one more 100 piper ........ {image}
Excellent trade AD. Do you not loss any trade?
Winners Never Quit, Quitters Never Win
{quote}
Added pos is at -7 now ... SL 23 pips away ...
NFP effect .......... Done for the week ......... Stay in Green Pips n Greener Pastures .............. {image} {image}
What's your strategy on trading the NFP, any particular method you use?Assumed you have placed buy orders on the support area at EU, but what made you so sure on the direction? Those long wicks may take out any buy sell order I may have placed
{quote} Hi adikash, great pips
Technically, it was the question of the timing .............
I have been observing how Phx62 trades different NEWS and I have been picking up clues ............
So, I waited for that moment on 1st 5M after the news, observed its relation on the 2nd 5M ... then on the 1st 15M candle entered ......
Both hit respective TSL ..........
had been a great green pips week ........
{quote} Fundamentally, I knew that $ was weakening ... Technically, it was the question of the timing ............. I have been observing how Phx62 trades different NEWS and I have been picking up clues ............ So, I waited for that moment on 1st 5M after the news, observed its relation on the 2nd 5M ... then on the 1st 15M candle entered ...... Both hit respective TSL .......... had been a great green pips week ........
, , I watch silently the thread, read as much as I can, but still fail in combining the information and putting them to work in correct manner. Anyway in the same place you where buying, I was selling so got spotted out at -50pips, to quick to fast and furious, I didn't sow a full decision, so wanted to go ahead of the market, and got slapped out. But initially I was sure that fundamentally the buck is week and will be week for quite some time, due to over-strenght from last year.I did ask you few days ago, how do you interpret the information from the ADR you are using...How does it helps you? I'm using the ADR which mark levels on your screen.
{quote} Impressive,
1st to determine which pair I'm gonna trade today ... Higher ADR pair (on previous day n 5 days) on top of the table ...
2nd to determine the TP ... about 60% of the previous day ADR ...
Regards,
{quote} I use ADR for 2 things .... 1st to determine which pair I'm gonna trade today ... Higher ADR pair (on previous day n 5 days) on top of the table ... 2nd to determine the TP ... about 60% of the previous day ADR ... Regards,
. U seem to me that you have quite some success, what is the rate of success and the drowdown? I see that you work with full lots.I wish I'll evolve to a decent level in trading.
. How much did you invest it, time and emotion, etc?!How do you trade? Intraday, strategic like the initial developer of the thread? I still found it as a problem, I want to do it daily but to do so, I'm doing from work, and sometime I found it uncomfortable, and because I have a small live account and working with mini lots, I don't know how can I do it on 4H and daily.
Thx,
CRis
- #56,632
- May 8, 2015 9:38am May 8, 2015 9:38am
- Joined Dec 2013 | Status: Trader | 1,680 Posts
Sad i'm not trying to understand PA
{quote} Thanks for the info, I'll start giving a second though, on how to work and apply the rules,.... still looking!
1. I put in my papers as a country head to dedicate more time to learn & earn (from FX) ... I have been trading small lots since 8 years ...
2. TRUST ME ... Big E (who started this awesome thread), Emmanuel, Phx62, Snarlyjack, Lastingwell, Omonisha, TSS, Mr.Aussiefx (need not be in the same order) and their posts are worth more than whole Google if you want to succeed in FX ... God is in small things ... Observe the smallest things their posts and their charts convey ...
3. My success / failure ratio is about 75 / 25 ... But ... whenever I have loss making trade ... I cut them short ... Learnt this from Phx ... whenever my trade runs in to making huge pips .. I add positions ... learnt this from Emmanuel and Snarlyjack ....
4. I had so many Indi's on my chart, which did not allow me to take timely decisions ... now my charts are simpler and cleaner ... courtesy Phx and Omnonisha ... Check their charts .... seeing is believing ....
5. Intra day ... Positional trading are all terminologies ... Trading at the end of the day is more about the Psyche of the trader ... Most of trades are open on 1H ... I do add positions depending on various factors ... 4H confirmation ... 1st trade running 35+ pips etc .... But I always try ... NOT TO keep my positions over week end ...
6. I do trade full lots ... as I sacrificed a 75,000$ a year job for FX trading ... I have to make / earn same ... to keep wife n family happy ...
Regards,
2015 Week 19 - Trade Summary:
5 trades in total:
- 3 wins
- 1 BE
- 1 Loss
Five trades this week on EA H1. 3 LO TMS trades and two (less successful) AUD news trades using straddled, pending orders. Some nice movement on this pair again this week, where despite two scheduled, major AUD news releases, the main move of the week, in fact came on Wednesday from a US release. Also, despite the strong moves and trends this week, the LO candle only set the high or low of the London session once. Regardless, a total of +8% on the account this week, making it my best week so far this year
Monday: I wasn't planning to trade on Monday since it was bank holiday in the UK. However, I opened my charts at LO anyway and saw a classic A+ TMS bounce setup forming. Took entry on a break below the Frankfurt candle, TDI green bouncing away from red, yellow and 50. A quick 50 pips. (+50,+4%)
Tuesday: I decided to trade the major AUD news release, knowing that it would probably form the move of the day for Tuesday. I setup pending buy and sell stops either side of the current price. Once price darted up, I moved my stop to BE but it was hit almost immediately. Of course price eventually followed the initial TDI signal downwards but by that point I had removed the sell stop. As expected, London and NY moved mostly sideways for the day following the news.
