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  • #1,081
  • Jul 24, 2014 2:11am Jul 24, 2014 2:11am
Stopped out at BE there which is a shame but I had moved my stop back awaiting for a retest of 1.8050 and when it moved off I thought the retest was over but it came back and nipped me out. Oh well never mind there be another opportunity along in a minute or two I'm sure.

I see theres some GBP strength now building up so will watch out for a GBP setup.

Attached Image


Back to watching for a bit.
Feel the Fear and do it anyway!!!
  • #1,082
  • Jul 24, 2014 2:27am Jul 24, 2014 2:27am
Can't see anything I like here nothing setup "clean". Also all these NZD & AUD pairs are well past their sell by dates as already moved montrous amounts overnight.

Its all looking very overbought or oversold on the 15 min CCI's so I'm suspicious of an overnight reversal???

But who knows???? Point is with this strategy is to sit back and watch no need to guess, just watch what happens wait for a strong move one way or the other then jump on.

Time for my morning cuppa.............
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Feel the Fear and do it anyway!!!
  • #1,083
  • Jul 24, 2014 2:44am Jul 24, 2014 2:44am
Nice move here on EURJPY good news release, been oversold for sometime so nice move up overdue. Wait for a decent smooth pullback to last LH would be cool then go from there.
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Feel the Fear and do it anyway!!!
  • #1,084
  • Jul 24, 2014 2:49am Jul 24, 2014 2:49am
These four are setting up nicely, but which one is best???? Look for the smoothest pullback to a key level then give it a go.
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Feel the Fear and do it anyway!!!
  • #1,085
  • Jul 24, 2014 2:59am Jul 24, 2014 2:59am
These four are all moving nicely and the temptation is to just jump on after a small pullback, and sure it might work too, But I've been caught so many times like that and had to sit through a painful pullback. Now I wait for a nice pullback away from the "rockface", what I mean is away from the last HH. |It gives me a chance to get to BE before it reaches the last HH where its going to react.

Sometimes they just keep going without you and thats just the way it is, but 9 times out of 10 they will come back nicely for us to jump on board. Always looking for a break and retest entry too. What I'm finding is to wait until they hit a nice bit of resistance when they will take 10 steps back then charge right back and through, thats our best entry for me. As it means when I move to BE I'm behind that last resistance level giving my BE stop some protection.

The hard bit is to sit back and wait, especially if it never comes, but it will, it will, just gotta be patient.......
Feel the Fear and do it anyway!!!
  • #1,086
  • Jul 24, 2014 3:13am Jul 24, 2014 3:13am
Got to go to work early today as believe it or not we are having temperatures in the 30's in England!!! Yep unbelieveable and the guy I worked with yesterday nearly passed out!! From the heat , not the shock of England having sunny weather!!! So we've got to start early today before the "heat" of the midday sun!! Never thought I'd say that in England!!!

But before I go want to show you an awesome setup on GBPNZD. Have a look at the TT Indy see how GBPNZD is top of both 1 min and 5 min TTs?? But the opposite colour!!! Great setup have a look at the chart below gotta sell that pullback!!!
Attached Image (click to enlarge)
Click to Enlarge Name: Reversal setup TT Indy opposite colours.png Size: 57 KB
Feel the Fear and do it anyway!!!
  • #1,087
  • Jul 24, 2014 3:35am Jul 24, 2014 3:35am
More luck than judgement I guess as didn't realise there was news about to be announced however there is an interesting thread here that claims professional traders have advance warnings of the foirth coming news and so load their positions just before as per this drive down on GBPNZD b4 the news release.

Interesting theory and appears to have worked this time nicely.

going to have to leave it here today guys as got to go to work b4 the midday sun, but will be back in time for NYO.

Going to leave this trade see how it goes as GBPNZD is so overbought this could be a nice little move down today.

Catch up later.....
Attached Image (click to enlarge)
Click to Enlarge Name: gbpnzdm1.png Size: 60 KB
Feel the Fear and do it anyway!!!
  • #1,088
  • Jul 24, 2014 8:24am Jul 24, 2014 8:24am
Hey its party time!!!!

Anyone remember me saying I had set myself a goal to double my account in 30 days????

Well i've just done it in 5 days!!!!

In fact 124%!!!

Just banked my GBPNZD trade from this morning for 70 pips can't be bad.

