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  • #2,921
  • Mar 13, 2014 2:22am Mar 13, 2014 2:22am
Quoting LarryDarrell
{quote} I do, but I still suffer from old habits, closing or opening positions because 'I'm here and watching' when there is a sudden spectacular movement. Sometimes I open a position in the flow, just to realize a few minutes later that I bought resistance...
ahh, I see.. been there, done that.. lol..

anyway I have a question Larry, I notice you're making many trades without a stop, do you have a mental stop somewhere if price suddenly makes a wtf move, or anything else.. I'm just curious about your trading style to be honest..
Patience is a virtue...
  • #2,922
  • Mar 13, 2014 2:45am Mar 13, 2014 2:45am
I use two different approaches:
1. Clear entry point, slightly larger position, s/l where the initial logic doesn't work. The s/l will be between 10-40 pips, depending on the target and the pair.
2. Entry zone, very small positions, sometimes a series of entries, no s/l initially (or sometimes very large one), but a s/l area where I will get out. There is no protection for wtf-moves, but the positions have room for several hundred pips.

EA yesterday is an example: I had a nice entry on the edge, with s/l. When at first it went down, I added another position manually, no s/l. With the move up, the edge one was stopped out, the other one was in the red. I still haven't placed s/l, for I have another short pending further up. If EA clears 5309 I will set a s/l, close partial and let it ride.

Regarding EU: have found this monthly chart, we are at an important point, the mid of the 2008/2010 move. With the mofu-cross in 2011 this should still be southbound, so 3956 and 4206 are important. The yellow rectangles are the yearly candle-bodies.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusdmonthly130314.png Size: 22 KB
Fail better.
  • #2,923
  • Mar 13, 2014 3:05am Mar 13, 2014 3:05am
Quoting LarryDarrell
I use two different approaches: 1. Clear entry point, slightly larger position, s/l where the initial logic doesn't work. The s/l will be between 10-40 pips, depending on the target and the pair. 2. Entry zone, very small positions, sometimes a series of entries, no s/l initially (or sometimes very large one), but a s/l area where I will get out. There is no protection for wtf-moves, but the positions have room for several hundred pips. EA yesterday is an example: I had a nice entry on the edge, with s/l. When at first it went down, I added another...
thanks Larry, very nice to hear about your approach to the charts.. thats what makes trading so complex IMO, we all have the same charts, and yet so many ways to look at things..

regarding eu I only se bull strength atm, so far we never looked back after that intraday test of the daily BO area, each time bears tried they got slammed..

Quoting hadox
{quote} breakout area on the daily getting tested - daily & 1h chart {image}
Patience is a virtue...
  • #2,924
  • Mar 13, 2014 3:17am Mar 13, 2014 3:17am
Quoting hadox
each time bears tried they got slammed..
I'm definitly not shorting this anymore, maybe if it directly runs through to 1.42. At sometime it will lose steam, but I'm done guessing where. This is one of the times I miss Sisse's posts, he always had a nice take on the fundamental background. From my very rudimentary fundi-ideas all this doesn't make sense anymore. But price goes, where it goes, and everything is possible and anything, that can happen, will happen (over a large enough timespan...). So: I'll wait for a serious break downwards (daily chart) before shorting the pullback. Everything else (EU): only with a tight s/l.
Fail better.
  • #2,925
  • Mar 13, 2014 3:25am Mar 13, 2014 3:25am
Quoting LarryDarrell
{quote} I'm definitly not shorting this anymore, maybe if it directly runs through to 1.42. At sometime it will lose steam, but I'm done guessing where. This is one of the times I miss Sisse's posts, he always had a nice take on the fundamental background. From my very rudimentary fundi-ideas all this doesn't make sense anymore. But price goes, where it goes, and everything is possible and anything, that can happen, will happen (over a large enough timespan...). So: I'll wait for a serious break downwards (daily chart) before shorting the pullback....
yes, he was sharp, very sharp indeed.. but to be honest I dont understand fundamentals, I don't focus on it and I dont care about it.. my approach is the charts and only the charts, maybe I'll evolve later, but at this point I'm happy with my performance by looking at the charts..
Patience is a virtue...
  • #2,926
  • Mar 13, 2014 5:04am Mar 13, 2014 5:04am
Quoting Ken A
{quote} E/U is going to screw me up again. Looks like E/U will be done at 1.42xx
morning, looks like we just need that 1.42 to get back on 1.5525 on EA
Don't be a hero. Don't have an ego. Always question yourself
  • #2,927
  • Mar 13, 2014 7:26am Mar 13, 2014 7:26am
Quoting hadox
I have 1.674x if cable bulls are serious.. gl today
getting close atm.. I got 1.683x if we break the top, if not, same old levels..

