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The sacred edge 2.0

  • #301
  • Apr 14, 2016 2:02am Apr 14, 2016 2:02am
EURUSD started the journey towards target @ 1.1220 and below . Due to US FIFO,Leverage and margin rules ,short from 1.1314 was closed by broker. short from 1.1395 couldn't be closed in profit due to FIFO rules. But its all good
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  • #302
  • Apr 14, 2016 2:04am Apr 14, 2016 2:04am
EURUSD 1.1255. Will short below 46 if signal confirms
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  • #303
  • Apr 14, 2016 2:23am Apr 14, 2016 2:23am
Quoting ephisi
EURUSD 1.1255. Will short below 46 if signal confirms {image}
In @ 1.12457 with 6 to 10 pips stop. Trying to catch the direction of the day. I am bearish biased with targets below TZ 1.1220
  • #304
  • Apr 14, 2016 2:50am Apr 14, 2016 2:50am
Quoting ephisi
{quote} In @ 1.12457 with 6 to 10 pips stop. Trying to catch the direction of the day. I am bearish biased with targets below TZ 1.1220
out -12 pips
  • #305
  • Apr 14, 2016 2:54am Apr 14, 2016 2:54am
Last attempt, shorting EURUSD 1.1256
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  • #306
  • Apr 14, 2016 3:21am Apr 14, 2016 3:21am
G'day mate.
I think your bias on EURUSD is correct, but your SL are real tight.
I have shorts @ 11251 and 11236.

I took +50 off Dax but it's choppy right now so it was easier to go with EU
The target on EU is 11050! So for 200 pips, the SL can be 66 pips (3:1) or 50 pips (4:1) or 25 pips (8:1) but EURUSD moves in 19.5 pip wave multiples... so 25 can be riskier.
A pip is only worth it if you know how much you risked to earn it
  • #307
  • Apr 14, 2016 3:23am Apr 14, 2016 3:23am
Nice work on the GA short.
I was tempted to long yesterday but thankfully I didn't. LOL

Currently got longs on UCAD.
I pulled the plug on GU shorts early morning yesterday which I am kicking myself for.... they were right at the 14208 mark but I lost patience! Lesson for newbies! LOL
A pip is only worth it if you know how much you risked to earn it
  • #308
  • Apr 14, 2016 3:26am Apr 14, 2016 3:26am
Quoting vlady1974
G'day mate. I think your bias on EURUSD is correct, but your SL are real tight. I have shorts @ 11251 and 11236. I took +50 off Dax but it's choppy right now so it was easier to go with EU The target on EU is 11050! So for 200 pips, the SL can be 66 pips (3:1) or 50 pips (4:1) or 25 pips (8:1) but EURUSD moves in 19.5 pip wave multiples... so 25 can be riskier.
Yes Vlad, as you advised i am now trading only with the daily prevailing trend. i agree with the tightness of stops. But surprisingly when it works the winning trades with the risk:reward ratio covers for the losses. I didn't believe it when i was being mentored but i have seen it work over and over again.i am looking to catch a trend. if it does not work today it will work anther day.what 10pips stop will not do, 20pips stop will likely not do.