Wednesday: Opened my charts as normal at LO to see that price still had not broken Tuesday's London range. Since there was lots of minor EUR news releases during the LO candle, I let that play out before entering. It closed red (also forming the third leg of a PCRF) and I took the classic TMS entry on a break below it. Price was a little choppy as it hit the 200EMA but got to the TP just in time before the US news releases. (+50, +4%)
Thursday: I again decided to trade the major AUD news release on Thursday AM. Set the pending orders as before, but this time I was stopped out for a loss before I even knew what had happened. For anyone planning to trade news, my advice would be, demo first! The slippage and whipsaws are not for the faint-hearted. The news trade pulled price back to the 38.2 fib level from Wednesdays rally. Price formed a nice pin and began moving back up again. I took entry at LO on the 4th blue candle. The trade was split into two targets (+50, +100). The 50 pip target was hit on the following candle. Price then drew within a couple of pips of the +100 target before bouncing off last weeks high (white line on chart). This portion was eventually stopped out at BE.
Friday: Looked at my charts around LO but there had been a lot of movement in the Asian session and with a good take already for the week I stood on the sidelines and watched NFP play out.
Some excellent trades this week from everyone posting in the thread. Although I can't always post that often, I'm always checking in when I can and constantly learning from everyone's charts and trades. For any newbies reading this, you're in the right place. Just keep it simple and practice practice practice. There's a great community in this thread that'll help you if you're willing to put the time and effort into learning this method.
As always have a good weekend all!
Ballistical
5 trades in total:
- 3 wins
- 1 BE
- 1 Loss
Five trades this week on EA H1. 3 LO TMS trades and two (less successful) AUD news trades using straddled, pending orders. Some nice movement on this pair again this week, where despite two scheduled, major AUD news releases, the main move of the week, in fact came on Wednesday from a US release. Also, despite the strong moves and trends this week, the LO candle only set the high or low of the London session once. Regardless, a total of +8% on the account this week, making it my best week so far this year
Monday: I wasn't planning to trade on Monday since it was bank holiday in the UK. However, I opened my charts at LO anyway and saw a classic A+ TMS bounce setup forming. Took entry on a break below the Frankfurt candle, TDI green bouncing away from red, yellow and 50. A quick 50 pips. (+50,+4%)
Tuesday: I decided to trade the major AUD news release, knowing that it would probably form the move of the day for Tuesday. I setup pending buy and sell stops either side of the current price. Once price darted up, I moved my stop to BE but it was hit almost immediately. Of course price eventually followed the initial TDI signal downwards but by that point I had removed the sell stop. As expected, London and NY moved mostly sideways for the day following the news.
Wednesday: Opened my charts as normal at LO to see that price still had not broken Tuesday's London range. Since there was lots of minor EUR news releases during the LO candle, I let that play out before entering. It closed red (also forming the third leg of a PCRF) and I took the classic TMS entry on a break below it. Price was a little choppy as it hit the 200EMA but got to the TP just in time before the US news releases. (+50, +4%)
Thursday: I again decided to trade the major AUD news release on Thursday AM. Set the pending orders as before, but this time I was stopped out for a loss before I even knew what had happened. For anyone planning to trade news, my advice would be, demo first! The slippage and whipsaws are not for the faint-hearted. The news trade pulled price back to the 38.2 fib level from Wednesdays rally. Price formed a nice pin and began moving back up again. I took entry at LO on the 4th blue candle. The trade was split into two targets (+50, +100). The 50 pip target was hit on the following candle. Price then drew within a couple of pips of the +100 target before bouncing off last weeks high (white line on chart). This portion was eventually stopped out at BE.
Friday: Looked at my charts around LO but there had been a lot of movement in the Asian session and with a good take already for the week I stood on the sidelines and watched NFP play out.
Some excellent trades this week from everyone posting in the thread. Although I can't always post that often, I'm always checking in when I can and constantly learning from everyone's charts and trades. For any newbies reading this, you're in the right place. Just keep it simple and practice practice practice. There's a great community in this thread that'll help you if you're willing to put the time and effort into learning this method.
As always have a good weekend all!
Ballistical
Focus on the process and the profits will follow
- #56,637
- May 8, 2015 3:04pm May 8, 2015 3:04pm
- Joined Dec 2013 | Status: Trader | 1,680 Posts
2015 Week 19 - Trade Summary: 5 trades in total: - 3 wins - 1 BE - 1 Loss Five trades this week on EA H1. 3 LO TMS trades and two (less successful) AUD news trades using straddled, pending orders. Some nice movement on this pair again this week, where despite two scheduled, major AUD news releases, the main move of the week, in fact came on Wednesday from a US release. Also, despite the strong moves and trends this week, the LO candle only set the high or low of the London session once. Regardless, a total of +8% on the account this week, making...
Have a nice weekend and very good luck for coming times
Sad i'm not trying to understand PA
{quote} Congrats Ballistical you are a very discipline trader
Keep up the posts! I have learnt so much from your charts!
I saw you and TSS catch Thursday's LO move for the full 100
.....I was two pips short 
See you next week for another green week
Focus on the process and the profits will follow
