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On My Way To The Top

  • #681
  • Oct 14, 2011 1:28am Oct 14, 2011 1:28am
No man is free who is not a master of himself. -P.M.-
  • #682
  • Oct 14, 2011 1:36am Oct 14, 2011 1:36am
just moved stop to lock in 2% on usd cad short

skipped getting in on nzd usd because 1 hour rope wasnt quite overbought yet but practically there to me so just not ideal in my eyes but it would be a free trade ride now and 8 pips away from locking in 2%...
No man is free who is not a master of himself. -P.M.-
  • #683
  • Oct 14, 2011 1:42am Oct 14, 2011 1:42am
Has nice momentum now the 15 and 30 rope are heading down with it and converged very nicely...along with 1 hour rope but will stick to management rules still and see how much the market decides to give me...
No man is free who is not a master of himself. -P.M.-
  • #684
  • Oct 14, 2011 1:48am Oct 14, 2011 1:48am
there goes the nzd giving the extra push to lock in 2% or to just simply take 4% if one has a certain goal for the day... (cough cough k-kay)
No man is free who is not a master of himself. -P.M.-
  • #685
  • Oct 14, 2011 4:20am Oct 14, 2011 4:20am
market took out trailing stop at 4%
No man is free who is not a master of himself. -P.M.-
  • #686
  • Oct 14, 2011 4:52am Oct 14, 2011 4:52am
Just realized I never posted a picture so here it is of the usd cad...
Attached Image (click to enlarge)
Click to Enlarge Name: usd cad.gif Size: 46 KB
No man is free who is not a master of himself. -P.M.-
  • #687
  • Oct 14, 2011 5:50am Oct 14, 2011 5:50am
hi folks!

my 2 trades for the day, one loss and one winer
Attached Images
passion and discipline
  • #688
  • Oct 14, 2011 5:53am Oct 14, 2011 5:53am
Quoting rohule
hi folks!

my 2 trades for the day, one loss and one winer
What percent did you make?
No man is free who is not a master of himself. -P.M.-
  • #689
  • Oct 14, 2011 5:56am Oct 14, 2011 5:56am
Quoting pmullin86
What percent did you make?

i lost 3 pips but i make 3%, very good trades paul, congratulations!
passion and discipline
  • #690
  • Oct 14, 2011 5:57am Oct 14, 2011 5:57am
Hi Pmullin,

Good job again today.

Hope the following were by your rules.. Late to the PC today so missed some earlier setups but took a short on the usdcad.. Locked in 2% just before news (risking 1%).. It went to 5% so have locked in 4% so we'll see what happens..( just got stopped out for 4%)

I have a question if you don't mind. Just looking at your charts what stop loss do you use for your trades? I only ask as the EU break even trade you had this morning would have been a winner for me following what you say about moving stop loss(I would have been stopped out at 1% when I moved stop up). I'm assuming I would have entered at 1.3775 and initial stop loss approx 1.3759.

I've enjoyed using your setup for looking at possible trades over the last couple of days so I think I'll spend next week on it and see what it brings.


Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad1.gif Size: 19 KB
  • #691
  • Edited 6:17am Oct 14, 2011 6:05am | Edited 6:17am
There is the momentum I was talking about on the usd cad...
Attached Image (click to enlarge)
Click to Enlarge Name: usd cad strong.gif Size: 45 KB
No man is free who is not a master of himself. -P.M.-
  • #692
  • Oct 14, 2011 6:27am Oct 14, 2011 6:27am
Stop moved to lock in 2% on eu buy off the fifteen minute...
No man is free who is not a master of himself. -P.M.-
  • #693
  • Oct 14, 2011 6:33am Oct 14, 2011 6:33am
Quoting rohule
i lost 3 pips but i make 3%, very good trades paul, congratulations!
Good job bro...
No man is free who is not a master of himself. -P.M.-
  • #694
  • Oct 14, 2011 6:41am Oct 14, 2011 6:41am
Quoting balrog
Hi Pmullin,

Good job again today.

