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Fail Better

  • #2,001
  • Nov 10, 2011 8:11am Nov 10, 2011 8:11am
Quoting shanto_w
Had an order in this overnight and it was executed and profit was taken by the time I woke up! The level was last support with D1 bias. I entered at 0.91478 and took profit at .90829 for +65 pips.

Attachment
  • #2,002
  • Nov 10, 2011 8:52am Nov 10, 2011 8:52am
Quoting shanto_w
Had an order in this overnight and it was executed and profit was taken by the time I woke up! The level was last support with D1 bias. I entered at 0.91478 and took profit at .90829 for +65 pips.

Attachment
awesome trade and great trade management
  • #2,003
  • Nov 10, 2011 12:02pm Nov 10, 2011 12:02pm
Quoting inks2002
great level, but i'm curious as to where you would place your stop?
So am I ...??

As you have probably noticed via the thread Tom seems to advocate placing the stop at the start of the previous thrust candle.

In this case as this candle is quite a large one and would need a pretty hefty stop (for me) approx 70 pips - So I am looking around about 106.90s as that is just above the previous swing low candle to the left..

I am sure everyone has their own ideas and preferences though..
Fingers crossed..

regards
  • #2,004
  • Nov 11, 2011 4:56am Nov 11, 2011 4:56am
Quoting shanto_w
Had an order in this overnight and it was executed and profit was taken by the time I woke up! The level was last support with D1 bias. I entered at 0.91478 and took profit at .90829 for +65 pips.

Attachment

Took the same trade for +92pips

To me it looked a great level.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Nov. 11 10.54.jpg Size: 79 KB
  • #2,005
  • Nov 11, 2011 5:05am Nov 11, 2011 5:05am
This is a trade highlighted by Tom and you can see why!

Taking a bit of heat at the moment and my stop is probably too far away but I thought it would be of interest especially as it is a " Wizard trade"!
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_03 Nov. 11 11.02.jpg Size: 74 KB
  • #2,006
  • Nov 11, 2011 5:11am Nov 11, 2011 5:11am
Quoting 4FXsake
This is a trade highlighted by Tom and you can see why!

Taking a bit of heat at the moment and my stop is probably too far away but I thought it would be of interest especially as it is a " Wizard trade"!
I'm currently in on this having entered at 77.47. Strong resistance last coupled with two day SFP makes this a high probability setup... still unsure of my stop position mind you!
Follow me on twitter: @shantrades
  • #2,007
  • Nov 11, 2011 5:24am Nov 11, 2011 5:24am
Quoting 4FXsake
This is a trade highlighted by Tom and you can see why!

Taking a bit of heat at the moment and my stop is probably too far away but I thought it would be of interest especially as it is a " Wizard trade"!
Hi 4FXsake,

looks like a good level, and thats what I call a breakout !

Just bear in mind that the crowd is long (stats of retail traders on fxcm 10/11/11)

(this is a contrarian indicator)
Attached Image (click to enlarge)
Click to Enlarge Name: SSI_GBPUSD_Ratio_Narrows_Shorts_Surge_30_As_Retail_Traders_Fade_Rally_body_ScreenShot016.png Size: 28 KB
  • #2,008
  • Edited 6:10am Nov 11, 2011 5:57am | Edited 6:10am
Quoting SoftControl
Hi 4FXsake,

looks like a good level, and thats what I call a breakout !

Just bear in mind that the crowd is long (stats of retail traders on fxcm 10/11/11)

(this is a contrarian indicator)
Attachment
If the crowd is long then maybe we should short it! Aaaaargh!
  • #2,009
  • Nov 11, 2011 6:17am Nov 11, 2011 6:17am
NZD/USD

Entered this yesterday morning and closed this morning. The level was last support with D1 bias. I entered at 0.78052 and had a target level of 0.77265 which was a key resistance last level. Price came down towards my target level but missed it by 5 pips so I decided to get out this morning at 0.7760 for +45 pips.

