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High velocity trading

  • #1,241
  • Oct 11, 2011 9:12am Oct 11, 2011 9:12am
http://img84.imageshack.us/img84/1403/goldh1dnvg.png

DNVG if I was you I would start with the basics. Use weekly pivots. Use psychological levels (00 25 50 75). Use channels. And use HTF (H1). Maybe you have to adjust your SL a little. Have a simple rulebook to process entries. Enter only upon confluence (candlestick pattern near psychological level or near important WP/S/R).

See the attached chart. Yes it's post fact. However some good ideas how to spot proper setups and how to react.

I suggest you get to HTF first and see how price reacts near psycho levels. Learn stick patterns (there are 4-8 most important once - everything else is junk or zero use). Learn how to apply ADR/AWR properly.

This alone should improve accuracy/timing of your entries significantly.
  • #1,242
  • Oct 11, 2011 9:14am Oct 11, 2011 9:14am
DNVG more importantly ask questions, if unsure, don't just sit there quietly!
  • #1,243
  • Oct 11, 2011 9:18am Oct 11, 2011 9:18am
I'm working with strict stop loss technique
I'm using 0.05 lot size with 10$ loss
and after 2 weeks and 44 orders my standing is
21 order closed with loss overall loss -260
23 order closed with overall profit +338

so what I can conclude is i'm not able to put proper TP point and
it happens most of the time that my profit trades are turning into loss trades because of strict 10$ loss decision.

how can I save my profit orders and instead of booking loss, booking some minor profit ?


any suggestion
  • #1,244
  • Oct 11, 2011 9:19am Oct 11, 2011 9:19am
Quoting ruffryders
DNVG more importantly ask questions, if unsure, don't just sit there quietly!
Basically there is no rocket science involved in trading GOLD. A lot of patience is required. You can look for setups on HTF (H1 and higher). Enter trades using LTF (M5) and manage trades using M15 and M30 - basically by looking how price action behaves near the next psycho level.
  • #1,245
  • Oct 11, 2011 9:24am Oct 11, 2011 9:24am
Quoting jaimini
I'm working with strict stop loss technique
I'm using 0.05 lot size with 10$ loss
and after 2 weeks and 44 orders my standing is
21 order closed with loss overall loss -260
23 order closed with overall profit +338

so what I can conclude is i'm not able to put proper TP point and
it happens most of the time that my profit trades are turning into loss trades because of strict 10$ loss decision.

how can I save my profit orders and instead of booking loss, booking some minor profit ?


any suggestion
Basically you are overtrading there for sure! I only place 5-7 trades per week.
Also that means you have to refine your entry points / and TP levels. For proper TPing you need to apply ADR to your charts, so you can establish daily range and TP near it's high/low point.
  • #1,246
  • Oct 11, 2011 9:31am Oct 11, 2011 9:31am
Quoting ruffryders
Basically you are overtrading there for sure! I only place 5-7 trades per week.
Also that means you have to refine your entry points / and TP levels. For proper TPing you need to apply ADR to your charts, so you can establish daily range and TP near it's high/low point.
5-7 :O
then definitely I'm over trading
i was thinking this too.

from where can I can I get ADR indicator
  • #1,247
  • Oct 11, 2011 9:34am Oct 11, 2011 9:34am
Quoting ruffryders
yeah that's cool just reduce your leverage then. The deal is that you need to decrease your exposure. or increase your equity value (how much you got in the account!).
I cannot, i don't have much money cause it blew up when the Gold went down in August. I wasn't expecting so much down and forgot to SL. The rest of the losses were trying to recover the lost money...with no luck.

The only way to enter GOLD is through some leverage, i don't want to risk more money on this. I lost about 20K...i'm really lost. :-(
  • #1,248
  • Oct 11, 2011 11:57pm Oct 11, 2011 11:57pm
Quoting ruffryders
http://img84.imageshack.us/img84/1403/goldh1dnvg.png

[b][color="DarkRed"]DNVG if I was you I would start with the basics. Use weekly pivots. Use psychological levels (00 25 50 75). Use channels. And use HTF (H1). Maybe you have to adjust your SL a little. Have a simple rulebook to process entries. Enter only upon confluence (candlestick pattern near psychological level or near important WP/S/R).

See the attached chart. Yes it's post fact. However some good ideas how to spot proper setups and how to react.

I suggest you get...
Right now according to this same chart GOLD is a BUY @ 50-54 area. It could hit 46-48, but this needs to hold, then BUY ZONE could be triggered @ 50-54.
  • #1,249
  • Oct 11, 2011 11:57pm Oct 11, 2011 11:57pm
Quoting jaimini
5-7 :O
then definitely I'm over trading
i was thinking this too.

from where can I can I get ADR indicator
All indicators that I use with the template are on the page 1 of this thread.
  • #1,250
  • Oct 12, 2011 12:29am Oct 12, 2011 12:29am
GU and EJ M15 TL break to the upside now.
  • #1,251
  • Oct 12, 2011 12:38am Oct 12, 2011 12:38am
good morning ruffryders !


should go of the Goldchart about over the WP, in 1675. Would this be, nevertheless, also go long? Can you say us something else to bottom daily to rank what the colours have to do? Whether can I recognise from it something?
  • #1,252
  • Oct 12, 2011 12:41am Oct 12, 2011 12:41am
Quoting stevebalmmer
good morning ruffryders !


should go of the Goldchart about over the WP, in 1675. Would this be, nevertheless, also go long? Can you say us something else to bottom daily to rank what the colours have to do? Whether can I recognise from it something?
Steve right now my feeling is that we will hit 1650 and then go to 1700 (initially). 1640-1650 is generally a good (STRONG) BUY ZONE.
  • #1,253
  • Oct 12, 2011 12:43am Oct 12, 2011 12:43am
yes i think too,the trendline on h1 is go long.
it came a reversal, i go long at 1650.
  • #1,254
  • Oct 12, 2011 12:57am Oct 12, 2011 12:57am
Quoting stevebalmmer
yes i think too,the trendline on h1 is go long.
it came a reversal, i go long at 1650.
but don't just go LONG. Wait for some sign of confirmation!

http://i.investopedia.com/inv/articl...icks_V2_3r.gif

http://education.wallstreetsurvivor....k_Patterns.jpg
  • #1,255
  • Oct 12, 2011 1:04am Oct 12, 2011 1:04am
updated H1 GOLD chart

http://img707.imageshack.us/img707/2...h112102011.png
  • #1,256
  • Oct 12, 2011 1:11am Oct 12, 2011 1:11am
patience is the key right now guys, if you want to cash out this move on GOLD.
  • #1,257
  • Oct 12, 2011 1:13am Oct 12, 2011 1:13am
anyone long GU (M15 TL break)?

i got in with a tight stop
  • #1,258
  • Oct 12, 2011 1:16am Oct 12, 2011 1:16am
Quoting ruffryders
anyone long GU (M15 TL break)?

i got in with a tight stop
come on guys. If you are not taking TL break trade setups, how are you gonna make money?

It's a good TL break above WP = me likes that one.
  • #1,259
  • Oct 12, 2011 1:38am Oct 12, 2011 1:38am
gold rally I personally think this is a trap.
  • #1,260
  • Oct 12, 2011 1:40am Oct 12, 2011 1:40am
Quoting ruffryders
anyone long GU (M15 TL break)?

i got in with a tight stop
No ... reason..dont see any clear support on1 hr and 4 and u are buying into day ppx..

I think daily charts EU.. Cable and Dragon are all bullish... thats raw charts..congestion above all..
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