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One does not simply buy low and sell high

  • #81
  • Apr 8, 2015 4:19am Apr 8, 2015 4:19am
long usd/jpy here.

Stop under trend line and swing low support.

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  • #82
  • Apr 8, 2015 5:33am Apr 8, 2015 5:33am
Quoting big_pipin
{quote} This is the exact reason why I took all of them off and just use one level. Also, technically speaking these arn't fib lines that I'm drawing, however it is a fib tool that I use to draw the 50% level. 55 is a fib number, 50 is not. I do look at fib extensions, but my first target is always a measured move, an equal distance from the swing being measured. You saw that with the u/j trade. Fibs look great in hindsight, but it's painfully hard to excute in a live market, because like you said, you simply cant know which level price will respond...

Thanks for the explanation. That makes sense. It looks like you have something good going here. Thanks for the information!
  • #83
  • Apr 8, 2015 8:16am Apr 8, 2015 8:16am
Stopped out. -20 pips

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  • #84
  • Apr 8, 2015 10:52am Apr 8, 2015 10:52am
FOMC in 2hrs. I'll remain flat until the number comes out as I expect markets to get crazy.
  • #85
  • Apr 8, 2015 1:31pm Apr 8, 2015 1:31pm
U/j taking out highs. Time to draw a new retracement and buy the dips.

Stops slightly below support zone. RR at a decent 3:1

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  • #86
  • Apr 9, 2015 9:25am Apr 9, 2015 9:25am
+16 pips. Not what I was expecting for holding a trade this long, but it's better than a loss.

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  • #87
  • Apr 9, 2015 4:11pm Apr 9, 2015 4:11pm
What I'm seeing right now on 50 pip range bars

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But what I'm also seeing...

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But while some people can manage multiple times frames, I prefer not to. Why? For the simple reason that I want to trade what I see..what the market is doing NOW, not what I THINK it will do.

And because I'm trading / back testing this on range bars, it looks like we're going long.
  • #88
  • Apr 9, 2015 4:20pm Apr 9, 2015 4:20pm
Something like this. If the market falls below the support zone, we'll be shorting the pullbacks and stops above the zone.

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​
  • #89
  • Apr 10, 2015 1:13am Apr 10, 2015 1:13am
Asleep at the wheel and never took the trade, but it appears now that it was good that I didn't.
  • #90
  • Apr 10, 2015 2:09pm Apr 10, 2015 2:09pm
Trade PnL Summary for April 6th - 10th 2015

Trades: 4

Losers: 1

Largest gain: $108
Largest loss: -$38
---------------------------------
Net gain for the week $130
Net pips: 123
  • #91
  • Apr 13, 2015 4:02pm Apr 13, 2015 4:02pm
The 50% level and the resistance zone are matched. The 50% level is hidden in the highlighted zone but it is there. Normally I don't draw such big swings, but I'm going to give it a shot.
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Here is the same chart on a 15min.

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  • #92
  • Apr 14, 2015 6:09am Apr 14, 2015 6:09am
Quoting big_pipin
The 50% level and the resistance zone are matched. The 50% level is hidden in the highlighted zone but it is there. Normally I don't draw such big swings, but I'm going to give it a shot. {image} Here is the same chart on a 15min. {image}
What pair or instrument is it? Chart does not show anything.
Regards
  • #93
  • Apr 14, 2015 9:07am Apr 14, 2015 9:07am
Quoting howard
{quote} What pair or instrument is it? Chart does not show anything.
a/u 50 range bars and 15 min.
  • #94
  • Apr 14, 2015 9:34pm Apr 14, 2015 9:34pm
profit stop at 7611. +12 pips in the money no matter what.
  • #95
  • Apr 15, 2015 1:04am Apr 15, 2015 1:04am
Quoting big_pipin
profit stop at 7611. +12 pips in the money no matter what.
Adjusted stop to 7598. +25 pips in profit.
  • #96
  • Apr 15, 2015 1:54am Apr 15, 2015 1:54am
Stopped out with +21 pips. Apparently thinkorswim doesn't know how to execute a stop order in a timely manner. Thank god I was watching the market at the time, so I could cancel my stop order and cover at market FFS!.

Anyway, here it is..

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  • #97
  • Apr 15, 2015 2:03am Apr 15, 2015 2:03am
Hi Big_Pipin! just I want to ask if you put the fibo extension on the breakdowns or on a pullback?
  • #98
  • Apr 15, 2015 2:11am Apr 15, 2015 2:11am
Quoting maxtill
Hi Big_Pipin! just I want to ask if you put the fibo extension on the breakdowns or on a pullback?
From the pullback.
  • #99
  • Apr 15, 2015 2:14am Apr 15, 2015 2:14am
You can explain me how you put your TP, just do not understand, you just take your 20 pips?
  • #100
  • Edited 6:39am Apr 15, 2015 4:13am | Edited 6:39am
Quoting maxtill
You can explain me how you put your TP, just do not understand, you just take your 20 pips?
I got stopped out, it wasn't a target. I move my stops down as price makes new swings. Not protecting profits when you have them is foolish.

I would aim for a T1 of the 100% retracement level.
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