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Ramblings of a Forex Junkie

  • #1,961
  • Apr 2, 2013 10:14am Apr 2, 2013 10:14am
Quoting Olarion1975
Right, but as you know I pay 1 pip additional buffer...just in case the outer range is touched exactly. I do not know if this will pay out in the long run, but it gives me a good feeling.
It might cost you the price of a nice meal over a year. No big deal.
  • #1,962
  • Apr 2, 2013 10:17am Apr 2, 2013 10:17am
Quoting Seneca pilot
I want out but it is far too cold and wet there. Southern Spain maybe. If this crisis keeps going you might be able to buy whole towns there for a few bucks.
Gibraltar has a favorable taxation regime. It looks quite crowded but you may be able to live in Spain and trade over the border and still get the tax benefits. Would involve a commute to the office though.
  • #1,963
  • Apr 2, 2013 10:31am Apr 2, 2013 10:31am
Quoting stevexyg
Gibraltar has a favorable taxation regime. It looks quite crowded but you may be able to live in Spain and trade over the border and still get the tax benefits. Would involve a commute to the office though.
Actually I went to Gibraltar twice last summer and loved it. In fact I've put it on my list of potential places to retire to! If you do commute though, you'll want to walk across the border. Every time we took the car we had to queue for over two hours. Besides, when you walk over the border, you also get to walk across the airport runway! Not many places you can do that!!
  • #1,964
  • Apr 2, 2013 10:40am Apr 2, 2013 10:40am
Quoting Tech10Ken
Actually I went to Gibraltar twice last summer and loved it. In fact I've put it on my list of potential places to retire to! If you do commute though, you'll want to walk across the border. Every time we took the car we had to queue for over two hours. Besides, when you walk over the border, you also get to walk across the airport runway! Not many places you can do that!!
Sounds like an exciting commute! So you can parkup and walk in that makes sense when faced with queues. What about motorbike or cycle?
  • #1,965
  • Apr 2, 2013 10:51am Apr 2, 2013 10:51am
Quoting Tech10Ken
Actually I went to Gibraltar twice last summer and loved it. In fact I've put it on my list of potential places to retire to! If you do commute though, you'll want to walk across the border. Every time we took the car we had to queue for over two hours. Besides, when you walk over the border, you also get to walk across the airport runway! Not many places you can do that!!
Yep, definitely the solution, prices of apartments are much higher Gib side too.

The Spanish obviously not very keen on the situation can, if they want to, make the crossing a real nightmare. When they get their knickers in a real twist they have been known to close it.
  • #1,966
  • Apr 2, 2013 10:58am Apr 2, 2013 10:58am
Quoting stevexyg
Sounds like an exciting commute! So you can parkup and walk in that makes sense when faced with queues. What about motorbike or cycle?
Just sent you PM
  • #1,967
  • Apr 2, 2013 11:01am Apr 2, 2013 11:01am
Quoting FX Alex
Yep, definitely the solution, prices of apartments are much higher Gib side too. The Spanish obviously not very keen on the situation can, if they want to, make the crossing a real nightmare. When they get their knickers in a real twist they have been known to close it.
No problem - that's just makes it more exciting
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  • #1,968
  • Apr 2, 2013 11:08am Apr 2, 2013 11:08am
Quoting dutchstew
Hello everyone , Seneca! I have used the news calender on FF for about 3 years now and I have never ever posted before on any thread. I just want to commend Seneca on his method. It is amazing to me how similar your approach is but from a completely different path. I trade the eurdollar futures market and have studied in detail order flow and how to make it work for me. Over time this developed into a method. The trades I take on the futures tend to be in the same location at the same time in the same direction but I dont reference open high close,...
Thank you.
  • #1,969
  • Apr 2, 2013 11:09am Apr 2, 2013 11:09am
LOL, wow that's weird, just watched that film last night
  • #1,970
  • Apr 2, 2013 11:14am Apr 2, 2013 11:14am
I was looking for human cannonball vids and that one just sprung to mind! good film
  • #1,971
  • Apr 2, 2013 1:04pm Apr 2, 2013 1:04pm
I am still getting a few PM messages from people doing testing. You guys are free to post the results in the thread if you wish. Of course it is your work and if you want to keep it private everyone will understand. I am impressed by the amount of work some of you are putting into this. That type of dedication will pay off in the form of good trading.
  • #1,972
  • Apr 2, 2013 3:55pm Apr 2, 2013 3:55pm
Hi everyone, i got back from seville about hour ago.OMG what happened to your thread SP.One question , you seemed to get rather emotional when you say some one is copying your work, you will never trade being emotional.and whilst in spain my ex student showed me some you tube clips showing your method entirely and this was 12 months old.Anyway take care with the trading i do believe it is slightly flawed regarding the entry but opening range breakout is a truly wonderful way to trade, 35% probability of reward and then it is so easy to produce a plan for further gains and that is what isnt told freely, be good
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,973
  • Apr 2, 2013 9:33pm Apr 2, 2013 9:33pm
Excellent thread here.

