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Trading is as simple as ABCD

  • #581
  • Jun 26, 2014 4:56am Jun 26, 2014 4:56am
Quoting pres78
Live EURAUD short entry 4470, SL 4475. Down through the 75 level with divergence. We've only moved half the 60 day ADR so we will see whether this runs or not. Already at 1.5:1 so out on part 1. Part 2 ay original SL but protected with worst case net 0.5 risk gain. {image}
No runner just yet but no loss either. Rather than BE I bank 50% of my initial risk so all good. Other trades open but off to work now. Thanks goodness for MT4 on my iPhone .
Today's zone = Tomorrow's opportunity!
  • #582
  • Jun 26, 2014 4:58am Jun 26, 2014 4:58am
Yep I think these setups are there for the taking thats for sure just need the discipline to stick to my plan, very pleased with my discipline today, behaved very well if I say so myself.

Have changed my monitoring setup now too only have one pair with top trenders on it probably will stick it on number 4, so I can see whats happening a lot clearer.

Here it is. Things change quickly on the 1 minute as demonstrated this morning so need to react quickly and monitoring the top 4 trenders worked well today, just have to be prepared to switch quickly as they change.
Attached Image (click to enlarge)
Click to Enlarge Name: New monitoring template.PNG Size: 81 KB
Feel the Fear and do it anyway!!!
  • #583
  • Jun 26, 2014 5:22am Jun 26, 2014 5:22am
Quoting clivepackham
Another one got away at BE so I think I'm getting there with catching the little so and so's now its just a metter of holding on, isn't it??? Going to BE too soon I guess but early days yet but my discipline was a lot better today so gonna persevere also my top trenders worked well today and my entries were spot on too. Very interesting that the only pair in both my 5 min and 1 min top trenders has pulled through so far, thats interesting, that could be the key to capturing the London beakout. {image} Pleased with todays session, learnt a lot now...
Your post yesterday on the change to your trading practice that highlighted the numerous bounces off SR areas. That's exactly the same principle that applies to stops/to BE.

The trade entry level around the break of B point will often (but not always) get tested so you need to be able to withstand one HL/LH test of that entry point. As mentioned before if price gets to around +10 and comes back to BE then goes again that's when I am looking to move stop.

If you are taking half off at say +10 and there hasn't been a pullback then you could move stop smaller but not to BE that could likely get tagged. Sometimes it'll run to bigger move and you can then exit in full/reduce stop.
  • #584
  • Jun 26, 2014 5:29am Jun 26, 2014 5:29am
Quoting pres78
Live EURAUD short entry 4470, SL 4475. Down through the 75 level with divergence. We've only moved half the 60 day ADR so we will see whether this runs or not. Already at 1.5:1 so out on part 1. Part 2 ay original SL but protected with worst case net 0.5 risk gain. {image}
Nice one pres78

Gave a couple of lower highs before the W pivot, S1 support area failed (lower highs approaching a key level often sees level fail lower). EUR staying weakest on CM and AUD one of the strongest should = move lower.
  • #585
  • Jun 26, 2014 6:53am Jun 26, 2014 6:53am
Quoting pres78
Didn't take this but it was a great entry off the 75 level on GBPAUD. Would have been 4:1 already... just shy of 4:1 at the 8100 level. Does that sound like safe and good R:R / MM... my old brain says yes. {image}
That is a great entry and very much with our system, strong trending pair, 14 CCI goes -100, break and retest of 2 key levels previous high and a 25 level, typical AA entry. Great stuff!!
Feel the Fear and do it anyway!!!
  • #586
  • Jun 26, 2014 8:40am Jun 26, 2014 8:40am
I only like trading a couple of currencies...is there a way to get an alert when those certain pairs get into one of the top 4? That would be awesome if we could.
  • #587
  • Jun 26, 2014 4:49pm Jun 26, 2014 4:49pm
Quoting blackridge
I only like trading a couple of currencies...is there a way to get an alert when those certain pairs get into one of the top 4? That would be awesome if we could.
Will have a chat with my friend Ted see what can be done.
Feel the Fear and do it anyway!!!
  • #588
  • Jun 26, 2014 5:38pm Jun 26, 2014 5:38pm
Quoting clivepackham
Yep I think these setups are there for the taking thats for sure just need the discipline to stick to my plan, very pleased with my discipline today, behaved very well if I say so myself. Have changed my monitoring setup now too only have one pair with top trenders on it probably will stick it on number 4, so I can see whats happening a lot clearer. Here it is. Things change quickly on the 1 minute as demonstrated this morning so need to react quickly and monitoring the top 4 trenders worked well today, just have to be prepared to switch quickly...
Very interesting to see the 4 side by side
  • #589
  • Jun 26, 2014 7:14pm Jun 26, 2014 7:14pm
String of JPY news, EURJPY set-up... Pulled the trigger on yet another test trade. Going to take this puppy live soon.

