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Fail Better

  • #2,941
  • Feb 29, 2012 2:37pm Feb 29, 2012 2:37pm
Quoting Quidsey
Bit late now but yes I was waiting for an sfp, I believe Tom is still long @9885, I didn't take a trade.
I was wondering, when Tom tweeted his bid in this area because I did not find a relation to RRT or SFP - but he is the pro
At last I decided to stay out because of no SFP.
  • #2,942
  • Feb 29, 2012 2:50pm Feb 29, 2012 2:50pm
This Aussie looks like it's going to print a daily sfp which gives bias to the downside.

Looking to get a second position on short.

Silver has an incredible BEOB on the daily, finding support on the top of that previous range.

Where's that going?

http://i1084.photobucket.com/albums/...ER29022012.jpg
  • #2,943
  • Feb 29, 2012 2:54pm Feb 29, 2012 2:54pm
Quoting APeng
I was wondering, when Tom tweeted his bid in this area because I did not find a relation to RRT or SFP - but he is the pro
At last I decided to stay out because of no SFP.
Yeah, he did say it was aggressive and sometimes it pays.

We are paid to take risk.
  • #2,944
  • Edited 4:11pm Feb 29, 2012 3:10pm | Edited 4:11pm
Quoting Quidsey
I hope you're short, pin bar forming on the daily/double top, is this going back to 0600? might be end of month wierdness, profit taking.

Pipon, on my feed I didn't get an sfp on the hourly chart but I shorted that level anyway. There is one on the 4hr but Mr Wiz doesn't use 4hr, that's not to say that you might find it interesting and profitable.
I did not know that the Wiz does not trade 4H , and I did not short it as Im not sure what is a good setup and what is bad (hopfully will learn when reading this and joining a weminar or two)
Nice to know you got some pips here (there was an interday vsa setup so I grabed 24 pips , but I banked waaaay too early.... lol )

And for educationl purpose - -
Here is the 1H chart.... Is it a good setup or not?? , and why, if you have the time.... (the WIZ or anybody else that trade his method profitably)

Thanks !
Attached Image (click to enlarge)
Click to Enlarge Name: au292.jpg Size: 144 KB
  • #2,945
  • Feb 29, 2012 4:56pm Feb 29, 2012 4:56pm
O.K. one more question (Im here to learn)
It is the middle of the night but what do you think about thos eu level ??
here is the 4H chart and a squeezed 1H chart :


Thanks again !
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu4h.jpg Size: 142 KB
Click to Enlarge Name: eu1h.jpg Size: 141 KB
  • #2,946
  • Feb 29, 2012 6:29pm Feb 29, 2012 6:29pm
Quoting pipon
O.K. one more question (Im here to learn)
It is the middle of the night but what do you think about thos eu level ??
here is the 4H chart and a squeezed 1H chart :


Thanks again !
does not look too bad, but as you said: it is the middle of the night. if you take it, it makes sense to use half your normal position size.
  • #2,947
  • Mar 1, 2012 3:26am Mar 1, 2012 3:26am
Hi Tom,
I am wondering if, even with hindsight, there was any reasons why the EURGBP long trade at 8405 did not work. It did look like a decent and obvious level, being resistance since last December, multiple touches with some strong moves off the level. Seemed to tick all the boxes as discussed in last webinar. Have you done a post mortem or do you just move on?
Hugh.
  • #2,948
  • Mar 1, 2012 4:37am Mar 1, 2012 4:37am
Quoting human2
Hi Tom,
I am wondering if, even with hindsight, there was any reasons why the EURGBP long trade at 8405 did not work. It did look like a decent and obvious level, being resistance since last December, multiple touches with some strong moves off the level. Seemed to tick all the boxes as discussed in last webinar. Have you done a post mortem or do you just move on?
Hugh.
Hi Hugh,

I think it was a great trade. It was a good level with a fib retracement in line.

Obvioulsy, the key news led the Euro lower but most of the time you are going to get paid to stand infront of these levels. This time you didn't.
  • #2,949
  • Mar 1, 2012 4:56am Mar 1, 2012 4:56am
http://i1084.photobucket.com/albums/...SD01032012.jpg

...for richer or poorer
  • #2,950
  • Mar 1, 2012 7:03am Mar 1, 2012 7:03am
Just some observations from my note-book in February.

