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Fail Better

  • #5,161
  • Feb 25, 2013 9:55am Feb 25, 2013 9:55am
Quoting the_wizard
Hopefully you guys all got the USD/JPY gap up/SFP spectacular?
Hi Tom,

I'm in this trade. I entered after the 1st 1H bar closed as a confirmation of SFP. (since it's Oanda, the 1st bar started earlier, so no gaps visible)

My target is the gap fill (with a small buffer).

I tightened SL to most recent swing high after price made it to the FTA.

Would appreciate if you would comment whether my trade made sense to you.

Oanda chart:
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY.jpg Size: 312 KB


FxPro chart:
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-02-25_23-54.jpg Size: 158 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #5,162
  • Feb 25, 2013 10:01am Feb 25, 2013 10:01am
Such a nice feeling to be on the ride (right ) side, time after time, in this crazy markets today.


Thanks Tom
  • #5,163
  • Feb 25, 2013 10:09am Feb 25, 2013 10:09am
Any body entered this RR on USDCHF? 2x fib ret confluences as a bonus. BAM! Crazy ride!! (I did not )

Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF.jpg Size: 205 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #5,164
  • Feb 25, 2013 10:51am Feb 25, 2013 10:51am
Quoting keroro0o0o
Any body entered this RR on USDCHF? 2x fib ret confluences as a bonus. BAM! Crazy ride!! (I did not )

Attachment
No, but i did on:
1- usdjpy sfp + gap
2- fiber RR
3- nasdaq RR
4- eurostoxx RR
5- eurcad h1 sfp

It was one pretty busy monday!

oh and the fiber gap play
  • #5,165
  • Feb 25, 2013 10:54am Feb 25, 2013 10:54am
Quoting keroro0o0o
Any body entered this RR on USDCHF? 2x fib ret confluences as a bonus. BAM! Crazy ride!! (I did not )

Attachment
I did for +24 Pips
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdchf022530mb.gif Size: 18 KB
Click to Enlarge Name: usdchf022530mc.gif Size: 16 KB
The purpose of knowledge is action, not knowledge
  • #5,166
  • Feb 25, 2013 10:58am Feb 25, 2013 10:58am
And i was going to buy the bund here, if i wasn't in too many trades already. Didn't understand why Tom tweeted not to buy this one, but i see pretty much what he teach.
Attached Image (click to enlarge)
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  • #5,167
  • Feb 25, 2013 11:01am Feb 25, 2013 11:01am
Quoting the_wizard
Hopefully you guys all got the USD/JPY gap up/SFP spectacular?
wow, missed that one. there was also the Soybean SFP + BEOB
  • #5,168
  • Feb 25, 2013 12:45pm Feb 25, 2013 12:45pm
Quoting Rust
No, but i did on:
1- usdjpy sfp + gap
2- fiber RR
3- nasdaq RR
4- eurostoxx RR
5- eurcad h1 sfp

It was one pretty busy monday!

oh and the fiber gap play
Caught #5 but bailed out to early...had to step away for the day job and after that squeeze I took a small profit and ran. Fun day for a Monday.
Keep the charts coming everyone. Best way to learn is to Fail Better....
  • #5,169
  • Feb 25, 2013 5:30pm Feb 25, 2013 5:30pm
Quoting Rust
And i was going to buy the bund here, if i wasn't in too many trades already. Didn't understand why Tom tweeted not to buy this one, but i see pretty much what he teach.
Attachment
AWESOME!!
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #5,170
  • Feb 26, 2013 1:17am Feb 26, 2013 1:17am
Just missed a super perfect entry on USDJPY because I didn't consider spreads.

Put my sell limit @ 92.76, and missed it by pipettes.....

Attached Image
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #5,171
  • Edited 1:08pm Feb 26, 2013 10:13am | Edited 1:08pm
Just wanted to share my trade from this day with you on the SP500.
Direction from the D1 (bearish outside bar). Entry on the 4H based on break and retest of previous lows.

