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  • #1,741
  • May 24, 2012 8:08am May 24, 2012 8:08am
Quoting xmzhang
Nice trade, I usually don't watch this pair, the spread on this pair is 10 pips
Wow! 10 pips!! It is 5.1 pips for me.
  • #1,742
  • May 24, 2012 8:17am May 24, 2012 8:17am
I missed one of my favorite setup on GU....
Attached Image (click to enlarge)
Click to Enlarge Name: GU 15M.jpg Size: 176 KB
  • #1,743
  • May 24, 2012 8:19am May 24, 2012 8:19am
Quoting xmzhang
Closed for a tiny profit ........ i'am to chicken to hold, price is moving up and down, probably waiting for data from US
I took the same trade and closed when YM hit clear demand and support and bounced. Will upload charts later.
  • #1,744
  • May 24, 2012 8:24am May 24, 2012 8:24am
I wanted to look for a long Gold trade on VLTF off 1563 which I missed and a straight short of the supply and resistance @ 1576 which I missed too cos of other trades.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gold1.png Size: 211 KB
Click to Enlarge Name: gold2.png Size: 26 KB
  • #1,745
  • May 24, 2012 8:34am May 24, 2012 8:34am
Quoting Balhana
Closed 1/2 at 1.2861 for +30 pips, and SL to 1.2838.
TP2 @ 1.2880 and SL @ 1.2846
Attached Image (click to enlarge)
Click to Enlarge Name: EA 30M 05.jpg Size: 194 KB
  • #1,746
  • May 24, 2012 8:41am May 24, 2012 8:41am
Quoting Balhana
I missed one of my favorite setup on GU....
Pending buy limit @ 1.5690, SL @ 1.5670. One lot only.
  • #1,747
  • May 24, 2012 8:46am May 24, 2012 8:46am
Quoting Balhana
Wow! 10 pips!! It is 5.1 pips for me.
I have 0.9 and 3.0 on two of my brokers...10 is definitely too high!
  • #1,748
  • May 24, 2012 8:55am May 24, 2012 8:55am
Quoting Balhana
Pending buy limit @ 1.5690, SL @ 1.5670. One lot only.
GU long @ 1.5690, SL @ 1.5670.
Attached Image (click to enlarge)
Click to Enlarge Name: GU 15M 01.jpg Size: 147 KB
  • #1,749
  • May 24, 2012 9:10am May 24, 2012 9:10am
Quoting Balhana
GU long @ 1.5690, SL @ 1.5670.
Moved SL to 1.5680. My risk is 10 pips.

GU 1M Chart
Attached Image (click to enlarge)
Click to Enlarge Name: GU 1M.jpg Size: 131 KB
  • #1,750
  • May 24, 2012 9:12am May 24, 2012 9:12am
Quoting Balhana
TP2 @ 1.2880 and SL @ 1.2846
Moved SL to 1.2851.
  • #1,751
  • May 24, 2012 9:53am May 24, 2012 9:53am
Quoting Balhana
Moved SL to 1.5680. My risk is 10 pips.

GU 1M Chart
Stopped out at 1.5680 for -10 pips.
  • #1,752
  • May 24, 2012 9:55am May 24, 2012 9:55am
Quoting xmzhang
sold kiwi @ 15m-PB
This was my trade. It was based on the pin that formed following a false break of the clear SR - a definite buyers trap.

You can see I got in a bit late (sometimes getting orders on quickly across accounts isn't a fast process) - but look where my SL was, it's where price 90% of the time should not reach - so why not higher to ensure that it definitely won't get hit (with the trade still working out) - because trade management is about long term value - long term average R and NOT win rate.

You can see where I was targeting which was a 1R win, price paused at the more minor FLS, retraced back at the US data release and tested the SR before dropping again. At this point Dow futures had hit its clear support and demand zone - I could have closed my trade but I decided to wait to see if the expected reaction on the Dow followed through, it did so that was reason to get out as price was likely heading higher.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: YM1.png Size: 33 KB
Click to Enlarge Name: NUtrade1.png Size: 15 KB
Click to Enlarge Name: NU-trade2.jpg Size: 64 KB
  • #1,753
  • May 24, 2012 9:59am May 24, 2012 9:59am
Quoting Balhana
Closed 1/2 at 1.2861 for +30 pips, and SL to 1.2838.
Very nice trade management.

I was using your comments about the M5 supply being a'bump in the road' as an example to the Trading Room members of a) recognising what should happen when in a trade and b) not panicking and closing the trade prematurely and realising the strength of the M5 supply is weak compared to the demand zone the trade was taken from.

It's important that people don't micro-manage trades by zooming into lower TF's and getting scared about price action on these TF's.
  • #1,754
  • May 24, 2012 10:04am May 24, 2012 10:04am
Quoting Balhana
Moved SL to 1.2851.
Hit TP2 (1.2876), which I adjusted. +75 pips in total.

Suddenly gap up? News stuff helped me this time? I don't care....
Attached Image (click to enlarge)
Click to Enlarge Name: EA 30M Final.jpg Size: 214 KB
  • #1,755
  • May 24, 2012 10:06am May 24, 2012 10:06am
Quoting Balhana
Stopped out at 1.5680 for -10 pips.
I think I moved up my SL too early for the GU trade.
  • #1,756
  • May 24, 2012 10:12am May 24, 2012 10:12am
Quoting lovejoy80
Very nice trade management.

I was using your comments about the M5 supply being a'bump in the road' as an example to the Trading Room members of a) recognising what should happen when in a trade and b) not panicking and closing the trade prematurely and realising the strength of the M5 supply is weak compared to the demand zone the trade was taken from.

It's important that people don't micro-manage trades by zooming into lower TF's and getting scared about price action on these TF's.
Yes, thst's exactly what I want to try!! If I enter a trade based on a 30M setup and stare at 1M/5M too often, then I usually close too early. Because even 5M supply looks very strong in the 5M chart.

In this EA case, I use 5M just for the SL management.
  • #1,757
  • May 24, 2012 10:14am May 24, 2012 10:14am
Quoting Balhana
I think I moved up my SL too early for the GU trade.
GU is now shooting up. I'm crying....
  • #1,758
  • May 24, 2012 10:22am May 24, 2012 10:22am
Quoting Balhana
GU is now shooting up. I'm crying....
Ahhh~~~~~~
Attached Image (click to enlarge)
Click to Enlarge Name: GU 15M Damn.jpg Size: 180 KB
  • #1,759
  • May 24, 2012 11:09am May 24, 2012 11:09am
EN was a bit better than EA. Because it was easy to find an entry thanks to the daily close (1.6633).
Attached Image (click to enlarge)
Click to Enlarge Name: EN 1H.jpg Size: 130 KB
  • #1,760
  • May 24, 2012 12:06pm May 24, 2012 12:06pm
I have taken "Bull (Bear) Trap Pattern" several times here in this thread. Yes, it is one of my favorite pattern. Take a look at the chart. It works well for me, any pair and any TF. Hope it helps.

Let me know if you have a better name. (Please don't send me a PM about this!!)

I got 20 pips just ago from this pattern.
Attached Image (click to enlarge)
Click to Enlarge Name: Bull Trap Pattern.jpg Size: 84 KB
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