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Trading around the world

  • #21
  • Apr 8, 2014 10:10am Apr 8, 2014 10:10am
Today was a mixed day. USDJPY had a perfect level and met all my criteria but it hit my SL. I am still happy with the trade and even the best setups will fail from time to time. It's part of the game.

Now I am in a EURUSD short. It already hit my first target and I took 50% off.

In total I am up today with EURUSD in positive and still running. It's all about money- and risk-management.
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Learn from yesterday, live for today and hope for tomorrow.
  • #22
  • Apr 15, 2014 10:18am Apr 15, 2014 10:18am
I have been slopp with my posts here but the people who follow my twitter will know that I am currently in Thailand and celebrating Thai New Year. Furthermore, I have been planing my travel to Indonesia - just booked my flight to Bali on the 19th yesterday.

Anyway, markets haven't produced anything worthwile in the meantime. Only 1 hour ago I got my first trade for the last few days. A perfect short setup on the USDCAD. Price went straight to my main target and I have a little rest running - however, price seem to reverse as I am typing this.

One good trade per week is what I am looking for and the with that USDCAD I already fullfilled my weekly goal. I don't see any further setups evelving but I'll keep an eye on the charts...
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Learn from yesterday, live for today and hope for tomorrow.
  • #23
  • Apr 16, 2014 5:02am Apr 16, 2014 5:02am
Although 1.682 is not a "fresh" level (price has been there 2 times already) we saw a strong selloff last time on April 10.
Furthermore, some price action confirmation and some other reasons made me go short.

It's 2/2 this week and I now have some "bonus" money still running towards a bigger Take Profit. Almost time to call it a week but Bali and Indonesia is next on my travel list from Saturday on - time to save some money ;-)
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Learn from yesterday, live for today and hope for tomorrow.
  • #24
  • Apr 22, 2014 6:59am Apr 22, 2014 6:59am
Now is the first time since Friday that I have access to wifi. Seems like Bali is having some serious wifi problems. I am not sitting in a coffee shop looking at charts - but seems like I did not miss anything. So there are no setups that I can share with you.

Traveling wise I will be finished with South East Asia after Indonesia. I am currently looking for a new and completely different experience to continue my traveling...
Learn from yesterday, live for today and hope for tomorrow.
  • #25
  • Apr 23, 2014 8:20am Apr 23, 2014 8:20am
Alright. We changed accomodations (leaving the rice field villa - see photo belo ) to get better wifi - Bali seems to struggle when it comes to good internet connection.

Here are a few screenshots of a few scenarios I am watching. Nothing too exciting for now though.#
Btw, I opened a skpe group for people trading similar price action and naked charts. If you are interested to join, just add me in skype - rolfsxyz
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Learn from yesterday, live for today and hope for tomorrow.
  • #26
  • Apr 24, 2014 7:59am Apr 24, 2014 7:59am
That's why I like trading. I started looking at charts yesterday and got into my first trade a few hours later - USDJPY short @ 102.5 - I woke up to a nice profit to pay my week here on an Island in Indonesia.

I also have 2 interesting setups that might bring some good trades.

NZSDUSD short. Great Support and Resistance level and D1 is showing an engulfing inside-pinbar, signaling bearish moves.

USDCHF long. Good level. I might use this level to hold a long term trade, since I still see prices going to .89
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Learn from yesterday, live for today and hope for tomorrow.
  • #27
  • Apr 25, 2014 6:19am Apr 25, 2014 6:19am
I get many mails regarding the USDCHF setup I posted yesterday that "did not work out".

Yes, it did not! And I did not take it because it did not meet my criterie. I just posted the chart because it might give a nice setup.

I posted a current screenshot of the USDCHF chart where you can see price hovering around the same price level. The first retests I marked are almost textbook setups and if you compare it to the one from yesterday it looks completely different.

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Be aware that this is no signal service - just a place where I share my thougts. Add me in skype if you want to talk in more detail and participate in a trading group
Learn from yesterday, live for today and hope for tomorrow.
  • #28
  • Apr 25, 2014 7:35am Apr 25, 2014 7:35am
Quoting TraderRolf
I get many mails regarding the USDCHF setup I posted yesterday that "did not work out". Yes, it did not! And I did not take it because it did not meet my criterie. I just posted the chart because it might give a nice setup. I posted a current screenshot of the USDCHF chart where you can see price hovering around the same price level. The first retests I marked are almost textbook setups and if you compare it to the one from yesterday it looks completely different. {image} Be aware that this is no signal service - just a place where I share my thougts....
I appreciate your insight. Thanks.
  • #29
  • Apr 29, 2014 5:31am Apr 29, 2014 5:31am
I have been away from civilization deep in the mountains in central Lombok for the last few days but now back to stable wifi.

Currently, I see 3 interesting setups amomgst my pairs.

NZDUSD 0.8517 is a really strong level for either a long or short trade - depending on the price action.
USDCAD 1.106 is where I have my limit sell order.
USDJPY currentl around 102.6. I want to see a decent break of this level and then willing to buy a retest.

Enjoy your trading week!
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Learn from yesterday, live for today and hope for tomorrow.
  • #30
  • Apr 30, 2014 11:34pm Apr 30, 2014 11:34pm
Earlier this week I tweeted that I believed GBPUSD looks like it topped out around 1.684, so I started looking for short setups.

