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  • #181
  • Jul 24, 2013 10:49am Jul 24, 2013 10:49am
If the price continues down Im going to move the limit to 1.5250...
Attached Image (click to enlarge)
Click to Enlarge Name: David way limits GBP.png Size: 140 KB
Swing with the tide, Surf with the waves!
  • #182
  • Jul 24, 2013 10:50am Jul 24, 2013 10:50am
Quoting FxRetro
If the price continues down Im going to move the limit to 1.5250... {image}

sorry, to 1.52000 :-p
Swing with the tide, Surf with the waves!
  • #183
  • Jul 24, 2013 10:55am Jul 24, 2013 10:55am
Quoting FxRetro
{quote} I understand what you meant. Long ago I did like this: only on Aussi; In a range of 300 pips I divided in quarters (0.0000,0.0025,0.0050,0.0100) then I waited the 4h to go one direction. On 30 min I looked for reversals and then I placed 3 stop orders, depending where was the price, for example at 0.0000 I placed 1 order for 25 pips and another one for 10 pips only. The 3 one used to be placed 10 pips before the next level of 0.0025. So withing a range of 25 pips I could get 45 pips as profit. Your way is the opposite because it's with limit...
Its little more complex then that.Read the book please because the essence is there.
In trading, you have to be defensive and aggressive at the same time
  • #184
  • Jul 24, 2013 10:57am Jul 24, 2013 10:57am
Quoting FxRetro
If the price continues down Im going to move the limit to 1.5250... {image}

No if you miss the boat then don't chase it.Your limits should of been placed at 53 and above for short.Ideally at 61.8fib from high swing to low
Look for EN for opportunity.Its extremely overbought...
In trading, you have to be defensive and aggressive at the same time
  • #185
  • Jul 24, 2013 10:59am Jul 24, 2013 10:59am
long in Cad! Let's see if tonight look good or not :-p..
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Click to Enlarge Name: long Cad.png Size: 135 KB
Swing with the tide, Surf with the waves!
  • #186
  • Jul 24, 2013 11:01am Jul 24, 2013 11:01am
David, do you base your technical analyze on 4H or Daily charts?
Swing with the tide, Surf with the waves!
  • #187
  • Jul 24, 2013 11:04am Jul 24, 2013 11:04am
Quoting FxRetro
David, do you base your technical analyze on 4H or Daily charts?

both but weekly as well.Weekly is important because it gives you space to see if you are wrong on daily perhaps you can recover and be in profit on weekly.
Use this indi.It gives you quick update on trend 1h h4 daily weekly monthly.

Price dropped 40pips in 15 min on EN
Attached Image
Attached File(s)
File Type: mq4 jma_info_MTFJaimo-JMA.mq4   17 KB | 338 downloads
In trading, you have to be defensive and aggressive at the same time
  • #188
  • Jul 24, 2013 11:05am Jul 24, 2013 11:05am
Quoting Davit
{quote} No if you miss the boat then don't chase it.Your limits should of been placed at 53 and above for short.Ideally at 61.8fib from high swing to low Look for EN for opportunity.Its extremely overbought...

Ok, got you!... let me take a look. I understand now, Let's say that you think the opposite way of what the market is doing, then you look for your levels to place your limits, that's why you might be on red at the beginning and later on green ... Ok.. let me do it.
Swing with the tide, Surf with the waves!
  • #189
  • Jul 24, 2013 11:06am Jul 24, 2013 11:06am
Quoting Davit
{quote} both but weekly as well.Weekly is important because it gives you space to see if you are wrong on daily perhaps you can recover and be in profit on weekly. Use this indi.It gives you quick update on trend 1h h4 daily weekly monthly. {file}

