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Another simple system - Time-Frame 15

  • #11,641
  • Oct 29, 2012 11:51am Oct 29, 2012 11:51am
PA most probably bounce up from 2895 Area
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In trading, you have to be defensive and aggressive at the same time
  • #11,642
  • Oct 29, 2012 11:52am Oct 29, 2012 11:52am
Quoting pkimnyc
nice trade.
Thanks bud.

How is it over there? Are you near the shore?
What is any ocean but a multitude of drops?
  • #11,643
  • Oct 29, 2012 11:53am Oct 29, 2012 11:53am
Quoting Xhale12
Thanks bud.

How is it over there? Are you near the shore?
i'm still ok. just little rain, not much wind. thank god. nope, not near by the shore.
  • #11,644
  • Oct 29, 2012 11:55am Oct 29, 2012 11:55am
Quoting Xhale12
There it goes. +21. Calling it a day.
hi mate,

was in for this one aswell.
my only trade of the day as i was in uni...

really AWKWARD entry which i only did because i had to leave for class
SL was 7 pips.

not really the best thing to do..trading and jumping in because you don't have time.
+21, but TP at 800 ema didn't trigger so I just closed it manually when i came back...

peace and love
steph

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  • #11,645
  • Oct 29, 2012 11:56am Oct 29, 2012 11:56am
Quoting 99problems
hi mate,

was in for this one aswell.
my only trade of the day as i was in uni...

really AWKWARD entry which i only did because i had to leave for class
SL was 7 pips.

not really the best thing to do..trading and jumping in because you don't have time.
+21, but TP at 800 ema didn't trigger so I just closed it manually when i came back...

peace and love
steph

Attachment
dear rookies,

please don't take me as an example for your future trading. just terrible... trade could have gone anywhere still at that moment...
follow the advice of more experienced traders pls..
  • #11,646
  • Oct 29, 2012 11:58am Oct 29, 2012 11:58am
Quoting 99problems
hi mate,

was in for this one aswell.
my only trade of the day as i was in uni...

really AWKWARD entry which i only did because i had to leave for class
SL was 7 pips.

not really the best thing to do..trading and jumping in because you don't have time.
+21, but TP at 800 ema didn't trigger so I just closed it manually when i came back...

peace and love
steph

Attachment
that was a good entry, imo.
  • #11,647
  • Oct 29, 2012 12:03pm Oct 29, 2012 12:03pm
Quoting pkimnyc
that was a good entry, imo.
at the time when i took it i thought that the bounces were small enough and expected price to drop..

but my expectations usually mess things up lol

don't you think that this would have been much better (white box)?

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  • #11,648
  • Oct 29, 2012 12:05pm Oct 29, 2012 12:05pm
Quoting 99problems
at the time when i took it i thought that the bounces were small enough and expected price to drop..

but my expectations usually mess things up lol

don't you think that this would have been much better (white box)?

Attachment
not me. i like where you got in much better. lol.
  • #11,649
  • Oct 29, 2012 12:06pm Oct 29, 2012 12:06pm
Quoting pkimnyc
not me. i like where you got in much better. lol.
As do I. I think it's a great trade.
What is any ocean but a multitude of drops?
  • #11,650
  • Oct 29, 2012 12:09pm Oct 29, 2012 12:09pm
Quoting pkimnyc
not me. i like where you got in much better. lol.
most of the time the price breaks when it bounces on the 200 ema...
but wouldn't a break with a confirmation of the 10 ema that holds firm below the 200 ema be even safer?

peace and love
  • #11,651
  • Oct 29, 2012 12:12pm Oct 29, 2012 12:12pm
Quoting 99problems
most of the time the price breaks when it bounces on the 200 ema...
but wouldn't a break with a confirmation of the 10 ema that holds firm below the 200 ema be even safer?

peace and love
think about in terms of risk vs reward. compare it with your entry. which one would have given you smaller risk? your entry? or the second one?

you had a setup. although you didn't have a confirmation, the risk was so small. it was worth a shot, imo.

nice entry, great trade.
  • #11,652
  • Oct 29, 2012 12:16pm Oct 29, 2012 12:16pm
This morning I got another two trades: one classic and one CT trade. I think its a text book, but I'm not 100% sure, just believe so. Please correct me if I'm wrong.

Since LO i got 5 trades total: 4 winners (+52) and one looser (-7)
Today total: +45

Time to take care of my family and later to continue reading this thread.

