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  • #598,021
  • Feb 22, 2012 1:28am Feb 22, 2012 1:28am
I am short EU @ 1.3244 based on head and shoulder formation on 1 hour chart and overbought areas with some indicators. SL 50 pips and TP open

Gregben
  • #598,022
  • Feb 22, 2012 1:32am Feb 22, 2012 1:32am
Quoting KiwiTrada
Yes I agree, I traded demo for 3 years as part of group, refine refine refine trade plans, was doing ok, went live, crap first account wiped in no time, bad entries, impatience, blah blah, back to demo refined blah blah, 2nd live account, went ok for awhile, lost chunk of account, by now was bordering on nervous wreck, felt the world, brokers, banks even the neighbours wife and dog was after my money, arrrgh so went right back to beginning, dumped most indicators, pretty much everything I thought I had learnt, and started again, micro account, mini...
yep I've been there and got all kind of torture from the market and lots of pain, hoping and wishing lol and an other trader from the other side is doing the samething wishing and praying lol.
  • #598,023
  • Edited 1:46am Feb 22, 2012 1:32am | Edited 1:46am
Quoting ForUs
Any advice for a newcomer...just trying to find my way into consistent profits hoever small!
I use Alpari UK charts, so these steps are based on these chart findings., and it's based on 4hr candles. I only use these 4 lines. 00,25,50 and 75. The main ones, 00 and 50. If u start using fibo and trend and etc etc, it will just confuse you. Remember, 20 pips a day everyday id possible, and after every 3 months u can double your lots, then that simple 20 pip trade actually becomes a 40 pip trade. Then after 3 months it becomes a 60 pip trade, etc etc. Once you have placed your trades, switch off your computer and walk away. Come back after 2 hours. It's difficult at first, but get into that habit.

STEP 1: Before the 8am candle can go anywhere, it has to take out the low and high of the 4am.
So if 4am is green, 8am must touch low before I look to buy upwards
So if 4am is red, 8am must touch high before I look to sell downwards

STEP 2: If 8am moved in same direction as 4am, but it did not take out the low or high, then apply STEP 1 to the 12pm candle.
So 4am was green, and 8am is also green, but 8am did not take
4am low, it means that the market will be drawn back down to the
4am low. So 12pm will be red candle. I now know
that I must place a sell. So when 12pm opens a sell at market.

The opposite if 4am was red and 8am red but 8am did not take out
4am low. I look for 12pm to be green, so I place a buy at market
when 12pm opens.

STEP 3: Stops should be placed if you want to preserve your capital. With this method a 20 pip stop is more than suffice.

STEP 4: Your target will be the 4am candle high or low, which was not touched.

I personally take 3 lots at a time. My first lot target is 15 pips. This
way my spread for my 3 lots is paid, and I'm like 10 pips in profit.
My 2nd lot target is that position of the 4am high/low which was
not hit.
My 3rd lot I just let ride till end of the week, as this setup normally
reversal in the market.

STEP 5: If your 2nd and 3rd lots get stopped out at some time that evening as price did not go to the 4am target, then I know that the next day at 8am I must enter toward that previous days 4am target.

STEP 6: If midnight and 4am candles are both green, and 4am closes opposite a round number. That's a main number hundred number, I will immediately enter in the opposite direction as the 2 previous candles.

STEP 7: Enjoy life
  • #598,024
  • Feb 22, 2012 1:37am Feb 22, 2012 1:37am
careful with shorts, euro is presently treading near daily pivot(pink line) and showing good support at the moment
Attached Image
  • #598,025
  • Feb 22, 2012 1:38am Feb 22, 2012 1:38am
Quoting myk
Anyone considering a long here ?
looks like my consideration was right. this candle should close above 3250 for further gains
MMMYYYKKK
  • #598,026
  • Feb 22, 2012 1:40am Feb 22, 2012 1:40am
Quoting myk
Anyone considering a long here ?
Took one at 1.3225 a bit earlier today. For me 1 hour channel looks like were headed up to yesterdays daily high. Manual tp and sl but looking at 1.3290.
  • #598,027
  • Feb 22, 2012 1:41am Feb 22, 2012 1:41am
Which time frame ?
  • #598,028
  • Feb 22, 2012 1:41am Feb 22, 2012 1:41am
Quoting KillerWhale
Why do you only sell the EU?
bloody frankie the bitch

Many reasons, most traders dont like the idea of just selling, but I think a.she a turd and belong in a sewer value ooooooo
b.I prefer only concentrate on sell, triggers patterns etc etc

for me trading is war, I have pick my side "bears" and I only support theem if no sell triggers or weighted buy triggers, I go beach, and relax

Having say that, I do ride swissy bull feel sorry for her bears but business is business war is war.