Hey, :-)).. thanks a a lot!!
Swing with the tide, Surf with the waves!
  • #190
  • Jul 24, 2013 11:11am Jul 24, 2013 11:11am
When I started learning about trading I was so focused on intra-day. I got to lost my confidence because those algorithm programs from the institutions do the dirty intra-day job, taking our money from such way of trading. Im now only checking opportunities from 4H, Daily and Weekly as you say. It is much better. Also to do as the crocodile :-)..
Swing with the tide, Surf with the waves!
  • #191
  • Jul 24, 2013 11:15am Jul 24, 2013 11:15am
Quoting FxRetro
{quote} Ok, got you!... let me take a look. I understand now, Let's say that you think the opposite way of what the market is doing, then you look for your levels to place your limits, that's why you might be on red at the beginning and later on green ... Ok.. let me do it.
Key is lot size relative to account.You must reduce your lots so it can accommodate 200-500pips drawdown without panicking but my target usually is over 1k pips and over so strategy is mileage compounded.
Remember I go in increments so if fundies change then I exit with minimal damage as compare to conventional way of doing.
Read the book because its important you understand what median line is.
In trading, you have to be defensive and aggressive at the same time
  • #192
  • Edited 11:31am Jul 24, 2013 11:20am | Edited 11:31am
Key money making pairs
CAD I only buy the CAD never SELL unless below 100
Key numbers
Short EC at 37 and above (personal my limits start at 3675)
Short UC 450 and above
80% of my July profits were on CAD all Shorting.I don't trade EU but use it as a compass.
Kiwi.Aussie only good for longs at these levels.To me they are risky to short.

Conventional way of trading drains the account.If you place SL at 30pips you are almost guaranteed to be stopped out.Interesting fact is most of those stopped out were profitable trades but trader did not give enough space or room to overcome market noise.
That is why I don't use SL but monitor trades and decide if my fundamental idea of the trade has changed or not.If not changed then I stay in.If changed then I take the loss.Important difference is I make that discretion instead of set Stop Loss at certain number.
In trading, you have to be defensive and aggressive at the same time
  • #193
  • Jul 24, 2013 11:45pm Jul 24, 2013 11:45pm
Closed all EN shorts
Both accounts 140pips each 280pips gain in 24hrs
Important news release tonight on Euro so taking my profits now and getting ready to hammer again
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurnzdh12.png Size: 44 KB
Click to Enlarge Name: eurnzd.h1.png Size: 46 KB
In trading, you have to be defensive and aggressive at the same time
  • #194
  • Jul 25, 2013 9:14am Jul 25, 2013 9:14am
Quoting Davit
{quote} FXRetro If I may suggest to add what you are doing some fundamental,news data as well.I go daily every related news and get a feel what is coming up. Markets react to News and then that reflect on the chart.To me charts are footprints of news,mass greed and fear psychosis in concert with Elliot Wave and Harmonics. I like your approach but you need to maximize your gains.I place limit orders where I know if triggered I'll be in great position usually on news spikes.I can't tell you how many times I woke up from sleep already in profit. I...

Hi Davit...I was browsing FF and came across your thread, and noticed your recent posts. I too, like to trade with limit orders...I am curious about this book, can you suggest certain chapters that you found most valuable to your trading? Or should I just read the whole thing?

Thanks a lot...and nice trades.
Bryan
  • #195
  • Jul 25, 2013 10:34am Jul 25, 2013 10:34am
Quoting bryn077
{quote} Hi Davit...I was browsing FF and came across your thread, and noticed your recent posts. I too, like to trade with limit orders...I am curious about this book, can you suggest certain chapters that you found most valuable to your trading? Or should I just read the whole thing? Thanks a lot...and nice trades. Bryan

Everything is subjective my friend.What I found redundant you may find brilliant.It is part of the process that you filter things yourself because that way weather consciously or unconsciously you are shaping your own trading style.
In trading, you have to be defensive and aggressive at the same time
  • #196
  • Jul 25, 2013 10:46am Jul 25, 2013 10:46am
Closed last night's Cable shorts before News.Trades were posted on Cable thread
+103 pips gain combine with +280 on EN I had a great 24hr trading netting +383 pips
My account is officially over 20% this month. I am just thrilled.My goal is to be consistent and maintain 8-10% a month
Modest 5k account in 3yrs at 9% is 112k
Shooting for higher gain but once reaching 100k no stopping me.
You heard traders say "you can't have a fix % goal" That is nonsense without goals you become lazy and complacent and not likely to be very motivated and driven.
Goals make you work harder,smarter and challenge is good for the soul.

