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Price Action and Trading Discussion

  • #4,861
  • Mar 26, 2014 10:41am Mar 26, 2014 10:41am
Just shorted audchf from old sup turned into solid res.. will see if it holds up. Trade is obviously against the small recent up ward move but still inside the 400 piper consolidation box.. if its not yet pumped to break out, it could move to test LL again at least play inside a bit more.. who knows, it's worth a shot with a small stop.
Attached Image (click to enlarge)
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Passion, Persist, Patience, Protect
  • #4,862
  • Mar 26, 2014 10:51am Mar 26, 2014 10:51am
Pending short also triggered on audusd.. I am taking shot at this from a mediocre level to see if it's ready to pullback a bit or moreee.
same deal on audnzd short.

small risk on all three aud trades as aud has looked strong lately.. it has too pullback at some point or even reverse for solid gain.
Attached Image (click to enlarge)
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Passion, Persist, Patience, Protect
  • #4,863
  • Mar 26, 2014 11:02am Mar 26, 2014 11:02am
It's time for some Aussie dumping babyyyyyyyyy.. who is with me!!!
Passion, Persist, Patience, Protect
  • #4,864
  • Mar 26, 2014 12:57pm Mar 26, 2014 12:57pm
Quoting inad07
short on AUDCAD (M15)
TP hit, +25 and +50
  • #4,865
  • Mar 27, 2014 3:55am Mar 27, 2014 3:55am
Quoting FXEmpire
It's time for some Aussie dumping babyyyyyyyyy.. who is with me!!!
The Aussie is like a big heavy train moving fast towards a concrete wall. I'm just going to see what happens .
  • #4,866
  • Mar 27, 2014 5:45am Mar 27, 2014 5:45am
Quoting jen101
{quote} The Aussie is like a big heavy train moving fast towards a concrete wall. I'm just going to see what happens .
well jenny you just might miss the train, lol.

I just added audjpy short to the mix..
Passion, Persist, Patience, Protect
  • #4,867
  • Mar 27, 2014 5:52am Mar 27, 2014 5:52am
Quoting FXEmpire
{quote} well jenny you just might miss the train, lol. I just added audjpy short to the mix..
Eeek! I'm being
  • #4,868
  • Mar 27, 2014 6:15am Mar 27, 2014 6:15am
GbpChf .... Short trade
Attached Image (click to enlarge)
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Risk / Trade Management is the name of the Game
  • #4,869
  • Mar 27, 2014 7:08am Mar 27, 2014 7:08am
Quoting FxSaint
GbpChf .... Short trade {image}
saint what is your reasoning behind this short trade beside the trend line.. if you don't mind me asking.

I personally think it broke a pretty solid res firmly about 50 pips ago around 4700.
Passion, Persist, Patience, Protect
  • #4,870
  • Mar 27, 2014 8:33am Mar 27, 2014 8:33am
Shorting usdchf
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  • #4,871
  • Mar 27, 2014 10:31am Mar 27, 2014 10:31am
Quoting FXEmpire
{quote} saint what is your reasoning behind this short trade beside the trend line.. if you don't mind me asking. I personally think it broke a pretty solid res firmly about 50 pips ago around 4700.
Fxempire, I have shown in chart the level marked with all the arrows & horizontal S/R line in confluence with TL. And which LVL break you are referring too ?? Please show in chart. And please ask as many questions as you like, we are sharing the charts to discuss only, if someone dont like questions being asked then I must say he should not share his chart at first place. I love to interact with fellow traders.

;-)
Risk / Trade Management is the name of the Game
  • #4,872
  • Mar 28, 2014 6:32am Mar 28, 2014 6:32am
Quoting jen101
Shorting usdchf {image}
This hit SL. Why? I entered too early. I didn't wait for a clear reversal on the daily. There were some nice reversal candles on H4 which were what I went on and got duped. Trading S&R is great sometimes and huge gains can be made. When the market is such that price is just nicely bouncing around, you can set pending orders, be almost accurate to the pip and virtually get 100% hit rate.

FxEmpire, I know you trade like this. I hope you don't take this the wrong way. I look at your trades and those are the EXACT trades I look at, with levels pretty similar to yours. When the market decides to shoot off, you get stung. Maybe the market has been shooting off more than normal and you are playing a numbers game; I don't know. But whether or not it is unusual is really no excuse and I have been trying to 1) try to predict / identify it and 2) how to protect myself against it. Yes, they say it is impossible to get 100% wins but I'm going to damn well try to get as close as I can . Now, we've got to work on losing those pesky losers!

