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  • #8,941
  • Oct 23, 2012 9:03am Oct 23, 2012 9:03am
Quoting MidnightRun
Dee,
Is the two-colour EMA in your chart a 89EMA? Thanks
There are 2 2colour emas 1x200, 1x50. 50 - 89??? which is the best???? Put both on a plain chart and see which one does it for you.

I use the 50 because more traders are using it. Supposedly
Some use the 89 because----- I do not know!!!
Cut your Losers short and let your Winners run.
  • #8,942
  • Oct 23, 2012 9:06am Oct 23, 2012 9:06am
Quoting dee50
+ 50 pips. All the info is on the charts. 1 Hr with 15 min confirmation
I took the same trade on the H1 on a cross of the 200 EMA....also for +50.....nice trading.
  • #8,943
  • Oct 23, 2012 9:10am Oct 23, 2012 9:10am
Quoting tp0440
+66 on EURUSD short, total with other pairs just above 110.

The problem is, I can't persuade myself to let the winners run. I should of totally take more.

Question: how do you best traders persuade yourself not to close a winning trade?

BR
I personally disconnect the mouse, after I have placed a trade and give it to my wife to hide. But then I found I could call the broker and have him close the trade early. So I had to give my wife the mobile phone as well as the mouse. After doing this for a while I eventually got out of the habit of closing my trades early.

I am not being sarcastic!!
Cut your Losers short and let your Winners run.
  • #8,944
  • Oct 23, 2012 9:19am Oct 23, 2012 9:19am
Quoting Phx62
I took the same trade on the H1 on a cross of the 200 EMA....also for +50.....nice trading.
Thanks. The cross of the 200 was a good enough signal, but to see that piddly little pullback confirm the lack of upward momentum made my comfort blanket feel even warmer.
Cut your Losers short and let your Winners run.
  • #8,945
  • Oct 23, 2012 9:45am Oct 23, 2012 9:45am
Quoting tp0440
+66 on EURUSD short, total with other pairs just above 110.

The problem is, I can't persuade myself to let the winners run. I should of totally take more.
Seriously. I suffered with the same malais for years. Have you ever tried to give up smoking or women, I do not recommend doing both together, for some it is a very difficult thing to do even with the help of artificial aids. In the end "you" have to decide to give up, it is not easy. I eased the path by taking partial profits if I thought I might lose out, this means you might make a little less money, to start with, but you get in the habit of leaving your final target where it is, eventually you can stop taking partial profits and enjoy the benefit of all the money.

Alternatively. You could back test your trades and see how many times your target would "actually" have been hit, would it really??? "Knowing" really helps to focus the mind.
Cut your Losers short and let your Winners run.
  • #8,946
  • Oct 23, 2012 9:58am Oct 23, 2012 9:58am
Quoting dee50
eventually you can stop taking partial profits and enjoy the benefit of all the money.

Alternatively. You could back test your trades and see how many times your target would "actually" have been hit, would it really??? "Knowing" really helps to focus the mind.
We have sell at 1.3030 partial exit at 1.30 and the balance still in with target just above W S1 1.2902. So far we have had a weak bounce up from W M2 at 1.2956. That was area of bounce up from 15 Oct. Below that next target W M1 1.2832.
  • #8,947
  • Oct 23, 2012 10:19am Oct 23, 2012 10:19am
Quoting dee50
I personally disconnect the mouse, after I have placed a trade and give it to my wife to hide. But then I found I could call the broker and have him close the trade early. So I had to give my wife the mobile phone as well as the mouse. After doing this for a while I eventually got out of the habit of closing my trades early.

I am not being sarcastic!!

I was thinking to actaully explain the reasons to enter a trade to my wife and let her monitor it. :-) Half joke, but also half true.

Well... I guess it's not correct to complain about profit, but I was expecting this for a lot of days and not didn't capitalize on it as I wanted. A lot of room for improvement.

BR
  • #8,948
  • Oct 23, 2012 10:23am Oct 23, 2012 10:23am
Quoting dee50
Seriously. I suffered with the same malais for years. Have you ever tried to give up smoking or women, I do not recommend doing both together, for some it is a very difficult thing to do even with the help of artificial aids. In the end "you" have to decide to give up, it is not easy. I eased the path by taking partial profits if I thought I might lose out, this means you might make a little less money, to start with, but you get in the habit of leaving your final target where it is, eventually you can stop taking partial profits and enjoy the...
I don't smoke and giving up women would probably not be welcomed by the mrs. So, the solution might be to start smoking and than quit. Thanks! At least this sould to be option nr. 1.

Alternative, scaling out sound better as my projected TPs are normaly hit soon. I just can't believe I didn't think of this ealier durring the trade on my own.

I'll try option nr. 2. next time.

BR
  • #8,949
  • Oct 25, 2012 9:55am Oct 25, 2012 9:55am
hi guys

Back from my business trip.
Entered short after 61.8 retracement with TDI cross confirming the down move.
Target at 40 pips ( 2X ATR from signal candle)
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  • #8,950
  • Oct 25, 2012 10:54am Oct 25, 2012 10:54am
HI Muni

Your 61.8% and confluence of the 138% extension and prior S&R, and Double top with divergence on the 15 min. Entered prior to the hourly signal at 1.3020 my TP has just been hit at 1.2950 which was the 78% retracement of todays low to high.

PS. Nice trade Muni. I need to try and get my charts as clean and uncluttered as you and Rick, I´m better than I was but I still have a ways to go.

