Islander and Medici trade the European open | Page 199 | Forex Factory

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Islander and Medici trade the European open

  • #3,961
  • Mar 26, 2012 10:19am Mar 26, 2012 10:19am
Missed out on the continuation move up but managed to grab another +13 on this move up above earlier resistance. Long at 110.29, out at 42 when price failed to make a new high. Not too surprising as we're at 5 day ADR (110.48) and R2 (110.47).

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Follow, don't anticipate.
  • #3,962
  • Mar 27, 2012 4:20am Mar 27, 2012 4:20am
Hi all,

TP only to first pivot/Medici's line as I thought today would keep down. I was wrong. Hope someone caught the whole move...
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  • #3,963
  • Mar 27, 2012 5:31am Mar 27, 2012 5:31am
Quoting Krisdetrader
Hi all,

TP only to first pivot/Medici's line as I thought today would keep down. I was wrong. Hope someone caught the whole move...
Attachment
Well done, Kris Nice entry.

Here's a pertinent Seykota quote:

"Traders and Surfers both have to deal with feelings of missing out on the small ones, until the big one comes along. They also have to deal with feelings of staying with the big one." ( my italics)

As to the way we trade here, that means trusting the MAs, so you can stay in the trade until the fast MA/side of the cloud turns.
  • #3,964
  • Mar 27, 2012 6:06am Mar 27, 2012 6:06am
Took a short from the top. Now re-entry here. Will hold this one until 1.3325 at least.
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  • #3,965
  • Mar 27, 2012 7:18am Mar 27, 2012 7:18am
Quoting medici
Took a short from the top. Now re-entry here. Will hold this one until 1.3325 at least.
Very nice.

Short at 78?

Was it 78 level or 5 min PA which gave you the signal to short?
Follow, don't anticipate.
  • #3,966
  • Mar 27, 2012 7:22am Mar 27, 2012 7:22am
Quoting Ian
Very nice.

Short at 78?

Was it 78 level or 5 min PA which gave you the signal to short?
78 was a nice 2T on RB7 - usually reliable - but I was a bit cautious and entered on the pullback upp to 75. Then when it could hold above 75 I entered. So not strictly a range bar trade, but a "tick flow" trade.
  • #3,967
  • Mar 27, 2012 7:30am Mar 27, 2012 7:30am
Quoting Krisdetrader
Hi all,

TP only to first pivot/Medici's line as I thought today would keep down. I was wrong. Hope someone caught the whole move...
Attachment
Nice entry, I missed that one. I am the master at getting out/moving my stop too soon. I was long this morning from 3334 and moved my stop up to 45 when price seemed to be struggling at 50 level. Of course got taken out in the spike down to 43, which on further reflection is the level below which I should have kept my stop.

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Follow, don't anticipate.
  • #3,968
  • Mar 27, 2012 7:39am Mar 27, 2012 7:39am
Quoting medici
78 was a nice 2T on RB7 - usually reliable - but I was a bit cautious and entered on the pullback upp to 75. Then when it could hold above 75 I entered. So not strictly a range bar trade, but a "tick flow" trade.
OK, thanks. The m5 candles looked quite nice for reversal too. I see we've just hit your 25 level .. , that was London Close price yesterday, do you take that into account for targets?
Follow, don't anticipate.
  • #3,969
  • Mar 27, 2012 7:44am Mar 27, 2012 7:44am
Quoting Ian
Nice entry, I missed that one. I am the master at getting out/moving my stop too soon.

