{quote} Hi GM i was just thinking that on the way home ,i expected a 50 pip jump as the traders took the wine profits out for the week end ,, B
I know a few on here are as well judging by the charts over the past two days
Cable Update (GBPUSD)
- #396,721
- Sep 5, 2014 12:25pm Sep 5, 2014 12:25pm
- Joined Apr 2013 | Status: I'm learnding! | 8,973 Posts
I know a few on here are as well judging by the charts over the past two days
- #396,722
- Edited 12:55pm Sep 5, 2014 12:39pm | Edited 12:55pm
- | Membership Revoked | Joined Feb 2008 | 9,794 Posts
{quote} {quote} here I quoted your plan , explain yourself to people who had followed you blindly , it's not that you didn't warn them and it's not that you remained silent about your stop loss but your duty is to point out the problem in your plan and not just disappear .
This is HDA's post frtom a few weeks ago {quote} @Greener: My initial scale in buy is set at 1.6735 and then I add if or when it goes against me. HDA OUT Ok so he's now down 400 pts - Thats abt 4% - If you're a position trader thats no big deal.
Read his PLAN - if it goes against him he's gonna scale in some more. Now if you understand his plan but are uncomfortable adding to losers follow your own plan, which I think is what HDA was saying.
Looking at the chart I think this'll come good soon anyway.
- #396,723
- Sep 5, 2014 12:39pm Sep 5, 2014 12:39pm
- Joined Dec 2012 | Status: On Life's Path | 2,076 Posts
str ,has come up with good plan imo{quote}
Just don't send me the bill if it crashes next week :-)
- #396,724
- Sep 5, 2014 12:43pm Sep 5, 2014 12:43pm
- Joined Dec 2013 | Status: Trader | 19,815 Posts
{quote} In position for just such a jump
- #396,725
- Sep 5, 2014 12:56pm Sep 5, 2014 12:56pm
- Joined Mar 2009 | Status: Trader | 25,480 Posts
{quote} Don't think you guys really understand HDA's plan - and I may be wrong here but HDA is a position trader - he doesn't really care what price does on a daily basis = most ppl on here are day traders I think - thats a different mindset. This is HDA's post frtom a few weeks ago {quote} @Greener: My initial scale in buy is set at 1.6735 and then I add if or when it goes against me. HDA OUT Ok so he's now down 400 pts - Thats abt 4% - If you're a position trader thats no big deal. Read his PLAN - if it goes against him he's gonna scale in some...
... Being largely a POSITION trader yourself Stew, I had no doubt you'd understand the ... PLAN. Ghost Rider - WWTBMD?
- #396,726
- Sep 5, 2014 1:09pm Sep 5, 2014 1:09pm
- | Membership Revoked | Joined Feb 2008 | 9,794 Posts
{quote}
- #396,727
- Sep 5, 2014 1:11pm Sep 5, 2014 1:11pm
- Joined Mar 2009 | Status: Trader | 25,480 Posts
{quote} Who me? - nah I'm a scalper LOL
Ghost Rider - WWTBMD?
- #396,728
- Sep 5, 2014 1:24pm Sep 5, 2014 1:24pm
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
On-site guru & also FF member's' psychiatrist, when not drinking tea
- #396,730
- Sep 5, 2014 1:26pm Sep 5, 2014 1:26pm
- Joined Oct 2010 | Status: Trader | 21,482 Posts
For those who are interested, I attach trade history monitor.
The numbers filled are examples and not my a/c.
What you need is 1.5 % growth everyday in order to make 5k capital to around 200k after week. 50.
The numbers filled are examples and not my a/c.
What you need is 1.5 % growth everyday in order to make 5k capital to around 200k after week. 50.
Intraday only.
