pocrel
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Afternoon mate from a sunny Roma,
Just relaxing by the pool 33c so nice and hot, got another week of hols in south of France to come then heading to Singapore with work for 9 days so hope to catch up with you after that Lewis, great to see the blog flying and the job going well seems everyone is making pips at the moment sideway markets everyone on hols 🙂
Right need to do my back 🙂
Just relaxing by the pool 33c so nice and hot, got another week of hols in south of France to come then heading to Singapore with work for 9 days so hope to catch up with you after that Lewis, great to see the blog flying and the job going well seems everyone is making pips at the moment sideway markets everyone on hols 🙂
Right need to do my back 🙂
All day today done 2 trades (one long in the morning one short after 15:00) – scalping. At the moment choppy, so I'll leave it till tomorrow (I'd better keep that miserly 49 pips)
Ya that is what I got but my intention is for a small scalp because the market is not giving anything else at the moment.
I find it can be a painfully slow pair at times so dont really trade it mate. I find its easier to stay out of trades like that over dealing with the emotion of sitting there watching them go nowhere. 😴
How right you were about UJ – what a boring pair.
I've done short on EJ instead and now looking for a long opportunity on EJ if there is a change in short term trend.
Forget about UJ👎
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I always find that checking ATR is a good indiaction for how fast moving a pair is. higher the ATR the more volatile ,the more pips.
Nice and quick.👍
It may go further up than 280, but I met my daily target – so no more trading for me today.
PS I entered on the first close higher than 'pin bar' close. I liked it also as it was above 50% fib.
Exit was a first opportunity (excuse) to take what the marked offered – it coincided with previous congestion levels and fib level.
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nice trade! was your stop below the pin?
Thanks £80,
it was not the best trade IMO.
I should have entered at least once the price went above the high of the 'pin bar'. Also EURO has been falling like a stone lately. Anyway I was observing price action on hourly only and put a 'disaster' stop below the low of the 'pin bar'. I call it a 'disaster' because probably I would have exited once the price went below the fib level (50%)
Wow – what a boring trade. I guess that's the only way to get 120 pips – one needs lots of patience.
I think I should have waited to hit 11200, but can't follow it any more.
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neilthomsonuk
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I feel like I've reached the end of a great book.
Pozzyp - you might feel my q. has been asked and answered in the preceding 80 pages however I'm still a little unclear on your approach to RR. could you expand on your approach (beyond the 2/3 rule) and also (if its not the same question) when/how do you choose to exit your final 1/3 ?
Pozzyp - you might feel my q. has been asked and answered in the preceding 80 pages however I'm still a little unclear on your approach to RR. could you expand on your approach (beyond the 2/3 rule) and also (if its not the same question) when/how do you choose to exit your final 1/3 ?
Hi Neil
Thanks for the post mate sorry about the late reply,
I dont always scale out the 2/3rds as a rule it depends on the setup. When I was trading prop i had a pretty tight risk limit so wanted to get the risk off the table as soon as possible so that my margin wasn't tied up and I could look for more positions.
It really depends on the last 3rd, you can aggressively manage the stop if you are more of an intraday trader buy trailing behind previous swing highs/lows. Or if you can hold your nerve a little bit more wait until there is a reversal signal and manage it to the high/low of that signal. Looks for the next level of s/r as a profit target or manage your stop at the next level of S/R so that if price bounces you've locked in profit.
I can hold overnights and longer term positions where Im currently working so I often place two trades at once and use the intraday profits on the position as risk for the longer term trade, which means it only takes one winner to make the week. But it really depends on the setup. For example a range bound market has less room to push than a trending market where (where I do comp into positions)
Sorry if thats not the most definitive answer.
Thanks
Pozzy
fiatmoney
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Hi All,
Look's like Pozzy is busy the last few days so to keep the journal going I taught I'd post a little setup on the EU, hope you don't mind Pozzy🙂
Looks like EU is range bound the last couple of days so I'm looking for a breakout pullback "Pozzy style" trade.
So lets sit tight and see what happens.
Look's like Pozzy is busy the last few days so to keep the journal going I taught I'd post a little setup on the EU, hope you don't mind Pozzy🙂
Looks like EU is range bound the last couple of days so I'm looking for a breakout pullback "Pozzy style" trade.
So lets sit tight and see what happens.
fiatmoney
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Ok trade on short 113.73, s/l 113.88 scale out at 113.65 lets see what happens.
Ok so not much action on EU yet.
I have a pending order to sell EJ 113.73 from a reversal off the 50% fib taking from yesterday's high to today's low.
If it doesn't trigger I'll see if it will move up to the 61.8% and I'll try again.
fiatmoney
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Stopped out. Might see if it will set up at the 61.8%