Inserted Video


anyway, lets see what happens..
Patience is a virtue...
  • #2,928
  • Mar 13, 2014 7:37am Mar 13, 2014 7:37am
Different broker, another spike Something for Schicks' collection

http://charts.mql5.com/4/154/eurusd-h1-gkfx-fx-cfds.png
Fix up, trade sharp ...
  • #2,929
  • Mar 13, 2014 8:00am Mar 13, 2014 8:00am
selling some UJ @ 102,70 stop 103,00
Don't be a hero. Don't have an ego. Always question yourself
  • #2,930
  • Mar 13, 2014 8:15am Mar 13, 2014 8:15am
Quoting LarryDarrell
next target will be 1.40 or thereabouts, last @1.42 somewhere, GU long s/l at b/e, target is 6751.
EU: make that 1.3974 and 1.417.
@Hadox: I've got a pending GU short @6807
Fail better.
  • #2,931
  • Mar 13, 2014 8:45am Mar 13, 2014 8:45am
AJ short 9338.
Fail better.
  • #2,932
  • Mar 13, 2014 9:16am Mar 13, 2014 9:16am
Quoting USD-Bear
selling some UJ @ 102,70 stop 103,00
Nice idea on the hourly pin bar. I was also short. I am watching A/U to run out of steam and E/U to move up again for a long setup on E/A atm. Might happen soon with weak USD.
Fix up, trade sharp ...
  • #2,933
  • Mar 13, 2014 9:19am Mar 13, 2014 9:19am
Quoting USD-Bear
selling some UJ @ 102,70 stop 103,00
all stops @ BE
Don't be a hero. Don't have an ego. Always question yourself
  • #2,934
  • Mar 13, 2014 9:20am Mar 13, 2014 9:20am
Quoting USD-Bear
{quote} all stops @ BE
Fix up, trade sharp ...
  • #2,935
  • Mar 13, 2014 9:24am Mar 13, 2014 9:24am
Quoting Hickson
{quote} Nice idea on the hourly pin bar. I was also short. I am watching A/U to run out of steam and E/U to move up again for a long setup on E/A atm. Might happen soon with weak USD.
think that 102,70 is now resistance
Loaded shorts on the pullback after break

UJ H4:
Attached Image (click to enlarge)
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Don't be a hero. Don't have an ego. Always question yourself
  • #2,936
  • Mar 13, 2014 9:28am Mar 13, 2014 9:28am
GBP/USD is a bit slow... after the retracement to .6685 I added a long, but if it will not rise I might just cut it again. Still believe in 1,68xx as a valid target.
Fix up, trade sharp ...
  • #2,937
  • Mar 13, 2014 9:32am Mar 13, 2014 9:32am
Quoting Hickson
GBP/USD is a bit slow... after the retracement to .6685 I added a long, but if it will not rise I might just cut it again. Still believe in 1,68xx as a valid target.
at least USD room enough on downside

USDOLLAR D1:
Attached Image (click to enlarge)
Click to Enlarge Name: Picture0009.png Size: 100 KB
Don't be a hero. Don't have an ego. Always question yourself
  • #2,938
  • Mar 13, 2014 9:34am Mar 13, 2014 9:34am
Quoting USD-Bear
{quote} morning, looks like we just need that 1.42 to get back on 1.5525 on EA
I closed one short on data spike for +120 pips and this one is still alive. A/U bounce on dollar weakness.
Attached Image
  • #2,939
  • Mar 13, 2014 9:40am Mar 13, 2014 9:40am
Quoting Ken A
{quote} I closed one short on data spike for +120 pips and this one is still alive. A/U bounce on dollar weakness. {image}
I woke up this morning and saw that E/A short hit my initial target. Was too cowardish earlier. Still so unusual when money comes into my account
Right now watching A/U for signs of weakness. Might not be much with ongoing USD weakness and considering it is friday tomorrow, so maybe E/A long does not come into play again before next week.
Fix up, trade sharp ...
  • #2,940
  • Mar 13, 2014 10:13am Mar 13, 2014 10:13am
Quoting LarryDarrell
AJ short 9338.
Closed half with 32 pips and placed s/l @9342
Fail better.
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