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Trading is as simple as ABCD

  • #5,801
  • May 6, 2015 2:16am May 6, 2015 2:16am
First trade of the day and its a loser I'm afraid.....5.5 pips to the downside

Nice AB move up retest of last high but then it failed to drive higher so closed it out for a loss...

Couple of things wrong with this trade, fell foul of Frankies hour as usual and LO taking it opposite way just feeding off of the liquidity provided by Frankie..

Plus I entered on a market order when I saw the nice positive reaction when I should of just dragged a Buy stop 2 pips, above the signal candle, which of course wouldn't of got hit, but there you go happens to us all...

All really down to one thing , "The Fear of Missing out" .....My biggest adversary ..

OK got 2 more chances to put things right so will sit tight for a bit as EUR news all over the place, causing a fair bit of swinging about...
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Feel the Fear and do it anyway!!!
  • #5,802
  • May 6, 2015 2:42am May 6, 2015 2:42am
Better entry this time...
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Feel the Fear and do it anyway!!!
  • #5,803
  • May 6, 2015 2:48am May 6, 2015 2:48am
Nope pipped me out then typically carried on down without me.... but it does all seem a bit jerky today, I think all these minor EUR news releases aren't helping, probably better to sit them out until after GBP news in 45 mins...

Time for a cuppa I guess..
Feel the Fear and do it anyway!!!
  • #5,804
  • May 6, 2015 2:58am May 6, 2015 2:58am
Quoting clivepackham
Nope pipped me out then typically carried on down without me.... but it does all seem a bit jerky today, I think all these minor EUR news releases aren't helping, probably better to sit them out until after GBP news in 45 mins... Time for a cuppa I guess..
Sorry my friend, I took a quick 12 pips here and going for a snooze
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Low Risk Low Stress High Reward High Probability Trades
  • #5,805
  • May 6, 2015 2:59am May 6, 2015 2:59am
Hmmm GBP weakness right across the board so I should be looking for a GBP sell, nearly caught that GBPNZD trade but close don't get the cigar...

Think I might go back to just watching the top four 1 minute trenders and see how I go...

Soon as I start looking at Higher timeframes I get myself into a mucking fuddle every time....

Just gonna keep it very very simple....

Is it going up or down right now??????
Attached Image (click to enlarge)
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Feel the Fear and do it anyway!!!
  • #5,806
  • May 6, 2015 3:05am May 6, 2015 3:05am
Lets give it a go...
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Feel the Fear and do it anyway!!!
  • #5,807
  • May 6, 2015 3:12am May 6, 2015 3:12am
Nope another BE its just not having it better wait till after the news now...

Put the kettle on.....
Feel the Fear and do it anyway!!!
  • #5,808
  • May 6, 2015 3:16am May 6, 2015 3:16am
Interestingly though what we should be looking out for on GBP red news days is any GBP strength or weakness just running up to the news, basically my pre-news release trade when I think the "Good Old London Boys" have had a heads up asbout the forth coming news and so try to position themselves just prior to the release..

They normally do it a bit quieter than this morning but obviously the market got a whiff of what they were up to...

Just something to look out for in the morning sessions or any session for that matter, look for an obvious weakness or strength across the board. Suggest using our CSM to tell us the story.. plus our faithful TTindy too of course..
Feel the Fear and do it anyway!!!
  • #5,809
  • May 6, 2015 3:20am May 6, 2015 3:20am
Quoting 919gilead
{quote} Sorry my friend, I took a quick 12 pips here and going for a snooze {image}
Hey George, good to see you around.....

Nice one..

No need to apologise they weren't my 12 pips...

Just look at this GBP weakness , going down more and more as I type , must be some really bad news coming for GBP today...
Attached Image (click to enlarge)
Click to Enlarge Name: gbp weaker and weaker 10 mins before news...PNG Size: 84 KB
Feel the Fear and do it anyway!!!
  • #5,810
  • May 6, 2015 3:28am May 6, 2015 3:28am
Just take note of TTindy and CSM just before the news, lets see what happens afterwards????

Attached Image


Not the best CSM reading but we can see whoose top and bottom which is all that matters...

Attached Image
Feel the Fear and do it anyway!!!
  • #5,811
  • May 6, 2015 3:38am May 6, 2015 3:38am
Looks like someone gave em a bum steer on the news, now what they gonna do????

Extradite themselves from some pretty big sell positions is my bet....

