AU Weekly
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- #1,122
- Nov 5, 2014 6:30am Nov 5, 2014 6:30am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
{quote} EA Long {image} {image}
I took a stab (2 stabs) at EA as well, but it was an LTF trade.
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #1,123
- Nov 5, 2014 6:36am Nov 5, 2014 6:36am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
Another one.
obviously, way too conservative, but the plan was to take consistent profits, with minimum of 2R. this particular trade was 3R, so as much as I wished that I could've ride the bears down, the plan was executed, so I have no complaints.
Every trader should know and understand what he wrote in his trading plan (MUST HAVE A TRADING PLAN), and execute it without miss. That's what makes a trader
Wish to see more participations if possible, be it good or bad trades. We share and learn together.
Trade well.
Chao
obviously, way too conservative, but the plan was to take consistent profits, with minimum of 2R. this particular trade was 3R, so as much as I wished that I could've ride the bears down, the plan was executed, so I have no complaints.
Every trader should know and understand what he wrote in his trading plan (MUST HAVE A TRADING PLAN), and execute it without miss. That's what makes a trader
Wish to see more participations if possible, be it good or bad trades. We share and learn together.
Trade well.
Chao
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #1,124
- Nov 5, 2014 10:12am Nov 5, 2014 10:12am
- Joined Dec 2006 | Status: Backtest is meaningless (to me) | 2,176 Posts
Hi, Balhana: thanks for your examples posted not only this one but those in the past 2 years!
i actually have been trying to categorized your trades this EA trade is a type that shows up much less frequently than the type of "BT+enter on PB(or momentum)" if you know what i mean.....
this EA trade is more of a breakout or follow momentum or continuation type.
What's the key consideration here? my own guess is:
* the resistant S/D ahead of the price would need to be consumed
* a new supportive S/D would be behind the price, and identified
* momentum would apparently be strong in the trade direction
Please post more to educate me when possible. Thanks again!
i actually have been trying to categorized your trades
this EA trade is a type that shows up much less frequently than the type of "BT+enter on PB(or momentum)" if you know what i mean.....this EA trade is more of a breakout or follow momentum or continuation type.
What's the key consideration here? my own guess is:
* the resistant S/D ahead of the price would need to be consumed
* a new supportive S/D would be behind the price, and identified
* momentum would apparently be strong in the trade direction
Please post more to educate me when possible. Thanks again!
{quote} EA Long {image} {image}
- #1,125
- Nov 5, 2014 11:24am Nov 5, 2014 11:24am
- Joined Mar 2010 | Status: Trader | 1,635 Posts
Hi, Balhana: thanks for your examples posted not only this one but those in the past 2 years! i actually have been trying to categorized your trades
- #1,127
- Nov 5, 2014 11:57am Nov 5, 2014 11:57am
- Joined Dec 2006 | Status: Backtest is meaningless (to me) | 2,176 Posts
- #1,130
- Nov 6, 2014 7:23am Nov 6, 2014 7:23am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
Few trades today:
EURAUD:
GBPAUD:
EURAUD:
GBPAUD:
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #1,132
- Nov 6, 2014 9:26am Nov 6, 2014 9:26am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
Knowing is not enough; we must apply. Willing is not enough; we must do.
Another one. {image} {image} obviously, way too conservative, but the plan was to take consistent profits, with minimum of 2R. this particular trade was 3R, so as much as I wished that I could've ride the bears down, the plan was executed, so I have no complaints. Every trader should know and understand what he wrote in his trading plan (MUST HAVE A TRADING PLAN), and execute it without miss. That's what makes a trader
Quick questions on your EU trade. Please see chart. Thanks.
Btw, do you trade Asia session at all?
- #1,134
- Nov 6, 2014 10:35am Nov 6, 2014 10:35am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
Knowing is not enough; we must apply. Willing is not enough; we must do.
{quote} I don't trade this pair, but I'd have taken this setup. {image}
I wonder, why are you not increasing lots on your trades. I can see you open trades with 3 lots for quite some time (a few years?), you trade beautifully, but still not taking it further... why?
Sorry, if it's too personal. Just dying to know the reason
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- #1,137
- Nov 6, 2014 7:34pm Nov 6, 2014 7:34pm
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
{quote} I don't trade this pair, but I'd have taken this setup. {image}
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #1,139
- Nov 6, 2014 10:06pm Nov 6, 2014 10:06pm
{quote} Sorry cant draw charts now coz using mobile.i ll try to explain using words. Let me knw if u dun understand.Answer 1: actually my target was aiming at the next blue zone on d chart, giving few pips buffer. I saw price started pausing and clustering above demand, and didnt want to take any chances of giving all d pips back, so i simply manual exit. U can say it was a gut feel thing (which wasnt accurate LOL) Answer 2: reason is becoz it may be a false break. Try erasing what happened next after d first break, and u ll see what i meant. I...
Re (1), actually I was referring to this SD (see green box), why you didn't use this as TP instead. It was rather close to your entry.
I read before that you trade only 8-11pm (m'sia time) , is it still the same now?
- #1,140
- Nov 6, 2014 10:31pm Nov 6, 2014 10:31pm
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
{quote} Thanks Chao. For (2), i got it. I noticed you did the same for the GBPAUD trade you shared yesterday too. Do you usually NOT take the immediate re-test of the swap in case its false break, so you wait for the 2nd test as confirmation? Re (1), actually I was referring to this SD (see green box), why you didn't use this as TP instead. It was rather close to your entry.{image} I read before that you trade only 8-11pm (m'sia time) , is it still the same now?
Edit*: yes, I normally wait for 2nd retest, unless the break is decisive and strong.
Knowing is not enough; we must apply. Willing is not enough; we must do.