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  #61506  
Old Apr 22, 2010 1:19am
supremeChaos's Avatar
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Hello ertorque,
u may have made a incorrect conversion, time-wise. (in the 3rd link below, it says Australia "most locations.... No DST in 2010")
im not too familiar with it too, since we dont have DST here in my country.

hope these will help enlighten you
http://www.timeanddate.com/
http://www.timeanddate.com/time/aboutdst.html
http://www.timeanddate.com/time/dst2010.html
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Last edited by supremeChaos, Apr 22, 2010 1:29am
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  #61511  
Old Apr 22, 2010 2:26am
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joelcf,
ah, i'm glad (& i was expecting) u stepped in.
Thanks Sir.

EDIT:
joel, i saw your edit.
does it have to take a Patek Philippe to handle this issue hahahah
with that amount ($47K), here u can buy a fairly decent house, a lot &/or a house & lot
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Last edited by supremeChaos, Apr 22, 2010 2:50am
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  #61513  
Old Apr 22, 2010 3:18am
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joelcf,
nyahahah.
that reminds me of the 1980's, of Bioman/Shaider(Japanese hero-villain kid shows)
yes, most stuff here are priced in 'mini/micro lots', relative to the rest of the world.
this is another perk of living here.
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  #61516  
Old Apr 22, 2010 3:32am
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joelcf,
it's the other way around. u are ahead of us by (i think) 2hrs now.


Quote:
The way you guys have it is ideal - sleep in late, hit the gym, lunch, trade London and the LSE, NY and NYSE/CME/NASDAQ, then done working before midnight..
exactly, here we can start trading after lunch.
often, i log out by 9-11pm. im up early around 7-9am checking charts/reading FF.

Quote:
I'm pretty jealous.
yes, u & everyone else should be. heheh
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Last edited by supremeChaos, Apr 22, 2010 4:22am
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  #61518  
Old Apr 22, 2010 3:42am
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ertorque,
thanks for the IBFX heads-up. FXPro closes about 1.5hrs later.
gbpchf has been mentioned at least 2 times earlier.
i was looking at it for about 70miutes now. i was itching to short/touch trade it above 1.6500, but decided to be more patient.

i personally like the location. let's see how it closes.
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  #61541  
Old Apr 22, 2010 6:04am
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nasir,
perhaps the wedge was not that steep.
Great job, still.
(btw, in other brokers, i believe the candle has not closed yet, so u may get a 'replica' of your drawing, lol)
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  #61553  
Old Apr 22, 2010 7:57am
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nasir.khan,
that's 1 of my favorite signatures
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  #61556  
Old Apr 22, 2010 8:39am
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Hello cprao,
it was a BEOB about 4.5hrs ago.... then it turned around
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  #61559  
Old Apr 22, 2010 9:13am
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cprao,
yes it didnt close as a BEOB (FXPro live feed). the turn around happened around 40minutes or so of the H4 bar. the H4 close was similar to your chart (a doji).
apparently, gbpchf still has some 'bullish steam' in it.
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  #61562  
Old Apr 22, 2010 9:37am
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Quote:
Originally Posted by nasir.khan View Post
This is what happened to me.
..
i had a loss too, although not full bar (aggressive entries).
i had 1.6460-70 marked in my chart (as potential minor PPZ), i didnt think it would hold. (price bounced there)
price wants to end the week with a bullish note. let's see
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  #61645  
Old Apr 23, 2010 6:18am
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Default power of higher TF PPZ

an example showing the power of a weekly PPZ.
(dark red bottom horizontal line, 1.3215ish)
eurusd H1 chart
Click image for larger version

Name:	eu h1 weekly ppz power apr232010.gif
Views:	32
Size:	11.6 KB
ID:	463426
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  #61649  
Old Apr 23, 2010 6:58am
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Quote:
Originally Posted by nasir.khan View Post

There is no way out without patience and discipline in this business.
...
.
Tell me about it.
im probably 1 of the most impatient guys around.
my discipline, i can say is below topnotch.

i can go as far as saying the market has (almost literally) put me on my knees:
i cant do it 'my way'; i have to do it the market's way (respect the market, understand, feel & move with the market)

i think these two traits are part of the holy grail of everything in life.

