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  • #8,761
  • Sep 29, 2012 2:16am Sep 29, 2012 2:16am
Quoting rsg10z
ok so whats your strategy? Im thinking to just put SL at BEP + 1 at 25 pips and simply let it run until it finish

also how if there's any high impact news during london session (also there are usually news 30 minutes after NO)? do you tend to avoid it or just put SL at 30 pips from current price or you just close your position or you just ignore it?

btw usually i use EU as instructed in Xman's pdf but last Friday i saw opportunity in GU while EU was going long for few hours so I decided to go with GU and my decision came to fruition (more than...
Mrs V and I exit at our targets (generally scalpers so +-30 pips) SR levels pivots, RN's etc. We avoid news (am looking at that) but GU generally goes in 1 direction (unlike US news that can be very erratic on pa). We would avoid without question NFP, UK interest rates, UK monetary policy minutes, EUR int rates and speeches.

We look to take a trade Lon morning session, (avoid any weak pre/early US counter days trend candles on 1hr) and take another trade US morning session. Exactly as per suggestion on thread.

Bottom line I know we exit early, but that works for us. What I do know is that 25-30 pip TS will see you exit many times only to see that trade continue to be successful.
  • #8,762
  • Sep 29, 2012 3:51am Sep 29, 2012 3:51am
Quoting Vantage
Mrs V and I exit at our targets (generally scalpers so +-30 pips) SR levels pivots, RN's etc. We avoid news (am looking at that) but GU generally goes in 1 direction (unlike US news that can be very erratic on pa). We would avoid without question NFP, UK interest rates, UK monetary policy minutes, EUR int rates and speeches.

We look to take a trade Lon morning session, (avoid any weak pre/early US counter days trend candles on 1hr) and take another trade US morning session. Exactly as per suggestion on thread.

Bottom line I know we exit early,...
ok thank you!
  • #8,763
  • Sep 29, 2012 8:09am Sep 29, 2012 8:09am
Look at how divergences play out nicely when prices are near OB/OS Areas
Attached Image (click to enlarge)
Click to Enlarge Name: divergences.jpg Size: 160 KB
  • #8,764
  • Sep 29, 2012 8:23am Sep 29, 2012 8:23am
Another look at divergences on Lower TF...

Look at the red circles. The best TDI crosses are the ones that happen near the yellow line
Attached Image (click to enlarge)
Click to Enlarge Name: divergence15M.jpg Size: 133 KB
  • #8,765
  • Sep 29, 2012 11:25am Sep 29, 2012 11:25am
never mind thanx

found my answers (I think)

however if you want to chime in please do

bill
  • #8,766
  • Sep 29, 2012 8:51pm Sep 29, 2012 8:51pm
Hi all, here are 2 trades I took on H4 TF.
2012-09-27
Gbpusd: long @ 1.62088 (vertical line), SL moved to BE when price moved about 28 pips in my favor, got stopped out @ BE becoz of bouncing.



2012-09-28
eurusd: long @ 1.29123 (vertical line), manually closed @ 1.29517 with a profit of about 40 pips when the price was getting close to the target 3 of the DinapoliTargets indicator.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd 2012-09-27.gif Size: 21 KB
Click to Enlarge Name: eurusd 2012-09-28.gif Size: 23 KB
  • #8,767
  • Sep 30, 2012 12:12am Sep 30, 2012 12:12am
Quoting munirpt
Another look at divergences on Lower TF...

Look at the red circles. The best TDI crosses are the ones that happen near the yellow line
thnx for that - well spotted, thats certainly something i will pay more attention to in future .
very helpful
  • #8,768
  • Sep 30, 2012 9:10am Sep 30, 2012 9:10am
Quoting munirpt
Another look at divergences on Lower TF...

Look at the red circles. The best TDI crosses are the ones that happen near the yellow line
I see you are using Rick´s setup and indicators, did you sign up for his training and if so how is it going. You certainly have got to grips with divergence, well done.

If you haven´t allready found this out, just remember that not every divergence plays out, allways wait for confirmation of the change of direction. And the lower the time frame the less reliable the divergence.
Cut your Losers short and let your Winners run.
  • #8,769
  • Sep 30, 2012 9:28am Sep 30, 2012 9:28am
Quoting dee50
I see you are using Rick´s setup and indicators, did you sign up for his training and if so how is it going. You certainly have got to grips with divergence, well done.

If you haven´t allready found this out, just remember that not every divergence plays out, allways wait for confirmation of the change of direction. And the lower the time frame the less reliable the divergence.
Hi Dee

first let me tell you that besides Rick, i also follow very closely your comments and charts as well as PHX62. you guys really mastered the system. im still a begginner...

Regarding Ricks course, I found it very valuable, it changed my perspective of the market as well as the way a professional trader should think and approach the learning stage of this skill.

the course is over, and now im trying to adapt a little bit the system he gave us, perform the backtesting, do some simulation to practice and identify clearly a setup in order to act without hesitation.

Munir
  • #8,770
  • Sep 30, 2012 1:40pm Sep 30, 2012 1:40pm
Quoting munirpt
Hi Dee

first let me tell you that besides Rick, i also follow very closely your comments and charts as well as PHX62. you guys really mastered the system. im still a begginner...

