- #1,703
- Edited 11:33am Jul 17, 2013 11:12am | Edited 11:33am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
{quote} Hi PT, since I fear, that here in Germany we will get the transaction tax, trading on small TF may soon get a disaster. So I try more and more to switch to longer TF trades. Additionally to my daily trading I actively such for opportunities, to nail down the really big swings. Over the last year I rode UJ up, nearly from the bottom a´nd covered around 101, when I remember correctly. I have posted the trades in the Shangr-La threads. Such rades are really easy and stress free money at the end. Biggest hurdle is: a) at the beginning of the...
What I prefer to do is take partial profits (scale out) at key levels and then scale in with more on counter moves. This is where EW counting can come in very handy and so it is an area I need to develop further. For now, until I arrive at my level of comfort and confidence with EW, I use large time frame PA, Supply/Demand and simple/exponential moving averages. The moving averages and supply/demand together are used to gauge where a counter move is more likely to reach. PA is used in two different senses. One is cyclical PA as in harmonic and other patterns and the other is in candlestick PA similar to VSA. Fibo levels also are used in order to gauge certain levels where they may be in confluence with other indications and they also allow me to gauge the prevailing market sentiment in a trend.
So far the above has worked almost flawlessly for me, but I still need to improve my entries as I find myself entering too early sometimes and I have to endure underwater positions for a good portion of the swing. Because I use very conservative money management, it is not a big issue as in the end I still end up highly profitable. However, if I can find a way to increase profitability via entering at the right times and able to leverage a bit more of my capital, then I would achieve the same number of pips, but increase my return on capital
I guess it's a work in progress.
Those who say it cannot be done should not interrupt those who are doing it
- #1,704
- Jul 17, 2013 11:13am Jul 17, 2013 11:13am
- Joined Aug 2011 | Status: Trader | 4,005 Posts
Maybe, it is best for the Bulls? What do you think?
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
- #1,705
- Jul 17, 2013 11:35am Jul 17, 2013 11:35am
- Joined Jun 2010 | Status: zero | 20,603 Posts
{quote}, but I still need to improve my entries as I find myself entering too early sometimes and I have to endure underwater positions for a good portion of the swing. Because I use very conservative money management, it is not a big issue as in the end I still end up highly profitable. However, if I can find a way to increase profitability via entering at the right times and able to leverage a bit more of my capital, then I would achieve the same number of pips, but increase my return on capital
same here - see yesterday
Have to play around with more steps of scaling in
- #1,707
- Jul 17, 2013 11:52am Jul 17, 2013 11:52am
- Joined Aug 2011 | Status: Trader | 4,005 Posts
{quote} Well, if long, I would set SL a bit below 3040 if short,, then short either the break of 3040, or a failed test of 3123
Talking about it since Friday.
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
- #1,712
- Jul 17, 2013 12:09pm Jul 17, 2013 12:09pm
- Joined Aug 2011 | Status: Trader | 4,005 Posts
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
- #1,713
- Jul 17, 2013 12:20pm Jul 17, 2013 12:20pm
- Joined Aug 2011 | Status: Trader | 4,005 Posts
Forexcube, I'm impressed by your profile. 
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
- #1,714
- Jul 17, 2013 12:41pm Jul 17, 2013 12:41pm
- Joined Nov 2009 | Status: Trader | 27,245 Posts
Forexcube, I'm impressed by your profile.
Thank you godim for your kindly words!
I think we all are at infinitus' marvellous thread for interchanging our sentiments.
Infinitus is an extremely experienced & dedicated trader. I like him very much!
FXcube
- #1,715
- Jul 17, 2013 1:08pm Jul 17, 2013 1:08pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
The US Beige Book has been released. All US economic indicators are solid and looking good going forward especially in housing.
Employment is good but there is hesitation in some sectors to produce full time employment. It seems business don't want long term commitments. This could be a sticking point for the unemployment rate. Regardless, it's a great report card for the US economy, but not necessarily for Benny.
Anyway, if it interests you to read the details, here is a copy.
Employment is good but there is hesitation in some sectors to produce full time employment. It seems business don't want long term commitments. This could be a sticking point for the unemployment rate. Regardless, it's a great report card for the US economy, but not necessarily for Benny.
Anyway, if it interests you to read the details, here is a copy.
Those who say it cannot be done should not interrupt those who are doing it
- #1,719
- Jul 17, 2013 2:27pm Jul 17, 2013 2:27pm
- Joined Jun 2010 | Status: zero | 20,603 Posts
Wow, friends, I am a bit overwhelmed now with all the support and nice words over the last two days, which reached me via FF or private mail.
I do not know what to say
When the bullets starts to fly, it is good to know, that true friends are nearby to give a helping hand and cover your back. Many thanks for that all. I do appreciate that very much.
You all make the threads in FF worthwhile. Since we all do spent a vast amount of our precious time here, I value all of your efforts here in FF very high. Inside this community, working constructively together with various people, various minds, various nationalities, not only to reap the rewards Forex offers us, but also to gain friendship, whether kind of virtually or in real life, makes this community a great place.
When I will leave this place sometime in the future, I can look back and say, that I learned a lot and gained a lot from people, freely contributing here. Traders helping traders. Let us defend this spirit. I hope, that I am able to give some of the virtues back to others, which were given me in my time here.
Thanks again to all of you. I enjoy you and your efforts very much.
Friendly,
Markus
I do not know what to say
When the bullets starts to fly, it is good to know, that true friends are nearby to give a helping hand and cover your back. Many thanks for that all. I do appreciate that very much.
You all make the threads in FF worthwhile. Since we all do spent a vast amount of our precious time here, I value all of your efforts here in FF very high. Inside this community, working constructively together with various people, various minds, various nationalities, not only to reap the rewards Forex offers us, but also to gain friendship, whether kind of virtually or in real life, makes this community a great place.
When I will leave this place sometime in the future, I can look back and say, that I learned a lot and gained a lot from people, freely contributing here. Traders helping traders. Let us defend this spirit. I hope, that I am able to give some of the virtues back to others, which were given me in my time here.
Thanks again to all of you. I enjoy you and your efforts very much.
Friendly,
Markus
- #1,720
- Jul 17, 2013 2:40pm Jul 17, 2013 2:40pm
- Joined Jun 2010 | Status: zero | 20,603 Posts
Hi Godim,
I liked your question regarding the "vaudeville" in the other thread very much
And I liked it, that you noticed something over there: have nowhere seen the green pips after the fact this evening.
Better times ahead?
At least, for the time it lasts......
I liked your question regarding the "vaudeville" in the other thread very much
And I liked it, that you noticed something over there: have nowhere seen the green pips after the fact this evening.
Better times ahead?
At least, for the time it lasts......