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Backing Trades Thru Charts

  • #6,861
  • Dec 3, 2012 1:20am Dec 3, 2012 1:20am
Quoting TheLastCoke
We are getting some place here....3 to 4% risk per trade with how many max. trades at the same time?
maximus 8-10% exposure at a time ... When multiple trades , Risk per trade goes down to 2-3% ... When all at BE , obviously risk exposure at that time is zero ...
Human
  • #6,862
  • Dec 3, 2012 6:33am Dec 3, 2012 6:33am
Quoting Chanya
maximus 8-10% exposure at a time ... When multiple trades , Risk per trade goes down to 2-3% ... When all at BE , obviously risk exposure at that time is zero ...
My intention is not to discuss your trading style; I am just giving you my opinion so you can understand a bit more my methodology.
I came to the following conclusions based on your posts:

1. You only trade S&R once because you think it may break after the 3rd test; on your EUR/AUD example you would have missed 4 opportunities

2. Basically with 10 consecutive losses your account may go down an average of -30%

3. You believe a “just a touch” entry is a blind entry

4. You think it is possible to predict with certainty the market direction

I can add the following:

1. Get rid of the idea that S&R will only work X amount of times

2. You may consider lowering your risk, there is a great possibility of blowing up your account

3. A touch trade involve the analysis of previous PA

4. Nobody knows a setup will work.

Observe that even thought my current open positions are not performing well, you can tell it was a calculated risk (4% max), on the other hand, your risk would have been probably 20% to 28% in the same situation.
  • #6,863
  • Dec 3, 2012 6:39am Dec 3, 2012 6:39am
Quoting Chanya
That is exactly what I am in to , learning what exactly PA means to you
I think this is the part where you wanted to get, note that these are BASIC examples and there are some other aspects that may affect the entry decision for each & unique setup. The following 8 examples are all at entry point testing a strong Bullish confluence level, could you tell me, from your point of view what example (s) will I trade? and why?

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Will be nice to know other members' point of view, feel free to participate.
  • #6,864
  • Dec 3, 2012 7:14am Dec 3, 2012 7:14am
Quoting TheLastCoke
EUR/USD Similar PA Pattern

Attachment
EUR/USD approaching DTL, I won't add any more positions due to MM.

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  • #6,865
  • Dec 3, 2012 7:41am Dec 3, 2012 7:41am
Quoting TheLastCoke
EUR/USD approaching DTL, I won't add any more positions due to MM.

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Hi LC I went short at 1.30500
  • #6,866
  • Dec 3, 2012 7:47am Dec 3, 2012 7:47am
Quoting fabx
Hi LC I went short at 1.30500
I would have been in too, under diferent circumstances. I want to give my trades a little more room & time. GL!
  • #6,867
  • Dec 3, 2012 7:52am Dec 3, 2012 7:52am
GBP/USD Bulls are looking in good shape, the confluence is strong and still, it seems like it is gonna be a break.

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  • #6,868
  • Dec 3, 2012 11:23am Dec 3, 2012 11:23am
Quoting TheLastCoke
I think this is the part where you wanted to get, note that these are BASIC examples and there are some other aspects that may affect the entry decision for each & unique setup. The following 8 examples are all at entry point testing a strong Bullish confluence level, could you tell me, from your point of view what example (s) will I trade? and why?

Attachment

Will be nice to know other members' point of view, feel free to participate.
I think You will trade 1,2 and 4 ... Reason would be that price is not lingering at the level, just testing it which means there is stronger chance of reversal . Right ?
Human
  • #6,869
  • Dec 3, 2012 5:52pm Dec 3, 2012 5:52pm
I like a break above .99510 then long on the retest.
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  • #6,870
  • Dec 3, 2012 9:19pm Dec 3, 2012 9:19pm
Quoting TheLastCoke
EUR/USD HH made, position are now completed, the SL for all of them will be around -4%, right now -2%. Keep in mind that this are based on a long term view.

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GBP/USD both entries will be closed at 1.6050, around 1% loss

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  • #6,871
  • Dec 3, 2012 9:44pm Dec 3, 2012 9:44pm
GBP/AUD This setup & updates were sent to our FCS Members.

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  • #6,872
  • Dec 3, 2012 10:55pm Dec 3, 2012 10:55pm
Interesting.
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  • #6,873
  • Dec 3, 2012 11:17pm Dec 3, 2012 11:17pm
H1 view.
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  • #6,874
  • Dec 4, 2012 10:09am Dec 4, 2012 10:09am
Quoting Winston Reed
Interesting.
GBP/AUD Perfect Performance

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  • #6,875
  • Dec 4, 2012 10:28am Dec 4, 2012 10:28am
Quoting TheLastCoke
GBP/AUD Perfect Performance

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Nice Coke!!!
  • #6,876
  • Dec 4, 2012 10:29am Dec 4, 2012 10:29am
Quoting Winston Reed
Nice Coke!!!
Thanks WR. SL to +30 now, currrently +90

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  • #6,877
  • Edited 12:37pm Dec 4, 2012 12:24pm | Edited 12:37pm
Quoting longshot_nl
i didn't forget.

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i got it after all...
little update of possible path... (but one wave at a time)
i believe we could be in wave 2 of 5.

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p.s. i just got short EU. not sure about target, maybe 1.3.
here parallels and matching fib.
it still looks good to me but not if another high is made.

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  • #6,878
  • Dec 4, 2012 4:41pm Dec 4, 2012 4:41pm
Quoting Ptitfour
Good Morning,

Sorry for this late updating operations.

Long only on €/$ device always in position for me.

My limit order was ok at 1.2885 precisely for 2 contract more (expected 38% Fibo from 1.2660 to 1.3010 moving up) and 1.2870 support line.

For this last entry actually + 104pips.

Resume
1, +320pips
1, +295pips
1, +244pips
2, +185pips
2, +104pips

-> Next step more 4 long contracts if 1.3010 breakup (stop buy 1.3013)

Target nearly 100pips with 1.3140 in extension (138% fib extension) as indicated on my daily charts (from...
Good evening,

Long only on €/$ device always in position for me. Swing trade on my daily chart with a 1.35 target.

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Bulls are in the market!
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Next step confirmed with my last buy entry stop for 4 contracts at 1.3013 as expected!

Resume 11.PM on hourly chart
1 +425pips
1 +398pips
1 +350pips
2 +290pips
2 +209pips
3 +81pips (sell 1 contract at 1.3093)

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I always wait a retracement for more long limit entry

-> Fibo 23%
-> Last break resistance 1.3010
-> Up trend line over 1.2975

So i prefer a good consolidation nearly 1.2985!!

From my point of view if prices stay over 1.2870 the market is bull, under that level bears will be more sturdy!

I precise my other next stop buy entry with 8 contracts to 1.3176 (no more long position between 1.3010 and 1.3176 at that moment)

All stop 1.2913

Good trade
  • #6,879
  • Dec 4, 2012 8:10pm Dec 4, 2012 8:10pm
What do you think about this?

New long term bullish trend?

Thank you for notices.
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  • #6,880
  • Dec 4, 2012 8:18pm Dec 4, 2012 8:18pm
Quoting Ptitfour
What do you about this?

Thank you for notices.
I was expecting a big rejection at the weekly TL, I guess you are more confident at this point. I'm gonna wait for this week to close to take a decision about my entries. (GBP/USD already has TP & SL).

Congrats!
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