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Davit's Confluence Trading

  • #261
  • Edited 3:52am Aug 6, 2013 3:34am | Edited 3:52am
watching GC and my target limit is getting close to trigger.
my EN shorts +900pips lot more to go until 65 currently at 6840

Food for thought 80% of time Forex market is NOT trending instead price is confined in channel.
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In trading, you have to be defensive and aggressive at the same time
  • #262
  • Aug 6, 2013 11:30am Aug 6, 2013 11:30am
progress report
over +1050pips 1/3 target reached
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In trading, you have to be defensive and aggressive at the same time
  • #263
  • Aug 6, 2013 8:49pm Aug 6, 2013 8:49pm
Quoting Davit
progress report over +1050pips 1/3 target reached {image}
good move :-).. Im not trading at all this week. Things to do..
Swing with the tide, Surf with the waves!
  • #264
  • Aug 6, 2013 9:39pm Aug 6, 2013 9:39pm
Quoting Davit
progress report over +1050pips 1/3 target reached {image}

Hey Davit,

great results brother. Not thought of closing and switching more to Ecad? Looks like a safer bet right now and has not really fallen yet. Milk thing got me spooked on kiwi.
Money never sleeps...
  • #265
  • Edited 11:31pm Aug 6, 2013 11:13pm | Edited 11:31pm
Quoting inpatient
{quote} Hey Davit, great results brother. Not thought of closing and switching more to Ecad? Looks like a safer bet right now and has not really fallen yet. Milk thing got me spooked on kiwi.

Hi Steph
Ecad has room to go up.I closed my shorts at 3750 and it went right back up to 38.Its building a base for springing up same with UC in fact EC just reacts to UC
I have lots of limit shorts on UC 500 and above
About Kiwi
If milk crises was significant we would of seen the reaction already.In fact price came down and closed the gap and some more.
I just have to stick with appropriate time frame for price to do its thing.Average mini cycle 7-14days.
Price dropped already 200pips in 1 day so I must give her more time to reach target.If I close now and price hits my TP in 5days I won't forgive myself.
I moved my stops to some profit level so all my EN trades are free now.I just need to relax and wait.Right now drinking wine and watching "Breaking Bad" season 5
I learned 1 important lesson(expensive at that).I rather wait until PA triggers my limits then enter early.I am careful where I place them.For example my GC is at 1.60 and price is now 1.59. I am sure one could say what is 100pips but it adds up quick. Price wants to go to Round Numbers.Its like chick magnet.
waiting is trading as well.Think of hunter waiting hours to shoot a deer.Without waiting no deer.
You still have EA shorts open?That monster is giving me jolts. Its like go 1.50 and finally that RN and turn around for 500pips.Looking at that badly.
Anyway brother keep posting.Love your inputs.

Steph check this indi. Bollinger Band with nice filled zone. I use it to measure volatility plus it comes with 20EMA (default but you can change it if you want)
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In trading, you have to be defensive and aggressive at the same time
  • #266
  • Aug 6, 2013 11:27pm Aug 6, 2013 11:27pm
Quoting Davit
{quote} Hi Steph Ecad has room to go up.I closed my shorts at 3750 and it went right back up to 38.Its building a base for springing up same with UC in fact EC just reacts to UC I have lots of limit shorts on UC 500 and above About Kiwi If milk crises was significant we would of seen the reaction already.In fact price came down and closed the gap and some more. I just have to stick with appropriate time frame for price to do its thing.Average mini cycle 7-14days. Price dropped already 200pips in 1 day so I must give her more time to reach target.If...

Used my profits from oil to exit at a loss on 3 of the 5 EA's. Lost my nerve with so many so now i just have the 2 that i can afford to hold for the rebound.

Im stuck in it until then so just got to be patient. Same as you.

I have 1 EU short too and 1 EG.