Regarding Ricks course, I found it very valuable, it changed my perspective of the market as well as the way a professional trader should think and approach the learning stage of this skill.

the course is over, and now im trying to adapt a little bit the system he gave us, perform the backtesting, do some simulation to practice and identify clearly a setup in order...
It has taken me 7 years to get to this point and along the way I have made a LOT of mistakes and subsequently wasted a lot of valuable time. You have done the best thing possible in doing Ricks course, it will have shortened your learning curve dramatically. The turning point for me was when I learnt to Back Test effectively, I logged all the data, compiled the statistics from that data and from that came the confidence to pull the trigger. "Knowledge is Power" If I wanted to know if a tweek would work, I Back Tested it, tedious, but the only way to really get the answers and the confidence.
Cut your Losers short and let your Winners run.
  • #8,771
  • Sep 30, 2012 3:15pm Sep 30, 2012 3:15pm
Quoting dee50
It has taken me 7 years to get to this point and along the way I have made a LOT of mistakes and subsequently wasted a lot of valuable time. You have done the best thing possible in doing Ricks course, it will have shortened your learning curve dramatically. The turning point for me was when I learnt to Back Test effectively, I logged all the data, compiled the statistics from that data and from that came the confidence to pull the trigger. "Knowledge is Power" If I wanted to know if a tweek would work, I Back Tested it, tedious, but the only...
Im studying forex for 7 months. I have been working very hard, and i believe im getting close to success. Backtesting and simulation are in my opinion the most important aspects of ones learning as well as developing a trading plan with completely objective rules. I also do my backtesting on an excel sheet. Its just amazing how much you learn while doing it.

keep your charts coming, they are very valuable to all of us.

Munir
  • #8,772
  • Oct 1, 2012 1:17am Oct 1, 2012 1:17am
As mentioned back testing is absolutely crucial but doesn't have to take that long. If you pick (for a 1hr entry system) from D chart 20 days general uptrend, 20 days downtrend and (most importantly) 20 days generally sideways market you should be OK. I'd also suggest you mark off major SR levels.
  • #8,773
  • Oct 1, 2012 2:56am Oct 1, 2012 2:56am
Attempt to trade the retracement of last Friday dip.
S3 H1 set up was straight forward.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 1 Oct H1 LO Trade 1-10-2012 3-34-07 PM.png Size: 25 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #8,774
  • Oct 1, 2012 4:02am Oct 1, 2012 4:02am
Easy trade on 1H EU for 65 pips
Attached Image (click to enlarge)
Click to Enlarge Name: EU1oct.jpg Size: 132 KB
  • #8,775
  • Oct 1, 2012 4:03am Oct 1, 2012 4:03am
Quoting emmanuel7788
Attempt to trade the retracement of last Friday dip.
S3 H1 set up was straight forward.
I have just closed the same trade 50pips profit... Its at 61.8 of days hi to low so may change back down Also near to 200EMA
  • #8,776
  • Edited 4:28am Oct 1, 2012 4:18am | Edited 4:28am
Quoting josh11
I have just closed the same trade 50pips profit... Its at 61.8 of days hi to low so may change back down Also near to 200EMA

yes, it is congested level with EMA200, fib 61.8%, DR1, RN ...
I took out one position and let remaining run proteceted at BE.
Today PA came off Demand on D so it is potential bullish reversal, but still too early, ... may be volatile with wide swings.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #8,777
  • Oct 1, 2012 4:22am Oct 1, 2012 4:22am
Quoting munirpt
Easy trade on 1H EU for 65 pips

very nice munirpt!
you took it early.
i was hesitating during Tokyo hours thinking Sydney market close and Japan new cabinet may cause some erratic market move. So I waited until LO. But it worked out well so far.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #8,778
  • Oct 1, 2012 4:25am Oct 1, 2012 4:25am
This helped me pull the trigger.
always look at your Higher Timeframe
Attached Image (click to enlarge)
Click to Enlarge Name: EU 4H.jpg Size: 112 KB
  • #8,779
  • Oct 1, 2012 4:29am Oct 1, 2012 4:29am
Quoting emmanuel7788
Attempt to trade the retracement of last Friday dip.
S3 H1 set up was straight forward.
Hi Emmanuel,

TDI green crossed yellow already happened 2 bars before LO. What made you still sure to take the entry 2 hours later on LO? I mean there's no indication of retrace or anything on H1 LO. Meanwhile if I went to M15, there was a retrace starting LO-1. Did you look at M15 for entry?

Thank you for sharing...
  • #8,780
  • Oct 1, 2012 4:42am Oct 1, 2012 4:42am
Quoting eth3onstock
Hi Emmanuel,

TDI green crossed yellow already happened 2 bars before LO. What made you still sure to take the entry 2 hours later on LO? I mean there's no indication of retrace or anything on H1 LO. Meanwhile if I went to M15, there was a retrace starting LO-1. Did you look at M15 for entry?

Thank you for sharing...

Hi eth,

You are right the TDI crossed much earlier. trading retracements is more risky but technicals were supporting this. Usually we can expect a retracement to 38% and 50% so I see there is enough room to partial exit and BE.
I also looked at other USD pairs - AU, NU and GU to see if there is sign of bullishness.

With narrow Asian session there is potential breakout and the little blue APB bars although very small, it shows bullish momentum. The FFM open candle GMT0600 was strong so I waited for a small retracement to get a better entry price.

Regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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