Forex trading live calls and set ups

[wackypete2]

I'll be done tonight when the hockey game starts!

or sooner apparently...

Stopped out -10

Peter

 

[wackypete2]

I'm rarely at the computer the entire day. Just seems that way. Also I don't trade during the 3 summer months as it's the busy season for my business and I have no time.

Peter

 

[Vaco]

ahh 12 months of trading crammed into 3:cheesy:

well enjoy the game!

 

[wackypete2]

well enjoy the game!

$@%#^$^ Losing already

But thanks!
Catch everyone tomorrow.

Peter

 

[Vaco]

Morning all

no set-ups at the moment and its a Friday so lets see how it goes.

 

[Vaco]

short 93 30 pip stop

 

[2be]

morning scalp on G/U at the opening of the London session has given just over 20 pips, sorry too fast to post as I trade several accounts, but I post the reasons for the trade.
The Asian equity session has finished in negative, so indicated USD strength.
Price of G/U has not taken yesterday H.
Frankfurt has pushed the price up, and this move is often reversed at the beginning of the London open.
The wise men on Bloomberg have agreed the "whats going to happen" in the market http://www.bloomberg.com/news/2010-...s-as-strategists-say-2011-will-beat-2010.html , so I thought a ride south for 20 pips initially was on cards.
My bias for the G/U is to scalp down using TD count on M5 TF in the direction of H1 trend, taking profits at thr poss reversals indicated on M5.
edit 1- short possibility is printing atm

 

[coldrecs]

EURUSD - important res/supp levels for the next 24hours

The pair seems to be lacking direction on the short term. For me the behaviour from the last 24-48 hours looks rather like a mild correction or consolidation period. People are still worried about euro and euro-zone countries but somehow this is not pressuring the euro-dollar rate as it used to do a few weeks ago. This is why my expectations are rather towards 1,34 than towards 1,30.

Anyway, to keep things objective, for the next 24 hours we still have a big resistance near 1,3324 and an important support near 1,3240 (61,8% fibo level from the last upward move). The move from the last 48h is in a downward channel but is visibly lacking speed and that’s why I consider it to be just a correction.

Other important levels are: 1,3406 to the upside and 1,3115 to the downside.

 

[Vaco]

Random, but it just came to me and I thought I would share.

I would describe trading as similar to surfing, you have to be in sync with the waves, they are not the same everyday and not all days are good for surfing, when you do go out you may not be able to do today what you did yesterday, it just depends on the conditions.

 

[Black Swan]

this method might actually "be" him!
hope not! the guy on the site is called Colin. I always thought BS would be a Tristran or Bertrand. :cheesy:

anyway, LF, good link. might review it over weekend.

EDIT: wahey! he has pdfs of his trades, and he shows entry and exit prices.
I feel a number-crunch coming on...

Those names might have been OK in Kensington, but I was brought up in the real Kensington, (Liverpool); "Bertrand, get in here now, your's and Tristran's dinners are on the table.." mightn't have gone down to well with the locals, it was hard enough being a weird grammar school lad who loved boxing and footy as opposed to Rugby...

Anyhow I was named after a Beetle, being called Ringo has been better than Bertrand..just...

Now stop it with all this Holy Grail searching 5hite, MM and Mind is the key, for the the third M (method) you can pick one of 300 free *systems* available anywhere on the web to get you in the right side of the trade..

I've played around with; strats, indicators, patterns, but using HA, pivots, S&R, highs lows = PA is all you need for a strat. Combine that with sound MM and a sound mind (most days) and bingo there's your grail/your edge...you're in the game.

 

[Black Swan]

I'm sure BS will answer for himself. My take on BS's M30 chart, no pivot or S&R shown, HA Candles, when mastered, present great trading opportunities, not a lot of thinking has to be done, added a chart here, M30 GU for today, I didn't trade it, but added PSAR and MACD. I have arrowed PSAR point 2, which presents with a HA trading candle, (double signal) and if you are still in doubt, I added a simplied MACD for direction, very simple stuff really, and by using tick charts to compliment, you can add to or close positions along route.

Hope it makes sense

Don't recognise any of that and tbh you could use any series of indicators to get that curve result, in fact I'd bet you could use a modified supertrend to mimic it, or rsi, combined with two MAs with the macd and adjusted stoch, which is a beginnings of a strat I used last year, to some success. You might as well use two MAs crossing; one slow one fast (ema) as a total indicator based strat...

Folk need to understand that we're looking for a divergence in price from the mean, you can see that with your eyes or use a couple of indicators.

Using your suggestion there, on perhaps EU this morning, you'd have just lost (or be down) 30+ pips...gone in on the 8:30 candle at worst price of 13,227 price has been up to 13,260

 

[Vaco]

BS,

Your so boring, everyone knows its treating trading like surfing that makes money, MM and mind pfff

 

[Black Swan]

BS,

Your so boring, everyone knows its treating trading like surfing that makes money, MM and mind pfff

I often visualise water ski-ing when trading, pretty 5hit when you do it the other way around, ruins your slalom carving...

 

[Vaco]

short 93 30 pip stop

stop at be now, will close at yesterdays low if it fails to break through, if it even gets there.

 

[Vaco]

out for +3 but down 14 for the day as my add on trade closed for a loss, the one touch bounce off of yesterdays low caught me out, oh well not to worry.

270 pips total for the week.

edit: looks like I may have tightened my stop a tad too much as it is dipping back down as I write, ho hum such is trading.

 

[trendie]

I must admit, I don't get Heiken-Ashi bars.
The highs and lows remain the same, but in fast moves, the recalculated Open/Close can be misleading.

Assuming my MT4 HS bar calcs are correct, the HA closes can be different to the "real" bars.
This could lead to eyeball backtesting giving the impression you could have taken a price when you couldn't.

 

[Vaco]

In backtesting always assume you would have got in at the low for shorts and the high for longs.

In fact for your style of trading I would use them as a pointy of referance on a longer tf so for example if your looking for a short is the candle still red on the tf above or does the trend look like its started to turn.

or if you think the trend has changed, do the ha bars on the higher tf confirm.

 

[quaid]

@Trendie

I think you have the wrong indicator for Heiken-Ashi on mt4. You need to look for something online.

 

[trendie]

In backtesting always assume you would have got in at the low for shorts and the high for longs.

In fact for your style of trading I would use them as a pointy of referance on a longer tf so for example if your looking for a short is the candle still red on the tf above or does the trend look like its started to turn.

or if you think the trend has changed, do the ha bars on the higher tf confirm.

I see. If the HA bar colour changes, then use the high/low of that bar as trigger for trend change? that way, if its a spurious wiggle, you don't get spooked out?
That does make sense, particularly as the High/Lows aren't recalculated.

PS: Good pip haul for you this week.

 

[Black Swan]

I must admit, I don't get Heiken-Ashi bars.
The highs and lows remain the same, but in fast moves, the recalculated Open/Close can be misleading.

Assuming my MT4 HS bar calcs are correct, the HA closes can be different to the "real" bars.
This could lead to eyeball backtesting giving the impression you could have taken a price when you couldn't.

use your marektscope package with fxcm, or P-R-T, HA on that is quality and then dyor regarding HA, plenty of You-tube explanation out there. Yes HA lags but for swinging it's not that crucial. Sometimes it's the simple things that we take time to understand, I struggled with fixed trailing stop and dynamic a while back...