 8:47am Sep 27, 2011 8:47am
GU quick lesson in applying ADR.

Today's low was 5525. GU ADR is 135. 5525 + 135 = 5660.

So that's pretty much an area to look to take profits. Yes, sometimes it can do two times the ADR, but most frequently it won't. We need the probability to be on our side and we don't want to challenge the markets.

Take what's given and comeback tmrw.
  • #522
  • Sep 27, 2011 8:51am Sep 27, 2011 8:51am
Quoting ruffryders
GU quick lesson in applying ADR.

Today's low was 5525. GU ADR is 135. 5525 + 135 = 5660.

So that's pretty much an area to look to take profits. Yes, sometimes it can do two times the ADR, but most frequently it won't. We need the probability to be on our side and we don't want to challenge the markets.

Take what's given and comeback tmrw.
Sometime the simplest is simply the best! I saved this lesson.
But what is ADR ?
  • #523
  • Sep 27, 2011 8:56am Sep 27, 2011 8:56am
Quoting BlackTexto
Wow....something very weird and i need to have your opinion on this one RR! I had this exact position and i just found something very weird.

First, you posted later that your position was still running...have you changed your SL ? If not...this is very special story i have to say because my SL (1615) got hit and it closed my trade.

I was a bit surprise to read later that your position was in profit and you closed it at 1645.

Then i analyse if GOLD relly hit below 1615. In the platform with real money...i see that the lower price of gold...
Yeah you do have to adjust SL and/or reenter sometimes. This time around it was 30 cents below my suggested SL. Price did in fact touch 1614.60 on my platform, but I didn't adjust SL and reentered, once M30 closed green indicating a reversal.

Generally the idea here is that I can't provide pin point entries, I did post a chart with clear explanation of the trading strategy.

And then I posted a more-than profitable re-entry. What more can you expect seriously? I'm not a signal service provider and actually trade my own accounts, so with all due respect I leave the responsibility of managing your trades to yourself.

I think that's only fair.
  • #524
  • Sep 27, 2011 8:57am Sep 27, 2011 8:57am
ADR is average daily range.
  • #525
  • Sep 27, 2011 8:59am Sep 27, 2011 8:59am
Did anyone take the AUD USD LONGs, as suggested previously? Running in the green right now.
  • #526
  • Sep 27, 2011 9:04am Sep 27, 2011 9:04am
hello RR.
You make the trades very good.I will learning more from you.
you stay a lot of time in Forexfactory.This is good of me.Never all trades are Winners.Thats the game.
  • #527
  • Sep 27, 2011 9:10am Sep 27, 2011 9:10am
Quoting ruffryders
http://img853.imageshack.us/img853/9...h124092011.png

Let's review EU H1 chart.

Suggested gameplan - LONG BUY from 3540-3550 for TP @ 3680. Then SHORT sell from 3680-3700 TP @ 3500. Use 25 as SL.
This was also a 100+ pips trade, if anyone took it with a very low risk (if any at all). I didn't take it, cause was busy with GOLD and GJ trades.
  • #528
  • Sep 27, 2011 9:11am Sep 27, 2011 9:11am
Quoting ruffryders
This was also a 100+ pips trade, if anyone took it with a very low risk (if any at all). I didn't take it, cause was busy with GOLD and GJ trades.
Are you short on this one now ?
  • #529
  • Sep 27, 2011 9:16am Sep 27, 2011 9:16am
Quoting BlackTexto
Are you short on this one now ?
NO, cause I want to see 60-80 area tested first and then monitor M30 candles for potential reversal signs.

Right now it's still early to tell.
  • #530
  • Sep 27, 2011 9:30am Sep 27, 2011 9:30am
Quoting danc
Dragon .. like a sky rocket... Taken the money and off to bed.... Chaek the Cable ..SHI trend line break..
BlackTexto where were you when GJ dragon broke out? Me and Dan made away with good pips. You were probably sleeping or something.

Anyhow, GJ was a very decent trade setup (TP break @ WP).
This is a text-book classic.
  • #531
  • Sep 27, 2011 9:42am Sep 27, 2011 9:42am
Quoting ruffryders
Did anyone take the AUD USD LONGs, as suggested previously? Running in the green right now.
Do you still hold this one ?
  • #532
  • Sep 27, 2011 9:45am Sep 27, 2011 9:45am
Quoting BlackTexto
Do you still hold this one ?
yes cause it broke the weekly pivot with M30 green candle.
  • #533
  • Sep 27, 2011 9:47am Sep 27, 2011 9:47am
Quoting ruffryders
yes cause it broke the weekly pivot with M30 green candle.
Ok, i hold this one too. If you close it because you see a reversal. It will be great if you share this information! haha Im still trying to learn how to dectect a reversal.

Thank you RR.

Nice new wheels btw!!
  • #534
  • Sep 27, 2011 9:48am Sep 27, 2011 9:48am
Quoting ruffryders
http://img638.imageshack.us/img638/7...h427092011.png

Dan here's the CAD H4. Here's why I don't like it. Cause PA is supported by TL and range bottom. I want to see PA clearing this line and once M30 candle is below this area + might come a retest and sup become rest - this time around you know it's a good short!
Also AU long is still on, cause UCAD cleared the line on the chart, which I posted previously!
  • #535
  • Sep 27, 2011 9:49am Sep 27, 2011 9:49am
i trade this too,
and gbd-usd long
xau-usd long
Quoting BlackTexto
Do you still hold this one ?
  • #536
  • Sep 27, 2011 9:50am Sep 27, 2011 9:50am
UCAD updated chart. Line was broken. That was a valid short sell signal actually, but proper short entry was way before this.

http://img716.imageshack.us/img716/2...te27092011.png
  • #537
  • Sep 27, 2011 9:56am Sep 27, 2011 9:56am
Quoting BlackTexto
Ok, i hold this one too. If you close it because you see a reversal. It will be great if you share this information! haha Im still trying to learn how to dectect a reversal.

Thank you RR.

Nice new wheels btw!!
1.0000 will be a good level to get out on AU.

Detecting reversals is not tough. Just look for long wicks @ important S/R levels.

Wheels are great for sure ... I will post some photos soon time, how that setups looks in real life.
  • #538
  • Sep 27, 2011 10:02am Sep 27, 2011 10:02am
we wait at the pictures
  • #539
  • Sep 27, 2011 10:03am Sep 27, 2011 10:03am
Also Thursday I'm travelling (flying out of town) so won't be able to post any updates guys.
  • #540
  • Sep 27, 2011 10:12am Sep 27, 2011 10:12am
hmmmm still looks like GOLD is gonna go down to 1618. I will try small short order 1646-48 area. Will use a tight SL and probably if stopped won't reenter.
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