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Nearly Naked (Simple Trades)

  • #10,421
  • Oct 26, 2011 4:36am Oct 26, 2011 4:36am
let see previous monthly Candle of EURUSD of last month it was down candle if we add febo from high to low and mark 61.8 febo on level 1.3994 if any monthly closed above this level it's strong signal that we will see up trend till the end of this year

ok let see same candle when bar noumber 3 closed just above 61.8 price goes more up
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GREENIUS
  • #10,422
  • Oct 26, 2011 7:26am Oct 26, 2011 7:26am
Quoting dddd
xau/usd. WHAT i am seeing.

it is a good thing i use SL....otherwise the situation would have been much worse.
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  • #10,423
  • Oct 27, 2011 10:26am Oct 27, 2011 10:26am
my setup for EU

http://1.bp.blogspot.com/-y1fchhdtIt...Q/s1600/74.png
GREENIUS
  • #10,424
  • Oct 27, 2011 12:30pm Oct 27, 2011 12:30pm
Quoting greenius
my setup for EU
Great trade Greenius ..... also thanks for explanation of your SL strategy .... its quite creative and worth experimenting at some point in future.

By the way what was your decision criteria for entering this one ?

Thanks
  • #10,425
  • Oct 27, 2011 3:58pm Oct 27, 2011 3:58pm
Quoting MktScape
Great trade Greenius ..... also thanks for explanation of your SL strategy .... its quite creative and worth experimenting at some point in future.

By the way what was your decision criteria for entering this one ?

Thanks
in this one i start looking for long position since price goes north due to resolved of Greek crises and since the price not closed of 4h bar below 23.6 febo it's strong indication that 1.45 it's our target


For me i will wait price come back to me to retest 1.3977 to ride north train
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GREENIUS
  • #10,426
  • Oct 27, 2011 5:56pm Oct 27, 2011 5:56pm
I'm still bearish on eu, I still think we see 1.27 in the next 5-10 weeks, maybe price goes a little higher first but the move today hasn't changed the longerterm charts any for me.
  • #10,427
  • Oct 27, 2011 8:04pm Oct 27, 2011 8:04pm
Quoting MktScape
Great trade Greenius ..... also thanks for explanation of your SL strategy .... its quite creative and worth experimenting at some point in future.

By the way what was your decision criteria for entering this one ?

Thanks

i second that-- his trading skills. greenius and WMD are by far the BEST TRADERS i have seen on FF. They leave pretty much everybody else in the dust. They are rarefied.
  • #10,428
  • Oct 28, 2011 12:43am Oct 28, 2011 12:43am
Quoting dddd
i second that-- his trading skills. greenius and WMD are by far the BEST TRADERS i have seen on FF. They leave pretty much everybody else in the dust. They are rarefied.
Thks

please see my view in EURGBP King

http://1.bp.blogspot.com/-GkGQVjYZhq...o/s1600/76.png
GREENIUS
  • #10,429
  • Oct 29, 2011 2:34pm Oct 29, 2011 2:34pm
Supply Level to Watch next week
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  • #10,430
  • Oct 29, 2011 2:37pm Oct 29, 2011 2:37pm
Quoting greenius
Thks

please see my view in EURGBP King
Greenius, if i am reading correctly there is no stop loss in place right now but you have placed an order based on a fraction, say 0.5, of total risk (say 1%) ...

Or is there a SL hiding somewhere that i cant figure out.
  • #10,431
  • Edited 9:22pm Oct 29, 2011 2:42pm | Edited 9:22pm
Weekly view ..... H1 Flag ....going to a demand zone.
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  • #10,432
  • Edited 10:04pm Oct 29, 2011 5:04pm | Edited 10:04pm
The highlighted level has multiple confluences .... Monthly R1, 61.8% Fib .... pendnig reversal? but the uptrend is still in tact so far .... it could still go toward 78% fib.

Greenius, Saxon what do you guys say .... are you favoring shorts to wedge channel low at this point or would still be taking longs?
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  • #10,433
  • Oct 30, 2011 4:53am Oct 30, 2011 4:53am
Quoting MktScape
Greenius, if i am reading correctly there is no stop loss in place right now but you have placed an order based on a fraction, say 0.5, of total risk (say 1%) ...

Or is there a SL hiding somewhere that i cant figure out.

hi accualy i split my order (2%) into part see chart my SL level below last valley in case SL Hit i am going to lose 2% if the price goes 200 pip but most of time price oscillate between level and most of time not exceeding third entry if your analytic is right by this way you can get out with zero or some profit
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GREENIUS
  • #10,434
  • Oct 30, 2011 10:05am Oct 30, 2011 10:05am
Quoting MktScape
The highlighted level has multiple confluences .... Monthly R1, 61.8% Fib .... pendnig reversal? but the uptrend is still in tact so far .... it could still go toward 78% fib.

