Elite Trading Method | Page 10 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Simplicity is the ultimate form of sophistication ( Elite ) 866 replies

Elite Predator - News Trading Idea to EA/Indicator System 17 replies

bo7a method... method for GBP/JPY 205 replies

elite's personal journal 28 replies

Attachments: Elite Trading Method
Exit Attachments

Elite Trading Method

  • #181
  • Mar 31, 2014 9:00pm Mar 31, 2014 9:00pm
Quoting Chicky
{quote} Closed shorts few minutes before Tokyo open. Scalping long until 1.3788 but not sure if it will get there. This scalp was in anticipation of a spike up on Tokyo Open, but pa did not move at all on Tokyo Open. Carrying this long until I see Break Even.
Is Tokyo open today?
The Thief of Wall Street
  • #182
  • Mar 31, 2014 9:13pm Mar 31, 2014 9:13pm
All these resistances (now supports) have been broken, but pa is still not coming down.
Its either some new development or only a matter of time.
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled11111.jpg Size: 63 KB
The Thief of Wall Street
  • #183
  • Apr 1, 2014 12:19am Apr 1, 2014 12:19am
Quoting Chicky
{quote} Closed shorts few minutes before Tokyo open. Scalping long until 1.3788 but not sure if it will get there. This scalp was in anticipation of a spike up on Tokyo Open, but pa did not move at all. Carrying this long until I see Break Even.
Managed to close that trade just above BE
The Thief of Wall Street
  • #184
  • Apr 1, 2014 12:27am Apr 1, 2014 12:27am
I don't see no workable setups now.

The best trategy for me is to let it first break in either direction and then see if it creates any Elite setup.
The Thief of Wall Street
  • #185
  • Edited 10:06pm Apr 1, 2014 9:13pm | Edited 10:06pm
These are few important levels where one can enter or exit.

3893
3832
3761

Checking my charts to see if we have any Elite Setup.

During day time,i.e., NY Session, I trade off my cell phone and therefore rely only on supports and resistances for entries/exits. Most of my trades during NY Session are scalping trades, plus, I cannot exactly calculate my risk level for such trades, however, I try to keep the risk within 1% for such trades. I today lost one such trade but gained on the other.
The Thief of Wall Street
  • #186
  • Apr 1, 2014 9:39pm Apr 1, 2014 9:39pm
Here are some levels to consider
3933
3900
3867
3834 Next Short / SL / TP
3801 Current
3768 Next Long / SL / TP
3735
The Thief of Wall Street
  • #187
  • Edited 9:54pm Apr 1, 2014 9:44pm | Edited 9:54pm
This is one move, you can apply the same technique to any bull or bear move of your choice.
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled11111.jpg Size: 73 KB
The Thief of Wall Street
  • #188
  • Apr 1, 2014 9:45pm Apr 1, 2014 9:45pm
Quoting Chicky
This is one move, you can apply the same technique for any bull or bear move of your choice. {image}
I am of long bias, because it has already touched this 50% fib, and again going back breaking 75% one.
The Thief of Wall Street
  • #189
  • Apr 1, 2014 10:23pm Apr 1, 2014 10:23pm
The fib levels in the above posted chart seem to be good. Here is a snap shot showing how pa is responding to them.
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled11111.jpg Size: 65 KB
The Thief of Wall Street
  • #190
  • Apr 2, 2014 11:59pm Apr 2, 2014 11:59pm
I am in deep shit. Three times stopped out of my longs, every time risking 1%.

All my calculations say, it should go up but it did not bounce off from three of my marked levels. This time long from an unmarked level. Let's see.
The Thief of Wall Street
  • #191
  • Apr 3, 2014 9:58pm Apr 3, 2014 9:58pm
Quoting Chicky
I am in deep shit. Three times stopped out of my longs, every time risking 1%. All my calculations say, it should go up but it did not bounce off from three of my marked levels. This time long from an unmarked level. Let's see.
Hi Chicky,

