Fail Better | Page 189 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

A better Editor for mql is available. 100x better than MetaEditor 20 replies

Broker needs to do better, much better 4 replies

Better momentum and better Sine wave indicator 0 replies

Mathematical reasons why MOST DayTraders & scalpers fail? 197 replies

Is Better still better? 1 reply

Attachments: Fail Better
Exit Attachments

Fail Better

  • #3,761
  • Edited 9:33am Jun 15, 2012 9:22am | Edited 9:33am
Quoting adam777
I'm new to this and used to J16 ... anyway, the hourly high on the 14th, 50% retrace, and the third tap of an upward trendline. The daily resistance line would be the target, but looking back on it I probably should have waited till the daily resistance is broken through and it comes back to bounce north again.

Fair play to you, there's more than one way to skin a cat, but I suspect you are unlikely to get people who follow the trading methods on this thread taking that trade. So far as I can see, based on the sort of setups discussed in this thread, there are not many potential setups at the moment for going long on the euro. I've got my eye out for an SFP of the previous low at 1.2541 but that's it.

For shorts, I'm looking for a break below and retest of the level at 1.2441 or an SFP of the high at 1.2668. A clean break below the ascending trend line and retest from below would interest me too.
  • #3,762
  • Jun 15, 2012 9:41am Jun 15, 2012 9:41am
Nice set up but....due to Greek election coming on sunday i'd prefer to pass on this one.....
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd1.gif Size: 23 KB
Patience is essential
  • #3,763
  • Jun 15, 2012 9:47am Jun 15, 2012 9:47am
Quoting BadgerMatt
Fair play to you, there's more than one way to skin a cat, but I suspect you are unlikely to get people who follow the trading methods on this thread taking that trade. So far as I can see, based on the sort of setups discussed in this thread, there are not many potential setups at the moment for going long on the euro. I've got my eye out for an SFP of the previous low at 1.2541 but that's it.

For shorts, I'm looking for a break below and retest of the level at 1.2441 or an SFP of the high at 1.2668. A clean break below the ascending trend line...
Thanks, yes I see what you're looking and that's also what I noticed after I entered.
WARNING: Don't follow me as I'm just learning
  • #3,764
  • Jun 15, 2012 10:00am Jun 15, 2012 10:00am
Quoting benem
Nice set up but....due to Greek election coming on sunday i'd prefer to pass on this one.....

Let's hope it doesn't retrace tonight and then gaps down into the level on Sunday night
  • #3,765
  • Jun 15, 2012 10:02am Jun 15, 2012 10:02am
Quoting benem
Nice set up but....due to Greek election coming on sunday i'd prefer to pass on this one.....
Definitely something for next week
  • #3,766
  • Jun 15, 2012 10:18am Jun 15, 2012 10:18am
Quoting BadgerMatt
Yep, I'm now long on that. A bullish engulfing too just closed, meaning I am targeting the next minor D1 level at 1.0160s, which would be a marvellous R:R. I'll be trailing my stop up though.

I have just closed this AUD/ USD trade at 1.0056 (entered at 1.0011) for just over 1R profit. No-where near where I originally said I would be targetting, but I don't want to hold over the weekend.

That was my only trade this week, so it was a winning week!
  • #3,767
  • Jun 15, 2012 10:40am Jun 15, 2012 10:40am
Quoting adam777
is everyone headed north with me with the euro till resistance at 1.2645?
Closed for the night in $. I need to read this tread a few more times.
WARNING: Don't follow me as I'm just learning
  • #3,768
  • Jun 15, 2012 12:40pm Jun 15, 2012 12:40pm
Quoting BadgerMatt
I have just closed this AUD/ USD trade at 1.0056 (entered at 1.0011) for just over 1R profit. No-where near where I originally said I would be targetting, but I don't want to hold over the weekend.

That was my only trade this week, so it was a winning week!
Yes this worked nicely.

Great that both strategies we discuss here would have resulted in great trades on this pair.... anyone take and hold the SFP entry @9920 double bottom?

Lets see what mayhem the weekend brings...
  • #3,769
  • Edited 2:23pm Jun 15, 2012 2:00pm | Edited 2:23pm
Just closed AUD/USD at 1.0076, entered at 1.0007. Nice 1.49R.

Great week. Two profitable AUD/USD trades, this RR and the SFP/gap Sunday night.

Looking for a break and retest for USD/JPY (79.15) and (GBP/USD 1.5600) next.

Have a great weekend everyone!
  • #3,770
  • Jun 15, 2012 2:44pm Jun 15, 2012 2:44pm
Quoting nymeria
Just closed AUD/USD at 1.0076, entered at 1.0007. Nice 1.49R.

Great week. Two profitable AUD/USD trades, this RR and the SFP/gap Sunday night.