Just waiting for some euro weakness which seems well over due. Good luck bro, 10% in August still to do and i think this one might go to the wire. Hope MM plays the game for us.
Money never sleeps...
  • #267
  • Aug 6, 2013 11:39pm Aug 6, 2013 11:39pm
Quoting inpatient
{quote} Used my profits from oil to exit at a loss on 3 of the 5 EA's. Lost my nerve with so many so now i just have the 2 that i can afford to hold for the rebound. Im stuck in it until then so just got to be patient. Same as you. I have 1 EU short too and 1 EG. Just waiting for some euro weakness which seems well over due. Good luck bro, 10% in August still to do and i think this one might go to the wire. Hope MM plays the game for us.
I am certain we can only get better by every mistake we make.Time is on our side.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #268
  • Edited 11:22am Aug 7, 2013 10:33am | Edited 11:22am
closed all my EN shorts at 67 both my accounts total +1800 pips (shortly after it broke 67 Can't take 100% of the move I'll be happy with 70-80%)
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In trading, you have to be defensive and aggressive at the same time
  • #269
  • Aug 7, 2013 10:37am Aug 7, 2013 10:37am
all my GC shorts are triggered and 2 EC shorts as well
In trading, you have to be defensive and aggressive at the same time
  • #270
  • Aug 7, 2013 1:24pm Aug 7, 2013 1:24pm
Quoting Davit
closed all my EN shorts at 67 both my accounts total +1800 pips (shortly after it broke 67 Can't take 100% of the move I'll be happy with 70-80%) {image} {image}
Nice Davit...way to go.

Check this out. I am really liking the idea of the median grid and also zooming out to get a nice big picture of price action. This is just in retrospect, no trade...but look at the confluence between this median grid and, the quad divisions and some fib levels. What is interesting is the quad 3 and quad 4 division and its alignment with both the 78.6 fib retrace as well as the 161.8 fib expansion...I have pictured them both below.

This is the USD/JPY 1 hour chart

Thanks again Davit
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  • #271
  • Aug 7, 2013 1:31pm Aug 7, 2013 1:31pm
Quoting bryn077
{quote} Nice Davit...way to go. Check this out. I am really liking the idea of the median grid and also zooming out to get a nice big picture of price action. This is just in retrospect, no trade...but look at the confluence between this median grid and, the quad divisions and some fib levels. What is interesting is the quad 3 and quad 4 division and its alignment with both the 78.6 fib retrace as well as the 161.8 fib expansion...I have pictured them both below. This is the USD/JPY 1 hour chart Thanks again Davit {image} {image} {image}

Thanks Bryno
I don't trade yen pairs but looks great.
You are getting hang of it.
You could also use stops above swing high or low if you prefer.I use fibs as well for confluence.
In trading, you have to be defensive and aggressive at the same time
  • #272
  • Aug 8, 2013 11:57am Aug 8, 2013 11:57am
Hi guys woke up this morning in money!
+130pips on EC and +200pips on GC
this is from my 2nd account. Same orders are still running on my 1st account with bigger lots.
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In trading, you have to be defensive and aggressive at the same time
  • #273
  • Aug 8, 2013 12:23pm Aug 8, 2013 12:23pm
Quoting Davit
Hi guys woke up this morning in money! +130pips on EC and +200pips on GC this is from my 2nd account. Same orders are still running on my 1st account with bigger lots. {image} {image}

Niiiiiiiiiiice...

Just missed a fill by the pip on a UJ buy off my lower quad line, also a good demand level ( i know you don't trade the yen ). Also took a sell limit short on the AU off some fib levels. Lovely fill, bounced right into profit for a few pips but is now up towards break even...I think the pair has more 'up' to go so I am really looking for a quick reaction back down to my median (45 pips or so)...then perhaps look for a bigger sell if price makes it back up to my upper quad line.

these charts a bit busy, may be hard to read...working charts. Also just single entries for now...though I've marked off my 'zones' with the green rectangles.

Any thoughts or comments from your end would be appreciated, Davit...if you can read my charts...Lol

Thank you,
Bryan
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  • #274
  • Aug 8, 2013 12:55pm Aug 8, 2013 12:55pm
Quoting bryn077
{quote} Niiiiiiiiiiice... Just missed a fill by the pip on a UJ buy off my lower quad line, also a good demand level ( i know you don't trade the yen ). Also took a sell limit short on the AU off some fib levels. Lovely fill, bounced right into profit for a few pips but is now up towards break even...I think the pair has more 'up' to go so I am really looking for a quick reaction back down to my median (45 pips or so)...then perhaps look for a bigger sell if price makes it back up to my upper quad line. these charts a bit busy, may be...

