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Trades based on Market Geometry and Price Action

  • #4,461
  • Jul 26, 2012 5:39am Jul 26, 2012 5:39am
good. i will keep my gbp/usd and eur/usd for a couple days...because they are breaking some important levels, and we are just at the beginning of the trend
  • #4,462
  • Jul 26, 2012 6:07am Jul 26, 2012 6:07am
Quoting omadivi
keep an eye on the dollar index, it did a heavy drop yesterday, a bearish engulf pattern...the sell-off could easily continue today..if that happens,GU and EU are heading North...i've stopped bothering with the AU
Its interesting when technicals and fundamentals meet..draghi's speech was a major boost, even though USD weakness started yesterday..
It is possible to make large sums trading, small losses, large wins
  • #4,463
  • Jul 26, 2012 6:10am Jul 26, 2012 6:10am
Quoting dailyking
good. i will keep my gbp/usd and eur/usd for a couple days...because they are breaking some important levels, and we are just at the beginning of the trend
Hi dk,
Why not play the pullbacks?that's what I intend to do..green pips to you.
It is possible to make large sums trading, small losses, large wins
  • #4,464
  • Jul 26, 2012 6:18am Jul 26, 2012 6:18am
no with this king of big candle (maribozu), they won't be any serious pulback.. i prefer to keep with the trend...i even removed my tp. will let it run a bit till tomorrow...because of the wide range bar
  • #4,465
  • Jul 26, 2012 6:20am Jul 26, 2012 6:20am
i have just moved stop loss to break even...even if i know price will not come to the entry level
  • #4,466
  • Jul 26, 2012 7:23am Jul 26, 2012 7:23am
if price does not move again, i will grab some profit...you can grab some too
  • #4,467
  • Jul 26, 2012 7:37am Jul 26, 2012 7:37am
dollar index is clearly down...
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  • #4,468
  • Jul 26, 2012 7:43am Jul 26, 2012 7:43am
if you like pips 525 pips so far
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  • #4,469
  • Edited 11:05am Jul 26, 2012 9:46am | Edited 11:05am
i was working outside today so i couldn't play. I think it will be time to short (soon)
  • #4,470
  • Jul 26, 2012 9:59am Jul 26, 2012 9:59am
I missed the long game too, was sleeping after closing the shorts
  • #4,471
  • Jul 26, 2012 11:29am Jul 26, 2012 11:29am
Quoting dailyking
if you like pips 525 pips so far
Nice job..
It is possible to make large sums trading, small losses, large wins
  • #4,472
  • Jul 26, 2012 11:45am Jul 26, 2012 11:45am
I missed most of the move myself due to sleep and work. I managed to grab a few pips but the bull was much stronger and faster than I expected. I'm done trading for the week and will look for setups next week. Good luck to you all and trade safe!
  • #4,473
  • Jul 26, 2012 8:12pm Jul 26, 2012 8:12pm
im putting short orders at 1.041 and sl 1.044. tp manual. either it bounce off or when it breaks, i will turn long again. yesterday was such a big movement. lost twice in scalping...
  • #4,474
  • Jul 27, 2012 12:38am Jul 27, 2012 12:38am
i'm not trading tomorrow because i'm tired ..but the aud/usd is long on intra day there is an opportunity...i will still leave the other trades in profits on...
  • #4,475
  • Jul 27, 2012 12:42am Jul 27, 2012 12:42am
im just entering to play around the resistance level.the bouncing will give me nice scalps actually.
  • #4,476
  • Jul 27, 2012 6:42am Jul 27, 2012 6:42am
ok. did you make pips?
  • #4,477
  • Edited 1:11pm Jul 27, 2012 12:53pm | Edited 1:11pm
So, last night i made some shorts with a few pips gained. But today i couldn't expect "super mario"could have this effect.
And today i made a huge mistake. This morning i place some sells but for one of them i forgot to put a SL and limit. And this evening when i checked my account i had an order with (eur/jpy)-130 pips for 3 lots. My limits were ok for the others trades.
Prices don't retrace and the close will be under big resistences. Next week can be bullish, so i closed my trade with a big loss.

Next week i will have to choose very carefully my trades. I have to gain 390 pips.
And perhaps i have to work on market moves. Because i could have found upside continuation. Next week 40 or 60 pips stop losses will be difficult for me.
DK, i hope you can give us some clues about market moves.

i need some holidays, i'm tired.
  • #4,478
  • Jul 27, 2012 1:23pm Jul 27, 2012 1:23pm
just the time to write this post and i could have been ok, prices are retracing.

Now i know i must be patient.
I trade during london session. I must work on american session and american psychology on markets (after london close).

In fact i expected a price correction earlier today (profit taking on friday). I didn't see on graphs it could happen later.

Next week will be a challenge for me.
  • #4,479
  • Jul 29, 2012 9:55pm Jul 29, 2012 9:55pm
Quoting plkdtm
So, last night i made some shorts with a few pips gained. But today i couldn't expect "super mario"could have this effect.
And today i made a huge mistake. This morning i place some sells but for one of them i forgot to put a SL and limit. And this evening when i checked my account i had an order with (eur/jpy)-130 pips for 3 lots. My limits were ok for the others trades.
Prices don't retrace and the close will be under big resistences. Next week can be bullish, so i closed my trade with a big loss.

Next week i will have to choose very carefully...
Tough luck..a 390pips goal is very attainable,but I think you need to consider your MM strategy..why not convert your 40-60pips SL into eg 5% of your equity,so that if you sustain a hit,it isn't so bad..you made a mistake,learn from it and move on..dnt look for a short term solution,look at the long term..if you get your 390pips this week, and repeat the same mistake next month,you could easily lose the entire account..this is coming from someone who has had to learn the hard way..green pips to you.
It is possible to make large sums trading, small losses, large wins
  • #4,480
  • Jul 30, 2012 12:16am Jul 30, 2012 12:16am
i've learned. I changed the default parameter of my order. A SL is putted by default.

So i can't forget.I'll just have to change the level, if i need to.
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