Greenius, Saxon what do you guys say .... are you favoring shorts to wedge channel low at this point or would still be taking longs?
Hi MktScape, great charts as usual
For this pair, I am finding that there is better friction at the fib drawn from the high at Mid-April. If that is so, it will mean that PA is getting close to reaching 61.8. That is what I am looking for right now on GU. That wedge is forming well and RSI is reaching overbought. Hopefully when Pivs reset we can get some confluence in that region.
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  • #10,435
  • Oct 30, 2011 11:53am Oct 30, 2011 11:53am
Hi group, I'm still looking for someone to program an EA based on just 3 Moving averages (1 Simple, 1 Weighted and 1 Centered). Anyone know someone that can do this. It is a very simple setup. Thanks eveyone, I just dont have time to learn MQL
  • #10,436
  • Edited 6:42pm Oct 30, 2011 3:57pm | Edited 6:42pm
Quoting Saxon
Hi MktScape, great charts as usual
For this pair, I am finding that there is better friction at the fib drawn from the high at Mid-April. If that is so, it will mean that PA is getting close to reaching 61.8. That is what I am looking for right now on GU. That wedge is forming well and RSI is reaching overbought. Hopefully when Pivs reset we can get some confluence in that region.
Thanks for your comments Saxon .... I have still a long way ahead to become a full time trader .......

For GU .... let see how this one transpires. Will follow-up later.

With respect to your search for programmer ... on FF I can only remember Hanover who could work with you .... may be for a charge. Otherwise you can use Freelance programmer from websites such as www.Freelancer.com. Post your project in a sealed bid and your budget defined and you can get some seriously good programmers with a good track record and reasonable pricing.

I have got some work done from there and it was pretty good.
  • #10,437
  • Oct 30, 2011 7:27pm Oct 30, 2011 7:27pm
Quoting MktScape
Thanks for your comments Saxon .... I have still a long way ahead to become a full time trader .......

For GU .... let see how this one transpires. Will follow-up later.

With respect to your search for programmer ... on FF I can only remember Hanover who could work with you .... may be for a charge. Otherwise you can use Freelance programmer from websites such as www.Freelancer.com. Post your project in a sealed bid and your budget defined and you can get some seriously good programmers with a good track...
Thanks for the suggestions, I'll look into it
  • #10,438
  • Oct 30, 2011 7:31pm Oct 30, 2011 7:31pm
Quoting greenius
hi accualy i split my order (2%) into part see chart my SL level below last valley in case SL Hit i am going to lose 2% if the price goes 200 pip but most of time price oscillate between level and most of time not exceeding third entry if your analytic is right by this way you can get out with zero or some profit
Which broker are you using .... as far as i know Oanda has the option of breaking down the orders into very small lots.

If price dosent goes your way then how long you would wait before closing the open positions (to free up the capital for other better probability trades) or you would wait for the SL to get hit.
  • #10,439
  • Oct 30, 2011 7:35pm Oct 30, 2011 7:35pm
Quoting Saxon
Thanks for the suggestions, I'll look into it
You`re welcome.

I just noticed the additional V, thanks for that, much appreciated.

Since you are here would you shed some light on how you like to enter the trades. Do you split the total risk into small chunks like Greenius or you simply go with full 1 or 2% risk with a single limit order. Do you use buy/sell stop orders.
  • #10,440
  • Oct 30, 2011 9:18pm Oct 30, 2011 9:18pm
Quoting MktScape
You`re welcome.

I just noticed the additional V, thanks for that, much appreciated.

Since you are here would you shed some light on how you like to enter the trades. Do you split the total risk into small chunks like Greenius or you simply go with full 1 or 2% risk with a single limit order. Do you use buy/sell stop orders.
I dont really have a set system for SL/TP and what not. I usually try to stagger into a target. I'll have 1 or sometimes 2 smaller positions 5-10 pips ahead of my target to ensure that I get in. I will then have a much larger position on the actual target. If it is a PPZ, I will have one at the entry, maybe one in the middle and my SL the width of the PPZ out the back. If my target is on a fib level, I will not set my SL any further than half the distance to the next fib. Usually, when PA gets to my target, I can get a good idea of what the market is going to do next based on the few candles after the target is hit. Also, it depends on how extended PA is before the target. For example, if PA is making a huge drive up to my target, it is in the overbought region, most of the velocity is spent and a good target can stop it in it's tracks. If PA is slowly getting up to my target on 45 degrees or less, than PA could have some stored energy to get right through my target. Also, what trading session is your target getting hit in and what time during that session is it hitting. For example, if London and NY take PA to your target, it hits but now NY is off and liquidity is gone. PA might have just stopped at your taget due to that factor alone, lack of liquidity. Then when Asia gets on, they are going to be like, "well sht, LDN and NY were buying it, they know their stuff and they make the market, who are we to turn it the other way." They could push through your target and stop you out and then like magic, LDN trades your target and sends it the other way. But that is more for the day trader. If you are long term, set your stops wide, trade on high-prob targets, stagger positions, trade less and trade bigger. Once your in a position, don't micro-manage it. Just let your previous analysis do its job. Just keep your mobile phone on Bloomy/Reuters for any Fundie data that could move the market.
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