- #396,732
- Sep 5, 2014 1:31pm Sep 5, 2014 1:31pm
- Joined Mar 2008 | Status: Taking Care Of Business | 5,587 Posts
{quote} Hi GM i was just thinking that on the way home ,i expected a 50 pip jump as the traders took the wine profits out for the week end ,, B 6355 end of day ??? what you think,, close by 10 pips wins the wine,,lol {image}
She's calling...I'd better go home. Time to take care of my weekend "positions". Gotta make up to her for the screen time...
Have a good weekend.
Hear the music before the song is over ...
- #396,733
- Sep 5, 2014 1:38pm Sep 5, 2014 1:38pm
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
On-site guru & also FF member's' psychiatrist, when not drinking tea
- #396,735
- Sep 5, 2014 1:43pm Sep 5, 2014 1:43pm
- | Joined Jul 2013 | Status: Trader | 1,873 Posts
{quote} Don't think you guys really understand HDA's plan - and I may be wrong here but HDA is a position trader - he doesn't really care what price does on a daily basis = most ppl on here are day traders I think - thats a different mindset. This is HDA's post frtom a few weeks ago {quote} @Greener: My initial scale in buy is set at 1.6735 and then I add if or when it goes against me. HDA OUT Ok so he's now down 400 pts - Thats abt 4% - If you're a position trader thats no big deal. Read his PLAN - if it goes against him he's gonna scale in some...
Get Rich or Die Tryin
- #396,736
- Sep 5, 2014 1:45pm Sep 5, 2014 1:45pm
- | Joined Jul 2013 | Status: Trader | 1,873 Posts
{quote}
{quote} LOL ... Yeah I forgot. You normally trade quarterly charts but you DO scalp the monthly occasionally.
Get Rich or Die Tryin
- #396,737
- Sep 5, 2014 1:47pm Sep 5, 2014 1:47pm
- | Membership Revoked | Joined Feb 2008 | 9,794 Posts
{quote} Really ?!! you joined FF since what ! 2008 and you still @ such a level of comprehension !! I am tired and I won't explain , sorry
- #396,739
- Sep 5, 2014 1:51pm Sep 5, 2014 1:51pm
- | Membership Revoked | Joined Feb 2008 | 9,794 Posts
{quote} {quote} here I quoted your plan , explain yourself to people who had followed you blindly , it's not that you didn't warn them and it's not that you remained silent about your stop loss but your duty is to point out the problem in your plan and not just disappear .
- #396,740
- Edited 2:19pm Sep 5, 2014 2:01pm | Edited 2:19pm
- Joined Mar 2009 | Status: Trader | 25,480 Posts
{quote} I tried to figure out why HDA entered where he did and gave up after a while - There is SR abt there but PA was not good.
Fibs - often used to "predetermine" retrace levels to start scaling in swing trades before price reaches it. I do it all the time on a smaller scale.
Retrace - He mentioned his selling from 7145 and 7190 as trading "the retrace"
The numbers. If I have figured out the Daily Fib setup he was looking at.
The 50% is at 1.67209 so a couple pips ahead of that is his first entry. (6700 round number also just below)
The 61.8% is 1.66101 so a couple pips ahead of that is his second entry which if I remember (he posted it but I'm not sure) was 1.6620?
When we scale in on a retrace we want to catch the first place price could turn so we are sure to be in. Each level beyond that is considered a better entry to our overall direction. So next would be the 61.8, 78.6, 88.6 etc....
Now at his scale, and if I'm even close to his plan, he'll look at larger Fib setups and larger TF's as well and probably add more as it falls. In fact I'd be surprised if he hasn't already but of course only he would know where. Of course all of these entries are ahead of Price Action so that explains that.
This is only "my guess" at his plan from the words he's used. I guess this because it was my plan as well but not being a large scale position trader, my mental STOP LOSS was at 6400 which, I had to close at for a loss due my risk limit for the trade.
Unless I miss my guess here, this is just a very large swing trade to him that he gets to collect more in positive swaps than most folks make at their jobs.
EDIT: BTW HDA, if your seeing this (yeah right like you're not
) I'd love to know if I'm even close here? Thanks. 
Ghost Rider - WWTBMD?