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Trading Made Simple

  • #17,561
  • Apr 15, 2013 8:04pm Apr 15, 2013 8:04pm
Quoting snarlyjack
The next big question is... I wonder what the eur/usd will do tonight? snarlyjack {image}
that's a 300 pips questions!

safe haven currency, huh!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #17,562
  • Apr 15, 2013 8:45pm Apr 15, 2013 8:45pm
EU 16 April

The story has changed after yesterday China released data show slower growth and the metal price fell across the board. Tghis looks like a a major correction to the bullish metal prices and we have to be vigilant how far this will go down until we see market support for the three precious metal gold, silver and copper. DOW fell yesterday ... serious drop.

I shorted EU with small position will see whether it break lower today and will add-on more positions when that happens. Should it reverse on me, I cut loss and look again at the PA.

Trade carefully this week....lots of data release which will increase market volatility.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #17,563
  • Apr 15, 2013 8:49pm Apr 15, 2013 8:49pm
GU 16 April:

New story unfold for ther short term traders.
Short term sell on D, trade on pullback in lower timeframes.

Trade with Caution.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #17,564
  • Apr 15, 2013 10:16pm Apr 15, 2013 10:16pm
Good advice Emmanuel,
Lots going on in the world right now...markets are getting volatile.
Volatility is good... but be smart about it

snarlyjack
  • #17,565
  • Apr 15, 2013 10:19pm Apr 15, 2013 10:19pm
Using different computer. Exam time.

London:-160
new york:na
london total: 565
new york-60
Total:505
Aggregate trades:102

Will post slides after exam
  • #17,566
  • Apr 15, 2013 11:08pm Apr 15, 2013 11:08pm
Attached Image (click to enlarge)
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I've shorted GBP/AUD.

Daily TF shows I should be a BUYER, but there's a resistance, marked with blue rectangle.

The trade is taken before LO, so I'll keep an eye on it. Maybe I'll close it sooner , not wait for the next candle.
  • #17,567
  • Apr 15, 2013 11:29pm Apr 15, 2013 11:29pm
Im aboard EURJPY, EURNZD.
Attached Image(s) (click to enlarge)
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  • #17,568
  • Apr 15, 2013 11:55pm Apr 15, 2013 11:55pm
Quoting Winner1245
Im aboard EURJPY, EURNZD. {image} {image}
http://www.forexfactory.com/attachme...1&d=1366086566

http://www.forexfactory.com/attachme...1&d=1366086573

Winner1245,

very interesting when I look at both EJ and EN charts comparing the PA and the TDI.
You took those trade entries early I supposed on H4 candle#1 changed colour.

How do you intend to manage these trades?

Regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #17,569
  • Apr 16, 2013 12:21am Apr 16, 2013 12:21am
Quoting emmanuel7788
{image} {image} Winner1245, very interesting when I look at both EJ and EN charts comparing the PA and the TDI. You took those trade entries early I supposed on H4 candle#1 changed colour. How do you intend to manage these trades? Regards,
Hi,
Most of the trades i take, Will usually start with lot of volume from London session. So, i enter during Euro session for an early entry.
And closely watch during the london session .
EJ yesterday formed a Pin bar. Actually my entry was little late. So, i waited for little confirmation from APb and entered.The pin formed formed at an excellent level which indicates lots of buyers when today daily candle opened.
I will breakeven as soon as price reaches 128.50-60 and target 130.50

Similarly on ENZD, THe previous support has now turned into resistance, I missed the first oppurtunity to go short on ENZD, But now this pair gave me second entry. I will breakevn once it reaches 1.5355 and Target the 1.5170 level.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: enzd.gif Size: 26 KB
  • #17,570
  • Apr 16, 2013 1:35am Apr 16, 2013 1:35am
Quoting emmanuel7788
EU 16 April The story has changed after yesterday China released data show slower growth and the metal price fell across the board. Tghis looks like a a major correction to the bullish metal prices and we have to be vigilant how far this will go down until we see market support for the three precious metal gold, silver and copper. DOW fell yesterday ... serious drop. I shorted EU with small position will see whether it break lower today and will add-on more positions when that happens. Should it reverse on me, I cut loss and look again at the PA....
Great bearish formation on daily so even though H4 looks like she wants to turn up, I'll wait for a sell signal on EU...

Same thing on most currencies im watching, large moves yesterday so might get small retrace before continuation...

Thanks Snarly, am really loving the stress free trading ;-)
@pawpaw1000 on Twitter
  • #17,571
  • Apr 16, 2013 1:37am Apr 16, 2013 1:37am
Quoting tenmilewalk
Using different computer. Exam time. London:-160 new york:na london total: 565 new york-60 Total:505 Aggregate trades:102 Will post slides after exam
Mate, I think you are doing something wrong if after 100 trades you are only up 500 pips. You need to reread the system perhaps or brush up on basics? Perhaps you are overtrading?

