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  • #5,761
  • Feb 29, 2012 6:50am Feb 29, 2012 6:50am
Quoting robthorp
Lol so did i, i attended the course in london last october/november
Hi mate where in london you from??
  • #5,762
  • Feb 29, 2012 6:55am Feb 29, 2012 6:55am
Quoting robthorp
Is it possible to get anyones thoughts on, should i take my profits i have on G/U before NewYork open?
Anyones views appreciated! thanks, rob

that depends on where your entry and initial SL.
getting into a trade is not easy, getting out is far too easy.

think of how to get some profit and get a free trade to ride out the NYO.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #5,763
  • Feb 29, 2012 7:03am Feb 29, 2012 7:03am
This afternoon we have the GDP number, Chigaco PMI and Bernanke testifieing, these could turn out to be market movers in USD pairs
  • #5,764
  • Feb 29, 2012 8:34am Feb 29, 2012 8:34am
Accepting that the news might alter things my analysis is leaning towards Long trades on the Euro.

1.We have seen the DPivot hit 5 times without a clear close below.
2.We have bounced twice off of the 60MA.
3.We have air kissed a trendline (see screenshot)
4.We have touched the 50% Fib
5.Stoch's are oversold
6.TDI is curling and about to cross
7.The major trend is Long
8. Had one good pullback candle (although subsequent PA was not convincing)

Comments please anyone?
Attached Image (click to enlarge)
Click to Enlarge Name: eu 1h.gif Size: 42 KB
  • #5,765
  • Feb 29, 2012 8:38am Feb 29, 2012 8:38am
Did not trade EU H1 today.....made a couple of EU M15 scalp trades, one for +25 and one for +30 based on price moving away from the double tops (extended white line at top of chart). I moved to the M15 chart because trading volume is usually down at the end of the month. Still in a long GU trade but locked in for profit.
Attached Image (click to enlarge)
Click to Enlarge Name: 2012.2.29 EU M15.gif Size: 82 KB
  • #5,766
  • Feb 29, 2012 8:47am Feb 29, 2012 8:47am
Quoting shoot2scoot
Accepting that the news might alter things my analysis is leaning towards Long trades on the Euro.

1.We have seen the DPivot hit 5 times without a clear close below.
2.We have bounced twice off of the 60MA.
3.We have air kissed a trendline (see screenshot)
4.We have touched the 50% Fib
5.Stoch's are oversold
6.TDI is curling and about to cross
7.The major trend is Long
8. Had one good pullback candle (although subsequent PA was not convincing)

Comments please anyone?
Hi, i notice your candles painted is very much different from mine. I am using VantageFX. the pullback candle for me is red, but yours is blue.
  • #5,767
  • Feb 29, 2012 8:54am Feb 29, 2012 8:54am
Quoting boxingtrader
Hi, i notice your candles painted is very much different from mine. I am using VantageFX. the pullback candle for me is red, but yours is blue.
Boxingtrader Hi, you are quite right. I run two charts for the Euro and tend to load the extra indicators onto the second chart with the Japanese candles. This is the one I used for the screenshot. Sorry for any confusion!

PS It doesn't stop the candle being a pullback in my opinion! Lol
  • #5,768
  • Feb 29, 2012 9:08am Feb 29, 2012 9:08am
Quoting Phx62
Did not trade EU H1 today.....made a couple of EU M15 scalp trades, one for +25 and one for +30 based on price moving away from the double tops (extended white line at top of chart). I moved to the M15 chart because trading volume is usually down at the end of the month. Still in a long GU trade but locked in for profit.
i enter long on GU after breaking out Asian Session High With TDI Cross and close it with loss after SHort TDI cross ... and then Enter Short with Failure Day high + Pullback candle + TDI Cross SL at Day High .. and loss again .. can you explain please how to gain confidence to hold a position ...
  • #5,769
  • Feb 29, 2012 9:08am Feb 29, 2012 9:08am
wow a large spike..
  • #5,770
  • Feb 29, 2012 9:13am Feb 29, 2012 9:13am
Guys when the X-Man comes on and say go short you must go short.
They dont call him the conqueror of the markets for nothing LOL

Had my E/U trade open the entire day but this last spike hit my 65 pips target clean.

