FX Trading Nov 26-30
- Thread starter graemenash
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graemenash
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Short EURUSD 1.3740 bid, stop 1.4756 offered.
Half my normal volume as the true entry as per my system was around 1000 GMT but I missed it. However I still feel it's worth a go as a trend re-entry setup while the earlier low around 1.4722 remains untested.
EDITS
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1241 price breaches start point of retracement - stop to b/e
1256 exit half at 1.4713 offered
1307 exit other half b/e
Half my normal volume as the true entry as per my system was around 1000 GMT but I missed it. However I still feel it's worth a go as a trend re-entry setup while the earlier low around 1.4722 remains untested.
EDITS
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1241 price breaches start point of retracement - stop to b/e
1256 exit half at 1.4713 offered
1307 exit other half b/e
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shadowninja
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Wow! That was interesting on EUR/USD.
Why the sad face, Mr Black, when in profit?
Why the sad face, Mr Black, when in profit?
graemenash
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Quick EURUSD short @ 1.4753 bid. All happened quite quickly so couldn't report in real-time.
1min reversal setup with 5min re-entry setup (as per bbmac rules). Price reacts from that setup and I sold at the 61.8 retrace of that reaction.
Sold half at 161.8 extension of the retrace (1.4746 offered). When 1min bar completed with OHLC completely below the 261.8 extension at 1.4738 bid, I moved stop in to 1.4740 offered.
Price traded 1.5 pips away from my target at 1.4731 offered then retraced to trigger stop at 1053 GMT.
+7 on half, +13 on half. Trade didn't reach it's maximum target but eventual gain was equal to initial risk.
1min reversal setup with 5min re-entry setup (as per bbmac rules). Price reacts from that setup and I sold at the 61.8 retrace of that reaction.
Sold half at 161.8 extension of the retrace (1.4746 offered). When 1min bar completed with OHLC completely below the 261.8 extension at 1.4738 bid, I moved stop in to 1.4740 offered.
Price traded 1.5 pips away from my target at 1.4731 offered then retraced to trigger stop at 1053 GMT.
+7 on half, +13 on half. Trade didn't reach it's maximum target but eventual gain was equal to initial risk.
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graemenash
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bbmac
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bad luck on that short graeme. The last 5min potential RBS zone is coexistant witn the 15min at 0638-0677 (the later also a former swing low) area, and within that there is a 5min lo-hi minor swing at 0641-0647.
0641 is of course 78.6% of the 0582-0832 move and 38.2 of 0351-0832 is at 0648 as is the 23.6% of the move from 0832 to todays lows around 0595. Former bid s now offers around there (MNI)
I thought the 1215pm gmt ' 2nd test ' entry short around there was better, being a 1min Reversal A (ii) with 5min Reentry type 2 confirm.
Generally speaking If getting in on these SBR/RBS based re-entries to trend, you really need your stop out of harms way, which ideallky is outside of the lower swing hi that makes up the top of a potential SBR zone in a down trend...understand though that with your 61.8 entries on divergence it's probably not possible re r:r
0641 is of course 78.6% of the 0582-0832 move and 38.2 of 0351-0832 is at 0648 as is the 23.6% of the move from 0832 to todays lows around 0595. Former bid s now offers around there (MNI)
I thought the 1215pm gmt ' 2nd test ' entry short around there was better, being a 1min Reversal A (ii) with 5min Reentry type 2 confirm.
Generally speaking If getting in on these SBR/RBS based re-entries to trend, you really need your stop out of harms way, which ideallky is outside of the lower swing hi that makes up the top of a potential SBR zone in a down trend...understand though that with your 61.8 entries on divergence it's probably not possible re r:r
bbmac
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bad luck on that short graeme. The last 5min potential RBS zone is coexistant witn the 15min at 0638-0677 (the later also a former swing low) area, and within that there is a 5min lo-hi minor swing at 0641-0647.
0641 is of course 78.6% of the 0582-0832 move and 38.2 of 0351-0832 is at 0648 as is the 23.6% of the move from 0832 to todays lows around 0595. Former bid s now offers around there (MNI)
I thought the 1215pm gmt ' 2nd test ' entry short around there was better, being a 1min Reversal A (ii) with 5min Reentry type 2 confirm.
Generally speaking If getting in on these SBR/RBS based re-entries to trend, you really need your stop out of harms way, which ideallky is outside of the lower swing hi that makes up the top of a potential SBR zone in a down trend...understand though that with your 61.8 entries on divergence it's probably not possible re r:r
0641 is of course 78.6% of the 0582-0832 move and 38.2 of 0351-0832 is at 0648 as is the 23.6% of the move from 0832 to todays lows around 0595. Former bid s now offers around there (MNI)
I thought the 1215pm gmt ' 2nd test ' entry short around there was better, being a 1min Reversal A (ii) with 5min Reentry type 2 confirm.
Generally speaking If getting in on these SBR/RBS based re-entries to trend, you really need your stop out of harms way, which ideallky is outside of the lower swing hi that makes up the top of a potential SBR zone in a down trend...understand though that with your 61.8 entries on divergence it's probably not possible re r:r
graemenash
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Regarding stops I'm fairly happy with positioning above the hi/lo of a particular divergence setup, this comes from some extensive study of 1min neural network charts I did earlier this year that taught me a lot about how the market respects certain points even on a 1min chart.
Think the main problem with that last trade was the fact that it was just a marginal setup, only same peak osma div on 1min etc. Should have been taken on half volume at most.
Am now short from 2.0626 on the retrace following the better setup as you mention above, stop 2.0648.
If this trade gets stopped out, no worries move on to the next one, at least I followed my system. Shame the acct balance isn't helped by the earlier mistake. Still making 1-2 errors per week at the moment which need to be ironed out
Been disconnected from the Saxo platform for the last 20mins which is more than a little annoying
Think the main problem with that last trade was the fact that it was just a marginal setup, only same peak osma div on 1min etc. Should have been taken on half volume at most.
Am now short from 2.0626 on the retrace following the better setup as you mention above, stop 2.0648.
If this trade gets stopped out, no worries move on to the next one, at least I followed my system. Shame the acct balance isn't helped by the earlier mistake. Still making 1-2 errors per week at the moment which need to be ironed out
Been disconnected from the Saxo platform for the last 20mins which is more than a little annoying
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graemenash
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Saxo trade platform still down, and their UK/International sites are too so i can't even get a contact number.
Looking at the action on Metatrader it looks like I need to be setting my stop to b/e on this GBP/USD short and I'm in danger of missing a EUR/JPY entry too.
Looking at the action on Metatrader it looks like I need to be setting my stop to b/e on this GBP/USD short and I'm in danger of missing a EUR/JPY entry too.
graemenash
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Saxo still down, about two-and-a-half hours now. Should have been out of GBP/USD breakeven, now price has traded up to my original stop around 2.0645 bid. Can only hope that it's at least been triggered at their end.
My E-trade demo account which uses the same platform can't connect either , bit of a disgrace whoever's fault it is, there's probably people with far more at stake than me suffering the same problems.
EDIT
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Managed to find a phone no. after digging around in google, seems it's an ISP problem as it's only affecting certain UK customers.
My E-trade demo account which uses the same platform can't connect either , bit of a disgrace whoever's fault it is, there's probably people with far more at stake than me suffering the same problems.
EDIT
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Managed to find a phone no. after digging around in google, seems it's an ISP problem as it's only affecting certain UK customers.
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shadowninja
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Damn.
I always have my SB company's phone number and my account number to hand so I can close positions immediately.
shadowninja
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It's too quiet today for me. My setups haven't really completed. (Quite happy to sit and wait, mind.)
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