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  • #544,421
  • Sep 27, 2011 3:32pm Sep 27, 2011 3:32pm
Quoting Robertk
Yeah, that's why I'm so far only focusing on this pair. Nothing else.. Specializing in one pair knowing the in's and out's on that particular pair should give you at least some kind of edge I would think..(all news is reflected in PA tho) Yet I don't see how from a technical perspective it is any different from other pairs except for the daily piprange a pair moves in. I mean, they all have their supply and demand area interaction in the same way right? Yeah, I'm aware I'm contradicting myself a bit here

Edit: .35579 should provide a nice scalping...
I'm doing the same...exclusively eurusd now (sometimes gbpusd though).
I'm trying oil but i'm not so good at it...still need some practice to fully understand it .

Anyway you only need one pair to make money...no need to trade 20 pairs, been there done that and it ain't working for me.
Look on FF for a guy named Greg...he is trading exclusively gbpjpy..trying to make 100 pips a day (which is 10K lol)...his analysis and way of trading are great

Each pair has his own way of "walking" anyway, just follow it everyday and you'll know every steps
COT: The precious data ignored
  • #544,422
  • Edited 3:54pm Sep 27, 2011 3:36pm | Edited 3:54pm
Quoting vanyxster
always place buffer
Always do that on SL, levels candle high or low + avg spread + 2 to 3 pips wiggle room.

Been placing my entry tight up against the candle bodies and hitting fantastic entries where the trade only went 1 or 2 pips against and then took off but more and more it seems I'm missing a lot of great entries by 0.1-2.8 pips.

My stops have been pretty good so I'll leave them alone. Often if my stops are hit, the brakes failed completely on the speeding bus and she's headed for the next level.

I need to start tracking that and take a good look at increasing my entry risk pips about 3-5 pips away from the candle bodies to get in just ahead of the big money and pare down lot size a tad if needed to compensate to keep my account risk % the same and see how it affects my bottom line.
I don't care which way the market is going as long as it's going my way
  • #544,423
  • Sep 27, 2011 4:19pm Sep 27, 2011 4:19pm
  •  Vilgax
  • | Joined Aug 2010 | Status: Lack of money is root of most evil | 466 Posts
QUOTE=Robertk;4992770]Yeah, that's why I'm so far only focusing on this pair. Nothing else.. Specializing in one pair knowing the in's and out's on that particular pair should give you at least some kind of edge I would think..(all news is reflected in PA tho) Yet I don't see how....

Ditto also only focus on this pair. Feels like cheating when I look at others lol. But getting to know just this one inside out brings me a sense of comfort and familiarity which is much needed when trading as it helps with the stress. Sure some trades don't go your way but at least u can bounce back pretty quickly. I have tried some of the other faster and or more volatile pairs and its just too much out of my comfort zone. Kuedos to those who can hop in and out various pairs...
The forex market has its own life and takes its own time.
  • #544,424
  • Sep 27, 2011 4:24pm Sep 27, 2011 4:24pm
Markets are shaky in the time being.
  • #544,425
  • Sep 27, 2011 4:43pm Sep 27, 2011 4:43pm
Quoting PipKiller
Always do that on SL, levels candle high or low + avg spread + 2 to 3 pips wiggle room.

Been placing my entry tight up against the candle bodies and hitting fantastic entries where the trade only went 1 or 2 pips against and then took off but more and more it seems I'm missing a lot of great entries by 0.1-2.8 pips.

My stops have been pretty good so I'll leave them alone. Often if my stops are hit, the brakes failed completely on the speeding bus and she's headed for the next level.

I need to start tracking that and take a good...
take upper wicks when u sell & bottom wicks when u buy together with candle body where balance was off, for insurance ..dont worry about stop loss my buffer is sometimes bigger than level of interest usually 5 pips above the level + 1-2 pip buffer on open levels rarely exceed 27 pips usual range is 18 -25 & levels are from 30 mins, but rr is 10 x atleast ....& always closing half on 2 x level + buffer , rest on be
  • #544,426
  • Sep 27, 2011 5:03pm Sep 27, 2011 5:03pm
let it ride now
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  • #544,427
  • Sep 27, 2011 5:13pm Sep 27, 2011 5:13pm
Quoting thorr
let it ride now
OK
I have sell orders all the way to 34 level
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  • #544,428
  • Sep 27, 2011 5:24pm Sep 27, 2011 5:24pm
Quoting Forbes55
OK
I have sell orders all the way to 34 level
how many shorts u got in place?
  • #544,429
  • Sep 27, 2011 5:24pm Sep 27, 2011 5:24pm
3570 sup.
born to speculate
  • #544,430
  • Sep 27, 2011 5:37pm Sep 27, 2011 5:37pm
Quoting thorr
how many shorts u got in place?
from 3400, 3440, 3480, 3530 and 3600
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  • #544,431
  • Sep 27, 2011 5:40pm Sep 27, 2011 5:40pm
Inserted Video


