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Davit's Confluence Trading

  • #901
  • May 30, 2014 12:44am May 30, 2014 12:44am
Quoting HCGroup
EA pending buy order @ 1.4566 based on the most important tool which is support (my thought) monitoring this pair cause i don't want to miss this train and if price can't reach that level and decides to start the upmove at higher levels, after seeing some PA confirmation and Candlestick patterns in lower TF, I'll long it manually. {image}
Agree its at support level now but also harmonically Its forming a bullish Bat
Attached Image (click to enlarge)
Click to Enlarge Name: euraud.daily.png Size: 49 KB
In trading, you have to be defensive and aggressive at the same time
  • #902
  • May 30, 2014 1:04am May 30, 2014 1:04am
Quoting Davit
{quote} Agree its at support level now but also harmonically Its forming a bullish Bat {image}
agree with your bat pattern. where do you see your first tp?
Do you agree with 4665 as 1st tp?
  • #903
  • May 30, 2014 1:13am May 30, 2014 1:13am
Quoting HCGroup
{quote} agree with your bat pattern. where do you see your first tp? Do you agree with 4665 as 1st tp?
I am heavy short on A/CHF
TP 8290'sh or even lower

No position on EA since I already mentioned its same as A/CHF.Its cheaper for me trading A/CHF
AU going down below 93 will help our positions
In trading, you have to be defensive and aggressive at the same time
  • #904
  • May 30, 2014 1:20am May 30, 2014 1:20am
Quoting Davit
{quote} I am heavy short on A/CHF TP 8290'sh or even lower No position on EA since I already mentioned its same as A/CHF.Its cheaper for me trading A/CHF AU going down below 93 will help our positions
in H1 seems your positions start to make you some money
wish you green pips as always my friend
  • #905
  • May 30, 2014 1:24am May 30, 2014 1:24am
Quoting Davit
{quote} I am heavy short on A/CHF TP 8290'sh or even lower No position on EA since I already mentioned its same as A/CHF.Its cheaper for me trading A/CHF AU going down below 93 will help our positions
Curious Davit, Why that TP? First daily bar support or just playing it safe?
Ghost Rider - WWTBMD?
  • #906
  • May 30, 2014 1:36am May 30, 2014 1:36am
Quoting albchr
{quote} Curious Davit, Why that TP? First daily bar support or just playing it safe?
BB center line 20MA
Set it at 8280 which will give me over 300pips on 8 positions.
So the idea is more realistic TP but with multiple positions which equals double distance or triple on few positions but less odds of it happening.
This is why I like range trading.Hit hard and get out.
In trading, you have to be defensive and aggressive at the same time
  • #907
  • May 30, 2014 1:41am May 30, 2014 1:41am
Quoting HCGroup
{quote} in H1 seems your positions start to make you some money wish you green pips as always my friend
almost all green.Lets see what happens.
green pips

Lets not forget the beast
Its going up fast
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.daily.png Size: 46 KB
In trading, you have to be defensive and aggressive at the same time
  • #908
  • May 30, 2014 1:45am May 30, 2014 1:45am
Chris heads up on G/CHF
We might get double dipping shorts again
Set your limits and forget about it
In trading, you have to be defensive and aggressive at the same time
  • #909
  • May 30, 2014 1:50am May 30, 2014 1:50am
Quoting Davit
{quote} BB center line 20MA Set it at 8280 which will give me over 300pips on 8 positions. So the idea is more realistic TP but with multiple positions which equals double distance or triple on few positions but less odds of it happening. This is why I like range trading.Hit hard and get out.
Gotcha Thanks for your insights.

We play a little different there but not much. With multiple positions I'll bank some where you do (first support), and cover the rest to let them run. 2nd TP for me would be the 50%.

I'm really working on longer term patience to targets. I have the mindset for it, but not the practice of it down yet. This is just me of course but, I find banking some and covering others at BE+ some, allows me to not worry as much and wait longer...lol
Ghost Rider - WWTBMD?
  • #910
  • May 30, 2014 1:53am May 30, 2014 1:53am
Quoting Davit
Chris heads up on G/CHF We might get double dipping shorts again Set your limits and forget about it
Yeah, I got in a tad early with some small ones now underwater .........but I've set a couple larger ones above again. The gift that just keeps giving.

