trader_dante
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Trade to win
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trader_dante
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trader_dante said:
Order cancelled as price broke session low first.
pssonice
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I ve absolutely now idea why u r trading usdcad in the morning
because the us market is closed usccad is forced to move by random.
simple charttechnic is telling traders that the primary market in EURUSD bottomed out.
if EURUSD bottomed out usually the european stockmarket topped out.
u can do everything u like but trading in the secondary market is a waste of time and it is stupid by the way.
I dont get wat people like u r thinking and doing.
because the us market is closed usccad is forced to move by random.
simple charttechnic is telling traders that the primary market in EURUSD bottomed out.
if EURUSD bottomed out usually the european stockmarket topped out.
u can do everything u like but trading in the secondary market is a waste of time and it is stupid by the way.
I dont get wat people like u r thinking and doing.
trader_dante
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pssonice said:
When I originally wrote that first post, I had said I was going to go long or short that inside bar depending on which way it broke. However, my broker will only allow me to play one way on an order so I decided on a long bias and edited the post accordingly.
As it happens, it broke short and has followed through with a sharp fall today.
I value your feedback pssonice, but I disagree with you. I have found that playing this way gives me a profitable edge and it makes no difference whatsoever, what time of the day I choose to enter the trade.
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trader_dante
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EUR/CHF - Daily Chart.
Not the best PB but decided to play it on a break of the session low with a stop at the 61.8% ret of PB.
EUR/CHF - Hourly Chart.
Short filled this morning but exited prematurely after seeing the hourly PB form.
Profit - 5 points
Look to re enter short based on where weekly chart closes.
Not the best PB but decided to play it on a break of the session low with a stop at the 61.8% ret of PB.
EUR/CHF - Hourly Chart.
Short filled this morning but exited prematurely after seeing the hourly PB form.
Profit - 5 points
Look to re enter short based on where weekly chart closes.
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trader_dante
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Trader333 said:
Actually, this was my mistake. It was late. I wasn't thinking. I can straddle price with two orders.
trader_dante
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End of week summary:
+5 points
+5.9%
+5 points
+5.9%
trader_dante
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trader_dante
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EUR/USD
Order cancelled as PB has been invalidated.
Order cancelled as PB has been invalidated.
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trader_dante
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trader_dante
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Hello Jacinto,
A PB is my abbreviation for the Pinocchio bar - coined by Mr Pring. This bar is when the open and close are within the previous bar and the body (the nose) is long and protrudes outside the recent range. Pring said that it can be seen as lying to you - telling the trader one thing when the market is going to do the opposite. Therefore it signals that there may be a reversal in the market. The term relates to bar charts but if you use candles as I do, it translates to a hammer in a downtrend or a shooting star in an uptrend.
A PB is my abbreviation for the Pinocchio bar - coined by Mr Pring. This bar is when the open and close are within the previous bar and the body (the nose) is long and protrudes outside the recent range. Pring said that it can be seen as lying to you - telling the trader one thing when the market is going to do the opposite. Therefore it signals that there may be a reversal in the market. The term relates to bar charts but if you use candles as I do, it translates to a hammer in a downtrend or a shooting star in an uptrend.
thanks T Dante, gotcha,
yes, im familiar with Pinbars. i use bars, but started with candles. actually, i change my charts from candles to bars and back again all the time.
anyway, thought PB was your abreviation for pullback.
thanks,
good trading
j
edit: by the way, have you ever used pinbars as breakout+pullback bars all in one? interesting concept.
yes, im familiar with Pinbars. i use bars, but started with candles. actually, i change my charts from candles to bars and back again all the time.
anyway, thought PB was your abreviation for pullback.
thanks,
good trading
j
edit: by the way, have you ever used pinbars as breakout+pullback bars all in one? interesting concept.
trader_dante
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trader_dante
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I felt very disappointed this morning. Going through the charts last night I added fourteen markets to my watch list, complete with entry and exit points.
However, I ended up going out last night without setting orders and came home late this morning to find that many were trading above my entry point by a considerable margin.
Looking at the list and taking the current closing price, eight trades are up by a combined total value of 273 points. Two of the trades are down by just 19 points between them. Four of the potential trades would not have had their orders filled in the session.
Since I do not trade very often I feel disappointed that I missed this opportunity but at the same time I feel confident that what I thought would have happened, did, on the majority of the markets I looked at.
Next week I am going into the office to do some temp work for the same company that I left to trade, so I doubt I will get to monitor positions during the day. However, I will still be placing orders as and when the opportunities arise...
