Best Thread :|Entry=Risk Exit=Reward|:

[klastica]

On your video you mention you watch the ticker. What is the ticker?

 

[KillPhil08]

The ticker is the ticket. It's the updating price for an individual product. When you go on watchlists you can watch multiple at a time but this can be hard to multitask. I usually just watch the one at important s/r.

Here's a quick vid I made 5 secs ago:

(it's just being processed wait 5minutes)

 

[KillPhil08]

Unfortunately all these pics take time to make. Here are some cable ones:

Going to be more aggressive on my other accounts. Bit busy tonight but will post something up tomorrow morning I hope, should include what i've been doing wrong etc.

edit:todays picture missed out some of the exits and stops that i hit, can't really be bothered with noting them but my profit on cable today was just a little over 180pips, FAR FAR too much effort in doing so though - it'd have been a lot easier doing one short from top to bottom - but in hindsight it would be. In future I should have added aggressively short and NOT taken profits along the way. However the zigzag approach worked well. Please pay attention to the analysis not my entries : - Infact, in future I'm only adding entries which aren't scalps and only one way (like the oil trade i did last week).

 

[KillPhil08]

EURUSD:

Today I wanted to short and tried to short 4 times. Each one worked but none hit my target of 12741. If I had been patient this would have worked. I'll try another longer term one tomorrow I guess. (did some more scalps on this but thats not the point, the point is R:R to the max!)

USDCAD - Took the pin and bought on a break of 128, got out at 12828 and went long again at 12826 in a second attempt. This time I got out at 12874.

FTSE: Woke up late so tried to short it all day, shorted cash at 3730 3725 3720 3715 3704 - Av = 3719, exit = 3700. One of my early big wins for the day.

Anyhoo, night all.

 

[KillPhil08]

In reply to my cable trade - I was completely oblivious to what i should have done, hopefully tomorrow I'll bring to the table a new mindset and rules.

Imagine hitting cable for 200 points (230points max) and having a stop of 5. This is the point of this thread and its time to get back on track.

 

[KillPhil08]

Your talking my kind of language, all though its still a 'foreign' one to me and I'm still coming to grips with 'English'!

Excuse my ignorance here, but my impression/understanding was that your methods tended to create many smaller trades rather than one or two big ones.

Yes you are right, they are all intraday trades + scalps. However, these techniques often hit the top and bottom of a large wave OR the breakouts hit the start of new trends that it's very annoying you can enter a trade - stick the stoploss to b/e - and not see that level again for day/s/weeks. What I'm trying to do is decipher when I enter which trades are golden ones, which I can hold for a long time.

This impression comes from the first 50% or so of the TD Making Money thread, where you talk of adding/adapting his methods to yours, but with tighter stops (often resulting in early exits) - your overall comments, not mine.

Maybe I should finish the thread before I pass comment. Whatever method(s) you're using they are obviously working though, so I'll keep following your posts and learn what I can. Certainly you appear to be generating the big numbers however and if I can learn to mimic just part of this I will be a very happy 'bunny'.

Thanks again for your efforts.

Webinvester

I learn't like everyone else probably did on this website:

1, FTSE BEATER - Basic S/R (i think that's the link).
2, TD - Making Money Trading - Pinbars, levels and so forth.
3, Phil Newtons Range Breakout (Highly adapted from this and I should give him a lot more rep)

Unfortunately, I haven't read THE WHOLE thread as after you get 25% into them the same questions pop up.

The real way I learn is:

Trial and Error
Watching the same 3 markets for the last year

TA DA!

No, but eventually you'll see the same setups crop up a lot, and although they should be treated individually, they can often have the same results.

Good Luck, tell me how you get on .

 

[KillPhil08]

that cable play was good. i happen to be online when that happened and i took it too on the 5min chart. It was fairly easy. Although my stops were not 5, but they were still very small and im still holding now coz i do 4H timeframes. Great R:R i like this kind of trades coz position size can be so much larger.

And i knew a pro like u would have taken it too.

Good man, I held my first overnight trade yesterday. It was quite hard to detach me from my ipod touch...

entry was 13702 with a stop at 13796. I moved it to breakeven after I was 30 points up. Hit my target of 13790 (just below the resistance I wanted to see).

Good tankage at 3:30 - don't know what caused it, but it can only be good for your trade . (might have been the japanese market tanking at 3:30 - USDJPY looks like it rallied/tanked then too [if anyone knows why this happened here please tell me, perhaps just simple TA - but it mucked up my overnight range])

Are you aiming for 1.35? That number is getting increasingly closer!

phil

 

[KillPhil08]

Well, this overnight tankage has certainly made a BIG range for overnight. In my opinion, this is going to be hard to trade. I think the ftse is overbought (yesterday i said it would hit 3700...it did ), hopefully profit taking etc will cause this to go down along with FX. Cable is getting increasingly closer to 13500, 200pips is nothing. Euro - Go onto daily and that'll explain what happened yesterday.

FTSE:
My friend said yesterday if this opens around 3780 area on the 28th feb - 2nd march gap then this should be good resistance (via Market profile). At this time it's only 20 points off, hopefully the dax might push the underlying market up (ftse before 8pm is just off the DOW FUT i think). Anyways, I'm going to be looking for shorts and reversals. I'd love this to gap up, because there would be heavy selling then imo.

Cable: Wide range, hard to trade. In hindsight I did say I hoped NFP would make some direction, we are now 600 pips further on. My laziness has prevented me from good trades. Hopefully this will go down, I'd be looking for 1-2-3s' or breakouts personally. I have trendline marked and 13670, 13736, 13747, 13807 - if it gets here (13807) the down trend will have been broken unfortunately [ this doesnt mean look for longs ].

