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thalestrader

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I shorted that as well.

 

There was a good setup in E/J too, but the spread is so wide

 

Snap!

 

I do not watch E/J - but preffered the E/U and U/C due to "clean" looking setups.

 

Thales teaching us very well :)

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Snap!

 

I do not watch E/J - but preffered the E/U and U/C due to "clean" looking setups.

 

Thales teaching us very well :)

 

Here is how mine looked. The E/U I took is at BE now, but that initial push down literally missed my PO by about 2pips(Only one target right now).

 

The E/J looks very similiar and would have been a nice trade it seems. But the spread was 3 pips at the time, giving me a goofy entry to short the BO.

 

Ugh....

 

------------Addendum(13:25EST)--------------

Target hit

mine.thumb.jpg.7173896a5eb5c997ce018b0487a723e0.jpg

Edited by forrestang

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Did poorly again this morning and easily missed out on 3 winners for at least +300/per. I've been on sim for so long getting back onto the live account has been difficult for me to pull the trigger at times. Its getting easier. After my early morning blunders I did catch two winners. They were admittedly small winners but as of right now i'm filtering trades based off potential risk and that means smaller risk - smaller reward. That being said - my account is up 9.5% this week thus far even with my bad trading.

 

I quit trading at 11AM after my last position closed out. I was upset about my performance and just happy to be walking out with some money in the account. 3 pars, 2 winners. Should've been 3 pars, 5 winners. Oh well. There is always tomorrow.

 

attachment.php?attachmentid=15502&stc=1&d=1258571805

attachment.php?attachmentid=15503&stc=1&d=1258571805

 

Hope everyone is having a good trading day!

 

Also - thales i'll tone down my language a bit. I didn't realize we had young eyes amongst us. My apologies!

pic001.PNG.59c62e142fec7304ed38e63e72bb2532.PNG

pic002.PNG.9a3cfab219d04d74e923d5f4ebeb9b18.PNG

Edited by daedalus

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Probably not the best time to initiate this trade.

 

If you look at my bigger chart, I have support down at about 1.6709 or so. We put in a temporary bottom at least a few pips higher. I am playing a BO to the upside. I may be willing to try again later if I am stopped.

 

-----EDIT(15:07est)-----

For whatever reason I am still in this trade. HOpefully I'll get a break where I can get to par as I found that pb rather annoying.

GU1.thumb.jpg.b2d0c5ad3391b15b4aba3567733601e4.jpg

GU2.jpg.eb8740730972122b66b9873281b218e9.jpg

Edited by forrestang

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Probably not the best time to initiate this trade.

 

If you look at my bigger chart, I have support down at about 1.6709 or so. We put in a temporary bottom at least a few pips higher. I am playing a BO to the upside. I may be willing to try again later if I am stopped.

 

-----EDIT(15:07est)-----

For whatever reason I am still in this trade. HOpefully I'll get a break where I can get to par as I found that pb rather annoying.

 

I am at BE now, so stress is gone. Will adjust as nat stops develop. I'm sure this thing will stop me to the tic before going up 600pips in 15 minutes.

 

EminiNQ and I were discussing that this decline may have made it easier for a rise to occur. As sellers worked hard for such a move downward and couldn't hold. They may now be forced to capitulate as price rises.

gu1.jpg.5a6d2bfe663b390304531be9535da9f3.jpg

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..............[ATTACH]15484[/ATTACH] Yes I would follow the fractals up or recent sup&res.

 

Hi Don,

 

Nice trading today ... Congratulations!

 

When you say you are "following the fractals up," you should show us on your charts that to which you are referring.

 

No secret handshakes allowed in this thread. We all share, and we share all.

 

Best Wishes,

 

Thales

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Not to detract from the forex stuff but I thought the movement on crude oil (CL) ...

 

This is not a forex thread, though it certainly seems that way much of the time. If you can trade it and it is liquid, feel free to post it.

