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  • #10,801
  • Mar 19, 2013 5:14am Mar 19, 2013 5:14am
I'm confuse of what happening. Now I dare not take the EU trade. Can any senior please guide me

I follow instruction, during London open I follow the break trend. Then an hour later the closing we back to asian. So I exited. with -5pips.
Then I saw a spike, I enter again. First I thought it was the PA sudden jump, so just follow. When I read the FF seems it's just a spike.
Therefore, I waited the PA reach my area, I exited with +2pips. Because of the ZEW news. Better get off the train before getting bigger wound.

And now the PA Burst up, but again, the PA seems heading down again. I did not trade as I there's no valid crosses.

But the PA is moving up. Should I follow the BULL or BEAR in the future.
  • #10,802
  • Mar 19, 2013 6:09am Mar 19, 2013 6:09am
Quoting gigapip
I'm confuse of what happening. Now I dare not take the EU trade. Can any senior please guide me

I follow instruction, during London open I follow the break trend. Then an hour later the closing we back to asian. So I exited. with -5pips.
Then I saw a spike, I enter again. First I thought it was the PA sudden jump, so just follow. When I read the FF seems it's just a spike.
Therefore, I waited the PA reach my area, I exited with +2pips. Because of the ZEW news. Better get off the train before getting bigger wound.

And now the PA Burst up, but...
when you micro manage and / or babysit your trades, the screen starts to talk back at you.
Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #10,803
  • Mar 19, 2013 6:40am Mar 19, 2013 6:40am
Thx emmanuel7788

Hmm I'm refresh a bit. I'll just sit out and wait for NY session.
  • #10,804
  • Mar 19, 2013 6:47am Mar 19, 2013 6:47am
Quoting emmanuel7788
Too late ...it broke out when the H1 close...
now what shall you do?

Look at H4 that what I will do if I missed the ealry entry...
Dead price. Will wait for TDI cross during NYO.12min to go
  • #10,805
  • Mar 19, 2013 6:57am Mar 19, 2013 6:57am
Quoting Winner1245
Dead price. Will wait for TDI cross during NYO.12min to go
a very complex H4 CS pattern .. IB + IB + Pop Gun
there is FEAR come close to 1.5150
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #10,806
  • Mar 19, 2013 7:08am Mar 19, 2013 7:08am
Quoting emmanuel7788
a very complex H4 CS pattern .. IB + IB + Pop Gun
there is FEAR come close to 1.5150
70-60 pip range.
A break of 1.5150 to long
1.50070 to go short.
  • #10,807
  • Mar 19, 2013 7:19am Mar 19, 2013 7:19am
Slowly picking speed. 1.5200 and 1.5316 targets.
  • #10,808
  • Mar 19, 2013 7:27am Mar 19, 2013 7:27am
Quoting Winner1245
Slowly picking speed. 1.5200 and 1.5316 targets.
supported at TOK_5H high ... nicely.
did you see that? thats 38/50 entry
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #10,809
  • Mar 19, 2013 7:32am Mar 19, 2013 7:32am
Quoting emmanuel7788
supported at TOK_5H high ... nicely.
did you see that? thats 38/50 entry
Wow thats rejection 1.5140
Asian high .
Here this is how my chart looks right now
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 19 KB
  • #10,810
  • Mar 19, 2013 8:43am Mar 19, 2013 8:43am
Waiting for cross making is time consuming. 2hrs done and still zigzag.

Hope there is cross after this. I'm waiting impatiently... And no sideways, pls. First trial..
  • #10,811
  • Mar 19, 2013 10:39am Mar 19, 2013 10:39am
Wish Phx62 was here. It would be so hilarius again to watch him earn truckloads of pips on GBP/USD today

Cheers!
M.
Remember I'm a newbie!
  • #10,812
  • Mar 19, 2013 10:50am Mar 19, 2013 10:50am


Quoting emmanuel7788
a cat has nine lives.
there are many ways to skin a cat.
  • #10,813
  • Mar 19, 2013 11:09am Mar 19, 2013 11:09am
Trade Result.

Jump on Long EU at the begining candle. No Good. -40pips.
Jump on Short EJ, 30 minutes later. Good +100pips.

