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  • #5,421
  • Feb 24, 2012 3:02am Feb 24, 2012 3:02am
Quoting X-Man
Today on E/U i would say that it would be a bullish day since is broke that daily resistance yesterday.
look out for longs today
it seems so. since g/u already show quite strong bullish. i have ride g/u for 17pips lol. but for e/u still waiting. i am not sure it will pass daily r1
  • #5,422
  • Feb 24, 2012 3:05am Feb 24, 2012 3:05am
Quoting emmanuel7788
Hi,
Here's one for newbies to practice.
NZDUSD
- do you see a sell setup?
- would you trade this pair now?
Hi Emmanuel,
I see a bearish 4 hr engulfing candle and the 1 hr green TDI is ready to cross the red. I'd wait for price to go 5 pips below the low of the 4 hr bearish candle & enter a sell.
  • #5,423
  • Feb 24, 2012 3:05am Feb 24, 2012 3:05am
Hi Xman,

It'd be great if you can post your 4H trades. I recall that I saw the same three setups and I assume that the losing one for you is EURAUD. However, I don't know how you managed to get 130 pips out of USDCAD and AUDUSD. I got only 26 pips out of AUDUSD and my USDCAD was closed at the last 4H candle (FXCM server - 1 hour ago) due to the color change in both cases.

Thanks!

Quoting X-Man
My weekly report :

Total trades on 1H TF : 5 trades
won 3 trades , lost 2 trades

Pips won : 110
pips lost : (33)
Total : 77

Total trades on 4H TF : 3 trades
Won 2 and lost 1 trade

Pips won : 130
pips lost : (5)
Total : 125


Total pips for the week : 202 pips
and made a bit of pips scalping the market as well.


  • #5,424
  • Feb 24, 2012 3:06am Feb 24, 2012 3:06am
Quoting nunrgguy
Note the session opens

http://i1236.photobucket.com/albums/...gguy/opens.jpg

what session open to note?
all I see is a 50pips H1 candle.
nice isn't it. ... 50pipsSL/50pipsTP in double quick time!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #5,425
  • Feb 24, 2012 3:07am Feb 24, 2012 3:07am
close g/u. taking only 14pips profit . since the price slow down.

x-man how do you see candle bar right now? what do you think of PA?

...ouch. the price continue up for g/u. i shouldnt close that trade lol
  • #5,426
  • Feb 24, 2012 3:18am Feb 24, 2012 3:18am
Quoting ljin
close g/u. taking only 14pips profit . since the price slow down.

x-man how do you see candle bar right now? what do you think of PA?

...ouch. the price continue up for g/u. i shouldnt close that trade lol

what I see is UK GDP forecast is positive and better than many expects.

so speculative, GBP beats up EUR, GU goes UP. EU slows down a little until the beating stops.

Please post your chart showing your trade. We see more on your chart and help explain to you how to do better than 14pips.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #5,427
  • Feb 24, 2012 3:22am Feb 24, 2012 3:22am
Entered Long at 1.3386, sl at 1.3356

Lets see how it rides out!
  • #5,428
  • Feb 24, 2012 3:27am Feb 24, 2012 3:27am
Quoting emmanuel7788
what I see is UK GDP forecast is positive and better than many expects.

so speculative, GBP beats up EUR, GU goes UP. EU slows down a little until the beating stops.

Please post your chart showing your trade. We see more on your chart and help explain to you how to do better than 14pips.
ah. i didnt read the news.

here . left is e/u (i didnt enter because i feel the pa is not enough for me to go long yet) right is g/u. i enter after the pa move pass the ma
Attached Image (click to enlarge)
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  • #5,429
  • Feb 24, 2012 3:36am Feb 24, 2012 3:36am
Quoting emmanuel7788
what session open to note?
all I see is a 50pips H1 candle.
nice isn't it. ... 50pipsSL/50pipsTP in double quick time!


Each box is a trading session. Therein is the high and the low of the session and the line in the middle is the open...yeah??? Just a graphic to help people see, so why the sarcasm?.

Ever heard of buying above the open and selling below the low...what did the previous session do...when and where is fresh liquidity coming into the market...
  • #5,430
  • Feb 24, 2012 3:39am Feb 24, 2012 3:39am
Here are my charts.

A/U - i was going to close it for 60pips but since E/U was very bullish yesterday i decided to set a 100 pip TP and went off to bed and usually wen i wake up i close for whatever i have. I woke up with a smile since my target was hit.
And as you can see all were blue candles thats what made me keep the trade open longer. If one candle had to close at red i wouldve exited manually

U/C - this pair hardly produces pips so when i have many trades running i close the less reliable pairs for whatever i can get and keep the good pairs running. i got 30 pips out of this pair. I almost hate this pair lol

E/A - This pair bounced off the 200EMA so i closed at -5 pips.

All these trades a i took yesterday was not A+ setups.
I just tried to get what pips i could. I didnt even expect 100 pips from A/U.
I was looking for a small targets when i took the trades initially.
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X-man the legendary conqueror of markets
  • #5,431
  • Feb 24, 2012 3:39am Feb 24, 2012 3:39am
oh yea btw, the news on gbp is not that good right? PBI data so far than forecast.
  • #5,432
  • Feb 24, 2012 3:42am Feb 24, 2012 3:42am
I share 3 of my trades with you.
The first one was a losing trade of EURAUD. I entered according to my rules but as I could not follow the trade it hit my SL. If I could follow it I would exit it when the APBB color change happened.

