Attachments: From Muppet to Bastard

From Muppet to Bastard

#21
Oct 3, 2011 2:23am Oct 3, 2011 2:23am

TheSwede
| Joined Apr 2010 | Status: Muppet Extraordinary | 806 Posts

Ok, here it comes.

This month I have been working a lot in finding setups i like. I posted some of them in different threads and so far they have worked out pretty good.

I also post my view in other threads. I'll do a post on how I find historical SR levels in the comming week.

Goals for this month is to start trade a little bit more but only setups I like (like a hammer on a H1 resistance/trendline). For example we are at a very important level now on EUR/USD 1.331 that could lead as a long way down if broken.

I also read/study a book called "Reading price charts bar by bar" which i really like.

Good fortune care to share any setups?

Quoting Good Fortune

Disliked

Give us an update man....

Ignored

#22
Oct 3, 2011 10:47am Oct 3, 2011 10:47am

Good Fortune
| Joined Feb 2011 | Status: Tracking | 530 Posts

Ok cool.... Will share some stuff I am looking at. Still alot of ground to cover....

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Do your time and enjoy the ride...

#23
Oct 3, 2011 10:52am Oct 3, 2011 10:52am

Good Fortune
| Joined Feb 2011 | Status: Tracking | 530 Posts

I've got a couple losers on the Euro I could post as well. Maybe get a feedback loop on the bad trades as well...?

Do your time and enjoy the ride...

#24
Oct 3, 2011 11:35am Oct 3, 2011 11:35am

Good Fortune
| Joined Feb 2011 | Status: Tracking | 530 Posts

Was looking for alittle better bounce here and then continuation of the downtrend... However, she did not bounce very far and is still selling off.

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Do your time and enjoy the ride...

#25
Oct 4, 2011 4:59am Oct 4, 2011 4:59am

TheSwede
| Joined Apr 2010 | Status: Muppet Extraordinary | 806 Posts

Thats what you learn the most from.

Quoting Good Fortune

Disliked

I've got a couple losers on the Euro I could post as well. Maybe get a feedback loop on the bad trades as well...?

Ignored

#26
Oct 4, 2011 10:38am Oct 4, 2011 10:38am

E-Money
| Joined Aug 2009 | Status: Trader | 271 Posts

Can someone explain what this roll is? I have heard this in several threads. It appears that there are several per day and they seem to hold some importance. Thanks.

#27
Oct 4, 2011 10:58pm Oct 4, 2011 10:58pm

Good Fortune
| Joined Feb 2011 | Status: Tracking | 530 Posts

Quoting E-Money

Disliked

Can someone explain what this roll is? I have heard this in several threads. It appears that there are several per day and they seem to hold some importance. Thanks.

Ignored

Considered the beginning and ending of the trading day for that market. One I look at is NY Roll. 1700 EST or 5:00 pm EST.

Do your time and enjoy the ride...

#28
Oct 5, 2011 5:38am Oct 5, 2011 5:38am

TheSwede
| Joined Apr 2010 | Status: Muppet Extraordinary | 806 Posts

I'll try to explain it.

Positions in FX-markets are pre default closed at a specific time by the broker. Lets say for example that your broker is in GB. At the end of the trading day the position is closed and then your broker reopens it adding swap; the position is rolled over to the next trading day. There are several rolls each day but the two by far most important are NY Roll (See Good Fortunes post) and 0000 BST (London roll). There is a post by Cloggie on how the rolls effect the next tradingday.

Quoting E-Money

Disliked

Can someone explain what this roll is? I have heard this in several threads. It appears that there are several per day and they seem to hold some importance. Thanks.

Ignored

#29
Edited 11:53am Oct 5, 2011 11:36am | Edited 11:53am

Good Fortune
| Joined Feb 2011 | Status: Tracking | 530 Posts

Couple short trades. Pretty self explanatory. Need to get better at holding some of these and recognizing earlier when the potential for continuation has decreased. With Euro need to work on adapting strategies to the current environment and price action more consistently. A couple nice easy scalps can add up to 60-75 pips easy. But, not cutting them loose correctly can easily give all the profits back.

Also need to work on not cutting good positions too fast while the instrument has loads left in her.

