Goldmine!

This is a discussion on Goldmine! within the Trading Journals forums, part of the Reception category; u will never get any winning trade Take a look at the contents fo all posts of this forum : ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Jun 2, 2010, 7:42am   #9
 
pssonice's Avatar
Joined Mar 2004
"I want to get in a trade, and let it run," u r a dreamer ...

u will never get any winning trade

Take a look at the contents fo all posts of this forum :

No1 is able to call on any entry just in time.

I m the one and only who is able to call on entries "just-in-time"

u may ask, how is it possible ?

Dont sit and wait !
pssonice is offline   Reply With Quote
Old Jun 2, 2010, 8:07am   #10
 
FX4Newbies's Avatar
Joined Apr 2010
Re: Goldmine!

FX4Newbies started this thread I am glad you have a system that works well for you. I am certainly not trying to call an entry just in time. Glad you are the one and only who can call on entries "just-in-time"

I'll scalp when I choose and position trade when I choose. That is the beauty of this business...diversity.
FX4Newbies is offline   Reply With Quote
Old Jun 2, 2010, 12:26pm   #11
Joined Apr 2008
Re: Don't quite understand what you mean!

Quote:
Originally Posted by pssonice View Post
my profit right now : 365 $
!
roohif is offline   Reply With Quote
Thanks! The following members like this post: Doomberg
Old Jun 2, 2010, 2:08pm   #12
 
FX4Newbies's Avatar
Joined Apr 2010
Re: EurUsd made a move to green fork

FX4Newbies started this thread Well, what do you know. Price went up for a bit then turned to the green MLH. Finding some support there. Local fork (smaller internal fork) showing trade opportunity to ML. Once price begins to show some confirmation of the support at green MLH, it is time to look for the entry. We'll see if the green MLH support level holds.

Quote:
Originally Posted by FX4Newbies View Post
Eur-Usd in the middle of the red and green forks. Good place to wait though there is definitely downward pressure. Not yet making higher highs...still in the fight. T/F 1Hour.
Attached Thumbnails
june2-2010.jpg  

Last edited by FX4Newbies; Jun 2, 2010 at 2:19pm.
FX4Newbies is offline   Reply With Quote
Old Jun 2, 2010, 6:01pm   #13
 
FX4Newbies's Avatar
Joined Apr 2010
Re: EurUsd support and profit target achieved

FX4Newbies started this thread Attached is a chart showing the move of the Eur-Usd this morning on the 1-hr T/F.

Quote:
Originally Posted by FX4Newbies View Post
Well, what do you know. Price went up for a bit then turned to the green MLH. Finding some support there. Local fork (smaller internal fork) showing trade opportunity to ML. Once price begins to show some confirmation of the support at green MLH, it is time to look for the entry. We'll see if the green MLH support level holds.
Attached Thumbnails
june2-2010-2.jpg  
FX4Newbies is offline   Reply With Quote
Old Jun 2, 2010, 6:35pm   #14
 
pssonice's Avatar
Joined Mar 2004
"... it is time to look for the entry" two conditions !

when is the time ?
where is this entry ? lser
u will never execute any trade!
pssonice is offline   Reply With Quote
Old Jun 2, 2010, 10:13pm   #15
 
FX4Newbies's Avatar
Joined Apr 2010
Re: "... it is time to look for the entry" two conditions !

FX4Newbies started this thread Glad you asked about entries...please see attached chart. Your stop would be placed below the low of the previous red candle...around 1.2165 i.e. below support. The price and time are built in to the way price interacts with the pitchfork tool. I will be posting a simple explanation for members who may not be pitchfork traders.

Enjoy and take care.

Quote:
Originally Posted by pssonice View Post
when is the time ?
where is this entry ? lser
u will never execute any trade!
Attached Thumbnails
june2-2010-2a.jpg  

Last edited by FX4Newbies; Jun 2, 2010 at 10:23pm.
FX4Newbies is offline   Reply With Quote
Old Jun 3, 2010, 1:22am   #16
 
FX4Newbies's Avatar
Joined Apr 2010
Re: Use of Stops

FX4Newbies started this thread Trader was stopped out of one trade and not the other...one had a cash stop, the other no stop...have had problems. Here was my reply:

What you have experienced is typical in the market. However, you have to strategically place your stops. Using Cash Stops...just selecting a number of pips from your entry, may not be the best way. You need to hide your stops behind the buyers and sellers in the market. How do you locate them? One way for sure is to observe where support (where there are pending buying orders) and resistance (where there are pending selling orders) areas are. Your stops should be placed on the other side of these areas. The idea is to use these orders as a buffer that would shield you from any market action to take you out. For example, if you were selling with resistance overhead, your stop should go above the resistance level.

Sometimes, if I use a larger stop that is hidden behind a support or resistance area, I place an alarmed line maybe 15 to 20 pips or so from my entry to alert me if the market is moving in the opposite direction. That way I can re-evaluate my setup and entry.

And yes, they do hunt the stops...that is money for them.

Hope that helps.

FX4Newbies
FX4Newbies is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)