If I had waited for a good daily reversal, I would not have taken that usdchf trade. Yes, it also means that I would have missed out on a lot of my winning trades, but then it is more important to me to not lose than to win...
Attached Image (click to enlarge)
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  • #4,873
  • Mar 28, 2014 6:58am Mar 28, 2014 6:58am
Quoting jen101
{quote} This hit SL. Why? I entered too early. I didn't wait for a clear reversal on the daily. There were some nice reversal candles on H4 which were what I went on and got duped. Trading S&R is great sometimes and huge gains can be made. When the market is such that price is just nicely bouncing around, you can set pending orders, be almost accurate to the pip and virtually get 100% hit rate. FxEmpire, I know you trade like this. I hope you don't take this the wrong way. I look at your trades and those are the EXACT trades I look at, with levels...
i seldom trade u/chf as she is the reversed of e/u
i go with g/chf which u/chf has similar charaters

both prices are in critical point
my view on g/chf may apply to u/chf
http://www.forexfactory.com/showthre...91#post7369891

imho at end of the day or next 1-2 days she will show us a clear movement
cheers
  • #4,874
  • Mar 28, 2014 7:34am Mar 28, 2014 7:34am
Quoting tlpfx14
{quote} i seldom trade u/chf as she is the reversed of e/u i go with g/chf which u/chf has similar charaters both prices are in critical point my view on g/chf may apply to u/chf http://www.forexfactory.com/showthre...91#post7369891 imho at end of the day or next 1-2 days she will show us a clear movement cheers
Thanks, you have confirmed my thoughts. Funny about usdchf, I heard someone else say that before.

Ok then, a more cautious trade, audcad short. On the daily, there is a reversal pin bar followed by a bearish engulfing. Surely, that's enough :nerd:. The level dates back to over a year ago and beyond.
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  • #4,875
  • Edited 8:42am Mar 28, 2014 7:59am | Edited 8:42am
long on EURJPY (M15)
not the best set up, so only half my normal position size
--------
update: first target hit, +27
--------
update: second target hit, +55

have a nice weekend!
Attached Image
  • #4,876
  • Mar 28, 2014 1:00pm Mar 28, 2014 1:00pm
Quoting inad07
long on EURJPY (M15) not the best set up, so only half my normal position size -------- update: first target hit, +27 -------- update: second target hit, +55 have a nice weekend! {image}
  • #4,877
  • Mar 29, 2014 12:50am Mar 29, 2014 12:50am
Quoting FxSaint
GbpChf .... Short trade {image}
Loss = -23 pips
Risk / Trade Management is the name of the Game
  • #4,878
  • Mar 29, 2014 4:28am Mar 29, 2014 4:28am
Quoting jen101
{quote} This hit SL. Why? I entered too early. I didn't wait for a clear reversal on the daily. There were some nice reversal candles on H4 which were what I went on and got duped. Trading S&R is great sometimes and huge gains can be made. When the market is such that price is just nicely bouncing around, you can set pending orders, be almost accurate to the pip and virtually get 100% hit rate. FxEmpire, I know you trade like this. I hope you don't take this the wrong way. I look at your trades and those are the EXACT trades I look at, with levels...
It's nothing to take in a wrong way it's all good jenny babyyy, lol.
I know what your talking about and here is my take overall IMHO..

In trading as we all know or should know is that, everything is a give and take.. try to fix one thing, will lag or effect another.
Throughout my years of trading I have tried many tactics to enhance profit margin or in another word to get the best of both world which is to plot the best hit rate and RR ratio. But in the end it all came down to one thing for me and that is, to not be too systematic.. why? because market goes through cycle and ones systematic approach will work in one cycle greatly and not so in another and the worst thing is to keep changing things around where it could easily result in getting lost in the mood changes.

So, what I rather to rely on... is nothing but simple market philosophies that I believe in.. and that is, "nothing ever last for ever".. no cycle ever lasts for ever.. things are never as bad is it seems to be and never as good as it seems to be.. everything ends.. how you handle it is the key part, whether is bullish or bearish.. attack and protect during bear.. attack and maximize during bull.. it's cliche but true.
Another.. " Price direction is mostly settled at important levels".. as a trader I rather take my shot at such levels than anywhere else. Sure it's still taking shots in the dark but, hey, don't we all unless you are x buffet, lol.

The success relies not much on tactical of pursing to get too wise for the unpredictable/identifiable environment but rather the toughness and patience to make it through the bear time in order to reach the glorifying bull time. A safe/reasonable MM and favorable RR is more of a better cure to over come and compensate it all in the end.
The way I see it better and simple, is .. if I try to mess with my entry too much during my bear time, it will surly effect my bottom line during the my bull time.. with knowing that my bull time out weights my bear time then its not in my favor obviously. So I tend to stay out of the barrel and flow on clear path.

I close with this.. for me personally, the number one enemy to my bottom line is nothing but missing opportunities/signals.. meaning action percentage to not drop under 80%. Damage wise, down cycle or bear time could not even come close to it, it's rather irrelevant, expected and already budgeted in.

regards,
Passion, Persist, Patience, Protect
  • #4,879
  • Mar 29, 2014 4:43am Mar 29, 2014 4:43am
EurAud Longs ???
Attached Image (click to enlarge)
Click to Enlarge Name: download.png Size: 61 KB
Risk / Trade Management is the name of the Game
  • #4,880
  • Mar 29, 2014 8:08am Mar 29, 2014 8:08am
Quoting FXEmpire
{quote} The success relies not much on tactical of pursing to get too wise for the unpredictable/identifiable environment but rather the toughness and patience to make it through the bear time in order to reach the glorifying bull time. A safe/reasonable MM and favorable RR is more of a better cure to over come and compensate it all in the end.
I need more toughness and patience, can you pass me some? When I have a good run, I get worried it will all go belly up soon and inevitably I am right. I get a loss or two and I immediately chicken out. That's my MM lol. I need something a bit more objective than that and I'm working on it .

Quoting FxSaint
EurAud Longs ??? {image}
I think the euro is about to bounce back next week. I have my eye on eurusd, euraud, audchf.
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