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Do you think it is too late to jump in G/U short? Support is at 5750 which is pretty close.
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Quoting Flatrader
Do you think it is too late to jump in G/U short? Support is at 5750 which is pretty close.
200 EMA just below on H4.I'd wait.
Quoting robthorp
Congrats on your trades, not to put a dampner on it, but something to consider,
E/U to G/U and E/Y to U/Y have roughly a 90/100 hourly correlation.
While E/Y and G/Y have a 96 hourly correlation.
Bearing in mind 100 is a perfect correlation, by placing all 5 of these trades you are enevitably exposing your risk to the market X5, as more than 90% they will follow the same path.

Just food for thought, well done though
http://www.forexticket.co.uk/en/tools/01-01-correlation
Thats a thing I'm aware of and always look in context and at correlation between these.Thats why my lot allocation was minor for all but E/U(I knew I was basicly close to 5x exposed).
Good point though.
Quoting Flatrader
Do you think it is too late to jump in G/U short? Support is at 5750 which is pretty close.
Hi,

There is a higher risk if u jump in now. Its testing 200ma on 4h TF.

But there is still room to head down to 1.57000 if 200ma breaks.
Quoting sarmatius
Also short on E/Y,U/Y,GY per TMS H4 rules.
Would you please share your charts? Per TMS rules you went short. I think per S3 H4 rules this would rather have been longs (break of lower blue band + uptrend).

thx, gary
Quoting gms
Would you please share your charts? Per TMS rules you went short. I think per S3 H4 rules this would rather have been longs (break of lower blue band + uptrend).

thx, gary
Later in the evening when I get home, as I'm at the office now...
Quoting Flatrader
Do you think it is too late to jump in G/U short? Support is at 5750 which is pretty close.
Hi,

if you did not enter at LO, then it is very late now to jump into this. The H4 price correction can be very violent so you will not find a good place for a logical initial stop loss. Anyway, today move already exceed it 100-days average of about 110 pips. Only some significant economic event will bring this further down.
Now is to wait to see how this pair will rest and to see price action for a price pullback.
I would look at it around GMT1500 when the euro markets close.

Look at W1 chart, is last week' pin-bar at 1.5900 nice setup for swing trading?
Remember, always get a better price for your trades, sell high ...buy low.

rgds,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
Hi,

if you did not enter at LO, then it is very late now to jump into this. The H4 price correction can be very violent so you will not find a good place for a logical initial stop loss. Anyway, today move already exceed it 100-days average of about 110 pips. Only some significant economic event will bring this further down.
Now is to wait to see how this pair will rest and to see price action for a price pullback.
I would look at it around GMT1500 when the euro markets close.

Look at W1 chart, is last week' pin-bar at 1.5900 nice setup...
hello emmanuel,
just want to ask something regarding 100-days move. how do you count that? is not it only around 70 from market opening to now?
Sarmatius, Actually I want to congratulate on your Results and your Post. Not so much as even in the event not all your summations were correct to the implementation of the Strategy. That will come with Experience and you will learn from your mistakes, as long as you keep your positive attitude. In your Post You say "I feel indifferent" in regard to your win. May seem like a small reference but it has much higher implications. My advice for what its worth is PRINT your Post and keep it next to your Computer for future reference. And when you lose say 4 trades in a row, look at your Print out. As your statement was your Conscience at work, imagine the results once you have convinced your sub conscience that your written words are what you truly believe. And what were your words again, With my take after your words.{ }


"Went short on E/U, G/U per S3 rules H1 {Followed Trading Rules}
Also short on E/Y,U/Y,GY per TMS H4 rules. {Deja Vu }

My conclusion and my take on this: { I Know what I am doing and my Strategy makes me believe I need to enter when this occurs}
TRUST YOUR SYSTEM even if it fails you...I was on minus but I trusted my analysis, my system and ultimately what I saw confirmed by the system.

{Not Every trade will be a winner, but I know ultimately my strategy is profitable as per backtesting results}

The best traders have developed an edge and more importantly they trust their edge! - Mark Douglas - Trading in the Zone {I have learnt from a Great Mentor}

I'm not there yet but one can at least asipre at it. {Not there yet but if Im determined I can achieve anything}


The best part of my reaction is that I'm not happy at all, I'm just feeling indifferent, a sensation which far outweights the pips gained for today, at least for me." { Trading can be truly rewarding without feeling the Highs or Lows}


Do you get my drift Sarmatius. Your OWN words that you put out to others to view are your best own motivation. You dont always have to have Motivators write the words when you are your own motivator. Always remember Trading is 20% Strategy 40% Psychology, & 40% Money Management. To all you Noobies learn the Basics and take it slowly and practice with a positive attitude and take no short cuts in Backtesting. In my humble opinion,and I have no idea on your Money management skills Sarmatius, but you are 60% on your way to being a successful Trader, and you may already be one, for all I know, but I do like your style. Dedication and positive attitude are truly great attributes to anyones success and if you have belief in a good strategy and belief in ones self you may take years off what I am still striving to achieve

9 Years and Still Learning
Quoting ljin
hello emmanuel,
just want to ask something regarding 100-days move. how do you count that? is not it only around 70 from market opening to now?
Hi,

In all broker platforms, you can use the ATR indicator set to 100 period and on D1 chart TF.

