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  • #641
  • Dec 7, 2012 2:49am Dec 7, 2012 2:49am
and smack down .
then break it ( closing price 2011 ) again and keep below closing price 2011 in my side

Quoting NuNix
Are you remember this?
Now price has touched 1.292x and 50 on rsi. I start looking for a little pullback from here or better wait till the NFP news
not euphoria follower
  • #642
  • Dec 7, 2012 2:54am Dec 7, 2012 2:54am
Quoting NuNix
Are you remember this?
Now price has touched 1.292x and 50 on rsi. I start looking for a little pullback from here or better wait till the NFP news
Is this the signal?
Attached Image (click to enlarge)
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Dangdut is a music of my country
  • #643
  • Dec 7, 2012 2:57am Dec 7, 2012 2:57am
what about higher tf say 4H...where is the 200 ? price just failed to back above the 200 in h1. next is the 200 of h4. imho


Quoting NuNix
Is this the signal?
not euphoria follower
  • #644
  • Dec 7, 2012 3:05am Dec 7, 2012 3:05am
Quoting iqyu5an
what about higher tf say 4H...where is the 200 ? price just failed to back above the 200 in h1. next is the 200 of h4. imho
Price is 40 pips higher than the 200 on 4H, and 80 pips below the 200 on 1H. I am still waiting.
Dangdut is a music of my country
  • #645
  • Dec 7, 2012 3:08am Dec 7, 2012 3:08am
Guys,
A couple of you have been asking where to exit trades.
A rule I have been following is to target 127% of the AB leg and / or the 161.8% move of the BC leg.
See the attached chart of the 5 min and you will see it was a perfect place to exit. Many times you will see that both projections are close together, adding strength to the exit.
I used the same exit on the big move down yesterday, all done while I was sleeping. I did not capture all the move , but I was happy with 50 pips.
Also notice that the retracement ( A of the ZW ) is approx 61.8% as is retracement of the AB leg and so is the retracement of AB.
Unlike 9er who trades using pending orders, I enter the trade manually at the levels the moment I see hesitation keeping a fairly tight stop. There was nice pips to be made using 9er's pending order.
I have blown the chart up to make it easier to see.
gregben
Attached Image (click to enlarge)
Click to Enlarge Name: 5 min.jpg Size: 159 KB
  • #646
  • Dec 7, 2012 3:13am Dec 7, 2012 3:13am
Quoting gregben
Guys,
A couple of you have been asking where to exit trades.
A rule I have been following is to target 127% of the AB leg and / or the 161.8% move of the BC leg.
See the attached chart of the 5 min and you will see it was a perfect place to exit. Many times you will see that both projections are close together, adding strength to the exit.
I used the same exit on the big move down yesterday, all done while I was sleeping. I did not capture all the move , but I was happy with 50 pips.
Also notice that the retracement ( A of the ZW ) is approx...
thanks for the sharing gregben. learning something again today
  • #647
  • Dec 7, 2012 3:16am Dec 7, 2012 3:16am
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
Hey the fact that you are even trading today is a testament to your moxy!

Quoting vahn
i am still learning, bro. just learned from what 9er did in his trade in this thread. i still confuse about exit strategy. my position got hit. only +15 and +1 profit

bias in H4 has changed into bearish. next support is MA 200
  • #648
  • Dec 7, 2012 3:21am Dec 7, 2012 3:21am
Quoting iqyu5an
yap... too far ( imho )

this what i see in 4H
http://www.forexfactory.com/attachme...0&d=1354615844
.
Attached Image (click to enlarge)
Click to Enlarge Name: pvjj1038.gif Size: 21 KB
not euphoria follower
  • #649
  • Dec 7, 2012 3:34am Dec 7, 2012 3:34am
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
Very nicely put Gregben. The underlying message being do what comes natural to you. Just because I trade one way does not mean you should mirror my entry and exit strategies: EXCEPT FOR REMOVING RISK! This should be every traders NUMBER 1 priority when a trade opens. Lock in profit or move to BE as soon as possible.

