PA by Julexo | Page 139 | Forex Factory

Options

Go to
Permalinks
Print Thread
Attachments: PA by Julexo
Exit Attachments

PA by Julexo

  • #2,761
  • Oct 18, 2012 1:32pm Oct 18, 2012 1:32pm
Google oops: http://professional.wsj.com/article/...ml?mg=reno-wsj
  • #2,762
  • Oct 18, 2012 1:37pm Oct 18, 2012 1:37pm
Quoting pkj
I was reading this thread at school and found motivation for another go with forex.
Because I can only trade US session and I have not managed to make consistent wins at smaller timeframes I'm trying to trade the big timeframes with too much risk%(nothing I can't afford to loose tho).

When xologeis took that long trade on EUR/USD 15M I was looking for a bigger picture short and because I had to leave PC I took it after this bar on 15M.

My idea was to get a good enough R/R for tg 1.3

Is this something I shouldn't be doing at all? I would have...
Looks good now

edit: I was also looking at AUD/USD and GBP/USD. But decided it's basically the same trade and chose EUR/USD. Cable would have maybe been better setup tho?
  • #2,763
  • Oct 18, 2012 1:39pm Oct 18, 2012 1:39pm
Quoting Julexo
hope this one...get's there...
2/3 closed
  • #2,764
  • Oct 18, 2012 1:45pm Oct 18, 2012 1:45pm
Quoting xologeis
Google oops: http://professional.wsj.com/article/...ml?mg=reno-wsj
one day all bastards goes on bankrupcy
  • #2,765
  • Oct 18, 2012 1:49pm Oct 18, 2012 1:49pm
Quoting pkj
Looks good now

edit: I was also looking at AUD/USD and GBP/USD. But decided it's basically the same trade and chose EUR/USD. Cable would have maybe been better setup tho?
Don't worry too much what others are doing, have your own plan and follow it. Both Julexo and I at times had opposite positions and we both made money ;D

The single most important thing to get somewhere in trading is setting parameters for a trade that keep you from making it up as you go. That's what gets you into trouble. Trade small... tiny to start... so that you can leave your trades to do what they will.

I trade both directions at the same time on different accounts, bigger timeframe setups, pre-planned and mapped out that I leave alone, and scalp
away for others. But I have a reason for each and parameters that tell me when they are not doing what I want.

So keep yourself from going insane (the market will get you crazy really quickly if you let it) ;D
  • #2,766
  • Oct 18, 2012 1:54pm Oct 18, 2012 1:54pm
GU about to hit TP

Attached Image (click to enlarge)
Click to Enlarge Name: 121018 - gu - short close to tp.gif Size: 7 KB


EU longs at lower median after surprise wears off might run out of steam and step back up... either way tight stops and almost done with my beer ;D

Attached Image (click to enlarge)
Click to Enlarge Name: 121018 - eu - long off lower median.gif Size: 11 KB
  • #2,767
  • Oct 18, 2012 2:00pm Oct 18, 2012 2:00pm
Quoting xologeis
The single most important thing to get somewhere in trading is setting parameters for a trade that keep you from making it up as you go. That's what gets you into trouble. Trade small... tiny to start... so that you can leave your trades to do what they will.

I trade both directions at the same time on different accounts, bigger timeframe setups, pre-planned and mapped out that I leave alone, and scalp
away for others. But I have a reason for each and parameters that tell me when they are not doing what I want.

So keep yourself from going insane...
I have been trading demo/real for some time now. Every time I figure out a way to possibly make money and start develpoing on that I just realize over and over again that trading small enough timeframes from S/R areas(FX) is the only true way to make trading financially worth the effort.
And then I try to jump it with 10 pairs and can't keep up with what I'm doing.
This time I'm trying to trade less(I only took the eur this time when I could have taken AUD and GBP also) and trade big enough picture and slowly go up from there as I learn.

