Best Thread Potential setups

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patw said:
i know all about it tom...i did take it and watched in horror as it spiked up was totally pissed off :sneaky:

Could you draw in your stop levels on the chart from the prev pivots for reference tom?

thanks pat
Click to expand...

Hey Pat,

Sorry, I don't understand...what do you mean?
 
teojh said:
oh why would u wan to get out. im short too and somewhat curious.
looks like forming H&S too.
Click to expand...

Got out eventually.

+74 pips.

I agree - there is a great H&S forming on the daily chart but I thought we would have trouble getting through that support...we haven't been able to break it for the last five hours now.

Better for me to be on the sidelines at the moment and look for another entry.
 
tradedays said:
I'm interested mate, nice trade.

Intrigued to know what inspired the exit on the second big spike. I ask because I am often uncertain of where to put the stop if you get a big candle like that on longer term trade - or did you just lock it all in after the spike and accept that you would get stopped if it went against you?
Cheers
Chris
Click to expand...

There was a formidable resistance overhead so I decided to override my trailing stop rules and exit at market.
 
Nice pullback on GBP/JPY - this was going to be my first trade on VDM but they took an eternity opening the account. I did it on a demo account though - doh!
 
Potential Setupians.......
Nothing is exciting me today.
Anywone out there see anything to make me throb?
 
TheGoose said:
Nice pullback on GBP/JPY - this was going to be my first trade on VDM but they took an eternity opening the account. I did it on a demo account though - doh!
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Mate,

All of VDM went phone only in the middle of the night with me short Dollar/Yen and the pair collapsing. I got them on the phone at 3am. By the time I had given the dealer my account number and date of birth and address and told him what I had open and told him how to pronounce my name correctly, the pair was bouncing hard. At which point, I asked him to put a bid below the market which he seemed to be unsure about doing, so he then proceeded to tell me I could get out where I wanted too despite the market being higher...then it started tanking again and this time they were at least 5 or 6 pips higher than the actual market price. Finally, when I said get me out, he quoted the original price I wanted to get out at rather than where we were now which was lower and then he seemed to be writing it down rather than exiting my postion and suffice to say, the position showed as open on my account for a futher three hours...

Another negative experience and I am withdrawing and closing.
 
sounds like their IT systems had a sh1t fit. In my book that is forgiveable so long as you don't speak to a numpty. Anyway... 3 am... you're nuts!
 
advfntrader said:
you don't wait for the break of the pinbar first ? do you find this gives better results ?
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No, I DO wait for the break of the pin bar but I think the post I was answering refers to the practice of entering AFTER the candle that comes after the pin has finished forming.

Some people do this.

I don't.

I put my order in as soon as the pin has finished forming. 1 pip above the high / below the low.
 
well to get the £500 margin with VDM I need to place 3 trades at £2pp each. I want these to be as low risk as possible to protect my own capital so thinking of getting in on the break of hourly PB's and closing after say 5-10 points.

I could also hedge 2 trades, ie. long FTSE future, short cash. then I only really have 1 trade to take
 
advfntrader said:
well to get the £500 margin with VDM I need to place 3 trades at £2pp each. I want these to be as low risk as possible to protect my own capital so thinking of getting in on the break of hourly PB's and closing after say 5-10 points.
Click to expand...

I bet you get stopped out 2 out of 3 times!
 
trader_dante said:
Mate,

All of VDM went phone only in the middle of the night with me short Dollar/Yen and the pair collapsing. I got them on the phone at 3am. By the time I had given the dealer my account number and date of birth and address and told him what I had open and told him how to pronounce my name correctly, the pair was bouncing hard. At which point, I asked him to put a bid below the market which he seemed to be unsure about doing, so he then proceeded to tell me I could get out where I wanted too despite the market being higher...then it started tanking again and this time they were at least 5 or 6 pips higher than the actual market price. Finally, when I said get me out, he quoted the original price I wanted to get out at rather than where we were now which was lower and then he seemed to be writing it down rather than exiting my postion and suffice to say, the position showed as open on my account for a futher three hours...

Another negative experience and I am withdrawing and closing.
Click to expand...
I also had an experience with VDM last Fri, when I could not exit a profitable trade, have tried it several times and the window came out that the order was sent, and nothing happenned. I have described my experience on the VDM thread in spreadbetting section. I am watching them atm and am not too sure what to make out of it all. Phonned them few times and have been assurred that the system is running well.
Only time will tell if it is a good idea (or a bad ordeal) to trade with them.
 
advfntrader said:
well to get the £500 margin with VDM I need to place 3 trades at £2pp each. I want these to be as low risk as possible to protect my own capital so thinking of getting in on the break of hourly PB's and closing after say 5-10 points.

I could also hedge 2 trades, ie. long FTSE future, short cash. then I only really have 1 trade to take
Click to expand...

just do it on something that doesn't move fast, say, S&P premarket
 
advfntrader said:
well to get the £500 margin with VDM I need to place 3 trades at £2pp each. I want these to be as low risk as possible to protect my own capital so thinking of getting in on the break of hourly PB's and closing after say 5-10 points.

I could also hedge 2 trades, ie. long FTSE future, short cash. then I only really have 1 trade to take
Click to expand...

yes this is a very good idea. take a trade with a wide stop like a pin and then close after 5-10 points. also hedging is a great idea. long and short the same market so you basically just pay away the spread...
 
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