Charts Only

[forexkunta]

Vaco,
I hate to see u drop the journal. I just hope I didn't have anything to do with that, and if so, I apologize.
If you are still interested in the divergence I have been posting about, here is a very good example on G/J. I had a long that went very well and I took profit based on the divergence at 136.88, and then went short with a s/l of 31 pips. Since it was Friday, before market close I increased that by 100 to accommodate the expected gap on market open. I will be dropping the s/l back as soon as the gap is confirmed to my advantage, or disadvantage, and then when the gap closes.
Regards,
Kent

thanks for the support guys,

BSD,

U should see the equity curve now that i have a few lapses under my belt

As the setups are the same day in and day out no ones really missing anything by me not posting trades and the important thing is that i do what is right for me and my p&l

As Trendie suggested I may still pop in and say 'hay its still working, i'm still at it.'

Anyway what do you think about this chart, looks range bound to me but i'm hoping for a break out:cheesy:

http://www.myfxbook.com/members/Vaco/sniper-stops/17445

 

[be-positive]

Hi kent,
Thanks for your above chart , but are your / \ lines not starting from the wrong positions on your charts to signal divergence ???

just keeping you on your toes :cheesy:

 

[Vaco]

Hi Kent,

No it was not your fault, it was more my inability to keep my finger off the trigger when there is no set up. ( I really didn't need much of an excuse). The journal was not doing wht was intended which was to prevent the trigger happy trading spirals I get into.

Hopefully having a pen in my hand and writing my thoughts will prevent or at least reduce trigger happy trading.

Divergence seems to work well on the longer tf. I'm happy with my exits and only really looking for a more methodical entry method rather then just waiting for the bar to close but divergence would have kept me out of many of my big winners so not for me.

but thts in still in the research lab and no one near live testing.

first week in march was mixed

mon was a small gain followed by another complete loss of discipline on tues which ended badly

wed was a 3 digit winner

thurs (rate day) i should have just taken off as all set ups failed.

fri another 3 digit winner.

As far as continuing with this journal, I don't think i will, its not serving the purpose intended and eod or weekly updates serve no purpose for me.

I dont believe the journal has any educational value for other aspiring traders (theres much better journals for that already) so thats no reason to carry on either.

Good luck to one and all!

 

[forexkunta]

BE,
Not at all. My purpose is to spot the divergence that sets up between waves 3 and 5, for a confirmation of the wave count, as well as a signal to reverse the trade. Even though wave 5 didn't exceed the high of wave 3, it actually truncated and came to 1 pips of the high, the strength of wave 5 is much lower than wave 3. On such a strong move, that is not unusual.
Regards,
Kent

P.S I certainly need some one to keep me on them.

Hi kent,
Thanks for your above chart , but are your / \ lines not starting from the wrong positions on your charts to signal divergence ???

just keeping you on your toes :cheesy:

 

[forexkunta]

BE,
How does this one look?
Looks like I miscounted the waves. Now we should have a top with divergence between wave 3 and 5.
Kent

Hi kent,
Thanks for your above chart , but are your / \ lines not starting from the wrong positions on your charts to signal divergence ???

just keeping you on your toes :cheesy:

 

[be-positive]

Hi kent ,
Have to sleep some time (lol) now this is just my take on that divergence that you have pointed out ,I would not have taken that as your macd line had breached the zero line between your two points of reference on chart .
Have more important things to do this week but do hope everyone has a good weeks trading

 

[forexkunta]

BE,
That entry ended up being a really nice short. I find that at some point between highs and lows and looking for divergence, it is not all that unusual for the 0 line to be breached.
I was also expecting for this move to go short as a 5th wave on the daily chart. I was just looking for a tight entry.
Regards,
Kent

Hi kent ,
Have to sleep some time (lol) now this is just my take on that divergence that you have pointed out ,I would not have taken that as your macd line had breached the zero line between your two points of reference on chart .
Have more important things to do this week but do hope everyone has a good weeks trading

 

[Vaco]

Towards the end of last month I mentioned that I would be splitting my trades in two, closing half when i would normally bring my stop to BE and letting the other half run.

After 2 weeks of trading this way i can safely say that it was a mistake, only a handfull of trades benefited from doing so whilst the majority of my chunky winners (20 pips+) suffered from been at half strength.

Going forward i will revert to just bringing the stop up and run with the full position unless I see signs of congestion after a could run at which point I will close half and run the rest to PT or trailing stop.

For my trailing stop i'll be using demark points on the 5min chart which i have been studying of late.

I will try to post some trade examples although it will only be of the ones that have gone my way to the point where i am closing half and then again after i close on sl/target to show what would have been if i had stayed in.

Currently down 2% for the month due to the failed experiment but not to worry its only 40 pips and I'm sure i'll make at least 10% by the end of the month.

 

[Vaco]

the chart below shows the levels i am looking at for potential trades this morning.

 

[Vaco]

got a trade in when price stopped at the demark point at 5194 but the stop was too tight at 8 pips have reentered for trade 2 after the spike above 5198 level.

 

[Vaco]

closed for +72

has since moved down further but i had some very solid TA that got me out:

I had to go out for the school run and didn't want to leave it on:whistling

thats 64 for the day and i'm done.

happy trading everyone.

 

[Vaco]

leels to watch

 

[forexkunta]

Vaco, where did you go?

 

[Vaco]

Hi,

still around just not posting so much anymore.

Hope you are well.