 

Best Wishes,

 

Thales

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Hi Folks,

 

I saw this opportunity on the EURJPY unfolding, but I didn't trade it, and I didn't take a screen shot 'til now. My daughter is usually with me for the early Tokyo session, but she was feeling tired and has turned in already, and I guess I'm feeling a bit lazy.

 

Anyhow, this is after the fact, but it sure was a nice little trade, offering a +27 PT1 for a -12 initial risk. As you can see it declined into the first PT.

 

I see now that it is taking quite a bounce form that level. I do not know if it will continue higher to what would be a BE stop, or if it will resume the decline and hit PT2. Because I don't know, I take profits and protect capital.

 

Best Wishes,

 

Thales

5aa70f61d844b_11-18-2009EURJPYDoh1.thumb.jpg.85cb5b1b8849f68d3d88d3385941dbd9.jpg

5aa70f61dd891_11-18-2009EURJPYDoh2.thumb.jpg.d0b0ddece4ba5daa4199d39662654c4a.jpg

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Hi Folks,

 

I saw this opportunity on the EURJPY unfolding, but I didn't trade it, and I didn't take a screen shot 'til now. My daughter is usually with me for the early Tokyo session, but she was feeling tired and has turned in already, and I guess I'm feeling a bit lazy.

 

Anyhow, this is after the fact, but it sure was a nice little trade, offering a +27 PT1 for a -12 initial risk. As you can see it declined into the first PT.

 

I see now that it is taking quite a bounce form that level. I do not know if it will continue higher to what would be a BE stop, or if it will resume the decline and hit PT2. Because I don't know, I take profits and protect capital.

 

Best Wishes,

 

Thales

 

 

In one of your post you said that your entry is a tick beyond the signal point.

In another post you mentioned something about the SPREAD + some margin. Maybe it was 1.5-2 times the spread.

I think it was in reference to the stop point.

 

The prices that we see in the chart are - as far as I know - average prices between the bid and the ask at the moment.

 

Could you break down a trade into the actual NET pips as compared with the theoretical from the chart/posts?

 

Thanks

 

Gabe

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A 4 hour look at the G/J. Price has been coiling for some time. The BO should produce some nice trades.

 

Hi Forrest,

 

How are you trading based on this?

 

Best Wishes,

 

Thales

 

Looks like the G/J at least has temporarily ventured outside of its temple.Possibly bounce at Support here and move back towards the midpoint of this hinge for now.... OR move down or do whatever it wants:confused:

 

-----ADDENDUM-------

The market is moving down pretty smoothly. Areas of interest for me ATM.

5aa70f61e68cb_11-18-20097-16-59PM.thumb.jpg.ed279b394b53812c93b8cf4c1ac0acda.jpg

5aa70f62278dd_11-18-20097-30-25PM.thumb.jpg.18d660c6ff4367cf06e564aa43282f27.jpg

Edited by forrestang

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In one of your post you said that your entry is a tick beyond the signal point.

In another post you mentioned something about the SPREAD + some margin. Maybe it was 1.5-2 times the spread.

I think it was in reference to the stop point.

 

The prices that we see in the chart are - as far as I know - average prices between the bid and the ask at the moment.

 

Could you break down a trade into the actual NET pips as compared with the theoretical from the chart/posts?

 

Thanks

 

Gabe

 

Hi Gabe,

 

Since the spread on the pairs we've been trading have averaged about 1.2 pips, what you see in my posts are pretty much what we get. However, I have noticed lately that FXCM has introduced a .1-.2 slippage on some stop orders. The charts you see are using the Gain feed through Ninja trader, and usually a break there by one tick will is sufficient to work the trade. When I used some demo platforms from Oanda, forex.com, and GFT, I found that usually 2x'sthe spread was necessary to keep from getting stopped in to the trade without the trade actually triggering. Honestly, If FXCM ever stops offering the the small spreads on the micro account, I think we'd be done with spot and just trade the CME futures.