a possible motto out of this is
"only the (most) patient & disciplined shall survive"
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  #61650  
Old Apr 23, 2010 7:01am
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Quote:
Originally Posted by jarroo View Post
...
Where is the Rac-man? He is due for a post or two by now.
im not sure.
he posts when his PM is deactivated.
now his PM is activated, so maybe....
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  #61659  
Old Apr 23, 2010 8:22am
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Quote:
Originally Posted by nasir.khan View Post
That's my problem too.
I am very patient and tolerant person in real life issues.
But when it comes to trading and shopping it's other way around...
But giving up is not an option,...never.
.
i see.
whether trading, shopping, or doing something else, well what we need to do is take charge.

the 'simple' solutions are
-be more picky,
-be more patient,
-be more disciplined,
-reduce your risk.
improve on anyone, or better yet try to improve in all fronts.

personally, i was ultra aggressive (overconfident) & extremely impatient last year (& prior years) leading to overtrading. as i read through this thread & gain more experience, i had no choice but to take charge & reduce my aggressiveness & impatience.
what do we need? increase discipline & patience. be more picky.
that's what i tried.. that's what i did. after all, that's what we needed to do.
in the process, i've avoided/reduced overtrading.
i still commit overtrading, but not like before: i've significantly reduced it. (the key to the reduction is knowledge of & correct drawing of S/R's & PPZs)

i know u already know this. this is the 'simple' route.
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  #61775  
Old Apr 25, 2010 2:47am
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Dan Gilbert,
there are subtle differences though.
-gbpjpy's IPB close is bearish, WK0 (wheat?) IPB close is bullish
-gbpjpy IPB's upper wick is shorter, WK0 IPB's upper wick is much longer
-in connection to the above, gbpjpy's IPB has a high fairly near the prior bar's high. WK0's IPB has its high relatively farther compared to it's prior bar high.

Let's see how it moves.
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  #61778  
Old Apr 25, 2010 4:27am
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that's a good way to look at things, Dan.
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  #61780  
Old Apr 25, 2010 6:39am
supremeChaos's Avatar
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Default 'Look to the left'

For those who havent seen it yet, here is one of Sam Seiden's videos.
http://transcripts.fxstreet.com/2008...le-low-ri.html

u will notice the similarity with james16 method & videos.... after all, we are talking about the same thing: support & resistance.
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  #61803  
Old Apr 25, 2010 9:10pm
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Quote:
.....like stumbling on $500 cash that you forgot you left in an old jacket.
sometimes it feels like it's more than that.
.....
& sometimes it feels like a $?? bill u fortunately saw & picked up on the street.
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  #61805  
Old Apr 25, 2010 9:19pm
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Hey Dan,
why not?
u are one of the 'sponges' here (quick learners).
i believe u will get wherever u wanna go, just keep on keeping on

the journey/destination is in your mind.
so, the limit to your journey/destination lies in your mind as well..
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  #61807  
Old Apr 25, 2010 9:51pm
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4X=0,
cant see much of it, bro.
can u resize it? thanks
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  #61837  
Old Apr 26, 2010 5:07am
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Quote:
Originally Posted by bundyraider View Post
LOL. Call someone a sponge in our neighborhood and you'll end up with a fat lip.
....
sponge as in definition 6 & 7 here, perhaps...
ok, i'll just call the quick learners "Poriferans" instead.
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  #61843  
Old Apr 26, 2010 5:26am
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Quote:
Originally Posted by nasir.khan View Post
Hehee.
....
On the other hand Ej is has gone good. There was this PB (proxy i think)...
.
Hey Nasir,
nice charts.
ej was a touch trade & via limit order, correct?
when was the first trade executed: prior/while the PB (by proxy) formed/was forming, or was it executed on the bearish bar [bar after this PB (by proxy)]?
Thanks!
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  #61849  
Old Apr 26, 2010 6:05am
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Quote:
Originally Posted by Scotty2Cues View Post
Been thinking about what happens when I got stopped out at BE on a couple of trades only to see it rocket off without me.
....
in your idea here (in #2), will u sell at the same spot as your first entry price?

