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[forexkunta]

Archer,
This is how I would count this move. That makes the uptrend complete and should see a very strong move to the downside over the coming weeks. time will tell!

Good morning
Here is how I see eur/usd - Elliott waves etc. Whatever the case it's in an uptrend imo.
What do you think? Can you comment on it/ draw different waves etc.?

Thanks

 

[Lord Flasheart]

That budget was just brilliant. ed Milliband asks the cabinet to raise their hands if they benefited from the tax cut. What a great move. He was talking on thin ground and a load of cr%p,but that was just brilliant

 

[robster970]

Guys, I don't participate in this thread because I can't multi-task. I am either trading or I am dicking around on here. I find posting whilst trading highly distracting.

How do you guys feel about me posting the occasional trade up (winners and losers obviously) shortly after the event with some small annotation on the 1m chart I use for ES?

If it's deemed against the ethos of the 'live' thread then completely understand. Let me know what you think.

 

[Lord Flasheart]

Guys, I don't participate in this thread because I can't multi-task. I am either trading or I am dicking around on here. I find posting whilst trading highly distracting.

How do you guys feel about me posting the occasional trade up (winners and losers obviously) shortly after the event with some small annotation on the 1m chart I use for ES?

If it's deemed against the ethos of the 'live' thread then completely understand. Let me know what you think.

Personally id look forward to seing your methods by way of a journal. What you want to say would soon get lost in the thread. Also I think its best that the thread remain for its original purpose,ie live calls. If one does it then others will follow and defeat the object of the thread.Thanks

 

[Lord Flasheart]

now im really peeved,look at gbp/jpy charty. took my stop and fell right away

 

[robster970]

Personally id look forward to seing your methods by way of a journal. What you want to say would soon get lost in the thread. Also I think its best that the thread remain for its original purpose,ie live calls. If one does it then others will follow and defeat the object of the thread.Thanks

No probs Flash, I can see that bending rules for one person would trash the boundary that was set and tbh, I like dipping in and out of this thread because it is active rather than reflective.

As for whether I can maintain a journal, well that sounds like hard work to me and I am fundamentally lazy. :whistling

I'll post one trade up now in under the journal section, see how it goes.

 

[Lord Flasheart]

Thanks Rob,by all means post us a couple of charts and explo etc.

 

[splashy]

Could i ask a general question?
How do you guys ascertain when you move you stop to b/e? Is based on a specific target i.e 10 pips, or is it based on the price pattern, bars? I've tried both, and a combination of both and am still undecided which works best. Just wondered what the consensus was.

 

[robster970]

Thanks Rob,by all means post us a couple of charts and explo etc.

Todays trade for those interested.

http://www.trade2win.com/boards/tra...ters-es-intraday-hotch-potch.html#post1815552

 

[Lord Flasheart]

The main reason that I think made me profitable was the fact that I now consider how I manage the trade rather than the entry point as the most important factor. Many times I get something off a trade which often pays for the losers,and when I get a runner thats the bonus. As a direct answer to your question,i look for the market to break my way and then if it falters,I may get out and either move the stop to break even or move the stop to the equivalent minus value giving me a free trade. A lot of it is experience as well. The rigidness of my staking plan allows me to poor trades and still come out ahead.For years I was looking for the perfect set up rather than worrying about staking and managing the trade.
Back Later

 

[wackypete2]

Could i ask a general question?
How do you guys ascertain when you move you stop to b/e? Is based on a specific target i.e 10 pips, or is it based on the price pattern, bars? I've tried both, and a combination of both and am still undecided which works best. Just wondered what the consensus was.

You could get a hundred different answers and none of them would necessarily be right or wrong. It depends on what your risk appetite is. Stop loss of any type is an art form of its own. My preference is that when I exit 1/2 of my position, usually around 8-12 pips, I move stop to be. I don't like ending up with a net loss after having been that much in profit. When I'm not exiting 1/2 positions then I keep a tight stop after being about 10 pips in profit. Stop is subjective based on current volatility, S/R areas, and candle formations.