Attached Image (click to enlarge)
Click to Enlarge Name: eurjpyprimem1.png Size: 95 KB
Today's zone = Tomorrow's opportunity!
  • #590
  • Jun 27, 2014 1:37am Jun 27, 2014 1:37am
Quoting clivepackham
{quote} Will have a chat with my friend Ted see what can be done.
If you're going for an alert why not go the whole hog? Try for something that has the trade criteria:

- cci210 at +100, -100 or say hit that level in the last 10 candles (have number adjustable as we know cci can retrace within those levels)
- cci14 retrace back to +100 or -100 or had a 200 point retrace on scale
- price above/below 2 ma's (have ma type and size adjustable)
  • #591
  • Jun 27, 2014 1:44am Jun 27, 2014 1:44am
Quoting pres78
String of JPY news, EURJPY set-up... Pulled the trigger on yet another test trade. Going to take this puppy live soon. {image}
Nice pres78 and those spreads are incredible for that time of day.
  • #592
  • Jun 27, 2014 1:55am Jun 27, 2014 1:55am
Spoke to Capital Trust Markets they say spreads will remain the same when their new acc options open up. Very interesting.
  • #593
  • Jun 27, 2014 3:34am Jun 27, 2014 3:34am
Nice EURAUD long. Support at yesterday Low. Back above the MA's, separation, take out 50 level, back to MA's support, close back above 50 level CCI trend intact, 4 pip SL, 5:1 before next 25 level.

Perfect.

Attached Image (click to enlarge)
Click to Enlarge Name: euraudprimem1.png Size: 103 KB
Today's zone = Tomorrow's opportunity!
  • #594
  • Jun 27, 2014 3:50am Jun 27, 2014 3:50am
Quoting pres78
Nice EURAUD long. Support at yesterday Low. Back above the MA's, separation, take out 50 level, back to MA's support, close back above 50 level CCI trend intact, 4 pip SL, 5:1 before next 25 level. Perfect. {image}
Nice pres78, I haven't been really watching but a quick peek showed a nice system buy on gbpaud (also had CM aud weak gbp strongest).

Clive you must surely be at the number of 100% system trades that are coming up just about every day!!

PS you made a comment about dnabrazil (or something like that, can't see it now) and his 1 min trades. Just wanted to mention that he trades 1 min yes but with VERY strict rules based on 4hr and 1hr set ups, only then does he look for 1 min entry. He most definitely does not trade everything in sight.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaudm1.png Size: 34 KB
  • #595
  • Jun 27, 2014 4:00am Jun 27, 2014 4:00am
Quoting Vantage
PS you made a comment about dnabrazil (or something like that, can't see it now) and his 1 min trades. Just wanted to mention that he trades 1 min yes but with VERY strict rules based on 4hr and 1hr set ups, only then does he look for 1 min entry. He most definitely does not trade everything in sight.
And for what its worth your system for the gbpaud trade above signalled earlier than his method as the move happened before the 1hr had closed. OK its a few pips difference just thought you'd like to know. Anyway you have seen the results that he gets (OK from monster leverage) but your method properly applied is every bit as good.

