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  • #10,341
  • Feb 19, 2013 4:56am Feb 19, 2013 4:56am
took short eurjpy shortly after london open with 40 pip SL. got stopped out as ZEW came out. if my stop was only about 2 pips larger, it would survive. got in short two positions at about the same price i got stopped out because i had a strong conviction that prices are going lower. my stop on each of these positions only about 10 pips each (my irrational logic was that normally i would risk 50 pips on a position but got stopped out at 40 ). closed one of them with profit of about 42 pips recovering my loss and letting the second one ride with a stop loss at break even. currently up about 50 pips on that one and expect another 60-70 pips on a top. reason for that is the price rejecting ema 200 and also daily pinbar candle. i didnt expect such a positive ZEW numbers and surprised that it retraced so much.
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  • #10,342
  • Feb 19, 2013 5:01am Feb 19, 2013 5:01am
tonny47,

Am short EUR/JPY. Will give some more details later on. Am busy at work. Got SS.

Cheers,
M.
Remember I'm a newbie!
  • #10,343
  • Feb 19, 2013 5:06am Feb 19, 2013 5:06am
nice, will see how it works out. post later your entry point please when you have time. whats SS?

Quoting mierzyk
tonny47,

Am short EUR/JPY. Will give some more details later on. Am busy at work. Got SS.

Cheers,
M.
  • #10,344
  • Feb 19, 2013 5:13am Feb 19, 2013 5:13am
although i still think its going lower, i have decided to change my approach slightly although it could cost me few pips. took 40 pips on my second position and will get in short only on the break of the current low to be on slightly safer side
  • #10,345
  • Feb 19, 2013 8:45am Feb 19, 2013 8:45am
A little something from Danske Bank. February FX analysis. Visit the site for other news. It is free.

Danske Markets Research
Attached File(s)
File Type: pdf FX_Forecast_Update_February2013.pdf   1.5 MB | 582 downloads
Cut your Losers short and let your Winners run.
  • #10,346
  • Feb 19, 2013 8:51am Feb 19, 2013 8:51am
Quoting Empowers
[color=DarkRed]Hi, I'm new to this forum, and new to this method. Still relatively new to Forex and have finished studying the basics after a couple of months. Now looking for a "major discipline" to study in. This looks to be up my alley.

A few questions if an experienced member could so kindly take the time to help:

1)Major difference between S3 and TMS? None. Same thing with "minor" changes.
2)Is one mechanically better than the other and more suited for beginners? No.
3)Is the system still the same as stated on the 1st post, or has there been a major change implemented. Still the same.
.
Cut your Losers short and let your Winners run.
  • #10,347
  • Feb 19, 2013 9:48am Feb 19, 2013 9:48am
otiose,

I'll answer part of your questions tonight. I'm a nab, but I already know a bit more than you do



Today's trade on EUR/JPY. First one on real account (after a long break) small loss:

http://imageshack.us/a/img7/839/ej20130219.jpg

LO candle is third last.

I wanted to take advantage of the pullback candle and bounce off red line. PA created new high and reversed after the news (firstly it spiked up). Rejection of EMA. Went short after breaking previous candle low (11:45 GMT). SL above RN and EMA200, ~50 pips.. Thought the market would drop more, eventually it didn't. Might have waited untill the low of the day was broken. That would have saved me these 20 pips. Exited at 13:45. Bar changed colour. That moved prevented me from losing full position.

http://imageshack.us/a/img809/3634/ej20130219v2.jpg






Comment please!
Thanks,
M.
Remember I'm a newbie!
  • #10,348
  • Feb 19, 2013 11:41am Feb 19, 2013 11:41am
Quoting otiose
First trade of the Method. Both losses. Learn to fight another day I guess.

1. EURUSD 1H @ London Open

Took a LONG trade at London Open
TDI crossed
based on what I thought that PA broke the Asian Session towards the bottom
But after into the trade, I realized it only broke downside of the body of the Asian Session not the low of the session. At the same time, TDI reversed. So i closed the trade at -12pips.

otiose,

Consider me as a novice, but I can point out two (obviously not all) issues:

1. TDI is moving tight around 50. Market was consolidating (maybe prior to news at 11:00 GMT). This should made you extra cautious. (check post 10287, point III)
2. London opening candle is quite often a fakeout candle. (check post 10287, point I)


What I did at the beginning was studying all posts of this thread. You will find answers of 70% of all your questions here. Go to post 666. I think it was Dee50 that provided some useful study material there. But you should definitely read all the posts. If you study hard and long enough (not that long :]) and you won't regret it. There are many understanding traders here that will help you reaching your goals.


