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Price-Structure-Order flow

  • #21
  • Nov 9, 2016 1:14pm Nov 9, 2016 1:14pm
Update on EUR/USD - Short:
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Same story on the EUR/USD market but the volatility was far more pronounced. The selling orders were place a bit higher than I anticipated, and where probably delayed a bit due to the election jitters. But The positions have been filled as I originally placed them and we are now positive approximately 180 pips on the aggregate. I am looking for lower lows on this market. I have targeted the 1.07 area for the first take profit.
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  • #22
  • Nov 9, 2016 1:17pm Nov 9, 2016 1:17pm
Update on Gold - Long:
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Gold spiked during the election then reversed but stopped just short of my current stop. Again volatility arising from the US election. Once all the "brew-ha-ha" is over, I expect this market to continue on its emerging bullish trend. The stop is now protecting the aggregate position at break even. Thus risk in this trade is essentially eliminated.
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  • #23
  • Nov 9, 2016 1:22pm Nov 9, 2016 1:22pm
Quoting aazishhunain
What a way to explain fundamentals role in trading. I wish you were my mentor in trading! I am waiting for the dust to settle down that's why passing on setups. Thanks once again for such a thorough explanation.
A good trader always knows when NOT to engage with the markets...Many people were slammed last night and this morning by trying to "outsmart" the markets...

This is why we have rules and use a disciplined, methodical approach. You never know for sure what will happen...that is why they call it "speculation". I haven't day traded this entire week, as I suspected that this kind of volatility might arise. When I go back and look at how each of these days has gone, I'm glad I stayed out. I would've had three losing days in a row...

Thus I saved myself the loss, which is not money I don't have to get back, which is the same has having won...remember it is not how much you make that counts, its how much you KEEP at the end of the day.
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  • #24
  • Nov 9, 2016 1:34pm Nov 9, 2016 1:34pm
Sir, one more favor
Please don't leave to post here as there is not much contribution from other traders that can demotivate you. I will share my charts here in morning (1:00 AM this time) that will also help me to overcome my shortcomings. I read your reply in another thread where you demanded time and hard work from newbies who want to learn. I will show my commitment through my actions.
  • #25
  • Nov 9, 2016 1:52pm Nov 9, 2016 1:52pm
Quoting aazishhunain
Sir, one more favor Please don't leave to post here as there is not much contribution from other traders that can demotivate you. I will share my charts here in morning (1:00 AM this time) that will also help me to overcome my shortcomings. I read your reply in another thread where you demanded time and hard work from newbies who want to learn. I will show my commitment through my actions.
Happy to help if I can...
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  • #26
  • Nov 10, 2016 8:45am Nov 10, 2016 8:45am
Update on Gold Long:
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Position was stopped out at pretty much break even...a huge disappointment considering I was anticipating a large bullish move. Oh well, life goes on.
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  • #27
  • Nov 10, 2016 8:48am Nov 10, 2016 8:48am
Update on GBP/USD - Long:
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I have moved the stop up to lock in about 150 pips on the two lowest yielding positions and left the stop at the deepest entry still at risk. Again, I am anticipating a move higher at least up to the 1.29 area where I have limit orders waiting. I have decided to leave 1/3 of the position at risk as it has the best entry point and may for a good base position in case a bullish trend develops over the coming months...yes MONTHS, this position will stay on for a very long time.
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  • #28
  • Nov 10, 2016 10:12am Nov 10, 2016 10:12am
New Trade -- USD/MXN - short:
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New trade entry short on this market. Clearly it is counter trend and just shy of the ALL TIME high of this market. This market has been greatly influenced by the US election and campaign season. But enough is enough. I think this market is way over done, and after things settle down should drop back to more reasonable levels. As well, Mexico's economy (as with many in this area) is based on petroleum, which is beginning to rise.

So we'll see how this goes...it is a very small position and doesn't risk more than 1% of the account.
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  • #29
  • Nov 10, 2016 10:26am Nov 10, 2016 10:26am
hi don

simple / clean / imformative......................... I enjoy browsing your opinions / thoughts / trades

