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  • #621
  • Edited 9:55pm Oct 26, 2011 4:39am | Edited 9:55pm
Several US data and BoC Monetary Policy report will be released between 1-4hrs from now.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdcad4h_02.gif Size: 42 KB
Click to Enlarge Name: usdcad4h_03.gif Size: 41 KB
  • #622
  • Oct 26, 2011 4:57am Oct 26, 2011 4:57am
Quoting VennD
Closed most of the scalpers earlier , only left the following ...
short @ 1.0478 + long @ 0.9992 (+486)
short @ 1.0208 + long @ 0.9993 (+215)
short @ 1.0206 + long @ 0.9993 (+213)
short @ 1.0204 + long @ 0.9994 (+210)
short @ 1.0203 + long @ 0.9994 (+209)
short @ 1.0202 + long @ 0.9994 (+208)
Total secured +1,541 pips. GL 2yr trades !
Hi VennD...
Your performance is outstanding, although I got bit lost in your trades.

I like to understand what I am reading about, so few questions therefore please:

  1. I do understand you’re scalping only on 5M charts… as I can see you are taking several transactions per day, both longs and shorts. Why you are not taking one transaction? Instead, I can see a cluster of few minor transactions very close together? What’s it all about?
  2. What is your main (decision making) setup? What is your “trigger” to jump in and out.
  3. For me „short @ 1.0478 + long @ 0.9992 (+486)” means nothing else but just closing the transaction. Is this correct? I am asking, as sometimes brokers do not allow opening opposite (hedge) positions. I mean you must close short to open long. Often many brokers “square” all hedge positions on “roll-over night”.
  4. Do you have any negative balance transactions, literally what’s your stop-loss technique?

Thanks for respond, buddy…

---------

Read Charts - Not Papers
  • #623
  • Oct 26, 2011 5:26am Oct 26, 2011 5:26am
Quoting halkins
Hi VennD...
Your performance is outstanding, although I got bit lost in your trades.

I like to understand what I am reading about, so few questions therefore please:[list][*]I do understand you’re scalping only on 5M charts… as I can see you are taking several transactions per day, both longs and shorts. Why you are not taking one transaction? Instead, I can see a cluster of few minor transactions very close together? What’s it all about?[*][font=Verdana]What...
It's not that difficult to understand what Im doing. My advantage is that Im not a US citizen and I don't use US brokers/brokers registered in US. US made so so much rules . Cannot hedge ... must use FIFO,etc. Such rules is not helping but killing accounts.

I opt for non-swaps account so ... no interest paid to me and vice versa. If I want interest paid to me ... I keep it in bank and relaxe.

Im an impatience guy. I can't wait to get 1,000 pips waiting for hours/days/weeks. That's why I do like that - buy+sell.

I like to use buy+sell so that, I can closed one of them when PA is too near and reenter at a better price. I won't hedge IF u can guarantee to me that it's a one way ticket.

No stop loss if one buy and one sell. No matter where PA want to go, I will still maintain the same pips. If Im ready to close, I will close both (buy+sell).

Only at the initial entry (before it is in pair - buy+sell) , I have to use stoploss.

Are u jealous that I have such advantages ?
  • #624
  • Oct 26, 2011 5:41am Oct 26, 2011 5:41am
Quoting VennD
Are u jealous that I have such advantages ?
Sure I am jealous, ha ha... wanna make 1000 pips a day, too
And bit more seriously I am more like swing trader, so I am successful on higher time frames, but it makes me wait for a good entry few days sometimes. And this is goddamn boring…
While my setup works fine on higher time frames I can’t make it works well on intraday trading. This is why I am watching closely guys like you and trying to catch a thing or two…
So far 5M, let alone 1M charts seem too choppy for me to make up any “scalping”....
Thnx anyway...
Good luck
Read Charts - Not Papers
  • #625
  • Edited 6:23am Oct 26, 2011 6:18am | Edited 6:23am
Besides others ... China will also help the Euro Fund/bailout through IMF. What does that mean ? hehehe..
  • #626
  • Oct 26, 2011 7:35am Oct 26, 2011 7:35am
Quoting VennD
added to the abv trades...

long @ 1.0115 + short @ 1.0151 (+36 pips) . Total secured +1,577 pips.

dear VennD,
let said you're jump in when you see the candles & patterns.
and than when you hit already (said buy pos : up coming wish)...

