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  • #6,541
  • Apr 8, 2016 7:42am Apr 8, 2016 7:42am
GER30 +48. Went to lunch and came back to TP.
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  • #6,542
  • Apr 8, 2016 7:46am Apr 8, 2016 7:46am
Quoting PhilippineFX
dax 30 +22 +21 +3 +1 +22{image}
Nice pips Philippine. I really should look into smaller brick trading...seems that pips can be pulled rather fast.
  • #6,543
  • Apr 8, 2016 9:16am Apr 8, 2016 9:16am
Trades from today so far... decided to close them as have passed 32 minutes and not much action in DAX. DOW +35 DAX+3.

I would love to trade London sesion... it always have more steady trends than NY, but I'm in CST-6. One hour behind NY. I'm thinking in automating some setups to grab some pips during London sesion, but still debating what would be them. Nothing complex.
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  • #6,544
  • Apr 8, 2016 9:45am Apr 8, 2016 9:45am
Of course we do need you Dee. No doubt about it. It is really encouraging to read you all days.

Quoting dee50
{quote}You lot don't need me any more, so I am taking the time to concentrate on my trading, see if I can improve, I'm getting far too many BEs.
  • #6,545
  • Apr 8, 2016 9:55am Apr 8, 2016 9:55am
Independent of the result of your trade, that big HDiv isn't it bearish?



Quoting JoshuaHope
Okay, so this GAP has created an interesting situation. After debating for a while, I decided to take a long trade based on the following logic. We have the gap up, and a big hdiv, then a div that led to a pullback to S/R BRN, then a div on that...Let see how this plays out. {image}
  • #6,546
  • Apr 8, 2016 10:11am Apr 8, 2016 10:11am
Quoting cfabian
Independent of the result of your trade, that big HDiv isn't it bearish? {quote}
Yes it is! When I started looking for trades, that hidden divergence was the first thing I saw. Now that gave me a sense, combined with the divergence, that I should be looking for a short trade. However, I was again, re-evaluating my analysis after seeing that this was a potential bullish flag getting ready to break out. What followed was a divergence at BRN and S/R level on the 5 chart and Stoch divergence on 10. Once the flag started breaking out, it was obvious that the hidden divergence has failed. Hdiv fails more than regular divergences. There was far more support for a long than a short, at least in my mind.
Edit - P.S. It kinda reminds me of a short trade i took on the 6th. Note the big Hdiv failing.
http://www.forexfactory.com/showthre...78#post8857978
  • #6,547
  • Apr 8, 2016 10:45am Apr 8, 2016 10:45am
Got another 2 trades. Closed them early for same slowliness in the market. Minutes after they went my way big time.... damn !!!
DAX -10, DOW +12
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  • #6,548
  • Apr 8, 2016 11:03am Apr 8, 2016 11:03am
GBPJPY+48+30+10+13. Back again, just giving the Dragon another try.

Hi Joshua, not sure about your spread on this pair, my little indi in bottom RH is showing 2.5 - 3.0 pip spread and I don,t pay commission. Dax ATM has increased to 2.0 pips which is normal for after hours.
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Cut your Losers short and let your Winners run.
  • #6,549
  • Apr 8, 2016 11:29am Apr 8, 2016 11:29am
Quoting dee50
GBPJPY+48+30+10+13. Back again, just giving the Dragon another try. Hi Joshua, not sure about your spread on this pair, my little indi in bottom RH is showing 2.5 - 3.0 pip spread and I don,t pay commission. Dax ATM has increased to 2.0 pips which is normal for after hours. {image}
Hey Dee. My apologies, I at throwing out data from my Pepperstone demo account, which really gives no indication of real life. But, my live account is a ecn razor pepperstone. So, i have to pay 7$ commission per 1 contract roundtrip for most pairs, except dax and dow. The good thing is that i have a good advantage in spread.
Best, Josh

Edit - my live account is giving me dax 10 points, that should stay that way until 22.00. GBP/JPY 17-20 points.
  • #6,550
  • Apr 8, 2016 11:30am Apr 8, 2016 11:30am
Last trades from the day.

I went long initially as there was an area of support, we had divergence there, closed at -15. Then tried short and another divergence formed for probable continuation short. Closed at +3. Price has crossed down the yellow line of the bottom. I missed the ride again for early exit. I'm still learning on how to handle trades, if better to let them run or hit your SL, or close them at few pips if retraces back to you. The thing is many times you miss the ride as I did today for few times.
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  • #6,551
  • Apr 8, 2016 11:30am Apr 8, 2016 11:30am
Someone asked when should they change down to a 3 pip chart, there is no technical answer to this, I change down when I feel I am not getting enough information for example, when things go into consolidation and the range is 15 - 20 ish pips I look down to see if I can scalp the range for 10 pips, or, if there is a trend running but I am getting hit for BE, i look down to see how much more room do I need to give with out sacrificing safety.

I had better explain that. On the 3 pip chart I watch the tails forming, are they forming more or less at the open of a new bar or are they forming more when price has pushed up near the close then the sellers push it back down past it's open only for the buyers to push it back up. This way I work out if I need to just give BE 5 more pips or 10.

