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Full Time FX Trading

  • #121
  • Aug 11, 2016 1:21pm Aug 11, 2016 1:21pm
Quoting 5abi
Thank you. I am ANAL about risk control You got a very nice upward trending equity curve there on your TE, I like it! {quote}
More examples please with charts.

Best regards
  • #122
  • Aug 11, 2016 2:22pm Aug 11, 2016 2:22pm
Hi 5ABI
Could you please explain your strategy in more detail and please show more charts with examples.
On page 1 in the description you say sell at 105.80 but the chart says sell at 106.70.
Do you sell at the top of the BB or at the bottom?
According to page 1 you use the Stochastics on Daily and BB on 1H. But I see you are using it on the Weekly as well? Which TF do you then use for the BB?
What do you mean by a candle pearcing the BB? How is it then possible to place pending orders if you have to wait for this type of confirmation?
Hope to learn more from you.
Regards
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.png Size: 38 KB
  • #123
  • Aug 11, 2016 3:26pm Aug 11, 2016 3:26pm
Hi, strategy is to be in and out when volatility is beginning to creep up, while respecting the overall trend. See attached chart for NZDJPY long I took yesterday. There is no precise science behind this and this is more art than science. I wait for the candles to tag on BB. You then want to wait for some sort of rejection or refusal for price to "pierce" the bands. When price starts tagging the bands in such manner, to me it represents formation of dynamic support and resistance conditions. That chart you quoted me on, I sold at 105.80, the arrow at 106.7 was a "typo". Sorry about any confusion.


Quoting LifesAbeach
Hi 5ABI Could you please explain your strategy in more detail and please show more charts with examples. On page 1 in the description you say sell at 105.80 but the chart says sell at 106.70. Do you sell at the top of the BB or at the bottom? According to page 1 you use the Stochastics on Daily and BB on 1H. But I see you are using it on the Weekly as well? Which TF do you then use for the BB? What do you mean by a candle pearcing the BB? How is it then possible to place pending orders if you have to wait for this type of confirmation? Hope to learn...
Attached Image (click to enlarge)
Click to Enlarge Name: NZDJPYH1.png Size: 41 KB
Its all in the mind.
  • #124
  • Aug 11, 2016 3:29pm Aug 11, 2016 3:29pm
Here is another USDCAD short i recommend which was successful as well
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH1.png Size: 52 KB
Its all in the mind.
  • #125
  • Aug 11, 2016 3:31pm Aug 11, 2016 3:31pm
And finally GBPNZD short. Another winner. These examples are all from this week, and they are all H1 time frame. I myself trade multiple time frames but for sake of standardization of posting, I use H1 time frame.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZDH1.png Size: 39 KB
Its all in the mind.
  • #126
  • Aug 11, 2016 10:43pm Aug 11, 2016 10:43pm
GBPNZD [M15; BB] short

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 31 KB


Here is a trade I'm currently in.

Price piercing the upper BB line and then entry at the close of an M15 bearish candle with stops above PA and the upper BB.

TP just above the DO line.

ps. slightly risky since order flow is to the upside so the trade is a counter trend type setup.

Lets see!

Masterrmind............
Master your Mind then Master your Trades
  • #127
  • Aug 11, 2016 11:08pm Aug 11, 2016 11:08pm
I didnt take the trade. but lots of bullish divergence and a solid break of trend. if it bases at these levels would make for a nice inverse h&s
Attached Image (click to enlarge)
Click to Enlarge Name: GA.png Size: 93 KB
  • #128
  • Aug 12, 2016 2:30am Aug 12, 2016 2:30am
Will look for a possible short on EJ at 114.4x
  • #129
  • Aug 12, 2016 7:48am Aug 12, 2016 7:48am
Anybody trading GBPJPY? just caught the big move down..... hope it lasts
looking to take profit at recent post brexit lows.

By the way, i believe i know the basic probable technical movements of the market, but the fundamentals could be very tricky..
for instance, why does a news event for the USD cause other non-USD pairs to move so fast along side the USD pairs?

also, which currencies are considered as the safe haven currencies?, lastly, does Gold or silver have any special correlation with any pair or currency just like Oil has with CAD?

Appreciate the answers in advance
  • #130
  • Aug 12, 2016 10:35am Aug 12, 2016 10:35am
Quoting Masterrmind
GBPNZD [M15; BB] short {image} Here is a trade I'm currently in. Price piercing the upper BB line and then entry at the close of an M15 bearish candle with stops above PA and the upper BB. TP just above the DO line. ps. slightly risky since order flow is to the upside so the trade is a counter trend type setup. Lets see! Masterrmind............
Anyone jump onboard this trade call.

Winner!

ps. Have a great weekend when you all finally get there!

Masterrmind............
Master your Mind then Master your Trades
  • #131
  • Aug 12, 2016 10:40am Aug 12, 2016 10:40am
Thanks! Have great weekend! Slow week this was but I got a chance to be in on a couple of good trades. God speed to us all retail traders!

Quoting Masterrmind
{quote} Anyone jump onboard this trade call. Winner! ps. Have a great weekend when you all finally get there! Masterrmind............
Its all in the mind.
  • #132
  • Aug 12, 2016 10:53am Aug 12, 2016 10:53am
Quoting 5abi
Thanks! Have great weekend! Slow week this was but I got a chance to be in on a couple of good trades. God speed to us all retail traders! {quote}
Yes that GN short was super slow for a volatile pair but the day was a slow one.

