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  • #1,019,061
  • Aug 13, 2015 11:38am Aug 13, 2015 11:38am
4h close in 30 min.. if below 1141 its on london bear side 1142+ bulls side.. still adr room today.. its bounced to 1148, thats a bear norm.. up to 1209 from 1144 is 65 pips.. the setup below is about 3x 65.. of course a LL is needed.. and if one wants to short or long.. waiting to see if 1079 is broken or not is not a waste of time.. even if 1079 breaks.. bears may still be able to enter at 1144 later (after break).. if it breaks bulls may change mind.. both are free to do.. we didnt got back to 1181 last night, on a 1079 break its not a sure thing we come back to 1144 either ..
those who can, do. those who cant, talk about those who can
  • #1,019,062
  • Aug 13, 2015 11:42am Aug 13, 2015 11:42am
Quoting Ken A
{quote} Yes wrong
Wrong what?
  • #1,019,063
  • Aug 13, 2015 11:43am Aug 13, 2015 11:43am
Quoting goldfish3
{quote} Interesting. Common to take partial at a level. But partial, during a retrace, gives the open position some draw down. Why dont you just avoid the drawdown by closing the position and reentering? Catch my drift? Closing half the move at a target and letting the other half run a drawdown to a perceived level is giving up the same amount of potential profit. correct me if im wrong of course.
my assumption it that the price will continue higher so I took no profits at pivot
I decided to increase my position by 50% around pivot where I consider this to be a low risk add because I am expecting pivot to hold up.
Although I have a sell stop just below that 50% entry point, its primary goal is to get me out of the additional position for just a few pips loss on the 50% add if pivot does not hold.
because of the way my system works that would actually also have the effect of banking some of the profit from the original position in this case 1/3 of net profit.
I am not interested in closing and reopening positions (and paying spread) just to make DD on an open position look slightly better, I don't need to worry about such things.
  • #1,019,064
  • Aug 13, 2015 11:43am Aug 13, 2015 11:43am
Quoting edyraper
{quote} thanks for sharing your opinion . do you care about openings ? NY opened lower than yesterday (1.11639 to 1.11036 ) london low is 10796 yesterday was 10907 ? is it meaning you anything and we opened the week 0963~ do you think we can go there tomorrow ? (like last two weekly candle did ) ?
i cant possibly keep tract of all variables. closes are hard enough on 2 main time frames.. plus i do 1 4 8 12.. anyway see if are not it bounces 1111 bears and bulls would allow 1111 again st
those who can, do. those who cant, talk about those who can
  • #1,019,065
  • Aug 13, 2015 11:48am Aug 13, 2015 11:48am
Quoting gatorinla
{quote} either way from 1144, the larger s/r is at 1209 with a month close to back it.
y the monthly high zone will no doubt cause a kink in the journey, kinks are to be expected
  • #1,019,066
  • Aug 13, 2015 11:54am Aug 13, 2015 11:54am
Quoting edyraper
{quote} thanks for sharing your opinion . do you care about openings ? NY opened lower than yesterday (1.11639 to 1.11036 ) london low is 10796 yesterday was 10907 ? is it meaning you anything and we opened the week 0963~ do you think we can go there tomorrow ? (like last two weekly candle did ) ?
yeah we can go to 0964 very fast when shine wears off german gdp perception. look i took some trades probable for a st min.. they are still vulnerable. you cant take a short 50 or 100 pips after move starts if u are trying to follow me.. u will get burned.. i posted things before we got to wherever. all i need now is for max to give us some pivot cover. watch max, we are not aligned atm. but either one of us can change with pa.. i am not longing and dont expect to if 1079 breaks.. but at 1111 st bulls may come.. and the last few weeks bulls have control. the best place for bears to take control in weeks is/was 1209...
those who can, do. those who cant, talk about those who can
  • #1,019,067
  • Aug 13, 2015 12:00pm Aug 13, 2015 12:00pm
Daily open looks naked to me
  • #1,019,068
  • Aug 13, 2015 12:01pm Aug 13, 2015 12:01pm
Quoting MaxDoom
all the time the low of 1.1079 holds up these target zones are on the cards - centre one is primary {image}
These target zones, did you draw them using daily/weekly TF support/resistance or did you find them using Fib ? thanks
Speculation converts one man's capital into another man's income
  • #1,019,069
  • Aug 13, 2015 12:01pm Aug 13, 2015 12:01pm
Quoting Pharm0r
Daily open looks naked to me