Attachment
I like to do the same (wonderful feeling to lock in profit!) and sometimes get hit as well As long as I'm in front of the screen, my ambition is to use the MAs and dynamic SL instead.
  • #3,970
  • Mar 27, 2012 7:45am Mar 27, 2012 7:45am
Quoting Ian
OK, thanks. The m5 candles looked quite nice for reversal too. I see we've just hit your 25 level .. , that was London Close price yesterday, do you take that into account for targets?
That target was set on info from several sources about buy orders at that level. But, truth be told, I got out on the double bottom five pips earlier...
  • #3,971
  • Mar 27, 2012 7:57am Mar 27, 2012 7:57am
Missed this one because of a phone call...but a beautiful setup: triple tap, Vic's 2B and divergence.
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  • #3,972
  • Mar 27, 2012 8:05am Mar 27, 2012 8:05am
I like this post a lot:

http://www.forexfactory.com/showthre...07#post3057807

And with the RBs and MAs it is very easy to define what you mean by a Good Trade.
  • #3,973
  • Mar 27, 2012 9:28am Mar 27, 2012 9:28am
Quoting medici
I like this post a lot:

http://www.forexfactory.com/showthre...07#post3057807

And with the RBs and MAs it is very easy to define what you mean by a Good Trade.
Good one. I know what to do now... go out for a walk.
  • #3,974
  • Mar 27, 2012 9:32am Mar 27, 2012 9:32am
Quoting Krisdetrader
Good one. I know what to do now... go out for a walk.
Glad you like it! I would like to go out too, but there might be pips to be had for another hour....
  • #3,975
  • Edited 8:55pm Mar 27, 2012 8:27pm | Edited 8:55pm
A guy named Tony Lipton programmed the CII for thinkorswim that I use. It looks to be correct. The thing I wish to convey is that one can substitute the two "RSIWilder" parts of it for any of one's favorite divergence indicators.

declare lower;


input length = 9;
INPUT VRSILEN = 14;


DEF price = RSIWilder(VRSILEN);
DEF VRSIDELTA = price - price[length];

DEF VRSISMA = SIMPleMovingAvg(RSIWilder(3),3);
DEF VRSICI = VRSIDELTA + VRSISMA;
PLOT VRSICI1 = VRSICI;
PLOT VCI1 = SIMPleMovingAvg(VRSICI,13);
PLOT VCI2 = SIMPleMovingAvg(VRSICI,33);

plot BUYLine = 0;
PLOT SSLINE = 100;

VCI1.SetDefaultColor(GetColor(6));
VCI2.SetDefaultColor(GetColor(5));
SSLine.SetDefaultColor(GetColor(0));
BUYLine.SetDefaultColor(GetColor(0));

I've been doing this over the past two days, and so far I like the SMI based one and the DMI one, which I pictured below on the hourly chart. With the DMI, they go below the 0 line ever so often and are sometimes divergent below there. Then there is divergence between two peaks on it.

Btw, I like the 9 CCI +/- 100 cross for entry signals, that's what the arrows are.
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  • #3,976
  • Mar 28, 2012 1:27am Mar 28, 2012 1:27am
1.33225 seems to be strong support since yday.
  • #3,977
  • Mar 28, 2012 1:42am Mar 28, 2012 1:42am
Quoting Krisdetrader
1.33225 seems to be strong support since yday.
Seems that way. This morning euro-yen is the pair to trade...I discovered after the fact, but the journey down should have another leg. 109.80 in sight.
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  • #3,978
  • Mar 28, 2012 2:27am Mar 28, 2012 2:27am
Another leg indeed. Let's see how far it goes.
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  • #3,979
  • Mar 28, 2012 2:31am Mar 28, 2012 2:31am
Quoting medici
Another leg indeed. Let's see how far it goes.
Cut it for 10 when 110.25 held for another attempt down. Better 10 in the hand...
  • #3,980
  • Mar 28, 2012 2:35am Mar 28, 2012 2:35am
Hi Medici,

I have noticed many conditions you entry the trade. Do you mind if you listed them to clarify everything (for me at least)? As per your last post I realized I don't take Good Trades, as to being constantly confused as most of trades I would take, they can also be taken the opposite way... just too many entry setups... overtrading demons creep behind me .

I will sit down and erase all my scribbled rules and start with a blank new sheet.

And you're right about the big wave. It really takes guts to hold with it till the end.
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