Besides, focus on EUR/USD and EUR/JPY at the beginning.

Cheers,
M.
Remember I'm a newbie!
  • #10,349
  • Feb 19, 2013 11:49am Feb 19, 2013 11:49am
Quoting thrax
...I am unsure that perhaps this move can be identified also as an ABCD now in the phase of compleeting the CD leg?..
And yes it has just completed the CD leg! But I was just not brave enough to set my final TP to this level...

take care,
thrax
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  • #10,350
  • Feb 19, 2013 1:01pm Feb 19, 2013 1:01pm
Some bonehead trades I've taken Monday and today.
On Monday a famous headfake short, followed by a stupid reversal long taken right at the top of the wick.
Today during London I shorted but soon after I've killed it, realizing I've been trading chop for two days: TDI has been firmly hugging 50.

In retrospect going long at US open could have gone 30 pips..
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Financial independence is what I live for
  • #10,351
  • Feb 19, 2013 3:38pm Feb 19, 2013 3:38pm
someone operates on chart 15m
  • #10,352
  • Feb 19, 2013 5:19pm Feb 19, 2013 5:19pm
Quoting dee50
Traders Trick Entry. TTE. For the 123 activists on this thread. Here is a little trick that can make a big difference. You have seen me take entries earlier than the break of the 2 point, this is why.

Enjoy
Thanks! I had been googling for exactly this material.
  • #10,353
  • Feb 19, 2013 7:31pm Feb 19, 2013 7:31pm
Hi All, Dee, Phx62, ...

Please help me, how can we ignore two trade below??
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  • #10,354
  • Feb 19, 2013 11:54pm Feb 19, 2013 11:54pm
I took this trade yesterday morning, notes on the chart for entry and exit
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I Have Learned to Take Some Losses to Make Profits
  • #10,355
  • Feb 20, 2013 12:09am Feb 20, 2013 12:09am
Quoting dee50
1)Major difference between S3 and TMS? None. Same thing with "minor" changes.
2)Is one mechanically better than the other and more suited for beginners? No.
3)Is the system still the same as stated on the 1st post, or has there been a major change implemented. Still the same.
Correct me if I'm wrong, but it seems that TMS uses TDI for signals and PA, Stoch etc for confimation. Whereas S3 uses PA for signals and TDI for confirmation.

Which would make TMS a mechanically simpler system, while this is a more refined version.
  • #10,356
  • Feb 20, 2013 12:46am Feb 20, 2013 12:46am
Quoting Empowers
Correct me if I'm wrong, but it seems that TMS uses TDI for signals and PA, Stoch etc for confimation. Whereas S3 uses PA for signals and TDI for confirmation.

Which would make TMS a mechanically simpler system, while this is a more refined version.
I'm new in Forex, but what I know is the power to be a successful trader is understanding price action, this is what is needed in trading and the right mind set
I Have Learned to Take Some Losses to Make Profits
  • #10,357
  • Feb 20, 2013 1:26am Feb 20, 2013 1:26am
thanks for your reply to my post good day
bandan
  • #10,358
  • Feb 20, 2013 3:07am Feb 20, 2013 3:07am
It seems that another boring market day is beginning... , however, every time I think like that Phx62 posts some outstanding H1 trades
Remember I'm a newbie!
  • #10,359
  • Feb 20, 2013 3:07am Feb 20, 2013 3:07am
My first trading post. Have been studying the X-Men system ( Not finish the whole thread yet... too many pages).

Was shorting EU. after the opening London. Take my 1pip and runaway.
After entry, the prices been going sideways. Here's the chart.

Was wondering is my entry is correct. Any advise.
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Banker please return my pipins.
  • #10,360
  • Feb 20, 2013 3:22am Feb 20, 2013 3:22am
Quoting Babyboy
My first trading post. Have been studying the X-Men system ( Not finish the whole thread yet... too many pages).

Was shorting EU. after the opening London. Take my 1pip and runaway.
After entry, the prices been going sideways. Here's the chart.

Was wondering is my entry is correct. Any advise.
Well I saw the candle too but stayed out as there was a big move up with almost no retraces, PA above 200 EMA with only ~15 pips to the EMA line, ~ 10 pips to RN and a Resistance lvl in between. Thats what my analysis was. But I am not mastering the system yet.
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