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  • #10,361
  • Jan 31, 2012 3:11am Jan 31, 2012 3:11am
Quoting T@rantula
15 point stop

Range play notice the potential swing

Attachment
Done. +40

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  • #10,362
  • Jan 31, 2012 3:16am Jan 31, 2012 3:16am
I should have explained the reasn of my short. Had a retracement signal with CCI... I thought we would go to DPP but we never passed 1.3161... I should have reloaded L then , well done on your entry..

I have 1.324 as target today, possibly 3265, beyond that we will be in the 33x area...


Quoting T@rantula
Exactly short are pure counter trades now. No point in heavy shorting as shorts are RETRACEMENTS now, not reversals. From a technical standpoint 3195 is continuation of long moves.


If SNB intervene that would add more fuel to existing longs.
  • #10,363
  • Jan 31, 2012 3:21am Jan 31, 2012 3:21am
Quoting BrunargarFx
I should have explained the reasn of my short. Had a retracement signal with CCI... I thought we would go to DPP but we never passed 1.3161... I should have reloaded L then , well done on your entry..

I have 1.324 as target today, possibly 3265, beyond that we will be in the 33x area...
Its ok mate. 3180 was a good shorting area. You could have got 20 pips, not a bad entry at all. From a technical standpoint, it was a counter trend trade.

I was just waiting for a trend picture to shape off, as i closed my 3180 overnight long ( hit tp). I was 70 % sure we will be back in uptrend but I needed confirmation. Hence, the long.
  • #10,364
  • Jan 31, 2012 4:09am Jan 31, 2012 4:09am
127.2 fib rejection that was the swing high and pre determined target, now consolidation time before next move.
  • #10,365
  • Jan 31, 2012 4:17am Jan 31, 2012 4:17am
We might see a sell off soon.

Counter-trend trade:

E:3182
S:3210
TP:3120
  • #10,366
  • Jan 31, 2012 4:25am Jan 31, 2012 4:25am
Attached Image (click to enlarge)
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  • #10,367
  • Edited 5:03am Jan 31, 2012 4:49am | Edited 5:03am
I keep an eye on the USDX, not shorting EUR/USD before we go below 1.3175. Dollar seems to be going down atm...
  • #10,368
  • Jan 31, 2012 5:12am Jan 31, 2012 5:12am
still opened. Either it hits tp or sl.
  • #10,369
  • Jan 31, 2012 5:13am Jan 31, 2012 5:13am
Quoting BrunargarFx
I keep an eye on the USDX, not shorting EUR/USD before we go below 1.3175. Dollar seems to be going down atm...
Not say ing its not going down... but current lows are month pivot resistance..33.3 and week pivot resistance..38% fibo pivots tha is..and on 30 min and 1 hr CCi there are diversions..
  • #10,370
  • Jan 31, 2012 6:04am Jan 31, 2012 6:04am
Volatility should be coming back in 40 mins
  • #10,371
  • Jan 31, 2012 7:44am Jan 31, 2012 7:44am
Quoting T@rantula
Attachment
Ok +17 scaling out. 3165. 1/2 at BE

Reason: close to 3160 ( break of it signals continuation)
  • #10,372
  • Jan 31, 2012 7:47am Jan 31, 2012 7:47am
i was about to ask this personally to our firend and good sheperd (teacher ) Tata , but i ugess its best if we get our info here for all:

so the question i wanted to ask is is there a time buffer in which you will close your trade? say your swing trading - but you are not profitable in the second day, and price did not hit your stop loss, woudl u stil lclose the trade? not that i have something like that now - but if it does occur as i do swing over 4+ days at a time id know what your opinion would be.

say price is really stalling on say .. .a long trade and your profit is close to BE , but ur stop is in a safe place. woudl u still hold, or would u close the trade due to the "no progress" situation?

and is it due to fear if one closes because " i dont like the situation?"

i hope im clear eoguh for an answer

if anyone else can answer that would be great as well
Have I got something on my face, SOLDIER?
  • #10,373
  • Jan 31, 2012 7:50am Jan 31, 2012 7:50am
Quoting bumapatria
i was about to ask this personally to our firend and good sheperd (teacher ) Tata , but i ugess its best if we get our info here for all:


if anyone else can answer that would be great as well
Ok guys, here u go, a question for all of u and especially swing traders.

I never trade longer then intraday. On rare occasions i leave the trade overnight but only if i secured profits and stop is on BE as trade configuration can be completely changed.
  • #10,374
  • Jan 31, 2012 7:59am Jan 31, 2012 7:59am
dow jones swing trade - still in scalp status. conditions work out for swing trade - and i use a BE+ stop loss after a intraday target is met.


