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Forex Made Millionaire Thread for Blog Swing Trades

  • #721
  • Feb 16, 2016 7:37am Feb 16, 2016 7:37am
Long term swing trades isn't my style so I'm out for now with it leaving a channel on m1.
  • #722
  • Feb 16, 2016 7:41am Feb 16, 2016 7:41am
Quoting Geppy
{quote} Hey roadtogo! You were probably on my mailing list from awhile back. I used to be more active on the blog... I'm trying to get back into doing some more posts on a regular basis. I'm glad you got the email, took a position, and made some money. Nice work! I hope to see you joining us in this thread and on more trades.
How do I get on your mailing list if you get active with your regular blog post? I am very interested and checked out your blog
  • #723
  • Feb 16, 2016 7:41am Feb 16, 2016 7:41am
Quoting RadboneFX
Hi, I completely missed the breakout due to being at work . do you guys think it's worth putting a short on the last few pips? support is at 12347 on my chart. If not, i'll have to wait for another opportunity on another pair and hope i'm not looking the other way!
Hi..RadboneFX.



for safer, have to wait retracement at EMA/MA 200 of M1. and observe price action. see attach
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM1observe price action..png Size: 29 KB
  • #724
  • Feb 16, 2016 8:37am Feb 16, 2016 8:37am
Hi broomar,

I've been following this thread for a week or so/first time posting. Thank you for the analysis, I made 100 pips off the initial movement but closed my position and have regretted it ever since. I've been wondering if I should jump back in or not. I've only been trading forex since November so seeing where and how you calculated the retracement point is really helpful!
  • #725
  • Feb 16, 2016 8:51am Feb 16, 2016 8:51am
Quoting Pip-Miner
{quote} Geppy, you plan on stacking positions what are your thoughts on when we should stack the dragon or position in
Hey Pip-Miner. Pyramiding onto positions is something I almost always do. Being a swing trader, that's the gravy to it all!

The thing about adding to a position though is that it's 80% art and 20% science whereas finding setups and taking entries is the opposite (20% art and 80% science). It takes a fair amount of experience to feel out price action and know when it's safe to add and when you should back off.

I've added about 3 times since the drop started, but I'm not currently adding again right now.
check out my blog: forexmademillionaire dot com
  • #726
  • Feb 16, 2016 8:52am Feb 16, 2016 8:52am
Quoting Gullit
Found your blog geppy and start reading em especially the divergence textbook stuff. It was good and now this, i know it doesnt mean that much but respect man... ur good
Thanks Gullit! I appreciate the kind words.
check out my blog: forexmademillionaire dot com
  • #727
  • Feb 16, 2016 8:53am Feb 16, 2016 8:53am
Quoting Rurozan
Long term swing trades isn't my style so I'm out for now with it leaving a channel on m1.
You might want to read the very first post of this thread... this probably isn't the place for you. Quite honestly, I don't really want scalpers here because they'll pollute the thread with a bunch of "I'm long... I'm short..." with no explanation and no indication they're just scalpers. All it will do is confuse the folks here that actually want to learn to trade like a swing trader and make outsized profits.
check out my blog: forexmademillionaire dot com
  • #728
  • Feb 16, 2016 8:53am Feb 16, 2016 8:53am
Quoting Sarah121
{quote} How do I get on your mailing list if you get active with your regular blog post? I am very interested and checked out your blog
Just visit my blog and signup in the right-hand sidebar. I publish at least once a week (my weekly outlook) and sometimes more often than that. I'll also be publishing my performance too... hopefully starting next week (need to find the time to write it out).
check out my blog: forexmademillionaire dot com
  • #729
  • Feb 16, 2016 8:55am Feb 16, 2016 8:55am
Quoting fundmyvaca
Hi broomar, I've been following this thread for a week or so/first time posting. Thank you for the analysis, I made 100 pips off the initial movement but closed my position and have regretted it ever since. I've been wondering if I should jump back in or not. I've only been trading forex since November so seeing where and how you calculated the retracement point is really helpful!
That's why you need to commit to your trade plan, especially when you're a swing trader. Retracements happen, but not always. Once you master patience it's much easier to hone in on an entry and then just hold, hold, hold until either your target is hit or PA tells you it's time to get it out.
check out my blog: forexmademillionaire dot com
  • #730
  • Feb 16, 2016 9:02am Feb 16, 2016 9:02am
Just a heads up, guys. The 162.75 zone is actually relatively significant. It's the exact level that the 200 weekly moving average comes in at.
check out my blog: forexmademillionaire dot com
  • #731
  • Feb 16, 2016 9:17am Feb 16, 2016 9:17am
Quoting Geppy
{quote} You might want to read the very first post of this thread... this probably isn't the place for you. Quite honestly, I don't really want scalpers here because they'll pollute the thread with a bunch of "I'm long... I'm short..." with no explanation and no indication they're just scalpers. All it will do is confuse the folks here that actually want to learn to trade like a swing trader and make outsized profits.
Hey don't be so quick to kick me out lol. I am not a scalper but I do not have the balance vs lots at risk to sit out retracement. I'm here for the big swings and GBPJPY provides that, and you know what's going on a lot better than the Riders thread.

