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Buy sell line trading

  • #1,641
  • Jul 3, 2012 3:55am Jul 3, 2012 3:55am
Quoting nige1
Have taken this entry on EJ based on an EB, tight risk again aiming for a minimum of 1:2.

Sidefx - In relation to your earlier question I have been posting all of my recent trades. In terms of pairs I focus on the majors and a number of corsses, eurjpy, eurgbp, gbpchf, audjpy and also the dax, bund and brent futures contracts. This provides me with more than ample opportunities .

Regards,
Many thanks.

..i don't see an EB on your EJ trade?...signal bar open/close doesn't seem to be engulfing the previous bar's open/close..
  • #1,642
  • Jul 3, 2012 4:09am Jul 3, 2012 4:09am
Quoting sidefx
Many thanks.

..i don't see an EB on your EJ trade?...signal bar open/close doesn't seem to be engulfing the previous bar's open/close..
Thanks sidefx, you are absolutely correct. Have closed at 100.51 for a couple of ticks profit, a touch tires this morning.

Thanks again.
  • #1,643
  • Jul 3, 2012 4:26am Jul 3, 2012 4:26am
Quoting nige1
Thanks sidefx, you are absolutely correct. Have closed at 100.51 for a couple of ticks profit, a touch tires this morning.

Thanks again.
No worries! I'm not seeing anything on the 15 of interest yet.
  • #1,644
  • Jul 3, 2012 4:40am Jul 3, 2012 4:40am
Quoting sidefx
No worries! I'm not seeing anything on the 15 of interest yet.
No, me neither, things appear to be getting quiet ahead of the US holiday. Yesterday was the lowest volume day in the S&P for a decade, might be best to stand aside today.

Regards.
  • #1,645
  • Jul 3, 2012 5:10am Jul 3, 2012 5:10am
Have taken this M15 T2 entry, again targeting 1:2. We shall see, things are choppy this morning.
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  • #1,646
  • Jul 3, 2012 7:34am Jul 3, 2012 7:34am
Quoting nige1
Have taken this M15 T2 entry, again targeting 1:2. We shall see, things are choppy this morning.
Stopped at 1R, time to wait for the next one.
  • #1,647
  • Jul 3, 2012 7:42am Jul 3, 2012 7:42am
Quoting nige1
Stopped at 1R, time to wait for the next one.
I had a toss up between eu and gu short on m15, took gu... should of taken eu... got 1.6R
tradewith60
  • #1,648
  • Jul 3, 2012 7:43am Jul 3, 2012 7:43am
Quoting 00ive
Hi all,does anybody trade on the 4h time frame anymore it seems that all recent posts are on the 15m which i just cant fit into mt lifestyle.
thanks
Hi 00...

this price action works on all TF's.... So use the principles to fit with your personality and available time...

Me personally i'm always changing TF's
tradewith60
  • #1,649
  • Jul 3, 2012 7:48am Jul 3, 2012 7:48am
Quoting 60minuteman
I had a toss up between eu and gu short on m15, took gu... should of taken eu... got 1.6R
Nice one ! Hope you got the move in Brent, was good for 1:2.5 at the high so far, missed it myself unfortunately.

Regards.
  • #1,650
  • Jul 3, 2012 7:52am Jul 3, 2012 7:52am
Quoting nige1
Nice one ! Hope you got the move in Brent, was good for 1:2.5 at the high so far, missed it myself unfortunately.

Regards.
i bloody missed it, the best looking set up of the day... im a bit of a lazy trader right now
tradewith60
  • #1,651
  • Edited 9:23am Jul 3, 2012 8:51am | Edited 9:23am
Quoting nige1

Sidefx - In relation to your earlier question I have been posting all of my recent trades. In terms of pairs I focus on the majors and a number of corsses, eurjpy, eurgbp, gbpchf, audjpy and also the dax, bund and brent futures contracts. This provides me with more than ample opportunities .

Regards,
Hi Nige1 and 60mm

Regarding which pairs to watch and what time frames.

I know what a good set up looks like, so I guess it is a matter of just quickly scanning through the pairs and time frames looking for a good looking set up.

For instance I will often start on the 4 hour time frame and look at the angle of the moving average and decide does it have a good angle and is price moving in the direction of the trend or is it retracing, if it is retracing, I look for price action bars that tell me to get in or not. If there is no trade I then move down to the one hour time frame and do the same thing, then down to the 15 minute, if there is no good looking set up, on to the next pair.


The only issue I have, and I have not decided on whether or not to consider this is, do I allow higher time frames to influence me or not.

Sometimes price looks like it is trending up on the 4 hour, but on the 15 minute there is a nice looking set up, going the other way.

I would be interested in hearing what you guys think on this topic.

