EURUSD: put two shorts...lets see how it goes.
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- #60,025
- Sep 25, 2013 4:28am Sep 25, 2013 4:28am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #60,026
- Edited 4:42am Sep 25, 2013 4:32am | Edited 4:42am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #60,028
- Sep 25, 2013 4:41am Sep 25, 2013 4:41am
Only very limited trading from me this morning as monitor sitting was beyond me. One UJ short and one GJ short trade each 10 pipppers plus one early badly timed UJ short trade which I decided to exit as I wanted to perfect the entry point. Practice is important and whilst I could have left it and simply eneterred a second position at the correct point I like a clean sheet even at the cost of a small loss. So less than 20 pips in total but in about one hour so OK. As a mental exercise I reviewed what I could have done in UJ and how three dragons, support and resistance and volumes interact to give us the clues we need (especially for thicko's like me). There are plenty of other clues available. Where fibo levels start to bunch up is always a likely S&R area. A good exercise is to draw in all fibos for the different timeframes then delete any indivdual fibos that are not grouped or with other S&R levels. Surprising how often they will be bunched. All this is covered in other threads but is pertyinent to the fibo squabble from earlier. Fibs are important so if not in your arsenal then go read. Back to this thread and Volume and S&R levels... The key I think is to watch for higher volume THEN WATCH WHAT PRICE DOES AFTER THAT. This is especially true if price has been ranging, but it must not be used in isolation, it must be used in conjunction with the PA, ie the overall trend! Anyway here is my morning scribble. The only one I took is highlighted in yellow. The next hour will hopefully yield some more sitters...
Islander - thanks for alarm, will play with it outside trade hours.
Islander - thanks for alarm, will play with it outside trade hours.
Katte, kabuto no o wo shime yo. Size doesn't matter, leverage is the killer
- #60,031
- Sep 25, 2013 5:03am Sep 25, 2013 5:03am
- Joined Mar 2013 | Status: In the learning phase.. | 1,377 Posts
Go read this fellas.. http://en.wikipedia.org/wiki/Value_at_risk Sonic
I like to keep the things simple
Whatever is obvious is obviously wrong!"
- #60,032
- Sep 25, 2013 5:04am Sep 25, 2013 5:04am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #60,033
- Sep 25, 2013 5:05am Sep 25, 2013 5:05am
- | Commercial User | Joined Mar 2008 | 9,071 Posts
{quote} Too unintelligible for me
Well.. the choice is urs..
Sonic
- #60,034
- Sep 25, 2013 5:09am Sep 25, 2013 5:09am
- Joined Mar 2013 | Status: In the learning phase.. | 1,377 Posts
{quote} Well.. the choice is urs.. {image} Sonic
then maybe there is possible that some downtrend will begin soon.. Whatever is obvious is obviously wrong!"
- #60,036
- Sep 25, 2013 5:17am Sep 25, 2013 5:17am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #60,039
- Sep 25, 2013 5:40am Sep 25, 2013 5:40am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #60,040
- Sep 25, 2013 5:44am Sep 25, 2013 5:44am
- | Commercial User | Joined Mar 2008 | 9,071 Posts
{quote} Sonic, That is well and good. But the subject of VaR isn't one you can just read thru and then know it! It is complex. Furthermore, just reading a description of it, it seems totally inappropriate to the sort of trading we do, where substance, content and quantity is constantly changing. You said we should read it. Maybe it is just me, but I quickly browsed it and threw my hands up in disgust.
Sonic