It's just sometimes if it doesn't feel right, you get your money off the table and that's what I did.

I would also never muddy the thread with needless calls. The overall trend is short as you've said and that's all that matters.
  • #732
  • Feb 16, 2016 9:24am Feb 16, 2016 9:24am
Also interesting today... US equities up pretty strong but USD/JPY has failed to take back 114.00 -- just sayin'...
check out my blog: forexmademillionaire dot com
  • #733
  • Feb 16, 2016 9:26am Feb 16, 2016 9:26am
Quoting RadboneFX
Hi, I completely missed the breakout due to being at work . do you guys think it's worth putting a short on the last few pips? support is at 12347 on my chart. If not, i'll have to wait for another opportunity on another pair and hope i'm not looking the other way!
Late entry is never nice... buy at the cheaper price, sell at the most expensive price!We have many others opportunities, just be patience!
  • #734
  • Feb 16, 2016 9:31am Feb 16, 2016 9:31am
Quoting sylbolid
{quote} Late entry is never nice... buy at the cheaper price, sell at the most expensive price!We have many others opportunities, just be patience!
I agree, this is not the time to be selling. Either sell into a decent retracement or sell into a break of the most recent lows. But don't sell when we're just chillin' 30 pips above the lows.
check out my blog: forexmademillionaire dot com
  • #735
  • Feb 16, 2016 9:38am Feb 16, 2016 9:38am
Quoting Geppy
{quote} That's why you need to commit to your trade plan, especially when you're a swing trader. Retracements happen, but not always. Once you master patience it's much easier to hone in on an entry and then just hold, hold, hold until either your target is hit or PA tells you it's time to get it out.
Thank you for the guidance Geppy, I'm learning a lot following this thread.
  • #736
  • Feb 16, 2016 9:40am Feb 16, 2016 9:40am
Quoting fundmyvaca
{quote} Thank you for the guidance Geppy, I'm learning a lot following this thread.
Glad to hear it, man.
check out my blog: forexmademillionaire dot com
  • #737
  • Feb 16, 2016 9:42am Feb 16, 2016 9:42am
Quoting RadboneFX
Hi, I completely missed the breakout due to being at work . do you guys think it's worth putting a short on the last few pips? support is at 12347 on my chart. If not, i'll have to wait for another opportunity on another pair and hope i'm not looking the other way!
Never a good idea to chase this beast. Try to wait for next round of opportunities.

Speaking of next round, anyone has anything in mind? I see strong support at 162.20 or so
is it good R/R to go long at around 162.20?
  • #738
  • Feb 16, 2016 9:56am Feb 16, 2016 9:56am
Quoting charron
{quote} Never a good idea to chase this beast. Try to wait for next round of opportunities. Speaking of next round, anyone has anything in mind? I see strong support at 162.20 or so is it good R/R to go long at around 162.20?
charron, considering longs completely disregards the point of swing trading and the theme of this thread. We've been waiting patiently for the downtrend to continue. Now that it has, we should all be holding tight with our shorts, waiting for an entry to get short, and/or waiting for an entry to add to our position.

Attempting to go long in a clear downtrend (or vice versa) is a great way to lose a lot of money, blow an account, and never learn how to become a successful trader. I don't think that's what people are here to do. If they are, I've completely failed at communicating the goal of what we're here to do.
check out my blog: forexmademillionaire dot com
  • #739
  • Feb 16, 2016 10:02am Feb 16, 2016 10:02am
The 5-minute chart is currently contending with the 50 moving average. I've also drawn a fib retracement of the move down. CCI looks stretched on the 5-minute too. For those currently short from much higher, I would not add here. But for those that are not yet short, I might consider a very small position with the understanding that I'd be adding more if we go a bit higher.

Attached Image (click to enlarge)
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However, if you can be more patient you might get a better entry at ~163.30, again, with the understanding that you'd add a bit more if we go higher. Hopefully the 50 bar moving average on the 15-minute chart (see below) comes down and starts enveloping this level. If so, it would be a nice confluence area to sell into.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2016-02-16 10.01.12.png Size: 259 KB
check out my blog: forexmademillionaire dot com
  • #740
  • Feb 16, 2016 10:28am Feb 16, 2016 10:28am
Quoting Geppy
The 5-minute chart is currently contending with the 50 moving average. I've also drawn a fib retracement of the move down. CCI looks stretched on the 5-minute too. For those currently short from much higher, I would not add here. But for those that are not yet short, I might consider a very small position with the understanding that I'd be adding more if we go a bit higher. {image} However, if you can be more patient you might get a better entry at ~163.30, again, with the understanding that you'd add a bit more if we go higher. Hopefully the 50...
Hi Geppy,
Just wondering, to get the wave 4 retracement of wave 3, am I doing this correctly, to put fib on the wave 3...?
The .382 retrace is 163.25, which is close to your 163.30
Then the 1.272 extension to wave 5 gives us 161.87, which is conservative.....Thanks
Attached Image (click to enlarge)
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