Except for when the USD news came out .... that moved several pairs.

Some of which I'm still in .....

Take care,

Masterrmind............
Master your Mind then Master your Trades
  • #133
  • Aug 12, 2016 11:36am Aug 12, 2016 11:36am
Quoting Masterrmind
GBPNZD [M15; BB] short {image} Here is a trade I'm currently in. Price piercing the upper BB line and then entry at the close of an M15 bearish candle with stops above PA and the upper BB. TP just above the DO line. ps. slightly risky since order flow is to the upside so the trade is a counter trend type setup. Lets see! Masterrmind............
Hi Since you entered on the 15M TF what TF did you use for the stochastics to determine the momentum?
  • #134
  • Aug 12, 2016 11:58am Aug 12, 2016 11:58am
Could someone please tell me if this would be a valid BUY SETUP according to rules that I still don't fully understand. Just for illustration purposes and not taking into account that it's weekend.

On daily TF: Stochastics are up and parallel. (We don't care if it's overbought or oversold? Am I correct in saying this?)

On 1H TF: Bearish candle pierced BB. Enter after close of bullish candle.

BE at resistance line and TP at 61.8 ?

Also another question: How do you manage your trades? BE? TP? Do you move your SL as price starts moving and how do you decide where to place it?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURJPYDaily.png Size: 37 KB
Click to Enlarge Name: EURJPYH1.png Size: 38 KB
  • #135
  • Aug 12, 2016 12:55pm Aug 12, 2016 12:55pm
I would not have taken this trade you posted. The chart failed to make a higher high and higher low when it touched BB a second time. There no evidence the BB tags have been rejected.

This is the trade I took on EUR AUD. BB tagged, failed to pierce the lower bands and then the price broke through resistance on H1 time frame. Daily candles broke the downward momentum and stocks are starting to turn up.


Quoting LifesAbeach
Could someone please tell me if this would be a valid BUY SETUP according to rules that I still don't fully understand. Just for illustration purposes and not taking into account that it's weekend. On daily TF: Stochastics are up and parallel. (We don't care if it's overbought or oversold? Am I correct in saying this?) On 1H TF: Bearish candle pierced BB. Enter after close of bullish candle. BE at resistance line and TP at 61.8 ? Also another question: How do you manage your trades? BE? TP? Do you move your SL as price starts moving and how do you...
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2016-08-12 at 1.51.48 PM.png Size: 164 KB
Its all in the mind.
  • #136
  • Aug 12, 2016 1:11pm Aug 12, 2016 1:11pm
Quoting 5abi
I would not have taken this trade you posted. The chart failed to make a higher high and higher low when it touched BB a second time. There no evidence the BB tags have been rejected. This is the trade I took on EUR AUD. BB tagged, failed to pierce the lower bands and then the price broke through resistance on H1 time frame. Daily candles broke the downward momentum and stocks are starting to turn up. {quote} {image}
??????????????????? Is the green line the place where you made the buy entry?
  • #137
  • Aug 12, 2016 1:17pm Aug 12, 2016 1:17pm
Quoting 5abi
I would not have taken this trade you posted. The chart failed to make a higher high and higher low when it touched BB a second time. There no evidence the BB tags have been rejected. This is the trade I took on EUR AUD. BB tagged, failed to pierce the lower bands and then the price broke through resistance on H1 time frame. Daily candles broke the downward momentum and stocks are starting to turn up. {quote} {image}
Also on your chart you have stochastics but on page 1 you specifically say ONLY use the Stochastics on Daily and Weekly.

(Sorry for all the questions but I'm just trying to understand your strategy. I like this strategy cause it's nice and simple. Just trying to understand the rules)
  • #138
  • Aug 12, 2016 1:45pm Aug 12, 2016 1:45pm
Yes, that is the entry. If it goes up in my direction I will add more. This will only work for you, if you are risking no more than 1-2 percent per trade. If you put very tight stop losses then also it will not work for you. On this position my stops will be 60-80 pips.


Quoting LifesAbeach
{quote} ??????????????????? Is the green line the place where you made the buy entry?
Its all in the mind.
  • #139
  • Aug 12, 2016 1:47pm Aug 12, 2016 1:47pm
You are welcome to ask any number of questions. But it will help you if you adapted the strategy to your style of trading . I trade size but my stops are large and my risk per trade is low.


Quoting LifesAbeach
{quote} Also on your chart you have stochastics but on page 1 you specifically say ONLY use the Stochastics on Daily and Weekly. (Sorry for all the questions but I'm just trying to understand your strategy. I like this strategy cause it's nice and simple. Just trying to understand the rules)
Its all in the mind.
  • #140
  • Aug 12, 2016 3:34pm Aug 12, 2016 3:34pm
Quoting 5abi
You are welcome to ask any number of questions. But it will help you if you adapted the strategy to your style of trading . I trade size but my stops are large and my risk per trade is low. {quote}


5, ever held trades for more than 2 days?
your SL look pretty wide, do you cut a losing trade sometimes before it hits the stop?
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