I got my first Entry with a perfect setup. A retest of previous resistance as support. 1 Hour later the 30min chart posted an enfulfing-pinbar at the same price level - that's where I added to my position. Price fell down but kept bouncing off 1.6805. This is an example why you use reasonable places for your SL and don't just put it to break-even.

My analysis said that prices are going to fall further, so I found a 3rd entry after a break and retest of 1.6818. However, price just kept hovering around that 1.6805 and BIG USD news were coming up, so I exited 75% of all my open positions and pulled my SL to a reasonable close place. News came out and took my SL, leaving me with an overall nice profit and enough to call it a week
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Learn from yesterday, live for today and hope for tomorrow.
  • #31
  • May 1, 2014 2:17am May 1, 2014 2:17am
Very interesting thread, I do like your approach to trading and travelling.
Fail better.
  • #32
  • May 1, 2014 6:23am May 1, 2014 6:23am
Quoting LarryDarrell
Very interesting thread, I do like your approach to trading and travelling.

Thank you. I am hoping to inspire a few people to make a change in their lifes and to follow their dreams too. It's possible with trading. Today I have been working from here - not too bad ;-)
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Learn from yesterday, live for today and hope for tomorrow.
  • #33
  • May 4, 2014 3:32am May 4, 2014 3:32am
I am back in Bali for a few days. I just did my Sunday's analysis for the upcoming week. There are a few very interesting price levels on some pairs.
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Learn from yesterday, live for today and hope for tomorrow.
  • #34
  • May 6, 2014 12:03am May 6, 2014 12:03am
It happened within 15 minutes - price hit the limit short order and went straight to profit. The drawdown was below 2 pips.

When you learn how to identify price levels like this one, you can trade with a tiny stop loss and therefore aim for a high reward:risk ratio, enabling you to make A Lot of money even with a low winrate! In my opinions, this is the key to success in trading!

It's Tuesday midday here in central Java, Indonesia and I could end my week now. Isn't this why we start getting into the trading business ​
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Learn from yesterday, live for today and hope for tomorrow.
  • #35
  • May 6, 2014 12:22am May 6, 2014 12:22am
Quoting TraderRolf
The drawdown was below 2 pips. When you learn how to identify price levels like this one, you can trade with a tiny stop loss and therefore aim for a high reward:risk ratio, enabling you to make A Lot of money even with a low winrate! {image}
Hi,
I agree on the R:R statement, but what kind of sl did you use there? The level was there (actually I was lucky, my sl for a short from 9447 was at 932, and so missed by 4 pips), but a spike like that can easily just get 5 pips higher and perform the same high speed turn. With as of now 45 pips profit to make 'a lot of money', you'd need a quite decent position size for anything over a 5-10 pip sl.
LD
Fail better.
  • #36
  • May 6, 2014 12:35am May 6, 2014 12:35am
Quoting LarryDarrell
{quote} Hi, I agree on the R:R statement, but what kind of sl did you use there? The level was there (actually I was lucky, my sl for a short from 9447 was at 932, and so missed by 4 pips), but a spike like that can easily just get 5 pips higher and perform the same high speed turn. With as of now 45 pips profit to make 'a lot of money', you'd need a quite decent position size for anything over a 5-10 pip sl. LD
I got in a .93130 with a SL at .932 (~10 pip stop) and two targets .929 and .9279. This gives me an overall reward:risk ratio of 2.75.

And you are totally right, moves like this can easily take out your SL and still go straight to your target afterwards or not reach your entry. But having a high RRR allows you to trade with a low winrate. (<40%)
Many people cannot trade with low winrate because psychologically it might seem you are loosing a lot of trades, but in the end it's all about probabilities and long term perspective.
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Learn from yesterday, live for today and hope for tomorrow.
  • #37
  • May 6, 2014 12:59am May 6, 2014 12:59am
Ok, thanks for the clarification.
Looking at my trade another way, I made the same assessment, that 932 wouldn't be hit. In hindsight: why didn't I place a new trade just there... .
Fail better.
  • #38
  • May 7, 2014 9:29am May 7, 2014 9:29am
Just had another quick trade. short USD/JPY

Very nice level and straight to target. It was triggered right when news came out (Yellen Speach) so there was a bit more volatility.

I abandoned my initial thought of holding a USDJPY position further down as we are running into some previous lows that might act as support. better to take it step by step.

You can add me in skype if you want. We have a small traders-chat group where we discuss setups, ideas and more.

By the way, if there are any traders from Jakarta, Tokyo, Kyoto or Bangkok around, and interested in a small get together, please contact me :-)
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Learn from yesterday, live for today and hope for tomorrow.
  • #39
  • May 8, 2014 9:51am May 8, 2014 9:51am
Woke up this morning and my AUDUSD limit buy went straight to target. That's a good way to start the day.
Risk:Reward on this one 1:3

And heads up for the USDCAD. It's currently moving into big previous swing low. FIB 61.8 also meeting there.
Might create some nice trading opportunities soon.
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Learn from yesterday, live for today and hope for tomorrow.
  • #40
  • May 8, 2014 10:04am May 8, 2014 10:04am
Loonie is at the bottom of a daily demand zone. I went long expecting a bounce. We'll see.
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