I use a system similar to this which includes 5 PM EST closes. Take a look at the EU from tonight and see how it respected the levels. Ever back-tested the system with 5 PM closes as compared to 12 AM? Curious to see what the stats would be.

Thanks and keep up the good work!
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  • #1,974
  • Apr 2, 2013 10:19pm Apr 2, 2013 10:19pm
Quoting NWSTrading
Excellent thread here. I use a system similar to this which includes 5 PM EST closes. Take a look at the EU from tonight and see how it respected the levels. Ever back-tested the system with 5 PM closes as compared to 12 AM? Curious to see what the stats would be. Thanks and keep up the good work! {image}
There are a few important times that work. The key to profitability is choosing the levels that you trust and trading them consistently. The NY close and the London rollover are the same time so that can be a rather important level. Just as with any other level it will work sometimes and fail sometimes. It is definitely a tradable level with EU, not so much with GU. Each pair has its own characteristics.
  • #1,975
  • Apr 2, 2013 10:37pm Apr 2, 2013 10:37pm
Quoting Seneca pilot
There are a few important times that work. The key to profitability is choosing the levels that you trust and trading them consistently. The NY close and the London rollover are the same time so that can be a rather important level. Just as with any other level it will work sometimes and fail sometimes. It is definitely a tradable level with EU, not so much with GU. Each pair has its own characteristics.
Buddy SP,
I am getting confused now with the critical time for key levels... I thought it is 3 hours before London open... but now you said NY close, which I thought is only for UJ as I remembered what you said. Anyway I will re-read all relevant information on this thread regarding to the time..

By the way, what do you think sam seiden supply and demand level and other tradition support/resistant level? Do you trade them at all?

cheers, kk007
  • #1,976
  • Apr 2, 2013 10:45pm Apr 2, 2013 10:45pm
Quoting kk007
Buddy SP, I am getting confused now with the critical time for key levels... I thought it is 3 hours before London open... but now you said NY close, which I thought is only for UJ as I remembered what you said. Anyway I will re-read all relevant information on this thread regarding to the time.. By the way, what do you think sam seiden supply and demand level and other tradition support/resistant level? Do you trade them at all? cheers, kk007
I responded to the question by NWST. I did not say I trade NY close. My daily open is three hours before London open. This has not changed since the first post. I have on occasion used Seiden levels for exits. I do not enter trades off them as there are too many of them and it is tough to determine which ones to trust. I rely on three basic prices each day. Simple is profitable. Most traditional S&R on an intraday basis is nothing more than short pauses in price and not to be relied on IMHO.
  • #1,977
  • Apr 2, 2013 10:57pm Apr 2, 2013 10:57pm
Quoting Seneca pilot
I responded to the question by NWST. I did not say I trade NY close. My daily open is three hours before London open. This has not changed since the first post. I have on occasion used Seiden levels for exits. I do not enter trades off them as there are too many of them and it is tough to determine which ones to trust. I rely on three basic prices each day. Simple is profitable. Most traditional S&R on an intraday basis is nothing more than short pauses in price and not to be relied on IMHO.
Thanks mate!
  • #1,978
  • Apr 3, 2013 3:21am Apr 3, 2013 3:21am
The second half from the OR trade from yesterday is still open...if the hourly bar closes above 1.28099 I will close it and look for a retest long.
  • #1,979
  • Apr 3, 2013 3:46am Apr 3, 2013 3:46am
Hi SP, Price rebound from 3hr before London open level (GMT4:00) a few minutes after news, would you have faded it?

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  • #1,980
  • Apr 3, 2013 4:11am Apr 3, 2013 4:11am
Quoting Olarion1975
The second half from the OR trade from yesterday is still open...if the hourly bar closes above 1.28099 I will close it and look for a retest long.
Missed the hourly close due to other work...arrghh...cost me 20 pips...
Closed second half for ONLY +8 pips...

Looking for a retest long now...
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