Overall 100-40pips. Satisfied.
Attached Image (click to enlarge)
Click to Enlarge Name: 2013.03.19 ej sell entry.gif Size: 28 KB
Banker please return my pipins.
  • #10,814
  • Mar 19, 2013 1:04pm Mar 19, 2013 1:04pm
London P/L:20
New York P/L: NA

Daily total:20

Aggregate Trades: 38
Aggregate P/L: 268

Winner1245 pointed out mistake. Should not have entered GBP.JPY before london
Closed EUR/USD too early. Let trades breathe. Focus on R/R later.

reminder* work on 1:2 R/R next week
  • #10,815
  • Mar 19, 2013 5:13pm Mar 19, 2013 5:13pm
Quoting emmanuel7788
Hi myhong,

Ok, I compare those Phx62 lines with what I have on my chart and they are similar historical support and resistance levels I have.

Learn to draw S&R on your charts.

Trade Well.

Edit:

Learn to draw support and resistance using Line chart other than seeing only the candlstick charts.
Study babypips.com
link here:
http://www.babypips.com/school/suppo...esistance.html
Thanks Emmanuel7788 a lot, I will study more !
My
  • #10,816
  • Mar 19, 2013 10:31pm Mar 19, 2013 10:31pm
Quoting mierzyk
Wish Phx62 was here. It would be so hilarius again to watch him earn truckloads of pips on GBP/USD today

Cheers!
M.
I hope Phx62 sees what am writing, yes wish you were here showing your trades on EUR/USD and EUR/JPY the short trades before London close

I have traded early in the Londond sessions and NY but was chopped up

I think in terms of Phx62 methodology that is build into my mind is something like this " Price sat the high of the day early at London open, then price went in the other direction, then price pullback but could not break the high of the day, entered short on the break of previous candle and ride the trade , exit with 100 or so pips " just my 2 cents

Phx62, your here no matter where you are and what have you done to traders, will always be there.
I Have Learned to Take Some Losses to Make Profits
  • #10,817
  • Mar 19, 2013 11:28pm Mar 19, 2013 11:28pm
Quoting TheScorpS
I hope Phx62 sees what am writing, yes wish you were here showing your trades on EUR/USD and EUR/JPY the short trades before London close

I have traded early in the Londond sessions and NY but was chopped up

I think in terms of Phx62 methodology that is build into my mind is something like this " Price sat the high of the day early at London open, then price went in the other direction, then price pullback but could not break the high of the day, entered short on the break of previous candle and ride the trade , exit with 100 or so pips "...

you are talking about EU on H1.
100 pips is not that easy in recent 100 days when the traded range is between 85 and 105 pips.
there has to be a breakout in the Primary Trend which is H4, and to know whether it will run is when you see a H4 TDI bounce 12-2 or 4-6 or a cross in the right direction in your favour. This is the condition you hold your trade for that 100pips to get hit.

Never take your eyes off the next higher TF i.e. your H4 and also your D.
You need to learn and identify the day swing highs and swing lows beacsue this most often what the market does in sideway wide ranging condition.

When market goes into sideway narrow range, this is when most S3 H1 traders get slaughtered when they think of getting that 50pips as target TP.


Trade Well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #10,818
  • Mar 20, 2013 1:47am Mar 20, 2013 1:47am
Quoting emmanuel7788
you are talking about EU on H1.
100 pips is not that easy in recent 100 days when the traded range is between 85 and 105 pips.
there has to be a breakout in the Primary Trend which is H4, and to know whether it will run is when you see a H4 TDI bounce 12-2 or 4-6 or a cross in the right direction in your favour. This is the condition you hold your trade for that 100pips to get hit.

Never take your eyes off the next higher TF i.e. your H4 and also your D.
You need to learn and identify the day swing highs and swing lows beacsue this most often...
Very good information about higher time frame, ie 4H, I very much find a very strong conection between the 4H chart and the 1H chart, specially drawing fibs on the 4H time frame, and see where things might develope there, and then execute on the 1H chart, yesterday was a day when I did not act as discipline as a successful trader do, so today would be a sideline day for me watching the market and stuyding this thread as I have reached page No. 210 and back testing , maybe I continue the week on the sideline too.

Look at my chart where I write some notes to keep them as trading journal
Attached Image (click to enlarge)
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I Have Learned to Take Some Losses to Make Profits
  • #10,819
  • Mar 20, 2013 2:53am Mar 20, 2013 2:53am
Thought id try 15min TF on EURJPY and has worked out nicely.

Entered after green dot after Europe open and went my way confirmed by TDI cross, have just exited at 200 moving average for 63 pips.

Looks like the move may continue especially with London open but have to go to work .
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy 20032012.PNG Size: 17 KB
We're all just one trade away from humility.
  • #10,820
  • Mar 20, 2013 2:57am Mar 20, 2013 2:57am
Potential breakout EUR.USD
Attached Image (click to enlarge)
Click to Enlarge Name: mar 20 eur.usd trendline breakout.png Size: 59 KB
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