End of week summary:
+12 points
+13.4%
However, I ended up going out last night without setting orders and came home late this morning to find that many were trading above my entry point by a considerable margin.
Looking at the list and taking the current closing price, eight trades are up by a combined total value of 273 points. Two of the trades are down by just 19 points between them. Four of the potential trades would not have had their orders filled in the session.
Since I do not trade very often I feel disappointed that I missed this opportunity but at the same time I feel confident that what I thought would have happened, did, on the majority of the markets I looked at.
Next week I am going into the office to do some temp work for the same company that I left to trade, so I doubt I will get to monitor positions during the day. However, I will still be placing orders as and when the opportunities arise...
End of week summary:
+12 points
+13.4%
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trader_dante
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Looking through the charts this evening, I noticed some unusual activity in the EUR/CHF that drew my attention.
I had an opinion on this, because I have seen this type of action before and I have always made of lot of money when I do.
Comparing the pair across brokers confirmed a discrepancy and proved to me that the large movements up and then down were, infact, "in error". So I set to work.
As the market made several of these large spikes in succession, I managed to trade in and out frequently, selling at the top and buying as the price corrected.
I could have made much larger bets but I traded with a good degree of caution because I thought there was a likelihood that the broker would try and ruin the people that were doing this.
There were two ways that I was wary of. The first had to do with the duratiion the price remained static. At first it would remain at a high for several seconds, giving plenty of time to enter the market. But eventually, it would correct so quickly the probability was high that you could click as it changed and be filled at the bottom.
The broker I use sets automatic stops on your positions and I was also aware that a short position at a low (or even at a high) could have resulted in a trader being stopped out in an extremely large spike, as happened at 9.11pm, if the margin wasn't used carefully.
Being careful like this, I missed a lot of opportunities but still managed to increase my account by over 75% in 15 minutes.
Profit - 55 points
I had an opinion on this, because I have seen this type of action before and I have always made of lot of money when I do.
Comparing the pair across brokers confirmed a discrepancy and proved to me that the large movements up and then down were, infact, "in error". So I set to work.
As the market made several of these large spikes in succession, I managed to trade in and out frequently, selling at the top and buying as the price corrected.
I could have made much larger bets but I traded with a good degree of caution because I thought there was a likelihood that the broker would try and ruin the people that were doing this.
There were two ways that I was wary of. The first had to do with the duratiion the price remained static. At first it would remain at a high for several seconds, giving plenty of time to enter the market. But eventually, it would correct so quickly the probability was high that you could click as it changed and be filled at the bottom.
The broker I use sets automatic stops on your positions and I was also aware that a short position at a low (or even at a high) could have resulted in a trader being stopped out in an extremely large spike, as happened at 9.11pm, if the margin wasn't used carefully.
Being careful like this, I missed a lot of opportunities but still managed to increase my account by over 75% in 15 minutes.
Profit - 55 points
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trader_dante
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I found what look to me, to be some potentially profitable setups this evening.
I have this feeling of reluctancy however - like I shouldn't risk giving back a large part of the windfall profit I made this week.
There is a part of me that considers that as I am well up on my personal target for the week, I should stay on the sidelines until stronger opportunities present themselves.
But then a part of me retaliates. I say to myself that similar setups have worked before, that being patient is my edge and I have waited for these opportunities...why shouldn't I take them just because I have made more this week than I set out to?
if I saw these setups next week, I would take them, so why shouldn't I take them now?
The reason for these thoughts is the equity in my account. While it has enforced the discipline of patience it also makes me doubtful.
There are six markets in my watch list - I have decided to consider just three. They represent the lowest risk in pips of the six. The others pose a risk that I consider, at this time, to be unacceptable.
I will see how these three are trading as the session comes to a close and make a decision.
I have this feeling of reluctancy however - like I shouldn't risk giving back a large part of the windfall profit I made this week.
There is a part of me that considers that as I am well up on my personal target for the week, I should stay on the sidelines until stronger opportunities present themselves.
But then a part of me retaliates. I say to myself that similar setups have worked before, that being patient is my edge and I have waited for these opportunities...why shouldn't I take them just because I have made more this week than I set out to?
if I saw these setups next week, I would take them, so why shouldn't I take them now?
The reason for these thoughts is the equity in my account. While it has enforced the discipline of patience it also makes me doubtful.
There are six markets in my watch list - I have decided to consider just three. They represent the lowest risk in pips of the six. The others pose a risk that I consider, at this time, to be unacceptable.
I will see how these three are trading as the session comes to a close and make a decision.
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