Euro: Daily chart yesterday brought it down crap loads . Triple hammers on hourly clear signal of direction. It was unfortunate that indices were rallying because the processes took 4-5 hours before momentum kicked in. Hourly, we are just kicking around the uptrend line. I have 12632 12685 12737 marked for the shorter term at least.

USDCAD: Deciding time for direction IMO, hammer bar still holds strong. Let's see what happens.

EURGBP: Euro weakness has now caught up with sterling weakness. 9250 seems an important number. Personally, I'm only going in if i see cable doing something big.

AUDUSD: Mid range, boring.

Some moves have just started, good luck for the day. Hopefully we'll see some good moves around 7-9.

Phil.

 

[KillPhil08]

Short euro from 12634 hehe out 12620(as typing), cable 13668 (out 13658). Profit locked in, euro just hit off uptrend, hoping cable pulls back into (or past) 13670. Fading these right now, typing cant keep up with teh market.

 

[KillPhil08]

Forgot to say guys:

Economic Calendar
Real-time Analysis & News Ltd

From now on news should be impacting the markets. We have retail sales, trade balance, ZEW, Fed rates, BOJ Rate decision, BoE Minutes, NZD Rate, etc etc.

CABLE RIGHT NOW. HEAVILY SHORT FOR THE FADE

update:Erm, I think I might take the day off now...

Went long 13665, managed to get the whole spike, out at 13726 (due to reversing position). heavily shorted at 13726 out at 13700.

Almost hit my daily target already and ftse hasnt even opened.

hindsight of the trade:Crap exit, but shorted again for a little profit.

 

[teojh]

Good man, I held my first overnight trade yesterday. It was quite hard to detach me from my ipod touch...

entry was 13702 with a stop at 13796. I moved it to breakeven after I was 30 points up. Hit my target of 13790 (just below the resistance I wanted to see).

Good tankage at 3:30 - don't know what caused it, but it can only be good for your trade . (might have been the japanese market tanking at 3:30 - USDJPY looks like it rallied/tanked then too [if anyone knows why this happened here please tell me, perhaps just simple TA - but it mucked up my overnight range])

Are you aiming for 1.35? That number is getting increasingly closer!

phil

im cautious abt cable. might get out soon. i think will see how, as currently there is a downward sloping triangle formation on 1HR. Not sure where its breaking out but its making LH n LL.

i don't think i will be so lucky to find a 5min entry for trades in future, unless by chance im looking. i will just come here to read ur exploits.


edit: as i was typing. it broke out. and it complements an inverted 1min H&S. So got out at 3751. a bit too late. so now just waiting to see if i made the right decision

edit again: i reentered my shorts at 3741 at the neckline of the inverted H&S. no drawdown yet. maybe ur 1.35 target is coming true.

 

[KillPhil08]

I'm really tired. EXHAUSTED. So will type this when I have more energy.

On cable theres been some more scalps since my last post. Primarily long on 14002 out at 21 then long 24 out 33 and long 95 out 04.

If anyone has a recommended energy drink it'd be much appreciated.....zzzzzzz

edit: **** forgot on the 1st pic my euro reverse ffs

just looking at the pics you can tell they deterorate as you go on. Start with the ZEW one. Also, weird s/r on cable at the top of the range 23 pips difference. This happened on ftse last week (all s/r was 30 ticks away from each other).

gl mucho love

 

[KillPhil08]

Old video now embedded

Old vid - just wanted to embed it. Also keeps the resolution close to right size.

"this broke the UPTREND (should be downtrend)"

 

[KillPhil08]

Scalpers must be loving this, I know I am. 10-60 pips every rbs on eurusd and cable rallies. V easy if you know what your looking at. Haven't even been stopped!

 

[KillPhil08]

Going away so I doubt I'll be trading tomorrow. I had a ftse sell on from 3911 in the close of the dow the other day, that position is at b/e. Was +140 i think at one point, not really paying attention to it I cut 2/3rds of it after 100 points. Potential tops for cable and euro here. Could be good for a LONG time.

 

[KillPhil08]

YouTube - Corporeal: All We Got

My goals are:

1. To maximize my R:R ratio(Y)
2. To become proficient in swing trading and scalping
3. To maximize the amount of pips I get and hit rate(Y)
4. To become effiencient at using 1 hour and daily charts(Y)/(N)
5. To build a portfolio of stocks once I feel the bottom of the equity markets has been reached(N)
6. To maximize and specialise in more markets(Y)
7. To conquer my psychology, become disciplined and fearless.(Y)(N)

This thread is now all about hourly charts with addition of 5minute entries. Dailies for major areas.

Be back later to post some stuff, last few days I have been quite ill.

 

[KillPhil08]

Putting all my entries etc is very time consuming, if i got in a good scalp or if there's an area - say a scalping range, I might post it. But I'm trying to do both, longer term (with posting) and scalping without posting.

My new broker has wider spreads and wide stops, so it's been a total mind f*ck to my psychology, I just need to learn to walk again on a new platform.

Not sure if it was self inflicted to be honest!

Good luck!

 

[KillPhil08]

Got out of my cable trade at 14595ish but reentered just after 14600 - it was a bit pointless.

Currently managing this ftse trade and cable.

lolz at boe.

Current stop for ftse is at 3865, needs to break this low again.

Cable running out of pace too, going to trail stops to 50% of candles instead of the end of the tails like shown in the picture.

 

[KillPhil08]

Out. I can seet his being a potential bottom for 20-30 ticks.

 

[KillPhil08]

Just some analysis. It's either going to break down the trendline to the lower one? break that then go to the lower bit or break it then continue up. or break 13450 then retest or test 13450.

lolz lots of stuff could happen.