Why did you go long in EURUSD?
  • #192
  • Edited 10:50pm Apr 3, 2014 10:36pm | Edited 10:50pm
Quoting nathaniel
{quote} Hi Chicky, Why did you go long in EURUSD?
All my calculations said, it would go up. It did this morning, but I missed my exit/partial profit booking just above 1.3800. Unfortunately it happened during NY Session when I trade off a cell phone. After that I have been risking about 1% per trade longs at each major level on Daily Chart. As quoted in one of my earlier posts a couple days ago, 1.3712 to me is a very important level. I have set a budget of 10% to get on a long trend for profit taking mark of 1.4112 (few pips below my target of 1.4120). Expecting one or two more stoplosses, if it spikes down before going up. If this does not work, a long laboring work to get back to from where I started.
The Thief of Wall Street
  • #193
  • Apr 3, 2014 10:47pm Apr 3, 2014 10:47pm
Quoting Chicky
{quote} All my calculations said, it would go up. It did this morning, but I missed my exit/partial profit booking just above 1.3800. Unfortunately it happened during NY Session when I trade off a cell phone. After that I have been risking about 1% per trade longs at each major level on Daily Chart. As quoted in one of my earlier posts a couple days ago, 1.3712 to me is a very important level. I have set a budget of 10% to get on a long trend for profit taking mark of 1.4112 (few pips below my target of 1.4120). Expecting one or two more stoplosses,...
If it does not bounce from here, the next is:

1. Long where this Yellow Dot is in the attached Daily Chart, but that would mean a lot of waiting time and again several stoplosses before a postion survives
or
2. Wait for the pa to stay above 1.3712 and start making newer short-term long trends.

Until it happens, smaller short term trades as and when a setup is identified.
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled11111.jpg Size: 69 KB
The Thief of Wall Street
  • #194
  • Apr 3, 2014 10:58pm Apr 3, 2014 10:58pm
Quoting Chicky
Target for bear Elites: Right time to sell from here to 1.3773 with tp at 1.3712 (Keep a couple of pip safety cushion) {image}
Found the post about 1.3712 level. ps. Calcualtion for bear target was correct and also the long bias until it happens with correctly calculated bull tp around 1.3800, but I extended tp to 1.4112 based on daily. Maybe a mistake ........... but who knows!

It is time for bear elites to book some profit and bulls to consider a long entry.
The Thief of Wall Street
  • #195
  • Apr 3, 2014 11:09pm Apr 3, 2014 11:09pm
Quoting Chicky
{quote} Found the post about 1.3712 level. ps. Calcualtion for bear target was correct and also the long bias until it happens with correctly calculated bull tp around 1.3800, but I extended tp to 1.4112 based on daily. Maybe a mistake ........... but who knows! It is time for bear elites to book some profit and bulls to consider a long entry.
My bad! It was the second bear move from just above 1.3800 to 1.3712. The the one which I referred in that post ended at 1.3720/22 not hitting the 1.3712 mark.
The Thief of Wall Street
  • #196
  • Apr 8, 2014 1:03pm Apr 8, 2014 1:03pm
Quoting Chicky
{quote} All my calculations said, it would go up. It did this morning, but I missed my exit/partial profit booking just above 1.3800. Unfortunately it happened during NY Session when I trade off a cell phone. After that I have been risking about 1% per trade longs at each major level on Daily Chart. As quoted in one of my earlier posts a couple days ago, 1.3712 to me is a very important level. I have set a budget of 10% to get on a long trend for profit taking mark of 1.4112 (few pips below my target of 1.4120). Expecting one or two more stoplosses,...
Hope you caught the long trade
  • #197
  • Jun 18, 2014 12:17am Jun 18, 2014 12:17am
Quoting Chicky
{quote} If it does not bounce from here, the next is: 1. Long where this Yellow Dot is in the attached Daily Chart, but that would mean a lot of waiting time and again several stoplosses before a postion survives or 2. Wait for the pa to stay above 1.3712 and start making newer short-term long trends. Until it happens, smaller short term trades as and when a setup is identified.

http://www.forexfactory.com/attachme...1&d=1396583312

{image}
We are there
The Thief of Wall Street
  • #198
  • Jun 18, 2014 1:54am Jun 18, 2014 1:54am
Quoting Chicky
{quote} We are there
Have you changed your mind chicky abouth the short? You think the euro will rise? At the moment I find the direction very diffecult.
  • #199
  • Jun 18, 2014 7:18am Jun 18, 2014 7:18am
Quoting MarianneOslo
{quote} Have you changed your mind chicky abouth the short? You think the euro will rise? At the moment I find the direction very diffecult.
It is always difficult for me to predict the direction, this time is no different. Some important news today, but my technicals indicate a good bounce from this level or from 1.3400.
The Thief of Wall Street
  • #200
  • Jun 18, 2014 7:48am Jun 18, 2014 7:48am
For me the picture looks much more clear now and I think the euro will ride of the FED.

One of the reason I think it is so is the weakness of the NOK today which is very much correlated to the euro rise.
0 traders viewing now