I'm ready to sell NC now as M15 close
Attached Image (click to enlarge)
- #1,103
- Jul 7, 2016 1:21pm Jul 7, 2016 1:21pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #1,105
- Jul 7, 2016 1:45pm Jul 7, 2016 1:45pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
Hey guys, so posting my second day of trades. Am learning Multiple Entry at same time as using this pivot method, so a lot to think about all at once.
Trade 5: Win 213 pips - quite pleased with this one, entered with reasonable TDI and managed to catch a good exit instead of being greedy.
Trade 6: Win 260 pips - a bit of an experiment here, seeing what would happen averaging in on the upswing, no TDI confirmation. Hit TP set at mid-point of previous wave. To be honest, was expecting it to turn at R38 as it did previously but it kept going up, and up ...
Trade 7: Loss 38 pips - rubbish trade, not sure what I was thinking entering so late. Also choice of pair was terrible in the light of going long on the above 2 pairs - Note to self ... Read up on Currency Correlation!
Comments welcome as always.
Trade 5: Win 213 pips - quite pleased with this one, entered with reasonable TDI and managed to catch a good exit instead of being greedy.
Trade 6: Win 260 pips - a bit of an experiment here, seeing what would happen averaging in on the upswing, no TDI confirmation. Hit TP set at mid-point of previous wave. To be honest, was expecting it to turn at R38 as it did previously but it kept going up, and up ...
Trade 7: Loss 38 pips - rubbish trade, not sure what I was thinking entering so late. Also choice of pair was terrible in the light of going long on the above 2 pairs - Note to self ... Read up on Currency Correlation!
Comments welcome as always.
- #1,109
- Jul 7, 2016 2:26pm Jul 7, 2016 2:26pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
Hey guys, so posting my second day of trades. Am learning Multiple Entry at same time as using this pivot method, so a lot to think about all at once. Trade 5: Win 213 pips - quite pleased with this one, entered with reasonable TDI and managed to catch a good exit instead of being greedy. {image} Trade 6: Win 260 pips - a bit of an experiment here, seeing what would happen averaging in on the upswing, no TDI confirmation. Hit TP set at mid-point of previous wave. To be honest, was expecting it to turn at R38 as it did previously but it kept going...
Nice going
In trading, you have to be defensive and aggressive at the same time
- #1,110
- Edited 5:04pm Jul 7, 2016 4:02pm | Edited 5:04pm
- Joined Nov 2015 | Status: Trader | 412 Posts
{quote} That's fine but you are missing out on TDI and angelator.Love seeing those arrows for quick survey. Congrats on 25% gain wow wow
"This was neatly captured in the following statement; Conversely, further reductions in the OCR could pose a risk to financial stability through their effect on credit growth and house prices. While the outlook for CPI inflation will ultimately determine the future path of monetary policy, the trade-off against financial stability risk needs to be carefully considered. This casts a cloud over the odds of an August cut, which we had seen as being pretty high. This could help support NZ short-end yields today."
http://www.interest.co.nz/bonds/8250...puts-australia
I think that why kiwi was so popular yesterday afternoon. It was perfect storm with S&P credit outlook against AU.
{quote} so you made 470+pips and lost 38? That's super! I am glad you got out quick. Nice going
Here is a tip some of you may find helpful, if you are like me and have a job that doesn't let you check on your trades on a PC, I found this setup will help a bit - its not ideal but its better than nothing!
I was able to replicate the 38, 61 and 100 weekly fibonacci pivots on my cell phone. Set the pivots to (H+L+C )/3.
The android application is Trade Interceptor, I set the pivot to purple, the R lines to cyan and the S lines to dark red - see attached.
Unfortunately I think it only works with a couple of brokers (Oanda FXCM and Swissquote), but I use it to check the pivot points then place trades on my broker app.
Happy pipping guys.
Hey guys, so posting my second day of trades. Am learning Multiple Entry at same time as using this pivot method, so a lot to think about all at once. Trade 5: Win 213 pips - quite pleased with this one, entered with reasonable TDI and managed to catch a good exit instead of being greedy. {image} Trade 6: Win 260 pips - a bit of an experiment here, seeing what would happen averaging in on the upswing, no TDI confirmation. Hit TP set at mid-point of previous wave. To be honest, was expecting it to turn at R38 as it did previously but it kept going...
{quote} Wow !!! Just three or four trades per month make more than 10%. Great !!!!
I will say this though - use of Multiple Entry combined with Davits pivots is a really powerful combination, the use of multiple small entries really seems to work. Still early days testing it for me but it smooths those unexpected spikes, reduces the stress of finding a perfect entry and lets you concentrate on finding a single good exit. Its about probabilities and percentages.
A quick question for everyone: does anyone know of a good trade management EA that lets you do Multiple Entry in a 'basket' and then close the whole basket in one go? I only have Cavemanager right now and that does the opposite (single entry - multiple exit).
I know there is one EA by Steve Hopwood called MPTM, but I have read that is it 'a beast' to learn and not a easy interface. Was wondering if anyone had other recommendations?
- #1,115
- Edited 6:10pm Jul 7, 2016 5:01pm | Edited 6:10pm
- Joined May 2011 | Status: Trader | 1,265 Posts
Hi Nostro. Nice trading.
Re fundamentals news, you may or may not be aware of the news calender right here at FF?
Watching N/C with interest too.
All the best GB.
http://www.forexfactory.com/calendar.php
Gold coming home. Update: Target hit ME X 3 = 120 pips.
Re fundamentals news, you may or may not be aware of the news calender right here at FF?
Watching N/C with interest too.
All the best GB.
http://www.forexfactory.com/calendar.php
Gold coming home. Update: Target hit ME X 3 = 120 pips.
'Fail to plan, plan to fail'
- #1,117
- Jul 7, 2016 9:24pm Jul 7, 2016 9:24pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
Couple of losing trades last night. I need focus on selecting setup criteria as confluence with PA, TDI, pattern, pivot. I have been overly confident and it hit hard.{image}
My moto is trade small.Small is $$.Had your positions were small you could of ride it out and actually come out in profit.
cheers don't sweat it
I am on same trade but instead of getting out I added more lots.That's just how I trade.I always like reserve troops
In trading, you have to be defensive and aggressive at the same time
- #1,120
- Jul 7, 2016 11:52pm Jul 7, 2016 11:52pm
- Joined Oct 2013 | Status: Trader | 3,656 Posts
{quote} don't beat yourself.Losses are normal.I have taken my share this month.Brexit is creating panic specially in Asia and PA just goes wild specially on NZD and less extend AUD My moto is trade small.Small is $$.Had your positions were small you could of ride it out and actually come out in profit. cheers don't sweat it I am on same trade but instead of getting out I added more lots.That's just how I trade.I always like reserve troops
No fundamental reasoning apart from chasing yield on the Kiwi but that has its limits.New Zealand central bank dep gov Grant Spencer speaks on housing
- RBNZ is concerned about growing housing imbalances
- Contemplating further macroprudential tools to curb housing market
- Considering tightening LTV ratios further, could be introduced by year end
- limits on debt to income ratios may also play a role
- Concerned about risks to financial and economic stability due to housing market imbalances
The comments have given NZDUSD a near 20 pip lift to a high of 0.7167 and just kept going.
- Further rate cuts could pose a financial stability risk
- CPI will ultimately determine monetary policy
Nice work here mate!