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  • #2,661
  • Apr 25, 2013 4:17am Apr 25, 2013 4:17am
SP

Very interesting thread , im in the process to "Format" my brain .... im studying all the post and PDF . i got a question , does someone figurre out the low of this monrning just after london open ... can't find a match to explain why the rebound took place at this level ...

cheers

landsat
Logic will take you from A to B Imagination will take you anywhere (A.E)
  • #2,662
  • Apr 25, 2013 4:23am Apr 25, 2013 4:23am
Quoting landsat
SP Very interesting thread , im in the process to "Format" my brain .... im studying all the post and PDF . i got a question , does someone figurre out the low of this monrning just after london open ... can't find a match to explain why the rebound took place at this level ... cheers landsat
Which fx pair are you talking about? In the case of Euro and Cable, both bounced off yesterday's high. Both Pairs broke the highs during asian session before testing the high again (resistance turn support) and continue higher.
  • #2,663
  • Apr 25, 2013 4:25am Apr 25, 2013 4:25am
OUPPPS .....

Sorry EURUSD ....

Thank's

Landsat
Logic will take you from A to B Imagination will take you anywhere (A.E)
  • #2,664
  • Apr 25, 2013 6:13am Apr 25, 2013 6:13am
Quoting landsat
SP Very interesting thread , im in the process to "Format" my brain .... im studying all the post and PDF . i got a question , does someone figurre out the low of this monrning just after london open ... can't find a match to explain why the rebound took place at this level ... cheers landsat
This low was in thin air on EU but it happened that it was a test of the London close on EJ. This is a clue as to which currency is in charge today and its not the dollar.
  • #2,665
  • Apr 25, 2013 6:18am Apr 25, 2013 6:18am
Quoting hollowhead
Hi all, thanks for a great thread - so much great wisdom and experience. I have spent a couple of days reading the thread (yes it took that long, when you're looking at the charts as well). I am still a little unclear on one aspect of trading key levels. For example - at the moment GU spiked on news and has gone beyond the PWeek high - so it makes sense to short (especially as it hasn't gone much beyond for over a month). SoI jumped in front the train, but my SL was probably to short for the momentum and I got taken out. My question is, at what...
Shorting at the daily high on GU was OK. The news was a pretty good beat so no surprise it zoomed up. The high was never tested so no retest to take up. Chalk this one trade up to a loss and don't look back. It happens, not every trade will come back and let you in. You could have traded this as a news style trade and longed on the breakout of the news bar and taken fifty pips or more. You know when it is time to reverse when the price has gone far enough to stop out or at least very close. If price missed the stop out by two or three pips I may go ahead and reverse at the level.
  • #2,666
  • Apr 25, 2013 6:35am Apr 25, 2013 6:35am
Quoting Seneca pilot
{quote} Shorting at the daily high on GU was OK. The news was a pretty good beat so no surprise it zoomed up. The high was never tested so no retest to take up. Chalk this one trade up to a loss and don't look back. It happens, not every trade will come back and let you in. You could have traded this as a news style trade and longed on the breakout of the news bar and taken fifty pips or more. You know when it is time to reverse when the price has gone far enough to stop out or at least very close. If price missed the stop out by two or three pips...
Thanks SP.
  • #2,667
  • Apr 25, 2013 6:46am Apr 25, 2013 6:46am
Quoting Seneca pilot
{quote} Shorting at the daily high on GU was OK. The news was a pretty good beat so no surprise it zoomed up. The high was never tested so no retest to take up. Chalk this one trade up to a loss and don't look back. It happens, not every trade will come back and let you in. You could have traded this as a news style trade and longed on the breakout of the news bar and taken fifty pips or more. You know when it is time to reverse when the price has gone far enough to stop out or at least very close. If price missed the stop out by two or three pips...
About GU and the news. I watched the news and one thing puzzles me. This has happened few times earlier too.

I marked situations with nro 1. and nro 2.

Which one is the news bar in 15 min TF. I think, it should be that bar nro 2?

