Forex trading live calls and set ups

[leovirgo]

Dollarswiss trade management plan

Short USDCHF 9791 SL28

yes, if it stays below 9765, I will stay in it for quite some time.. first, let's see if it doesn't reverse and take my stop

covered 1/2 at 9775.

I wanted to cover at 9765 - key support level - but it didn't trigger my limit.

Will scratch the trade if H1 closes above 9800.

 

[Lord Flasheart]

short eur/jpy at 114.40 s/l 114.6
from top of line. You swingers must think we are mad today.Trying to sell tops. I am only selling from top of lines and am being completely disciplined in what i do. Two losers is nothing

 

[Black Swan]

For the benefit of people on this thread can you explain how you pick your trades and timeframes,thanks

On the short term trades (taken off 5 min charts) it's (my interpretation of) standard and arguably highly subjective price action, although today I was late into those 2 trades as Friday is my walk my littlest to school day, so the PA had happened a few candles earlier. For me these two were slightly out of comfort zone 'punts'...which is why (mentally) I set limits of circa 50 pips. If and when (as it's not every day) I trade on smaller TFs, and I get circa 40-50, that's it for the day.

 

[leovirgo]

short eur/jpy at 114.40 s/l 114.6
from top of line. You swingers must think we are mad today.Trying to sell tops. I am only selling from top of lines and am being completely disciplined in what i do. Two losers is nothing

no worries m'lord. we've seen your lines showering golden pips before. :smart:

 

[Lord Flasheart]

On the short term trades (taken off 5 min charts) it's (my interpretation of) standard and arguably highly subjective price action, although today I was late into those 2 trades as Friday is my walk my littlest to school day, so the PA had happened a few candles earlier. For me these two were slightly out of comfort zone 'punts'...which is why (mentally) I set limits of circa 50 pips. If and when (as it's not every day) I trade on smaller TFs, and I get circa 40-50, that's it for the day.

so you look for certain price action,set a stop of 50,and just monitor it all day hoping for the days high or low

 

[leovirgo]

USDCHF set up

A gap has been filled, therefore it could continue the trend. Let's see.

 

[Lord Flasheart]

markets all stopped?

 

[Lord Flasheart]

Re: USDCHF set up

A gap has been filled, therefore it could continue the trend. Let's see.

how do you define your gaps,when forex is 24 hr.Couldnt see clearly enough on your chart,maybe expand chart,thanks

 

[Black Swan]

so you look for certain price action,set a stop of 50,and just monitor it all day hoping for the days high or low

Not quite Julian...I set stops of 25, rarely do I set limits. I could base them (stops) on HH or LL of the session but experience/probabilities has *taught* me that 25 is OK for most situations (average loss is currently 18 pips btw). Generally I'll only concentrate on 3 Euro pairs for 5 min TF trading, EU, EUR/CHF, EJ, and cable.

If I get 40-50 pips in the morning that's it for short term trading. If not I might look for opps. in the afternoon session, but unlikely..Rarely do I take more than 4/5 trades off the 5 min in 2 sessions, it's just not for me. If I can net circa 200 pips off the 5 min during a week it's a bonus to my swinging. This week it's approx. 140.

The 5 min TF trades are in addition to swinging 8/9 pairs, trades taken off 2-4hr TFs. I keep two trading accounts separate for this; fxcm and dbfx but use both marketscope and pro real time for charting.

 

[Lord Flasheart]

Not quite Julian...I set stops of 25, rarely do I set limits. I could base them (stops) on HH or LL of the session but experience/probabilities has *taught* me that 25 is OK for most situations (average loss is currently 18 pips btw). Generally I'll only concentrate on 3 Euro pairs for 5 min TF trading, EU, EUR/CHF, EJ, and cable.

If I get 40-50 pips in the morning that's it for short term trading. If not I might look for opps. in the afternoon session, but unlikely..Rarely do I take more than 4/5 trades off the 5 min in 2 sessions, it's just not for me. If I can net circa 200 pips off the 5 min during a week it's a bonus to my swinging. This week it's approx. 140.

The 5 min TF trades are in addition to swinging 8/9 pairs, trades taken off 2-4hr TFs. I keep two trading accounts separate for this; fxcm and dbfx but use both marketscope and pro real time for charting.

thanks,very interesting, 200 on top thats great.i rarely get that many,but have bigger fluctuations.Its something im try to lessen

 

[leovirgo]

Re: USDCHF set up

how do you define your gaps,when forex is 24 hr.Couldnt see clearly enough on your chart,maybe expand chart,thanks

It's on the chart. I can even see it without expanding the chart. You didn't look at the chart I posted?

Ok, I'll link it up in full size.

 

[Lord Flasheart]

short eur/jpy at 114.40 s/l 114.6
from top of line. You swingers must think we are mad today.Trying to sell tops. I am only selling from top of lines and am being completely disciplined in what i do. Two losers is nothing

taken 1/2 off at +20, did this as still quite heavily exposed in euro.My eur/gbp trade is still going and has been in for 15 hrs now.I cant remember last time i had a trade that long

 

[jon1971]

Re: USDCHF set up

It's on the chart. I can even see it without expanding the chart. You didn't look at the chart I posted?

Ok, I'll link it up in full size.

Leo, are you sure that's not erroneous data, I've no gap on my chart, just a long bear bar.

EU showing signs that it wants to go my way, may just mitigate the loss.

 

[leovirgo]

Re: USDCHF set up

Leo, are you sure that's not erroneous data, I've no gap on my chart, just a long bear bar.

Probably, it doesn't matter if it's a gap or not, I am not too bothered about it anyway. It is a major area (9830). I'll take my chance as long as it stays down.

 

[jon1971]

Re: USDCHF set up

Probably, it doesn't matter if it's a gap or not, I am not too bothered about it anyway. It is a major area (9830). I'll take my chance as long as it stays down.

agree, price certainly moved away from that level rapidly...

 

[leovirgo]

A lot of news to come out for USD this afternoon. It could totally turn back up. I want to watch how it behaves near 9750-65. A test of 9720 is likely.

 

[leovirgo]

Good thing is, I can post the chart(s) and my trade management on a slow day like today.

 

[jon1971]

A lot of news to come out for USD this afternoon. It could totally turn back up. I want to watch how it behaves near 9750-65. A test of 9720 is likely.

US figures yesterday were quite dollar bullish, let's see what today holds.

 

[Lord Flasheart]

Guys, i cant seem to access Jons signature at the bottom. All I can see is a red cross.Any ideas how to correct this. I know its in my settings,but where. As you can gather im no genius with comps and my normal fixer is away and i cant get hrough to virgin media.thanks

 

[jon1971]

A lot of news to come out for USD this afternoon. It could totally turn back up. I want to watch how it behaves near 9750-65. A test of 9720 is likely.

Blimey you're right 9 sets of numbers by my count + FOMC speech...