Trading Naked - Part 2

[Vaco]

I'm thinking along the same lines for my next trade, i've cancelled the long order i placed yesterday and i'm now waiting for a pullback up before placing a short order around 6590. if it does not get up that far i'll place a short order as per kites method but on the 4h candles.

 

[HawkTrader]

I'm thinking along the same lines for my next trade, i've cancelled the long order i placed yesterday and i'm now waiting for a pullback up before placing a short order around 6590. if it does not get up that far i'll place a short order as per kites method but on the 4h candles.

Interesting, what makes you think there will be a pullback to the upside?

By the way, do you take into consideration the news release coming about 9am, or because 4H is longer TF you simply ignore it?

 

[Vaco]

Interesting, what makes you think there will be a pullback to the upside?
pull up a 4h chart and you will see that every move has a candle closing in the opposite direction in it.


for the current move down i would have liked to see the last 4h candle to have closed a little higher. it did pullback to 6589 before closing very close to its open so maybe thats our pullback for a while. I would have prefferred it to have closed a little higher but have placed my short breakout order at 6539 with a stop at 6598. All still very new to me so i could get it completely wrong.

By the way, do you take into consideration the news release coming about 9am, or because 4H is longer TF you simply ignore it?
ignorance is bliss:cheesy:

 

[foredog]

The dreaded chop monster, avoid at all costs and as the chart above shows wait for the market to tip it's hand.

 

[HawkTrader]

Currently in USD/CHF and that's moving nicely. Anyone see AUD/USD this morning?! I almost caught that but I didn't see it in time!!

 

[Vaco]

no chop on my time frame

 

[HawkTrader]

no chop on my time frame

Damn swingers.

http://www.urbandictionary.com/define.php?term=swinger

 

[Vaco]

Damn swingers.

http://www.urbandictionary.com/define.php?term=swinger

so thats why i'm always so damned tired, shame i've got the memory of a goldfish:whistling

 

[foredog]

Waiting, just because you're looking at a chart with lots of candles doesn't mean you have to make lots of trades

http://www.rodroth.com/The Eighty Twenty Trade.htm

 

[HawkTrader]

no chop on my time frame

No chop on my pair either.

 

[HawkTrader]

Well, I had a nice run down...

 

[trendie]

its spike moves like the one happening just now on GU that leaves my indicators scrabbling in the dust.

 

[mb325]

G/u 25/11

Morning all.

Chart below of the day so far.

S4 is now in at just below 700 following another m5 swing low.

Hope everyone else is having a good start to the day!

 

[foredog]

How to snatch defeat from the jaws of victory. After a few rocky days i was trying to avoid another loss and instead managed to avoid 150 odd point profit

Top chart is what to do properly, bottom one is what i did.

 

[HawkTrader]

Nice move on GBP/USD, quite happy with the trade, played it to my rules expect I totally forgot about the GDP that just came out! I normaly run away when big news is coming, esspecially if I have a decent profit.

I was up about 70 pips, but then it dropped to about 30 pip profit and didn't trigger my trailing stop, I tryed to close there but I got this

"Sorry
Another order may be in the process of being filled on this same position. Please call us if you wish to discuss." from IG Index.

I realise I experienced slippage, but I thought they would have let me close further down, anyone else have that experience? Could have been worse though, it went back up to +59 pip profit and closed me there! Not bad as I still got 1:3.

 

[Bloodhound]

Good morning,

We all seem to be posting the same chart this morning so I thought I'd add a little perspective! I guess we need the good days to pay for the bad.....

Cable - 24/11/09


Cable - 25/11/09


All the best

Rob

Edit: for T1 +49 read T2 +49

 

[trendie]

glad to have you back on your own thread, KJ!

yes, a decent 60 pipper on GU means I'm happy too this morning.
pity I gave half of that back on the EJ spike down. (my own fault, the small overnight range of 65 pips meant I should have been looking for breakouts, not trend-moves)

good stuff everyone.

 

[Bloodhound]

glad to have you back on your own thread, KJ!

Good to be back Trendie!! The joys of moving house.....

 

[HawkTrader]

I concur, great to see you back here KJ. By the way, are you in the States now, your profile says so? Won't the time difference make it hard for you to trade the Lodon session on Cable?

 

[Bloodhound]

I concur, great to see you back here KJ. By the way, are you in the States now, your profile says so? Won't the time difference make it hard for you to trade the Lodon session on Cable?

Not yet but hopefully will be quite soon (or nearby anyway!)

Yes, you're right about the time difference - will be a pain....