PGPB
  • #1,652
  • Jul 3, 2012 9:12am Jul 3, 2012 9:12am
Quoting pgpb
Hi Nige1 and 60mm

Regarding which pairs to watch and what time frames.

I know what a good set up looks like, so I guess it is a matter of just quickly scanning through the pairs and time frames looking for a good looking set up.

For instance I will often start on the 4 hour time frame and look at the angle of the moving average and decide does it have a good angle and is price moving in the direction of the trend or is it retracing, it it is retracing, if it is retracing, I look for price action bars that tell me to get in or not. If there is...
Hi PG...

It's a dilemma... because both ways will work so neither way is right or wrong.

Whatever you decide try not to over complicate it so you make mistakes, and as always collect enough data so you know what R/R is required based on your win rate and trade frequency.

I have tried both ways and there are pro's and con's of both.

I have now moved into the train of thinking that as long as I get half my decisions right, with my R/R i will make profit, so I tend to just trade the TF i'm on.
tradewith60
  • #1,653
  • Jul 3, 2012 11:44am Jul 3, 2012 11:44am
Quoting 60minuteman
Hi PG...

It's a dilemma... because both ways will work so neither way is right or wrong.

Whatever you decide try not to over complicate it so you make mistakes, and as always collect enough data so you know what R/R is required based on your win rate and trade frequency.

I have tried both ways and there are pro's and con's of both.

I have now moved into the train of thinking that as long as I get half my decisions right, with my R/R i will make profit, so I tend to just trade the TF i'm on.
Have you looked at adding a 200 sma to the 15m chart, which is the same as the 50 sma on the 1hr TF, so you know with out swapping between charts where you are in relation to the 1hr 50 sma.

It might not help all the time but when they line up it becomes a much stronger signal.
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  • #1,654
  • Jul 3, 2012 12:29pm Jul 3, 2012 12:29pm
Quoting stevepatt
Have you looked at adding a 200 sma to the 15m chart, which is the same as the 50 sma on the 1hr TF, so you know with out swapping between charts where you are in relation to the 1hr 50 sma.

It might not help all the time but when they line up it becomes a much stronger signal.
Thanks Steve, I have indeed experimented with the 200 sma on the 15 minute time frame, I go back and forth as I like to have as little as possible indicators on the chart, however you are absolutely right, when the 200 and the 15 minute sma's line up the price action signal can be stronger.

Thx!

PGPB

Any suggestions on picking a good currency pair to trade?, I have experimented with currency strength meters showing with pair is the strongest and which pair is the weakest, and then trading the cross of the two, but after looking at that for a while I have decided that this is just another lagging indicator, and price action can tell you this better than strength meters
  • #1,655
  • Jul 3, 2012 12:34pm Jul 3, 2012 12:34pm
Is this setting up to go short plenty of room to the downside.
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Click to Enlarge Name: 3rd July EU 1H chart.jpg Size: 84 KB
  • #1,656
  • Jul 4, 2012 2:12am Jul 4, 2012 2:12am
Entered EU short after market formed a PB at both the 15m and 1h 50sma. Will have to watch support below.
Attached Image (click to enlarge)
Click to Enlarge Name: 4th July EU 15m Chart.jpg Size: 99 KB
  • #1,657
  • Jul 4, 2012 3:20am Jul 4, 2012 3:20am
Other commitments this morning meant I missed this move on cable, hopefully others managed to grab it ! Easily through 1:2 at this stage.
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  • #1,658
  • Jul 4, 2012 4:06am Jul 4, 2012 4:06am
Quoting nige1
Other commitments this morning meant I missed this move on cable, hopefully others managed to grab it ! Easily through 1:2 at this stage.
nige,

What is the smaller MA you are using, is it a 8sma?
  • #1,659
  • Jul 4, 2012 4:24am Jul 4, 2012 4:24am
Quoting mannai70
nige,

What is the smaller MA you are using, is it a 8sma?
Yes, its the 8sma, I seem to recall somone else using it earlier (I think it may have been lhDT). My line in the sand is the 50sma, although I am finding a lot of good set ups occur between the 8 & 50 sma.

EU, EJ & AU all have 15M T2's waiting to trigger short, will post if filled.

Regards.
  • #1,660
  • Edited 4:52am Jul 4, 2012 4:37am | Edited 4:52am
Quoting nige1
EU, EJ & AU all have 15M T2's waiting to trigger short, will post if filled.

Regards.
Have taken the short on EJ, somewhat against the rules as the trigger did not occur on the next candle. However given the 3 consecutive candles with closes in the bottom 25% (10%actually) and the two IB's I have entered this short. Trade on EU is identical but have taken the EJ trade instead and have cancelled the pending order on AU which did not trigger. 1R at risk as always.

Regards.
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