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Low stress swing trading with momentum

  • #221
  • Jan 30, 2012 1:28pm Jan 30, 2012 1:28pm
Quoting PipKiller
AUDJPY trailing stop hit +255.6 pips
NZDJPY trailing stop hit +186.1 pips




USDJPY long limit order placed ADD: Limit order entry hit.

  1. Entry 76.81
  2. SL 76.44
  3. T1 77.96 pull .02 lots
  4. TP 80.00
  5. Risk 37 pips @ 1% allows .04 position size

Attachment



NZDUSD short limit order placed[list][*]Entry .8253[*]SL .8353[*][font=Verdana]T1 .8050 pull...

I love ur style of trading...trade and forget....
As for NZD/USD there is an uncovered gap on 2nd sept 2011...and another on 25th nov 2011...im not very gud of daily tf but do u tink its will close the top gap first then dive to close the bottom??? i only know empty spaces needs to be filled

warmest regards,
Luska
  • #222
  • Jan 30, 2012 1:53pm Jan 30, 2012 1:53pm
I have been thinking about what you said, and I guess I don't see what the difference is between the two. The rest of this I understand.

BTW, I am short eurcad again.


Quoting PipKiller
I'm trading price, not price action

  1. Pick your entry, set it and forget it, which is what I usually do.
  2. Wait for price to leave the zone and then enter on a retest. I don't like this one and don't use this method.
  3. Use a buy or sell stop order just outside the zone and let it trigger the trade up on the way back out. This is considered the safest. I will use this sometimes.

"Keep your eyes on the helpers" - Mr. Rogers
  • #223
  • Jan 30, 2012 1:56pm Jan 30, 2012 1:56pm
Why do empty empty spaces need to be filled?

Quoting Luska
I love ur style of trading...trade and forget....
As for NZD/USD there is an uncovered gap on 2nd sept 2011...and another on 25th nov 2011...im not very gud of daily tf but do u tink its will close the top gap first then dive to close the bottom??? i only know empty spaces needs to be filled

warmest regards,
Luska
"Keep your eyes on the helpers" - Mr. Rogers
  • #224
  • Jan 30, 2012 2:36pm Jan 30, 2012 2:36pm
Quoting Luska
I love ur style of trading...trade and forget....
As for NZD/USD there is an uncovered gap on 2nd sept 2011...and another on 25th nov 2011...im not very gud of daily tf but do u tink its will close the top gap first then dive to close the bottom??? i only know empty spaces needs to be filled

warmest regards,
Luska
Those are "retail gaps" True interbank market runs 27/7 unlike retail that closes Friday in NY and opens monday in Asia. There is no empty space that needs to fill on the interbank market.

Yes they often tend to close but it can close in minutes or take years.

The sept 2nd gap closed on sept 5th, your Nov 25th gap might not close for months or years.
I don't care which way the market is going as long as it's going my way
  • #225
  • Jan 30, 2012 3:00pm Jan 30, 2012 3:00pm
Quoting damonl
I have been thinking about what you said, and I guess I don't see what the difference is between the two. The rest of this I understand.

BTW, I am short eurcad again.
Price is the value
Price action is what the value is doing.

I trade price ... I want the trade based on what I think is a good price.... I use price to determine entry, SL and initial targets.

Trading price action is waiting for confirmation/momentum that it's moving in your favor before jumping on the train.... I'll often use price action to exit the trade if it looks like the momentum is failing or let it run further if the momentum looks strong.

Here's the catch.

  1. Trading price you are entering before the indicators, bars or candles tell you it's OK. Easy to get run over in a strong trend. Works well in a rangebound market and picking tops or bottoms for early entry for trends.
  2. Trading price action, the move might be done by the time you have confirmation for entry and get whipped when it reverses. Easy to get whipped in a rangebound market. Easy to catch a ride on a strong trend.

So what do you do....... You pick whichever one you are comfortable with and works best for you.

I don't care which way the market is going as long as it's going my way
  • #226
  • Jan 31, 2012 10:40am Jan 31, 2012 10:40am
G$ short stopped out and KIWI$ short limit filled on month end dollar dumping. EJ short pulled 1/2 position +200.0 pips and moved SL to BE in case Japan decides to intervene with UJ close to historical lows and EJ below 100.

Data today was not good with almost everything worse than expectations and there is China PMI tonight.

