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Robert Miner's Dynamic Trading learning journal

  • #121
  • May 7, 2012 11:56am May 7, 2012 11:56am
Quoting Fx2ProTrader
Yes. I agree that all instruments are correlated each other with either positive or negative. Does the inter-market analysis works? No ideas of what information is provided and how to use it.

Actually i already understand the principle of Elliot Wave with Fibonacci retracement & expansion. I did read a lot of book regarding this. Just doubt about if can use in practical way.

Thanks for you information. I would like to have a look at previous pages posted on how to set up entry/stop/target.
Inter-market analysis works very well for us - hence why it is the foundation from which we operate from - wave counts are secondary.

There are no rules on IMA per se - it is a simple process whereby you determine how asset classes are trading with each other, or not - which are leading/lagging etc so that you have as many 'boxes checked' that you can then incorporate some EW analysis on. Think of it as a discovery process.

Simple example: AUD/USD is directly impacted by China - hence, knowing what Shanghai Comp or Hang Seng is likely to do technically, you can better determine how to trade AUD/USD - simple cause and effect.
  • #122
  • May 9, 2012 8:45pm May 9, 2012 8:45pm
Dave, just noticed you have started an interesting trading ideas thread. You have always adviced me to use a further stop. So I have decided to start a 50,000 demo account to try it.

I have entered 2 pos of GBPUSD at 1.6149, sl 1.5975. Will update with charts tonight.

Darren, I will send you some materials about EW wave and fibo relations.
  • #123
  • May 9, 2012 10:25pm May 9, 2012 10:25pm
Quoting lithium1
Dave, just noticed you have started an interesting trading ideas thread. You have always adviced me to use a further stop. So I have decided to start a 50,000 demo account to try it.

I have entered 2 pos of GBPUSD at 1.6149, sl 1.5975. Will update with charts tonight.

Darren, I will send you some materials about EW wave and fibo relations.
Cool
  • #124
  • May 10, 2012 3:17am May 10, 2012 3:17am
Quoting lithium1
Dave, just noticed you have started an interesting trading ideas thread. You have always adviced me to use a further stop. So I have decided to start a 50,000 demo account to try it.

I have entered 2 pos of GBPUSD at 1.6149, sl 1.5975. Will update with charts tonight.

Darren, I will send you some materials about EW wave and fibo relations.
K! Waiting for your good news. ...
  • #125
  • May 10, 2012 5:48am May 10, 2012 5:48am
http://www.forexfactory.com/showthread.php?t=360479

Here is the GBPUSD trade, based on Dave's wave count on page 1 post 8.

My 2 positions of long entry was at 1.6149, sl 1.5975. Target at 1.6387.

Risking 174pips, target 238pips.


Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.jpg Size: 352 KB
  • #126
  • May 10, 2012 6:08am May 10, 2012 6:08am
Open another trade on AUDUSD M15. Price action breakout moving averages and finding support at fibo 0.5. Wave pattern looks like going to form a wave 5.

Long 2 pos at 1.0108, sl 1.0078, target 1.0141.

Risk 30pips, target 33pips.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.jpg Size: 335 KB
  • #127
  • May 10, 2012 6:41am May 10, 2012 6:41am
AUDUSD M1 chart have formed a 5 wave up, retrace fibo 0.5.

Move my sl to 1.0092.

Now Risk 16pips, Target 33pips.
  • #128
  • May 10, 2012 7:34am May 10, 2012 7:34am
Move AUDUSD stop up to 1.0119.

Just 1pip away from my target 1.0141 just now.
  • #129
  • May 10, 2012 7:41am May 10, 2012 7:41am
Move AUDUSD stop up to 1.0124
  • #130
  • May 10, 2012 7:43am May 10, 2012 7:43am
AUDUSD 1.0141 target reached. Take profit.

+33 x 2 = +66pips
  • #131
  • May 10, 2012 8:10am May 10, 2012 8:10am
Would like to share a link regarding Elliot Wave Analysis,
A professional analyst (Joaquin Monfort) whom i respect to. Good analysis.

I also have some of his works as well. Will post here soon.

http://blog.forex4you.com/an-investi...ve-oscillator/
  • #132
  • May 10, 2012 8:11am May 10, 2012 8:11am
http://www.forexfactory.com/showthread.php?t=360479

Page 1, post 9.

Dave sounds unsure about this GBPUSD trade. The wave pattern also look more like a corrective ABC. So I take profit at 1.6175.

+26 x 2 = +52pips
  • #133
  • May 29, 2012 8:27am May 29, 2012 8:27am
Short 1 position at 1.25491. sl 1.25634

Placing another stop sell order at 1.25263.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.jpg Size: 317 KB
  • #134
  • May 29, 2012 8:32am May 29, 2012 8:32am
Quoting lithium1
Short 1 position at 1.25491. sl 1.25634

Placing another stop sell order at 1.25263.
Attachment
stop sell order 1.25263 triggered, short another position at 1.25263. sl 1.25634
  • #135
  • May 29, 2012 8:34am May 29, 2012 8:34am
move stop loss down to 1.25436
  • #136
  • May 29, 2012 8:38am May 29, 2012 8:38am
Quoting lithium1
move stop loss down to 1.25436
A break below 1.2509 should get the bearish momentum going
  • #137
  • May 29, 2012 8:59am May 29, 2012 8:59am
move stop down to 1.25378
  • #138
  • May 29, 2012 9:02am May 29, 2012 9:02am
Quoting Dave Floyd
A break below 1.2509 should get the bearish momentum going
means not suppose to short yet?
  • #139
  • May 29, 2012 9:05am May 29, 2012 9:05am
Quoting lithium1
move stop down to 1.25378
Stop out breakeven.
  • #140
  • May 29, 2012 10:24am May 29, 2012 10:24am
Quoting lithium1
means not suppose to short yet?
Not necessarily - just saying that that level is key to allowing for more downside.
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