Buy and sell my ladies is do my head in, so just sell them, it keep me sane "i think"
If you are new to Forex? Say Goodbye to your account!!
  • #598,029
  • Feb 22, 2012 1:43am Feb 22, 2012 1:43am
Quoting KiwiTrada
bloody frankie the bitch

Many reasons, most traders dont like the idea of just selling, but I think a.she a turd and belong in a sewer value ooooooo
b.I prefer only concentrate on sell, triggers patterns etc etc

for me trading is war, I have pick my side "bears" and I only support theem if no sell triggers or weighted buy triggers, I go beach, and relax

Having say that, I do ride swissy bull feel sorry for her bears but business is business war is war.

Buy and sell my ladies is do my head in, so just sell them,...
I Like your idea of trading one side even i am a big fan of bears lol
MMMYYYKKK
  • #598,030
  • Feb 22, 2012 1:44am Feb 22, 2012 1:44am
Quoting 3in1coffee
Here's my trade. Have been waiting forever. Just place BE+1.

Price seems to be respecting the two ascending trend line base on H1 chart that's why I place my trade with tight SL.
Added another trend line. TP 3270+ - 3280+
Attached Image (click to enlarge)
Click to Enlarge Name: 22 Feb 12 EU 2.png Size: 44 KB
  • #598,031
  • Feb 22, 2012 1:45am Feb 22, 2012 1:45am
Quoting arem24
Took one at 1.3225 a bit earlier today. For me 1 hour channel looks like were headed up to yesterdays daily high. Manual tp and sl but looking at 1.3290.
i entered around 3236 but there wasnt much reason except watching price action . n i dont see ny valid head n shoulder so i guess its just a trap to keep ppl bearish
MMMYYYKKK
  • #598,032
  • Feb 22, 2012 1:46am Feb 22, 2012 1:46am
Closed out all of my remaining long positions today in anticipation that we will see consolidation or even a dip over the next couple of days. However, risk buying should resume at the start of next week.

About a 20% increase in capital for the past ten days of trading. Not bad, but now it sucks as I do not foresee any trades to be made for the rest of the week.

As a rule I never sell dips in an uptrend or buy rallies in a downtrend. Just not worth the risk.
  • #598,033
  • Feb 22, 2012 1:48am Feb 22, 2012 1:48am
I really don't understand how anyone could short this until it gets back up to 1.3280-1.330 unless you are scalping small pips. Seems like poor entry choices to me and forcing trades. Just my .02
  • #598,034
  • Feb 22, 2012 1:50am Feb 22, 2012 1:50am
price needs to take out 3275 if there is ny upside
MMMYYYKKK
  • #598,035
  • Feb 22, 2012 1:52am Feb 22, 2012 1:52am
Quoting KiwiTrada
bloody frankie
i have closed my short for -1 pip after seeming DAX open gap
Mohan
  • #598,036
  • Feb 22, 2012 1:57am Feb 22, 2012 1:57am
Quoting spiritbreezer
I use Alpari UK charts, so these steps are based on these chart findings., and it's based on 4hr candles. I only use these 4 lines. 00,25,50 and 75. The main ones, 00 and 50.

[...]

STEP 7: Enjoy life
That's something!! Simple perfect! But why are you posting this here in this thread? No one will listen. You should post a chart with twenty different MA's, Fibos and MACD's to be noticed
  • #598,037
  • Feb 22, 2012 1:58am Feb 22, 2012 1:58am
pre-market spike nothing much to it.
  • #598,038
  • Feb 22, 2012 1:58am Feb 22, 2012 1:58am
Quoting myk
looks like my consideration was right. this candle should close above 3250 for further gains
If that be so, them the news coming out next should confirm it, and the next candle, 9am, must bounce of the 50 upwards. I'm suspect off the next hour candle closing bear just above 50, then 2 hours from, 10am candle, drops from 50 down to 00.
  • #598,039
  • Feb 22, 2012 1:59am Feb 22, 2012 1:59am
Quoting fiftylots
That's something!! Simple perfect! But why are you posting this here in this thread? No one will listen. You should post a chart with twenty different MA's, Fibos and MACD's to be noticed
I'll tell you what. Once my project is up and running, and I'm trading 50 lots at a time, then I'll be sure to do so lol

Thanx anyways
  • #598,040
  • Feb 22, 2012 2:01am Feb 22, 2012 2:01am
Quoting spiritbreezer
If that be so, them the news coming out next should confirm it, and the next candle, 9am, must bounce of the 50 upwards. I'm suspect off the next hour candle closing bear just above 50, then 2 hours from, 10am candle, drops from 50 down to 00.

day dreaming is bad. sure we will got 1.34-1.38 but not today bcoz i have sold today
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