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  • #2,061
  • Jun 8, 2012 10:06am Jun 8, 2012 10:06am
Quoting lovejoy80
Update on CHFJPY trade below, took some off at FLS, moved SL just above and final TP set.

Remember, to maximise your profit you need to learn how to vary your risk and trade according to what will give you a positive expectancy over the long term.

Most people can't handle multiple losses, (it's a confidence and a psychological issue) thus they focus on win rate and being ultra picky - all this is doing is vastly decreasing your long term profit potential. It's the same with SL placement, a lot more often than not I see illogical, mechanical...
Price failed to reach my second target, so cut it (as well as my Gold trade) and calling it a day now. +1.7R made.
Attached Image (click to enlarge)
Click to Enlarge Name: CHFJPY4.png Size: 27 KB
  • #2,062
  • Jun 8, 2012 10:08am Jun 8, 2012 10:08am
Quoting lovejoy80
FTB = First Time Back.

Have added a basic list of terminology to first page of the thread.
ty
  • #2,063
  • Jun 8, 2012 10:30am Jun 8, 2012 10:30am
Quoting lovejoy80
Price failed to reach my second target, so cut it (as well as my Gold trade) and calling it a day now. +1.7R made.
Nice LJ
  • #2,064
  • Jun 8, 2012 10:31am Jun 8, 2012 10:31am
Quoting Balhana
Moved SL to 0.9865
Moved SL a bit down to 0.9863, very tough trade....
Attached Image (click to enlarge)
Click to Enlarge Name: AU 15M 05.jpg Size: 127 KB
  • #2,065
  • Jun 8, 2012 10:41am Jun 8, 2012 10:41am
Quoting lovejoy80
I wouldn't be so quick to write off that compression, the way price left that demand zone last time suggests that not all demand has been consumed at that level IMO. Not something I'm trading mind - think someone turned off the market after Asia!

The lowest demand level is definitely something I'll be focussing on next week if price gets there.
I wasn't watching but here was a M5 QM which could have been used as price action to take a long on EU.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu5.jpg Size: 108 KB
Click to Enlarge Name: EUM5.png Size: 38 KB
  • #2,066
  • Jun 8, 2012 10:41am Jun 8, 2012 10:41am
Quoting Balhana
Moved SL a bit down to 0.9863, very tough trade....
Closed one more at 0.9875 for +24 pips. Really didn't want to but.....
  • #2,067
  • Jun 8, 2012 11:19am Jun 8, 2012 11:19am
Quoting Balhana
Closed one more at 0.9875 for +24 pips. Really didn't want to but.....
The remainder got stopped out at 0.9863 for +12 pips (+56 pips in total from this AU trade). Maybe my last SL was too tight....
Attached Image (click to enlarge)
Click to Enlarge Name: AU 15M 05.jpg Size: 127 KB
  • #2,068
  • Jun 8, 2012 12:08pm Jun 8, 2012 12:08pm
Bought GJ at 122.60 for a scalp.
Attached Image (click to enlarge)
Click to Enlarge Name: GJ 2M 01.jpg Size: 85 KB
  • #2,069
  • Jun 8, 2012 12:14pm Jun 8, 2012 12:14pm
Quoting Balhana
Bought GJ at 122.60 for a scalp.
Closed 2/2 at 122.75 for +30 pips. Just 10 minutes. A lot easier than the AU trade.
Attached Image (click to enlarge)
Click to Enlarge Name: GJ 2M 02.jpg Size: 88 KB
  • #2,070
  • Jun 8, 2012 12:37pm Jun 8, 2012 12:37pm
Sold EU at 1.2500 for a scalp. SL at 1.2507 Looks a bit risky but tight stop.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 2M 01.jpg Size: 156 KB
  • #2,071
  • Jun 8, 2012 1:02pm Jun 8, 2012 1:02pm
Quoting Balhana
Sold EU at 1.2500 for a scalp. SL at 1.2507 Looks a bit risky but tight stop.
Stopped out at 1.2507 for -7 pips (-14 pips in total). I'm going to call it a day.
  • #2,072
  • Jun 8, 2012 1:06pm Jun 8, 2012 1:06pm
Quoting Balhana
Stopped out at 1.2507 for -7 pips (-14 pips in total). I'm going to call it a day.
Sell EU one more time?
Attached Image (click to enlarge)
Click to Enlarge Name: EU 5M 01.jpg Size: 113 KB
  • #2,073
  • Jun 8, 2012 1:27pm Jun 8, 2012 1:27pm
Quoting Balhana
Sell EU one more time?
Sold EU at 1.2510
  • #2,074
  • Jun 8, 2012 3:03pm Jun 8, 2012 3:03pm
Quoting Balhana
Sold EU at 1.2510
Closed 3/3 at 1.2499 for +33 pips. Too tired.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 3M 00.jpg Size: 214 KB
  • #2,075
  • Jun 8, 2012 10:55pm Jun 8, 2012 10:55pm
Been a longtime not posted here..
here is the the setup im looking for next week.

the rejection bar off the TL.it looks like Pinbar..but im taking it more as rejected-bar giving us the south direction.(1st chart)

i was planning to play pure touch @ 1.3020-1.3028 range but was under-confident.(2nd chart)

the recent consolidation on ECAD looks more of Scared Money vs Smart Money thingie..Scared Money moving up,Smart Money moving down(3rd chart).

will wait for the Monday Open.
Attached Image(s) (click to enlarge)
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  • #2,076
  • Jun 10, 2012 4:08pm Jun 10, 2012 4:08pm
Quoting AvanishDemo

will wait for the Monday Open.
hmm..
some huge gaps..wont jump in quick!
will see how the Euro reacts furthur to the news of Spanish bailout..as reported by bloomberg,fxlive..
  • #2,077
  • Jun 10, 2012 4:49pm Jun 10, 2012 4:49pm
Quoting AvanishDemo
hmm..
some huge gaps..wont jump in quick!
will see how the Euro reacts furthur to the news of Spanish bailout..as reported by bloomberg,fxlive..
Wise move I reckon.

That weekly chart does have a 'squeeze' look to it - two firm rejections off the lower support without any follow through suggests bears are in control, but we know how quickly a Euro bounce coupled with short covering can exaggerate any upside moves.

As per my earlier tweets I'm long some Euro exposure as expected a bounce following the Spanish bailout - not banking on a big short covering rally though
  • #2,078
  • Jun 11, 2012 7:46am Jun 11, 2012 7:46am
Bought AU at 0.9950
Attached Image (click to enlarge)
Click to Enlarge Name: AU 15M 01.jpg Size: 68 KB
  • #2,079
  • Jun 11, 2012 7:48am Jun 11, 2012 7:48am
Bought UJ at 79.50
Attached Image (click to enlarge)
Click to Enlarge Name: UJ 15M 01.jpg Size: 120 KB
  • #2,080
  • Jun 11, 2012 8:30am Jun 11, 2012 8:30am
Quoting Balhana
Bought AU at 0.9950
Moved SL to BE+1.
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