 

Best Wishes,

 

Thales

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As you can see it declined into the first PT.

 

I see now that it is taking quite a bounce form that level. I do not know if it will continue higher to what would be a BE stop, or if it will resume the decline and hit PT2. Because I don't know, I take profits and protect capital.

 

You know you picked your PT's well when price trades through them (assuring a fill) and then reacts against them, at least temporarily.

 

Both TP's hit, but there may be more gas in the short side tank.

 

Best Wishes,

 

Thales

5aa70f61f0b3f_11-18-2009EURJPYDoh3.thumb.jpg.5cd9c330f3a9477aa3b54ea2cb84a6c9.jpg

5aa70f62025ad_11-18-2009EURJPYDoh4.thumb.jpg.055c55b0822cfc3c95a0681506683626.jpg

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Looks like the G/J at least has temporarily ventured outside of its temple.Possibly bounce at Support here and move back towards the midpoint of this hinge for now.... OR move down or do whatever it wants:confused:

 

Range contraction followed is followed by range expansion. The last few weeks have been coiling up tight. Whichever way this thing starts to trend, it could be a big move. The key for me is to be patient and wait for price to inidcate it is ready to trend.

 

Best Wishes,

 

Thales

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In one of your post you said that your entry is a tick beyond the signal point.

In another post you mentioned something about the SPREAD + some margin. Maybe it was 1.5-2 times the spread.

I think it was in reference to the stop point.

 

The prices that we see in the chart are - as far as I know - average prices between the bid and the ask at the moment.

 

Could you break down a trade into the actual NET pips as compared with the theoretical from the chart/posts?

 

Thanks

 

Gabe

 

Here are the current spreads at FXCM on the four pairs that my daughter and i typically trade. As you can see, what you see is pretty much what you get.

 

Best Wishes,

 

Thales

5aa70f6230652_11-18-2009FXCMcurrentspreads-Micro.jpg.2b5ba0fa9f821215ccbfe0a163a985ed.jpg

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You know you picked your PT's well when price trades through them (assuring a fill) and then reacts against them, at least temporarily.

 

Both TP's hit, but there may be more gas in the short side tank.

 

Best Wishes,

 

Thales

 

I put up one more target. If it trades through there without reversing, then this might be the start of something big.

 

Best Wishes,

 

Thales

5aa70f6235b0a_11-18-2009EURJPYdoh5.thumb.jpg.260f2ba30bda73230c065dd6016a318f.jpg

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Here are the current spreads at FXCM on the four pairs that my daughter and i typically trade. As you can see, what you see is pretty much what you get.

 

Best Wishes,

 

Thales

 

Thank you.

 

Do you trade off the charts or by entering a price in a box?

 

Gabe

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I put up one more target. If it trades through there without reversing, then this might be the start of something big.

 

Targets are falling like dominos. Let's look for 132.94 and then 132.43-50

 

Best Wishes,

 

Thales

5aa70f623e87a_11-18-2009EURJPY1.thumb.jpg.0dc11a3c067e6d892c4c4cb765c440ba.jpg

Edited by thalestrader

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Where's MidK? Looks like they're running tonight.

 

On nights like this, what are you watching for? Are you looking for price to move down, pick a support level and begin to print signs of movement in the other direction? Or are you watching for levels to be broken, produce a pullback/flip towards that level and going with the temporary direction down?

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Where's MidK? Looks like they're running tonight.

 

:yes sir: G'day - I'm here! Adjusting to the new sleep schedule means I generally won't be starting up till around this time (1500-1600 local time). It's all a bit fragmented right now, but I just woke up from a 3 hour nap. I haven't explored the markets with my eyes yet - but I'll get stuck in now! :yes sir:

 

With kind regards,

MK

 

PS: Don, I agree with Thales - maybe you could expand more what you are meaning with respect to fractals. Thanks in advance.

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