Best Thread Potential setups

[Black Swan]

WTF is all that advert $hit about Andre?? Not the right place for it I would suggest as I fail to see the 'set-up' or do I????

spam, come on mods, FFS get it off.

 

[trader_dante]

man nice call,still trying to get my head round pins and now you throw inside bars into the mix

how much a point on this trade tom??

Just 2 lots (£18 per tick)

 

[jev]

Morning everyone - pretty new here, been trading awhile, got the same story as so many others have posted here and had mixed results through similar reasons to everyone else.

Now (and mainly because the banks have screwed up the world, and corporates dont currently like to be seen doing the things my business caters for !) I have alot more time on my hands to trade. I've been trading S&P stocks purely because the only person who ever helped me at the start did just that, but then I found T2W and have been reading Trader Dantes excellent forum and from there have moved to J16. I'm incredibly impressed Tom, that you took so much time to educate others and your information is invaluable. (don't you get fed up with people blowing sunshine up your backside!?) Anyway my question is this, (and is probably aimed at Trader Dante but not wishing to disregard the others whos excellent contributions make this place what it is) what charts people use (I have Telechart2000 which doesn't list many of the tickers you guys mention) or do you just use the charts that are linked to your trading accounts? And would you recommend Forex over equities or commodities? I realise that all markets go up and down and each can be as good as others, but I just feel I am barking up the wrong tree and it would be great to get a list of tickers other "one man band" traders use, and how many items you keep in your watchlists? I am sure these type of questions should be posted elsewhere on here and apologies if they are stupid questions. (I'm sure I've seen a list of TD's posted on here somewhere, but just spent an hour trying to find it) Thanks

Hi Tradedays

I, like many, use metatrader4 as my charting package...but trade using SB brokers...you can get it from the north finance website as a free demo account...I currently use this across 2 screens...this will determine how many markets you can follow as will the timeframe you choose to trade...trade the daily setups and you can follow more markets...trade 5min charts and imo one should focus on fewer instruments...unless you are a seasoned pro...

If you are going to trade the dailys then a quick market set up could be as follows:
Currencies:
EUR/USD, GBP/USD, USD/JPY, USD/CHF, USD/CAD
Indicies:
WALL STREET, FTSE,DAX
Commodities:
OIL, GOLD, SILVER, WHEAT, SOYBEANS

you can add or takeaway as you like to the above.

A careful note of caution on commods...know the live trading times for your market as out of hours liquidity can mean larger spreads and closed trading times

 

[tradedays]

Thanks Jev

I had seen alot of people use MT4 demo account, thats a great help - just downloading it now. And thanks for the tip on the Commods

Hi Tradedays

I, like many, use metatrader4 as my charting package...but trade using SB brokers...you can get it from the north finance website as a free demo account...I currently use this across 2 screens...this will determine how many markets you can follow as will the timeframe you choose to trade...trade the daily setups and you can follow more markets...trade 5min charts and imo one should focus on fewer instruments...unless you are a seasoned pro...

If you are going to trade the dailys then a quick market set up could be as follows:
Currencies:
EUR/USD, GBP/USD, USD/JPY, USD/CHF, USD/CAD
Indicies:
WALL STREET, FTSE,DAX
Commodities:
OIL, GOLD, SILVER, WHEAT, SOYBEANS

you can add or takeaway as you like to the above.

A careful note of caution on commods...know the live trading times for your market as out of hours liquidity can mean larger spreads and closed trading times

 

[patw]

Just 2 lots (£18 per tick)

nice work dude

entry? exit? stoploss?

 

[trader_dante]

nice work dude

entry? exit? stoploss?

Entry: 1.3661
Exit: If you read the thread, you'll see I don't do exits.
Stoploss: 1.3682

 

[Plug 5]

Entry: 1.3661
Exit: If you read the thread, you'll see I don't do exits.
Stoploss: 1.3682

Is that stoploss of 1.3682 based on hourly charts. I thought you'd put it at the high of the inside bar ie. 1.3715?

 

[trader_dante]

Is that stoploss of 1.3682 based on hourly charts. I thought you'd put it at the high of the inside bar ie. 1.3715?

I've already moved it as per my trade management strategy.

But numbers may not be exactly the same because I am trading the Futures aswell as the Spot.

 

[Plug 5]

ahhh

 

[tradedays]

Hi TD, have you posted your management strategy on here? I have seen a few posts mentioning it. I'm working on trading plan right now - based on J16 group info and wouldn't want to miss anything you've posted on the subject, most things translate but it would be nice to have a UK point of view. Cheers

I've already moved it as per my trade management strategy.

But numbers may not be exactly the same because I am trading the Futures aswell as the Spot.

 

[Plug 5]

My money management rules are 5% risk on accounts below £10,000 and 2% for accounts above £10,000 and only enter when you expect a risk/reward ratio of 1:2.

 

[patw]

Entry: 1.3661
Exit: If you read the thread, you'll see I don't do exits.
Stoploss: 1.3682

Thanks tom

lot 1 sold at 13539
lot 2 still open right?

Hope i am reading you here lol

 

[Plug 5]

EURJPY is also showing a double top at the moment with an inside bar. This looks like a good short opportunity if it remains at the end of the hour.

 

[trader_dante]

Thanks tom

lot 1 sold at 13539
lot 2 still open right?

Hope i am reading you here lol

Indeed.

 

[patw]

Indeed.

and doing well might i add

the drinks are on you tom

 

[patw]

Entry: 1.3661
Exit: If you read the thread, you'll see I don't do exits.
Stoploss: 1.3682

stop moved to 13590 if 1H candle closes below last pivot low?
and just trail your stop as above and your stop is your exit?
yes?

tom
Do you also use this management strat on the dailys?

 

[Technically Fundamental]

What did I tell you about gold?
What did I tell you about UK banks?

Did I forget to metion that I'm highly clairvoyant?

No seriously though you can trade on macro calls

 

[Bloodhound]

Am posting this a few minutes late I'm afraid as I was having techno issues but there are nice pins on the 1H Dow and S&P bouncing nicely off March 18th lows....

 

[trader_dante]

stop moved to 13590 if 1H candle closes below last pivot low?
and just trail your stop as above and your stop is your exit?
yes?

tom
Do you also use this management strat on the dailys?

Yes I do use it on the dailys.

The stops is only moved once when the candle closes below the pivot and then not again until a close below the next pivot.

It's not moved to the high of EVERY candle that closes below the pivot.

Give the trades room to breathe.

 

[santana55]

Dow

Nice divergence in Dow indicating a nice move up....