Another example is, there is a trend on the 5 pip but there is no sign of a pullback for an entry, but the bars have tails showing that there are small pullbacks happening in the lower TF, a tail on a 5 pip bar can be 10 pips long but doesn't look like an entry opportunity, on the 3 pip chart that tail could be = to 2 - 3 bar pullbacks, an entry opportunity.

When things are really slow and paint is drying faster, changing down to the 3 pip can get you points on the board, but Remember, you are looking at a Macro view when a sudden spurt looks enormous and you panic because you think you will get left behind, when in reality it is only 10 pips, 2 x 5 pip bars.
Cut your Losers short and let your Winners run.
  • #6,552
  • Apr 8, 2016 11:54am Apr 8, 2016 11:54am
I am being lazy and not looking back to find the post. Some one asked about the change to the setting for the 5 EMA, my apologies, I recently told some one it was 5 EMA, close, shift +2, we did indeed change that a little while ago to

3 EMA, close, shift +2

It is really a matter of preference, I only changed it because visually, it fitted to Jaquemate's original Trendline method better, but it really does not make much difference to entries.
Cut your Losers short and let your Winners run.
  • #6,553
  • Apr 8, 2016 2:19pm Apr 8, 2016 2:19pm
Quoting dee50
I am being lazy and not looking back to find the post. Some one asked about the change to the setting for the 5 EMA, my apologies, I recently told some one it was 5 EMA, close, shift +2, we did indeed change that a little while ago to 3 EMA, close, shift +2 It is really a matter of preference, I only changed it because visually, it fitted to Jaquemate's original Trendline method better, but it really does not make much difference to entries.
that would be me lol, no problem have changed it though,
  • #6,554
  • Apr 8, 2016 6:46pm Apr 8, 2016 6:46pm
Quoting dee50
Someone asked when should they change down to a 3 pip chart, there is no technical answer to this, I change down when I feel I am not getting enough information for example, when things go into consolidation and the range is 15 - 20 ish pips I look down to see if I can scalp the range for 10 pips, or, if there is a trend running but I am getting hit for BE, i look down to see how much more room do I need to give with out sacrificing safety. I had better explain that. On the 3 pip chart I watch the tails forming, are they forming more or less at...
Yup the macro view on the Ren 1 or 2 chart can look like a tent zipper being opened when you discoverer a skunk is sharing the cot with you...
  • #6,555
  • Apr 10, 2016 5:17am Apr 10, 2016 5:17am
it is worth having a look at some of Lance Beggs videos, put together in the same style as his writing, clear and concise.
here is one from a series on "Exit Strategy".

"I know it all"!! say I (and some times you), But it doesn't stop me from refreshing my Jaded knowledge.

Inserted Video
Cut your Losers short and let your Winners run.
  • #6,556
  • Apr 10, 2016 5:18am Apr 10, 2016 5:18am
Quoting PhilippineFX
{quote} Yup the macro view on the Ren 1 or 2 chart can look like a tent zipper being opened when you discoverer a skunk is sharing the cot with you...
if that isn't the voice of personal experience I don't know what is!!
Cut your Losers short and let your Winners run.
  • #6,557
  • Apr 10, 2016 6:20am Apr 10, 2016 6:20am
It was comments like these that moulded my current trading style.

Inserted Video


This is the Mantra that many traders trade by. "Cut your winners short and let your losers run"
Cut your Losers short and let your Winners run.
  • #6,558
  • Apr 10, 2016 6:48am Apr 10, 2016 6:48am
Quoting JoshuaHope
{quote} Edit - my live account is giving me dax 10 points, that should stay that way until 22.00. GBP/JPY 17-20 points.
Just reading back thru some of the posts and spotted this.
You realize that DAX 10 points = 1 pip spread and GBP/JPY 17 - 20 points = 1.7 - 2.0 pip spread? it all depends on which Spread Indicator you are using as to how it interprets and reports the spread.

Funny thing, I am with Pepperstone as well but the spread on the DAX changes to 2.0 pip at approximately 17.30 CET (GMT+1) which coincides with the close of the Cash session at the exchange.
Cut your Losers short and let your Winners run.
  • #6,559
  • Edited 7:26am Apr 10, 2016 6:57am | Edited 7:26am
Thanks to who ever it was that recommended "Peaky Blinders", we have just finished watching seasons 1 & 2, absolutely excellent, it brought out the murderous gangster in me and I was shouting at the TV to "Kill the Bastard" which caused my wife to remonstrate with me "That it is only TV" and "They can't hear you, you know" which of course has exactly the opposite effect on me and I become even more animated.
Cut your Losers short and let your Winners run.
  • #6,560
  • Apr 10, 2016 7:18am Apr 10, 2016 7:18am
Quoting dee50
Thanks to who ever it was that recommended "Peaky Blinders", we have just finished watching seasons 1 & 2, absolutely excellent, it brought out the murderous gangster in me and I was shouting at the TV to "Kill the Bastard" which caused my wife to remonstrate with me "That it is only TV" and "They can't here you, you know" which of course has exactly the opposite effect on me and I become even more animated.
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