What to do, when there is already a big upmovement or downmovement before actual news release? I also have read somwhere that Reuters and Bloomberg release news about 2min before they appear at free sites ie. Forex Factory and others. And from there comes to mind, is the realese at the time for example 4.30 AM or 4:28 for Reuters and Bloomberg?
Attached Image (click to enlarge)
Click to Enlarge Name: GU News.jpg Size: 110 KB
  • #2,668
  • Apr 25, 2013 6:52am Apr 25, 2013 6:52am
Quoting tdforex
{quote} About GU and the news. I watched the news and one thing puzzles me. This has happened few times earlier too. I marked situations with nro 1. and nro 2. Which one is the news bar in 15 min TF. I think, it should be that bar nro 2? What to do, when there is already a big upmovement or downmovement before actual news release? I also have read somwhere that Reuters and Bloomberg release news about 2min before they appear at free sites ie. Forex Factory and others. And from there comes to mind, is the realese at the time for example 4.30 AM or...
That is a problem. Here is my chart. Fifteen minute TF. The news was 09:30 London time so the 09:30 to 09:45 bar is my news bar and I would have taken the breakout at 1.54120. Interesting that this breakout was just above the previous week high.
Attached Image (click to enlarge)
Click to Enlarge Name: news.gif Size: 15 KB
  • #2,669
  • Apr 25, 2013 6:54am Apr 25, 2013 6:54am
Quoting tdforex
{quote} About GU and the news. I watched the news and one thing puzzles me. This has happened few times earlier too. I marked situations with nro 1. and nro 2. Which one is the news bar in 15 min TF. I think, it should be that bar nro 2? What to do, when there is already a big upmovement or downmovement before actual news release? I also have read somwhere that Reuters and Bloomberg release news about 2min before they appear at free sites ie. Forex Factory and others. And from there comes to mind, is the realese at the time for example 4.30 AM or...
I can't replicate your chart even going down to one minute timeframe. One of our brokers is making it up as they go. Or perhaps are you graphing the ask price instead of the bid?
  • #2,670
  • Apr 25, 2013 7:11am Apr 25, 2013 7:11am
Quoting Seneca pilot
{quote} I can't replicate your chart even going down to one minute timeframe. One of our brokers is making it up as they go. Or perhaps are you graphing the ask price instead of the bid?
Interesting differences. That is good that your entry would have been about same lever +- 3 to 5 pips.

Here is my minute table and it shows quite accurately the reaction was actually 4:30.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_250 Apr. 25 17.07.jpg Size: 90 KB
  • #2,671
  • Apr 25, 2013 7:51am Apr 25, 2013 7:51am
Everybody in the world is calling for a rate cut. It is being priced in. I wonder if this is going to be the same movie as last month? No cut and its Euro to the moon.
  • #2,672
  • Apr 25, 2013 8:17am Apr 25, 2013 8:17am
Quoting Seneca pilot
{quote} Interestingly this week we have had a winner Monday, no trade Tuesday, and two winners today. Three days three winning trades and we are in chop. With a trend we might have two or three winning trades stacked and riding.


Hi SP

Where is my mistake please?
I couldn't trade today but I can see two losers today...

Thanks
"Always be yourself " Batman
  • #2,673
  • Apr 25, 2013 8:23am Apr 25, 2013 8:23am
Quoting rdsl
{quote} Hi SP Where is my mistake please? I couldn't trade today but I can see two losers today... Thanks
Yep, two losers today that post was yesterday. two winners yesterday and two losers today. This will continue until the rate decision next week. The Japanese rate announcement will also give the market a little fuel but EU traders are waiting to see what the ECB does.
  • #2,674
  • Apr 25, 2013 8:26am Apr 25, 2013 8:26am
Quoting Seneca pilot
{quote} Yep, two losers today that post was yesterday. two winners yesterday and two losers today. This will continue until the rate decision next week. The Japanese rate announcement will also give the market a little fuel but EU traders are waiting to see what the ECB does.
Any idea to have some kind of chatroom for this tradingstyle? I think many acute questions would be answered and it would be greatly beneficial for all.
  • #2,675
  • Apr 25, 2013 8:30am Apr 25, 2013 8:30am
Quoting Seneca pilot
{quote} Yep, two losers today that post was yesterday. two winners yesterday and two losers today. This will continue until the rate decision next week. The Japanese rate announcement will also give the market a little fuel but EU traders are waiting to see what the ECB does.
Ok, my bad !
Thanks Chris
(and of course sorry)
(You can erase that post for me, I'm embarrased)
"Always be yourself " Batman
  • #2,676
  • Apr 25, 2013 9:35am Apr 25, 2013 9:35am
Quoting kk007
{quote} Everything in trading is damn easy to Xhale... he should have been a multi-millionaire for long... I just don't bother arguing with him.
This coming from the man who was asking me questions only weeks ago about how I trade and begging for help......

