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  • #891,041
  • Apr 18, 2014 12:27am Apr 18, 2014 12:27am
Quoting Davit
{quote} 100% agree. Taking loss at amount set for the trade is the key.This is form of stop loss only not actual hard stop which is a + because you are not victimized by constant spikes. Regards
The only issue is where to set those fuckin' SLs? They always fall short of a couple of pips.

The best solution to this is to wait until market touches a long-term reversal level. 100 to 200 pip sl and from there we go.
The Thief of Wall Street
  • #891,042
  • Apr 18, 2014 12:38am Apr 18, 2014 12:38am
Quoting Chicky
{quote} The only issue is where to set those fuckin' SLs? They always fall short of a couple of pips. The best solution to this is to wait until market touches a long-term reversal level. 100 to 200 pip sl and from there we go.
Hi Chicky
I tackled SL from 2 different angles
1. Set amount not pips
2.Entries at exhaustion points based on 2nd and 3rd BB deviations.
3.No hard SL

Once PA is inside BB 2nd-3rd then it has huge possibility to spring back to 20 moving average.Price likes to come to 20day moving average and extreme deviations are acting like rubber bands that stored energy wants to be back to neutral
This is why I believe one can counter trade profitably even against the trend because price rarely goes up or down straight (also use Harmonics and fundamentals)
Notice I use RSI 8 and not 14
Trades are only taken from daily chart NO exceptions

BB system is my modified version of Kathy Lien system.I have ton of respect for her.True professional.
Examples of exhaustion points
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.daily.png Size: 49 KB
In trading, you have to be defensive and aggressive at the same time
  • #891,043
  • Apr 18, 2014 1:25am Apr 18, 2014 1:25am
Quoting Davit
{quote} Hi Chicky I tackled SL from 2 different angles 1. Set amount not pips 2.Entries at exhaustion points based on 2nd and 3rd BB deviations. 3.No hard SL Once PA is inside BB 2nd-3rd then it has huge possibility to spring back to 20 moving average.Price likes to come to 20day moving average and extreme deviations are acting like rubber bands that stored energy wants to be back to neutral This is why I believe one can counter trade profitably even against the trend because price rarely goes up or down straight (also use Harmonics and fundamentals)...
Davit,

PA = Price Action?

You only use BB and RSI for countertrend trades?

Looks like a beautiful and simple system.
Go with the flow.
  • #891,044
  • Edited 1:41am Apr 18, 2014 1:29am | Edited 1:41am
Quoting ahteddy
{quote} Davit, PA = Price Action? You only use BB and RSI for countertrend trades? Looks like a beautiful and simple system.
PA price action correct
I use lot of fundamentals as well.You need tech and fundamentals both equally important.I am not advocating all Fundies or all Charts.I firmly believe good trader should use both specially when there is news event every week.
If you like it demo it and see it for yourself
Go to youtube type in Kathy lien Bollinger System and watch her presentation.She is fantastic.
here it is
Inserted Video


Just want to add out of all indicators I used before I like BB and RSI the best.BB is highly profitable tool if used correctly.
In trading, you have to be defensive and aggressive at the same time
  • #891,045
  • Apr 18, 2014 1:34am Apr 18, 2014 1:34am
Time to sit back/relax and be trade-free for 4 days. Shit will happen today/monday. (When does market open?)

Attached Image
A word to the wise ain't necessary - it's the stupid ones that need advice
  • #891,046
  • Apr 18, 2014 1:36am Apr 18, 2014 1:36am
Quoting Nocturnes
Time to sit back/relax and be trade-free for 4 days. Shit will happen today/monday. (When does market open?) {image}
you are a fun guy
In trading, you have to be defensive and aggressive at the same time
  • #891,047
  • Apr 18, 2014 1:42am Apr 18, 2014 1:42am
Quoting Davit
{quote} PA price action correct I use lot of fundamentals as well.You need tech and fundamentals both equally important.I am not advocating all Fundies or all Charts.I firmly believe good trader should use both specially when there is news event every week. If you like it demo it and see it for yourself Go to youtube type in Kathy lien Bollinger System and watch her presentation.She is fantastic. here it is https://www.youtube.com/watch?v=UJJuwnLxc7o
Davit,

Thanks for sharing.

I have been a trend follower since 2008...
Thinking to diversify my time. Trends don't come often.

Time to expand and consider better ROI.

I'll keep you updated on my opinions/trades after understanding Kathy's BB system.

Cheers and a pint to ya.

Go with the flow.
  • #891,048
  • Apr 18, 2014 1:46am Apr 18, 2014 1:46am
Quoting Davit
{quote} you are a fun guy
It makes it a bit more fun...i do trade au serieux and i also like your way of thinking but i love a funny gif from time to time...

You know when things get too serious and the market doesn't move an inch...with an empty calender...i go nuts

Attached Image
A word to the wise ain't necessary - it's the stupid ones that need advice
  • #891,049
  • Apr 18, 2014 1:48am Apr 18, 2014 1:48am
Quoting Nocturnes
{quote} It makes it a bit more fun...i do trade au serieux and i also like your way of thinking but i love a funny gif from time to time... You know when things get too serious and the market doesn't move an inch...with an empty calender...i go nuts {image}