The other 2 are AUDUSD and NZDUSD. I know they are highly correlated, but even then I keep monitoring both.
The trades were according to my rules. The half of the trades were closed when the pirce seemed to be hesitating and the rest hit TP.

I consider my trading approach as S3 with some minor changes to fit my personality and life.
thrax
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURAUD_H4_strategy name_20120224103354.gif Size: 27 KB
Click to Enlarge Name: AUDUSD_H4_strategy name_20120224103358.gif Size: 28 KB
Click to Enlarge Name: NZDUSD_H4_strategy name_20120224103400.gif Size: 27 KB
  • #5,433
  • Feb 24, 2012 3:42am Feb 24, 2012 3:42am
Quoting ljin
close g/u. taking only 14pips profit . since the price slow down.

x-man how do you see candle bar right now? what do you think of PA?

...ouch. the price continue up for g/u. i shouldnt close that trade lol
Why did you only take 14pips. look at how bullish G/U.

Its gone up for around 40 pips now
X-man the legendary conqueror of markets
  • #5,434
  • Feb 24, 2012 3:47am Feb 24, 2012 3:47am
Nunrgguy

Where did you enter long on A/U please post me a chart.
You couldve gotten easy 80 to 100 pips on that trade
X-man the legendary conqueror of markets
  • #5,435
  • Feb 24, 2012 3:49am Feb 24, 2012 3:49am
Quoting X-Man
Why did you only take 14pips. look at how bullish G/U.

Its gone up for around 40 pips now
well because i scare the price will stop going up, and i close when the pa go down below the open on next candle around 10pips if i werent wrong thats why i am taking pips for whatever i have.
and 1 more thing is because i dont know whether the pa will continue going up or starting to reverse.
bad decision
  • #5,436
  • Feb 24, 2012 3:56am Feb 24, 2012 3:56am
Quoting nunrgguy


Each box is a trading session. Therein is the high and the low of the session and the line in the middle is the open...yeah??? Just a graphic to help people see, so why the sarcasm?.

Ever heard of buying above the open and selling below the low...what did the previous session do...when and where is fresh liquidity coming into the market...
Hi nunrgguy,

There was not sarcasm intended. Since you took it that way, then I must sincerely apologise. English is not my first language.

Your post ... "Note the session opens" ...with a chart,

was rather vague when I read it. I thought it was already LO mins ago.

Now that you mention about liquidity flow, I am sure members reading this now understand what you meant.

Thank you.

Kind regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #5,437
  • Edited 4:20am Feb 24, 2012 4:05am | Edited 4:20am
Quoting X-Man
Why did you only take 14pips. look at how bullish G/U.

Its gone up for around 40 pips now
I didn't m8: the graphic was purely to show PA around session opens.
Been getting hammered this week tbh trying to get a net-short long term position built on EU so back to day trading for a bit to rebuild some risk.

For example, when day trading how often if London is strongly up will NY go the opposite way? Maybe some light bulbs may go off re whether 'trend' as such actually exists and maybe FX is more to do with liquidity in markets??

'Monkey' example: does the trader on desk A in London with a bunch of orders to fill from Rolls Royce, Thompson Holidays, a bunch of banks and a shed load of retailers at the best price he can get have anything to do with what happened with a completely different trader 8 hours ago on the other side of the world getting the best price he could get for a different set of institutions??

BTW, for the idiots (sorry) who will pipe up and tell me I need to learn things, as has happened before on another thread, these are rhetorical questions. I don't require an answer.

Only trade for me this morning was on GU which was opened on the 15 minute thrust above the open (yes I did gauge with the 5, tdi etc - it's as good a reason as any to get in). Now closed out, although looks may go further....when on another day might I now thing about shorting??? Maybe after NY open...
  • #5,438
  • Feb 24, 2012 4:06am Feb 24, 2012 4:06am
Quoting emmanuel7788
Hi nunrgguy,

There was not sarcasm intended. Since you took it that way, then I must sincerely apologise. English is not my first language.

Your post ... "Note the session opens" ...with a chart,

was rather vague when I read it. I thought it was already LO mins ago.

Now that you mention about liquidity flow, I am sure members reading this now understand what you meant.

Thank you.

Kind regards,

Apologies then...I thought I was being perfectly clear with a suggestion to 'note the session opens'

  • #5,439
  • Feb 24, 2012 4:18am Feb 24, 2012 4:18am
Thanks for showing this

The difference was that I entered on the second blue candle (not clear if you entered on the first or second), but at nearly the high. So I missed about 30 pips. The bigger thing is I don't know how to set TP. I set it to 100 pips of MY entry, which was about the last swing high.

When I waited until it closed with red, then I lost another 40 pips from top. In the end, I got only 26 pips

Quoting X-Man
Here are my charts.

[color=Blue][size=3]A/U - i was going to close it for 60pips but since E/U was very bullish yesterday i decided to set a 100 pip TP and went off to bed and usually wen i wake up i close for whatever i have. I woke up with a smile since my target was hit.
And as you can see all were blue candles thats what made me keep the trade open longer. If one candle had to close at red i wouldve exited manually

U/C - this pair hardly produces pips so when i have many trades running i close the less reliable...
  • #5,440
  • Feb 24, 2012 4:34am Feb 24, 2012 4:34am
I'm in this trade, TDI cross and blue candle cross, not to sure about this trade as it has been hanging for a while, looked like a good setup when i got in, any comments.
Attached Image (click to enlarge)
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