trendie said:
hi trendie
no trading for me today. late start, ill child, and cable has already given its average daily share of pips by the time i opened the platform, and the US is apparently closed today, so will have to give it a miss. too bad.
tomorrow should be interesting
j
xx_joray_xx
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what is the average daily share of pips for cablejacinto said:
a_gnome
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Morning all & Happy New Year,
There seems to be a competing thread for weekly FX trading so not sure which one to use.
Over the holiday period my variation on Chow Clown's VEBO system basically churned around not really making or losing much. It's still struggling in this current range-based environmen (see daily charts).
Over the coming days I'll be easing my way back into my more discretionary swing trading and still soldiering on with the VEBO Variant.
Profitable trading to all for 2007!
There seems to be a competing thread for weekly FX trading so not sure which one to use.
Over the holiday period my variation on Chow Clown's VEBO system basically churned around not really making or losing much. It's still struggling in this current range-based environmen (see daily charts).
Over the coming days I'll be easing my way back into my more discretionary swing trading and still soldiering on with the VEBO Variant.
Profitable trading to all for 2007!
hornblower
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well this is a good start to the year
67 pts in the bag this morning on cable
67 pts in the bag this morning on cable
hornblower
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a_gnome said:
my system said it was a short from 5am this morning
a_gnome said:
thanks a-gnome. same here. only get in if get a reversal pattern in the shorter time frames.
the upsetting part is that i was short from 40 last night, closed at 20 doubting it would go all the way. too bad. took a massive 20 pips out of a 130 pip move on the short
j
this is what i post in front of my computer when i screw a trade, such that i focus on the mistake and not the loss or missed profit.
trendie
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good call hornblower - what a nice way to start the morning.
jacinto: do you trade Wolfe Waves for real, or is this for illustration purposes?
I have read the rules on his website - are they really that simple, or is there more to it?
(I think I can see them as formalised wedge-break-out-trading, but the counter-trend nature is the biggest psychological block for me to get over. But the target profit gives a context of expectation which is appealing- helps to quantify risk/reward.)
jacinto: do you trade Wolfe Waves for real, or is this for illustration purposes?
I have read the rules on his website - are they really that simple, or is there more to it?
(I think I can see them as formalised wedge-break-out-trading, but the counter-trend nature is the biggest psychological block for me to get over. But the target profit gives a context of expectation which is appealing- helps to quantify risk/reward.)
City Bound
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Morning chaps,
Took a short at around the top of the range, closed for 85 pips.
See you tomorrow chaps. :cheesy:
Took a short at around the top of the range, closed for 85 pips.
See you tomorrow chaps. :cheesy:
trendie said:
i am starting to do it for real. last nights trade was initially a wolfe trade.
you are right with the way to see the rules and the setup. since it anticipates the break of the wedge, it is nothing different to calling tops or bottoms. that is what i dont like, and it does go against the rules of any trend trader. on the other hand, as you well say, what i like is a setup that gives a clear target,
what i am finding is that the 5 or 15 min time frame works better for me, given the risk i am willing to take for a similar setup (i wouldnt trade a wolfe wave on the weekly and use 300 pip stops :cheesy: ). and yes, the rules are as simple as that. probably other small details that are not too complicated.
finally, depending on the wolfe wave that is identified, it is probably wiser to trade the breakout of the wedge rather than anticipate it.
j
Morning and HNY to all,
I'm currently short vebo 9690 and at b/e. Had a re-think on trade management, the drawdown during Dec (which may well persist for a while) made me realise that my stoplosses were at odds with my psych.
I 'need' a higher win rate, so to help achieve this i'm now using wider stops (volatility based, using the same £risk per trade) to give trades more room to breathe. I'm also forward testing the use of a trend filter and no longer re-arm orders once stopped out.
I'm currently short vebo 9690 and at b/e. Had a re-think on trade management, the drawdown during Dec (which may well persist for a while) made me realise that my stoplosses were at odds with my psych.
I 'need' a higher win rate, so to help achieve this i'm now using wider stops (volatility based, using the same £risk per trade) to give trades more room to breathe. I'm also forward testing the use of a trend filter and no longer re-arm orders once stopped out.
trendie
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smbtnt said:
yes, there appears to be 2 threads. ( 3 if you count Wolfe Wave )
if the opinion on here is to discontinue this one at the end of the week in favour of the other, I wont start a new one next week.
but, by the same logic, this thread covers general info, heads-up on eco-news, and related topics.
( actually, I think the Wolfe Wave trades would also be better merged into a bigger thread, so we can get a comparative with other styles, (BigBen, VEBO, etc) in a single location.)
if I get at least 10 votes in favour of continuing, I shall start a new thread next week.