In MT4, you can read the ATR data in the Data Window. When you roll your mouse cursor on the indicator, the data window will show the ATR100 for that particular date/time.

rgds,
Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
Hi,

In all broker platforms, you can use the ATR indicator set to 100 period and on D1 chart TF.

In MT4, you can read the ATR data in the Data Window. When you roll your mouse cursor on the indicator, the data window will show the ATR100 for that particular date/time.

rgds,
ups. sorry i mean about this
Quote
Anyway, today move already exceed it 100-days average of about 110 pips. Only some significant economic event will bring this further down.

where the 110 pips come from? by using atr i cant find that it exceed 100 days average?
is 0.0143 mean 143 pips?
how far could bad luck could go
.... i take the short on Usd Chf based on down trend + trend line + TDI cross + Shi Channel edge and it now 65 pip loss... last week i take similar trade in usd cad and post my chart and it go for loss also ...
.......

my membership is old if any one notice that but the truth i do not spend all that time monitoring forex ... from early 2005 to 2007 very few brokers was offering micro accounts...+ very few forum with useful topics+ personal internet problems i spend that time searching for the holy grail system .......then i stay away . from 2008 to 2011 because my college studying ....3 month ago i open real account ....tried different system ( with risk do not exceed 1-2% per trade ) my problem is every system i try i face series of consecutive losses up to 9 loss in row .... which in not common even with flip-coin trading ...during this 3 month i do not have single positive week ... i have tried many system... scalping 5 min or even 10sec chart which i realized it not suitable for me ...no i tray to follow stress free day trading system ( S3-1 or S3-4h).. but for last 2 weeks i still have negative result ..i know the problem is not in this system or any other system .. i believe this system is profitable ........ i would like to ask if any one face this situation before and how to get over it ...this feeling which make you sure that every trade you will take will turn against you no matter how good is the setup once you open it like the god trade against you
Quoting HITMAN
how far could bad luck could go
.... i take the short on Usd Chf based on down trend + trend line + TDI cross + Shi Channel edge and it now 65 pip loss... last week i take similar trade in usd cad and post my chart and it go for loss also ...
.......

my membership is old if any one notice that but the truth i do not spend all that time monitoring forex ... from early 2005 to 2007 very few brokers was offering micro accounts...+ very few forum with useful topics+ personal internet problems i spend that time searching for the...
hi HITMAN,

view some of Mark Douglas interview videos 1-7 ( MIND OVER MARKET). he mentions how you are feeling.

Inserted Video


hope this helps

mark
Quoting Markrc
hi HITMAN,

view some of Mark Douglas interview videos 1-7 ( MIND OVER MARKET). he mentions how you are feeling.

http://www.youtube.com/watch?v=ypCjo...eature=related

hope this helps

mark
thanks for the video
Quoting ljin
ups. sorry i mean about this


where the 110 pips come from? by using atr i cant find that it exceed 100 days average?
is 0.0143 mean 143 pips?

if you read off the data window, the ATR100 today is 0.0109 ~ 109pips.
today' day high low so far is +133pips
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting emmanuel7788
if you read off the data window, the ATR100 today is 0.0109 ~ 109pips.
today' day high low so far is +133pips
my atr shows 0.0143 meaning 143 pips? the result is different with yours.
and today' day high low in my chart is 118. now i am getting confused.
which we should take notice of? high low or atr(100) ?
you said that 110 is average of this pair right? is that mean if the price around 60 pips. it mean that the price have more room around 50 more pips average right?
Quoting ljin
my atr shows 0.0143 meaning 143 pips? the result is different with yours.
and today' day high low in my chart is 118. not i am getting confused.
which we should take notice of? high low or atr(100) ?
you said that 110 is average of this pair right? is that mean if the price around 60 pips. it mean that the price have more room around 50 more pips average right?

ok, you have broker time GMT+2
I stick to broker with GMT+0
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting robthorp
Congrats on your trades, not to put a dampner on it, but something to consider,
E/U to G/U and E/Y to U/Y have roughly a 90/100 hourly correlation.
While E/Y and G/Y have a 96 hourly correlation.
Bearing in mind 100 is a perfect correlation, by placing all 5 of these trades you are enevitably exposing your risk to the market X5, as more than 90% they will follow the same path.

Just food for thought, well done though
http://www.forexticket.co.uk/en/tools/01-01-correlation
Interesting link, certainly noteworthy.

Do you think this site takes into consideration mirror images of pairs. Effectively taking the same path, just upside down?
Two EU H1 trades this week...they each netted +50 pips. I am also taking some time to test and learn how PA works on the GU and EJ pairs. I have had some success there also.
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Quoting Phx62
Two EU H1 trades this week...they each netted +50 pips. I am also taking some time to test and learn how PA works on the GU and EJ pairs. I have had some success there also.
hello phx62. i have a question on your 1st trade.
how did you correctly enter at that candle instead of the prev blue candle?
there is a pullback candle 1 hour after LO. and following that, the candle open with blue candle + tdi cross .

and which time that we need to be aware of prev low and high when entry? sometimes i often see your trading and open position after the price go past prev low /high candle.
thx.
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