DislikedWhen trading scoops I usually wait for price to make a second attempt to get above the 10 EMA; also it's a lot safer if there is considerable distance between 35.50 EMA and current price. There were many scoop trade opportunities today, this is the one I took! {image}Ignored
- #10,321
- Feb 27, 2014 6:10am Feb 27, 2014 6:10am
- Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts
- #10,322
- Feb 27, 2014 7:36am Feb 27, 2014 7:36am
@ Sesamstrasse+Donīt forget , all questions get answered for free!!
I heard about a german forum where they sell unproven EAīs for 4500 euro
..
Good thing I tried the English speaking ones first!!! Don't think I'll ever visit that German one.
Saluti
I heard about a german forum where they sell unproven EAīs for 4500 euro
..Good thing I tried the English speaking ones first!!! Don't think I'll ever visit that German one.
Saluti
- #10,323
- Mar 3, 2014 1:41am Mar 3, 2014 1:41am
- Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts
This is a trade I took this morning nicely demonstrating 2 things:
1 ) Be nimble in your targets if you play smaller TF
2) Never forget the higher TFs, specially if you are countertrend
So my trade was based on M5 12 bounce short with a target around DS1, I was also ready to close at WP. I closed around the RN (1.6700) for about 13p.
Another trader of CHOROS looking at higher TFs should have entered long around the area I exited since it was a nice confluence of WP, RN, H4 10, H1 35/50. The news pushed this one quickly to the next RN (1.6750).
So when choosing a TF your targets and SL should be according to that TF. Of course, if your smaller TF trade agrees with the higher TF direction(with-trend) then targets can be modified if you catch the right trend in line with the main trend.
Hope the above is clear
1 ) Be nimble in your targets if you play smaller TF
2) Never forget the higher TFs, specially if you are countertrend
So my trade was based on M5 12 bounce short with a target around DS1, I was also ready to close at WP. I closed around the RN (1.6700) for about 13p.
Another trader of CHOROS looking at higher TFs should have entered long around the area I exited since it was a nice confluence of WP, RN, H4 10, H1 35/50. The news pushed this one quickly to the next RN (1.6750).
So when choosing a TF your targets and SL should be according to that TF. Of course, if your smaller TF trade agrees with the higher TF direction(with-trend) then targets can be modified if you catch the right trend in line with the main trend.
Hope the above is clear
- #10,325
- Mar 3, 2014 3:04am Mar 3, 2014 3:04am
- Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts
Kostas why did you take the gbp/usd trade and not the eur/usd trade ? How did you decide that gbp was better ? And why aren't you flying your kite this morning ?
2. GU is generally my favorite currency in trading and bounces form the expected MAs better than EU
3. How do you know about kite flying, any Greek friends there? Weather sucks today, so flying a kite today may provide evidence for electricity
.
- #10,327
- Edited 8:38am Mar 5, 2014 8:27am | Edited 8:38am
- Joined Jun 2013 | Status: Membership Rewarded | 3,206 Posts
Dear dancers !
After a wonderful 7 days carneval vacation
, I continued trading today.
Hereīs a ema 10 constrainment trade EJ m15 .
the price came down , touched before the Sma 35 , then a pingpong to 10 ema .. then touched the 50Ema
after a final touch , it broke the 50 ema line and was only fighting with the round number .
I used a SL about 3 pips .
Edit .. kicked it out + 11 pips ....
After a wonderful 7 days carneval vacation
, I continued trading today.Hereīs a ema 10 constrainment trade EJ m15 .
the price came down , touched before the Sma 35 , then a pingpong to 10 ema .. then touched the 50Ema
after a final touch , it broke the 50 ema line and was only fighting with the round number .
I used a SL about 3 pips .
Edit .. kicked it out + 11 pips ....
Risiko birgt immer auch die Chance.
Dear dancers ! After a wonderful 7 days carneval vacation
...I was watching the price as it unfolded but it didn't crossed my mind that a constrainment trade is setting up
- #10,329
- Mar 5, 2014 9:28am Mar 5, 2014 9:28am
- Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts
Dear dancers ! After a wonderful 7 days carneval vacation
- #10,330
- Mar 5, 2014 9:32am Mar 5, 2014 9:32am
- Joined Jun 2013 | Status: Membership Rewarded | 3,206 Posts
{quote} I think I see you in there.....:nerd: {image}
Hahahaha !!Yes , Iīm behind this waggon and show miss piggy my " trading slyle "
Risiko birgt immer auch die Chance.
Kostas - Glad to see you're still alive. 
You're realllly not going to believe what I did...Posted an article at Winners Edge Trading saying I'd put just $50 in an account, and try to grow it to a million in 18 months. I thought I might get away clean and just be able to forget my insanity - maybe nobody would read the article, but the site practically blew up with comments, so now I'm kind of obligated to actually give it a try.
And guess what my chosen trading strategy is going to be? Well, all I can say is, those 10 MAs better work like flippin' magic.
Gonna need your help with this - your prayers if nothing else. Oh, and it would be great if, like, every other day, you could just yell at me, "Noooo! Don't trade Eur/Gbp!"
