Ramblings of a Forex Junkie | Page 61 | 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

  • #1,201
  • Mar 8, 2013 3:34am Mar 8, 2013 3:34am
Quoting MoralAtheist
Anybody got a view on the Non Farm today? I'm long the EUR/USD and hoping for week numbers to give it a bit of a boost _
i think the method they use in here will not of triggered yet, and i'm not sure of the peoples views regarding your question. i know the news throughout the night (in UK) sounded not good for usa but china seems to be doing well
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,202
  • Mar 8, 2013 3:38am Mar 8, 2013 3:38am
[quote=MoralAtheist;6500679]
Quoting billytt

Interesting... Does it make money over all?
is your question directed at spikes in oil. If you have patience the spikes come. and with oil they go off like rockets. and you can up the pip stake. But a lot of thought must go into it and do not take risk
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,203
  • Mar 8, 2013 3:40am Mar 8, 2013 3:40am
[quote=billytt;6500695]
Quoting MoralAtheist

is your question directed at spikes in oil. If you have patience the spikes come. and with oil they go off like rockets. and you can up the pip stake. But a lot of thought must go into it and do not take risk

Yeah.. It was about spikes on oil, but I guess the same method could be applied to Forex... How do you anticipate when a spike will come? or are you trading the likely retrace?
Stop or target...
  • #1,204
  • Mar 8, 2013 3:42am Mar 8, 2013 3:42am
speaking oil, i think the seneca trading method could well be good with it but i think the us opening time would be better suited, i have not tested that method but i do also trade it a similar way
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,205
  • Mar 8, 2013 3:45am Mar 8, 2013 3:45am
[quote=MoralAtheist;6500703]
Quoting billytt


Yeah.. It was about spikes on oil, but I guess the same method could be applied to Forex... How do you anticipate when a spike will come? or are you trading the likely retrace?
spikes can happen in any market but with oil they can be huge, things to trigger it can be hostilities in the world,weather good economic news etc.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,206
  • Mar 8, 2013 3:56am Mar 8, 2013 3:56am
Hi snail how are you
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,207
  • Mar 8, 2013 5:28am Mar 8, 2013 5:28am
Quoting billytt
Hi snail how are you
Hi billy, sorry I missed your greeting earlier in this thread. All's well here thanks for asking, and for you too I hope. Climbing on board the long term Yen train...
Not for the first time I hear our Stateside (East Coast, anyway) friends whingeing about not being able to trade the London open very easily. It is true you get some great opportunities, especially if there is a strong trend and Asia is flat. I think I would adjust my trading style to the daily and use stop orders. Much more relaxing than trying to stay up all night. I hardly ever use market orders anyway.
Gone to a better place
  • #1,208
  • Mar 8, 2013 5:39am Mar 8, 2013 5:39am
Quoting billytt
Hi snail how are you
Hi Billy. All well. Morning done, now waiting for after nfp. You ? Be safe.
  • #1,209
  • Mar 8, 2013 7:12am Mar 8, 2013 7:12am
Looking back on nfp over the last year, I would have to agree with SP's comments.

• 15 min bar break failed only once. And during this month the (Failed) break out was in the same direction as a very large wick.

• 2 months (possibly 3) the next M15 bar did not break and whatever subsequent moves were (imo) not very tradable.

On additional 'Early' observation regarding BO's of large bars on any TF, is that there seems to be follow thru in the same direction. I will be looking more in depth to this question this w/e.

"In the absence of clearly-defined goals, we become strangely loyal to performing daily trivia until ultimately we become enslaved by it." ~ Robert Heinlein
  • #1,210
  • Edited 7:51am Mar 8, 2013 7:19am | Edited 7:51am
@Seneca Pilot,

I am back full time. My 100$ mini account is ready...well time should not be a problem for me as I currently have 24hours doing nothing LOL I mean i am still searching for job for years now. Ok am not going to be using this account for testing but for serious live trade and good mm (0.01, 0.02 lot = 1000 - 2000units). I have lost so much before on live account in practicing and serious trading. Before I begin, can you please give direction on the following:

1. All the indicators you use on your chart like the open, close, weekly e.t.c horizontal lines?

2. Average true range and how you apply it.

3. A brief summary of how you trade this method

4. I have read the thread to some pages and it is truely rambling

5. How many signal daily can one expect from this method? (I have all the time in the world and that's why I ask)

6. How do you spot a ranging market?

7. What time frame is the method based on? Thanks and wish you all the best in your trading.
  • #1,211
  • Mar 8, 2013 8:08am Mar 8, 2013 8:08am
I just exited with 27 pips. If any of you sold at yesterday's high and held for the NFP drop I would love to see it. I was asleep when it turned around. I actually lever up a little on these NFP trades so 27 pips was a nice day.
  • #1,212
  • Mar 8, 2013 8:10am Mar 8, 2013 8:10am
Quoting Seneca pilot
I just exited with 27 pips. If any of you sold at yesterday's high and held for the NFP drop I would love to see it. I was asleep when it turned around. I actually lever up a little on these NFP trades so 27 pips was a nice day.
For those of you with big balls 1.2950 would be a nice target.
  • #1,213
  • Mar 8, 2013 8:10am Mar 8, 2013 8:10am
Quoting Seneca pilot
I can't find the post where I described the NFP strategy either. Here it is, very simple.

