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Pure Price Action Trading

  • #141
  • Jan 4, 2013 7:20am Jan 4, 2013 7:20am
Lets see if NFP can bring prices to our entry levels
  • #142
  • Jan 4, 2013 8:21am Jan 4, 2013 8:21am
Getting late on Friday, dont think we will see anything setting up.
1st week of Jan done...results on http://joetradingplace.wordpress.com...eek-1-results/
  • #143
  • Jan 5, 2013 3:33pm Jan 5, 2013 3:33pm
some good analysis there...looks like someone knows what they are talking about. Thanks for sharing, keep up the good work.
I just have one question, what is your risk to reward ratio and how do you manage your trades?
  • #144
  • Jan 7, 2013 3:24am Jan 7, 2013 3:24am
Quoting Fxtrader
some good analysis there...looks like someone knows what they are talking about. Thanks for sharing, keep up the good work.
I just have one question, what is your risk to reward ratio and how do you manage your trades?
Thanks for the comment.

Our risk to reward is 1:3, that is if the trade reaches our final target. Everytime the market moves in our favour, we reduce our risk...so if the 1st target is reached, we move SL for the remaining 2 positions to BE...and when the 2nd target is reached, we move the final position to where our 1st trg was. Trading is about limiting your risks and letting your profits run...thats what we do, coz when the trade is not working for us we cut it quickly and when the trade is moving in our direction we hold it for weeks/months. So one winning trade that reaches all our targets can easily cover for 5-6 small losses....hope this makes sense

thanks for asking, it nice to be intereactive and have people ask questions.
  • #145
  • Jan 7, 2013 3:32am Jan 7, 2013 3:32am
All the charts posted last week, the setups are still valid...we are in waiting mode now.

Swissy retraced to 9250s as we expected, but we didnt add because is was outside our trading hours. For people who took the trade, we advise to move SL to BE...and take partial profits

Same as eurjpy, it has bounced off in the zone we expected...that could have been another short position, could have easily bagged 80+ pips
  • #146
  • Jan 7, 2013 6:15am Jan 7, 2013 6:15am
Gbpusd analysis

Price is moving back towards the blue pivot, if it fails to follow through to the downside, we will wait for price to push higher then buy a retest of the pivot.

Attached Image (click to enlarge)
Click to Enlarge Name: cable 07-01.JPG Size: 81 KB
  • #147
  • Jan 7, 2013 6:42am Jan 7, 2013 6:42am
more on our trading signals

http://joetradingplace.wordpress.com/
  • #148
  • Jan 7, 2013 8:50am Jan 7, 2013 8:50am
A lot of traders are worried about wide stop loss on a trade, but you are a swing trader, you more likely to have a wide SL to give the market room to breath. I wouldn’t look at SL in pips, but as a percent of my account. So if you are risking 1 percent per trade, it doesnt matter if you have a 100 pip SL or a 20 pip SL…its still 1 percent, you just have to adjust your trading size accordingly.

Lets say I have a $10,000 account, 1 percent of my account is $100. So if a SL is 100 pips, i can take this trade with 1 mini lot. But if my SL is 20 pips away, i could take the same trade with 5 mini lots…but at the end of the day, the risk per trade is the same regardless of how many pips your SL is away from entry point. So dont let a wide SL put you off, you just have to adjust your trading size…and it avoids you to be chopped out of a good trade.
  • #149
  • Jan 8, 2013 3:54am Jan 8, 2013 3:54am
Some pairs are getting closer to trigger some trades..watching them closely now....but still short eurusd and long eurjpy and swissy
  • #150
  • Jan 8, 2013 3:56am Jan 8, 2013 3:56am
Quoting Tradingplace
Gbpusd analysis

Price is moving back towards the blue pivot, if it fails to follow through to the downside, we will wait for price to push higher then buy a retest of the pivot.