Best wishes always,
Jack
You're realllly not going to believe what I did...Posted an article at Winners Edge Trading saying I'd put just $50 in an account, and try to grow it to a million in 18 months. I thought I might get away clean and just be able to forget my insanity - maybe nobody would read the article, but the site practically blew up with comments, so now I'm kind of obligated to actually give it a try.
And guess what my chosen trading strategy is going to be? Well, all I can say is, those 10 MAs better work like flippin' magic.
Gonna need your help with this - your prayers if nothing else. Oh, and it would be great if, like, every other day, you could just yell at me, "Noooo! Don't trade Eur/Gbp!"
Best wishes always,
Jack
Writer, currency trader, madman
- #10,333
- Edited 8:53pm Mar 5, 2014 8:36pm | Edited 8:53pm
After trying to understand the entry for a good whole month, looks like touch trade is the only thing I can understand despite having so many examples of the other 2 
Constrain trades are very obvious looking back to old charts but when they're forming in real time they often go against the direction I anticipate (constraining below 10EMA then broke upwards instead of down for example). I know I need more experience but would appreciate any tips from seniors.
Constrain trades are very obvious looking back to old charts but when they're forming in real time they often go against the direction I anticipate (constraining below 10EMA then broke upwards instead of down for example). I know I need more experience but would appreciate any tips from seniors.
Everything you can imagine, is real - Pablo Picasso
- #10,334
- Mar 5, 2014 10:24pm Mar 5, 2014 10:24pm
- Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts
{quote} Hi kostas as, long time no speak. Did you ever find you Sma angle coding that you were looking at a while back
Yes I did find a couple of indis but at the end I decided that nothing beats the eye. As I explained before, I have fixed scaling on my charts, so your eye is the best indicator if something is steep or flat...
- #10,335
- Mar 5, 2014 10:30pm Mar 5, 2014 10:30pm
- Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts
Kostas - Glad to see you're still alive.
Glad you are still writing....
I like your challenge, my advice is to stick with GU, EJ using H4 10, H1 10. Those two are in my experience the best behaving currencies for EMA 10. In addition, AU at the H4 10 is usually bouncing well. What I would do, is to use smaller TFs (M5, M15) and take signals from the H4 10 or H1 10. Your target should be 10-15p per trade unless your trade followup skills are sharp (mine aren't....). Obviously, you will need an agressive MM plan adjusting your lots to achieve this mediocre target
...Since this will be a CHOROS related challenge, I wouldn't mind following your progress, maybe post a link or something, maybe even post your trades here.
P.S. Oh yeah, I forgot: DON'T TRADE EUR/GBP !!
- #10,336
- Mar 5, 2014 10:35pm Mar 5, 2014 10:35pm
- Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts
After trying to understand the entry for a good whole month, looks like touch trade is the only thing I can understand despite having so many examples of the other 2
Tip 2: If you can become good in one kind of trade, then trade only that even if you get only 1 trade per day. Just have patience and choose the best trade
Tip 3: Choose ONE currency and learn how it reacts to these MAs
Tip 4: Spend the time in front of the screen, nothing replaces that.
- #10,337
- Mar 6, 2014 1:30am Mar 6, 2014 1:30am
- Joined Jun 2013 | Status: Membership Rewarded | 3,206 Posts
{quote} Hey man, Yes I did find a couple of indis but at the end I decided that nothing beats the eye. As I explained before, I have fixed scaling on my charts, so your eye is the best indicator if something is steep or flat...
Thereīs nothing better!!
Risiko birgt immer auch die Chance.
{quote} Hi Jack, Glad you are still writing....
Thanks much for all the tips on the various EMAs - I'm writing down the ones I haven't already noted myself - it is interesting how different lines seem to have different strength in different pairs.
As far as tracking, I'm thinking of setting up something in MyFxbook, but I'll definitely be checking in here since this will be the main strategy. I'll keep you posted one way or another.
I do like trading Gbp/Usd, although it can be notoriously spikey ("Yeah, we just wanted to take 5 seconds and stop you out - we're actually going 50 pips in the other direction - See ya!") compared to, say, Aud/Usd.
Writer, currency trader, madman
- #10,339
- Mar 6, 2014 4:12am Mar 6, 2014 4:12am
- Joined Jun 2013 | Status: Membership Rewarded | 3,206 Posts
After trying to understand the entry for a good whole month, looks like touch trade is the only thing I can understand despite having so many examples of the other 2
When I started , I used the simulator much ..
And the first positive impression I got when I put it to the fastes move ( I think itīs the button to 32 ).
Of course it was much too quick to enter in a trade... , but it showed me really a dance!!
Damn .. from exactly that moment I got my first simulator pips by the rules .
I can recommend the 10 ema touches (only the first touch) !! fix 10 pips TP and same as a SL
I used only Tf M15 .. thatīs it .. small pips , but almost every day a small profit made a big smile in my face .
Risiko birgt immer auch die Chance.
- #10,340
- Mar 6, 2014 5:27am Mar 6, 2014 5:27am
{quote} Hey man, Yes I did find a couple of indis but at the end I decided that nothing beats the eye. As I explained before, I have fixed scaling on my charts, so your eye is the best indicator if something is steep or flat...
A