Ramblings of a Forex Junkie | Page 57 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Forex Trading: Incorporating Price Behavior into a Forex Trading System 4 replies

Forex Training: What to Look for in a Forex Training Program 1 reply

The Journal Of A Macro Fundamental & Technical Analysis Junkie 26 replies

Trade Anatomy - ramblings of an old-timer 147 replies

Attachments: Ramblings of a Forex Junkie
Exit Attachments

Ramblings of a Forex Junkie

  • #1,121
  • Mar 6, 2013 11:58am Mar 6, 2013 11:58am
Quoting Seneca pilot
.... I would use something like 25%/25%/50% to enter a full position in three parts. ...
Ok, i have a test A/C in Oanda, please explain to me how do you do this in Oanda? The only way i know is when closing a trade. Say, i am using a 1.0 lot size and i want to subdivide my trade in two parts (25% and 75%). To implement a partial close, i have to manually close one part( with 0.25 lot size) and let the other 0.75 move freely to its closing position, say a TP. How do you subdivide a trade in parts at entry level?
  • #1,122
  • Mar 6, 2013 12:29pm Mar 6, 2013 12:29pm
So USDJPY would have been an entry today using the previous London close although it missed by a smidge ?
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.gif Size: 16 KB
Simplicity is the ultimate in sophistication ~ Leonardo Da Vinci
  • #1,123
  • Mar 6, 2013 12:41pm Mar 6, 2013 12:41pm
Quoting fisheggs
So USDJPY would have been an entry today using the previous London close although it missed by a smidge ?
My daily open didn't trigger a trade on UJ. I don't use London close outside of pound based pairs. I might have shorted the 'tuesday high then reentered long on the failure and retest. I don't really like UJ and normally stay away from it.
  • #1,124
  • Mar 6, 2013 12:43pm Mar 6, 2013 12:43pm
Quoting square1
Ok, i have a test A/C in Oanda, please explain to me how do you do this in Oanda? The only way i know is when closing a trade. Say, i am using a 1.0 lot size and i want to subdivide my trade in two parts (25% and 75%). To implement a partial close, i have to manually close one part( with 0.25 lot size) and let the other 0.75 move freely to its closing position, say a TP. How do you subdivide a trade in parts at entry level?
Simple, if you want to trade 100,000 units you split it into two 25,000 unit entries and one 50,000 unit entry. Set the TP for each entry wherever you want.
  • #1,125
  • Mar 6, 2013 12:47pm Mar 6, 2013 12:47pm
Quoting square1
Ok, i have a test A/C in Oanda, please explain to me how do you do this in Oanda? The only way i know is when closing a trade. Say, i am using a 1.0 lot size and i want to subdivide my trade in two parts (25% and 75%). To implement a partial close, i have to manually close one part( with 0.25 lot size) and let the other 0.75 move freely to its closing position, say a TP. How do you subdivide a trade in parts at entry level?
Furthermore, Oanda will allow you to place an opposite order for a partial exit. If you are short 100,000 units and want to exit half you can place a buy limit order for 50,000 units at the level you want to exit. You have to do this on the FX trade platform as their MT4 platform will not allow this. At least not for US clients as this is treated as A hedge order in their MT4.
  • #1,126
  • Mar 6, 2013 12:52pm Mar 6, 2013 12:52pm
Quoting GnarlyPips
Can you provide a source for the US producing more oil than Saudi Arabia? I can find one on China importing more than the US, but not the other one. Thank you.
I think this is where the info came from.


US Oil Production Surpasses Saudi Arabia's For The First Time In A ...
  • #1,127
  • Mar 6, 2013 1:57pm Mar 6, 2013 1:57pm
hi guys hope you had a good day
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,128
  • Mar 6, 2013 2:09pm Mar 6, 2013 2:09pm
[quote=diamonddbw;6494432]++++++++++++++++++++++++++++++++

Serendipitous indeed! Yesterday I began putting Market Open lines on my charts, yes indeed it is good to talk and share ideas. Market opening/closing is so important whether 15 min or 1 hour it is very good for short term trading, today for instance we had everything i wrote a few days ago with e/u. 8-00 open the high was broken then retraced so technically a loss then low was broken, the channel was broken downside and then 2 support levels broken. everyday is not like this lol. oil was equally good after us market opened. be good
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,129
  • Mar 6, 2013 2:52pm Mar 6, 2013 2:52pm
Hi Everyone,
just found your thread, I haven't had time to catch up yet but it looks very interesting. I used to swing trade using standard type S/R but have moved to much shorter intraday trading and have found the open/close lines much more useful, I do still use some high/lows also. I have only been using the open/close lines for a couple of months so look forward to reading the insights of people who have more experience with them,

Regards

Lile Bror
  • #1,130
  • Mar 6, 2013 3:12pm Mar 6, 2013 3:12pm
[quote=lille bror;6495734]Hi Everyone,
just found your thread, I haven't had time to catch up yet but it looks very interesting.

