But thats why NT works long term, it keeps us out of the market many times whilst the big hitters clear out all of the early morning shorts, before the real move of the day, which might still be up, but could easily fall hard.
But thats why NT works long term, it keeps us out of the market many times whilst the big hitters clear out all of the early morning shorts, before the real move of the day, which might still be up, but could easily fall hard.
peterf1966
Experienced member
- Messages
- 1,252
- Likes
- 2
that just killed INT I think, for those in.
mark120169
Senior member
- Messages
- 3,116
- Likes
- 20
You mean long term? My indicator said ok for the INT trade today, even MINT would have been stopped out.
Recent history it's still got much better results than NT. I still plan to trade it for the near future.
M
High of 1.5241...I shorted at 1.5237 for a quick 20 pips on the ride down. Feels good when some analysis goes your way.
peterf1966
Experienced member
- Messages
- 1,252
- Likes
- 2
no just today, happened to be watching when the level jumped up suddenly.
Morning Dubai. What are you using to determine these figures?
insidergates
Well-known member
- Messages
- 292
- Likes
- 2
woooooow, just got a cup of tea on and triggered !! oh dear me thinks
But long term NT is much better than INT. If you want to get really depressed about INT, then backtest the first 6 months of 2008.
I suppose whether you pay attention to long term results or very short term, depends on whether you intend to trade it long term or for a short period.
peterf1966
Experienced member
- Messages
- 1,252
- Likes
- 2
yes....hang on till past 8.30? close at 8.30? :|
insidergates
Well-known member
- Messages
- 292
- Likes
- 2
wow i am in a bit of a muddle, pure nt for me so out at 8.30 i think
insidergates
Well-known member
- Messages
- 292
- Likes
- 2
out for +1 pip, gets me lunch anyway!!!
+0.7
G'day Sirs and Ladies,
just lurked in to see how you all got on. Not a net trap nor LFO owner myself but think I have a pretty good idea how they work. Saw the sell set up today (and on LFO) but checked the front of the IG index page (bottom right) and saw how strong Australia and Asia were. Also FTSE to open up 50. Put me off a sell. Also MA had turned up fairly decisively Nearly bought instead but was too chicken. Too chicken to sell as well. Glad you guys fared okish.
See my attached chart how my UDF indicater spells it all out. Up to green line means buy, down to red means sell. There are 4 sells showing for NT and no buys. (of course I could be wrong) (London Open works on diff time frame so ignore). The Asian session looks strong on my UDF indicator but the bottom indictor shows a different story.
So, lesson learnt for me, if overnight trends are bullish, be wary of sells and don't buy if my UDF indicators show a sell. On the other hand if they were bearish...its all go.....
Now must get back to my Lloyds short (must be mad) but its in profit just:clover:. Lurking here is the equivalent of hiding behind the settee when Quatermass used to be on telly, too scared to watch. (showing my age).
G'day all,
Taypot
Attachments
peterf1966
Experienced member
- Messages
- 1,252
- Likes
- 2
I changed my NT into an MNT after 8.30, for +10.
Strange morning...I normally trade NT and MNT (15 pip target) After the impulsive move up I thought there was no way the trade would trigger. I left home at 8 and was worried by a sharp snap back as the volatility was high, so I closed the NT trade and left the MNT. Normally, I close out trades at 8:30 when i'm on the train, but bumped into a very attractive neighbour and completely forgot about my trade (I know, I'm a man, i'm weak!). So how pleased was I when I found it banked!!!
rob the bank
Well-known member
- Messages
- 310
- Likes
- 1
Hi Hogs,
Forex NT 40MA was pointing downward @ 6:15 candle but 50MA was relatively flat.
Forex NT SELL entry @ 6:30 15182 but Pivot points at 15163 & 15159 so even if the market had gone that way possibly only 20pips might have been achieved(also daily low @ 15174).Triple top visible on the four hourly charts with entry point @ 15205 - long
both 5 & 10 EMA running upwards and parallel. Daily high was 15228, but resistance @ 15237 Target set @ 15230 (even number) just slightly above daily high but below resistance @ 15237 (25pips, not trying to be too greedy). Stop set at low of 6:55 (5min green candle 15190 (R/R: 25/15 which is the same as Forex NT).
Trade opened @ 07:25 and closed @ 07:26 because the market shot up for some reason,
Gain of 25 pips. I do not always use chart patterns as I'm not great at identifying them, but sometimes they are useful when you get it right. Saying that there was head and shoulders pattern that occurred across most indices in April/May followed by the 50 crossing the 200 SMA quite recently. This is an ominous sign for the markets to say the least - especially equities. I prefer to use a couple of moving averages 20, 10, 5 and a SAR with daily pivot points which you can calculate or get from pivot farm every day, and sometimes RSI and stochastics depending on what mood I'm in. You should really try and develop your own system as education, testing and actual trading with small lots is the key. NT did eventually trigger today and the 8:40 candle went down to 16163 which was the pivot point I mentioned earlier (everybody would have been out of the trade by this time). The Frankfurt traders pile in at 7:00 and the London mob @ 08:00, this can sometimes change the direction of the market quite quickly.
Hope all this nonsense helps a little.
mark120169
Senior member
- Messages
- 3,116
- Likes
- 20
+1.9 slighly late close @ 8.31.
TNT - 28.1
INT -30
NT +1.9
Glad I made those 38 pips overnight now! lucky punt.
M
