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NSK's Easy Swing Trading

  • #41
  • Apr 13, 2012 6:37am Apr 13, 2012 6:37am
Quoting abi2712
Thanks, keeping an eye on this chart, lets see where it goes, fundamentals on Eur seem pretty dim at the moment.
u either need to trade fundamentals or technicals...if u try and trade both, u will remain stuck and not go anywhere....
  • #42
  • Apr 13, 2012 6:41am Apr 13, 2012 6:41am
Quoting ns_karthik
u either need to trade fundamentals or technicals...if u try and trade both, u will remain stuck and not go anywhere....
I totally agree with you on that, I'm too cautious I guess and that sometimes leads to my downfall.

Anyhow, do you reckon we'll hit 1.3250 today?
An investment in knowledge pays the best interest - Ben Franklin
  • #43
  • Apr 13, 2012 6:51am Apr 13, 2012 6:51am
Quoting abi2712
I totally agree with you on that, I'm too cautious I guess and that sometimes leads to my downfall.

Anyhow, do you reckon we'll hit 1.3250 today?
well...i am not in the business of predicting prices....i trade...i have my positons ready and i am simply not worried about where prices go....i have a system and i just trade it...i really am not worried where prices go...
  • #44
  • Apr 13, 2012 7:12am Apr 13, 2012 7:12am
Quoting abi2712
I totally agree with you on that, I'm too cautious I guess and that sometimes leads to my downfall.

Anyhow, do you reckon we'll hit 1.3250 today?
I see 1.31 first but it takes two to make a market.
  • #45
  • Apr 13, 2012 7:14am Apr 13, 2012 7:14am
Quoting Hugh Briss
I see 1.31 first but it takes two to make a market.
indeed.....lets see what happens....if it falls i will add one more position....
  • #46
  • Apr 13, 2012 7:19am Apr 13, 2012 7:19am
Quoting ns_karthik
indeed.....lets see what happens....if it falls i will add one more position....
Are you basically buying at support in the direction of the indicated trend? I used to trade daily charts exclusively and I can see the logic of your method but looking at the higher timeframes I'd rather be short eurusd at the moment if I was going to hold it long term.
  • #47
  • Apr 13, 2012 7:22am Apr 13, 2012 7:22am
Quoting Hugh Briss
Are you basically buying at support in the direction of the indicated trend? I used to trade daily charts exclusively and I can see the logic of your method but looking at the higher timeframes I'd rather be short eurusd at the moment if I was going to hold it long term.
yes...all that i do is determine the trend...if up, i buy at supports, sell some of them at resistances...then load again at supports...i keep doing this over and over again....boring but i make money....

not sure which timeframes u r talking abt...it would be better if u can post a chart and explain....my daily system shows the trend is up, so i will stick to it until i am proved wrong, which will happen when 1.3000 is broken....
  • #48
  • Apr 13, 2012 7:37am Apr 13, 2012 7:37am
Quoting ns_karthik
yes...all that i do is determine the trend...if up, i buy at supports, sell some of them at resistances...then load again at supports...i keep doing this over and over again....boring but i make money....

not sure which timeframes u r talking abt...it would be better if u can post a chart and explain....my daily system shows the trend is up, so i will stick to it until i am proved wrong, which will happen when 1.3000 is broken....
My weekly chart shows that 1.30, although a large round number hasn't really acted as strong s/r historically, only recently. The momentum is down on the stochs and I like the look of the fibonacci study on the daily. That's a 200 ema too. Adding it all up I feel more bearish than bullish. Of course I could be completely wrong.

Like I said before I can see the logic in your method and I believe it is a money making system, I just won't be following it on this leg of the trend.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd weekly.gif Size: 26 KB
Click to Enlarge Name: eurusd daily.gif Size: 24 KB
  • #49
  • Apr 13, 2012 7:46am Apr 13, 2012 7:46am
Quoting Hugh Briss
My weekly chart shows that 1.30, although a large round number hasn't really acted as strong s/r historically, only recently. The momentum is down on the stochs and I like the look of the fibonacci study on the daily. That's a 200 ema too. Adding it all up I feel more bearish than bullish. Of course I could be completely wrong.

Like I said before I can see the logic in your method and I believe it is a money making system, I just won't be following it on this leg of the trend.
true but recently 1.3030 has acted as a very good resistance on the way up and support on the way down...so for me, that will be key....i dont know whats there but whatever is there is holding it up very well...maybe there is a DNT option at 1.30 which is huge....really dont know...but thats key for me...

i do understand your point about the weekly and yes, we can say that the weekly overrides the daily....but then i switch to the monthly and what do i see? a pin bar in january...a dip down into the top of the bar in march which has been met by a lot of buying (as evidenced by where the march bar finished) and april has also had the same lows as march...so if it holds, then we have a double bottom on the monthly...