what would U do IF the market againts ur pos? (turning down like coaster) :
as u said : buy when the rejected support ; mean Buy again @ the dip?
and how about the oldest pos : buy # 1?

and how abt IF the 2nd buy pos still againts U?
  • #627
  • Oct 26, 2011 7:51am Oct 26, 2011 7:51am
Quoting VennD
Besides others ... China will also help the Euro Fund/bailout through IMF. What does that mean ? hehehe..
Dear VennD,
more Q 4u :
how is the way to got the hedging pair in the right pos
(for buy @ low & sell @ hi),meanwhile the market might be/often opposite our 1st pos?
thanx a lot !
  • #628
  • Edited 8:16am Oct 26, 2011 8:15am | Edited 8:16am
Im afraid I don't understand very well what you are trying to ask. Can you ask someone to translate your questions in a proper sentences ? TQ
  • #629
  • Oct 26, 2011 8:17am Oct 26, 2011 8:17am
I was beginning to think I was wrong, but now Im glad I double dipped this baby. Just took awhile to drop again. 9800 is still my deep limit and nothing has changed..


Quoting spillini
Just added to my short position with short stop, looks like a sucker run to me, though.
Please do not vouch for me.
  • #630
  • Oct 26, 2011 8:44am Oct 26, 2011 8:44am
Quoting VennD
Im afraid I don't understand very well what you are trying to ask. Can you ask someone to translate your questions in a proper sentences ? TQ

ok once again...
those was ur last post : for exl :
Originally Posted by VennD http://www.forexfactory.com/images/buttons/viewpost.gif
added to the abv trades...

long @ 1.0115 + short @ 1.0151 (+36 pips) . Total secured +1,577 pips.


#1 long @ 1.0115 (jump in after the tech result : candles,patterns,etc in chart) but as u said sometimes market againts U with many ways.
when #1 long,had a wrong direction...(down) what would U should do? :
wait till the rejected support = buy @ dip OR hedge it by sell stop?

and how if #2 long (when buy in dip) still break down ; mean the market still againts ur pos?

more Q is : how U SET the pair of hedge : long + sell ?
in case the market againts U ?

wish U got my point now? hehehe
  • #631
  • Oct 26, 2011 12:12pm Oct 26, 2011 12:12pm
Anybody in for a small bull ride?
Make your losses in demo. Earn your profits live.
  • #632
  • Oct 26, 2011 12:54pm Oct 26, 2011 12:54pm
Patience is a virtue and not many have it. But you have to have it to trade. You have to ignore market kneejerk moves and stay with the whole picture. This one tried to shake me twice on this trade. 9800 still sticking with my guns.


Quoting spillini
I was beginning to think I was wrong, but now Im glad I double dipped this baby. Just took awhile to drop again. 9800 is still my deep limit and nothing has changed..
Please do not vouch for me.
  • #633
  • Edited 7:23pm Oct 26, 2011 5:23pm | Edited 7:23pm
Quoting bestrader98
ok once again...
those was ur last post : for exl :
Originally Posted by VennD http://www.forexfactory.com/images/buttons/viewpost.gif
added to the abv trades...

long @ 1.0115 + short @ 1.0151 (+36 pips) . Total secured +1,577 pips.


#1 long @ 1.0115 (jump in after the tech result : candles,patterns,etc in chart) but as u said sometimes market againts U with many ways.
when #1 long,had a wrong direction...(down) what would U should do? :
wait till the rejected support = buy @ dip OR hedge it by sell stop?
Sorry for the late reply. Brain need some oxygen ... so I went under the blanket

At the initial entry I must have a stop loss, usually 3-10 pips below/above recent low/high bars. So ... should that entry be wrong, market will eat my stop loss. Reenter again at a better price. I seldom use sell stop. I try to minimize my indis by only using Trend Lines , Channels , Fibo Rules and Signal Candles/Formations ... as guidance for entries.

Quoting bestrader98
...
and how if #2 long (when buy in dip) still break down ; mean the market still againts ur pos?
There won't be #2 or #3 and so forth ... IF you understand very well about signal candles readings , fibo rules ( what prices will do at each levels). Btw ... do u understand what does Trend Lines + Channels meaning in real life ? I will knock your head if u answer to me ... they're supports and resistances. They act like supports and resistances BUT they're NOT supports and resistances. What are they ? Goggle some where else to find the answer ... , and ... If you draw them wrongly ... , I will take your pips !