The report comes out at 08:30 eastern 13:30 GMT.
The fifteen minute bar from 13:30 to 13:45 is our focus.
If the next bar (13:45 to 14:00) is an inside bar take the breakout, either direction.
If the next bar is not an inside bar but breaks out take that trade, either direction.
This is a pure breakout method, no closes, no retrace entry.
Stops and targets are up to you and your risk tolerence.
I trade all big high impact news events this way.
I...
Well that worked well for 2 R spiking the daily and weekly low.

Cheers Seneca.
Simplicity is the ultimate in sophistication ~ Leonardo Da Vinci
  • #1,214
  • Mar 8, 2013 8:11am Mar 8, 2013 8:11am
Quoting dedoctor
@Seneca Pilot,

I am back full time. My 100$ mini account is ready...well time should not be a problem for me as I currently have 24hours doing nothing LOL I mean i am still searching for job for years now. Ok am not going to be using this account for testing but for serious live trade and good mm (0.01, 0.02 lot = 1000 - 2000units). I have lost so much before on live account in practicing and serious trading. Before I begin, can you please give direction on the following:

1. All the indicators you use on your chart like the open, close,...
All of this is in the thread. Please read it and come back Monday with your questions to clarify things.
  • #1,215
  • Mar 8, 2013 8:13am Mar 8, 2013 8:13am
Quoting fisheggs
Well that worked well for 2 R spiking the daily and weekly low.

Cheers Seneca.
The hit rate for this is fantastic. Over ninety percent. And it can be used for all really high impact news. NFP, rate decisions, etc.
  • #1,216
  • Mar 8, 2013 8:19am Mar 8, 2013 8:19am
Ok so why wait for the fifteen minutes to pass?

Two reasons:

1. The news gets digested and the true direction is in place for the move. If the news bar breaks out the next bar that may be the direction for the coming days. If the inside bar forms and then breaks out it is almost a guaranteed trade, rarely ever lose.

2. The spread has returned to normal levels and you don,t have to overcome ten pips spread just to come into profit.
  • #1,217
  • Mar 8, 2013 8:20am Mar 8, 2013 8:20am
Seneca great !

Just got almost 2RR out of this. 51.8 pips 27 stop
Attached Image (click to enlarge)
Click to Enlarge Name: seneca.gif Size: 61 KB
  • #1,218
  • Mar 8, 2013 8:22am Mar 8, 2013 8:22am
Quoting dedoctor
@Seneca Pilot,

I am back full time. My 100$ mini account is ready...

Ok am not going to be using this account for testing but for serious live trade and good mm (0.01, 0.02 lot = 1000 - 2000units).

I have lost so much before on live account in practicing and serious trading.

Before I begin, can you please give direction on the following:
My friend, I don't even know if you are serious or not, but my recommendation is to put that money away with everything you said after that. It appears you have not thought about what you stated you have read. Don't risk your money until you understand the questions you asked. All the information you need to get started was explained very well. Now if you did read through it, do it again and this time take every piece of information you have received and find answers to the questions that they bring up. Your hard work in finding the answers will undoubtedly help. With that said, many answers are given within the thread itself, but if you really dig into the PHILOSOPHY of what is being GIVEN to you, you will find more than you have asked.

Your request will not be nearly as beneficial to you or your account balance unless you understand some basic things and then find answers to the "why" behind them.

Good luck to you my friend!
  • #1,219
  • Mar 8, 2013 8:32am Mar 8, 2013 8:32am
Quoting TantumVerum
My friend, I don't even know if you are serious or not, but my recommendation is to put that money away with everything you said after that. It appears you have not thought about what you stated you have read. Don't risk your money until you understand the questions you asked. All the information you need to get started was explained very well. Now if you did read through it, do it again and this time take every piece of information you have received and find answers to the questions that they bring up. Your hard work in finding the answers will...
Vouched you are obviously thoughtful and self reliant.
  • #1,220
  • Mar 8, 2013 8:33am Mar 8, 2013 8:33am
True selfless guidance in the works here. Thank you all.

Pulled some nice pips off EU drop, getting out of last portion near last weeks low.

Watching levels closely for opportunity to re-enter short. Will only do so if things line up nicely and also only small size, or nothing.
3 traders viewing now