Have a nice day kind people!
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  • #11,653
  • Oct 29, 2012 12:18pm Oct 29, 2012 12:18pm
Quoting pkimnyc
think about in terms of risk vs reward. compare it with your entry. which one would have given you smaller risk? your entry? or the second one?

you had a setup. although you didn't have a confirmation, the risk was so small. it was worth a shot, imo.

nice entry, great trade.
hope you weather the storm all right, pk.......read it may make landfall further south so good for NYC if so
  • #11,654
  • Oct 29, 2012 12:22pm Oct 29, 2012 12:22pm
Quoting pkimnyc
think about in terms of risk vs reward. compare it with your entry. which one would have given you smaller risk? your entry? or the second one?

you had a setup. although you didn't have a confirmation, the risk was so small. it was worth a shot, imo.

nice entry, great trade.
thanks buddy..
i'm just trying to put almost all odds in my favor. i'm relatively new to forex and need to establish a thinking process of risk and reward.
in hindsight i would have put a SL just above the 10 ema/candle high of the confirmation i mentioned...but that candle could have for example had a 10 pip wick, what then ?!

thanks for helping me ..

hope the hurricane won't get anywhere close too you brother

peace and love
steph
  • #11,655
  • Oct 29, 2012 12:25pm Oct 29, 2012 12:25pm
Quoting roro53
hope you weather the storm all right, pk.......read it may make landfall further south so good for NYC if so
i'm good bro. thanks for asking.
  • #11,656
  • Oct 29, 2012 12:29pm Oct 29, 2012 12:29pm
Quoting 99problems
thanks buddy..
i'm just trying to put almost all odds in my favor. i'm relatively new to forex and need to establish a thinking process of risk and reward.
in hindsight i would have put a SL just above the 10 ema/candle high of the confirmation i mentioned...but that candle could have for example had a 10 pip wick, what then ?!

thanks for helping me ..

hope the hurricane won't get anywhere close too you brother

peace and love
steph
that's exactly my point. 10 pips + spread = 11 to 12 pips vs. 7 pips. can't beat that.
  • #11,657
  • Oct 29, 2012 1:31pm Oct 29, 2012 1:31pm
Quoting loveevery1
Now whoever changed the their risk to whatever amount....Not a good idea...you are not sitcking to your plan.Nothing is 100% sure...Plz dont think i can be 100% sure....then i will be richest man on this earth...

I ask these type of questions to trigger your inner energy.thats all...always stick to ONE and MASTER IT....whatever it might be...
I will continue posting about psychology....
Currency pairs will not move in one single direction forever. So sooner or later the price will go to near where we enter the trade and give that 5 pips. That 5 pips might come in a few seconds or in 50 years.

So all the trades that we have entered, winners and losers, have actually been guaranteed to give 5 pips. We got losers because price reached the SL or broker called the margin, before the trade gave that 5 pips.

The same with all future trades inherently they will all be guaranteed to give 5 pips so if a trader has no SL, has unlimited amount of money to fund the account as to avoid margin call, and is willing to wait undeterminately, he will get that 5 pips.

But such trader does not exist thus as Arjun says we should trade as normal no change in lotsize whatsoever.
  • #11,658
  • Oct 29, 2012 3:07pm Oct 29, 2012 3:07pm
I have to be honest.I love this thread but I have serious dislike of lagging indicators specially TDI that is being used here a lot.
I just think traders ditching crap indicators and going close to naked charts are really getting it and traders who need 5-10 "confirmations" are clueless.
Since I am honest I also dislike HEKINASHI candles.If one has to see red or blue to figure direction then you are clueless and blind.

Now that is out of my chest I am tightening my seat belt for bashing.
In trading, you have to be defensive and aggressive at the same time
  • #11,659
  • Oct 29, 2012 3:13pm Oct 29, 2012 3:13pm
"Regulators and exchange operators have decided to close U.S. equity trading for a second straight day Tuesday as Hurricane Sandy bears down on the Eastern United States."
What is any ocean but a multitude of drops?
  • #11,660
  • Oct 29, 2012 3:23pm Oct 29, 2012 3:23pm
Quoting Davit
I have to be honest.I love this thread but I have serious dislike of lagging indicators specially TDI that is being used here a lot.
I just think traders ditching crap indicators and going close to naked charts are really getting it and traders who need 5-10 "confirmations" are clueless.
Since I am honest I also dislike HEKINASHI candles.If one has to see red or blue to figure direction then you are clueless and blind.

Now that is out of my chest I am tightening my seat belt for bashing.
not bashing your statement about indicators... but... price alone does not provide enough information, imo. hence, use of indicators can be the supporting tools, i think.

i do agree to a certain extent. some confirmations on indicators can be overruled.
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