Very nice post my man

Quoting gregben
Guys,
A couple of you have been asking where to exit trades.
A rule I have been following is to target 127% of the AB leg and / or the 161.8% move of the BC leg.
See the attached chart of the 5 min and you will see it was a perfect place to exit. Many times you will see that both projections are close together, adding strength to the exit.
I used the same exit on the big move down yesterday, all done while I was sleeping. I did not capture all the move , but I was happy with 50 pips.
Also notice that the retracement ( A of the ZW ) is approx 61.8%...
  • #650
  • Dec 7, 2012 3:43am Dec 7, 2012 3:43am
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
4H getting ready to test the lower trend line
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  • #651
  • Dec 7, 2012 3:46am Dec 7, 2012 3:46am
9er,
Thanks. I have always endevoured to move the SL to BE as soon as possible, but sometimes I do it prematurely and get taken out only to see the trade move again in my direction. I then hesitate about re-entering and generally make poor decisions. Do your have a set number of pips you are in profit before going to BE? Of course it would vary with the timeframe you are using.
gregben
  • #652
  • Dec 7, 2012 3:56am Dec 7, 2012 3:56am
Divergence.

Entered this trade as a specky purely based on divergence. See chart showing divergence on RSI ( over sold area ) and AO compared to price. Also price was at the Daily S1 level. I have 13 pips locked in and will continue to move stop iu under price. Have set target just under 200 SMA.
gregben
Attached Image (click to enlarge)
Click to Enlarge Name: 5 min divergence.jpg Size: 161 KB
  • #653
  • Dec 7, 2012 4:06am Dec 7, 2012 4:06am
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
It does vary by the TF but generally anywhere between 8 to 10 pips I move to BE plus or minus .01 pips (must always make SOMETHING, as this is a benefit of the 5 digit broker)

Quoting gregben
9er,
Thanks. I have always endevoured to move the SL to BE as soon as possible, but sometimes I do it prematurely and get taken out only to see the trade move again in my direction. I then hesitate about re-entering and generally make poor decisions. Do your have a set number of pips you are in profit before going to BE? Of course it would vary with the timeframe you are using.
gregben
  • #654
  • Edited 5:05am Dec 7, 2012 5:04am | Edited 5:05am
Quoting 9er
It does vary by the TF but generally anywhere between 8 to 10 pips I move to BE plus or minus .01 pips (must always make SOMETHING, as this is a benefit of the 5 digit broker)
Like this my friend? Move the SL to BE minus 0.01 pips
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Dangdut is a music of my country
  • #655
  • Dec 7, 2012 5:05am Dec 7, 2012 5:05am
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
Yes!

Quoting NuNix
Like this my friend? Move the SL to BE minus 0.01 pips
  • #656
  • Dec 7, 2012 5:15am Dec 7, 2012 5:15am
Quoting NuNix
Like this my friend? Move the SL to BE minus 0.01 pips
Already close it for +10. Looks like the sideway movement till NFP
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Dangdut is a music of my country
  • #657
  • Dec 7, 2012 5:19am Dec 7, 2012 5:19am
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
You guys are braver than I am trading today. I haven't really even looked at charts today! Although I did meet my quota for today on yesterday's move!

Quoting NuNix
Already close it for +10. Looks like the sideway movement till NFP
  • #658
  • Dec 7, 2012 5:45am Dec 7, 2012 5:45am
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
Nunix - you netted $961 on that demo account? Was that all from using this style of trading?

Quoting NuNix
Already close it for +10. Looks like the sideway movement till NFP
  • #659
  • Dec 7, 2012 5:58am Dec 7, 2012 5:58am
Quoting 9er
Nunix - you netted $961 on that demo account? Was that all from using this style of trading?
Yes it was from your trading style. I start it from 3 December 2012. I also use it as my signal for my live trading, my live broker is 4 digit but the profit i got is same with the demo. So start from 03-Dec-12 I open 2 chart that is ibfx and the other one.
Dangdut is a music of my country
  • #660
  • Dec 7, 2012 6:53am Dec 7, 2012 6:53am
Draghi's speech !
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Dangdut is a music of my country
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