Nice one.
  • #596
  • Jun 27, 2014 4:41am Jun 27, 2014 4:41am
Watching the CCI for early warnings that trend "may" be slowing. Good time to tighten stops or to TP waiting for a retrace to get back in or confirmation of trend change. Both CCI's gave warning's that the up move was possibly in trouble. This is not 100% as we can continue to go up with/after divergence but if we get some clear signs why watch all out profits fade away. Take the signs and protect your profit. We are trading 1 minute charts however so even a 15-20 swing can knock out all our profits.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpaudprimem1.png Size: 92 KB
Today's zone = Tomorrow's opportunity!
  • #597
  • Jun 27, 2014 4:47am Jun 27, 2014 4:47am
EURJPY back into trend and we enter after the CCI 14 and 210 retrace and 210 comes back below -100.

Lovely. Room for 2:1 before the 138 level so low risk even if 138 doesn't break. Divergence and all... System trade check... Yes Clive this works.

Attached Image (click to enlarge)
Click to Enlarge Name: eurjpyprimem1.png Size: 93 KB
Today's zone = Tomorrow's opportunity!
  • #598
  • Jun 27, 2014 5:15am Jun 27, 2014 5:15am
Quoting Vantage
Spoke to Capital Trust Markets they say spreads will remain the same when their new acc options open up. Very interesting.
Hi Mr V.

Yes Capital Trust markets are offering an amazing deal right now of extremely low spreads , I had 0 spread on EURUSD yesterday(demo only) and crossy spreads are very very low. Plus they are offering a 150% bonus if you join up so £100 equates to a £250 trading account plus if you lose all your money, they will reimburse you 50% of it.

Now it all seems too good to be true doesn't it???

So Mr V. you're an experienced Forex man how do we go about checking out they are genuine brokers or are they gonna just take all our deposits and swiftly disappear off the face of the planet???How can we check agianst that happening???

Mind you I look at it this way, there are thousands of forex brokers out there working quite well and nicely and only a couple of scams so the chances are these are ok?? So why do we doubt them???

Whats your thoughts Mr V.???
Feel the Fear and do it anyway!!!
  • #599
  • Jun 27, 2014 5:19am Jun 27, 2014 5:19am
Just asked them the same question and this is their reply.

"You need not to worry, we are not here to scam anyone.
you can check regulatory websites with our registration numbers
Capital Trust Markets is a registered trademark of CTM Group Limited. CTM Group Limited is registered with the New Zealand business registrar (Registration Number: 4623222) and is regulated by the Financial Services Providers Register (FSPR) of New Zealand (Registration Number: FSP339386) and is also a member of The Insurance & Savings Ombudsman Scheme Inc. CapitalTrustMarkets.Com is owned and operated by CTM Group Limited, New Zealand."

Now surely they can't be a scam can they???
Feel the Fear and do it anyway!!!
  • #600
  • Jun 27, 2014 5:30am Jun 27, 2014 5:30am
Quoting clivepackham
Just asked them the same question and this is their reply. "You need not to worry, we are not here to scam anyone. you can check regulatory websites with our registration numbers Capital Trust Markets is a registered trademark of CTM Group Limited. CTM Group Limited is registered with the New Zealand business registrar (Registration Number: 4623222) and is regulated by the Financial Services Providers Register (FSPR) of New Zealand (Registration Number: FSP339386) and is also a member of The Insurance & Savings Ombudsman Scheme Inc. CapitalTrustMarkets.Com...
I would read online reviews (looking for honouring payments, slippage and general dodginess) and check out what they say and if all ok start off with a reasonable amount (I count that as anything up to $5000). The chances of a scam in NZ, you can never say never, but its unlikely. Tight spreads don't outweigh safety of funds but all else being equal it makes a staggering difference to have say 2.5 spread (incl comm) v 5 for gbpaud when you are likely to be exiting quickly.

You can take weeks to sort out a system, its worth 30 minutes online to check out where your money is going.
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