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Fail Better

  • #3,241
  • Apr 12, 2012 10:15am Apr 12, 2012 10:15am
Quoting globaljobber
When you say 'your level was resistance last' do you mean that if it was support last then this trade would have been ok
If you go back over the thread I think it will become apparent that this is one of the most important aspects of the Wizard's philosophy. And while I hate putting words into his mouth, I think he would say that not only does it need to be support last, he would like to see the last few consecutive touches as support
  • #3,242
  • Apr 12, 2012 10:27am Apr 12, 2012 10:27am
Quoting BadgerMatt
If you go back over the thread I think it will become apparent that this is one of the most important aspects of the Wizard's philosophy. And while I hate putting words into his mouth, I think he would say that not only does it need to be support last, he would like to see the last few consecutive touches as support

Thanks for the feedback BadgerMatt and Sam0182, appreciated.
  • #3,243
  • Apr 12, 2012 10:38am Apr 12, 2012 10:38am
Sure.

Keep posting charts. The poster's here are good about pointing out the glaring errors that will keep you on the right track.
  • #3,244
  • Apr 12, 2012 12:42pm Apr 12, 2012 12:42pm
http://i1084.photobucket.com/albums/...AD12042012.jpg

USDCAD.... I think this currency pair is actually evil.

I pulled my RR entry on this one due to the rounded bit finding support before the level.

97 did get a reaction eventually but it was pretty muted and then previous support becoming resistance, bish bash bosh goodnight vienna.

....anyone trade the sfp at 1.0050? what a trade if you could have held it.

http://i1084.photobucket.com/albums/...LD12042012.jpg

This was a nice fade of a range break short on gold today. Is this off to 1700?
  • #3,245
  • Apr 13, 2012 3:05am Apr 13, 2012 3:05am
Missed USD/JPY by 2 pips. Same for the NZD.

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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  • #3,246
  • Apr 13, 2012 3:32am Apr 13, 2012 3:32am
Quoting globaljobber
Hi Human,

I use ProRealTime but you need to pay for that. However OANDA does Metatrader on a demo account that never expires - they (their sales team) don't seem to bother you or call you up either which is good!

Cheers
Globaljobber
Thanks Globaljobber. Checking oanda out & also FXpro. Just wanted something user friendly and independent of whatever trading company I use.
  • #3,247
  • Apr 14, 2012 9:18pm Apr 14, 2012 9:18pm
I found this EA to come in handy backtesting gap trades, just to get an idea what R to use and gap size, etc. I tested as far back as 1990 and the results are quite impressive. Wouldn't use it for live trading though.
Attached File(s)
File Type: mq4 Gap_Trader.mq4   6 KB | 258 downloads
  • #3,248
  • Apr 15, 2012 4:38am Apr 15, 2012 4:38am
SFP for the week for me Gbp/Aud . .yeah, I know, "crazy cross" ..


Hourly to the Daily charts . .
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Indicators show the past. Price Action "Indicates" the future.
  • #3,249
  • Apr 15, 2012 12:30pm Apr 15, 2012 12:30pm
Quoting rivercrosser
Is there a webinar today?
Yes, just got the email.
  • #3,250
  • Apr 16, 2012 4:22am Apr 16, 2012 4:22am
Some H1 charts, red is sell and green is buy.
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  • #3,251
  • Apr 16, 2012 7:44am Apr 16, 2012 7:44am
If you are please take a minute and contact me pls.

Thank You
Greetings, BeLikewater
  • #3,252
  • Apr 16, 2012 8:45am Apr 16, 2012 8:45am
See if we can get a bounce to H1 FTA
Attached Image (click to enlarge)
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  • #3,253
  • Apr 16, 2012 9:09am Apr 16, 2012 9:09am
Quick trade, wish they would all work like this TP at H1 FTA
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  • #3,254
  • Apr 16, 2012 12:34pm Apr 16, 2012 12:34pm
Any one else catch this Hourly SFP on the Euro? . .(4 Hour chart to show deep swing point . .S/L about 20 pips . .


Thanks Tom . .


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #3,255
  • Apr 16, 2012 2:18pm Apr 16, 2012 2:18pm
Quoting jarroo
Any one else catch this Hourly SFP on the Euro? . .(4 Hour chart to show deep swing point . .S/L about 20 pips . .


Thanks Tom . .


Jim
Hey jarroo

Nice trade but where you not concerned that price was visiting this area forthe 3rd time?

Kal
  • #3,256
  • Edited 4:11pm Apr 16, 2012 3:46pm | Edited 4:11pm
Quoting Kalbar
Hey jarroo

Nice trade but where you not concerned that price was visiting this area forthe 3rd time?

Kal

You mean on the Hourly TF? No I was not concerned, picking up more sellers that are on the wrong side of the trade.

First time to this Swing point in a month ..
Indicators show the past. Price Action "Indicates" the future.
  • #3,257
  • Apr 16, 2012 4:02pm Apr 16, 2012 4:02pm
Quoting jarroo
Any one else catch this Hourly SFP on the Euro? . S/L about 20 pips . .


Thanks Tom . .


Jim

Yes, S/L was about 20 pips .for those that asked .. I think this is alright to post . .
Attached Image (click to enlarge)
Click to Enlarge Name: euro sfp 4162012.JPG Size: 222 KB
Indicators show the past. Price Action "Indicates" the future.
  • #3,258
  • Apr 16, 2012 6:28pm Apr 16, 2012 6:28pm
Quoting jarroo
You mean on the Hourly TF? No I was not concerned, picking up more sellers that are on the wrong side of the trade.

First time to this Swing point in a month ..

Hey Kal,

Nice trade Jim

If I may add to your comment....the news or gurus or services all weekend were pointing out what trouble the euro was in for this week many naming certain lows .....and many were pointing out the head and shoulder pattern that had formed last week which set up this fake out leaving one with a SFP(trapping traders/retail)...the story was supported with additional bars/signals/story/signs pointing higher after the SFP to keep one in the trade. R/R was worth it ...all of the above I beilieve Tom has addressed.
  • #3,259
  • Apr 16, 2012 6:58pm Apr 16, 2012 6:58pm
Quoting Atc
Hey Kal,

Nice trade Jim

If I may add to your comment....the news or gurus or services all weekend were pointing out what trouble the euro was in for this week many naming certain lows .....and many were pointing out the head and shoulder pattern that had formed last week which set up this fake out leaving one with a SFP(trapping traders/retail)...the story was supported with additional bars/signals/story/signs pointing higher after the SFP to keep one in the trade. R/R was worth it ...all of the above I beilieve Tom has addressed....
Did Tom talk about the Euro at his webinar yesterday? . .I missed that one, yesterday ..darn it . .those are always fun to attend . ..

I can see those predictions of the Euro falling coming true . . (HnS etc .) when we get strong Close below the neck line or 1.3000 . .or LCS level . . on the Daily or even the Weekly TFs. Once that happens . .all bets are off for going long ..
Indicators show the past. Price Action "Indicates" the future.
  • #3,260
  • Apr 17, 2012 1:29am Apr 17, 2012 1:29am
Just posting a chart of what looks like a potential GBPCAD trade. Does this fall into crazy cross category? Also pointed out the missed trade which looked nice. Would appreciate comments good or bad on this one. Checked out my spread on this as 4 pips so that's ok. Purple arrow is my SL, Blue entry and yellow TP.

http://4.bp.blogspot.com/-mtnphqXHwk...D_170412_1.png
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