so i thought it would be a very good chance to get at the bottom...of course, only time will tell...as i said, my duty is to trade, not control the market...i have made my trade and i will just watch irrespective of whether it goes up or down....
Attached Image (click to enlarge)
Click to Enlarge Name: euro 1mn.gif Size: 13 KB
  • #50
  • Apr 13, 2012 7:51am Apr 13, 2012 7:51am
Quoting ns_karthik
true but recently 1.3030 has acted as a very good resistance on the way up and support on the way down...so for me, that will be key....i dont know whats there but whatever is there is holding it up very well...maybe there is a DNT option at 1.30 which is huge....really dont know...but thats key for me...

i do understand your point about the weekly and yes, we can say that the weekly overrides the daily....but then i switch to the monthly and what do i see? a pin bar in january...a dip down into the top of the bar in march which has been met by...
You're right to stick to the plan, when you get it right you will make good money and the times when it doesn't work out will be minimal.

For anyone reading this, this is a good method and it is worthy of study.
  • #51
  • Apr 13, 2012 7:55am Apr 13, 2012 7:55am
Quoting Hugh Briss
You're right to stick to the plan, when you get it right you will make good money and the times when it doesn't work out will be minimal.

For anyone reading this, this is a good method and it is worthy of study.
actually speaking, there is no rocket science in this method...more than the entries, its more abt money management and the exits that are the key to this method....and that comes only with practice and experience....
  • #52
  • Apr 13, 2012 7:57am Apr 13, 2012 7:57am
Quoting Hugh Briss
You're right to stick to the plan, when you get it right you will make good money and the times when it doesn't work out will be minimal.

For anyone reading this, this is a good method and it is worthy of study.
and thanks for the endorsement and nice to meet u...havent been around here much over the past year and so i guess i havent seen much of u...:-)....
  • #53
  • Apr 13, 2012 8:49am Apr 13, 2012 8:49am
Quoting ns_karthik
and thanks for the endorsement and nice to meet u...havent been around here much over the past year and so i guess i havent seen much of u...:-)....
No worries, people need to know the difference between something with merit and something without as there is a lot of it about.
  • #54
  • Apr 13, 2012 8:51am Apr 13, 2012 8:51am
Eurusd nearly at 1.31 though
  • #55
  • Apr 13, 2012 9:59am Apr 13, 2012 9:59am
Quoting Hugh Briss
Eurusd nearly at 1.31 though
picking up long here...with SL at 1.3000....again MM is the key thing here....even if its goes down, i lose only 0.5%....
  • #56
  • Apr 13, 2012 11:34am Apr 13, 2012 11:34am
Quoting ns_karthik
picking up long here...with SL at 1.3000....again MM is the key thing here....even if its goes down, i lose only 0.5%....
Dear Karthik

I like ur plan I too a long term trader and a big fan of moving ave. I too took long trade today at1.3085/and 1.3075 with target 600 pips and sl 300 pips. Hope my sl will not hit and as u said if sl hit also I will follow my plan. As you said market is not our hand but we can plan our trade.

Anyway thanks a lot, ur plan gav me more confidence. Kindly continue update.

Pradeep
  • #57
  • Apr 13, 2012 12:10pm Apr 13, 2012 12:10pm
Quoting mpradeep
Dear Karthik

I like ur plan I too a long term trader and a big fan of moving ave. I too took long trade today at1.3085/and 1.3075 with target 600 pips and sl 300 pips. Hope my sl will not hit and as u said if sl hit also I will follow my plan. As you said market is not our hand but we can plan our trade.

Anyway thanks a lot, ur plan gav me more confidence. Kindly continue update.

Pradeep
thats great...its very difficult for someone, especially a new trader to stick to longer timeframes as they tend to want pips very quickly rather than wait for 2-3 weeks to get 600 pips.....they want 20-30 pips very quickly but they actually end up losing 40-50 pips.....but i am very happy that u trade longer timeframes...lets see what happens...:-)
  • #58
  • Apr 13, 2012 12:39pm Apr 13, 2012 12:39pm
Quoting ns_karthik
thats great...its very difficult for someone, especially a new trader to stick to longer timeframes as they tend to want pips very quickly rather than wait for 2-3 weeks to get 600 pips.....they want 20-30 pips very quickly but they actually end up losing 40-50 pips.....but i am very happy that u trade longer timeframes...lets see what happens...:-)
yes u r right. Even I too loss lot of money hoping 10 t0 20 pips but in long run loosing many pips. But now I am sticking to my long term plan . Well it is a learning process. Let's continue our plan and I am sure in long run we will get success.

thanks again. Please continue thisn thread and let people learn about swing trading.

Bernanke speech going on lets see.

Good Luck

pradeep
  • #59
  • Apr 16, 2012 1:06am Apr 16, 2012 1:06am
SL still holding on !!
  • #60
  • Apr 16, 2012 2:14am Apr 16, 2012 2:14am
I can see it reaching 1.29 sometime soon. That's the 38.2% fib extension of the current move.
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