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Psych Levels, Pivots, and Trendlines - Resurrected

  • #10,441
  • Edited 4:55pm Jul 27, 2015 4:13pm | Edited 4:55pm
Quoting fxnikolaev
{quote} What ever, really dont care!!!!
fxnikolaev, do you mind answering a couple of questions? I noticed you trade several pairs and correlation always confuses me a lot when it comes to open more than one trade on different pairs.

1 - Which pairs do you trade?
2 - How do you treat correlation if you have to open more than one trade on different pairs?

best regards mate.
  • #10,442
  • Jul 28, 2015 1:59am Jul 28, 2015 1:59am
Quoting fuzz
{quote} fxnikolaev, do you mind answering a couple of questions? I noticed you trade several pairs and correlation always confuses me a lot when it comes to open more than one trade on different pairs. 1 - Which pairs do you trade? 2 - How do you treat correlation if you have to open more than one trade on different pairs? best regards mate.
Morning mate !!!

I have AC-AU, EJ-EU, GJ-GU, correlated pairs. Also I trade EA,UJ,UC,NU.

For correlation, some times u can find the same set up, or at least pairs moving in the same manner, in this case u open two trades.

Like this two right now AC-AU
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  • #10,443
  • Jul 28, 2015 2:35am Jul 28, 2015 2:35am
Gday all!
I had a trade this morning on the AUD/JPY.
Entry was a little early( I didn't think it was going to touch after the engulfing candle). But basically it was a bounce off the daily pivot/ 50sma.
Plus engulfing candle equals 20 pips profit!
Attached Image (click to enlarge)
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Happy trading to all
Cheers
Coastie
  • #10,444
  • Jul 28, 2015 2:40am Jul 28, 2015 2:40am
Quoting coastie
Gday all! I had a trade this morning on the AUD/JPY. Entry was a little early( I didn't think it was going to touch after the engulfing candle). But basically it was a bounce off the daily pivot/ 50sma. Plus engulfing candle equals 20 pips profit! {image} Happy trading to all Cheers Coastie
Good one

U had a perfect pennant right at PP, u could benefit from that one too, just saying
  • #10,445
  • Jul 28, 2015 2:42am Jul 28, 2015 2:42am
Quoting coastie
Gday all! I had a trade this morning on the AUD/JPY. Entry was a little early( I didn't think it was going to touch after the engulfing candle). But basically it was a bounce off the daily pivot/ 50sma. Plus engulfing candle equals 20 pips profit! {image} Happy trading to all Cheers Coastie
Consistent 20 pips a day, u have a nice approach mate, keep doing what u r doing mate
  • #10,446
  • Jul 28, 2015 2:50am Jul 28, 2015 2:50am
15m...... GU

Half a dozen resistance tests of MR1 before price dropped away. Entry just under the confluence of the TL and the 50sma. Exit on yesterday's R1 as price seems to have parked the bus there!
Attached Image
  • #10,447
  • Jul 28, 2015 3:05am Jul 28, 2015 3:05am
Quoting fxnikolaev
{quote} Good one U had a perfect pennant right at PP, u could benefit from that one too, just saying
Yeah thanks FXN,
I wasn't at the computer at the time of that pennant.
nice trade EV.
Cheers
Coastie
  • #10,448
  • Jul 28, 2015 7:00am Jul 28, 2015 7:00am
Quoting fxnikolaev
{quote} Morning mate !!! I have AC-AU, EJ-EU, GJ-GU, correlated pairs. Also I trade EA,UJ,UC,NU. For correlation, some times u can find the same set up, or at least pairs moving in the same manner, in this case u open two trades. Like this two right now AC-AU {image} {image}
Thanks for the answers mate, very clarifying.
Just one more if you don't mind, suppose you have a setup on AU, and another one on EU, do you take them both at same time or pick the best looking and simple ignore the other?
  • #10,449
  • Jul 28, 2015 7:17am Jul 28, 2015 7:17am
Quoting fuzz
{quote} Thanks for the answers mate, very clarifying. Just one more if you don't mind, suppose you have a setup on AU, and another one on EU, do you take them both at same time or pick the best looking and simple ignore the other?
To be honest, that is personal question, and it is up to your MM. I do take no more than 3 trades at a time, no matter are they correlated or not, but I do have some exception, if I have a profitable trade which is still running, I can move it in to BE and take a fourth one.

