Price Action and Trading Discussion | Page 64 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Price action at the core = family members' discussion project 2,214 replies

Price Action discussion 26 replies

Volume Price Level Trading Discussion Area 1 reply

Trading and Exchanges Discussion Thread 17 replies

Maxsmarts Trading Journal and Discussion 164 replies

Attachments: Price Action and Trading Discussion
Exit Attachments

Price Action and Trading Discussion

  • #1,261
  • May 3, 2012 8:33pm May 3, 2012 8:33pm
Oh i see. I play a bit differently i would try to take it directly at the top in order to reduce my SL. A/J is not one of the pairs ive been following. I see the market is not really moving atm .

How many pips do you suggest should the price move before a BE should be considered. I dont really use BE in order to develop patience.
  • #1,262
  • May 3, 2012 8:45pm May 3, 2012 8:45pm
Quoting jibjib210
Oh i see. I play a bit differently i would try to take it directly at the top in order to reduce my SL. A/J is not one of the pairs ive been following. I see the market is not really moving atm .

How many pips do you suggest should the price move before a BE should be considered. I dont really use BE in order to develop patience.
I could not really put a set number of pips on it, I guess it simply comes down to personal preference. I tend to look for areas where you see that price may stall, that can be a good time to your BE in just in case that level causes price to shoot back up again. Or potentially simply take your profit and move onto the next opportunity.

And if you look to the left on AJ price is at one of those levels right now. Sometimes it will stop you out BE only to keep on going in your direction, which obviously becomes frustrating, but that is trading.

Yes the market is very slow and sideways at the moment, this is where the patience really comes into play, as it can often chop around and will play havoc with your account if your not careful.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,263
  • May 4, 2012 3:30am May 4, 2012 3:30am
Closed my USDCAD 4 hourly short out manually for a loss. Not liking the look of this one so rather than let it go to hit my full stop loss I cut it out early.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,264
  • May 4, 2012 7:48am May 4, 2012 7:48am
Too late i wasnt careful enough. This is so frusterating. Everything i trade ranges and goes no where but ends up hitting my SL.

This week was a mess i lost 350 pips :S!!
  • #1,265
  • May 6, 2012 7:34am May 6, 2012 7:34am
Quoting jibjib210
Too late i wasnt careful enough. This is so frusterating. Everything i trade ranges and goes no where but ends up hitting my SL.

This week was a mess i lost 350 pips :S!!
Well your EA trade was a good entry, maybe the trade management could have been an issue.

Without doubt trade management can be the hardest part of trading. Greed is the one emotion that you absolutely must conquer within trading. You need to control that mindset of thinking the trade is on a run ill let it keep giong.

The rule I like to use is never let a winning position become a losing position. I like to at very least get a BE on my positions. If that trade retraces and takes me out BE then so be it, I wait for another opportunity. There will obviously be times when I get the area wrong and dont get my BE in and the retrace hits my SL, its inevitable.

I put a few thoughts on the EA 4 hourly chart areas that I potentially would have been looking at to manange the position. If position was moved down to above the PB that formed at a support level you would have banked some pips.

Hindsight is always easier. Doing it live during the trade is much harder.

I have current trades short AUDJPY that is at BE, short EURJPY that is at BE and short AUDUSD that is at BE. Once I have the BE in I am not too concerned about the trades and simply manage them to lock in some pips and at very worst BE gets hit.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 109 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,266
  • May 7, 2012 9:19pm May 7, 2012 9:19pm
Hey Dark hows it going?

Sorry been busy with school. Thanks for the advice.

Hows this week looking? Opened on some really big gaps this week... Closed my eur/gbp trade on the gap to net 120 pips.

Close of todays bar on daily shorted aud/usd and nzd/usd. Debating on the Eur/jpy.

I see your trades are going well.
  • #1,267
  • May 8, 2012 5:26am May 8, 2012 5:26am
Quoting jibjib210
Hey Dark hows it going?

Sorry been busy with school. Thanks for the advice.

Hows this week looking? Opened on some really big gaps this week... Closed my eur/gbp trade on the gap to net 120 pips.

Close of todays bar on daily shorted aud/usd and nzd/usd. Debating on the Eur/jpy.

I see your trades are going well.
Hi Jib,

No probs.