I'm planning something like that what you do. I like the idea of having a long period trade and kinda hedging and adding to it on smaller timeframes.
  • #2,768
  • Oct 18, 2012 2:03pm Oct 18, 2012 2:03pm
Quoting pkj
Looks good now

edit: I was also looking at AUD/USD and GBP/USD. But decided it's basically the same trade and chose EUR/USD. Cable would have maybe been better setup tho?
It is fine to choose one but I usually spread my bets over a few pairs. E.g. if you are looking at GU and EU then you might want to have EUR/GBP up as well to see which way it is heading. Cross referencing like that helps give you an idea what moves are about and which to choose if you have to decide. E.g. if you look right now EU and GU are reacting but AU and EJ are not really. So you can figure out what is the general market sentiment as to risk on/off etc.
So e.g. like earlier this week UJ was pushing up strongly and so was EU, strong euro, weak yen, EJ was a good play too...
  • #2,769
  • Oct 18, 2012 2:08pm Oct 18, 2012 2:08pm
Quoting xologeis
It is fine to choose one but I usually spread my bets over a few pairs. E.g. if you are looking at GU and EU then you might want to have EUR/GBP up as well to see which way it is heading. Cross referencing like that helps give you an idea what moves are about and which to choose if you have to decide. E.g. if you look right now EU and GU are reacting but AU and EJ are not really. So you can figure out what is the general market sentiment as to risk on/off etc.
So e.g. like earlier this week UJ was pushing up strongly and so was EU, strong euro,...
Looking at EUR/GBP it's clear I should have chosen cable to go with. The chart of cable looks better anyways.
I'm not sure why I wen't with EUR/USD. Possibly saw a better(clear) path to my target.
edit: looks like I got closer stop from EUR/USD and as I said earlier my account is very small and I'm risking high%

Why I didn't take all of them is because they're all against USD and if I wan't to trade 3 slots I should propably choose the best looking pair and go with 3 slots on that?
  • #2,770
  • Oct 18, 2012 2:09pm Oct 18, 2012 2:09pm
Quoting pkj
I have been trading demo/real for some time now. Every time I figure out a way to possibly make money and start develpoing on that I just realize over and over again that trading small enough timeframes from S/R areas(FX) is the only true way to make trading financially worth the effort.
And then I try to jump it with 10 pairs and can't keep up with what I'm doing.
This time I'm trying to trade less(I only took the eur this time when I could have taken AUD and GBP also) and trade big enough picture and slowly go up from there as I learn.

I'm...
To start you should only be trading 2-3 pairs max. One is probably best. Forget about the others and "missing" trades. Forget about making money. Your trading should consist totally of setting up trade ideas and executing them. Period. You should be trading the minimum you can. Yes you probably feel like you're wasting time or "it's not enough to make me care" but as I said you should be focusing solely on executing. Let it become 2nd nature. You will jump ahead of 99.9% of traders who (as I did) blow 3 or 4 accounts before they do the above ;p
  • #2,771
  • Oct 18, 2012 2:14pm Oct 18, 2012 2:14pm
Everyone saw the drop and thought FINALLY... now they are wondering... what do you think the whales are thinking?

Attached Image (click to enlarge)
Click to Enlarge Name: 121018 - eu - long off lower median - 1 - m5.gif Size: 10 KB
  • #2,772
  • Oct 18, 2012 2:23pm Oct 18, 2012 2:23pm
Quoting xologeis
Everyone saw the drop and thought FINALLY... now they are wondering... what do you think the whales are thinking?

Attachment
the whales are the bears today
I'll Sell when price is heading to Hell
  • #2,773
  • Oct 18, 2012 2:23pm Oct 18, 2012 2:23pm
Quoting xologeis
Everyone saw the drop and thought FINALLY... now they are wondering... what do you think the whales are thinking?