TP is the target. i used lower tf for squeeze entry .
Attached Image (click to enlarge)
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Have I got something on my face, SOLDIER?
  • #10,375
  • Jan 31, 2012 8:14am Jan 31, 2012 8:14am
stopped +1.

didnt catch the maximum top. its fine - i can always trade another day.
no need to re-enter. must trade the plan.
Have I got something on my face, SOLDIER?
  • #10,376
  • Jan 31, 2012 8:22am Jan 31, 2012 8:22am
Quoting bumapatria
stopped +1.

didnt catch the maximum top. its fine - i can always trade another day.
no need to re-enter. must trade the plan.
Exactly mate!
  • #10,377
  • Jan 31, 2012 8:27am Jan 31, 2012 8:27am
Quoting bumapatria
i was about to ask this personally to our firend and good sheperd (teacher ) Tata , but i ugess its best if we get our info here for all:

so the question i wanted to ask is is there a time buffer in which you will close your trade? say your swing trading - but you are not profitable in the second day, and price did not hit your stop loss, woudl u stil lclose the trade? not that i have something like that now - but if it does occur as i do swing over 4+ days at a time id know what your opinion would be.

say price is really stalling on say...

Hello Buma,

I have a strategy that fits in your question.
70% of the time this kind of trade hits the TP in less than 24 hours, but sometimes it can take days (4-5).

Before trade like that, I created a "escape" plan to avoid preocuppation.
First I use small lots, since the TP is always 80 pips or more, and the drawdown can be around 300 pips.

Second, I created a virtual stop loss. Since I believe all my trades reach the TP (and they do, I can tell why later), I use this virtual stop loss to hedge my position. It is only psychological. If my trade is -50 pips for example, I hedge it and I can make my scalps in peace. Of course, the rule is not "wait for -50 and hedge". When I open the hedge position, I must be very cautios to not buy on top or sell on bottom. And small stop loss also.


With these two rules, If I join in trade that takes days to close, it not bother me. When the market went to my side, my hedge will be stoped on BE and the first trade will reach TP.

But it works for my strategy. You should backtest yours to see whats the better management for it. I don't believe in "blind strategy". I believe all strategy you should know how to manage it to minimize loss and maximize profit.

And if you trust in what you doing, the results will be much better!
I'm indeed a talking panda. How are you?
  • #10,378
  • Jan 31, 2012 8:27am Jan 31, 2012 8:27am
scalp on euro executed short.

if clears current level - will trail stop and go for 50% at 3145. stop to BE+1.


if boucnes here for 6 pips ill Take profit


demand seems consumed with more and more hits and pressure from selling...

trade taken due to division of time + support retest + supply zone retest
Attached Image (click to enlarge)
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Have I got something on my face, SOLDIER?
  • #10,379
  • Jan 31, 2012 8:30am Jan 31, 2012 8:30am
about what I said
"all my trades reach tp" its because I trade the retracement looking for 38,2% of fibo.

It always retrace, doesn't matter the situation. Intervention, tsunami, big trend, whatever, it always retrace. All you have to do to avoid big drawdown is NOT JOIN TOO SOON!
because if you do, you will get 10 pips tp risking 250.

and small lots (i use 0.1 or 0.2 for each 10k)
I'm indeed a talking panda. How are you?
  • #10,380
  • Jan 31, 2012 8:32am Jan 31, 2012 8:32am
Quoting Pandamonium
Hello Buma,

I have a strategy that fits in your question.
70% of the time this kind of trade hits the TP in less than 24 hours, but sometimes it can take days (4-5).

Before trade like that, I created a "escape" plan to avoid preocuppation.
First I use small lots, since the TP is always 80 pips or more, and the drawdown can be around 300 pips.

Second, I created a virtual stop loss. Since I believe all my trades reach the TP (and they do, I can tell why later), I use this virtual stop loss to hedge my position. It is only psychological. If my...
i think hedging to mitiigate risk is a good idea.. but u really need an unbiased mindset for that properly and be able to think for both ways of the trade.

what i see that you have "an escape plan" panda and i think tahts a great idea to implement. a swing trade can go dangerously against you and ill come up with some possible ideas to minimize the risk. there are many ideas and hedging is only one of them.
great traders can really hedge their way out. only done so once. that was back when my mind was fine - now im in a reset process for my mindset and psych.

okay panda thanks for the ideas -helped me !
Have I got something on my face, SOLDIER?
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