Edit: Closed out for a little profit after this move back up. The previous lows seem to hold.
Attached Image (click to enlarge)
Click to Enlarge Name: EPH3.png Size: 57 KB
Price is what you pay. Value is what you get.
  • #5,172
  • Feb 28, 2013 4:38am Feb 28, 2013 4:38am
is noone having an eye on that EU level around 1.316 area?
Attached Image (click to enlarge)
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Price is what you pay. Value is what you get.
  • #5,173
  • Feb 28, 2013 6:18am Feb 28, 2013 6:18am
Quoting Helius
is noone having an eye on that EU level around 1.316 area?
Attachment
Yes, I was watching that for a short off 1.3158 support lows. Beautiful trade although was only looking for it to make a quick move back to 1.3122 (as tweeted). Didn't see it going much further.
  • #5,174
  • Feb 28, 2013 10:11am Feb 28, 2013 10:11am
EU RRRRRRRRRRRRR trending.

Its trendception, a rr within an rr within an rr!

Happy Trading!
Attached Image (click to enlarge)
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  • #5,175
  • Feb 28, 2013 11:18am Feb 28, 2013 11:18am
usd/cad H1 SFP crossbar anyone?
  • #5,176
  • Feb 28, 2013 1:26pm Feb 28, 2013 1:26pm
Hi All

Took this trade long at 1.2195. Stop initially was at 1.2180 (1st arrow).
Got squeezed quite a bit but then price closed above the level so was looking good. Moved stop to 1.2184 (below the pin)
After a number of hourly bars the price came back down to 1.2201 (3rd arrow) and moved up again.
I then moved the stop to 1.2197 below the lowest hourly bar (2nd arrow). This happened to be the exact price I entered at 1.2195 plus 2 pips spread but seemed the only place for my stop to be moved to.

As you can see the next bar took me out and then moved swiftly up.

Would appreciate any comments around the management of this trade. Did I move the stop too early?



Attached Image (click to enlarge)
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  • #5,177
  • Feb 28, 2013 2:02pm Feb 28, 2013 2:02pm
Hi, what was your thinking process when entering the trade in the first place ?
  • #5,178
  • Feb 28, 2013 2:45pm Feb 28, 2013 2:45pm
Quoting FunkyJee
Hi, what was your thinking process when entering the trade in the first place ?
I wanted to give it room while it attempted to move through the consolidation above as I expected it to come off there.
The plan was to get the stop up as soon as the market gave me a place to move it to. Obviously leaving it below that pin would have been the best but been taken out there would have been about -0.75 R which I didn't want knowing that it could have trouble at the consolidation and reverse.

I was aiming for 1.2255. I think if it hadn't squeezed so much I would probably have left the stop below the pin which would have been higher up.

Just trying to work out if it was wise under the circumstances to be a bit more cautious because of the risk of it bouncing hard off the FTA.
  • #5,179
  • Mar 1, 2013 4:14am Mar 1, 2013 4:14am
Quoting ljr
I wanted to give it room while it attempted to move through the consolidation above as I expected it to come off there.
The plan was to get the stop up as soon as the market gave me a place to move it to. Obviously leaving it below that pin would have been the best but been taken out there would have been about -0.75 R which I didn't want knowing that it could have trouble at the consolidation and reverse.

I was aiming for 1.2255. I think if it hadn't squeezed so much I would probably have left the stop below the pin which would have been higher...
Hi, looks to me like you identified a good level but then scared yourself out of it, you've done exactly what the market wanted you to do and that's give it your stop so price can move higher. These RR levels get tested twice like this very very often, be careful with moving your stop to soon, reduce your position size if you're easily shaken out because that's really not a hard squeeze.

Trading the H1 you have to have patients, a lot of patients.

The FTA for me would have been 2253, all those swing lows, btw good place to look for a quick short maybe.
  • #5,180
  • Mar 1, 2013 4:23am Mar 1, 2013 4:23am
Quoting Quidsey
Hi, looks to me like you identified a good level but then scared yourself out of it, you've done exactly what the market wanted you to do and that's give it your stop so price can move higher. These RR levels get tested twice like this very very often, be careful with moving your stop to soon, reduce your position size if you're easily shaken out because that's really not a hard squeeze.

Trading the H1 you have to have patients, a lot of patients.

The FTA for me would have been 2253, all those swing lows, btw good place to look for a quick...
Thanks Quidsey this is really useful feedback.
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