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Magnetic Line Trading with KiwiOz

  • #561
  • Jun 23, 2014 5:56am Jun 23, 2014 5:56am
Quoting Nagy Attila
DAX30 Looks like we might goo higher Looks Like a H&S whit green but whit a trangle breakout on the Menu {image}
Your 3 kings might be right Tony, so I will look carefully to close my shorts in time when the wind of change kicks in. Thanks

Happy Trades
Focus only on what truly matters!
  • #562
  • Jun 23, 2014 7:40am Jun 23, 2014 7:40am
SPX
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Too Much Is Never Enough
  • #563
  • Jun 23, 2014 8:58pm Jun 23, 2014 8:58pm
GOLD
Super solid resistance at 1370. A clean break there & after that, clear air to 1600..
Same applies for Silver..
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  • #564
  • Jun 23, 2014 9:05pm Jun 23, 2014 9:05pm
Ozzie speculation..
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  • #565
  • Jun 23, 2014 9:06pm Jun 23, 2014 9:06pm
Eur/Aud speculation...
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  • #566
  • Jun 23, 2014 9:46pm Jun 23, 2014 9:46pm
GOLD.. We have not had a retrace of last weeks move yet. Price could come back to 1270 today.
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  • #567
  • Jun 24, 2014 5:05am Jun 24, 2014 5:05am
SPX500

Some short
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Too Much Is Never Enough
  • #568
  • Jun 25, 2014 3:29am Jun 25, 2014 3:29am
Quoting Nagy Attila
SPX500 Some short {image}
SPX500

trade lock'd

expecting lower lows
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Too Much Is Never Enough
  • #569
  • Jun 25, 2014 3:36am Jun 25, 2014 3:36am
Quoting Nagy Attila
{quote} SPX500 trade lock'd expecting lower lows {image}
Be careful.. 1H chart candles are still above 50 SMA and price is higher than opening.. and the bigger picture still is an uptrend.. so right now and maybe for the rest of the day shorting on SPX500 wouldnt be wise..

Happy Trades
Focus only on what truly matters!
  • #570
  • Jun 25, 2014 3:38am Jun 25, 2014 3:38am
Quoting Ata-Turkoglu
{quote} Be careful.. 1H chart candles are still above 50 SMA and price is higher than opening.. and the bigger picture still is an uptrend.. so right now and maybe for the rest of the day shorting on SPX500 wouldnt be wise.. Happy Trades
Thanks mate for the heads upp but im short from yesterday from 1959,9 and trade already lock'd.So if price trades higher Im out whit a small profit if not then im letting itt run.Sooo lets see the outcome
Too Much Is Never Enough
  • #571
  • Jun 25, 2014 3:43am Jun 25, 2014 3:43am
Quoting Nagy Attila
{quote} Thanks mate for the heads upp but im short from yesterday from 1959,9 and trade already lock'd.So if price trades higher Im out whit a small profit if not then im letting itt run.Sooo lets see the outcome
Okeedokee, understood captain

Happy Trades
Focus only on what truly matters!
  • #572
  • Jun 25, 2014 7:50am Jun 25, 2014 7:50am
Quoting Nagy Attila
{quote} SPX500 trade lock'd expecting lower lows {image}
Yep. Dax n SnP seeking lower targets.
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  • #573
  • Jun 25, 2014 10:09pm Jun 25, 2014 10:09pm
GOLD>>
I'm only playing this short to 1308..
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  • #574
  • Jun 26, 2014 2:52am Jun 26, 2014 2:52am
Quoting KiwiOz
GOLD>> I'm only playing this short to 1308.. {image} {image}
Ding Ding... A retrace back to 1313 then lets see if there is more to come.??
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  • #575
  • Jun 26, 2014 2:57am Jun 26, 2014 2:57am
Hi Ian,

One question: I noticed that you generally detect 2 targets with magnetic lines.. so when the candles touch the first target what is your first reaction? Are you closing that trade and open a scalper in the opposite direction to get some extra pips? Or are you just waiting till the second target is hit? I know there are many many scenarios but just for this example what would be your advice for an aggressive scalper like me?