Be careful with dollar correlation, as they not correlated much
  • #10,450
  • Jul 28, 2015 7:27am Jul 28, 2015 7:27am
Quoting fxnikolaev
{quote} To be honest, that is personal question, and it is up to your MM. I do take no more than 3 trades at a time, no matter are they correlated or not, but I do have some exception, if I have a profitable trade which is still running, I can move it in to BE and take a fourth one. Be careful with dollar correlation, as they not correlated much
Thanks a lot FXN.
I'm more interested in uncorrelation to be honest, I mean, opening more than one trade on different, uncorrelated pairs, in order to smooth out equity curve.
  • #10,451
  • Jul 28, 2015 7:42am Jul 28, 2015 7:42am
Quoting fuzz
{quote} Thanks a lot FXN. I'm more interested in uncorrelation to be honest, I mean, opening more than one trade on different, uncorrelated pairs, in order to smooth out equity curve.
It depends what is your goal, If you want to trade your own money, as I do, your the only goal is to make profit every week, and the stats go to hell. But if you want to trade investors money, I would suggest you to lower your lot size, and bring your winners up to the top, they care about how much u will get a draw down on the trade, and over all exposure

Cheers mate
  • #10,452
  • Jul 28, 2015 9:16am Jul 28, 2015 9:16am
3 trades today. 2 wins one loss

AU: After spinning top break I entered on confluence of MA's, psych and S1, but looking back my entry was early since I should've waited for the TL break.

EJ: Entry on Triangle Break and bearish engulfing at PP + 13 MA. Price reversed and took my SL for a loss.

GU: TL break + bullish engulfing at confluence of MS1 and MA's. Entry and exit as marked.

Comments are welcome
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  • #10,453
  • Jul 28, 2015 11:31am Jul 28, 2015 11:31am
AJ M5
Price bounced off SMA50 and broke TL.
Attached Image (click to enlarge)
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  • #10,454
  • Jul 29, 2015 4:48am Jul 29, 2015 4:48am
Quoting Cold_W
AJ M5 Price bounced off SMA50 and broke TL. {image}
Nice one, Cold. Good use of a Trend line/SMA combination!
  • #10,455
  • Jul 29, 2015 4:49am Jul 29, 2015 4:49am
Quoting Cold_W
AJ M5 Price bounced off SMA50 and broke TL. {image}
nice mate
  • #10,456
  • Jul 29, 2015 4:50am Jul 29, 2015 4:50am
Quoting eyevoltage
{quote} Nice one, Cold. Good use of a Trend line/SMA combination!
Hi EV !!! Whats cracking doc ??? Have u been trading lately
  • #10,457
  • Jul 29, 2015 5:40am Jul 29, 2015 5:40am
Quoting fxnikolaev
{quote} Hi EV !!! Whats cracking doc ??? Have u been trading lately
Hi, fxn. Yesterday morning, I had the one trade, and then I had to get ready to bring my wife home from hospital 40 miles away! I see that there were some good trades whilst I was away!
  • #10,458
  • Jul 29, 2015 5:51am Jul 29, 2015 5:51am
Quoting eyevoltage
{quote} Hi, fxn. Yesterday morning, I had the one trade, and then I had to get ready to bring my wife home from hospital 40 miles away! I see that there were some good trades whilst I was away!
I hope ur wifre is getting better ! God bless u both !!!

In fact there was good trading opportunities, but there is gonna be many more.
  • #10,459
  • Jul 29, 2015 7:08am Jul 29, 2015 7:08am
Quoting eyevoltage
{quote} Nice one, Cold. Good use of a Trend line/SMA combination!
Thank you
This combination is simple and effective.

Here is another one
UJ M15
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  • #10,460
  • Jul 29, 2015 7:08am Jul 29, 2015 7:08am
Quoting fxnikolaev
{quote} nice mate
Thanks, bro
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