Happy pippin guys

Patience and discipline
X-man the legendary conqueror of markets
  • #5,771
  • Feb 29, 2012 9:20am Feb 29, 2012 9:20am
Hey Xman,

Got a question. For TP, you mentioned we should put it at 1:1, 1:2, 1:3.. But I do not know if I did it correctly. I use MT4 so if I wanna short, I open 2 trades. So when I hit 1:1, let's say my sl is 25 so I close the first trade at +25pips which is 1:1. How about the 2nd trade? Do I bring my SL to breakeven or let it stay as it is until it hit 50pips?
  • #5,772
  • Feb 29, 2012 9:22am Feb 29, 2012 9:22am
Quoting X-Man
Guys when the X-Man comes on and say go short you must go short.
They dont call him the conqueror of the markets for nothing LOL

Had my E/U trade open the entire day but this last spike hit my 65 pips target clean.

Happy pippin guys

Patience and discipline
I did , was sweating the entire day on the Aud/usd and EU.....but now its tanking nicely ..

Good Job X-....
  • #5,773
  • Feb 29, 2012 9:25am Feb 29, 2012 9:25am
Quoting X-Man
Guys when the X-Man comes on and say go short you must go short.
They dont call him the conqueror of the markets for nothing LOL

Had my E/U trade open the entire day but this last spike hit my 65 pips target clean.

Happy pippin guys

Patience and discipline
Wow, congratulations, I need patience, because I exit trade too early.
  • #5,774
  • Feb 29, 2012 9:26am Feb 29, 2012 9:26am
Quoting EvoPips
Hey Xman,

Got a question. For TP, you mentioned we should put it at 1:1, 1:2, 1:3.. But I do not know if I did it correctly. I use MT4 so if I wanna short, I open 2 trades. So when I hit 1:1, let's say my sl is 25 so I close the first trade at +25pips which is 1:1. How about the 2nd trade? Do I bring my SL to breakeven or let it stay as it is until it hit 50pips?
well you dont close your entire trade at 1:1 and then open another trade. you close half of it and then the other half you close at 1:2. It must be the same trade. You can bring Sl to BE when you over 35 pips

I seldom do that as most of the time i close everything just above 1:1. The only time ill do that is when im uncertain about whats going to happen.

today i was confident about where Pa is going. My analysis of E/U this morning was flawless so i closed everything at 65 and my SL was at 30pips
X-man the legendary conqueror of markets
  • #5,775
  • Feb 29, 2012 9:28am Feb 29, 2012 9:28am
....confirming you are looking at 4H chart????
Good call...congrats!!

Quoting X-Man
By the way im holding short on E/U.
Pa shows me a double top while the TDI shows me a lower high. (bearish divergance)
Stay alert theres lots of news today
  • #5,776
  • Feb 29, 2012 9:30am Feb 29, 2012 9:30am
Quoting HITMAN
i enter long on GU after breaking out Asian Session High With TDI Cross and close it with loss after SHort TDI cross ... and then Enter Short with Failure Day high + Pullback candle + TDI Cross SL at Day High .. and loss again .. can you explain please how to gain confidence to hold a position ...
Go to the video link posted by X-Man at post #5599 and watch it several times to understand what is being taught.....Rick / Dcginc is a professional trader and knows what he is talking about in the video....confidence comes from believing in your system.....
  • #5,777
  • Feb 29, 2012 9:31am Feb 29, 2012 9:31am
Hi X-MAN,

I made 45 pips today thank you. First trade i entered same as you but the price pulled back so closed for 10 pips profit. Opened second short at the bounce and closed at round number 1.3400 for 35 pips. Over all it good day.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.JPG Size: 38 KB
  • #5,778
  • Feb 29, 2012 9:31am Feb 29, 2012 9:31am
Still holding my short will exit @ 200EMA or If I see PA tell me otherwise
  • #5,779
  • Feb 29, 2012 9:33am Feb 29, 2012 9:33am
Quoting X-Man
Guys when the X-Man comes on and say go short you must go short.
They dont call him the conqueror of the markets for nothing LOL

Had my E/U trade open the entire day but this last spike hit my 65 pips target clean.

Happy pippin guys

Patience and discipline
Hi X-Man,

I’ve got a question for you.
I guess you opened the EU trade at 1.3465 or 1.3459, then went at 1.3421 (aprox. +40pips) after 2-3 candles, then retraced at 1.3468 (aprox. -45pips). So the point is how come you kept the trade opened with a retrace of 45pips and with a report to come(Home sales)? As I know the price during a report can go everywhere depends of the results.
Thanks a lot..
  • #5,780
  • Feb 29, 2012 9:35am Feb 29, 2012 9:35am
Quoting HITMAN
i enter long on GU after breaking out Asian Session High With TDI Cross and close it with loss after SHort TDI cross ... and then Enter Short with Failure Day high + Pullback candle + TDI Cross SL at Day High .. and loss again .. can you explain please how to gain confidence to hold a position ...
i hope one of Seniors will explain this
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 44 KB
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