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  • #800,601
  • May 23, 2013 5:30am May 23, 2013 5:30am
Quoting RsX
{quote}Um.. 1) I never bother thinking/supposing/wondering whether if it breaks or not. I have no idea. When it does however - that's my cue along the current price structure.2) best SL @ 2920, after the breakdown+pullback ? really? 40+ pips?? good humor, hope it was meant that way. quite a good one for today..
It's all about MM...40 pips SL is fine is you aim at a good ride down.
I wouldn't put a sl at 93...if i check m5 its in the middle of nowhere....better put it at the intraday high.
COT: The precious data ignored
  • #800,602
  • May 23, 2013 5:30am May 23, 2013 5:30am
Quoting Mr Hatch
{quote} norm is 2862.8 bbl
What does 'norm' mean ?
  • #800,603
  • May 23, 2013 5:31am May 23, 2013 5:31am
Quoting RsX
{quote} 2862 norm - as in price magnet / bounce area, after breakdown? Ya I've got 2858-64 zone, so enough match. Thanks. Close enough match for that 2857, too.
You're asking what norm is...........i'm asking what the meaning of 'breakdown' ?! Going short? breaking through a trendline of some sort ?

Why can't people here speak proper English? Or make better sentences?
  • #800,604
  • May 23, 2013 5:32am May 23, 2013 5:32am
Quoting piptastic7
{quote} What does 'norm' mean ?
Price where pair usually retrace.

Well that's the way i understand it.
COT: The precious data ignored
  • #800,605
  • May 23, 2013 5:34am May 23, 2013 5:34am
Quoting kuroro001
{quote} Price where pair usually retrace. Well that's the way i understand it.
retrace to ?
  • #800,606
  • May 23, 2013 5:37am May 23, 2013 5:37am
Quoting piptastic7
{quote} retrace to ?
To the norm
COT: The precious data ignored
  • #800,607
  • May 23, 2013 5:40am May 23, 2013 5:40am
Quoting kuroro001
{quote} It's all about MM...40 pips SL is fine is you aim at a good ride down.I wouldn't put a sl at 93...if i check m5 its in the middle of nowhere....better put it at the intraday high.
Appreciate the insight and perspective, kuroro. Thank you. But, with setups/patterns I'm using, rarely need much wider than 15pips to know I'm wrong on the trade attempt. It's just technical - I get a pattern break / signal, if it comes back deep into or the other side, I'm wrong on the trade already. No reason to wait for the trade to go twice as much against... I can always reenter on reconfirm of setup, if spiked out once for some reason - it happens at times, naturally. Plus I'm targeting maybe ~110+ with this one, so risk/reward would be insufficient @ 30-40pips SL - in addition, would require about half the normal size position, to keep money management the same (I risk 2%-3% per trade/idea on average, never less or more).

2993+ is pretty much the flipside of my pattern setup, so I know I'll be wrong there. stops above reaction high would already be the flipside signal working good distance for me - so no point for that wide of a stop.

Thanks again for the ideas.
Patience, persistence and probabilities.
  • #800,608
  • May 23, 2013 5:41am May 23, 2013 5:41am
Quoting kuroro001
{quote} Price where pair usually retrace. Well that's the way i understand it.
Can't be. Price varies all the time. The norm at 1.42 is not the norm now. You either have to talk about norm relative to some chosen goal posts..ie high/lows, fibs or percentages (again relative to something). And as I am trying to dechiper the gman it is more like a sequence of points...like retracing X, then pulling back Y then blah is the norm for a bull/bear. Sorry for nit-picking .
  • #800,609
  • May 23, 2013 5:47am May 23, 2013 5:47am
Quoting kuroro001
{quote} To the norm
Where is the norm
  • #800,610
  • May 23, 2013 5:49am May 23, 2013 5:49am
Quoting RsX
{quote} Appreciate the insight and perspective, kuroro. Thank you. But, with setups/patterns I'm using, rarely need much wider than 15pips to know I'm wrong on the trade attempt. It's just technical - I get a pattern break / signal, if it comes back deep into or the other side, I'm wrong on the trade already. No reason to wait for the trade to go twice as much against... I can always reenter on reconfirm of setup, if spiked out once for some reason - it happens at times, naturally. Plus I'm targeting maybe ~110+ with this one, so risk/reward would...
Thanks for the explantion, much appreciated.

