FX-2007: Feb19th > Feb 23th

[City Bound]

Yes it has been a tricky month, as very few large sustained moves. Hans 123 is well down for the month which is unusual. I believe that you trade a 7am breakout system? I personally find that although it gives some excellent entries, there are also a lot of false moves. As such I trade it with tight stops and sharp move to B/E if the opportunity occurs.

Positions today long at 56, stopped at breakeven

Short at 33,20 and 18, all at break even now

Yes I do. It's usually pretty good but recently it's been a bit of a pig. What's your signal to go to B/E?

 

[Offshore Trader]

20 points profit, stop to breakeven. Stop initially only 25 points. A lot of stops get hit, either at -25 or breakeven but then there are quite a lot of 100+ point moves. Additionally, this strategy only makes up about 25% of my trading but certainly of late has been the most successful. I reckon I need only about 1 successful trade every 7 working days, so patience is definitely required and YES, I do get really frustrated as well.

 

[ChowClown]

Thanks for the pic, J - what a 'howler'.

Short this morning's vebo @536 - had a long bias first thing but, as many here and elsewhere have commented, applying trend filters on intraday breakouts appears futile, backed up with testing that shows quite an even distribution of winning trades (long and short) using volatility expansion during the UK session.

 

[City Bound]

20 points profit, stop to breakeven. Stop initially only 25 points. A lot of stops get hit, either at -25 or breakeven but then there are quite a lot of 100+ point moves. Additionally, this strategy only makes up about 25% of my trading but certainly of late has been the most successful. I reckon I need only about 1 successful trade every 7 working days, so patience is definitely required and YES, I do get really frustrated as well.

How's that strat performed for you? I've tended towards a wider stop and waiting longer to move to B/E but I can see the merit in what you're saying.

 

[leovirgo]

Short this morning's vebo @536 -

Hi CC, 5-8am range low is 524. VEBO short should be lower than that. Have you tweaked the range (again)?

 

[eek]

Vebo short is 8am price (1.9566) - 70% of range (so 1.9570-1.9524*.7) = 1.9534 in my case.

 

[ChowClown]

Hi CC, 5-8am range low is 524. VEBO short should be lower than that. Have you tweaked the range (again)?

Hi LV, low of 527 using oanda. I've always used the 5-8 range, although in the last couple of weeks i've used 7am also to try and capture any earlier action.

 

[jacinto]

Thanks for the pic, J - what a 'howler'.

Short this morning's vebo @536 - had a long bias first thing but, as many here and elsewhere have commented, applying trend filters on intraday breakouts appears futile, backed up with testing that shows quite an even distribution of winning trades (long and short) using volatility expansion during the UK session.

no worries chow,

missed short on pinbar at top prior to the news, but thats life.

been in for 2 longs already from 95, first for +10 (moving stop too quickly), but lucky, got a new entry at same price, using, guess what? little pinbar entries. and now playing that Inverted H&S. now at BE, waiting for a break of 9520 to start locking profits, and hopefully and exit today with a good profit.

j

 

[Offshore Trader]

City Bound, as I say it is only a small part of my overall strat and works fine for me. I guess it depends on your loss tolerance as much as anything else. If it was all I was trading, then I would use a bigger stop but as I said there are a lot of flase moves between 7 and 8

 

[ChowClown]

no worries chow,

missed short on pinbar at top prior to the news, but thats life.

been in for 2 longs already from 95, first for +10 (moving stop too quickly), but lucky, got a new entry at same price, using, guess what? little pinbar entries. and now playing that Inverted H&S. now at BE, waiting for a break of 9520 to start locking profits, and hopefully and exit today with a good profit.

j

Interesting to note the PB's working consistently on the lower TF..nice trading.

I'm b/e on the vebo short and it looks as though it will be hit soon...if i'm lucky i'll get an exit signal at a lower level before then for a few pips.

 

[eek]

City Bound, as I say it is only a small part of my overall strat and works fine for me. I guess it depends on your loss tolerance as much as anything else. If it was all I was trading, then I would use a bigger stop but as I said there are a lot of flase moves between 7 and 8

7 to 8am is awkward but during the ranging periods of December and now when large moves occurred before 8am they have usually been valid.

I found that working on the 7am price with a 50pip trigger and a tight move to breakeven (after 30 pips) was a sensible approach.

 

[ChowClown]

I'm b/e on the vebo short and it looks as though it will be hit soon....

Flat. Onwards and upwards to DC's 647 perhaps...

 

[jacinto]

Interesting to note the PB's working consistently on the lower TF..nice trading.

I'm b/e on the vebo short and it looks as though it will be hit soon...if i'm lucky i'll get an exit signal at a lower level before then for a few pips.

thanks, quite happy really. seems I have finally learned to trade naked.

I must say, blending bars to read in between the line is the best learning i have had. best part is that it is transferrable accross time frames. used the 1 min bars to find best entries-stops for a 60 min setup

locking +10 on this trade, for 3 reasons.

1) get the minimum expected for the day (+20 with first trade)
2) dont want slippage on the news
3) long is already triggered, dont see a pullback below 9515 if it does, i will reconsider the trade.

j

corrected, locked +20 (10 min pinbar, that i think is a breakout-pullback bar, but just in case)

 

[Priceman]

I have tried to go long twice this morning but with my stop too close it's got me both times! Currently -40 after a good run last week and the first two days of this week. Waiting now for another long signal, obviously depending on what the news from the US brings...

May just give up for the day.

 

[dc2000]

thanks, quite happy really. seems I have finally learned to trade naked.

I guess what one does in ones own house is fine these days

 

[jacinto]

I guess what one does in ones own house is fine these days

Im trying to answer CFOY's question, so decided to take my cloths off :cheesy:

 

[dc2000]

my guess is he doesn't know the answer himself

 

[Priceman]

or it's changing each post... I can't be bothered over there anymore on that thread. Why itsn't something done about it?

Wasn't happy about my post being deleted... did anyone get chance to read it? Must have hit a nerve....

 

[trendie]

hey jacinto,

I have also started looking at pin-bars for entries on pull-backs.
(only screen-checking, not real-time)
they seem to identify good points earlier than the Stochs that I use, so I am with you on pin-bars.

The blended-bars are a bit of a revelation to me.
Do you also look for extremely small-range bars as potential signals?
I find they are intra-day equivalents of NR-7 etc.

 

[jacinto]

or it's changing each post... I can't be bothered over there anymore on that thread. Why itsn't something done about it?

Wasn't happy about my post being deleted... did anyone get chance to read it? Must have hit a nerve....

hey, becareful what you write, cause he can come and ban you from this thread