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What you guys got in play today?
Was thinking of taking a short also on NU. It will probably be a nice trade but it just not the type of set up I'm looking for.
I'm about 6 weeks ahead of schedule right now as per the outline I've talked about earlier. This means I will take on less risk and don't have to force anything. I will look for a great opportunity this week and then I'll jump.
Hope you guys had a great weekend!
I just looked at it and I see the Tech Tool show a long at 70% probability. I just let it go as I just don't like it just yet.
Basics are described here:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=110301129
I think I have a horseshoe up my butt. I took a NU long last night. Was thinking about it for hours and decided to close it about 1AM Eastern time. Got 40 pips total. I closed it because I kept asking myself why was I risking the hard work I just did for the week.
I just looked now and see that NU fell like a stone shortly after that! Whew
Have a great weekend
They are fun!!! I wish I could just trade NU and AU pairs exclusively but alas, the Forex Gods do not allow such reindeer games to be played.
NU and NJ
I'm a quicker learner as it only took 2 whole years of losing my ash to get a grasp of this... hahahahaha
WoooooHoooooooo!
Just hit a double for the year. Doubled our portfolio in a little over a month. This "system" is working fantastic and I may be ready to add more capital soon. Let's give it a whole quarter before I give it the BocaBobby Blessing. LOL
Closed our long on the beast early this morning for about 95 pips. Had a tremendous week! What started off with no visible good trades turned into a +30% week! Funny thing is, I'm upset that I closed my GJ long before it hit the target. We left about 30 pips on the table.
Looking at a UJ short right now but might just sit on my hands until Sunday night when the new week starts.
When I'm so far up for the week, I'm good with just taking 10 pips here or 10 pips there.
I used to worry about the # of units. A LOT. But then I just figured - Who cares? A win is a win is a win. They all add up in the weekly totals. I try to concentrate on the winning trades so I can get my 7% per week and those units tend to take care of themselves.....
Just my 2 pips worth....
I'm out as well! LOL
Looking at the beast for a long here. It still hasn't hit it's target on the tech tool....
UJ just showed up on the Tech Tool for a short to 116.82 with a 78% probability....
I took a small short on UJ but I might have to double up when I see the TDI on the M15 or M5 charts get overbought....
It might be an over-reaction, imo. Euro is way oversold, imo. Lots of opportunities coming with the Euro and Kiwi. Keep the powder dry. lol
Put on a very small short on UJ. Then set a 25 pip trailing stop. Let's see where this takes me..... lol
That very same inverted head-n-shoulders is now looking like a regular head-n-shoulders pattern on the H1 chart.
Who knew?
LOL. Been there many times myself. I'm actually watching the M1 GJ chart hoping for it to come back to 178.50. But you're post made me laugh at myself and I'll probably just shut it down for the night. I'm already up 16% for the week.
Being greedy always causes me pain! LOL
But my M5 and M15 charts are a bit hot right now. Might need to wait before I enter..... The beast might be ready soon.....
Sure do. Thanks for the heads up....
Made few shiny coins on longs with both AJ & GJ. How you guys hang'n?
Hang on to your hats for AUD in a few minutes....
Just a couple of minor plays so far. Been difficult to find anything that stands out so far. What do you guys see?
Ahhhhh, I missed the scheduled news event by the Canadians. Their GDP was scheduled for 8:30 am today. My trade should have never went down. I broke my own rule and paid again.
Canadian Dollar hits the toilet but the Aussie Dollar stays basically the same or a little weaker. Have a great day guys and a better weekend.
Nope. We got stopped out. Oh well. We'll get 'em next time....
Sounds great! I like it when other customize it. Whatever makes you most comfortable and still pays. Grab dem Pips!
Have a great night
Watch you TDI also on the H4 chart. You have the trendline on it nicely. It's still telling us that the true direction longer term will be down, imo. While the H4 shows a possible upside I suspect it won't be long lived. And take a peek where your next support area is. Damn near where I have my TP set.
One thing is true. It's either gonna go up or down..... LOL
Did you set your TP @ .99? Where's your stop?
It may go to .99 first and that's why I said I may be a bit early. But if it does then I'm stopped out. Remember that this system is not 100%.
I used the Technical Tool for the choice of pairs but my eventual entry was based on the M15 chart.
- Bumping it's head on the tunnel.
- Kiss Method described by our good friend Pennies2007
- TDI is overbought and we should see a correction over the next 24 hours or so.
The "System" is described here: The System
Going with AUD/CAD short tonight. TP=.9680 SL=.9870
I'm probably early again..... lol
Good to keep a close eye on it. But I have the feeling we are going down to the .64 range before we see any kind of reversal start. I think it may even go down to the .50 that you spoke of. But at that point you could probably take a real nice position and just sit on it until late 2016 or early 2017!
AUD just broke the .618 fibs on the monthly. So it could see .6850 or so which was support a long time ago (Feb 2004).
Just an FYI for folks also. I NEVER take a position on Friday. If I have a position from Thursday that needs to be held over the weekend then so be it. But nothing new should be taken. There is just too much uncertainty over the weekend....
Great news! Stay small with it for a month or so. Get a good feel for it and raise the stakes a little bit. I also agree about the less stress part as well. But remember, it's not 100% so don't get greedy.
Might just have to throw 3K-5K units at it to the short side and just sit on it till the Fall. LOL
Another thing I love with the TDI is looking for positive or negative divergence. Look at my previous post about this. A remember that the 3rd time is a charm.
1.) The RSI line will it an extreme low point. Look at where the Price is.
2.) The RSI will go up and then fall again to set another low point. But this low point is higher than the previous low point. Look at the Price. Is the price lower than the last time we set a low on the TDI? If so draw a trendline on the 2 low points of the RSI.
3.) WAIT FOR IT! Just watch the RSI. It will rise and then look to test your trendline. When it does you enter to the long side!
I do this on my M5 charts for the entry. It gives us the best chance of success.
The TDI is basically the same as RSI but it also gives you a "strength" indicator which they call the market base line. When you can see the RSI line over extended as well as the market baseline approaching extremes to the upside or downside, we are ready for a move.
Currently we see the NU daily showing the RSI as oversold but the market base line is still rather neutral. So we may still have more downside as this is the dominate trend right now.
This brings up a great point. If the trend of a pair is to the downside and the Tech tool gives us a play with +73% probability of that same pair to the downside, ITS A SLAM DUNK! On these set ups I go even more aggressive on my entry as long as the other rules are still in place.
The hard part about this system is setting realistic targets and stops. Just like our UJ play from yesterday. It still might hit our first TP set but when it went the wrong way on us and I added to my position, the current price level gave me a nice gainer over all.
Just don't be greedy and you can watch the portfolio move in the right direction. After losing my ass for about 2 years we have a lot of ground to make up. It ain't gonna happen with just one trade!
The only attractive % probability plays that came up are USD/ZAR & GBP/ZAR. Not gonna touch 'em simply because they are not what I consider "regular pairs". Now we have a whole hour to ourself! lol
Waiting for Noon (Eastern Time) to scan the Tech tool again. I try to take a peek at each top of the hour....
Yes, came up with a 78% probability. But you notice that my TP is rather small. This was just a quick hitter type. I played just a small amount because our weekly goal has been met.
I set a 7% weekly goal. Once I meet it, I lower my expectations considerably. I'll take little 5 or 10 pip gains if needed. This system is all about looking for our best chance at getting winning trades. We may not get the 100+ pip winners like some folks but I'll take the smaller winners and inch my way up.
I'm already out of the NU short. It's dropping like a stone now but I'll just look for my next play.