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Fail Better

  • #3,401
  • May 1, 2012 2:03pm May 1, 2012 2:03pm
Quoting sam0182
We sometimes overlook the news or watch out for one announcement and get in the way of another. Beware all, we have major USD employment news the rest of this week (Wednesday, Thursday & Friday).

Don't get caught jumping in front of a train.

*News times in PST*
Love the pic
Greetings, BeLikewater
  • #3,402
  • May 1, 2012 3:19pm May 1, 2012 3:19pm
Quoting Quidsey
Here's an "important stuff condensed PDF" of the start of this thread.

Attachment
Excellent, very useful! Good work Quidsey!!
  • #3,403
  • May 1, 2012 4:22pm May 1, 2012 4:22pm
Quoting sam0182

Don't get caught jumping in front of a train.

*News times in PST*
thx Sam too funny
  • #3,404
  • May 1, 2012 8:38pm May 1, 2012 8:38pm
I did take GJ for a second shot and a few points. Looking to see my larger AJ short follow through now...
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  • #3,405
  • May 2, 2012 9:53am May 2, 2012 9:53am
While we got an initial +30 pts, I had to cut AJ early for a loss (red circle). Then it slams TP a few hours later. Meh

G/AUD on deck for a breakout.
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  • #3,406
  • May 2, 2012 11:20am May 2, 2012 11:20am
USD/CHF long watch...
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  • #3,407
  • May 2, 2012 1:45pm May 2, 2012 1:45pm
Currently short USDCAD and long NZDUSD both entries off of the SFP set-up.

Overall bearish Kiwi, looking at 8120's to get short even though it does look a little washed.

Unemployment figures out later for that pair too.
  • #3,408
  • May 3, 2012 6:38am May 3, 2012 6:38am
Looking at a RR after BO of a wedge....around 0.8058....Stop above trend line.
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Patience is essential
  • #3,409
  • May 3, 2012 8:10am May 3, 2012 8:10am
some awesome double SFP's have just formed on EUR/USD & USD/CHF H1. Also cable i took before news. targets identified
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  • #3,410
  • May 3, 2012 3:12pm May 3, 2012 3:12pm
Should we get a clean break of that level it looks like a no-brainer setup to me:

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  • #3,411
  • May 3, 2012 3:28pm May 3, 2012 3:28pm
is it late now?
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  • #3,412
  • May 3, 2012 3:43pm May 3, 2012 3:43pm
Quoting 96flavors
Should we get a clean break of that level it looks like a no-brainer setup to me:

Attachment
Good catch here 96, I didn't have this marked up previously...my charts show it slightly different, maybe not as clean, but certainly a level worth watching.

Good stuff, thanks!
  • #3,413
  • May 3, 2012 4:40pm May 3, 2012 4:40pm
Quoting sam0182
Good catch here 96, I didn't have this marked up previously...my charts show it slightly different, maybe not as clean, but certainly a level worth watching.

Good stuff, thanks!
Your welcome That was a futures FX chart, looking at my spot FX (Oanda) chart, the level looks nearly the same.

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  • #3,414
  • May 4, 2012 2:30am May 4, 2012 2:30am
http://i1084.photobucket.com/albums/...idsey/kiwi.jpg

http://i1084.photobucket.com/albums/...SD04052012.jpg

....once heard Tom say.... "any kiwi news, just short it...." lol

Frustrating this one. Got stopped on the long sfp for a loser and obviously it missed my short order @8120.

Looking to find entry short that pair.

USDCAD consolidating and creating an sfp jackpot.

http://i1084.photobucket.com/albums/...AD04052012.jpg
  • #3,415
  • May 4, 2012 1:36pm May 4, 2012 1:36pm
Did anyone get long May Soybean?

I tweeted this one earlier in the week.

It had literally zero drawdown.

It's an example of the kind of levels you guys need to be interacting at.

Print the chart out, put it above your desk and use it as a benchmark.

- Tom
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  • #3,416
  • May 4, 2012 4:12pm May 4, 2012 4:12pm
Quoting the_wizard
Did anyone get long May Soybean?

I tweeted this one earlier in the week.

It had literally zero drawdown.

It's an example of the kind of levels you guys need to be interacting at.

Print the chart out, put it above your desk and use it as a benchmark.

- Tom
Hey! Wondering why you are trading the May contract after the rollover to July contract two weeks ago? Looks like both retests worked well!

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  • #3,417
  • May 4, 2012 5:43pm May 4, 2012 5:43pm
If you missed Sunday's webinar, you missed some great stuff! Get off yer wallets
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  • #3,418
  • May 4, 2012 5:55pm May 4, 2012 5:55pm
Quoting vasmiza
some awesome double SFP's have just formed on EUR/USD & USD/CHF H1. Also cable i took before news. targets identified

They are certainly impressive looking SFPs. But I would never have traded these. Why? Because they closed so far away from the tip of the trigger candle.

In my opinion, this matters for two reasons:

1. Because it means you need a massive stop thus reducing your R

2. but more importantly because, in my opinion in both cases the SFP trigger candle had not only shown the setup, it also went straight to the target within the same candle. So by the time the bar closed, it had already reached the FTA, which in my opinion was 1.3140s for E/U and 0.9125 for U/C. Therefore, although it looked impressive, it was untradeable in my book.
  • #3,419
  • May 4, 2012 7:39pm May 4, 2012 7:39pm
g/j looks interesting
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  • #3,420
  • May 5, 2012 3:20am May 5, 2012 3:20am
Quoting BadgerMatt
They are certainly impressive looking SFPs. But I would never have traded these. Why? Because they closed so far away from the tip of the trigger candle.

In my opinion, this matters for two reasons:

1. Because it means you need a massive stop thus reducing your R

2. but more importantly because, in my opinion in both cases the SFP trigger candle had not only shown the setup, it also went straight to the target within the same candle. So by the time the bar closed, it had already reached the FTA, which in my opinion was...
Good reasons matt, not all sfp's are tradeable.
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