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  • #3,721
  • Feb 20, 2013 4:05am Feb 20, 2013 4:05am
Morning. After the easy day yesterday I suppose it was to be expected today would be different. Well true to form it was.
Have posted charts below, stayed out of some of the sideways stuff but not all of it. Closed last trade early when it got me back into profit and finished for the day.

Well done Anthm, good result in this terrain. Might have to ask you to lend me my train fare home!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ej bago feb20 congestion.gif Size: 40 KB
Click to Enlarge Name: ej bago feb20.gif Size: 67 KB
  • #3,722
  • Feb 20, 2013 5:14am Feb 20, 2013 5:14am
Thanks Strada for posting charts,

I used low at 7.19 and high at 7.34 for Fib placement, I figured the 7.19 low was the bottom of the retracement of the previous rally. bollies had done their thing, outer to outer then middle cross.

You correctly use 7.34 high and 7.53 low for your Fib placement

As you are aware a difference in Fib placement chages the whole game plan, I see it as work in progress,

Cheers
anthm
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
  • #3,723
  • Feb 20, 2013 6:54am Feb 20, 2013 6:54am
Hi Anthm, your fibs were on the button and quite correct. Yours related to the move up before 7am. I had these too and then changed them to the lower low at 7.53. I must be thinking too much about the other Bollinger, all this talk about Bolli's, until recently Bolli only meant one thing to me and it didn't have anything to do with charts!
It's work in progress alright.
cheers, strada.

Quoting anthm
Thanks Strada for posting charts,

I used low at 7.19 and high at 7.34 for Fib placement, I figured the 7.19 low was the bottom of the retracement of the previous rally. bollies had done their thing, outer to outer then middle cross.

You correctly use 7.34 high and 7.53 low for your Fib placement

As you are aware a difference in Fib placement chages the whole game plan, I see it as work in progress,

Cheers
anthm
  • #3,724
  • Feb 21, 2013 1:38am Feb 21, 2013 1:38am
Morning Strada I am finished for the day I need to work tonight,

Up +20 but should have been +32, I missed +7 in T1 due scarey demonds and for the first time I could not get orders to fill with CS which cost me at least +5

So in view of work tonight basically happy,

Interested to hear if you had trouble with order fills.

Looking forward to see and hear your outcome.

Cheers anthm
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: wed 21st feb two.gif Size: 34 KB
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
  • #3,725
  • Feb 21, 2013 4:15am Feb 21, 2013 4:15am
Morning, little bit tricky this morning, may have been a bit slow to see the congestion (or perhaps relying too much on the bollis which didn't catch it today). Planned to finish on the 8.28 news as I had 9am appointment. Fortunately the trade prior to the news brought me back into profit for the day and stopped then. Not the best result for the day but still OK for the week.
Strada.

Anthm, just seen your post, good result again today, will look at your charts later, got quite a busy morning.
Attached Image (click to enlarge)
Click to Enlarge Name: ej bago feb21.gif Size: 55 KB
  • #3,726
  • Feb 21, 2013 4:41am Feb 21, 2013 4:41am
Quoting strada
Morning, little bit tricky this morning, may have been a bit slow to see the congestion (or perhaps relying too much on the bollis which didn't catch it today). Planned to finish on the 8.28 news as I had 9am appointment. Fortunately the trade prior to the news brought me back into profit for the day and stopped then. Not the best result for the day but still OK for the week.
Strada.

Anthm, just seen your post, good result again today, will look at your charts later, got quite a busy morning.
Yes a lttle tricky as price not quite touching the outer bands in what looking back after the event was clear congestion. another example of work in progress.
Cheers
Anthm
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
  • #3,727
  • Feb 21, 2013 5:43am Feb 21, 2013 5:43am
Hi Anthm, yes we have to be careful around those big numbers, but I have to tell you it's normally the most interesting trading time, really focuses the mind and tests your trading instincts. Enjoy that challenge.

Your Trade 1 earlier???? How was that again? I'm still trying to work it out, so help me out here when you get the chance. Was your entry on the line marked T1? Some great trades after 10am if anyone was around then.

strada.
  • #3,728
  • Feb 21, 2013 7:28am Feb 21, 2013 7:28am
Strada and Anthm really enjoying your conversations. Please allow me to get involved. This is a trade I should've taken. It's OK though, been having positive days since the start of the week. Will upload others when I get round to it. All trades are on the 5min TF, using original Bago method, round numbers and HTF trend.