KK you are one of the thousands of members on this site who wants to be spoon fed everything. No one wants to put in the necessary hours in front of the screen. They hop from thread to thread, system to system, hoping to run across the magic grail. It's never going to happen. YOU need to develop your edge. No one is going to do it for you. Learn to think for yourself for fucks sake. Better yet you should quit trading and find something else to do. There are plenty of less stressful ways to make money on the computer that are a hell of a lot easier as well.

SP do what you wish. If you feel overwhelmed with the attention this thread has received then you should leave. I would have left long ago in your position. Why stick around if your not getting anything out of it...... all the questions are becoming terribly redundant at this point as well. There is more than enough info in this thread already for anyone that wishes to trade your technique.

I won't take up anymore space in this thread. So long.
What is any ocean but a multitude of drops?
  • #2,677
  • Edited 2:18pm Apr 25, 2013 1:53pm | Edited 2:18pm
Quoting Seneca pilot
{quote} I don't know, I know how this type of thing is received here on this forum and I have been one of the detractors before. I just find myself in the position of having a full time job maintaining a thread and answering questions with absolutely no real value to me. I know I am helping a few and that keeps me going but this thread is a second occupation and that was not the goal.
Chris anyone can see how much you have put into this thread not just in terms of time over the past months but also the years of experience and hard work that you have shared. You haven't just shown a simple 2hr-lesson strategy, you have fleshed out the background and then some! I'm 100% sure you are the real deal and a real nice guy and that's all I'd need to be sure of to wish you well in any live room wish to operate. You shouldn't feel like you need to apologise, why should you, because there are a lot of scammers in this industry and because a lot of live rooms are a con? Ok that may be true but you are not responsible any of that. You are clever and wise enough to know people need to be taught how to farm not just how to pick the tomatoes you point out to them. So unlike Xhale I would advise you to offer the service and do a great job. For your future plans of fund managing having a pay live room would be excellent experience for you. Go commercial and charge for your time, there is nothing wrong with it, no one will be forced to sign up with you! Why leave all the live rooms to the amateurs? Personally I wouldn't need to subscribe because the five years I'd spent trying to succeed in this game meant I was ready for your lessons. However you are more than capable of giving a valid and worthwhile service to help those without such a background. Whatever you decide, do it for the right reasons. Steve.
  • #2,678
  • Apr 25, 2013 2:14pm Apr 25, 2013 2:14pm
Quoting stevexyg
{quote} Chris anyone can see how much you have put into this thread not just in terms of time over the past months but also the years of experience and hard work that you have shared. You haven't just shown a simple 2hr-lesson strategy, you have fleshed out the background and then some! I'm 100% sure you are the real deal and a real nice guy and that's all I'd need to be sure of to wish you well in any live room wish to operate. You shouldn't feel like you need to apologise, why should you, because there are a lot of scammers in this industry...
Thank you Steve. I view it like this:

I don't need the money from a teaching business, but I also place a high value on my time and won't pay for the priveledge of teaching people.
  • #2,679
  • Apr 25, 2013 2:26pm Apr 25, 2013 2:26pm
Quoting Xhale
{quote} No one wants to put in the necessary hours in front of the screen. They hop from thread to thread, system to system, hoping to run across the magic grail. It's never going to happen. YOU need to develop your edge.
Every word I agree with. But did you ever have a teacher in school or college who was so enthused and involving with their teaching style that you were simply inspired and became an eager learner? Great teachers have a lot to offer the world. You can't say to every student or apprentice 'here's the text books, read them and come back in 12months for the exam'. Would you say 5% might do well? Ofcourse I'm not saying SP is a great teacher, he might prove to be really shit and get paper planes thrown at him from the back of the class but give the boy a chance. Settle down at the back.
  • #2,680
  • Apr 25, 2013 2:26pm Apr 25, 2013 2:26pm
Quoting Seneca pilot
{quote} Thank you Steve. I view it like this: I don't need the money from a teaching business, but I also place a high value on my time and won't pay for the priveledge of teaching people.
I would also add that the thread content is and will always be free. The information is there.
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