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Price Action and Trading Discussion

  • #701
  • Jan 12, 2012 4:18am Jan 12, 2012 4:18am
Quoting FX-Ray
Hey Dark,

clean charts, nice. Ever considered to switch from short to long (and vice versa) at your stop price?
Hi Ray,

Na I wont do that, If it goes the opposite way I will simply wait for it to make its move and then wait for some sort of confirmation that the move is going to possibly hold.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #702
  • Jan 12, 2012 4:28am Jan 12, 2012 4:28am
Quoting DarkWolF
Hi Ray,

Na I wont do that, If it goes the opposite way I will simply wait for it to make its move and then wait for some sort of confirmation that the move is going to possibly hold.
If you got a good hit rate this technique could improve your performance.
Good Trading.
  • #703
  • Jan 12, 2012 4:32am Jan 12, 2012 4:32am
Quoting FX-Ray
If you got a good hit rate this technique could improve your performance.
Good Trading.
I dont aim to take a lot of trades each day, just a couple but at high probablility areas.

As you can see if I had simply got out at my original target level on that last trade, it would have been all good. Guess there is a lesson in that
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #704
  • Jan 12, 2012 4:36am Jan 12, 2012 4:36am
Quoting DarkWolF
I dont aim to take a lot of trades each day, just a couple but at high probablility areas.

As you can see if I had simply got out at my original target level on that last trade, it would have been all good. Guess there is a lesson in that
Every Trade is a lesson. Im also wait for price levels, their distance can have several 100 pips, I can wait and trade aggressiv then.
Example:

Today Im waiting for 1,2735/30 printed, I went short at 1,2730.
Instead using a common stop I reversed the position at 1,2735 and been immediatly on the right side. For Scalpers this technique could be deadly, agreed with that but if you can wait and are patient .. its another case.
Attached Image (click to enlarge)
Click to Enlarge Name: this.png Size: 90 KB
  • #705
  • Jan 12, 2012 4:39am Jan 12, 2012 4:39am
Quoting FX-Ray
Every Trade is a lesson. Im also wait for price levels, their distance can have several 100 pips, I can wait and trade aggressiv then.
Example:

Today Im waiting for 1,2735/30 printed, I went short at 1,2730.
Instead using a common stop I reversed the position at 1,2735 and been immediatly on the right side. For Scalpers this technique could be deadly, agreed with that but if you can wait and are patient .. its another case.
Indeed.

Every trader has their own method. That is where you need to head as a trader, to be comfortable with your own method and your own trades.

As long as what you are doing is working for you as an individual trader then its all good in my books.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #706
  • Jan 12, 2012 4:41am Jan 12, 2012 4:41am
Quoting FX-Ray
Every Trade is a lesson. Im also wait for price levels, their distance can have several 100 pips, I can wait and trade aggressiv then.
Example:

Today Im waiting for 1,2735/30 printed, I went short at 1,2730.
Instead using a common stop I reversed the position at 1,2735 and been immediatly on the right side. For Scalpers this technique could be deadly, agreed with that but if you can wait and are patient .. its another case.
TP: 1,2795
Partial Profits already taken.
  • #707
  • Jan 12, 2012 4:54am Jan 12, 2012 4:54am
Quoting FX-Ray
TP: 1,2795
Partial Profits already taken.
I would say that level will be achieved today.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #708
  • Jan 12, 2012 5:02am Jan 12, 2012 5:02am
Quoting DarkWolF
I would say that level will be achieved today.
Maybe, maybe not. I dont care, I just know what to do, I leave it up to the market.
  • #709
  • Jan 12, 2012 5:07am Jan 12, 2012 5:07am
Quoting FX-Ray
Maybe, maybe not. I dont care, I just know what to do, I leave it up to the market.
Yep thats all we can do, the market will do what the market will do
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #710
  • Jan 16, 2012 2:32am Jan 16, 2012 2:32am
Hi guys,

USD bank holiday today, potential for markets to be reasonably quiet.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #711
  • Jan 16, 2012 5:17am Jan 16, 2012 5:17am
Quoting DarkWolF
Hi guys,

USD bank holiday today, potential for markets to be reasonably quiet.

Well pretty much been a spectator today with the US bank holidays as expected the market has been rather quiet.

There has been a couple of moves away from the top end of the asian range but not for me today.

I will be back tomorrow to see what is on offer.

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #712
  • Jan 16, 2012 5:24am Jan 16, 2012 5:24am
Quoting DarkWolF
Hi guys,

USD bank holiday today, potential for markets to be reasonably quiet.
Thanks for the heads up mate
  • #713
  • Jan 16, 2012 6:34am Jan 16, 2012 6:34am
i hate holidays
  • #714
  • Jan 16, 2012 12:56pm Jan 16, 2012 12:56pm
first time i've heard someone say that !
  • #715
  • Jan 16, 2012 6:07pm Jan 16, 2012 6:07pm
Quoting fantom
i hate holidays
I believe you hate weekend as well, since there is no trade
  • #716
  • Jan 17, 2012 1:52am Jan 17, 2012 1:52am
Hi guys,

Here are the areas that I will be keeping an eye on for both EU and AU today.

With the break being to the upside, first of all I will be looking for some kind of pullback continuation move if it presents itself.

Cheers.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu 5 min.jpg Size: 81 KB
Click to Enlarge Name: AU 5 min.jpg Size: 67 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #717
  • Jan 17, 2012 1:58am Jan 17, 2012 1:58am
Stalled at the first resistance area.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 5 mins.jpg Size: 88 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #718
  • Jan 17, 2012 2:54am Jan 17, 2012 2:54am
Some thoughts from the hourly chart.
Attached Image (click to enlarge)
Click to Enlarge Name: hourly.jpg Size: 105 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #719
  • Jan 17, 2012 3:41am Jan 17, 2012 3:41am
Took this long, but as it seems to be struggling at the first resistance area I closed it out. I was going to target slightly a bit higher around the 1.27853 ish area.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu1.jpg Size: 82 KB
Click to Enlarge Name: eu2.jpg Size: 86 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #720
  • Jan 17, 2012 4:07am Jan 17, 2012 4:07am
Well the news helped it easily reach my original target.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
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