Happy Trades
Focus only on what truly matters!
  • #576
  • Jun 26, 2014 3:07am Jun 26, 2014 3:07am
Quoting Ata-Turkoglu
Hi Ian, One question: I noticed that you generally detect 2 targets with magnetic lines.. so when the candles touch the first target what is your first reaction? Are you closing that trade and open a scalper in the opposite direction to get some extra pips? Or are you just waiting till the second target is hit? I know there are many many scenarios but just for this example what would be your advice for an aggressive scalper like me? Happy Trades
Hi Ata. I'm a pretty hopeless scalper so I either let the trade ride or take profit at the first target then wait to get in again a little higher for the second target.
I am working on hedging good trades for the retracements though.
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  • #577
  • Jun 26, 2014 4:20am Jun 26, 2014 4:20am
Many thanks for your advice Ian,

Well I love hedging, but you can guess opening a hedge is just like closing a trade. The only difference is when you close a negative trade you have a minus trade on your history. If you don't want minus trades in your history hedging is nice option (best example: if you are a fund manager and looking for rich customers who you need to convince then a negative history is not good for you, or if you want to show off saying: look I have no losing trades) so outside of those hedging is just a waste of time and energy. For me hedging is just the better option to closing a trade (or to being stopped out). The last time I checked all my hedges, I found out if I just would have closed them I would have much much more money in my account, but since my goal is to be a fund manager, I need to keep my history of losing trades limited)

If you are sure that your trade is in wrong direction just close the damn trade and go for the opposite at the time you are sure of. Never taking a trade if one has bad feelings in his stomach even if the majority and all signals votes for it and never making assumptions on what will come next is also crucial.

Long story short: I am using the magnetic lines with caution but they really give me advantage along with my other strategies.

I draw my lines on a 15 min. chart. As soon as first target is hit and a retrace starts I go to 1 min time frame and start drawing target lines as soon as the new tops and bottoms builds itself on it. So I try to calculate where the retrace target would end and then would try a scalp towards that direction. In the meantime I watch back and forth the 15 min. and 1 min. charts so I can get out early from the scalp.

All what I said here I apply mainly on DAX, Gold, GJ, EJ, UJ...

Happy Trades
Focus only on what truly matters!
  • #578
  • Jun 26, 2014 4:44am Jun 26, 2014 4:44am
Quoting Ata-Turkoglu
Many thanks for your advice Ian, Well I love hedging, but you can guess opening a hedge is just like closing a trade. The only difference is when you close a negative trade you have a minus trade on your history. If you don't want minus trades in your history hedging is nice option (best example: if you are a fund manager and looking for rich customers who you need to convince then a negative history is not good for you, or if you want to show off saying: look I have no losing trades) so outside of those hedging is just a waste of time and energy....
As you have acknowledged, Hedging a losing trade is a waste of time. However, hedging a winning trade is often a way of accumulation. Especially if you are on to a good trend you have confidence in. hedge the retraces & add trades when the retrace is over. The main thing is not to be too greedy with the hedge trade.
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  • #579
  • Jun 26, 2014 5:04am Jun 26, 2014 5:04am
Quoting KiwiOz
{quote} As you have acknowledged, Hedging a losing trade is a waste of time. However, hedging a winning trade is often a way of accumulation. Especially if you are on to a good trend you have confidence in. hedge the retraces & add trades when the retrace is over. The main thing is not to be too greedy with the hedge trade.
Actually that what you call "accumulation" is an illusion.

Here I will give a Dax example:

With Hedging:
1) Lets say you enter a long winning trade at 9120.
2) Then at price 9150 you hedge with a short trade in opposite direction. -> your profit so far is +30 points
3) Price goes back to 9130. You close your short hedge and now you are long again. -> your profit is still +30 points
4) Price goes to 9190 and you close your long winning trade. -> your profit still was +30 at 9130 and from there to 9190 you gained another +60 points.
5) Overall profit: +90 points

Without Hedging:
1) Entering a long winning trade at 9120.
2) Then at price 9150 you close that trade and open short trade in opposite direction. -> your profit so far is +30 points
3) Price goes back to 9130. You close your short trade and open a long trade. -> your profit has become now +30 +20 points: +50 points
4) Price goes to 9190 and you close your long winning trade. -> your profit is now +50 +60 points: 110 points
5) Overall profit: +110 points

I hope I could explain myself. No matter what if you want to earn money hedging is not the holy grail.

Happy Trades
Focus only on what truly matters!
  • #580
  • Jun 26, 2014 5:32am Jun 26, 2014 5:32am
Its time to goo long on DAX ??!!
Too Much Is Never Enough
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