Now that we have some pairs that are starting move out of ranges there could be some opportunities this week. Ya some nice big gaps indeed. Always good when those gaps go in your favour and add some pips onto your positions.

Good work on the EG trade.

So far so good with my open positions just got to manage them now and see how they go.

Do you have your eye on any charts for the week ?
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,268
  • May 8, 2012 8:15am May 8, 2012 8:15am
I shorted nzd/usd, eur/jpy and aud/usd last night.

nzd/usd on Price action on RN and waited for it to fill gap

eurjpy and audusd on TL

up 40+ pips on ea trade atm. BE on eurjpy and nzdusd. Out of my control now
  • #1,269
  • May 8, 2012 8:18am May 8, 2012 8:18am
Quoting jibjib210
I shorted nzd/usd, eur/jpy and aud/usd last night.

nzd/usd on Price action on RN and waited for it to fill gap

eurjpy and audusd on TL

up 40+ pips on ea trade atm. BE on eurjpy and nzdusd. Out of my control now
Good to see you have the BE on.

Nothing is out of your control, you still get to manage the positions even though BE is in.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,270
  • May 8, 2012 6:59pm May 8, 2012 6:59pm
Just a waithing game now to see where to from here.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd daily.jpg Size: 96 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,271
  • May 8, 2012 7:08pm May 8, 2012 7:08pm
Similar story on this pair.
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD Daily.jpg Size: 88 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,272
  • May 8, 2012 10:35pm May 8, 2012 10:35pm
Quoting DarkWolF
Good to see you have the BE on.

Nothing is out of your control, you still get to manage the positions even though BE is in.
Im not touching anything i have my BE and TP in place just riding the trend !
  • #1,273
  • May 9, 2012 7:02am May 9, 2012 7:02am
Quoting jibjib210
Im not touching anything i have my BE and TP in place just riding the trend !
Good work.

Can be frustrating though when you see all your profits go back to BE.

Can pay to look for areas to move stops down, or take part profits off.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,274
  • May 9, 2012 7:05am May 9, 2012 7:05am
Moved my stop down on this one to lock in some profits.

Price is at a strong area that may act as some support.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY Daily 2.jpg Size: 96 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,275
  • May 9, 2012 7:16am May 9, 2012 7:16am
Current positions short on AUDUSD. This pair has been kind to me over the last few days. Once they dropped the interest rates here in AUS (50 pts to the expected 25 and talk of more to come) I was keen to keep an eye out for some short opportunities.

There are varied entries on here from daily, 4 hourly and one taken from a range bar method that I also trade. Easiest way is to simply show on 4 hourly chart.

Have moved stops down to lock in pips on the earlier trades and the latest entry is at BE.

Keep an eye on the parity level just below though as that is sure be a bulls meets the bears battle area.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.jpg Size: 93 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,276
  • May 9, 2012 7:26am May 9, 2012 7:26am
Starting to lock some pips in on this one also.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY.jpg Size: 98 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,277
  • May 9, 2012 7:33am May 9, 2012 7:33am
Quoting DarkWolF
Just a waithing game now to see where to from here.
Pending short order has been triggered on EURUSD daily.

Price made a break throgh the trend line with the gapping down, we had a slight pullback closing just below the lows of the range area. Looked for a move below the lows which just got triggered.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD.jpg Size: 87 KB
Click to Enlarge Name: EURUSD 1.jpg Size: 97 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,278
  • May 9, 2012 8:23am May 9, 2012 8:23am
HAHA nicley done!

Eur/jpy and aud/usd just hit TP.

AUD/USD = +136 pip
EURJPY = +148 pips

Total = 248 pips for the day
  • #1,279
  • May 9, 2012 8:37am May 9, 2012 8:37am
Quoting jibjib210
HAHA nicley done!

Eur/jpy and aud/usd just hit TP.

AUD/USD = +136 pip
EURJPY = +148 pips

Total = 248 pips for the day
Good work Jib
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #1,280
  • May 10, 2012 9:15am May 10, 2012 9:15am
The stop that I moved down yesterday to lock in some pips on this position has now been hit.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDJPY Daily 2.jpg Size: 96 KB
Click to Enlarge Name: AJ Trail hit.jpg Size: 82 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
0 traders viewing now