Say It Like You Mean It B!tch
2:40
  • #544,432
  • Sep 27, 2011 5:43pm Sep 27, 2011 5:43pm
Quoting Forbes55
from 3400, 3440, 3480, 3530 and 3600
ok
when do u plan to exit if something goes wrong?
  • #544,433
  • Sep 27, 2011 5:47pm Sep 27, 2011 5:47pm
Quoting thorr
ok
when do u plan to exit if something goes wrong?
the above video said that european market will crash tomorrow or today so all goes according to your chart
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  • #544,434
  • Sep 27, 2011 5:48pm Sep 27, 2011 5:48pm
Quoting vanyxster
take upper wicks when u sell & bottom wicks when u buy together with candle body where balance was off, for insurance ..dont worry about stop loss my buffer is sometimes bigger than level of interest usually 5 pips above the level + 1-2 pip buffer on open levels rarely exceed 27 pips usual range is 18 -25 & levels are from 30 mins, but rr is 10 x atleast ....& always closing half on 2 x level + buffer , rest on be
That's pretty much what I'm doing and how I set my SL just might need to back off my entry a hair from being slam tight up against the bodies, that's where I've been missing a lot of trades lately.

I'm all in and all out, never been a big fan of taking a portion and letting the rest run. To be quite honest I'm 47 retired and have waaaaaaaaaay too much time on my hands. I have a hard time sitting on my hands that long which is why I mostly trade intraday and not swing or long term position. Scalping isn't worth it to me but intraday keeps me busy enough runing through my checklist, planning trades, checking charts and making entries in my journal to keep me from jumping all over the place like a lot of the gamblers do.

I move SL to BE at 2x and let it run to TP. On trades with more than 3x I'll often follow it with moving stops to technical S/D levels as she runs toward TP..... or follow it with moving stop along median line on Bollenger bans if she goes parabolic.

SL is usually 15-25 pips on average 30 pips max or I look for something else. I generally trade intraday with a minimum rr 3:1 or higher looking for levels on the 15, 30 and 60 min chart keeping an eye on the weekly, daily and 240.

I'll take a nice swing off the 240 and daily when I see a nice opportunity.
I don't care which way the market is going as long as it's going my way
  • #544,435
  • Sep 27, 2011 5:53pm Sep 27, 2011 5:53pm
Quoting Forbes55
the above video said that european market will crash tomorrow or today so all goes according to your chart
hahahahah ok
that would be nice but lets see
i saw that video yesterday lol no comment
  • #544,436
  • Sep 27, 2011 5:53pm Sep 27, 2011 5:53pm
Was the BBC's trader from hell one big hoax? Claims greedy dealer praying for a recession in which to get rich was a FAKE


Read more: http://www.dailymail.co.uk/news/arti...#ixzz1ZCE1JjBc

  • #544,437
  • Sep 27, 2011 6:01pm Sep 27, 2011 6:01pm
personally still focus on long...
the levels for uptrend today :
1.3650...1.3700...1.3750
target for this week is 1.3800

happy nice day for all
  • #544,438
  • Sep 27, 2011 6:10pm Sep 27, 2011 6:10pm
Quoting Forbes55
the above video said that european market will crash tomorrow or today so all goes according to your chart
Hope you were not trading the EUR/CHF with a leveraged account like that 3 weeks ago. I wonder how many accounts were blown out as she blew past stops with major slippage. Wonder how many traders owe their brokerage money because they couldn't close the positions and margin calls fast enough.

1000 pips 3 hrs. The Swiss National Bank put a floor on this pair at 1.2000.

She ain't coming back anytime soon... mabey never... SNB said this is the bottom and they can buy all the euros they need to buy to keep it above 1.2000

Trading without stops is gambling, not trading.

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I don't care which way the market is going as long as it's going my way
  • #544,439
  • Sep 27, 2011 6:12pm Sep 27, 2011 6:12pm
besides tomorrow Fed Chairman Bernanke Speaks, no doubt, his speech will support USD by rocking down euro
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  • #544,440
  • Sep 27, 2011 6:14pm Sep 27, 2011 6:14pm
Quoting CorBlimeyGuv
Was the BBC's trader from hell one big hoax? Claims greedy dealer praying for a recession in which to get rich was a FAKE


Read more: http://www.dailymail.co.uk/news/arti...#ixzz1ZCE1JjBc

The title and the article couldn't be more objective ... [/sarcasm]
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