OMG her naked doing that would be fantastic
In trading, you have to be defensive and aggressive at the same time
  • #891,050
  • Apr 18, 2014 1:53am Apr 18, 2014 1:53am
Quoting ahteddy
{quote} Davit, Thanks for sharing. I have been a trend follower since 2008... Thinking to diversify my time. Trends don't come often. Time to expand and consider better ROI. I'll keep you updated on my opinions/trades after understanding Kathy's BB system. Cheers and a pint to ya.
Truth is 70% of Forex is in a range true on higher time frame as well.
Lets look at fundie perspective
When head of ECB says we will use unconventional methods to weaken and lower Euro you better pay attention!EZ needs lower currency to grow.Its as simple as that. So by selling you are on the right side of undercurrent trend that is the trend yet to be formed!
Regards
In trading, you have to be defensive and aggressive at the same time
  • #891,051
  • Apr 18, 2014 1:55am Apr 18, 2014 1:55am
Quoting ahteddy
{quote} Davit, Thanks for sharing. I have been a trend follower since 2008... Thinking to diversify my time. Trends don't come often. Time to expand and consider better ROI. I'll keep you updated on my opinions/trades after understanding Kathy's BB system. Cheers and a pint to ya.
Hi

I am using Kathy BB system.. this only works just 5 mins or after major announcement such as Interest Rate, NFP, CPI and Housing.
Most of the times 40% it works, but despite trying to capture 50 pips, mostly 25 % is attendable. Must have patience and guts to endure the extreme hearbeats of the chart
  • #891,052
  • Apr 18, 2014 1:58am Apr 18, 2014 1:58am
Quoting Davit
{quote} Truth is 70% of Forex is in a range true on higher time frame as well. Lets look at fundie perspective When head of ECB says we will use unconventional methods to weaken and lower Euro you better pay attention!EZ needs lower currency to grow.Its as simple as that. So by selling you are on the right side of undercurrent trend that is the trend yet to be formed! Regards
+1

To grow euro can't be too high...short said...most people overlook that part. (kinda important)
A word to the wise ain't necessary - it's the stupid ones that need advice
  • #891,053
  • Apr 18, 2014 2:02am Apr 18, 2014 2:02am
Quoting Nocturnes
{quote} +1 To grow euro can't be too high...short said...most people overlook that part. (kinda important)
http://www.bis.org/review/r140404a.htm
his actual speech
Hence, we do not exclude further monetary policy easing and we firmly reiterate that we continue to expect the key ECB interest rates to remain at present or lower levels for an extended period of time. This expectation is based on an overall subdued outlook for inflation extending into the medium term, given the broad-based weakness of the economy, the high degree of unutilised capacity and subdued money and credit creation. At the same time, we are closely following developments on money markets. The Governing Council is unanimous in its commitment to using also unconventional instruments within its mandate in order to cope effectively with risks of a too prolonged period of low inflation.

As head of ECB he can't spell out obviously but reading between lines he admits poor economy and low inflation and willing to take action.
You put that together its very dovish statement meaning he wants lower Euro.
In trading, you have to be defensive and aggressive at the same time
  • #891,054
  • Apr 18, 2014 2:09am Apr 18, 2014 2:09am
Quoting Davit
{quote} http://www.bis.org/review/r140404a.htm his actual speech Hence, we do not exclude further monetary policy easing and we firmly reiterate that we continue to expect the key ECB interest rates to remain at present or lower levels for an extended period of time. This expectation is based on an overall subdued outlook for inflation extending into the medium term, given the broad-based weakness of the economy, the high degree of unutilised capacity and subdued money and credit creation. At the same time, we are closely following developments...
good observation's mate.

expect action in next week, I am anticipating at least 200-300 pips falls in coming weeks.
  • #891,055
  • Apr 18, 2014 2:53am Apr 18, 2014 2:53am
Quoting hoom
I need a group of 10 to open 100 lot simultanously shorting UJ . c'mon! 5 pips only guys .
Would be fun if you could trust people, and do it with a 1000 lots.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #891,056
  • Apr 18, 2014 3:08am Apr 18, 2014 3:08am
It's good Friday now, or is it bad Friday?
Depends on which side of the trade you are!
New voice message: Why are you calling me? If I need you, I'll call you!
  • #891,057
  • Apr 18, 2014 3:19am Apr 18, 2014 3:19am
Quoting KillerWhale
It's good Friday now, or is it bad Friday? Depends on which side of the trade you are!
It's kind of funny that good Friday is always on a Friday. Why don't we have a good Thursday? Or Wednesday maybe?
What about good Monday?
Did the bible influence the world so much that even trading (ruthless number guys) has come to a halt?

I'm pretty sure that the real big traders don't give a damn about good Friday, so why in the world are we keeping these silly days off?
New voice message: Why are you calling me? If I need you, I'll call you!
  • #891,058
  • Apr 18, 2014 3:29am Apr 18, 2014 3:29am
In the States people are pretty religious...and afterall, it is the day that Jesus died on the cross.....well, according to the legend. I'm not religious.

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A word to the wise ain't necessary - it's the stupid ones that need advice
  • #891,059
  • Edited 4:42am Apr 18, 2014 3:33am | Edited 4:42am
Quoting gatorinla
{quote} just remember the wtf candle last month. we may bounce around here for months. the set up i have are early and either can put us back to 396x without a break of the high and still be valid. if it would break by a few pips, then a new low, it will just distort it a little.
Morning G
Totally agree with u , Why?
I Checked e and us index
US Index weekly almost getting ready to reach the bottom to Shoot UP
euro 4h and daily some room to up still

The Plan i will b waiting us index reach the bottom on 4h then sell euro "
Further development will post when time come on my chart
Well done G

Edit:
But also to remember u and myself market other name Mr Change
  • #891,060
  • Apr 18, 2014 3:37am Apr 18, 2014 3:37am
The first years I remember going to church on Sunday my parents told me to put my hand deep in the collection bag so that our neighbors in the bench wouldn't hear that I had only coins to offer in stead of paper money.

But later on I turned that into my favor by taking money out of the bag, preferably paper money.
And I prayed, sorry God, but I think I need it more then you do, after all, there are no shops in heaven right?
New voice message: Why are you calling me? If I need you, I'll call you!
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