why not open your first trade with 2 positions at the onset instead? (1st position is put to BE quickly, the remaining position's SL remains intact or is slightly reduced)

also, how small is "small SL"? u should understand that often, prior/after a trade setup (A+ or not) is activated/executed, price retraces into the setup. in your chart's case, there was a minor retrace before price shot down. your "small SL" may or may not be hit in the process.

imho, once PPZ or S/R identification improves, trade management improves too/'gets easier'.
i hope this helps
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  #61853  
Old Apr 26, 2010 6:31am
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Hey Scotty,
i looked back the usdcad H1 chart. (i personally consult higher/lower timeframes when i trade)
did u enter at/below the pin around 1.0124-0134?
imho u put your SL to BE very quickly. (price hit/breached your entry price twice in the H1 chart).
i have no charts but notice the quick reversal of price when it reached your entry area (H1 chart). to me this means, price is quite bearish(imho, this is key) & stop hunting(?). eventually i learned that there was news, so to me this (news) was the reason price stalled prior the 1.0100... before diving down.

if u have 2 positions open at that time, u could've exited 1/2 at/prior 1.0100. remaining position SL can stay intact (in this case, above the pin) or reduced (trader discretion), to take advantage of possible price run/trend.
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  #61856  
Old Apr 26, 2010 6:34am
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Quote:
Originally Posted by Scotty2Cues View Post
...
lol maybe I should forget this for now until i have more experience
just saw your post...
that is an alternative. but it's all up to u
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  #61862  
Old Apr 26, 2010 7:46am
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advfntrader,
good to hear that Sir.
Keep it up
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  #61873  
Old Apr 26, 2010 9:14am
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Quote:
Originally Posted by HanSolo View Post
I guess... This thread is simply moving to fast.
...
Do you consider the pattern on daily EURCAD to be a viable short TBL? Or is it too risky because of probable stop hunting at this all-time low?
.....
yes it does move fast at times.

just a quick reply: (just lookign at your chart)
TBL? how many pips difference on the lows?
what is the trend?
that TBL seem to be above a round number. if so, u are trading into a possible support.
a viable short maybe below the round number.
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  #61874  
Old Apr 26, 2010 9:18am
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Quote:
Originally Posted by Daneel View Post
I'm new....
So, my question, what weight should I assign to the various factors?
My impression is that PA, SR and trends are the most important.....
u have an excellent idea of what is important.
the rest on the list are derivatives of price, so u can use them & place weight on them for yourself (personal taste).

about pins, the right eye is the current price. sometimes the right eye is the bar/candle where price moves in your favor. sometimes the right eye is a bar that stall/ranges/retraces into the pin (or any other trade setup we trade here, for that matter) before price eventually goes in your favor.

Hope this helps a bit.
& Welcome!
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  #61877  
Old Apr 26, 2010 9:31am
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HanSolo,
it may or may not work...
it may or may not be viable --- it's trader dependent.
personally, 20-36pips is ok for me, specially if i see a high probability in that trade setup.
btw, the more matching lows (3-bar lows, 4-bar lows, etc), the potential for a explosive breakout increases.
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  #62095  
Old Apr 28, 2010 2:23am
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Quote:
Originally Posted by raczekfx View Post
who would've guessed, such a small pin would....
.
one of those crappy pin bars.
Nice trades.
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  #62096  
Old Apr 28, 2010 2:31am
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Quote:
Originally Posted by Dan Gilbert View Post
interesting trade RAC, ballsy to say the least. the 11,100 ex-resistance wasn't enough to scare you away?
i checked Dow.
well, on H1 chart, on the way down, price sliced through 11,100 the first time it touched it. then came back to it, then continued its drop.
besides, imho, its due for a relatively big move given its relentless upmove since Feb2010.
Let's see if this snowballs price towards 10,000.
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  #62098  
Old Apr 28, 2010 2:51am
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Quote:
Originally Posted by An_Lie88 View Post
hello...
Welcome, in behalf of all!
Keep reading... learning is fun
dont forget to update yourself of what's happening in real time by reading the current posts too.

Good luck!
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