AUD/CHF is looking happier now.
Ghost Rider - WWTBMD?
  • #911
  • May 30, 2014 2:00am May 30, 2014 2:00am
I am really weak in moving sl to BE or BE+some pips
every time i do that, 100% (better to say 150% haha) price will return and hit it.
No matters price how far is from my BE, 30-50-80-100-150 pips, when i decide to do not take my great profit and let my profit grow and set sl to be+some, it returns back and hit it
  • #912
  • May 30, 2014 2:06am May 30, 2014 2:06am
Quoting HCGroup
I am really weak in moving sl to BE or BE+some pips every time i do that, 100% (better to say 150% haha) price will return and hit it. No matters price how far is from my BE, 30-50-80-100-150 pips, when i decide to do not take my great profit and let my profit grow and set sl to be+some, it returns back and hit it
My solution is take your profits and if price goes up then sell again.
I did that entire month on NU on every swing.
I am sure I missed some pips but not that much.Focus on swing 80-100pips
You will never get 100% of the move.Taking even 50% is great.
In trading, you have to be defensive and aggressive at the same time
  • #913
  • May 30, 2014 2:10am May 30, 2014 2:10am
Quoting HCGroup
I am really weak in moving sl to BE or BE+some pips every time i do that, 100% (better to say 150% haha) price will return and hit it. No matters price how far is from my BE, 30-50-80-100-150 pips, when i decide to do not take my great profit and let my profit grow and set sl to be+some, it returns back and hit it
That happens a lot HC. It really depends on where you got in (and what pair and ADR) to decide "when" to set the SL.

For example, let's use a short play here. If I nailed entry at the top or very close in a prime location and the ADR is say 60, then I wait until at least 60 to even think about the SL. If I entered lower than top or prime, then I have to wait until it's deeper in to set the SL. This can be a touch riskier in that you now have to monitor it to be sure your on the right side of a "strong" move. If it hits support and turns hard, I'll just bank it and await another entry.

Davit is also 100% correct above. Nobody ever went broke taking profit.

It's a personal thing with me as I watch folks like CNT just live out multiple TP's on a good run. I can't be yet, but I always work toward being a position trader.
Ghost Rider - WWTBMD?
  • #914
  • May 30, 2014 2:14am May 30, 2014 2:14am
All green now
over 50pips in profit but that's just baby stage
In trading, you have to be defensive and aggressive at the same time
  • #915
  • May 30, 2014 2:15am May 30, 2014 2:15am
Quoting Davit
{quote} My solution is take your profits and if price goes up then sell again. I did that entire month on NU on every swing. I am sure I missed some pips but not that much.Focus on swing 80-100pips
100% agree with you, it seems that is not my trading style because i have record of 0% success on it.
never been successful to manage growing a position over 200 pips, that few time which that happened (more than 200 pips in a trade) i manually took my profit and dominate my greed.
From today and also after your kindly advise, i promise myself to forget about that style which isn't proper for me and i am weak in it.
when market gives you a gift, accept it otherwise ....
  • #916
  • May 30, 2014 2:20am May 30, 2014 2:20am
Lalu
Love your harmonic inputs.Feel free to post whatever you see worth while.
In trading, you have to be defensive and aggressive at the same time
  • #917
  • May 30, 2014 2:21am May 30, 2014 2:21am
Quoting albchr
{quote} That happens a lot HC. It really depends on where you got in (and what pair and ADR) to decide "when" to set the SL. For example, let's use a short play here. If I nailed entry at the top or very close in a prime location and the ADR is say 60, then I wait until at least 60 to even think about the SL. If I entered lower than top or prime, then I have to wait until it's deeper in to set the SL. This can be a touch riskier in that you now have to monitor it to be sure your on the right side of a "strong" move. If it hits support and turns...
Thanks dear Chris for your explanation, but let me read your comment again, i think i didn't completely understand your training course.
You mean you watch ADR, and if for example ADR is 60, you wait your position goes 60pips in profit and then set a sl at BE ?
  • #918
  • May 30, 2014 2:25am May 30, 2014 2:25am
Quoting Davit
Lalu Love your harmonic inputs.Feel free to post whatever you see worth while.
and love your trading style, like your chart style, like your personality style
  • #919
  • May 30, 2014 2:29am May 30, 2014 2:29am
Quoting HCGroup
{quote} Thanks dear Chris for your explanation, but let me read your comment again, i think i didn't completely understand your training course. You mean you watch ADR, and if for example ADR is 60, you wait your position goes 60pips in profit and then set a sl at BE ?
If I got in at the top and ADR is 60, I wait until at least 60 to start thinking about setting the SL. I won't automatically set it when at 60 pips in profit. PA at that point has a lot to do with it for me.

I'm a PASR trader with mostly naked charts. Now I'm learning harmonics as it fits my logic so well.

Setting a SL this way is just a personal approach for me and not a hard fast rule for trading.
Ghost Rider - WWTBMD?
  • #920
  • May 30, 2014 2:30am May 30, 2014 2:30am
Quoting Davit
Lalu Love your harmonic inputs.Feel free to post whatever you see worth while.
I second that
Ghost Rider - WWTBMD?
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