Now sure thats just a demo account so the next question is can I repeat it live??? Well only one way to find that out I guess.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpnzdm1.png Size: 58 KB
Feel the Fear and do it anyway!!!
  • #1,089
  • Jul 24, 2014 8:32am Jul 24, 2014 8:32am
Quoting clivepackham
Hey its party time!!!! Anyone remember me saying I had set myself a goal to double my account in 30 days???? Well i've just done it in 5 days!!!! In fact 124%!!! Just banked my GBPNZD trade from this morning for 70 pips can't be bad. Now sure thats just a demo account so the next question is can I repeat it live??? Well only one way to find that out I guess. {image}
amazing work!
  • #1,090
  • Jul 24, 2014 8:51am Jul 24, 2014 8:51am
Quoting saticdoor86
{quote} amazing work!

Thanks saticdoor86 for your kind words and also a big thank you to Mr V, pres78 and of course my good friend Martin.

Awesome guys thanks a lot , lets see if I can rinse and repeat as they say.
Feel the Fear and do it anyway!!!
  • #1,091
  • Jul 24, 2014 10:41am Jul 24, 2014 10:41am
I've got to go back to work for a bit but if I was staying I would definitely be looking to buy this GBPNZD as its been going down all day so time for a correction maybe 50 to 70% move back up??? My entry would be a break and retest of either the 100LWMA or better still the 1.97750 level but you want a clear strong AB leg first back up then a pullback.

gotta go catch up later.....
Attached Image (click to enlarge)
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Feel the Fear and do it anyway!!!
  • #1,092
  • Jul 24, 2014 2:56pm Jul 24, 2014 2:56pm
I took that GBPNZD trade before I went back to work so had a very profitable day today.

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GbPNZD was particularly kind to me today going grossly overbought over night so giving me a lovely sell setup this morning. Then going oversold this afternoon giving us a great buy set up too.

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Gave me 70 pips this morning and another 28 this afternoon. I've really moved my trading on now by looking for overbought and oversold 15min CCI's. Then wait for the reversal signal and go for it, which gets me in a lot earlier in the move so I end up with far bigger winners which is to me what its all about.

I basically am looking for two setups, the continuation trade when the trend is strong and stays overbought or sold but maintains its market structure. This is the London or New York breakout trade. Then theres the overbought or sold 15 min CCI after a strong move one way, that leads to our reversal trade. This I guess is the sessions reversal of the previous sessions move. Like todays GBPNZD trades with LO reversing the overnight rush up the page then NYO reversing that move down back up again.

Well lets see if I can carry on with the good work from today next week.
Feel the Fear and do it anyway!!!
  • #1,093
  • Jul 24, 2014 3:12pm Jul 24, 2014 3:12pm
Just looking at my explorer account which I started with $5,000 last thursday, so not only did I double my account but now its $14,744 so I almost tripled it!!!

Amazing even by my high expectations but the question is, is it sustainable and even more important can I do it with real money????

Hmmm well there's only one way to answer those questions and thats carry on doing what I'm doing and see what happens. If I have another good week next week then I will give it a go "live" with real money and post it on my explorer account, but first lets see if I can repeat it next week on demo then I'll give it a go with some real money.

Its got two chances, it will either go up or down..................
Feel the Fear and do it anyway!!!
  • #1,094
  • Jul 24, 2014 3:56pm Jul 24, 2014 3:56pm
Quoting clivepackham
Every morning I'm looking for either continuation trades eg London Breakout or reversals after a strong move. Last night there was an NZD news release about their cash rate increase so very weak NZD overnight. I look at my morning TTindy to see where we are and go from there. Looking at it this morning I look at the 5mins to see what happened over night , all NZD pairs, this is where my reversals might come from. I look at the 1 min to see whats happening now, and where my continuations might come from , EUR weakness....
...pardon my ignorance, but doesn't an interest rate INCREASE equate to a STRONGER currency???
  • #1,095
  • Edited 5:12pm Jul 24, 2014 4:56pm | Edited 5:12pm
Quoting LITEchild
{quote} ...pardon my ignorance, but doesn't an interest rate INCREASE equate to a STRONGER currency???
Its not ignorance my friend its you're just as confused as me and I asked that very question on this thread here http://www.forexfactory.com/news.php?do=news&id=496109 when the news first came out but not sure anyone really knew the answer!!!???

