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  • #10,481
  • Feb 2, 2012 3:21am Feb 2, 2012 3:21am
Quoting T@rantula
Well thats why i prefer and expertise in intraday trading. Market conditions are such that LONGER TERM is not safe by any means.



Well done Buma! 3125 that is the level on my table also. 6 pips far from London projected low 3119 and the level where price is reacting ( 3125)..
im thankful it changed btw. would be really nuts if i cant short the dow or euro back where it trended...
would be a boring buy and hold...



thanks T. now its ur turn. i got nothing else but dow for today i guess - closed eur due to the conditions based on the chart arent so .. much as dow. so i decided to close it
Have I got something on my face, SOLDIER?
  • #10,482
  • Feb 2, 2012 3:25am Feb 2, 2012 3:25am
Break of 1.3112 could lead to 1.3066 but I hope we don't get there
I missed the short on 1.316 too so flat atm.
  • #10,483
  • Feb 2, 2012 3:29am Feb 2, 2012 3:29am
Quoting T@rantula
Well thats why i prefer and expertise in intraday trading. Market conditions are such that LONGER TERM is not safe by any means.
When I say longer term I am talking about your time frame. Those trades that you hold for a couple of hours or so, scaling out at key levels (as opposed to 5-15 pip scalps which is the only real thing I have had extended success with in forex). That is why I am posting here, to learn this type of trading from you Your strike rate and r:r seem pretty damn good and I like how you can have a position running for 20-60+ pips and still scalp at the same time.
  • #10,484
  • Feb 2, 2012 3:30am Feb 2, 2012 3:30am
Quoting bumapatria
T u told me that every timeframe is dimenssion of its own. or are you just taking a precaution?

just asking - not trying to diss u or anything


aded to dow shorts on break of 1x1 line.


target is the falling 1x1 line
Yes each timeframe is dimension of its own. But When u have rising 3 methods on daily chart and the price is giving u signals that it will retest 3230 you need to switch to lower TFs looking for long entries.

Switching to lower TFs gave clear short signals there were no longs by any means. If u follow the trend and trading candlesticks u NEED to watch HIGHER Tfs for a possible reversal/retracement. If you are TRADING the TREND on 1 TF only then u go just by that 1 particular TF. That is the difference between TREND ( 1 timeframe is enough) and MTF ( multple tf) trading.

My daily analysis showed a possible jump to 3215+. Then I switched to lower TF but no entry could be given as lower TFs showed shorts.
I neglected 1 TF trading and wanted to go with MTF ( raising the possible r:r) but as there was no long signals on shorter TFs I switched to range bars.

M pattern 1 2 3 breakout was exploited it was some 10 or 12 pips. Next time I looked at RB the pullback has already been completed and the price made continuation pattern.

And u know I never sell or buy before the retracement if I go with the trend. Thats why I missed the shorts this morning.
  • #10,485
  • Feb 2, 2012 3:34am Feb 2, 2012 3:34am
Long 314. Manual SL, target opened 1.318 -> 1.321 -> 1.324
  • #10,486
  • Feb 2, 2012 3:34am Feb 2, 2012 3:34am
Quoting Agro
When I say longer term I am talking about your time frame. Those trades that you hold for a couple of hours or so, scaling out at key levels (as opposed to 5-15 pip scalps which is the only real thing I have had extended success with in forex). That is why I am posting here, to learn this type of trading from you Your strike rate and r:r seem pretty damn good and I like how you can have a position running for 20-60+ pips and still scalp at the same time.
yeah his intraday massacre scares brokers off. i bet he changes every week lol! i honestyl cannot trade intraday. from day to day basis. maybe once in awhile... - but it feels away from comfort zone. everyone knows intraday is many peoples comfort zone and swing trading is a no - no. but one good thing about having a swing - u can use it as a risk cushion or loss cushion for ur scalps or other trades.
dont get used to the mindset "oh if i lost this trade i got this to cover" as taht will kill the original trades profit - but if you lose - u still have a cushion to save ur arse

Have I got something on my face, SOLDIER?
  • #10,487
  • Feb 2, 2012 3:37am Feb 2, 2012 3:37am
some rumours on my news feed




lets see waht happens tho - just some market talk rumor crap. not a trading signal!
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Have I got something on my face, SOLDIER?
  • #10,488
  • Feb 2, 2012 3:39am Feb 2, 2012 3:39am
Quoting bumapatria
but one good thing about having a swing - u can use it as a risk cushion or loss cushion for ur scalps or other trades.
dont get used to the mindset "oh if i lost this trade i got this to cover" as taht will kill the original trades profit - but if you lose - u still have a cushion to save ur arse
Hey mate, not really sure what you mean here. Care to elabourate with an example? Cheers

