Bull City Baby! Buying Opportunities | Page 8 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

USD/JPY

Similar Threads

Reversal City Baby!! 12 replies

Breakout City Baby!! 20 replies

Baby Sitter EA 4 replies

Baby Steps... 6 replies

FX Baby Trading Journal 0 replies

Attachments: Bull City Baby! Buying Opportunities
Exit Attachments

Bull City Baby! Buying Opportunities

  • #141
  • Dec 8, 2014 1:23pm Dec 8, 2014 1:23pm
Quoting benaiah
And after my above post, a nice bounce. Maybe the start of reversal? Will have to wait and see, as I see the first key support level around 120. But if support forms above that, i.e. at current level, then maybe back in Bull City Baby!

  • #142
  • Dec 8, 2014 1:24pm Dec 8, 2014 1:24pm
Quoting benaiah
While waiting for the reversal of the retrace, I wanted to explain a bit more on my tight SL philosophy. I strive to enter with an SL around 10-30 pips (depending on S/R levels). And in a situation where we have a retrace such as the one currently happening with UJ, every time my SL is hit, I know it will go lower, giving me a better entry, and a bigger eventual profit target. Take a 10 pip SL for example, which is usually doable entering on M15. Even if I get stopped out 10 times (= 100 pips loss). It just means when I do finally get it right,...
That's probably a better bet than my 35-45 SL. (or my loosey goosey NO stop loss that cost me 80k on the last retrace)... maybe just getting hit more but less would be preferable. Thanks for the advice...

Then again, I've been fading and doubling down this whole way. I guess I may never learn.
  • #143
  • Dec 8, 2014 1:36pm Dec 8, 2014 1:36pm
I was drawing down pretty far there! I made it though!!! Onward my noble steed! Lets see if we can get some new highs ladies and gents!
  • #144
  • Dec 8, 2014 1:37pm Dec 8, 2014 1:37pm
Quoting chsortman
{quote} That's probably a better bet than my 35-45 SL. (or my loosey goosey NO stop loss that cost me 80k on the last retrace)... maybe just getting hit more but less would be preferable. Thanks for the advice... Then again, I've been fading and doubling down this whole way. I guess I may never learn.
Stick around Chsortman. We're all learning. When the coast is clear on the reversal, I'll be posting it, or someone else will. Of course there is no guarantee, but I'll put my money on retrace reversals with a strong uptrend any day of the week, on M15 or higher, it will offer a good R:R...

As posted before we are almost guaranteed to make a run at the prior high, which is why I'm willing to take few losses before I get it right. Again, every loss, just increases my profit target...
  • #145
  • Dec 8, 2014 2:21pm Dec 8, 2014 2:21pm
Great place to long IMO. Back to 120.2 first, would perhaps loosen PA.
  • #146
  • Dec 8, 2014 2:22pm Dec 8, 2014 2:22pm
wow 160 pips, today is a great retrace entry day! What a fall we have had today, much needed IMO stilll long
All posts are my personal opinion
  • #147
  • Dec 8, 2014 2:23pm Dec 8, 2014 2:23pm
Quoting chsortman
{quote} That's probably a better bet than my 35-45 SL. (or my loosey goosey NO stop loss that cost me 80k on the last retrace)... maybe just getting hit more but less would be preferable. Thanks for the advice... Then again, I've been fading and doubling down this whole way. I guess I may never learn.
WHATTTT, 80k?!?! lol how much are trading with total?!?! JESUS
All posts are my personal opinion
  • #148
  • Dec 8, 2014 2:26pm Dec 8, 2014 2:26pm
I turned 9k into 100k last month.... then promptly lost it on margin call JUST before the end of the last retrace. I'm an idiot. Now I use stops. (most of the time)

it wrecked my ski trip over thanksgiving.

Like I said I'm addicted to buying into a retrace.... call it a lead finger...
  • #149
  • Dec 8, 2014 2:28pm Dec 8, 2014 2:28pm
Quoting chsortman
I turned 9k into 100k last month.... then promptly lost it on margin call JUST before the end of the last retrace. I'm an idiot. Now I use stops. (most of the time) it wrecked my ski trip over thanksgiving.
man sorry to hear, damn lol.

Just added a bigger long on this M30 pin bar on major support here, will use stoploss for big lot below pin bar but ultimate stop for orders on top is 120.
Attached Image (click to enlarge)
Click to Enlarge Name: Selection_015.png Size: 22 KB
All posts are my personal opinion
  • #150
  • Dec 8, 2014 2:47pm Dec 8, 2014 2:47pm
To chime in with some of the above posts, a bottom has formed, but in order to be more stable, I'll need to see price get above some S/R levels. Right now, just showing reversal on M5 and M15. I have entered with tight SL though, and will look for confirmation on higher time frames for a better reversal signal...
  • #151
  • Dec 8, 2014 2:47pm Dec 8, 2014 2:47pm
1 hour starting to look interesting
Good luck and may the odds be ever in your favor!
  • #152
  • Dec 8, 2014 2:49pm Dec 8, 2014 2:49pm
  • #153
  • Dec 8, 2014 2:54pm Dec 8, 2014 2:54pm
I'm back in long. Stop at 120. Target is 125 but will see where this takes us
Good luck and may the odds be ever in your favor!
  • #154
  • Dec 8, 2014 2:55pm Dec 8, 2014 2:55pm
Quoting dbutton1990
1 hour starting to look interesting
4 hour also
The better looser you are the better winner you are
  • #155
  • Dec 8, 2014 2:59pm Dec 8, 2014 2:59pm
I'm in 120.450 looking for the High...

(mental stop -20 pips)
SPC * Swollen PocketZ Crew!
  • #156
  • Dec 8, 2014 3:01pm Dec 8, 2014 3:01pm
If we can get a rejection or support above where it's trading right now, I'd say it would be a good entry. Right now risky. Although, to be honest, I did enter again long

Edit: SL either at 120.41 or a few pips below 120.198. The bottom of this retrace is 120.198, until/unless it is broken. If price falls below 120.41 I'd probably close my long and wait to see what happens...
  • #157
  • Dec 8, 2014 3:02pm Dec 8, 2014 3:02pm
125 by end of year would make for a great holiday
  • #158
  • Dec 8, 2014 3:02pm Dec 8, 2014 3:02pm
Quoting JoeNY
I'm in 120.450 looking for the long haul. (mental stop -20 pips)
Yeah that mental stop is what lost me 80 grand. 20 turns into 150 awfully quick...
  • #159
  • Dec 8, 2014 3:04pm Dec 8, 2014 3:04pm
I have a hard stop as well but not posting it. Trying to throw off the broker data.

Quoting chsortman
{quote} Yeah that mental stop is what lost me 80 grand. 20 turns into 150 awfully quick...
SPC * Swollen PocketZ Crew!
  • #160
  • Dec 8, 2014 3:04pm Dec 8, 2014 3:04pm
Anybody here looking at tick volume (or any other volume metric) data for this move?
0 traders viewing now