Daily Forex Net Trap Trades and discussion

This is a discussion on Daily Forex Net Trap Trades and discussion within the Forex Net Trap forums, part of the Specialists' Corner category; Originally Posted by peterf1966 So what was the story behind this mornings long punt then? I had a nice sleep ...

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Old Jul 21, 2010, 11:27am   #17
 
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Re: Daily Forex Net Trap Trades and discussion

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Originally Posted by peterf1966 View Post
So what was the story behind this mornings long punt then?

I had a nice sleep through it all this morning, I look on the other place, and open IG and theres a massive red spiking candle, and nearly instant pull back! Have a day off and miss all the fun.
Had broken resistance @ 308, was heading up to 350, looking good for 344 target, slight pull back, rising again them bam......130 pip super spike took us all out (longs).

Just been reading up moneyweek on a long term short on the Yen / USD. 11600 is a long term historical high never sugnificantly breached before a retrace. Reached it a few days ago @ 11616 and hyas now dropped back to 11500 levels.

They reckon a far quarter short bet (to December) with slightly above 11600 as the stop loss. Considering it.

M
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Old Jul 21, 2010, 1:53pm   #18
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Re: Daily Forex Net Trap Trades and discussion

Hi All

I was an occasional poster on the previous thread and recently not much at all, so all in all a 'semi-lurker'. Two reasons why, firstly don't really have the time because of other business pressures and secondly, have not had much to add to the debate really, hence the lurking. I must admit, I've got a bit confused lately with all the references to various indicators, but I think it's a good thing to try and improve NT if at all possible. Some of you doing a commendable job experimenting and sharing. Time will tell with all the jiggling around with targets, stop losses, etc. The debate has got a bit complex of late and I glaze over a bit if it gets too technical, I prefer to keep it simple, which was the initial appeal of NT. Anyway, keep up the good work - I shall be lurking in earnest but I will try to contribute more often and above all usefully.

Cheers

Gavin
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Old Jul 21, 2010, 2:41pm   #19
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Re: Daily Forex Net Trap Trades and discussion

I am in YAY

(Although spend 40 minutes trying finding this thread, messing around with various buttons on users groups!)
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Old Jul 21, 2010, 2:45pm   #20
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Re: Daily Forex Net Trap Trades and discussion

Can I make a suggestion (if not already discussed?):

Can we have one thread for each different indicator discussed and one thread just for discussing the days trade?

Can be quite difficult to navigate round a thread that goes in 100's of pages
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Old Jul 21, 2010, 3:28pm   #21
 
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Re: Daily Forex Net Trap Trades and discussion

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Originally Posted by thelurker1 View Post
Can I make a suggestion (if not already discussed?):

Can we have one thread for each different indicator discussed and one thread just for discussing the days trade?

Can be quite difficult to navigate round a thread that goes in 100's of pages
Great Idea, we have a whole forum here, not just a thread in a forum. And can I add my thanks to Graeme for getting this set up, and being admin man.

Perhaps we can have one thread for each days trade, eg tomorrows thread title would be NT 22-07-10, Fridays would be NT 23-07-10 etc...
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Old Jul 21, 2010, 3:30pm   #22
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Re: Daily Forex Net Trap Trades and discussion

Yeah, it would be good just to have a separate thread that is just for the signal, rather like over at SFT.

That way it's easy for everyone to see if they're on the right track quickly in the mornings rather than be confronted with a monstrous amount of pages since they were last on.
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Old Jul 21, 2010, 4:07pm   #23
 
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Re: Daily Forex Net Trap Trades and discussion

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Originally Posted by Rugby Trader View Post
Yeah, it would be good just to have a separate thread that is just for the signal, rather like over at SFT.

That way it's easy for everyone to see if they're on the right track quickly in the mornings rather than be confronted with a monstrous amount of pages since they were last on.
Already set up a thread for tomorrow now.

btw, my indicator of trade or not to trade is based on NT rules, which I can have idenified by colour coding the 40MA (wow I can say it!) in my IG advanced chart.

It turns red if it is down from the last candle, and black if it goes up from the last candle, so no need to be counting all those UUU,DDD, and FFF's. I also deduct the 6.15candle from the 4.00 candle, using all the decimals. If this is more than 1 or -1, and there are not more than 2 consecutive red or black MA lines running contra to the main trend, then that is good to go according to NT rules.

This morning was 5 Red / then 5 black, with no net change in the 40MA, 15276, to 15274, back to 15276. The advanced chart uses mid price btw, see below. Dramatic candle at 7.45 eh?


Thge coloured horizontal lines are my CAM levels, and currently price just touched S4 and bounced off again...

21-07-10-pf-advanced-chart.jpg
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Old Jul 21, 2010, 4:21pm   #24
 
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Re: Daily Forex Net Trap Trades and discussion

mark120169 started this thread
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Originally Posted by peterf1966 View Post
Great Idea, we have a whole forum here, not just a thread in a forum. And can I add my thanks to Graeme for getting this set up, and being admin man.

Perhaps we can have one thread for each days trade, eg tomorrows thread title would be NT 22-07-10, Fridays would be NT 23-07-10 etc...
Pete, I'm all up for lots of other threads but should the morning NT trade be all on one thread that is added to daily like the SFT forum NT thread.

Then we can have different threads for day trades, indicators, results, off topic etc.

I think what RT meant was one thread like this one for the daily morning trade to confirm long / short / MA clear by XXX etc and how that trade goes.

You have to remember that with a different thread for each day then ;

A) We will end up with the oppsoite problem to before, rather than one thread that migrated to everything NT related and day trades /off topic we will end up with +230 daily trade threads a year, and no one thread will remain at the top of the forum becasue once that day is over it wont get added to and will drop down the rankings.

B) You get auto email notifications of theads you are active in. I now get several emails a day from this and the old thread every time someone adds a new post if it's a new thread for each day it will end up like FNT spam.

C) Someone has to be responsible for creating the daily thread, and sure as eggs sometime soon two or three peeps will log on at the same time, see no daily thread and all create on within seconds of each other. This will then confuse every one where to go and admin (SAT & me) will have to constantly muck around merging threads when this happens.

Just my thoughts but this is open to discussion.

M
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