Attached Image (click to enlarge)
Click to Enlarge Name: nzdusdh1.1.gif Size: 26 KB
Follow me on twitter: @shantrades
  • #2,010
  • Nov 11, 2011 7:29am Nov 11, 2011 7:29am
Quoting shanto_w
Had an order in this overnight and it was executed and profit was taken by the time I woke up! The level was last support with D1 bias. I entered at 0.91478 and took profit at .90829 for +65 pips.

Attachment
Very good level and I really like who the price breaked the support in the past. I was looking for it but.... I seems the alert dissapeared from my chart.

Good job
Greetings, BeLikewater
  • #2,011
  • Nov 11, 2011 8:16am Nov 11, 2011 8:16am
Hello anyone in the twitter trade that ToM made on USD/JPY?

Also anyone can explain why Tom made the long.EUR/CHF trade at 1.2156?

There is not level from him in that level.

Cheers.
Greetings, BeLikewater
  • #2,012
  • Nov 11, 2011 10:12am Nov 11, 2011 10:12am
Quoting BeLikeWater
Hello anyone in the twitter trade that ToM made on USD/JPY?

Also anyone can explain why Tom made the long.EUR/CHF trade at 1.2156?

There is not level from him in that level.

Cheers.
I was in the USD/JPY trade but I was stopped out at 77.17. Interesting to see where it goes from here.
Follow me on twitter: @shantrades
  • #2,013
  • Nov 11, 2011 10:14am Nov 11, 2011 10:14am
If u are in UJ u shoudl be probably out as it was 40 pips in red.
EURCHF 2156 is old level from october.
  • #2,014
  • Nov 11, 2011 10:19am Nov 11, 2011 10:19am
Quoting 4FXsake
If the crowd is long then maybe we should short it! Aaaaargh!
Don't worry man, next time will be.

The problem is that the SSI is at a very high unbalance, for every trader short there is 5 traders long, when the sentiment index it at a lower levels (1 or 2) is hard, not always the crowd is wrong, but most time it is, and if it is at a extreme unbalance I just take extra care.

Good weekend !
  • #2,015
  • Nov 11, 2011 10:24am Nov 11, 2011 10:24am
This was a trade that I took on Walmart on Wednesday. The level was twice resistance last on the D1 t/f. I entered at 57.92 and took profit today at 59.06 for +114 pips.

Attached Image (click to enlarge)
Click to Enlarge Name: wmth1.gif Size: 53 KB
Follow me on twitter: @shantrades
  • #2,016
  • Nov 11, 2011 10:30am Nov 11, 2011 10:30am
Quoting gdb
EURJPY - Rounded retest short at 106.54 - any thoughts??
This is on deck, keep an eye.
  • #2,017
  • Nov 11, 2011 10:51am Nov 11, 2011 10:51am
Quoting sam0182
This is on deck, keep an eye.
It's on my radar too.
  • #2,018
  • Nov 11, 2011 10:57am Nov 11, 2011 10:57am
Quoting sam0182
This is on deck, keep an eye.
Nice one for the heads up
Follow me on twitter: @shantrades
  • #2,019
  • Nov 11, 2011 12:01pm Nov 11, 2011 12:01pm
Quoting shanto_w
I was in the USD/JPY trade but I was stopped out at 77.17. Interesting to see where it goes from here.
I am no expert..just learning what I can..

So this is just an observation..

Fortunately I cancelled the USD/JPY trade a few days ago as it seemed to be 'spidering' along in a really sluggish way..

I am sure that I have read somewhere in the thread that Tom looks for an acceleration into a level and certainly on my 1 hour charts it didnt have that..

You seem to be doing really well with your other selections though
  • #2,020
  • Nov 11, 2011 1:21pm Nov 11, 2011 1:21pm
Quoting gdb
I am no expert..just learning what I can..

So this is just an observation..

Fortunately I cancelled the USD/JPY trade a few days ago as it seemed to be 'spidering' along in a really sluggish way..

I am sure that I have read somewhere in the thread that Tom looks for an acceleration into a level and certainly on my 1 hour charts it didnt have that..

You seem to be doing really well with your other selections though
IMHO that is an excellent observation and one to remember! Thanks for that.
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