Looking for a break and retest for USD/JPY (79.15) and (GBP/USD 1.5600) next.

Have a great weekend everyone!
Solid week, have a good weekend guys.
  • #3,771
  • Jun 17, 2012 6:01pm Jun 17, 2012 6:01pm
Wake up FB.

A couple levels that I'm watching...all may have been already posted, not sure...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gj.jpg Size: 92 KB
Click to Enlarge Name: gu.jpg Size: 90 KB
Click to Enlarge Name: uj .jpg Size: 95 KB
Click to Enlarge Name: eu long.jpg Size: 102 KB
  • #3,772
  • Jun 17, 2012 6:08pm Jun 17, 2012 6:08pm
Quoting sam0182
Wake up FB.

A couple levels that I'm watching...all may have been already posted, not sure...
Thanks for the charts Sam. Only one more to add, USD/CAD. Not the cleanest level, more a range 1.0200 - 1.0205.

I'm in on USD/JPY. Entry 79.14. SL 79.52.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad retest.jpg Size: 90 KB
  • #3,773
  • Jun 17, 2012 6:13pm Jun 17, 2012 6:13pm
Hi all,
Was there a webinar Sunday evening (17th)? I have been trying to contact Tom about my new email since 27th May but no reply.

Thanks
Michael
  • #3,774
  • Jun 17, 2012 6:16pm Jun 17, 2012 6:16pm
Quoting mros
Hi all,
Was there a webinar Sunday evening (17th)? I have been trying to contact Tom about my new email since 27th May but no reply.

Thanks
Michael
Yes there was. During the webinar, Tom said he's expecting to be all caught up on his e-mails by Wednesday.
  • #3,775
  • Jun 17, 2012 6:19pm Jun 17, 2012 6:19pm
Quoting nymeria
Thanks for the charts Sam. Only one more to add, USD/CAD. Not the cleanest level, more a range 1.0200 - 1.0205.

I'm in on USD/JPY. Entry 79.14. SL 79.52.
Yes, thank you, another one I'm watching. UCAD is good for me
  • #3,776
  • Jun 17, 2012 7:00pm Jun 17, 2012 7:00pm
I would like to say how much I like this thread. I know I am a "competitor" - even though I am not selling anything, but I believe this is a thread that all should follow. I find it very refreshing, and logical to say the least. A perfect example of common sense in the forum.

I wish more were like it.....I have referred people to it in the past, and will continue to.

Good job wizard. (And I love the name of the thread......wish I had thought of it.)

Chris
  • #3,777
  • Jun 18, 2012 4:51am Jun 18, 2012 4:51am
Some levels for this week.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: fx02 15.42 Monday, June 18, 2012.jpg Size: 92 KB
Click to Enlarge Name: fx01 15.41 Monday, June 18, 2012.jpg Size: 102 KB
Click to Enlarge Name: fx04 15.43 Monday, June 18, 2012.jpg Size: 94 KB
Click to Enlarge Name: fx03 15.42 Monday, June 18, 2012.jpg Size: 102 KB
Click to Enlarge Name: fx06 15.46 Monday, June 18, 2012.jpg Size: 92 KB
Click to Enlarge Name: fx05 15.45 Monday, June 18, 2012.jpg Size: 99 KB
Click to Enlarge Name: fx07 15.48 Monday, June 18, 2012.jpg Size: 88 KB
  • #3,778
  • Jun 18, 2012 4:52am Jun 18, 2012 4:52am
Levels that I will watch
Attached Image(s) (click to enlarge)
Click to Enlarge Name: fx10 15.59 Monday, June 18, 2012.jpg Size: 89 KB
Click to Enlarge Name: fx09 15.49 Monday, June 18, 2012.jpg Size: 97 KB
  • #3,779
  • Jun 18, 2012 5:38am Jun 18, 2012 5:38am
Chart 1 (Daily eurusd) - The Daily chart shows a possible bounce south.

Chart 2 (Hourly eurusd) - This daily level, the green line plotted on the hourly chart shows that the hourly bars have consolidated bellow this daily level, broken through and now are bouncing at this level.

My question: Is it wise to trade long on the hourly chart when the daily chart is showing a long term shorting opportunity (a possible bounce south at this level)?

... or ...

Should I wait for a possible short opportunity on the hourly chart?

Yes this is for educational purposes only
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu-daily.JPG Size: 61 KB
Click to Enlarge Name: eu-hourly.JPG Size: 48 KB
WARNING: Don't follow me as I'm just learning
  • #3,780
  • Jun 18, 2012 6:08am Jun 18, 2012 6:08am
I know that my answer will come too late, but I am looking for some reasoning behind going long, ... or waiting for a possible short at this level

Thanks

Adam
WARNING: Don't follow me as I'm just learning
8 traders viewing now