you mean doji?
  • #1,019,070
  • Aug 13, 2015 12:02pm Aug 13, 2015 12:02pm
EUR/USD possible rebound from 1.12000 I think for now let's see the rebound will continue till 1.0950 a possible short opportunity can be made.
  • #1,019,071
  • Aug 13, 2015 12:02pm Aug 13, 2015 12:02pm
Quoting gatorinla
4h close in 30 min.. if below 1141 its on london bear side 1142+ bulls side.. still adr room today.. its bounced to 1148, thats a bear norm.. up to 1209 from 1144 is 65 pips.. the setup below is about 3x 65.. of course a LL is needed.. and if one wants to short or long.. waiting to see if 1079 is broken or not is not a waste of time.. even if 1079 breaks.. bears may still be able to enter at 1144 later (after break).. if it breaks bulls may change mind.. both are free to do.. we didnt got back to 1181 last night, on a 1079 break its not a...
odds better for 1111.. maybe -1079
those who can, do. those who cant, talk about those who can
  • #1,019,072
  • Aug 13, 2015 12:03pm Aug 13, 2015 12:03pm
"my assumption it that the price will continue higher so I took no profits at pivot I decided to increase my position by 50% around pivot where I consider this to be a low risk add because I am expecting pivot to hold up. Although I have a sell stop just below that 50% entry point, its primary goal is to get me out of the additional position for just a few pips loss on the 50% add if pivot does not hold. because of the way my system works that would actually also have the effect of banking some of the profit from the original position in this case 1/3 of net profit. Im assuming you mean 1/3 of of the profit that you see on the screen at the point you close? I am not interested in closing and reopening positions (and paying spread) like a couple of pips. wouldnt imagine that is a bother to your, or anyones profitability. just to make DD on an open position look slightly better, I don't need to worry about such things."-- this:

Assume that from your entry your were at the most recent high, from which we are at a retrace from currently, an obvious level. 50 odd pip move from entry. You close a third and take a 15 pip drawdown as we see to the next possible end of retrace. The "net profit" is now based on 2 thirds of your move. which is taking a 30% drawdown and minor possibility of more.

Now assume you take 100% profit from this obvious level. re-enter 15 pips down. Not only do you eliminate your risk of drawdown and risk of it breaking down, but you re-enter at your whole position.

The above is stated assuming by saying'system' you mean MM system not trading system. Just trying to understand. thanks.

Edit: the images just to justify my reasoning above.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 3 KB
Attached Image
  • #1,019,073
  • Aug 13, 2015 12:05pm Aug 13, 2015 12:05pm
Quoting cipid2012
{quote} These target zones, did you draw them using daily/weekly TF support/resistance or did you find them using Fib ? thanks
top secret
  • #1,019,074
  • Aug 13, 2015 12:10pm Aug 13, 2015 12:10pm
Quoting Ata-Turkoglu
{quote} Price went back above 1.1111 and 200 sma.. took profit and waiting for a good entry point.. no shorts for now.. after the first retrace we could start to think of opening longs again.. Happy Trades
Many thanks for respnse and nice advice.i am also looking for only long..what you expect from greece funda ..i guess it may test last low 1.1070/80 area again
Say something meaningful or Silence!!
  • #1,019,075
  • Aug 13, 2015 12:11pm Aug 13, 2015 12:11pm
Quoting seemoore
{quote} Agree. May retrace to 1.1124 first given the quick hit at 1.1145 (lower 1.618 extension). {image}
Your template burns in my eyes.. strange what cluttered charts hide all for informations.But i daw you already answered about the same stuff .. Guido
Risiko birgt immer auch die Chance.
  • #1,019,076
  • Aug 13, 2015 12:12pm Aug 13, 2015 12:12pm
Quoting gatorinla
{quote} yeah we can go to 0964 very fast when shine wears off german gdp perception. look i took some trades probable for a st min.. they are still vulnerable. you cant take a short 50 or 100 pips after move starts if u are trying to follow me.. u will get burned.. i posted things before we got to wherever. all i need now is for max to give us some pivot cover. watch max, we are not aligned atm. but either one of us can change with pa.. i am not longing and dont expect to if 1079 breaks.. but at 1111 st bulls may come.. and the last few weeks bulls...
Big thanks for sharing your thoughts
  • #1,019,077
  • Aug 13, 2015 12:15pm Aug 13, 2015 12:15pm
Quoting MaxDoom
{quote} top secret
now, I'm ... I want to learn from the best combined with experience in time
Speculation converts one man's capital into another man's income
  • #1,019,078
  • Aug 13, 2015 12:17pm Aug 13, 2015 12:17pm
Quoting MaxDoom
{quote} top secret
  • #1,019,079
  • Aug 13, 2015 12:17pm Aug 13, 2015 12:17pm
Quoting bizzbastian
{quote} what does "fff" mean? forex factory freaks??
haha lol why freaks ..why not friends..i mean FRIENDS!!
Say something meaningful or Silence!!
  • #1,019,080
  • Aug 13, 2015 12:19pm Aug 13, 2015 12:19pm
Quoting goldfish3
......-- this: Assume that from your entry your were at the most recent high, from which we are at a retrace from currently, an obvious level. 50 odd pip move from entry. You close a third and take a 15 pip drawdown as we see to the next possible end of retrace. The "net profit" is now based on 2 thirds of your move. which is taking a 30% drawdown and minor possibility of more. Now assume you take 100% profit from this obvious level. re-enter 15 pips down. Not only do you eliminate your risk of drawdown and risk of it breaking down, but you re-enter...
You are making the assumption the price will drop, I am not, that is the difference....
So if I don't add at this obvious level and price continues to rise then I am still at 100% not 150% of position
All of this comes from much experience I have no need to change what I do
You should understand that choosing when to and when not to do something is often more important than what you actually do and by example I traded down from pivot to 1.1084 earlier and I took 50% as soon as it hit and the other 50% shortly after, then the long (see today's posts)
My reference to system was to merely to MetaTrader 5 as a platform.
I am merely providing info about what I do with my EU trades people can take what they want from it if anything

anyway no problem you are welcome
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