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Price Trap Eur/Usd 1 MIN

  • #541
  • Oct 7, 2011 1:59am Oct 7, 2011 1:59am
Quoting phneutral
Trap 1: Voided.
Approximately at this time I set up a trap for GBPUSD. It was not an ideal trap, but it was more than 9 pips high and I liked the PA, so I took the trade. It already hit my 30 pips take profit.

I felt very uncomfortable trading only EURUSD, so I decided to trade only this system but two currencies, EURUSD and GBPUSD, and now I see that it is exactly what I need.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #542
  • Oct 7, 2011 2:06am Oct 7, 2011 2:06am
Quoting Favorite
Approximately at this time I set up a trap for GBPUSD. It was not an ideal trap, but it was more than 9 pips high and I liked the PA, so I took the trade. It already hit my 30 pips take profit.

I felt very uncomfortable trading only EURUSD, so I decided to trade only this system but two currencies, EURUSD and GBPUSD, and now I see that it is exactly what I need.
Glad to hear it.

Keep posting the results on GBP

PH
  • #543
  • Oct 7, 2011 2:18am Oct 7, 2011 2:18am
we are on our way to hitting tp
  • #544
  • Oct 7, 2011 2:20am Oct 7, 2011 2:20am
tp hit, + 20 pips

anyone else get it ...


  • #545
  • Oct 7, 2011 2:22am Oct 7, 2011 2:22am
Trap 3: Again, no entry
Attached Image (click to enlarge)
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  • #546
  • Oct 7, 2011 2:26am Oct 7, 2011 2:26am
Just like last Friday, we missed the first two, although the second Trade was a loser, we missed both entries. We did catch the third and it was a profit. But tough night
Trade Like a Robot make money Like a Bank
  • #547
  • Oct 7, 2011 2:32am Oct 7, 2011 2:32am
Quoting phneutral
Keep posting the results on GBP
Sure!

Here's another one:

GBPUSD long 1.55052 at 3:16 EST. In 3 minutes hit TP +30 pips. Once again, not an ideal trap, but good PA supported my decision to take a trade. Sorry, I can't post a picture, don't know what is wrong.

Guys, I don't know if any of you want to trade both GBPUSD and EURUSD, but for the ones who want I have a trick: look at EURGBP, if it is long - that means that you'd better trade EURUSD, if it is short - then GBPUSD more active, pay more attention to GBPUSD.

It is not a very good Euro session so far, but it is a great session for GBPUSD - in one and a half hours I got 60 pips.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #548
  • Oct 7, 2011 2:35am Oct 7, 2011 2:35am
Quoting phneutral
Trap 3: Again, no entry

well that was a trap that developed while i was still in the previous trade.

what happens in such a scenario ? i.e. if you are in a trade, but another trap develops. do you close the trade with any loss / profit at the time and go for the new trap ?
  • #549
  • Oct 7, 2011 2:38am Oct 7, 2011 2:38am
Quoting Favorite
Sure!

Here's another one:

GBPUSD long 1.55052 at 3:16 EST. In 3 minutes hit TP +30 pips. Once again, not an ideal trap, but good PA supported my decision to take a trade. Sorry, I can't post a picture, don't know what is wrong.

Guys, I don't know if any of you want to trade both GBPUSD and EURUSD, but for the ones who want I have a trick: look at EURGBP, if it is long - that means that you better trade EURUSD, if it is short - then GBPUSD more active, pay more attention to GBPUSD.

eur.gbp long or short by how many pips ? before london open its pretty much stale..
  • #550
  • Oct 7, 2011 2:44am Oct 7, 2011 2:44am
Quoting whatfx
eur.gbp long or short by how many pips ? before london open its pretty much stale..
whatfx, I trade both currencies (GBPUSD and EURUSD) M-1, but I analyze EURGBP using H-1, see whether the current H-1 EURGBP trend is long or short.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #551
  • Oct 7, 2011 2:46am Oct 7, 2011 2:46am
Quoting whatfx
well that was a trap that developed while i was still in the previous trade.

what happens in such a scenario ? i.e. if you are in a trade, but another trap develops. do you close the trade with any loss / profit at the time and go for the new trap ?
From what i see , normally the second goes in the direction of the first.

If not... hummm ... i don't wanna see a bear trap while i'm long on another...
  • #552
  • Oct 7, 2011 2:47am Oct 7, 2011 2:47am
GBPUSD trap is forming right now. Good-bye, everybody!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #553
  • Oct 7, 2011 2:50am Oct 7, 2011 2:50am
Quoting Favorite
whatfx, I trade both currencies (GBPUSD and EURUSD) M-1, but I analyze EURGBP using H-1, see whether the current H-1 EURGBP trend is long or short.

  • #554
  • Oct 7, 2011 3:02am Oct 7, 2011 3:02am
Quoting Favorite
GBPUSD trap is forming right now.
I took long GBPUSD at 1.55440. Maybe I shouldn't, maybe the long trend already is almost over, and under normal conditions I probably wouldn't take the trade, but as I said before, I want to test my idea about using a lock instead of a stop-loss, so a bad trade would be good for me!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #555
  • Edited 3:49am Oct 7, 2011 3:38am | Edited 3:49am
Quoting Favorite
I took long GBPUSD at 1.55440. Maybe I shouldn't, maybe the long trend already is almost over, and under normal conditions I probably wouldn't take the trade, but as I said before, I want to test my idea about using a lock instead of a stop-loss, so a bad trade would be good for me!
It went down 20 pips, but I set my "lock" according to the rules in 23 pips (the trap was 23 pips high), so it didn't activate my lock, although it was close. And after that it went up and started ranging, so I exited with a small loss -8 pips. I can live with that!

So I had two winning trades 30 pips each and a small loss (I wouldn't take this trade if I traded a full lot, it was obvious that the trend is almost over, but it was for testing). Total profit: GBPUSD +52 pips in two and a half hours.

Since it is a Non-Farm Friday, it's time to call it a day!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #556
  • Oct 7, 2011 3:48am Oct 7, 2011 3:48am
another trap at 1.3437 1.3447?!
  • #557
  • Oct 7, 2011 4:08am Oct 7, 2011 4:08am
Trap 4: Winner.
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  • #558
  • Oct 7, 2011 5:46am Oct 7, 2011 5:46am
Quoting phneutral
Trap 4: Winner.

not exactly a bonified trap. this one came about when the previous trap had just gone into profit. so a lot of us would have missed it.
  • #559
  • Oct 7, 2011 7:39am Oct 7, 2011 7:39am
Text Book Entry for NFP Trap
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #560
  • Oct 7, 2011 7:46am Oct 7, 2011 7:46am
Anothre Tet book Entry GU on NFP. SL 20 pipis, TP 40 pips
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
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