About your setup...is the setup cancelled if it reaches your potential SL before the setup occurs?
COT: The precious data ignored
  • #800,611
  • May 23, 2013 5:49am May 23, 2013 5:49am
Quoting kuroro001
{quote} To the norm
and norm means normal or something else ? Mean ? Average?
  • #800,612
  • May 23, 2013 5:51am May 23, 2013 5:51am
Update continues :
http://www.forexfactory.com/showthread.php?p=6702053#post6702053
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #800,613
  • May 23, 2013 5:52am May 23, 2013 5:52am
Quoting piptastic7
{quote} You're asking what norm is...........i'm asking what the meaning of 'breakdown' ?! Going short? breaking through a trendline of some sort ? Why can't people here speak proper English? Or make better sentences?
proper english? sorry, it's not my native language, so you're asking a bit too much from me But you've gotta understand, each trader has his terms/abbreviations related to their methodology and techniques.. cannot thouroughly lengthen and lay out their meaning in each post, too time consuming...

But I'll try to elaborate on the term - "breakdown" = price breaking downwards from a technical level, more often an area - is what I mean. As for trendlines, I don't use T/L-s strictly, I use confluence of several technical measures showing up inside the same tighter area... More specifically - I need to see at least a 5min close under it + a lower low tick under the break bar as confirmation of the break. If it breaks an area and closes under it, but jumps straight back without ticking a LL, it's a suspicious break attempt for me.

so... terms, in summary are: "breakdown", T/L, LL, HH, also use MW and MD when I speak of multiweek and multiday chart perspective, in example... probably a dozen of other things abbreviated ... sorry, can't help that.

The other side - "breakout" - being the opposite (in my lingo) eg upwards break, meaning a close above + confirmation in the form of continuation higher at least a tick above prev bar's high.

Clarified a bit - I hope..
Patience, persistence and probabilities.
  • #800,614
  • May 23, 2013 5:55am May 23, 2013 5:55am
Quoting RsX
{quote} Appreciate the insight and perspective, kuroro. Thank you. But, with setups/patterns I'm using, rarely need much wider than 15pips to know I'm wrong on the trade attempt. It's just technical - I get a pattern break / signal, if it comes back deep into or the other side, I'm wrong on the trade already. No reason to wait for the trade to go twice as much against... I can always reenter on reconfirm of setup, if spiked out once for some reason - it happens at times, naturally. Plus I'm targeting maybe ~110+ with this one, so risk/reward would...
I just wanted to tell you that your SL will most likely be hit. Big Boys should hunt for SL above 1.29 - then I will look for short, not ealier
  • #800,615
  • May 23, 2013 5:58am May 23, 2013 5:58am
I am scalper but i tried to put one trade for long term. I had sell limit order at 1.2900 because it is psycological level and my sell order is executed. What should be take profit? 1.2860?
Love for all; Hatred for none.
  • #800,616
  • May 23, 2013 5:59am May 23, 2013 5:59am
Quoting KillerWhale
{quote} Are you really in new zeeland?
Sure am! Dargaville.
  • #800,617
  • May 23, 2013 6:19am May 23, 2013 6:19am
Morning! Nailed the bounce @ 2825
  • #800,618
  • May 23, 2013 6:24am May 23, 2013 6:24am
Key lvl 1.29, still gathering power....lets see her drop like a rock.
  • #800,619
  • May 23, 2013 6:24am May 23, 2013 6:24am
Quoting aahmad29
I am scalper but i tried to put one trade for long term. I had sell limit order at 1.2900 because it is psycological level and my sell order is executed. What should be take profit? 1.2860?
bad question, brcause you should already know your targets according to mm before you entered, your targets can be found from many different ways, example - if r/r is 1/4 and your sl is 20pip, 1st target 80pip green, this also can be varied, say if you were to pb 1/3 @ 30pip green 10 full pip banked or if lave sl where is was would mean exposure / risk is reduced to 10pip, 2nd target @ 60pip green etc etc

If trade progresses your way, you are left with 1/3 of 1 lot, risk free, then set a 40 pip trailing sl, which is effectively banking / locking 1/3 of 40pips and forget about trade let it run its course, if you wanted to micromanage you could increase you trailing 1pip for every 4 pip movement this means you are banking / locking in another 1/3 of 3 pip = 1pip each time, this means you are banking a little and increasing you trailing, which remember is risk free

sorry i am shit at explaining shit, but this is just 1 example of using good money management to grow your account with minimal risk, there are lots of others
If you are new to Forex? Say Goodbye to your account!!
  • #800,620
  • May 23, 2013 6:24am May 23, 2013 6:24am
This range is getting boring
COT: The precious data ignored
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