Best Thread Potential setups

[trader_dante]

Now, if I want to catch that 530 pip move from the right shoulder down, what is the best way to trail my stop?

There is no "best way". There is only the way that works for you.

If your only desire is to catch a 530 pip move down, I suggest you have no stop at all.

OK, no great rhyme or reason to it except that to me it seems better to be out for 2 pounds than zero pounds after sweating over this trade for hours and hours.

It is almost impossible to make money with this attitude in the long run.

But good luck.

 

[megamuel]

Head and shoulders on EUR/USD Anyone going to play?

 

[fifty2aces]

On the FTSE100 futures on the NYSE euronext... What is the maximum amount of contracts one could trade per tick without getting slipperage or well less than a points worth?

This is pretty much impossible to answer consistently - it varies from second to second. I've attached a screenshot of the FTSE ladder - I don't normally watch it, so no idea how typical it is, but the important thing is knowing how this all works.

Basically, the numbers in the right hand column are limit sell orders from other traders, which are the contracts you'd be buying if you put in a market buy order. Currently 9 contracts are available to buy at 4357.5, 16 at 4358.5 etc. The other side of the ladder is the reverse - if you want to sell, someone will buy 8 of your contracts at 4356.5, 10 at 4356.0 etc.

So if you try to buy 20 contracts at market, you'll get 9 at 4357.5, 9 at 4358.0, and 2 at 4358.5 - make sense?

The problem in giving a definitive answer is that all these numbers are changing constantly, so if you aren't watching, you've got no real way of knowing how much is available. Even if you are watching, it's possible that someone else could get a big order in just before you, taking out a couple price levels, and slipping you much further than you could've expected.

edit: should also note that this screenshot only shows 5 levels on each side - in reality there are orders at higher/lower levels, which will become visible as price moves towards them.

edit2: dante makes another good point below

 

[trader_dante]

This is pretty much impossible to answer consistently - it varies from second to second. I've attached a screenshot of the FTSE ladder - I don't normally watch it, so no idea how typical it is, but the important thing is knowing how this all works.

Basically, the numbers in the right hand column are limit sell orders from other traders, which are the contracts you'd be buying if you put in a market buy order. Currently 9 contracts are available to buy at 4357.5, 16 at 4358.5 etc. The other side of the ladder is the reverse - if you want to sell, someone will buy 8 of your contracts at 4356.5, 10 at 4356.0 etc.

So if you try to buy 20 contracts at market, you'll get 9 at 4357.5, 9 at 4358.0, and 2 at 4358.5 - make sense?

The problem in giving a definitive answer is that all these numbers are changing constantly, so if you aren't watching, you've got no real way of knowing how much is available. Even if you are watching, it's possible that someone else could get a big order in just before you, taking out a couple price levels, and slipping you much further than you could've expected.

edit: should also note that this screenshot only shows 5 levels on each side - in reality there are orders at higher/lower levels, which will become visible as price moves towards them.

You also have no idea how much of that size is authentic unless you try to hit it.

If you hit the 9's at 57 1/2 and the rest of the offers were spoofs for the next 10 prices, you could theoretically get slipped 10 ticks on your remaining 11. Giving you a net slippage of around 5 ticks.

What is amusing to me is that people often think that things will be fairer, more transparent, easier, in the direct market. I think if those people make the plunge they will be in for a real shock.

 

[trader_dante]

Head and shoulders on EUR/USD Anyone going to play?

You obviously don't read many posts on here then

 

[megamuel]

Just called in here after about 3 weeks of not trading. I take it there have been lots of posts about this then? I'll back track!

 

[CTGCollins]

Eur usd h&s

Head and shoulders on EUR/USD Anyone going to play?

Hi Megamuel, I'm in short from near the top of right shoulder of the mini H&S on the right shoulder of the big H&S. Entered at 1.3996 with 2 lots. Current stop still at breakeven because I don't want to spoil the probable bigger move down through approx 500 pips which the big H&S indicates.

Regards, Chris

 

[Technically Fundamental]

Dow is 9000!

Who's your daddy.

If yo really think we're hitting 9000 now is the time to go long.