NZDUSD- Price ranging all month
4 SFP's, 3 with long term trend, 1 against.
Occuring best at price extremes.
Stop behind wick low/high never threatened.
Max Stop 20pips.
ATR around 80.

http://i1084.photobucket.com/albums/...SD01032012.jpg

USDCAD- Price ranging all month
8 SFP's, 4 with long term trend, 4 against.
Occuring best at price extremes.
Min Stop 20pips, tendancy to stop search.
ATR round 60.

http://i1084.photobucket.com/albums/...AD01032012.jpg
  • #2,951
  • Mar 2, 2012 11:34am Mar 2, 2012 11:34am
Quoting the_wizard
Hi Hugh,

I think it was a great trade. It was a good level with a fib retracement in line.

Obvioulsy, the key news led the Euro lower but most of the time you are going to get paid to stand infront of these levels. This time you didn't.

I can see that it was an important level and that price broke though, so it was likely that the level would turn to support and price would bounce off from the other side, but is it not too risky to trade without for example a pin bar touching the level as well?
  • #2,952
  • Mar 2, 2012 11:42am Mar 2, 2012 11:42am
....or nothing at all

http://i1084.photobucket.com/albums/...SD02032012.jpg

My short order was maybe asking to much, the double top guys shorting me out of the game.

I've been so tempted to just dive into this today but I've held off looking for a fill on a retest of 3282 but it's all over really.

What do they say?.... better to be out wishing you were in, than in wishing you were out.....

Have a good weekend.
  • #2,953
  • Mar 4, 2012 1:05pm Mar 4, 2012 1:05pm
Hi,
Does anybody knows if there is a webinar today ? (now ?)

I emailed tom to join the list but never got an answer.
  • #2,954
  • Mar 5, 2012 6:30am Mar 5, 2012 6:30am
I really like this thread. Very similar to how I trade.

Cable anyone?

http://my.jetscreenshot.com/6325/20120305-swfi-56kb
If it's too good to be true, it probably is.
  • #2,955
  • Mar 5, 2012 6:49am Mar 5, 2012 6:49am
Quoting pipon
Hi,
Does anybody knows if there is a webinar today ? (now ?)

I emailed tom to join the list but never got an answer.
There was yes, e-mail him again.
  • #2,956
  • Mar 5, 2012 8:01am Mar 5, 2012 8:01am
Hello traders,
I was wondering if anyone is in the same position of having a lot of trouble trading around work hours, obviously with this strategy you have to be watching the hourly charts and that is very difficult at work even though I do a desk job. I'm just really watching dailys at the moment and trying to trade them using SFPs and s/r but would be interested to know if anyone else is in a similar position and how they are managing it.
Cheers,
Mike
  • #2,957
  • Mar 5, 2012 9:11am Mar 5, 2012 9:11am
Watching Cable for a RR at 1.5902. Sorry cant postchart right now.
  • #2,958
  • Mar 5, 2012 10:11am Mar 5, 2012 10:11am
Watching crude at 103.54 level on daily - looks like a nice RR could form. Will post charts later.
  • #2,959
  • Mar 5, 2012 10:20am Mar 5, 2012 10:20am
Quoting Kalbar
Watching Cable for a RR at 1.5902. Sorry cant postchart right now.
agree, though theres a D1 level @ 1.5888 before it gets to 1.5902 though, @ 1.5890 is the right shoulder of a H1 quasimodo (deformed h&s). i am offered at both 1.5888 & 1.5902.
  • #2,960
  • Mar 5, 2012 10:35am Mar 5, 2012 10:35am
Quoting cmmichaels
Hello traders,
I was wondering if anyone is in the same position of having a lot of trouble trading around work hours, obviously with this strategy you have to be watching the hourly charts and that is very difficult at work even though I do a desk job. I'm just really watching dailys at the moment and trying to trade them using SFPs and s/r but would be interested to know if anyone else is in a similar position and how they are managing it.
Cheers,
Mike
My advise: Quit your job!
...
or follow Tom on twitter. Thatīs what I do at the moment as I am new to this trading method and it helps me a lot not to miss the fruity ones. Todays SFP on DAX was BURNER . I had 1 point drawdown and made 55. Tsche-tinggggggg !!!

(my job will be quitted soner or later for trading, hehe)
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