Edit - Actually I think I get what you are saying. If you have a longer term short and then take a short scalp that you exit for loss, don't start thinking you have to close the longer term trade due to the shorter term trades signal. This is good advice, I have been guilty of this in the past
  • #10,489
  • Feb 2, 2012 3:46am Feb 2, 2012 3:46am
Quoting Agro
Hey mate, not really sure what you mean here. Care to elabourate with an example? Cheers
im not sure even if the whole "cushion" idea is logical...
say u got a 120+ pips long on euro yesterday and still holding (just say).. and you want to go short on gbp usd with a stop loss of -40. and ur stop on GBP gets hit - but technically - ur long on euro is cushioning the blow. net profit of course is reduced - but it cushions ur loss..
it soudns stupid i think - not very logical - but works for me so far on managing risk.


another way is to lock ur euro long and go short and just hold that locked profit of maybe +110 (minus the spread), and now that profit is locked and that is a cushion that u can hold forever - scalp away - and when u feel u wanna close the lock - close both long and short for that locked profit.

i guess it helps the mentals that ur nenxt trade's possible loss is "absorbed" by profit and not straight hit to ur account.
but then again - it still not logical i think

lol
Have I got something on my face, SOLDIER?
  • #10,490
  • Feb 2, 2012 3:51am Feb 2, 2012 3:51am
Quoting BrunargarFx
Long 314. Manual SL, target opened 1.318 -> 1.321 -> 1.324

break, retest, lets see
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  • #10,491
  • Feb 2, 2012 3:59am Feb 2, 2012 3:59am
I now have a sym triangle on M5
I am awaiting for breakoout for either closing Long and go short or keep my Long open
Quoting huskyboy
break, retest, lets see
  • #10,492
  • Feb 2, 2012 4:01am Feb 2, 2012 4:01am
E: 3140
S: 3117
TP:3240

Reasons:

EU hit all my lower bearish level counts w/o continuation further. BB break + TL break+ rising 3 methods on daily.

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  • #10,493
  • Feb 2, 2012 4:06am Feb 2, 2012 4:06am
Quoting T@rantula
E: 3140
S: 3117
TP:3240

Reasons:

EU hit all my lower bearish level counts w/o continuation further. BB break + TL break+ rising 3 methods on daily.

Attachment

I'm indeed a talking panda. How are you?
  • #10,494
  • Feb 2, 2012 4:06am Feb 2, 2012 4:06am
Quoting BrunargarFx
I now have a sym triangle on M5
I am awaiting for breakoout for either closing Long and go short or keep my Long open
  • #10,495
  • Feb 2, 2012 4:07am Feb 2, 2012 4:07am
Quoting T@rantula
E: 3140
S: 3117
TP:3240

Reasons:

EU hit all my lower bearish level counts w/o continuation further. BB break + TL break+ rising 3 methods on daily.

Attachment

+14 scaling out now ( close to 3160 ) Moving stops to BE. We need to pass 3160, thats why I scaled out + stops to BE!


P.S: As i scaled out im moving my stops to 3107 leaving the trade opened

E:3140 ( scaled out 3154)
S:3107
TP:3240

My intraday trade!
  • #10,496
  • Feb 2, 2012 4:33am Feb 2, 2012 4:33am
Hehe
  • #10,497
  • Feb 2, 2012 4:34am Feb 2, 2012 4:34am
Quoting huskyboy
break, retest, lets see
+ 42, see you all later
  • #10,498
  • Feb 2, 2012 4:34am Feb 2, 2012 4:34am
Well done (move to BE better safe than sorry),
still in my trade, reloaded at 1.3125

Quoting T@rantula
+14 scaling out now ( close to 3160 ) Moving stops to BE. We need to pass 3160, thats why I scaled out + stops to BE!


P.S: As i scaled out im moving my stops to 3107 leaving the trade opened

E:3140 ( scaled out 3154)
S:3107
TP:3240

My intraday trade!
  • #10,499
  • Feb 2, 2012 4:34am Feb 2, 2012 4:34am
Spider's den.

The only place with REAL traders !

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  • #10,500
  • Feb 2, 2012 4:35am Feb 2, 2012 4:35am
OMG!!!!
Certainly wasnt expecting this!!!!
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