But here's the beauty of this strategy. I couldn't give a monkeys **** why it goes up or why it goes down??? Because I don't try to predict where the markets going and I certainly don't try to work out why it moves the way it does. All I know is when it moves I want to be on it and to me the easiest way to do that is to just trade the 1 minute trends.

They tell the story as it is , not how I think it should be, but how it is, so to me its simple. If price is going up buy it. If price is going down sell it. If you can't tell which way its going on the chart you're looking at, look at another chart where it is obvious which way its going.

So like you I was confused by the markets reaction but then I thought what the hell, its going down I'll sell it. Then it went up so I bought it, should of held it too because its still going up, round about a 70% correction of this mornings move down. But hey thats hindsight and we haven't got that going forward either.

To be honest my friend there is no rhyme or reason to how the market reacts to news etc GBPNZD went up 300 pips then went down 130 pips now its gone back up 90 pips. The problem is we think we can predict a totally random market and thats where 95% of traders go wrong!! We can't predict a totally random market but we can follow!!!

Its the money that drives these markets and the people with the money drive it one way then the other, I don't know about you but I haven't got enough money to drive the market one way or the other so I just have to follow the guys that have got the money.

Pure and simple "follow the money".

Sorry didn't mean to rant and rave so much its just one of my little theories about trading.
Feel the Fear and do it anyway!!!
  • #1,096
  • Jul 24, 2014 5:22pm Jul 24, 2014 5:22pm
Quoting clivepackham
{quote} Its not ignorance my friend its you're just as confused as me and I asked that very question on this thread here http://www.forexfactory.com/news.php?do=news&id=496109 when the news first came out but not sure anyone really knew the answer!!!??? But here's the beauty of this strategy. I couldn't give a monkeys **** why it goes up or why it goes down??? Because I don't try to predict where the markets going and I certainly don't try to work out why it moves the way it does. All I know is when it moves I want to be on it and to...
  • #1,097
  • Jul 24, 2014 5:47pm Jul 24, 2014 5:47pm
Wow!! This has been an enormous day for me when everything seemed to go just right!!!

But there's just one more good bit of news today when it seems it just couldn't get any better.

All my emocions and text toolbar have come mysteriously back!!!

Not only that but also I've achieved another little goal of mine. To double my account in a day!!!

Yea OK I know its only a demo and it doesn't really count but hey, I'm proud of myself and the new skills I've learnt. I've learnt discipline, patience and when to walk away if nothing sets up so I'm happy.

Next task is to rinse and repeat then try it with some real money, but first lets rinse and repeat............
Feel the Fear and do it anyway!!!
  • #1,098
  • Jul 24, 2014 5:57pm Jul 24, 2014 5:57pm
Quoting clivepackham
Wow!! This has been an enormous day for me when everything seemed to go just right!!! But there's just one more good bit of news today when it seems it just couldn't get any better. All my emocions and text toolbar have come mysteriously back!!! Not only that but also I've achieved another little goal of mine. To double my account in a day!!! Yea OK I know its only a demo and it doesn't really count but hey, I'm proud of myself and the new skills I've learnt. I've learnt discipline, patience and when to walk away if nothing...
Well done
  • #1,099
  • Jul 25, 2014 1:44am Jul 25, 2014 1:44am
Quoting Kobiet
{quote} Well done
Thanks Kobiet its been a long time coming but I really think I've got there at last. However the proof is in the pudding so lets see if I can carry on trading profitably over next week, then go from there.
Feel the Fear and do it anyway!!!
  • #1,100
  • Jul 25, 2014 1:56am Jul 25, 2014 1:56am
Ok well after all the excitement time to have a look at the market and see what we've got lining up this morning?

First thing I do is have a look at the overnight moves to see if there's anything looking like a possible reversal candidate this morning from my 5 min TT Indy.

Attached Image


EURAUD top but only a 10 rating so not much to write home about there.

Then I have a look at my top 4 trenders on the 1 min TT's and again not really much moving or setting up here either. Not really surprising as its a Friday and also theres quite a bit of news dotted about today, quite often when theres a lot of news then the major moves won't come till after the news releases are out of the way.

Attached Image (click to enlarge)
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Going to wait for a push one way or the other want to see a clear, strong AB leg before I even look at a trade.

Gives me a chance for a nice early cuppa ..............
Feel the Fear and do it anyway!!!
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