Seneca introduced a good method to the viewers regarding market opening, the basis of this is very good and very profitable and slightly different to the way i trade as i do not trade retraces but i am aware of them. and every good move starts with a high/low being broken.. (thats the easy part) lol. b egood
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,131
  • Edited 4:05pm Mar 6, 2013 3:52pm | Edited 4:05pm
Seneca, I have one question regarding the add-on trades for the opening range breakout I hope you can clarify.

In post #908 you said: "Often in a trend you either get a breakout with no trade or continual trades triggered in the same direction. I add on every breakout..."

Does this mean you would also add another trade (and move the stop of the previous trade) if there is a closed H1 in the trend direction without retracement to the range?
  • #1,132
  • Mar 6, 2013 4:08pm Mar 6, 2013 4:08pm
Quoting Olarion1975
Seneca, I have one question regarding the add-on trades for the opening range breakout I hope you can clarify.

In post #908 you said: "Often in a trend you either get a breakout with no trade or continual trades triggered in the same direction. I add on every breakout..."

Does this mean you would also add another trade (and move the stop of the previous trade) if there is a closed H1 in the trend direction without retracement to the range?
No only if the entry criteria are met. I would move the stop on the original trade once the new breakout reaches 1/1 whether the trade was triggered or not.
  • #1,133
  • Mar 6, 2013 4:19pm Mar 6, 2013 4:19pm
An unusual late day move to the previous week low. I have not taken the long trade as it is not happening in a market time that I trade. I have pending orders to short at yesterday low and the weekly open/close. I will trade my normal intraday stuff tomorrow morning and see what happens with the short orders. I think its possible that the ECB is announcing some type of easing or a signaling a rate cut in the press conference tomorrow. If they do that and the unemployment numbers and NFP are good then look out below.
  • #1,134
  • Mar 6, 2013 4:27pm Mar 6, 2013 4:27pm
Quoting Seneca pilot
An unusual late day move to the previous week low. I have not taken the long trade as it is not happening in a market time that I trade. I have pending orders to short at yesterday low and the weekly open/close. I will trade my normal intraday stuff tomorrow morning and see what happens with the short orders. I think its possible that the ECB is announcing some type of easing or a signaling a rate cut in the press conference tomorrow. If they do that and the unemployment numbers and NFP are good then look out below.
Ok, nice analysis. I am curious to know if you would let the other half of the short trade from the EU breakout trade run or perhaps tighten the stop due to the heavy resistance at the weekly low...

I exited one half at 1/1, stop of the other half is at BE. From you experience, what would/do you do?
  • #1,135
  • Mar 6, 2013 4:47pm Mar 6, 2013 4:47pm
Quoting Olarion1975
Ok, nice analysis. I am curious to know if you would let the other half of the short trade from the EU breakout trade run or perhaps tighten the stop due to the heavy resistance at the weekly low...

I exited one half at 1/1, stop of the other half is at BE. From you experience, what would/do you do?
I am running mine. I will exit if there is a long breakout tomorrow. I will move it down if it breaks to the downside tomorrow.

If this low holds and there is a retracement the weekly open/close is a fifty percent retracement. I think that is a reasonable expectation for a retracement. Also all of the Asian trade for Monday and Tuesday was above or at these levels. The Asians will want to push price back up to this area to adjust their positions. Don't know if this will happen but it is typical.
  • #1,136
  • Mar 6, 2013 5:00pm Mar 6, 2013 5:00pm
Sorry for bothering you with a lot of questions:
How would you analyse GU...it has touched the previous weekly low. Would you enter a long position or look for a short around the weekly open instead?
  • #1,137
  • Mar 6, 2013 5:05pm Mar 6, 2013 5:05pm
Quoting Olarion1975
Sorry for bothering you with a lot of questions:
How would you analyse GU...it has touched the previous weekly low. Would you enter a long position or look for a short around the weekly open instead?

trade the method, back test, study
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,138
  • Mar 6, 2013 5:12pm Mar 6, 2013 5:12pm
Quoting Olarion1975
Sorry for bothering you with a lot of questions:
How would you analyse GU...it has touched the previous weekly low. Would you enter a long position or look for a short around the weekly open instead?
Honestly I haven't looked at GU in two weeks. I certainly wouldn't take anything on it now. If any thing I would wait and see where it is tomorrow and go from there. I don't have a lot of confidence in any level hits during a thin market like now. What I would want to see to get long would be a climb tonite and a retest tomorrow morning.
  • #1,139
  • Mar 6, 2013 5:23pm Mar 6, 2013 5:23pm
Quoting Olarion1975
Sorry for bothering you with a lot of questions:
How would you analyse GU...it has touched the previous weekly low. Would you enter a long position or look for a short around the weekly open instead?

i just took a quick look at g/u, the daily has been busted ,the weekly busted and the way i trade i would of been shorting but from several hours ago. These time frames are too long for me lol, meaning if it goes wrong it is difficult to correct unlike 15 min/hour time frames
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,140
  • Mar 6, 2013 5:25pm Mar 6, 2013 5:25pm
Thanks SP and billyt for your thoughts!
00:30 here in Germany, time for a nap...
7 traders viewing now