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  • #2,521
  • Jan 30, 2012 4:16am Jan 30, 2012 4:16am
I see the FTA at 1.0040 area (previous bar highs)
  • #2,522
  • Jan 30, 2012 4:24am Jan 30, 2012 4:24am
Quoting bez3000
I am in this trade from 1.0065, lets see how we go

Care to share ur SL and TP for this trade, Bez? Thanks in advance.
  • #2,523
  • Jan 30, 2012 5:23am Jan 30, 2012 5:23am
Hi Wiz,

I have followed Toms method for 8 months and looking for setups on the daily levels only is very doable but you need to tweak Toms method slightly (ie the rounded restest on the hourly doesnt need to be rounded on the daily) The strike rate is very high.

SFP's on the daily can be fairly common and trading the daily close is one way to do this that will certainly provide an edge. Waiting for a 1hr retracement level after a daily SFP however will yield very few opportunites if you are looking particularly for very strong hourly levels to trade from.

Personally I found it very difficult to mix daily and hourly TF's whilst holding down a full-time job. If you cant manage trades intra-day then basing the entire trade off the daily (ie stop, entry and exit off daily levels) may be one way of doing this, but I could only do this comfortably with a strong bias in my favour.






Quoting wizardblue
Couple of questions here for Toms followers as apposed to Tom. I'm currently following Jarroo and looking to mix in some of Toms style into the method. Due to running my own business I don't have time to look for or manage trades on the 1hr timeframe. Do any of you guys also trade Toms method but from the daily TF or even weekly?

Is anyone trading SFPs on the daily TF ! They seem common enough and from some Mickey Mouse backtesting I can see a potential edge. Entering on the close on the daily would be fine for me, or I could drop down to the...
  • #2,524
  • Jan 30, 2012 5:44am Jan 30, 2012 5:44am
Quoting Frxter
Care to share ur SL and TP for this trade, Bez? Thanks in advance.

Quoting Kalbar
I see the FTA at 1.0040 area (previous bar highs)


I am looking for the RN at 1.0000 just above the last swing low, SL is 1.0120 well out of the way giving me an R or 1 if all goes well
  • #2,525
  • Jan 30, 2012 5:50am Jan 30, 2012 5:50am
Also in EURCAD from rounded retest, three good touches to the level and 50% fib.
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  • #2,526
  • Jan 30, 2012 6:08am Jan 30, 2012 6:08am
http://content.screencast.com/users/...01-30_1252.png
Greetings, BeLikewater
  • #2,527
  • Jan 30, 2012 7:12am Jan 30, 2012 7:12am
Anyone looking at Eur/Jpy ??

Stop loss : 99.93
Fta: 100.58
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Patience is essential
  • #2,528
  • Jan 30, 2012 8:16am Jan 30, 2012 8:16am
Comments ?
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  • #2,529
  • Jan 31, 2012 1:16am Jan 31, 2012 1:16am
Quoting bez3000
I am in this trade from 1.0065, lets see how we go
Kalbar did you get in this trade? I closed last night for 65 pips.
  • #2,530
  • Jan 31, 2012 1:57am Jan 31, 2012 1:57am
Quoting bez3000
Kalbar did you get in this trade? I closed last night for 65 pips.
Hi Bez

It missed my entry level by 3 pips so missed out!

Missed one on EURGBP by 2 pips yesterday also so will have to fine-tune my levels as its a bit frustrating missing moves by a couple of pips.

Well done on holding the U/C trade as it retraced to entry level after initial move.

Kal
  • #2,531
  • Jan 31, 2012 2:23am Jan 31, 2012 2:23am
Hi Tom,

yesterday you twittered to look for a bounce off 0.8115 NZDUSD.
Why is that a valid setup? The level was broken before (black ellipse).
And, would it not have been more a trading chance before when the price bounced downwards (green ellipse before the black one)?
Maybe you could tell something about how that level is identified as a valid one in your next webinar, too.

Greetings,
Jan.
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  • #2,532
  • Jan 31, 2012 2:29am Jan 31, 2012 2:29am
Hm, just took a look at it in a 1h TF. There it seems to make sense.
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  • #2,533
  • Jan 31, 2012 2:40am Jan 31, 2012 2:40am
Still in this EJ trade....Got to the FTA and took half profit....i should have some bias for the remaining half.....but honestly i don't have any.Let's wait
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Patience is essential
  • #2,534
  • Jan 31, 2012 3:25am Jan 31, 2012 3:25am
Nzd/Usd just broke out a swing high on 4h TF.It seems a nice are to look for RR.
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Patience is essential
  • #2,535
  • Jan 31, 2012 3:37am Jan 31, 2012 3:37am
Cable just touched major resistance at 5773 - could be a good place to watch for a SFP.
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  • #2,536
  • Jan 31, 2012 3:42am Jan 31, 2012 3:42am
Quoting benem
Still in this EJ trade....Got to the FTA and took half profit....i should have some bias for the remaining half.....but honestly i don't have any.Let's wait
Moved stop loss below 1h swing low
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Patience is essential
  • #2,537
  • Jan 31, 2012 4:57am Jan 31, 2012 4:57am
I managed to get an entry into Cad. 3 pip drawdown. Taken some off just above parity and holding the balance from a bigger move down.

Does anyone know where I can get charts on Interest Rate Hedges. I need to break a trade with Barcap and I think they are trying to rape me on the exit. I have no idea whether the price they quote me is correct. It seems to have jumped massively since yesterday too. Any ideas ?

Wiz
  • #2,538
  • Jan 31, 2012 5:42am Jan 31, 2012 5:42am
Quoting wizardblue
I managed to get an entry into Cad. 3 pip drawdown. Taken some off just above parity and holding the balance from a bigger move down.

Does anyone know where I can get charts on Interest Rate Hedges. I need to break a trade with Barcap and I think they are trying to rape me on the exit. I have no idea whether the price they quote me is correct. It seems to have jumped massively since yesterday too. Any ideas ?

Wiz

Are you mentioning this one? ->

http://content.screencast.com/users/...01-31_1229.png



Yes It was a nice level, I took it too.

Also It was with the trend. 1st TP achieved, 2nd let ride it.
Greetings, BeLikewater
  • #2,539
  • Jan 31, 2012 5:57am Jan 31, 2012 5:57am
http://content.screencast.com/users/...01-31_1239.png
Greetings, BeLikewater
  • #2,540
  • Jan 31, 2012 5:57am Jan 31, 2012 5:57am
Quoting Kalbar
Cable just touched major resistance at 5773 - could be a good place to watch for a SFP.
No SFP on 1hr or 4hr - price has broken through the level at the moment so if it holds above may be a ggod area to watch for a nice RR.
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