These seemed to have worked out pretty well after close (not cutting too soon or too late) thus far which is one of the reasons I wanted to post. May continue on, but a few good places to cover. Trying to amplify and emphasize best practices...

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Do your time and enjoy the ride...

#30
Edited 12:25pm Oct 5, 2011 11:56am | Edited 12:25pm

Good Fortune
| Joined Feb 2011 | Status: Tracking | 530 Posts

One more. Cut this one after she took alittle too long to develop further. Looking into this more... May require a new research project.... Still advancing the ball forward.

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Do your time and enjoy the ride...

#31
Oct 5, 2011 4:34pm Oct 5, 2011 4:34pm

Good Fortune
| Joined Feb 2011 | Status: Tracking | 530 Posts

Earlier setup. May like to wait alittle while for Frankie?

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#32
Oct 6, 2011 1:56am Oct 6, 2011 1:56am

9047
Joined Jun 2011 | Status: Nominal | 304 Posts

I'm follow your thread with some interest. I like the goals you outlined at the start Swede. Curious though, what does the name of thread mean? Once your successful you'll be a bastard?

I'm trading Daily, H4 and H1 bars and generally using S/R, PA and patterns. I've been at this properly now for about 2 months and my strike rate (discounting the last week - after 4 weeks off I reverted to an absolute amateur

) is on the rise. That said I've dabbled for about 12 months. But the James16 thread helped me focus my energies.

After last week I'm no going to trade for 3 weeks and instead focus on back testing patterns on the majors. If I can distill the information into a legible form I'll share.

Fortune what is the system are you using? The previous posts have a some indies on them but not to sure if your using the stoch or MA cross over etc. Would love to hear about you approach.

9047

#33
Oct 6, 2011 2:35am Oct 6, 2011 2:35am

TheSwede
| Joined Apr 2010 | Status: Muppet Extraordinary | 806 Posts

Nice that you follow, hopefully you can pick up something and contribute back. I post a lot in EurAnalysis thread and thats a good place to hang on a daily basis.

The name of the thread is just to make a little fun of the guys over at the useless thread. I'll never be a bastard I'm just too much of a nice guy.

The one thing that has really turned my trading into being a lot more profitable is to have a good money management in place.

Quoting 9047

Disliked

I'm follow your thread with some interest. I like the goals you outlined at the start Swede. Curious though, what does the name of thread mean? Once your successful you'll be a bastard?

I'm trading Daily, H4 and H1 bars and generally using S/R, PA and patterns. I've been at this properly now for about 2 months and my strike rate (discounting the last week - after 4 weeks off I reverted to an absolute amateur ) is on the rise. That said I've dabbled for about 12 months. But the James16 thread helped me focus my energies.

After last...

Ignored

#34
Edited 10:17am Oct 6, 2011 9:40am | Edited 10:17am

Good Fortune
| Joined Feb 2011 | Status: Tracking | 530 Posts

Quoting 9047

Disliked

I'm follow your thread with some interest. I like the goals you outlined at the start Swede. Curious though, what does the name of thread mean? Once your successful you'll be a bastard?

I'm trading Daily, H4 and H1 bars and generally using S/R, PA and patterns. I've been at this properly now for about 2 months and my strike rate (discounting the last week - after 4 weeks off I reverted to an absolute amateur ) is on the rise. That said I've dabbled for about 12 months. But the James16 thread helped me focus my energies.

After last...

Ignored

I agree with what Swede said.

The thread kicked off after alot of good traders left the Euro thread.

I see this as kind of a focused thread without alot of the noise (right now) that you get on others. The emphasis is simply folks committed to going to the next level imo. How do you do that? Post charts, share analysis, have fun when not in a trade. Recognize when the Muppet comes out, learn the lesson, and move back to the Bastard. Remember you can also go from Bastard to Muppet pretty fast.... Everyone is both at various times. That's part of the joke imo. Some just way over on one part of the scale at times than others.

My system is simply that. Something I've developed which is working for me as I continue to evaluate, audit, and tweak. Just a patient process of picking up the pieces and putting them together in a way that works for you.

Some of the indicators I meant to take off before posting the charts because they aren't totally necessary to make a point. They are also relevant at different times and depending upon what my plan for the current trade is. Part of the key imo is knowing when they are best suited for your trade plan, holding period, and PA.

Do your time and enjoy the ride...