In theory you are correct buying short term but I think Aussie is heading south again and this time may go lot deeper.
I don't trade pairs short with substantial negative swap therefore I will patiently wait for better buying opportunity.
Important to realize that you and I are not scalpers.I look to gain from a move at least 100pips.If less then that its not my risk reward ratio and look for other pairs.You have to get away from scalping mentality which majority of traders try and fail.
As in the book he calls it noise and it is random noise.We have to step back and look at the bigger picture and formalize where and when to enter.
I know you are on demo but treat it as real money otherwise you may start placing orders unnecessarily.
Always ask yourself "Do I have an edge?" if you can't convincingly confirm by fundamentals,technicals then skip it.
With so many pairs I am sure 1 or 2 will fit the bill.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #275
  • Edited 7:41am Aug 9, 2013 7:10am | Edited 7:41am
closed all my GC shorts
+302 pips total +502pips on GC last 302 were larger lots
Unemployment News release at 8.30 today so not gambling.
Edit. I am glad I closed my shorts since Unemployment News was negative.

Guys always check the news.This should be routine like brushing teeth.
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In trading, you have to be defensive and aggressive at the same time
  • #276
  • Aug 9, 2013 7:51am Aug 9, 2013 7:51am
Quoting Davit
closed all my GC shorts +302 pips total +502pips on GC last 302 were larger lots Unemployment News release at 8.30 today so not gambling. Edit. I am glad I closed my shorts since Unemployment News was negative. Guys always check the news.This should be routine like brushing teeth. {image}

Very Nice...I was actually watching that trade unfold, it fell right through your sell limits and into profit, beautiful. Also got your comments from yesterday...understood, thank you.

I have a sell limit set up on the AU...a few ticks ahead of .92. and just ahead of the 786 fib. See chart.

Davit...how do you handle trades going into the weekend? I do see why you pulled the GC trade, since in nice profit, upcoming news event, etc. But generally speaking. Will you hold trades over a weekend ? And will leave unfilled orders in over the weekend?

This AU is a 1 hour chart...'sell limit' at .918
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  • #277
  • Aug 9, 2013 9:30am Aug 9, 2013 9:30am
Nice Trades there DAvit. Mind sharing your template ??
  • #278
  • Aug 9, 2013 11:26am Aug 9, 2013 11:26am
Quoting Davit
closed all my GC shorts +302 pips total +502pips on GC last 302 were larger lots Unemployment News release at 8.30 today so not gambling. Edit. I am glad I closed my shorts since Unemployment News was negative. Guys always check the news.This should be routine like brushing teeth. {image}

Hey davit, great results again. Its been a great day all around. My EA and EC shorts closed themselves over night. I have 2 EU shorts in good green and oil has triggered 3 of my entries (hoping for more as she climbs back up).

Closing in on a solid month I hope. Dollar strength coming soon I think and will figure in my next moves for sure.

Lets stay smart on these entries bro,
Money never sleeps...
  • #279
  • Aug 9, 2013 11:28am Aug 9, 2013 11:28am
Quoting bryn077
{quote} Very Nice...I was actually watching that trade unfold, it fell right through your sell limits and into profit, beautiful. Also got your comments from yesterday...understood, thank you. I have a sell limit set up on the AU...a few ticks ahead of .92. and just ahead of the 786 fib. See chart. Davit...how do you handle trades going into the weekend? I do see why you pulled the GC trade, since in nice profit, upcoming news event, etc. But generally speaking. Will you hold trades over a weekend ? And will leave unfilled orders in over the weekend?...

Hi bryn,

sorry for jumping in but if your entries nare good when you set up the order then there is no real reason to worry about the weekend and whether you should or shouldn't hold trades or entries.

News items can wipe out your profit but usually this is more a cue to exit a profitable trade than to decide against an entry.

Hope this helps bro
Money never sleeps...
  • #280
  • Aug 9, 2013 12:40pm Aug 9, 2013 12:40pm
Quoting inpatient
{quote} Hi bryn, sorry for jumping in but if your entries nare good when you set up the order then there is no real reason to worry about the weekend and whether you should or shouldn't hold trades or entries. News items can wipe out your profit but usually this is more a cue to exit a profitable trade than to decide against an entry. Hope this helps bro

Hi Bryno
To add to what Stephan said if you looked PA on GC you would of seen weird long sideways action on two key areas and that raised a flag that price could go up since Bears and Bulls are equal.Luckily Bear pressure overwhelmed.
I exited beautifully in my opinion at 8am before major news.Forex can become extremely volatile.Suppose the News was horrible not just bad and I would of wiped out all my profits and to me that is terrible trading.To earn money then throw it away.
I made 500pips on GC in 2days not bad at all.Most traders would be happy with 20pips a day.Anyway keep trading and getting the feel where the market is heading.
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In trading, you have to be defensive and aggressive at the same time
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