your shorts and targets are good as price usually extends beyond TZ target(1.1220). lets see how it plays out
  • #309
  • Apr 14, 2016 3:35am Apr 14, 2016 3:35am
Quoting ephisi
{quote} Yes Vlad, as you advised i am now trading only with the daily prevailing trend. i agree with the tightness of stops. But surprisingly when it works the winning trades with the risk:reward ratio covers for the losses. I didn't believe it when i was being mentored but i have seen it work over and over again.i am looking to catch a trend. if it does not work today it will work anther day.what 10pips stop will not do, 20pips stop will likely not do. your shorts and targets are good as price usually extends beyond TZ target(1.1220)....
As I read your perspective here, I can only say congrats and you are right. This principle is over-arching. Small losses are better than big losses. It's the continuous challenge of trend trading.
A pip is only worth it if you know how much you risked to earn it
  • #310
  • Apr 14, 2016 3:43am Apr 14, 2016 3:43am
Just been looking at 1H charts. The DAX and EU plays are starting to form a different shape since London open.
I think short term, EU could be changing direction for a retrace and Dax looking to go short. I've cancelled all open trades EU shorts -20 I'm gonna open an EU long and target daily pivot which is right where the sell off happened yesterday. Will assess after that if it's still reloading for shorts. That target is 11315 where I shorted yesterday.
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A pip is only worth it if you know how much you risked to earn it
  • #311
  • Apr 14, 2016 3:48am Apr 14, 2016 3:48am
Out -11 @ 67 and Done for the day. Try again tomorrow if market will trend. daily Total -23
  • #312
  • Apr 14, 2016 3:49am Apr 14, 2016 3:49am
Quoting vlady1974
{quote} As I read your perspective here, I can only say congrats and you are right. This principle is over-arching. Small losses are better than big losses. It's the continuous challenge of trend trading.
Thanks Vlad and good luck with your shorts
  • #313
  • Apr 14, 2016 3:55am Apr 14, 2016 3:55am
Quoting vlady1974
Just been looking at 1H charts. The DAX and EU plays are starting to form a different shape since London open. I think short term, EU could be changing direction for a retrace and Dax looking to go short. I've cancelled all open trades EU shorts -20 I'm gonna open an EU long and target daily pivot which is right where the sell off happened yesterday. Will assess after that if it's still reloading for shorts. That target is 11315 where I shorted yesterday. {image}
coincidentally there is a mispricing gap that needs to be filled @ 1.1344 where the break out trade occurred. but i will not be going against the trend. i need EURUSD to pull up and gather momentum for new daily lows
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  • #314
  • Apr 14, 2016 3:56am Apr 14, 2016 3:56am
Quoting ephisi
{quote} coincidentally there is a mispricing gap that needs to be filled @ 1.1344 where the break out trade occurred. but i will not be going against the trend. i need EURUSD to pull up and gather momentum for new daily lows {image}
1.1344 and 1.1220 which level will be hit first. lol. complexities of trying to trade based on TZ alone. just stick to the trend wherever it will go.
  • #315
  • Apr 14, 2016 3:58am Apr 14, 2016 3:58am
lets see what pattern develops by london open tomorrow.
  • #316
  • Apr 14, 2016 4:00am Apr 14, 2016 4:00am
Quoting ephisi
{quote} 1.1344 and 1.1220 which level will be hit first. lol. complexities of trying to trade based on TZ alone. just stick to the trend wherever it will go.
Looks like EU Daily S1 has held. Usually this means that Daily Pivot becomes target.... or 50% between the 11280ish mark.
A pip is only worth it if you know how much you risked to earn it
  • #317
  • Apr 14, 2016 11:39am Apr 14, 2016 11:39am
Glad I quit early today. Nothing happened since I left. See you london open tomorrow.
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  • #318
  • Edited 1:54am Apr 15, 2016 1:53am | Edited 1:54am
Good morning all. Can we get a little move today? up or down. In my opinion we could go either way. i am bearish biased but ready to go bullish if price starts pointing north
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  • #319
  • Apr 15, 2016 2:36am Apr 15, 2016 2:36am
Quoting ephisi
Good morning all. Can we get a little move today? up or down. In my opinion we could go either way. i am bearish biased but ready to go bullish if price starts pointing north {image}
Didn't work this time . EURUSD back in range out @ 53 -7 pips. Will short again below 47 for last attempt for a short breakout.
  • #320
  • Apr 22, 2016 8:05am Apr 22, 2016 8:05am
Quoting ephisi
{quote} 1.1344 and 1.1220 which level will be hit first. lol. complexities of trying to trade based on TZ alone. just stick to the trend wherever it will go.
Its been a while i posted here.

EURUSD has taken a lot of time before attempting to revisit 1.1220. 1.1344 was hit first. Now 1.1220 needs to be taken out.
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