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Structure of a trade

  • #21
  • Jul 5, 2013 7:57am Jul 5, 2013 7:57am
Please keep posting Emerald. Great reading.
  • #22
  • Jul 6, 2013 8:28pm Jul 6, 2013 8:28pm
Thanks Dan.. I'll try when obvious opportunities show. FF doesn't have many OF traders posting in it anymore
  • #23
  • Jul 8, 2013 10:16pm Jul 8, 2013 10:16pm
Here's a chart for Eur/Aud I made based on current order info. Red are areas of sell stops, green are buys. Might trade if it goes to the extremes and A/U & E/U match up. Until then, just watching how it reacts at these levels.
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  • #24
  • Jul 9, 2013 9:20pm Jul 9, 2013 9:20pm
Later on yesterday, E/A increased probability of tripping it's sell stops on confluence in A/U (was forming a base @ .9050) and E/U (running in to sells ahead of 1.29) Here's the current Eur/Aud 2hr chart attached with the sell orders marked from yesterday.
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  • #25
  • Jul 9, 2013 9:31pm Jul 9, 2013 9:31pm
Had a good day so I've decided to ramble about this trade. I hope this helps some of the new guys searching for answers on how the heck to put on trades or how simple common sense trading can be. I entered Eur/Aud short using simple technical patterns. In this case, breaks of supports to enter trades as I know the market is short Aud (rate cuts recently, majority favor rate cut again next month) so new lows would trip those long's sell stops in those areas, boosting me in to profit quickly. That's the point of all this, right? #1 was the break of the intraday low, #2 was a new weekly low & break of long trendline, #3 was new intraday low off a dead-cat bounce.
Disappointed that I had to settle for a higher spot to close out. I should have taken profit right above 1.39 but wanted a break of that round number and didn't get it before worse-than-forecasted Chinese data (bad for Aud) was just released.
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  • #26
  • Jul 10, 2013 9:15am Jul 10, 2013 9:15am
Are you on DS's forum? I think I remember seeing your name back before he upgraded the forum, but I haven't been back since then. What do you think of his news feed?
  • #27
  • Jul 10, 2013 4:30pm Jul 10, 2013 4:30pm
I havent posted as much as I should since that upgrade last year. That site's news is taken from many accurate sources and insiders so I'd use it. I haven't used that news in this thread though. Just what links I post.
  • #28
  • Edited 7:11pm Jul 10, 2013 6:28pm | Edited 7:11pm
Quoting EmeraldEyes
Later on yesterday, E/A increased probability of tripping it's sell stops on confluence in A/U (was forming a base @ .9050) and E/U (running in to sells ahead of 1.29) Here's the current Eur/Aud 2hr chart attached with the sell orders marked from yesterday. {image}
E/A ran right up to those buy stops upon E/U off of Ben's Q&A? Idk, its early in the day for me. Just shorted E/A @ 1.42 w/ stop above today's high of 1.4230.

EDIT: Just made a new high and got stopped out. Hopefully another (higher) opportunity comes to sell again.
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  • #29
  • Jul 10, 2013 9:34pm Jul 10, 2013 9:34pm
Gotta love getting stopped out at the pip. Its like someone bigger knows what I know about what they know about.
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  • #30
  • Jul 11, 2013 8:58am Jul 11, 2013 8:58am
Your trading is right on, Emerald. Do you have a good handle on the EUR/AUD pair?
  • #31
  • Jul 11, 2013 2:57pm Jul 11, 2013 2:57pm
Hi Emerald,
When you scale into your trades this way do you use the same Predetermined SL for each entry and increase position size on each subsequent entry (with a preset risk amount)?
Cheers
Dave
  • #32
  • Jul 11, 2013 6:45pm Jul 11, 2013 6:45pm
Quoting Magic Trader
Your trading is right on, Emerald. Do you have a good handle on the EUR/AUD pair?
Not really, it stuck out to be because of the potential for a one-way move depending on which way it went. I was watching A/U and E/U the whole time for 'confluence' bc E/U and A/U have wayy more order volume than E/A. Or is E/A one of those pairs that are calculated? Idk. I'm pleased with this pair's movements though. A lot of retail traders got their stops taken out. Brokers had a great week. lol

Quoting TradingDrunk
Hi Emerald, When you scale into your trades this way do you use the same Predetermined SL for each entry and increase position size on each subsequent entry (with a preset risk amount)? Cheers Dave
Good question, Dave. Yes, I do that sometimes. I think you'll see that in a few of my trades but it depends on whats happening. What I prefer is entering more positions when the probabilities of a move increase, but not necessarily increase lot size. I have increased it on occasion, but I'm increasing my risk on an already profitable position. It all comes down to what is comfortable I guess.
No preset risk amount, the trading style that suits me doesn't include that. I know when I'm over-leveraged(my weakness) so I just (try to) stay away from that account volatility. Oh, and try not to lose any $$.
  • #33
  • Jul 14, 2013 10:55am Jul 14, 2013 10:55am
Well that was a great trade. Let's see what the new week holds. Good luck everyone.
  • #34
  • Jul 17, 2013 9:55pm Jul 17, 2013 9:55pm
Potential Usd/Chf long trade
Entry @ .9455
SL @ .9398
TP @ .9500
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Click to Enlarge Name: uc.png Size: 27 KB
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  • #35
  • Jul 18, 2013 8:44pm Jul 18, 2013 8:44pm
Quoting EmeraldEyes
Potential Usd/Chf long trade Entry @ .9455 SL @ .9398 TP @ .9500 {image} {image}
Trade died at break-even. Poor timing with the market only moving on the Fed Chairman's words. I noticed retailer breakout traders longing this pair during Bernanke's questioning today above my entry, adding stops under the intraday lows & down to .9400. My guess is that the pair will fall to .9400 from here.
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  • #36
  • Jul 19, 2013 8:23pm Jul 19, 2013 8:23pm
Quoting EmeraldEyes
{quote} Trade died at break-even. Poor timing with the market only moving on the Fed Chairman's words. I noticed retailer breakout traders longing this pair during Bernanke's questioning today above my entry, adding stops under the intraday lows & down to .9400. My guess is that the pair will fall to .9400 from here. {image} {image}
Ha
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  • #37
  • Last Post: Jul 22, 2013 8:14am Jul 22, 2013 8:14am
That would have been a great place to fade, Emerald.
You got out at BE. Still a good trade IMO.
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