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Following the big money

  • #621
  • Sep 28, 2012 2:42am Sep 28, 2012 2:42am
Missed the 1st entry at 1.2923/4, but this one is not that bad so far. 1st part at +5.8p, 2nd at +11.1, stop at -4.4p.
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  • #622
  • Sep 28, 2012 2:50am Sep 28, 2012 2:50am
Stop at BE
  • #623
  • Sep 29, 2012 2:15am Sep 29, 2012 2:15am
srmfx!

Thank you for showing us your trades! It's very interesting to follow your thread!
  • #624
  • Oct 2, 2012 2:24am Oct 2, 2012 2:24am
Thank you dim4ik42

My trades from this morning. Second position was opened almost immediately after 1st one was closed. The last one is still live.
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  • #625
  • Oct 2, 2012 2:30am Oct 2, 2012 2:30am
Stop at BE
  • #626
  • Oct 5, 2012 2:57am Oct 5, 2012 2:57am
Trading the pre-NFP range.
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  • #627
  • Oct 11, 2012 6:17am Oct 11, 2012 6:17am
STE from today
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Click to Enlarge Name: eur ste.png Size: 51 KB
  • #628
  • Oct 11, 2012 6:43am Oct 11, 2012 6:43am
Limit hit at 1.2926 for 60 pips profit for the last part.
  • #629
  • Oct 12, 2012 2:19am Oct 12, 2012 2:19am
+5.4, +10.5, +30.4
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  • #630
  • Oct 12, 2012 2:33pm Oct 12, 2012 2:33pm
Quoting srmfx
+5.4, +10.5, +30.4
Did you enter here because the Eurjpy was at support, and failed to go lower?

I took a eur trade at the exact same time but it was EJ, not EU. Didnt find any technicals to long eurusd
  • #631
  • Oct 15, 2012 2:41am Oct 15, 2012 2:41am
Quoting adaseb
Did you enter here because the Eurjpy was at support, and failed to go lower?

I took a eur trade at the exact same time but it was EJ, not EU. Didnt find any technicals to long eurusd
I use EUR/JPY as filter. Sometimes the cross is leading.

Long at round number. Last part at +40 pips.
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  • #632
  • Oct 15, 2012 3:18am Oct 15, 2012 3:18am
Quoting srmfx
I use EUR/JPY as filter. Sometimes the cross is leading.

Long at round number. Last part at +40 pips.
So you only trade around the london open? You don't go into london lunch or NY open?
  • #633
  • Oct 15, 2012 5:01am Oct 15, 2012 5:01am
Quoting adaseb
So you only trade around the london open? You don't go into london lunch or NY open?
I try to catch the first swing just before or after the London open. It is logical the price move to begin when a major financial center starts to operate.
  • #634
  • Oct 16, 2012 10:48pm Oct 16, 2012 10:48pm
srmfx,

First of all, great thread. I've read the whole thread and enjoyed it a lot. Now I have more questions than answers. I am trying to observe the quotes and 1M chart to gain more insight and i'm hoping you can clarify a few things for me.

Attached is a screen shot of the EUR 1M during the aussie session. There was price action at the round price level 1.31000:

1. At 02:23, How do you tell if it is a real resistance level break or if it is just stop hunting? The 02:23 candle closed 2 pips above the round level resistance, followed immediately by a bearish candle....I initially thought stop hunting in the making, but then it shot up 23pips in 4min.

2. At 02:54, What would stop you from taking this trade long at 50EMA? I was watching the quotes and it just stopped and froze right on 50EMA for ~1min. I thought it was a long, but that one didn't turn out. Am I missing something?

3. At 03:03, How do you tell it is stop hunting? or better put, are there tell tale signs of stop hunting as opposed to a real move down. I was tempted to go long at the round level of 1.3100 and 100EMA

Thanks in advance.
Attached Image (click to enlarge)
Click to Enlarge Name: eur 1m 2012-10-17 aussie session.gif Size: 31 KB
  • #635
  • Oct 17, 2012 1:58am Oct 17, 2012 1:58am
Great Thread! I will surely follow.
  • #636
  • Oct 17, 2012 2:34am Oct 17, 2012 2:34am
Quoting backpack
srmfx,

First of all, great thread. I've read the whole thread and enjoyed it a lot. Now I have more questions than answers. I am trying to observe the quotes and 1M chart to gain more insight and i'm hoping you can clarify a few things for me.

Attached is a screen shot of the EUR 1M during the aussie session. There was price action at the round price level 1.31000:

1. At 02:23, How do you tell if it is a real resistance level break or if it is just stop hunting? The 02:23 candle closed 2 pips above the round level resistance, followed...
Hi backpack,
I trade only the European session and sometimes US. Asian session has low liquidity and the chart and quote reading is not reliable. So I will not comment this chart.
You don't know in advance if certain support or resistance level will be broken and the bad news is that you don't know after the initial break either. You have to wait for the break and then watch the price action. Also you should analyze the level in the context of the overall trend. For example, if the market is in an uptrend and the stops are placed below support level, major participants may use the stop to fill their buy orders. So they will initiate stop hunting and when the break out traders enter on stop they will buy and then reverse the market up. No one will notice that they build a long position and they will have a better price.
In short, when the price is around support or resistance with stops and bids/offers around this level first you have to see where this level is situated in the overall trend (e.g. if it is support in an uptrend it should hold). Then watch the quotes to see if big orders enter the market in the direction of the trend (if they buy above support in uptrend the level should hold). Large tick means large order. If you are wrong you have your protective stop.
  • #637
  • Oct 17, 2012 2:42am Oct 17, 2012 2:42am
MOnday we had very interesting situation. Someone was buying aggressively as you can see on the 1M chart. Protracted move up with very small pullbacks. I was watching the quotes. Every downtick was bought.


On the daily chart the candle had small body which usually means indecision. And the next day the pair broke above the triangle pattern.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur.gif Size: 19 KB
Click to Enlarge Name: eurd.gif Size: 19 KB
  • #638
  • Oct 17, 2012 6:44pm Oct 17, 2012 6:44pm
Quoting srmfx
MOnday we had very interesting situation. Someone was buying aggressively as you can see on the 1M chart. Protracted move up with very small pullbacks. I was watching the quotes. Every downtick was bought.


On the daily chart the candle had small body which usually means indecision. And the next day the pair broke above the triangle pattern.

interesting! i subscribe
  • #639
  • Oct 18, 2012 2:37am Oct 18, 2012 2:37am
That is what I'mm looking for when I read the quotes. Smaller ticks in one direction covered by one tick in the opposite when the price approaches level with orders (in this case bids). This means that someone is buying in large amounts.
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  • #640
  • Oct 18, 2012 5:40am Oct 18, 2012 5:40am
This is my quote reading buy set up. The price approaches the level with smaller ticks and jumps off it with one much larger tick that covers at least of ticks in the opposite direction. I usually enter in points 2 or 3. The initial stop is two pips below the low and is usually 2 pips.
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