I'm gonna go to bed now.
I'm up about 45 pips from a short I entered at 1.3008. Smart Money would say to close it and sleep peacefully. That's just what I was going to do. Then I checked the SSI for the Pair. Just take a look at the other USD based pairs. Incredibly high numbers. So High in fact that I'm expecting a big dive down. If not overnight, sometime soon. I'm gonna hang onto My short and put a stop in one pip below breakeven.
G'nite Earthicans!
Bill, if what we saw was a H&S breakout yesterday,as Ayo pointed out, then what makes you so sure that it's gonna take a dive down. What's the target you're looking at?
Last edited by avkuvalekar; 09-15-2010 at 12:57 AM.
If it's an inverted H&S which it clearly seems like then the target now is about 3220, isn't it?
Btw, welcome back t3t4. How've you been? Me, still losing money.
WOW!!!! didn't realize that but my H&s target would be 3250ish. I don't expect price to get that high but I do have a couple, maybe three scenarios that will toast that level. Hmmmmmmm, gets me to thinking.
A-Yooooooooooo
Go ahead switch the style up' And if they hate then let them hate and watch the money pile up.'
WOW!!!! didn't realize that but my H&s target would be 3250ish. I don't expect price to get that high but I do have a couple, maybe three scenarios that will toast that level. Hmmmmmmm, gets me to thinking.
If it's an inverted H&S which it clearly seems like then the target now is about 3220, isn't it?
Btw, welcome back t3t4. How've you been? Me, still losing money.
Hi there avkuvalekar,
I've been good, just busy working on the house and here lately dealing with my wife. She's got a bug up her butt about something and I can't figure it out! But I guess that's nothing new really......
Anyway, sorry to hear that you're losing. Have you tried using my SMA strategy?
There is a bit more to it that I use as a general whole, but the SMA'a are what I follow the most. Man, they just simply work! I'll stack my method up against the "twins" any day of the hour/week/ or less. If you want another example, just let me know. I haven't played on a monthly position yet, but that is what I'm working towards.
I want the long play currently. Scalping is what I grew up on here in the FOREX world, but I want less day to day hands on screw yourself up kind of a thing! I'm looking for the long run, but either way will work. It all comes down to how much time are you willing to dedicate? That is determined by your level of passion/desire, we've coverd these thing before.
But no worries man, I won't ever pick on you like a tiny hand full have done to me. Speak your mind and ask lots of questions, at least I will listen and so will a much larger couple hand fulls of individuals.
I've been good, just busy working on the house and here lately dealing with my wife. She's got a bug up her butt about something and I can't figure it out! But I guess that's nothing new really......
Anyway, sorry to hear that you're losing. Have you tried using my SMA strategy?
There is a bit more to it that I use as a general whole, but the SMA'a are what I follow the most. Man, they just simply work! I'll stack my method up against the "twins" any day of the hour/week/ or less. If you want another example, just let me know. I haven't played on a monthly position yet, but that is what I'm working towards.
I want the long play currently. Scalping is what I grew up on here in the FOREX world, but I want less day to day hands on screw yourself up kind of a thing! I'm looking for the long run, but either way will work. It all comes down to how much time are you willing to dedicate? That is determined by your level of passion/desire, we've coverd these thing before.
But no worries man, I won't ever pick on you like a tiny hand full have done to me. Speak your mind and ask lots of questions, at least I will listen and so will a much larger couple hand fulls of individuals.
Happy Trading,
t3t4
hello t3t4,, u have mentioned ur sma'a strategy..so would you intoduce it to me please or give me such a link related. i'm new to this forum and need some support in trading.
I'm trying to catch up here on posts, but still lagging behind. I've been otherwise preoccupied/consumed, but I can't help but notice over months worth of history, how people can change like a fart in the wind. I said months ago I was bullish on this pair and some took it to heart as though it actually meant something (I feel sorry for them) and others simply took it. Now that what I've been talking about for months is seemingly underway, all of a sudden a change has come over the community.
I just just don't get it! Much in the same way I cannot understand how some people don't know what they want to do with their lives. As if it was even an question! Comon people, really?
Anyway, glad to be back and so much that I'd love to comment upon, but I'm gonna let most of it go so as to allow history to speak for itself (my proof in the pudding).
Happy Trading,
t3t4
I have the answer to that: its because some traders get too emotionaly involved and never believe this pair would be a long strategey. They bleet on the forum that the only way is short and not long. It does my head in. A certian forum administrater whom recently left banged on about this non stop. Its a market and all markets go up and down. I still place more shorts than longs....but i deefo long when there are dips and the market is looking good for it. Swing trading is one of the hardest things to do because many traders that work fro home are emotionally involved in the hype and the bull. You do whats best for you and keep your strategy going. Sounds like it works for you and sod the rest
Take your profits or the market will take it from you....
hello t3t4,, u have mentioned ur sma'a strategy..so would you intoduce it to me please or give me such a link related. i'm new to this forum and need some support in trading.
AmigoHeba
Welcome to the forum, but sorry man, I have no link to provide for my strategy. It's maybe a one off, I don't know for sure. But it is mine for all intents and purposes.
It begins with a chart, which is the ultimate indicator. I see the patterns on the chart, make the interpretations, and then move on to the SMA's. I use pivot points on a daily setting to quickly determine support and resistance levels. Then I use my trusty SMA's set at 5/20 to determine when to enter and when to exit.
I also use an array of other indicators in the mix, but mostly I use MACD and Stochastics. I use these for many reasons in many ways, but mostly as triggering events. Funny thing is, they are both SMA's as well. The way I trade all of the above is super simple! When the two lines cross, you trade in the direction of the crossing pair. In other words, when the 5 line crosses the 20 line going north, you buy! When the 5 line crosses the 20 line going south, you sell.....
You don't exit a trade until the lines cross, you don't enter a trade until the lines cross. Never second guess the lines, they are correct more then you or I will ever be!
Don't play the candle which causes the cross, wait for it and play the next candle! An active candle is almost never a good proposition. Wait for the next candle and time your entry on the 1 minute scale (something I often fail to do) while paying close attention to the indicators as described above.
You will still lose with this method of trading, but you will lose very little if you adhere to the rules, my rules that is....
But hey, this is just one of many different possibilities, it's up to you as to what it may become.
My proof in the pudding example is below on a daily chart.
Hey man, that's awesome! 9 seemed to work well for me as best I can recall. But the fact that it's now adjustable, well, that's a mile stone achievement. I love Fractals, I still use them sometimes, but I have at least 5 different charts open at one time all loaded differently. I tend to stick with the trust worthy components, let the other stuff fall where it may. That's why I still use fractals, they work too...
Hi t3t4, in you experience how has your SMA strategy worked on shorter time frame charts like the hourly?
Well, that's one thing I totally love about using SMA's, they are NOT time frame dependent! They work everywhere....
Look at MACD for example, tell me where it fails? I can tell you that it fails in the sense of being a leading indicator. There is no such thing as a "leading" indicator since they all lag over time or by time itself. But every indicator is useful in the sense that it's a tool which enables us to win in the FOREX.
SMA's work, and so do many other strategies/tools, so play, have fun, wear a smile regardless if you win or lose, but find what you like the most. I have only shown just one of hundreds of different possibilities. It's what I use and I like it. Point is, what do you like?
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Originally Posted by bill2759
I'm gonna go to bed now.