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Lets see how this goes??
Feel the Fear and do it anyway!!!
  • #5,812
  • May 6, 2015 3:41am May 6, 2015 3:41am
Quoting clivepackham
{quote} Hey George, good to see you around..... Nice one.. No need to apologise they weren't my 12 pips... Just look at this GBP weakness , going down more and more as I type , must be some really bad news coming for GBP today... {image}
Yes GBP weakness across the board but no real strong currency against it unfortunately. I took the short with you but closed for few pips due to possible hurdles I noticed but it continued without me for another missed 25 pips before it reversed after the news. The news was better than expected, and this is why we never assume in trading and ONLY trade what you see on the chart.

Thanks as usual for this thread. I'm off to snooze unless I see something tempting and interesting

Shalom
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Low Risk Low Stress High Reward High Probability Trades
  • #5,813
  • May 6, 2015 3:49am May 6, 2015 3:49am
Hi Clive!

I've just stumbled across this thread; seems quite good. I have tried to read the majority of it. But lets be honest, there is nearly 300 pages!!

This isn't now I normally trade, but I like learning other systems and see how other people do it. I find it helps fill gaps in my knowledge.

So, if you don't mind, can you either answer me a few questions or point me to where I may find the answers. I have looked but I may have missed them...

How do you ID the start of your ABCD system? looking historically its easy but live, are you just waiting for the start of a trend? ID the first HL and take it from there?

Do you need all the indicators to trade your system? I don't like clutter

Anything glaringly obvious I need to know other than the buy and sell points? (A,C) (B,D)?

Also, here in the UK we're one day away from our elections, I'd assume that's why the market is a little fuzzy today. Everyone is waiting for another hung parliament! Though, my monies on the tories! God help us if labour get back in!!

Anywho...

All the best with this system. n Thank you for taking the time to share it with us all
  • #5,814
  • May 6, 2015 3:53am May 6, 2015 3:53am
Nice reaction on the tTTindy with some GBP strength after the news...typical reversal setup GBP red on 5 min but green on 1 min...

Attached Image


But the HRLY chart is telling us to sell this strong downtrending GBPAUD 2nd in HRLY TTindy but down, so is this a pullback in the hrly???

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God knows...

My GBPAUD trades come off at BE though...to add to my list of BE trades today and one loser, so need a winner sooner or later...
Feel the Fear and do it anyway!!!
  • #5,815
  • May 6, 2015 3:57am May 6, 2015 3:57am
Quoting 919gilead
{quote} Yes GBP weakness across the board but no real strong currency against it unfortunately. I took the short with you but closed for few pips due to possible hurdles I noticed but it continued without me for another missed 25 pips before it reversed after the news. The news was better than expected, and this is why we never assume in trading and ONLY trade what you see on the chart. Thanks as usual for this thread. I'm off to snooze unless I see something tempting and interesting Shalom {image}
Hi George, I wonder why we were both looking at the GA chart?
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  • #5,816
  • May 6, 2015 3:58am May 6, 2015 3:58am
Quoting honestknave
{quote} Hi George, I wonder why we were both looking at the GA chart? {image}
Low Risk Low Stress High Reward High Probability Trades
  • #5,817
  • May 6, 2015 4:04am May 6, 2015 4:04am
Quoting 919gilead
{quote} but no real strong currency against it unfortunately.{image}
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  • #5,818
  • May 6, 2015 4:10am May 6, 2015 4:10am
Not my best entry ever and possibly facing another BE because it was too late but hopefully if it holds on I might have my winner at long last....
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Feel the Fear and do it anyway!!!
  • #5,819
  • May 6, 2015 4:16am May 6, 2015 4:16am
It knocked me off at BE yet again but I had faith in this top trender GBPNZD so quickly hopped back into the saddle...

Mind you shes bucking and kicking a bit...
Attached Image (click to enlarge)
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Feel the Fear and do it anyway!!!
  • #5,820
  • May 6, 2015 4:28am May 6, 2015 4:28am
Quoting Talzus
Hi Clive! I've just stumbled across this thread; seems quite good. I have tried to read the majority of it. But lets be honest, there is nearly 300 pages!! This isn't now I normally trade, but I like learning other systems and see how other people do it. I find it helps fill gaps in my knowledge. So, if you don't mind, can you either answer me a few questions or point me to where I may find the answers. I have looked but I may have missed them... How do you ID the start of your ABCD system? looking historically its easy but live, are you just waiting...
Hi Talzus

Welcome to my world, I will answer your questions later, just trying to turn my day around at the mo...

Ahh of course the general election is tomoz isn't it??? Thats why there was GBP weakness this morning nothing to do with the pending news etc and also answers the HRLY GBP weakness too...Must be expecting a hung government like you say, mind you hang the lot of em I say....

Thanks for that comment explains a lot...

Mind you it also explains why its a worthless task trying to fathom out why price is going one way or the other, just trade the move and be done with it...

Ours is not to reason why, just to do or die......
Feel the Fear and do it anyway!!!
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