I've got about 6 trades and up 160 pips...
@pawpaw1000 on Twitter
  • #17,572
  • Apr 16, 2013 1:40am Apr 16, 2013 1:40am
, am really loving the stress free trading ;-)

Wow, lucky you!, I do not know term of "stress free trading" yet...
JacekPreserve Precious Capital
  • #17,573
  • Apr 16, 2013 1:50am Apr 16, 2013 1:50am
Quoting Jackub
, am really loving the stress free trading ;-) Wow, lucky you!, I do not know term of "stress free trading" yet...
Well, I think the reason why it's stress free is because you follow set rules and if it works, its because the system works... And if it doesn't, it's bad luck and you just look for the next entry...

Why should you stress? If you know that this system gives you 60 - 80% profitable trades then there really is no stress as in the long run you'll win, IF YOU STICK TO THE RULES.
@pawpaw1000 on Twitter
  • #17,574
  • Apr 16, 2013 1:58am Apr 16, 2013 1:58am
Quoting pawpaw1000
Well, I think the reason why it's stress free is because you follow set rules and if it works, its because the system works... And if it doesn't, it's bad luck and you just look for the next entry... Why should you stress? If you know that this system gives you 60 - 80% profitable trades then there really is no stress as in the long run you'll win, IF YOU STICK TO THE RULES.
Essentially you are right, but what is so obvious is most difficult to get, I am only human being with all his weaknesses, and as soon all of them will be eliminated will feel taste of the "stress free trade" until then....
JacekPreserve Precious Capital
  • #17,575
  • Apr 16, 2013 2:15am Apr 16, 2013 2:15am
Make me wonder what GU will do,
there is confluence of:
D1 swing up reached 23,6% fib ret and H4 swing down is nw at 38,2 % fib ret plus 200EMA... will price go up..??
JacekPreserve Precious Capital
  • #17,576
  • Apr 16, 2013 2:27am Apr 16, 2013 2:27am
EU reached 61,8% yesterday D1 candle, what now?
JacekPreserve Precious Capital
  • #17,577
  • Apr 16, 2013 2:39am Apr 16, 2013 2:39am
Pawpaw & Jackub,

I'am on my way to bed but just wanted to chime in.

Looking to go short on the eur/usd but it's not ready yet.

So...I'am watching a good movie on T.V. I used to watch
the news channel but that just brings me down. Sometimes
I'll read a good book but mostly I'll watch late night movies.

It reduces my stress and get's my mind off of every little "tick"
in the market. When it's ready to "pop" you'll know...

snarlyjack
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  • #17,578
  • Apr 16, 2013 3:41am Apr 16, 2013 3:41am
London: 60
London total: 625
Aggregate: 575
aggregate trades: 107

I think it is time for me to move to H4. Cant enter trades at H1 and let them run without monitoring. 100 trade sample size reached. Time to apply discretionary trading.

Any advice appreciated

Longer summary wouldve been included were it not for exams.
  • #17,579
  • Apr 16, 2013 3:44am Apr 16, 2013 3:44am
Quoting tenmilewalk
London: 60 London total: 625 Aggregate: 575 aggregate trades: 107 I think it is time for me to move to H4. Cant enter trades at H1 and let them run without monitoring. 100 trade sample size reached. Time to apply discretionary trading. Any advice appreciated Longer summary wouldve been included were it not for exams.
How many pairs you are following and long it took to get 100 trades... please?
JacekPreserve Precious Capital
  • #17,580
  • Apr 16, 2013 3:55am Apr 16, 2013 3:55am
Just wanna share my thought:

EU H1 Today
today gonna be a hard day with lot of news so really trade with care (hence why people don't like trading H1)
(and I don't know if we should trust TDI when the news come)
Attached Image (click to enlarge)
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3030 is still a strong support so shouldn't go short now unless that level is broken.
if it's not broken and bounce back then will enter long with the same target again (38.2 fib daily) @ 3100, until one of these breaks out.

both of these levels have been tested during the last 5 days.

GA H4 Short Today
In the mean time, I've entered short H4 GA @ 4790, SL 4855, TP 4587 unless sooner exit signal turns up. Usually short with 0.2 lots with H4 as I don't like big SL, but didn't trade GA before so just 0.1lot.

TDI & Stoch show signal. EMA is about to be broken. Meet resistance. Enough to enter.
Attached Image (click to enlarge)
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back... and more dangerous.
384 traders viewing now, 1 is registered:
mmo24h