PS. Do find the Pivots usefull?? I am not sure if they are more of a hindrance, what do you think?
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Cut your Losers short and let your Winners run.
  • #8,951
  • Oct 25, 2012 11:03am Oct 25, 2012 11:03am
As always great trade Dee!
Here is to 15M chart to complement Dee explanation
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  • #8,952
  • Oct 25, 2012 11:05am Oct 25, 2012 11:05am
This was on another thread posted by a chap called roulette.

"I performed a pivots review of EURUSD (actually I performed this analysis for all markets I trade) for the period 10/15/2002 thru 9/28/2012 (so about 10 years) and discovered the following:

~The Low <= S3 5.56% of the time
~The Low <= S2 16.56% of the time
~The Low <= S1 42.60% of the time
~The High >= R1 44.97% of the time
~The High >= R2 18.27% of the time
~The High >= R3 7.19% of the time


What does this mean to me?
Shorting below or near S2 and Buying above or near R2 is a low-probability play.

My procedures were taken from this article (I believe Dmitry first posted the link to the article, but I can't remember):
http://www.investopedia.com/articles...#axzz282lnHUbg

I hope this helps. "

This is the link to the actual post

http://www.forexfactory.com/showthre...60#post6128560
Cut your Losers short and let your Winners run.
  • #8,953
  • Oct 25, 2012 11:09am Oct 25, 2012 11:09am
Quoting munirpt
As always great trade Dee!
Here is to 15M chart to complement Dee explanation
Thanks for adding the chart, I should have done that, sorry.
Cut your Losers short and let your Winners run.
  • #8,954
  • Oct 25, 2012 11:10am Oct 25, 2012 11:10am
Quoting dee50
HI Muni

Your 61.8% and confluence of the 138% extension and prior S&R, and Double top with divergence on the 15 min. Entered prior to the hourly signal at 1.3020 my TP has just been hit at 1.2950 which was the 78% retracement of todays low to high.

PS. Nice trade Muni. I need to try and get my charts as clean and uncluttered as you and Rick, I´m better than I was but I still have a ways to go.

PS. Do find the Pivots usefull?? I am not sure if they are more of a hindrance, what do you think?
Thanks Dee. Im also trying to keep my chart as clean as possible. the more stuff i add, the worst my trading gets.

besides what you see on my chart i pay attention to the following:
- daily and 4H SR lines
- daily and 4H japanese candle
- pivots

pivots help me to get confluence with fibs and SR to get more confidence on reversals. but i think you can trade this system without pivots. i add them when i am not sure and im looking for more elements of confirmation.

my confirmation items are:
- fib levels
- SR
- pivots
- harmonics
- divergence

I also look at divergences on the 4H charts. these are excellent setups. for entries based on reversals the divergence on 15M are also very nice.

lets keep sharing!

Munir
  • #8,955
  • Oct 25, 2012 11:14am Oct 25, 2012 11:14am
Quoting dee50
This was on another thread posted by a chap called roulette.

"I performed a pivots review of EURUSD (actually I performed this analysis for all markets I trade) for the period 10/15/2002 thru 9/28/2012 (so about 10 years) and discovered the following:

~The Low <= S3 5.56% of the time
~The Low <= S2 16.56% of the time
~The Low <= S1 42.60% of the time
~The High >= R1 44.97% of the time
~The High >= R2 18.27% of the time
~The High >= R3 7.19% of the time


What does this mean to me?
Shorting below or near...
Very usefull to know this. Yelena from Symphonie thread made the same test and the results are similar.
  • #8,956
  • Oct 25, 2012 11:22am Oct 25, 2012 11:22am
Hi Munir

I have exactly the same criteria, except after years of having pivots on my charts I am beginning to wonder, price blows thru or over runs the pivots so often and if you have fibos on the chart you will see that there is normally a fib level close at hand. Saying that, I do take notice of the weekly pivots as price often stops or pauses at these levels, probably because so many swing traders use them.
Cut your Losers short and let your Winners run.
  • #8,957
  • Oct 26, 2012 9:26am Oct 26, 2012 9:26am
Just entered on hourly signal. I have been out all morning just returned in time for this signal, stop is B/E +6 have taken 50% off for +25, not sure this has got the legs to reach my final TP.

Is anybody there???
Knock once for Yes twice for No


Edit. Just got stopped at my B/E, Not surprising really, bounced off the 50EMA which was resistance earlier today and the 50%fibo of yesterdays high todays low. Some pips better than no pips.
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Cut your Losers short and let your Winners run.
  • #8,958
  • Oct 26, 2012 10:42am Oct 26, 2012 10:42am
Quoting dee50
Just entered on hourly signal. I have been out all morning just returned in time for this signal, stop is B/E +6 have taken 50% off for +25, not sure this has got the legs to reach my final TP.

Is anybody there???
Knock once for Yes twice for No


Edit. Just got stopped at my B/E, Not surprising really, bounced off the 50EMA which was resistance earlier today and the 50%fibo of yesterdays high todays low. Some pips better than no pips.
KNOCK !!
Thanks for posting Dee - very helpfull and much appreciated, also Munirpt
  • #8,959
  • Oct 28, 2012 12:05am Oct 28, 2012 12:05am
very informative input, thanks munirpt, dee 50, and other contributors. also enjoyed reading phx62's posts.
  • #8,960
  • Oct 29, 2012 1:50pm Oct 29, 2012 1:50pm
Hi guys

With such low volume is difficult to trade.
From LO till now, only 39 pips range.
Entered long on cross of TDI but ended leaving with 2 pips only.
If you look at News on Forex Factory, you will see that today there wasnt any red news, which explains the low volume.

Solutions when volume is very low>

1 . Do not trade
2 . Switch to 15 Min Timeframe and lower your targets

Hope that tomorrow the market will be more exciting
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