DEMOlympics for 2014 | Page 13 | Forex Factory

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DEMOlympics for 2014

  • #241
  • Feb 16, 2014 6:59am Feb 16, 2014 6:59am
Quoting kanikuly
Tau are you still in?
He usually doesnt post while he is in a trade. Its better to focus on the trade and post when everything is over.
  • #242
  • Feb 16, 2014 7:06am Feb 16, 2014 7:06am
He removed his signature and has been 60% down the last time I saw it, I was just curious if he quit or startet over...
  • #243
  • Feb 16, 2014 7:12am Feb 16, 2014 7:12am
Quoting kanikuly
He removed his signature and has been 60% down the last time I saw it, I was just curious if he quit or startet over...
No. After the FF update signature were taken off for everyone. I had to add my explorer to my signature too. If you look at his profile you can still see his original TE
  • #244
  • Feb 16, 2014 8:20am Feb 16, 2014 8:20am
Didnt know there has been an update lol
  • #245
  • Feb 16, 2014 2:31pm Feb 16, 2014 2:31pm
For reference the consolidation patterns I use for entry and exit
Attached Image (click to enlarge)
Click to Enlarge Name: Technical Patterns Summary.png Size: 139 KB
  • #246
  • Feb 16, 2014 2:41pm Feb 16, 2014 2:41pm
Quoting JimmyC
For reference the consolidation patterns I use for entry and exit {image}
thank you for bringing this here. Maybe once Tautrader is back that table could be added in the front page.
  • #247
  • Feb 16, 2014 3:20pm Feb 16, 2014 3:20pm
Trading objective for this exercise will be:

  1. 4% per month growth on capital
  2. Strict adherence to 2% SL on any trade (may be visual and not mechanical stop)

Chart Setup

  1. Price in candles or bars
  2. logarithmic scale
  3. support and resistance from minor to major
  4. 50 & 200 MA
  5. Indicators RSI and Stochastic (for divergence & OBOS)


Preferred Entry

  1. With trend (to go up, first we must go down and vice versa)
  2. Price Action trading (candlestick entries)
  3. Long off support / short off resistance
  4. Retrace trades off Fibs
  5. 200sma touches
  6. Consolidation patterns with preference to continuations
  7. R/R 1:2 and higher
  8. Avoid fundamental entries (news)
  9. Note confirmation and confluence
  10. Multi-timeframe confirmations

Trade duration

  1. High TF trades 4H, Daily, Weekly Monthly
  2. Overnight position favoured above day trades

Position Size

 

  1. Position sizes will be relatively small to allow volatility tolerance
  2. No averaging down, no adding to losing trades
  3. Add to winning trades

Set trailing SL for trades at target


If you have any other questions about how I'm entering, exiting please ask and I'll give you my answers in time.

Trading disclosure

Present positions (all)
Long SPX
Long ALSI T40
Short CFR:J
Long New Gold Ltd ETF
Long XAUUSD

3 Accounts being managed with 2 FX 1 Equities

Good Luck all!

  • #248
  • Feb 17, 2014 3:59am Feb 17, 2014 3:59am
Quoting JimmyC
Trading objective for this exercise will be: 4% per month growth on capital Strict adherence to 2% SL on any trade (may be visual and not mechanical stop) Chart Setup Price in candles or bars logarithmic scale support and resistance from minor to major 50 & 200 MA Indicators RSI and Stochastic (for divergence & OBOS) Preferred Entry With trend (to go up, first we must go down and vice versa) Price Action trading (candlestick entries) Long off support / short off resistance Retrace trades off Fibs 200sma touches Consolidation patterns with preference...
Very good explanation/setup!

All the best to you
COT: The precious data ignored
  • #249
  • Edited 1:33pm Feb 17, 2014 8:32am | Edited 1:33pm
AU Daily

R:R for short appears good
Momentum to the downside
Evening Star reversal Pattern with incomplete confirmation candle

Attached Image (click to enlarge)
Click to Enlarge Name: AU Daily.png Size: 22 KB