Ask and it will be given to you; seek and you will find; knock and the door will be opened to you.
Mathew

That line alone covers entire books on motivation.God,spirituality,Fibonacci,Andrews fork.trading,patience,goals,love,life,golden rule,universe etc.
It is to me the most motivational line which is far deeper then it appears on casual reading.
In trading, you have to be defensive and aggressive at the same time
  • #197
  • Jul 25, 2013 2:26pm Jul 25, 2013 2:26pm
Quoting Davit
{quote} Everything is subjective my friend.What I found redundant you may find brilliant.It is part of the process that you filter things yourself because that way weather consciously or unconsciously you are shaping your own trading style.
That's cool, thanks...I will check it out. I saw your website, real nice paintings. Perhaps I'll post a chart or two and if you have the time can comment on them? Just on limit order placement.

And, only at your convenience.

Thanks again,
Bryan
  • #198
  • Jul 26, 2013 7:06am Jul 26, 2013 7:06am
Quoting bryn077
{quote} That's cool, thanks...I will check it out. I saw your website, real nice paintings. Perhaps I'll post a chart or two and if you have the time can comment on them? Just on limit order placement. And, only at your convenience. Thanks again, Bryan

Bryno
Don't even ask please just upload the chart.This is a place to exchange ideas and grow.Thanks for checking my works.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #199
  • Jul 27, 2013 11:15am Jul 27, 2013 11:15am
Looking forward for August. My july is over 20% gain so looking to get the momentum to next month

Goal is to get over 100k in 3yrs with 5k account with low leverage and small lots.

What is going on with my positions.A lot actually.I went back to my favorite currency Canadian dollar.
Shorting heavy on EC from 3640-60 now with 6positions however I would not mind for PA to go high to trigger my bigger shorts from 37-3750
Funny that my mind thinks totally different them most.I actually welcome being in the red at least temporarily.

I may change TP to 3580 instead of 36even now.
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad.h4.png Size: 45 KB
In trading, you have to be defensive and aggressive at the same time
  • #200
  • Jul 28, 2013 8:15am Jul 28, 2013 8:15am
Quoting Davit
{quote} Bryno Don't even ask please just upload the chart.This is a place to exchange ideas and grow.Thanks for checking my works. Regards

Hey Davit...Cool. Also saw you went to Otis. I went to SCI_Arc.

Here was a 'buy limit' I placed on Friday on the E/G...though this one was not filled by a pip or two, it was a good setup.

I usually look for set ups with the trend but if I get a nice rejection off my weekly s/r I will look for an entry...like with this one. The dark blue lines indicate weekly s/r taken from the OHLC of recent weekly bars...( I picked this up from the 60minuteman, fantastic trader)

So here, there was the nice pinbar off support followed by two nice bullish bars...this was my confirmation to pop in a buy limit pretty much at the pivot on this one...and look for price to quickly retrace back into the limit order ( I call this the 'slide bar' ), fill it, and then continue up to the next s/r level. This is a 30 min chart.

So, that is pretty much just how I look at charts. Perhaps this week I will attempt to call out some trades that are a bit further out, like 4 hour charts...for you to critique if you don't mind. And if you post some more trade ideas I'll study them.

I love to trade with limits and just need to finesse my skills.

http://clip2net.com/s/5t0lKC
http://clip2net.com/s/5t0rfu

Thank you,
Bryan
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