Forex trading live calls and set ups

[Lord Flasheart]

re shorted eur/gbp at 8804 s/l 25
i will short any where below 8824 as shown in chart
still believe i will get a big down move
I dont really listen to the news,i used to but missed too much watching it.been waiting 10 mins to get this post through

 

[Vaco]

This is a fast thread but lets see if i can join in and have some fun

long ej 112.09 stop -23 target +38

out at 39 for +30

 

[bedsit]

out at 39 for +30

Hi Vaco.
Nice to see you started live calls again. I took +30 from ej - maybe too early.
GU long doesn't look promissing though.

 

[Vaco]

Hi Vaco.
Nice to see you started live calls again. I took +30 from ej - maybe too early.
GU long doesn't look promissing though.

its never too early if you get out with a +

My views on trading have changed some what with the main one been that R:R aint worth s8it, its money banked that counts at the end of the day.

 

[Prawnsandwich]

its never too early if you get out with a +

My views on trading have changed some what with the main one been that R:R aint worth s8it, its money banked that counts at the end of the day.

Thats an interesting view.....the traditional view of RR is that it filters out poorer quality set-ups, therefore increasing probabilities in your favour....I don't trade forex yet, but without diverting the thread, would be interested in hearing more background on your shift in position...

 

[bedsit]

Is EU going to break that trend line (and 50% fib)?

 

[Mr Flibble]

Yeah I'm watching that too. We broke off the 50% retrace last time round. Looks like I backed the wrong pair. Cable has been rather dull compared to EUR/USD. AS of writing I'm looking at a possible break down with EUR but I have noticed on any run it likely to retrace at least 3 times per run up. This would be number 2.

 

[Vaco]

Thats an interesting view.....the traditional view of RR is that it filters out poorer quality set-ups, therefore increasing probabilities in your favour....I don't trade forex yet, but without diverting the thread, would be interested in hearing more background on your shift in position...

it depends on where your edge lies and how good/accurate it is at predicting short term price movement.

A high win % (60%+) with a poor R:R ( say risk 1 reward 0.8) will still give you a smoother equity curve then a more traditional set up of 40% win rate with a 1:2 risk:reward.

Fewer drawdowns mean less stress or more aggressive use of leverage can be sustained.

if a 1:1 r:r and a coin flip can get you a 50% win rate, then surely a bit of TA and common sense can get you up to 60%.

Thats not to say that all my trades have a particular r:r in fact i dont even think about it, my targets are based on where price is likely to get to and even then once i'm within 5-10 pips of that target i'll exit early if price is faltering. What happens next is only of emotional consequence ( yes i got out near the top or nooooo i could of had another x amount)

hope that helps and if its out of place in this thread i'll delete it.

 

[Prawnsandwich]

it depends on where your edge lies and how good/accurate it is at predicting short term price movement.

A high win % (60%+) with a poor R:R ( say risk 1 reward 0.8) will still give you a smoother equity curve then a more traditional set up of 40% win rate with a 1:2 risk:reward.

Fewer drawdowns mean less stress or more aggressive use of leverage can be sustained.

if a 1:1 r:r and a coin flip can get you a 50% win rate, then surely a bit of TA and common sense can get you up to 60%.

Thats not to say that all my trades have a particular r:r in fact i dont even think about it, my targets are based on where price is likely to get to and even then once i'm within 5-10 pips of that target i'll exit early if price is faltering. What happens next is only of emotional consequence ( yes i got out near the top or nooooo i could of had another x amount)

hope that helps and if its out of place in this thread i'll delete it.

OK ta ..makes sense

 

[bedsit]

Is EU going to break that trend line (and 50% fib)?

Well it went through it - a bit of retest?

 

[Lord Flasheart]

eur/gbp has to be down now, i hope so,still short

 

[Lord Flasheart]

heres chart

 

[Shakone]

Bedsit, do you mind if I ask why you have those white channel lines there? They don't seem to be joining anything in particular...

Or is this an old channel?

 

[bedsit]

Bedsit, do you mind if I ask why you have those white channel lines there? They don't seem to be joining anything in particular...

Or is this an old channel?

Hi Shakone.
They are Andrew's pitchforks. I've been using them for some time as a guidance. I use significant extremes (on whatever time frame). The idea is the price should hit the median (middle line) 80% of the time. Only difficult part is to choose the right extremes.

 

[bedsit]

Hi Vaco.
Nice to see you started live calls again. I took +30 from ej - maybe too early.
GU long doesn't look promissing though.

It didn't look promissing, but I took the profit. That was a choppy ride - good to be patient sometimes.

Still is - fast reactions needed.

 

[bedsit]

GU formed a nice spiky candle. If there was a normal price action would consider short. Anyway had enough of it for a day.

 

[bedsit]

GU formed a nice spiky candle. If there was a normal price action would consider short. Anyway had enough of it for a day.

Enough of GU, but EU looks interesting.

 

[Lord Flasheart]

heres chart

should be all the way down now, stop is still 8825, im looking for a big pay day
will take 1/2 off at 60 which will more than cover earlier loses and give me a free trade.

 

[bedsit]

should be all the way down now, stop is still 8825, im looking for a big pay day
will take 1/2 off at 60 which will more than cover earlier loses and give me a free trade.

Looking at GU - it may spike all of a sudden (faster than EU) and take EG down?

But again I have no idea as where will GU go.

 

[Lord Flasheart]

short eur/chf at 1.3346 sl 20

thats me fully loaded short eur/gbp and eur/chf,hope im right or it could be an exspensive week