Attachment
I'm not sure what you mean but support at 1.306 was expected. Now it's going to 1.308 or 1.304 and go to my target of 1.3 from there

Who do you mean when you talk of whales? In poker terms whales are the food for sharks.
  • #2,774
  • Oct 18, 2012 2:23pm Oct 18, 2012 2:23pm
Quoting pkj
edit: looks like I got closer stop from EUR/USD and as I said earlier my account is very small and I'm risking high%
You can build a small account quickly without risking high %. You will not be able to relax and take stops. Look at the longs I have on EU now, I will most likely be stopped out. But look at the R:R. I will let it stop me out and not blink. My trade entries and position size is completely automated, I wrote code to calculate position size from lines I place on the chart for entry, stop and target. Both entries are still under 0.5% of the account they are in, even though its only a 10/12 pip stop. But I have initial targets that look to be easy to get to if I am right and once it shows it wants to move in my direction I add and shift targets up while protecting profit. I can generate massive R:R ratios by simply not letting myself be pulled by making a killing up front and letting it GIVE me money, not having to sweat for it ;p

If you are not enjoying your trading then you are risking too much and can't adapt to the market. You will learn either way, trading was one of the best teachers I've ever had about my own psychology etc.
  • #2,775
  • Oct 18, 2012 2:31pm Oct 18, 2012 2:31pm
Quoting xologeis
You can build a small account quickly without risking high %. You will not be able to relax and take stops.

If you are not enjoying your trading then you are risking too much and can't adapt to the market. You will learn either way, trading was one of the best teachers I've ever had about my own psychology etc.
I have my risk and psychological aspects covered. It's not the first "gambling" hobby for me

The thing is that I'm just not ready to trade the small timeframes with tight SL yet. That way I won't be able to relax and take stops. I get confused and start blaming myself for making too many (bad)decisions too fast.
But I'll get there...
  • #2,776
  • Oct 18, 2012 2:31pm Oct 18, 2012 2:31pm
Quoting pkj
I'm not sure what you mean but support at 1.306 was expected. Now it's going to 1.308 or 1.304 and go to my target of 1.3 from there
Attached Image (click to enlarge)
Click to Enlarge Name: 121018 - eu - long off lower median - 2 - m5.gif Size: 13 KB


Quote
Who do you mean when you talk of whales? In poker terms whales are the food for sharks.

Whales are traders moving big volume. They are looking to fill orders and buy/sell at places where retail is jumping on late. You can usually see their order flow where price kicked away at speed. So in trading whales are the sharks and the rest are guppies ;D
  • #2,777
  • Oct 18, 2012 2:33pm Oct 18, 2012 2:33pm
Quoting pkj
I have my risk and psychological aspects covered. It's not the first "gambling" hobby for me

The thing is that I'm just not ready to trade the small timeframes with tight SL yet. That way I won't be able to relax and take stops. I get confused and start blaming myself for making too many (bad)decisions too fast.
But I'll get there...
But that's just it. It is much easier to take a small stop on a smaller timeframe than take a 100 pip stop on H4 with a small acount.
And besides, thats not taking a stop, that's thinking it won't get there and 'hopium" ;D
  • #2,778
  • Oct 18, 2012 2:45pm Oct 18, 2012 2:45pm
Quoting xologeis
But that's just it. It is much easier to take a small stop on a smaller timeframe than take a 100 pip stop on H4 with a small acount.
And besides, thats not taking a stop, that's thinking it won't get there and 'hopium" ;D
Anyway if I sound preachy, not my intention, just trying to help new traders jump over some of the big traps starting out. Feel free to ignore me.

And now, my beer is empty. Enjoy and good habits. Good night.
  • #2,779
  • Oct 18, 2012 2:45pm Oct 18, 2012 2:45pm
Quoting xologeis
But that's just it. It is much easier to take a small stop on a smaller timeframe than take a 100 pip stop on H4 with a small acount.
And besides, thats not taking a stop, that's thinking it won't get there and 'hopium" ;D
When I put the chips in the middle the only thing I care about is that it was the right move. When playing small timeframes and having to make (bad)decisions too fast when I'm not yet good enough is what fucks things up for me.

Anyway I closed the trade(1.306 was the first target) and I think entering short from around 1.308 would be the way to go but it's almost end of the session and I need to wake up early.

edit: And I respect all the help I can get.
  • #2,780
  • Oct 18, 2012 2:48pm Oct 18, 2012 2:48pm
Off to bed, let it do what it will... gnite!

Attached Image (click to enlarge)
Click to Enlarge Name: 121018 - eu - long off lower median - 3 - m5.gif Size: 10 KB
2 traders viewing now