Stilll have a lot of high impact data left this week with the NFP report on friday too.

European summit produced little but another summit to be held. Kicked the can down the road again.

Greece and Portugal are all over the headlines.

Not seeing much good for risk today.
I don't care which way the market is going as long as it's going my way
  • #227
  • Jan 31, 2012 7:43pm Jan 31, 2012 7:43pm
A little update before going to bed. Closing the month of January with a small loss.

Booked the T1 profits on CADJPY, CHFJPY and EURGBP. They didn't hit T1 but are close enough I'm not going to fight it for a few more pips. Have my eye on a few more trades I may enter limit orders on soon.

Currently have the remaining pieces of 5 trades running almost risk free which is a good position to be in.

CHFJPY and EURGBP are at BE
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.jpg Size: 103 KB



CADJPY SL is now trailing at technical levels.
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpy.jpg Size: 105 KB
I don't care which way the market is going as long as it's going my way
  • #228
  • Jan 31, 2012 8:37pm Jan 31, 2012 8:37pm
lol it really is low stres... 700 pips open?

id bank em all

hehehe nice work PK
Have I got something on my face, SOLDIER?
  • #229
  • Jan 31, 2012 9:08pm Jan 31, 2012 9:08pm
Quoting bumapatria
lol it really is low stres... 700 pips open?

id bank em all

hehehe nice work PK
LOL Patience Grasshopper.

HBD Buma buddy (had to say it now before my old age kicks in and I forget in a few days LOL).


Yea, I'm clawing back what I lost earlier this month testing new stuff.

Really stressful day here man. Had to run into town this morning for a few hours to take care of some paperwork because of a new state and federal regulation requirement for people like me that have a commercial drivers license (I only maintain a commercial drivers license now to transport emergency stuff for FEMA disasters now), then catch up on the Forex news and charts this morning, fell asleep in my office chair watching CNBC for a few hrs, played Skyrim on the Xbox for about 5 hrs (oops, lost track of time), ate dinner, checked my charts again and now surfing ebay a bit before bed.

Rough day.
I don't care which way the market is going as long as it's going my way
  • #230
  • Feb 1, 2012 5:27am Feb 1, 2012 5:27am
US dollar dumping ahead of the ADP payrolls report. Which the headline number came in worse than expected and quite frankly I'm not impressed with the breakdown of where the jobs were added in it either.

Have taken a position in GBPUSD short at market deep in the supply zone. No other changes to note this morning.

It's a risky position but with a tight 40 pip stop allowing a fairly large position size for this account and should pay off well if the supply zone holds.

I did make a small mistake with the position size as I was splitting the position up for targets. It should have been 5 pieces instead of 6 at 43 pips. The difference between 5 and 6 positions is small at 3 pips so I'll let it ride.

 

  1. Entry 1.5848
  2. SL 1.5891
  3. T1 1.5660 pull .03 lots
  4. TP 1.5302
  5. Risk 43 pips @ 1% allows .05 position size (Note: 40 pips @ 1% allows .06 position size.)

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.jpg Size: 114 KB
I don't care which way the market is going as long as it's going my way
  • #231
  • Feb 1, 2012 5:34am Feb 1, 2012 5:34am
skyriM?

well u should know this brutha


i used to short the Eur/usd but i took an arrow to the knee

Have I got something on my face, SOLDIER?
  • #232
  • Feb 1, 2012 5:34am Feb 1, 2012 5:34am
Inserted Video


why the arrow to the knee thing should never have been a joke or a meme online
Have I got something on my face, SOLDIER?
  • #233
  • Feb 1, 2012 6:03am Feb 1, 2012 6:03am
Quoting bumapatria
http://www.youtube.com/watch?v=mSDfxde8fSg

why the arrow to the knee thing should never have been a joke or a meme online



Funny you mention arrows. My latest character I'm focusing his power on archery, sneak and destruction magic. At only level 21 he's become quite a nasty character.

Yesterday I shot somebody I evidently was supposed to talk too instead of kill and a minute later he was standing there casually talking to me with the arrow stuck right in the middle of his forehead. My daughter thought it was pretty funnny.

OOPS
I don't care which way the market is going as long as it's going my way
  • #234
  • Feb 1, 2012 6:08am Feb 1, 2012 6:08am
but arrow to the knee is nothing compared to this.