keep it up , I hope you do

regards & well wishes
  • #30
  • Nov 10, 2016 10:38am Nov 10, 2016 10:38am
Quoting nutts
hi don simple / clean / imformative......................... I enjoy browsing your opinions / thoughts / trades keep it up , I hope you do regards & well wishes
Much appreciated nutts...Of course you know my opinion (like all of them out there) is worth exactly what you pay for it...ie - NOTHING!!
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  • #31
  • Nov 10, 2016 11:00am Nov 10, 2016 11:00am
Another try for a long on Gold:
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Price is rapidly moving back to a demand area where the buyers jumped in. I have placed two pending order and we'll see if they get filled. The only doubt I have is that my trading window (weekly chart) is now showing lower highs, which does not inspire as much confidence. However, the monthly chart (from which I take my trend signals, has not changed since my last trade. So, we'll just have to see what happens. I have long since learned NOT to argue with the trend. That being said, I'm not too good at calling reversals until AFTER they become obvious to everyone...I know...not that brilliant but what can I say?
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  • #32
  • Nov 10, 2016 1:03pm Nov 10, 2016 1:03pm
update on EUR/USD - Short:
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Price has entered a significant area of demand that has held price three times. The intraday charts are now looking week and it seems clear that selling orders are waning. I have moved my stop down to lock in approx 150 pips on the aggregate position which puts the position at risk for a stop out. In order for price to reach my take profit area, it appears there will need to be a significant push in selling over the next Asian and/or London session. This area has held the down side since Feb. of this year, so I am skeptical sellers are still active in this area.
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  • #33
  • Nov 11, 2016 7:31am Nov 11, 2016 7:31am
Hey Don, I like what you'really posting here. Are you trading on a demo/live or hypothetical account?
Gentlemen always play by the rules, if they can't, they change them.
  • #34
  • Nov 11, 2016 7:33am Nov 11, 2016 7:33am
Also will you elaborate on why you decided to enter a trade and why you decided to close it a little more. Thanks for the hard work mate!
Gentlemen always play by the rules, if they can't, they change them.
  • #35
  • Nov 11, 2016 7:40am Nov 11, 2016 7:40am
Quoting Bsmile44
Hey Don, I like what you'really posting here. Are you trading on a demo/live or hypothetical account?
As I stated in the beginning this is a demo account to practice a long tern strategy for my FX account. I would refer you to posts #1-3.

Quoting Bsmile44
Also will you elaborate on why you decided to enter a trade and why you decided to close it a little more. Thanks for the hard work mate!
I believe I was doing that...can you elaborate further on what you are looking for in so far as "reasons"? Another trader asked the same thing and I am uncertain what you are looking for. Specifics on the signal? or levels? Again I am using this thread as a journal and am willing to discuss how I trade but not the specifics of my methodology...not that its any big secret or "special" proprietorial formula its that I don't wish to distract from the theme...However if you would be specific about what you want to see I will do my best to accommodate you.
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  • #36
  • Nov 11, 2016 7:44am Nov 11, 2016 7:44am
Update on Gold - Long:
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One position was triggered on this trade and price came just shy of triggering the other. I was probably kept out of this trade due to the spread. But price has not completely left this area yet and it is Friday, so we will see if we don't get a spike down to flush out the longs before moving higher.
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  • #37
  • Nov 11, 2016 7:50am Nov 11, 2016 7:50am
Update on GBP/USD - Long:
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The daily chart (an my trading window) has not produced a higher high and a higher low, providing more confidence in holding this position to the limit seen on the longer term chart. Stop is unchanged and will remain there until a new higher low forms.
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  • #38
  • Nov 11, 2016 7:54am Nov 11, 2016 7:54am
Update on EUR/USD - Short:
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This market is slowing down and that fact is now readily apparent on the intraday charts. While we did produce a lower low over night, price cannot seem to close there, even on the intraday charts. I may get stopped out on this trade before the day is over. If not most likely over the weekend...I will have to decide whether to close the trade today or leave it going...always a difficult decision.
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  • #39
  • Nov 11, 2016 7:58am Nov 11, 2016 7:58am
Update on WTI - Long:
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What was looking good a couple of days ago is starting to produce some doubts now as price sinks back into the demand area. This level did produce the anticipated rise, but that has been short lived. Again, on the commodities I look to some fundamentals, which I have not seen change with any significance thus I will hold a little longer.
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  • #40
  • Nov 11, 2016 8:06am Nov 11, 2016 8:06am
Finally...update on USD/MXN - Short:
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Well we all have fliers...and this one is mine. I am really scratching my head over the Peso. Mexico, as a country has good fundamentals, but the government here doesn't know how to exploit them and use them to create a strong economy. They rely too much on their neighbor to the north for their economic well being. This is their fatal flaw. If this government (or more correctly the people of this country) would get rid of its corrupt government and put in place the talent and intelligence that they all have, this country would surpass the US in just about every aspect.

For now, my short isn't looking good and will most likely stop out soon. I have learned some hard lessons in the past about trying to call a top or bottom, but still thought this was worth a shot. Chalk it up to "stupid tax".
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