Regards

Saf
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-02-21 13_13_08-14411_ GKFX Spread Trading - [EURJPYSB,M5].png Size: 39 KB
  • #3,729
  • Feb 21, 2013 7:53am Feb 21, 2013 7:53am
Another trade from yesterday. Got the entry almost spot on. Waited for a retrace and pulled the trigger. Initial SL of 20 pips but moved to BE+1 after 15 pips. Will put up some losing trades from yesterday. Had 3 losers yesterday, but learning to cut them as quickly as possible. So 4 trades yesterday, 3 losers 1 winner and still ended up +pips for the day. If you have any doubts about a trade, cut it short, there are many other trades that will come along. I'm slowly learning to grasp this. We rely on that 1 trade and hold onto it, hoping and praying.

Regards

Saf
Attached Image (click to enlarge)
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  • #3,730
  • Feb 21, 2013 7:59am Feb 21, 2013 7:59am
Good afternoon Safsyed, please do get involved, always good to see how others are utilising the method.
Must have been frustrating watching that great move this morning and difficult to get into it because of all the news interspersed among it. PMI days are not best trading days.
Do the HA candles have any input to your trading decisions? Be interested to know how you use them on bago.
regards, strada.


Quoting safsyed
Strada and Anthm really enjoying your conversations. Please allow me to get involved. This is a trade I should've taken. It's OK though, been having positive days since the start of the week. Will upload others when I get round to it. All trades are on the 5min TF, using original Bago method, round numbers and HTF trend.

Regards

Saf
  • #3,731
  • Feb 21, 2013 8:29am Feb 21, 2013 8:29am
Afternoon Strada, I believe i'm slowly finding my edge. Even though I missed that move I'm not too bothered because it was a positive day . I've never been able to catch those big moves before anyway just wanted to show how I trade. HA is something I've always used, it just show the trend a little better on HTF. So I quickly glance at the 30min, see the general direction, if its trending or ranging, which currencies look best. It's mainly thanks to your invaluable charts that I'm doing so well and for that I can't thank you enough.
  • #3,732
  • Feb 21, 2013 10:45am Feb 21, 2013 10:45am
Quoting strada
Hi Anthm, yes we have to be careful around those big numbers, but I have to tell you it's normally the most interesting trading time, really focuses the mind and tests your trading instincts. Enjoy that challenge.

Your Trade 1 earlier???? How was that again? I'm still trying to work it out, so help me out here when you get the chance. Was your entry on the line marked T1? Some great trades after 10am if anyone was around then.

strada.
T1, ok sorry, but i have talked myself into this stratergie whereby If it makes a move whilst congestion is on and breaches the 123.6 or -23.6 then plus 1 pip confirmation in same direction, we could treat it like a continuation trade ie 1 TP or 1 and 2TP depending on the size of the move before it breaches.

I touched on it on poast number 3720,

Just a stupid theory I came up with, it kind of solves the problem of having to sit on hands and watch a marvelous move after a breach of the fibs targets without waiting for bago set up.
Whats your thoughts Strada?

Cheers anthm
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
  • #3,733
  • Feb 21, 2013 10:48am Feb 21, 2013 10:48am
Quoting safsyed
Strada and Anthm really enjoying your conversations. Please allow me to get involved. This is a trade I should've taken. It's OK though, been having positive days since the start of the week. Will upload others when I get round to it. All trades are on the 5min TF, using original Bago method, round numbers and HTF trend.

Regards

Saf
Morning Saf and welcome

Is it only the 5minute TF you trade?
cheers anthm
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
  • #3,734
  • Feb 21, 2013 2:39pm Feb 21, 2013 2:39pm
Hey Anthm, yeah I'm only using the 5min TF at the moment. Obviously use the HTF to see the general direction. The 5min allows for a smaller SL and also if I see a move I'm in and I don't feel too good about it, I let it go and move onto the next trade. With intraday trading we shouldn't really hold onto a trade if it doesn't go our way when we expect it. It's a hard lesson learnt in the past. There are so many opportunities during the day, why hold onto a single position that's going wrong. I'm slowly coming along to them terms and understand only now when pros say cut a loser. 4 days of trading this system doesn't mean a thing yet, but I love the simplicity of it. 20 pips a day is fine by me, 20 pips and compounding makes a huge difference on someones account. Anyway I'm chatting poop, I'm just a newbie so don't know what i'm talking about so don't take any notice of it. Strada and you are the main guys here, i'm just making up the numbers.