Edit: robbing bast*rd IG chart isnt moving again. They really are dispicable.

 

[teojh]

4hr gbpusd pin bar. at key area. place ur limit orders in now.
aim for abt 200 pips den see if it holds

 

[vinicius]

Who's your daddy.

If yo really think we're hitting 9000 now is the time to go long.

Edit: robbing bast*rd IG chart isnt moving again. They really are dispicable.

LOL.. Let`s see..9.000 is where I`ll short.. The is no way to go long..

About IG Charts try to do this:

Control Panel
Java
Temporary Internet Files
Settings
Delete Files..

I had the same problem. My charts use to freeze time to time..

 

[vinicius]

4hr gbpusd pin bar. at key area. place ur limit orders in now.
aim for abt 200 pips den see if it holds

Pin Bar ? Where?

 

[HaloTrader]

This is pretty much impossible to answer consistently - it varies from second to second. I've attached a screenshot of the FTSE ladder - I don't normally watch it, so no idea how typical it is, but the important thing is knowing how this all works.

Basically, the numbers in the right hand column are limit sell orders from other traders, which are the contracts you'd be buying if you put in a market buy order. Currently 9 contracts are available to buy at 4357.5, 16 at 4358.5 etc. The other side of the ladder is the reverse - if you want to sell, someone will buy 8 of your contracts at 4356.5, 10 at 4356.0 etc.

So if you try to buy 20 contracts at market, you'll get 9 at 4357.5, 9 at 4358.0, and 2 at 4358.5 - make sense?

The problem in giving a definitive answer is that all these numbers are changing constantly, so if you aren't watching, you've got no real way of knowing how much is available. Even if you are watching, it's possible that someone else could get a big order in just before you, taking out a couple price levels, and slipping you much further than you could've expected.

edit: should also note that this screenshot only shows 5 levels on each side - in reality there are orders at higher/lower levels, which will become visible as price moves towards them.

edit2: dante makes another good point below

Thanks fifty2aces and trader_dante.
Really helpful. Is 5 levels the maximum on either side you can get ?

 

[teojh]

1300 to 1700 bar. maybe ur charting is of a different timezone

 

[Xeno]

OK, no great rhyme or reason to it except that to me it seems better to be out for 2 pounds than zero pounds after sweating over this trade for hours and hours.

Now, if I want to catch that 530 pip move from the right shoulder down, what is the best way to trail my stop?

Regards, Chris

Hmm.. you casually follow the bit about breakeven or plus one by suggesting a 530 pip move target. I thought you were having a laugh for a minute ;-)

Anyway, to answer, say the pair has about a 200 daily move, if you want your 530, I would put it over a day away, e.g. 235 points, but by all means trail it at that distance.

Alternatively, put it at breakeven if you're prepared to do the trade 20-30 times to catch the 530. And don't trail it.

 

[teojh]

1hr pin bar long for eurusd taken. hope its not too late

 

[trader_dante]

1hr pin bar long for eurusd taken. hope its not too late

That's a clear sucker pin.

 

[Technically Fundamental]

LOL.. Let`s see..9.000 is where I`ll short.. The is no way to go long..

About IG Charts try to do this:

Control Panel
Java
Temporary Internet Files
Settings
Delete Files..

I had the same problem. My charts use to freeze time to time..

So you'll miss the 300 ticks on the upmove? I just dont think you have enough conviction sire. Either that or you dont like eating crumbs. I have no problem crumbing.

 

[vinicius]

So you'll miss the 300 ticks on the upmove? I just dont think you have enough conviction sire. Either that or you dont like eating crumbs. I have no problem crumbing.

My strategy is basically:

If I dont spot i dont trade it. If i want to go long in this market my stop loss woul be too large. We are trading in a range from 8600 - 8800 with minor support and resistance all the way.

I`ll trade it near the major levels.. With a small stop loss and high leverage..

 

[vinicius]

So you'll miss the 300 ticks on the upmove?

Anyway, is not about missing 300 ticks. Is about high probabilities set-ups..

I like to use leverage and trades like this is to risk for me and my wealth.

 

[ian_c]

That's a clear sucker pin.

Why?