Hope the following were by your rules.. Late to the PC today so missed some earlier setups but took a short on the usdcad.. Locked in 2% just before news (risking 1%).. It went to 5% so have locked in 4% so we'll see what happens..( just got stopped out for 4%)

I have a question if you don't mind. Just looking at your charts what stop loss do you use for your trades? I only ask as the EU break even trade you had this morning would have been a winner for me following what you say about moving stop loss(I...
Well I'm glad you enjoyed the strategy. I've tried to make it as simple as possible but yet effective at the same time and so this is what I've come to but its practically how I've been trading for pretty much the whole year...just the dumbed down version if you would...but stops are always at last semaphor but I also include the spread or spread plus some additional pips...you were lucky on your usd cad trade because you caught the fifteen minute entry on the five minute and that's why it worked but I didn't take it because I didn't like the one hour ropes position...
No man is free who is not a master of himself. -P.M.-
  • #695
  • Oct 14, 2011 6:50am Oct 14, 2011 6:50am
Just closed at fib pivot level since it met that level and eur usd is at its daily range so closed for 5%... total for today is 9% and I believe that will be it for me for today...I'm mad I missed the fifteen minute entry on the usd cad as that would have me banking also...but like I said I'm done for the day I believe...and will take my 9% total...so total for the week is

Monday 52%
Tuesday 3%
Wednesday 30%
Thursday 4%
Friday 9%

Total for the week= +98%
No man is free who is not a master of himself. -P.M.-
  • #696
  • Oct 14, 2011 7:02am Oct 14, 2011 7:02am
Quoting pmullin86
Well I'm glad you enjoyed the strategy. I've tried to make it as simple as possible but yet effective at the same time and so this is what I've come to but its practically how I've been trading for pretty much the whole year...just the dumbed down version if you would...but stops are always at last semaphor but I also include the spread or spread plus some additional pips...you were lucky on your usd cad trade because you caught the fifteen minute entry on the five minute and that's why it worked but I didn't take it because I didn't like the one...
Yeah.. I did see the 1hr rope and it did raise a little alarm but not big enough to stop me. I suppose I don't have the experience with this strategy yet.

I do the same with stops. Twice the spread in most cases.

BTW, well done this week.
  • #697
  • Oct 14, 2011 7:11am Oct 14, 2011 7:11am
Quoting balrog
Yeah.. I did see the 1hr rope and it did raise a little alarm but not big enough to stop me. I suppose I don't have the experience with this strategy yet.

I do the same with stops. Twice the spread in most cases.

BTW, well done this week.
Hmmm well that's at least good that you noticed it...good trading on your part as well though for being completely new to everything and reading the rules and such on your own....you took a good understanding it seems....but it will all come in time like anything...and I'm going to look into all the positions I opened earlier and see if maybe it was an oversight on my end and maybe I set them to break even too soon...
No man is free who is not a master of himself. -P.M.-
  • #698
  • Oct 14, 2011 7:48am Oct 14, 2011 7:48am
I miscalculated on all four of my entries I took this morning that were knocked out at break even as they apparently ran up to 4% where I should have locked in 2% before they retraced and should have knocked me out for 2% on each... I'm not sure why I didn't lock in the 2% on them all.....the market caught me slipping this morning...lol...I gave up 8% just like that...so my returns should have been 17% today instead as those were some solid entries...and now I'm looking at the action I missed on the 15 minute chart as roberto has brought to my attention all the yen pairs moving really nicely...giving entries on the 15 minute...blah...I'm shutting down my platforms now...I can't look anymore..lol...just kidding...but its always nice to see...
No man is free who is not a master of himself. -P.M.-
  • #699
  • Oct 14, 2011 9:01am Oct 14, 2011 9:01am
Quoting pmullin86
Hey its nice to hear from you...from the last time we talked it sounded like you had quite a bit going on but such is life..
Paul
Will take me probably a couple of month to 1/2 year until all works out.

Anyway, I see your thread as got more speed now with other people joining your discussion - this is good.

Anyway: I have a couple of question to your pic

What is: BSB and the two CTT


BTW: if I find time I might upload the stuff I did last (couple of error corrections etc... but never made to update in the indi thread.)


Good trading to you

MJ
Attached Image (click to enlarge)
Click to Enlarge Name: gu entey stop at two percent.gif Size: 39 KB
__Thanks__ MJ
  • #700
  • Oct 14, 2011 9:05am Oct 14, 2011 9:05am
But I come up with a revision a few weeks ago to alleviate the problem of the 1 hour going into oversold/overbought (5 minute)/4 hour going into oversold/overbought (15 minute)....according to the rules if these time frame stochastics go into the extreme than it automatically becomes a no trading area but I have been looking into playing on that as an example in the usd cad...but what I look for in these conditions are simply for the rope to still be heading down on the 1 hour even into the oversold extreme along with price hitting a trendline off the 1 hour time frame on the 5 minute chart along with the end of the retracement being marked by hidden divergence off that trendline......I'm going to be implementing this in my trade plan...but will take these with less risk than normal trades until more forward testing is completed...

pics to illustrate what I mean attached...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usd cad extreme 5 minute.gif Size: 41 KB
Click to Enlarge Name: usd cad extreme 60 minute.gif Size: 43 KB
No man is free who is not a master of himself. -P.M.-
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