Saf
  • #3,735
  • Feb 21, 2013 5:50pm Feb 21, 2013 5:50pm
As promised, a losing trade from yesterday. This was taken on the GBPAUD. The entry was good, and in hindsight if I held onto it the trade was a 100 pip winner. SL was set at 20. The spread was a factor in this trade, 5.2 pips . I cut this trade when the 2 emas crossed back over again. There was also a high impact news coming so wasn't sure which way it would have gone. Walked away with a 17.5 pip loss. But still ended the day in profit . Looking forward to trading in the morning. Hopefully it'll be a week where everyday has been profitable. Wish me green pips.

Saf
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-02-21 23_34_32-14411_ GKFX Spread Trading - [GBPAUDSB,M5].png Size: 26 KB
  • #3,736
  • Feb 21, 2013 9:46pm Feb 21, 2013 9:46pm
Quoting anthm
T1, ok sorry, but i have talked myself into this stratergie whereby If it makes a move whilst congestion is on and breaches the 123.6 or -23.6 then plus 1 pip confirmation in same direction, we could treat it like a continuation trade ie 1 TP or 1 and 2TP depending on the size of the move before it breaches.

I touched on it on poast number 3720,

Just a stupid theory I came up with, it kind of solves the problem of having to sit on hands and watch a marvelous move after a breach of the fibs targets without waiting for bago set up.
Whats your...
Hi Strada
Here is an exmple of what I mean, the fibs are drawn in accordance with Bolli set up after a downtrend. Bago sets up but we dont have price hitting the 123.6 target so we cant get in. Price hits the 123.6 wait for one pip confirmation then in. In this example we have already missed say 7 to ten pips of the move so enter with say one or two TP,s
Just thinking out load.
Cheers
anthm
Attached Image(s) (click to enlarge)
Click to Enlarge Name: continuation example.gif Size: 27 KB
Click to Enlarge Name: continuation example2.gif Size: 34 KB
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
  • #3,737
  • Feb 22, 2013 3:50am Feb 22, 2013 3:50am
Morning Anthm, my thoughts on your idea on 123.6/-23.6 break! I'm looking at my hands and watching the blood pour out of them from trying too many times to catch the falling knife. In some of your examples the move was quite well established and you were trying to join the party quite late. I'm not saying don't do it, but keep plenty of bandages handy, you'll need them.

This was covered to some degree with BV, check the link below and go to post 309 and read through a couple of pages, you'll get the drift. http://www.forexfactory.com/showthre...405552&page=21

As a matter of interest in your example above, I'm not sure that I saw any congestion. Price came down then went straight back up again so no reason not to take the long bago signal, good trade and no blood.
So I suggest doing some in-depth testing on the fib breaks, it's uncanny how many times price breaks and immediately retreats. And also bear in mind what I said in one of the BV posts, if you enter a trade in that area you will very often be out in the open, totally exposed, no hiding place and no cheap SL's, so if you get caught there will be blood!!

Chart for todays' trades below, perseverance paid off but considered giving up a couple of times.
I'm away for a weeks break so won't be around next week, hope the markets are kind to you.
strada.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ej bago feb22 a.gif Size: 56 KB
Click to Enlarge Name: ej bago feb22 b.gif Size: 38 KB
  • #3,738
  • Feb 22, 2013 5:39pm Feb 22, 2013 5:39pm
Didn't do any trading today. Been go karting . Good to get away from trading and enjoying life now and again. How did your trading go today Anthm? Believe it was a tricky day to trade.
  • #3,739
  • Feb 22, 2013 6:53pm Feb 22, 2013 6:53pm
Quoting safsyed
Didn't do any trading today. Been go karting . Good to get away from trading and enjoying life now and again. How did your trading go today Anthm? Believe it was a tricky day to trade.
Hi Saf, I never traded Fridays London session, As I live in Asia I had a couple of trades during the Friday Asian session. I took +21, a very very small gain for me for this week which i might add is extreamly unusual for me. Strada is the master here I am still somewhat of an apprentice.

If all goes to plan I will trade london session wed, thurs, fri next week.

Enjoy your weekend. I take it your time zone is UK?

Cheers Anthm
When you're in the land of HOPE, you're done, get out of there, WALK AWAY
  • #3,740
  • Feb 22, 2013 7:10pm Feb 22, 2013 7:10pm
Yep I'm from the UK. Honestly it does make life alot easier. Where abouts are you from in Asia? Anthm my brother no one lost money whilst gaining pips . If I got 20 pips today I'd be over the moon. I'm not only using this system though, however this system makes trading a little more stress free. Do yourself a favour and put on a round number indicator. I find it a world of good. I'm probably going to start trading full time soon. Not working at the moment so that's helping me in a big way. Next week I'm going to start throwing up all my trades, good and bad ones. Hopefully Strada can help us both find our edge.

Have a great weekend

Saf
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