Peter

 

[VielGeld]

^ I def. agree on the art part. You have to balance being loose/tight with market conditions, risk %, emotions, and maximizing your edge's profits.

Myself I put a hard stop at -2%, but my exit is market-based to keep losses smaller than that. If my stop is hit, I consider it a personal failure and need to review what went wrong. Otherwise, the losses would be a fixed % and winners wouldn't be able to exceed them in the long run.

 

[splashy]

Many times i move my stop to b/e thinking 'i wouldn't put it there if i was in profit, so why am i putting it there now'. The emotional urge to avoid seeing red in the p/l column is hard to overcome. It becomes a free bet but have i damaged the probability of it being successful? But you guys are right...I guess its a mixture of ingredients and everyone has a different perspective.
Who knows? My head hurts...
thanks.:clap:

 

[wackypete2]

Here's an updated chart that I posted last nite. I was stopped out on the short trade but look at where it eventually went without me... right to my 1st target on the support line to the exact pip. Right call, bad timing.

Trading is not easy but it doesn't have to be complicated.

Peter

 

[Lord Flasheart]

Many times i move my stop to b/e thinking 'i wouldn't put it there if i was in profit, so why am i putting it there now'. The emotional urge to avoid seeing red in the p/l column is hard to overcome. It becomes a free bet but have i damaged the probability of it being successful? But you guys are right...I guess its a mixture of ingredients and everyone has a different perspective.
Who knows? My head hurts...
thanks.:clap:

You are right about in some ways but if a trade has gone to my first target and then returns to the entry point to take my stop,surely it is actually a different entry point and not the trade I first took. This is what I mean by emotions when you are in a trade. All we do when we are in a trade is just look at the p/l amount and that is so wrong, we need to look at the position, so by protecting some profits and having a chance of more will give me a greater outcome in the long run and also make me feel more relaxed about the trade I am in. I'm probably not the best at explaining what I mean,hope it makes sense.

 

[ZEN archer]

Yes, could turn, nearly reached 61.8 retracement and double top, but I would not consider it until the uptrendline is broken and even tested, otherwise she can go till 78 retracement or even 100 to test the highest double top if she breaks the lower one(cup and handle, sort of). But this is only speculation, the momentum and the underlying condition is required to take advantages and profit from it.

Archer,
This is how I would count this move. That makes the uptrend complete and should see a very strong move to the downside over the coming weeks. time will tell!

Thanks

I didn't trade today, but if I did most likely I would have sold eur/usd when it was near that high from 8/3. Purely because of great r/r and before trend line break. Trend line break was messy and I would have probably got out of the trade when 14:15 15min candle went above trend line and closed there as well.

 

[Mike Kshemaraja]

Thanks

I didn't trade today, but if I did most likely I would have sold eur/usd when it was near that high from 8/3. Purely because of great r/r and before trend line break. Trend line break was messy and I would have probably got out of the trade when 14:15 15min candle went above trend line and closed there as well.

Yes, just watch out when it breaks strongly, most of the time will pull back as a reaction with similar strength, in those cases best to wait for a pullback and a test of the broken line first. When they pull back in that manner a safer place to set your SL is just above the latest swing before the break, because that point is normally tested.

Best break in my view is when a pre pressure (uncertainty) occurs before the break or signal line (dojis and so on), keep in mind that the underling condition (the road of least resistance) must be present as it was in this case. (In my perception, double tops, 61.8 fibo, lower tops and round numbers).

Also trendlines are very much of a subjective matter, no like horizontal S/R lines.
On my chart on the 15m chart, it tested nicely the broken TL.

 

[VielGeld]

What the heck happened @7:50pm? Any sort of JP news I'm not aware of?

 

[VielGeld]

Anyway, that gap was filled, alright. Great trade to go long in hindsight, but couldn't take it.

Ah well, now I know better. I'll catch the next one.

 

[ZEN archer]

Also trendlines are very much of a subjective matter, no like horizontal S/R lines.
On my chart on the 15m chart, it tested nicely the broken TL.

You are right - I haven't drawn my trend line properly

Your trend line is good.