Attachment
Cable is doing what we expected...
  • #151
  • Jan 9, 2013 3:47am Jan 9, 2013 3:47am
Short euraud triggered last night, 1st target 2380s
  • #152
  • Jan 9, 2013 3:51am Jan 9, 2013 3:51am
Pending orders on eurusd
  • #153
  • Jan 10, 2013 1:58am Jan 10, 2013 1:58am
Quoting Tradingplace
Short euraud triggered last night, 1st target 2380s
1st target reached on short euraud at +70 pips...SL moved to BE. Aslo 1st trg reached on long audchf at +60 pips....total for this week +130 pips. Short eurusd, still waiting for 1st target, we added on this one, because we were still short from the 2nd. We still have long eurjpy from 111.60 and long swissy from 0.9105...pending locked profits (+240 pips)
Attached Image (click to enlarge)
Click to Enlarge Name: euraud.JPG Size: 85 KB


Attached Image (click to enlarge)
Click to Enlarge Name: audchf.JPG Size: 84 KB
  • #154
  • Jan 10, 2013 3:32am Jan 10, 2013 3:32am
Eurusd before

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Click to Enlarge Name: eurusd 2.JPG Size: 95 KB


Eurusd after

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd after.JPG Size: 95 KB
  • #155
  • Jan 10, 2013 3:39am Jan 10, 2013 3:39am
Quoting Tradingplace
Audchf Analysis

We have been bearish this pair since mid december and we took a couple of short trades, we turned bullish when the pair broke the 9520s Support Zone, but failed to follow through...same as eurnzd, we didnt find a good setup to go long, so we are now waiting for a retracement to join the party. Price has sliced through the 2 pivots (blue lines) and we thinks its more likely to retest these levels if she has to continue higher. We will be looking for longs around the green circle.

Attachment
The pair retraced as we expected, but it didnt go as far as the pivots...but we managed to catch the move...we have taken partial profits and letting the rest run to take advantage of the up trend. The pair is more likely to test the pivot high...we dont care what happens because we have a free trade.

Audchf before

Attachment

Audchf after

Attached Image (click to enlarge)
Click to Enlarge Name: audchf after.JPG Size: 96 KB
  • #156
  • Jan 10, 2013 9:21am Jan 10, 2013 9:21am
Eurusd from last week stopped out at +70 pips and usdchf long from last week stopped out at +60...the new eurusd from this week has been stopped out for a full loss -300pips on 3 orders...1st target reached on euraud and audchf at +70 and +60 respectively. Open trade: Long eurjpy from 111.60...locked in profits +110.


Weeks total = -40 pips
  • #157
  • Jan 11, 2013 1:46am Jan 11, 2013 1:46am
Quoting Tradingplace
Eurusd from last week stopped out at +70 pips and usdchf long from last week stopped out at +60...the new eurusd from this week has been stopped out for a full loss -300pips on 3 orders...1st target reached on euraud and audchf at +70 and +60 respectively. Open trade: Long eurjpy from 111.60...locked in profits +110.


Weeks total = -40 pips
Eurjpy long finally reached our final target at +660pips...shows how patience and discipline to wait for targets pays off. If you let profits run, everything falls in place, losers can easily be covered by just this one order......the eurusd loss of -300pips was for 3 orders, but this eurjpy was just 1 order. Total pippage for the whole eurjpy trade was...1st trarget at +110, 2nd target at +220 and final target at +660...total pippage was 990pips

Weeks total = +620 pips
  • #158
  • Jan 11, 2013 3:20am Jan 11, 2013 3:20am
We might get a setup on audchf, watching it closesly now...but i dont think we will get any more setups since its a Friday.
  • #159
  • Jan 11, 2013 1:08pm Jan 11, 2013 1:08pm
Another good week for our subcsribers, back again next week to Wash, Rinse and Repeat. Hope everyone have a nice weekend...Try to stay away from charts, enjoy your time with the family, there are the most important people in your life.

Weeks total = +620 pips
  • #160
  • Jan 12, 2013 7:26am Jan 12, 2013 7:26am
Quoting Tradingplace
Another good week for our subcsribers, back again next week to Wash, Rinse and Repeat. Hope everyone have a nice weekend...Try to stay away from charts, enjoy your time with the family, there are the most important people in your life.

Weeks total = +620 pips
Quoting Fxtrader
some good analysis there...looks like someone knows what they are talking about. Thanks for sharing, keep up the good work.
I just have one question, what is your risk to reward ratio and how do you manage your trades?
You have lost all credibility by creating multiple usernames and posting on your own thread.
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