Inserted Video

Inserted Video


if u ever want to take a trade...


FUS RO DAH - EURO SPIKES IN UR DIRECTION 500 PIPS
Inserted Video
Have I got something on my face, SOLDIER?
  • #235
  • Feb 1, 2012 6:12am Feb 1, 2012 6:12am
this is me and PK's strategy to move price in our directionn..
Inserted Video


FUS RO DAH

and guess what me and sarge said before euro spiked 100+ pips..
im ready t osay it again... ahhaha

lol dont get tired of thsi crap one bit!

okay go back to ur trades lol
Have I got something on my face, SOLDIER?
  • #236
  • Feb 1, 2012 4:37pm Feb 1, 2012 4:37pm
Yo... what's up?

I got to see four doctors today. I can't believe that it can be so draining just sitting in waiting rooms, waiting for doctors to confer and what is next. And I thought I was done! Dammit! I guess a few things go on a bit longer.

I had a nice pleasentry with my trading. I was doing a few different things to determine when price was going to switch direction etc. It wasn't all that time consuming but, after looking at charts, it was easy to miss them and it was causing me issues.

Anyway, I started using the angled trendline tool and I found that it helps me eliminate all the bar stuff and gave me a "new" chart to look at. It is funny. After all this time being away, it is kind of like I am starting over with Forex through a De Ja Vu senario. It is kind of cool.

Anyway, have a nice day!
"Keep your eyes on the helpers" - Mr. Rogers
  • #237
  • Feb 1, 2012 5:57pm Feb 1, 2012 5:57pm
Quoting damonl
Yo... what's up?

I got to see four doctors today. I can't believe that it can be so draining just sitting in waiting rooms, waiting for doctors to confer and what is next. And I thought I was done! Dammit! I guess a few things go on a bit longer.

I had a nice pleasentry with my trading. I was doing a few different things to determine when price was going to switch direction etc. It wasn't all that time consuming but, after looking at charts, it was easy to miss them and it was causing me issues.

Anyway, I started using the angled trendline...
Hope all's well. I hate waiting around and it especially pisses me off if I'm waiting for hours AFTER a scheduled appointment time. I won't book appointments anymore unless it's right when they open and I'm one of the first they see.


What a frustrating month of trading. Take a step forward and then take one back. Go to bed with stuff looking good and wake up with everything in the shitcan.

Kiwi$ stopped out a few hours ago and EURAUD long limit order just filled a few minutes ago.

AUDNZD remaining short SL now trailing technically. Placed just above a fresh supply zone.
Attached Image (click to enlarge)
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I don't care which way the market is going as long as it's going my way
  • #238
  • Feb 2, 2012 6:35pm Feb 2, 2012 6:35pm
GBPNZD stopped out.

NFP report due tomorrow at 8:30AM NY as well as US unemployment rate, then ISM non-manufacturing PMI out at 10AM NY.

Non Farm Payroll is probably the most watched report that comes out every month and you often get some wild swings before and after the report.

I'm not placing any new limit orders tonight. I'll take another look at the charts in the morning.
I don't care which way the market is going as long as it's going my way
  • #239
  • Feb 2, 2012 6:45pm Feb 2, 2012 6:45pm
I hear ya there. It is most likely going to be a very slow night and morning. Enjoy your evening siesta with the weekend to follow. Next week we can start all over again !

Quoting PipKiller
GBPNZD stopped out.

NFP report due tomorrow at 8:30AM NY as well as US unemployment rate, then ISM non-manufacturing PMI out at 10AM NY.

Non Farm Payroll is probably the most watched report that comes out every month and you often get some wild swings before and after the report.

I'm not placing any new limit orders tonight. I'll take another look at the charts in the morning.
"Keep your eyes on the helpers" - Mr. Rogers
  • #240
  • Feb 3, 2012 5:20am Feb 3, 2012 5:20am
Quoting damonl
I hear ya there. It is most likely going to be a very slow night and morning. Enjoy your evening siesta with the weekend to follow. Next week we can start all over again !
Start over???..... This is a never ending circus.




Update. NFP report out in about 10 minutes.

GBP/CAD short limit order filled about an hour ago. I'm leaving everything else alone. No changes, just going to sit back and enjoy the show.
I don't care which way the market is going as long as it's going my way
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