Quoting bestrader98
... More Q is : how U SET the pair of hedge : long + sell ?
in case the market againts U ? wish U got my point now? hehehe
I think our basic foundations in forex trading are very much different. Mostly wrong are for you ... not for me. Else ... my nannies had already chop off my head several years ago. hehehe
  • #634
  • Edited 10:20pm Oct 26, 2011 10:05pm | Edited 10:20pm
Greece debt to be slashed and get EURO 100 billion in more loans...

I think they should give that kind of money to halkins ... to be traded in Forex or Options ... and Im sure in one month's time , ... Greece debt will be fully paid. Am I right, halkins ?
  • #635
  • Oct 26, 2011 10:20pm Oct 26, 2011 10:20pm
Hi Vennd,

How low do you think usdcad will drop this time before strong rebound?
  • #636
  • Edited 11:19pm Oct 26, 2011 10:31pm | Edited 11:19pm
With good news about Greece ... I think that gamblers in eur/usd @ 1.4000 will be blown ! Pls check back your intention to short from 1.4050 ... Could it be a lil bit more higher ... inorder to save so much on stop loss ?

Just a thought ...
  • #637
  • Oct 26, 2011 10:42pm Oct 26, 2011 10:42pm
Quoting VennD
With good news about Greece ... I think that gamblers @ 1.4000 will be blown ! Pls check back your intention to short from 1.4050 ... Could be a lil bit more higher ... inorder to save so much on stop loss ?

Just a thought ...
dear VennD,
very appreciated for ur advise,it's very clear n u already knock off my head either...:-)

and atm CAD @ 1.0010,yet touch the last support (rejected) ;
as per u said : buy @ rejected support.
could it be now the right time for buy?
with thight SL @ 0.9990 ?

or wait till the support broke / not?
put BL @ 0.9700 > to far / not ?

pls.give me the view of Tech for the CAD.
very sorry for disturbed & asked ur advise ; based u r the expert !
TQ so much
  • #638
  • Oct 26, 2011 10:44pm Oct 26, 2011 10:44pm
Quoting HandsFx
Hi Vennd,

How low do you think usdcad will drop this time before strong rebound?
Pls look at post # 621 ... 2nd chart ... aqua fibo colour ...

IF it doesn't fall below fib 100 , it will rebound ... or ... it might touch between fib 127-161 and then rebound.

When it rebound ... it will go more higher than ... 1.0213 , probably to 1.0274-1.0351. Sometimes also , it will only rebound between fib 0.00-100.0. After that I will tell you the next story because I can only predict base on each moves that it makes.

Anyhow ... everything depends on buy/sell/fundies+sentiments.
  • #639
  • Edited 10:58pm Oct 26, 2011 10:50pm | Edited 10:58pm
Quoting bestrader98
dear VennD,
very appreciated for ur advise,it's very clear n u already knock off my head either...:-)

and atm CAD @ 1.0010,yet touch the last support (rejected) ;
as per u said : buy @ rejected support.
could it be now the right time for buy?
with thight SL @ 0.9990 ?

or wait till the support broke / not?
put BL @ 0.9700 > to far / not ?

pls.give me the view of Tech for the CAD.
very sorry for disturbed & asked ur advise ; based u r the expert !
TQ so much
Pls read post # 638 and make your decision. I take care my accounts and you take care yours ... If u want to buy ... don't forget ... stop loss few pips below the recent low (0.9993). why ? because .... Im selling 300 lots from 1.0160
  • #640
  • Oct 26, 2011 10:57pm Oct 26, 2011 10:57pm
Quoting VennD
Pls look at post # 621 ... 2nd chart ... aqua fibo colour ...

IF it doesn't fall below fib 100 , it will rebound ... or ... it might touch between fib 127-161 and then rebound.

When it rebound ... it will go more higher than ... 1.0213 , probably to 1.0274-1.0351. Sometimes also , it will only rebound between fib 0.00-100.0. After that I will tell you the next story because I can only predict base on each moves that it makes.

Anyhow ... everything depends on buy/sell/fundies+sentiments.

ok...pls.corrected me if I'm went wrong mr.VennD

so base on ur chart # 2 (post 621) clearly fib 100 support @ 0.9990
than if break...it'll be touch around 0.9800 for fib 161 than rebound from there..?

so better BL @ 0.9800 ?
or still BL @ 0.9990-up (now atm)...with tight stop loss 10-15pips?
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