Sell Limit order @ Daily low for Entry with stop 90.720

1H confirms bearish reversal

Attached Image (click to enlarge)
Click to Enlarge Name: AU 1H.png Size: 25 KB


Probably worth noting AU news due in a few hours and so the bet is motivated by previous poor AU data. Its a limit order so no live triggers unless the news is bad... Therefore validating present setup but if news surprises to the upside no need to check the stop
  • #250
  • Feb 18, 2014 1:36am Feb 18, 2014 1:36am
Quoting JimmyC
AU Daily R:R for short appears good Momentum to the downside Evening Star reversal Pattern with incomplete confirmation candle {image} Sell Limit order @ Daily low for Entry with stop 90.720 1H confirms bearish reversal {image} Probably worth noting AU news due in a few hours and so the bet is motivated by previous poor AU data. Its a limit order so no live triggers unless the news is bad... Therefore validating present setup but if news surprises to the upside no need to check the stop
Not filled AU news surprised to the up side but remained capped below resistance, so I'm going to re-order the limit and will place as Fill or kill. I'm going to maintain the order unless daily closes above ,90820 in which case the pattern is invalid.
  • #251
  • Feb 18, 2014 7:15am Feb 18, 2014 7:15am
Quoting JimmyC
{quote} Not filled AU news surprised to the up side but remained capped below resistance, so I'm going to re-order the limit and will place as Fill or kill. I'm going to maintain the order unless daily closes above ,90820 in which case the pattern is invalid.
Same for the Yen
  • #252
  • Edited Feb 19, 2014 12:30am Feb 18, 2014 1:35pm | Edited Feb 19, 2014 12:30am
$SPX500

Unusual Structure - descending broadening wedge 1H

EDIT: the significance of charting the Standard & Poor's top 500 in FX trading? Well confluence of dollar $DXY index. A weak index = stronger stocks and vice versa.
note also that in the most general terms increases in lending rates = weaker stocks and stronger dollar. So US indices play a fundamental part in the trend of the FX majors
Attached Image (click to enlarge)
Click to Enlarge Name: US SPX 500 (MAR-14) 1H.png Size: 22 KB
  • #253
  • Feb 19, 2014 12:21am Feb 19, 2014 12:21am
Quoting JimmyC
AU Daily R:R for short appears good Momentum to the downside Evening Star reversal Pattern with incomplete confirmation candle {image} Sell Limit order @ Daily low for Entry with stop 90.720 1H confirms bearish reversal {image} Probably worth noting AU news due in a few hours and so the bet is motivated by previous poor AU data. Its a limit order so no live triggers unless the news is bad... Therefore validating present setup but if news surprises to the upside no need to check the stop
Not particularly happy with the performance of this trade but adhering to the plan patience
  • #254
  • Feb 19, 2014 7:20am Feb 19, 2014 7:20am
Good day to you all,

First up - apology for not being around - have been running a bit in terms of my business. Issues were experienced in terms of updating the 1st post also. This was resolved.

Was out of town on business since Sunday morning and only returned late last night. For all you wondering - messed up the initial explorer. Opened a new one within the time framework allowed and have that running. If anyone has a problem with this - please let me know. I will then step aside.

I have updated the 1st post with all the explorers received via PM - so we should be good. If any trader has been omitted - please let me know via PM. I will look at the creation date and will then include the valid ones.

Happy trading

Regards
  • #255
  • Feb 19, 2014 7:47am Feb 19, 2014 7:47am
good day,

We have current resistance @ 1.66850 - should this resistance hold - we may very well drop to 1.6370
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 74 KB
  • #256
  • Feb 19, 2014 8:01am Feb 19, 2014 8:01am
EU has indicated a readiness lower on the 4hr chart too..

I wait for a little rise - then boom.
  • #257
  • Feb 19, 2014 1:39pm Feb 19, 2014 1:39pm
Quoting JimmyC
$SPX500 Unusual Structure - descending broadening wedge 1H EDIT: the significance of charting the Standard & Poor's top 500 in FX trading? Well confluence of dollar $DXY index. A weak index = stronger stocks and vice versa. note also that in the most general terms increases in lending rates = weaker stocks and stronger dollar. So US indices play a fundamental part in the trend of the FX majors {image}
$SPX 500
During early trading on the S&P an initial rally validated the structure and there was a rapid flush above ST resistance into major resistance but failed to reach target as Long Term resistance proved too strong. The world bank then released data indicating that EM did pose a significant risks to the market, thereafter FOMC minutes indicated that the committee were considering raising interest rates.

interest rate hikes= strong dollar = bad for equities, weakening of dollar crosses ensued
Attached Image (click to enlarge)
Click to Enlarge Name: US SPX 500 1H.png Size: 20 KB
  • #258
  • Feb 19, 2014 2:10pm Feb 19, 2014 2:10pm
Quoting JimmyC
{quote} $SPX 500 During early trading on the S&P an initial rally validated the structure and there was a rapid flush above ST resistance into major resistance but failed to reach target as Long Term resistance proved too strong. The world bank then released data indicating that EM did pose a significant risks to the market, thereafter FOMC minutes indicated that the committee were considering raising interest rates. interest rate hikes= strong dollar = bad for equities, weakening of dollar crosses ensued {image}
its all bastard talk, the data is too weak atm, expect QE for longer period, higher stocks, lower USD, higher Gold etc....
Don't be a hero. Don't have an ego. Always question yourself
  • #259
  • Feb 20, 2014 1:54am Feb 20, 2014 1:54am
good day,

Looking to long the Yen on the daily.

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpydaily.png Size: 67 KB
  • #260
  • Feb 20, 2014 2:41am Feb 20, 2014 2:41am
Can you share some information about the indicator you are using in that chart Tau ?
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