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  • #6,281
  • Apr 8, 2014 4:48am Apr 8, 2014 4:48am
Quoting samalmoore
{quote} Very interesting, are those stats for candles on the 4H?
Yes 4 hr and daily!
  • #6,282
  • Apr 8, 2014 4:50am Apr 8, 2014 4:50am
Quoting waleed.khan
{quote} Yes 4 hr and daily!
Sma100 and sma300 are around this area too..if it forms a long upward tailed bar, we can quite safely add short..maybe
  • #6,283
  • Apr 8, 2014 4:51am Apr 8, 2014 4:51am
Quoting waleed.khan
{quote} Yes 4 hr and daily!
Good to know! Thanks
  • #6,284
  • Apr 8, 2014 4:55am Apr 8, 2014 4:55am
Quoting samalmoore
Anyone trade GBPUSD??? My ideas on that one... Buy: Now SL: 1655 TP: 1675 {image}

Did you?
  • #6,285
  • Apr 8, 2014 4:56am Apr 8, 2014 4:56am
Quoting Polaris4dy
{quote} Sma100 and sma300 are around this area too..if it forms a long upward tailed bar, we can quite safely add short..maybe
I would say...but i usually would't short when Pa is above 50 ema; i would rather take profits off my long and wait for the lower trendline for a buy..but thats just me.
  • #6,286
  • Apr 8, 2014 4:57am Apr 8, 2014 4:57am
Quoting Monkeybuss
{quote} Did you?
I did pulled out a bit early though but still made a tidy profit
  • #6,287
  • Apr 8, 2014 4:57am Apr 8, 2014 4:57am
Quoting waleed.khan
{quote} I would say...but i usually would't short when Pa is above 50 ema; i would rather take profits off my long and wait for the lower trendline for a buy..but thats just me.
Plus tensions b/w us russia and ukr have started again...on the news...I really think this will add to the bull run...
  • #6,288
  • Apr 8, 2014 4:59am Apr 8, 2014 4:59am
Quoting samalmoore
{quote} Good to know! Thanks
you are welcome!
  • #6,289
  • Apr 8, 2014 5:01am Apr 8, 2014 5:01am
Quoting Polaris4dy
{quote} Sma100 and sma300 are around this area too..if it forms a long upward tailed bar, we can quite safely add short..maybe
Don't know bro, usually the NY session follows up on the trend, I would wait with the short.
  • #6,290
  • Apr 8, 2014 5:01am Apr 8, 2014 5:01am
Quoting waleed.khan
{quote} Plus tensions b/w us russia and ukr have started again...on the news...I really think this will add to the bull run...
I would try not to read any news about russia for now...lost 60% of my account on that one last time...but yeah, I'll be cautious with short
  • #6,291
  • Apr 8, 2014 5:02am Apr 8, 2014 5:02am
Quoting Monkeybuss
{quote} Don't know bro, usually the NY session follows up on the trend, I would wait with the short.
Yeah I noticed that too.,,usually asian session is quite flat...europe and us session determine the direction...I put sell limit though..don. short now
  • #6,292
  • Apr 8, 2014 5:05am Apr 8, 2014 5:05am
Quoting Polaris4dy
{quote} I would try not to read any news about russia for now...lost 60% of my account on that one last time...but yeah, I'll be cautious with short
The news sounds bad....whenever there is panic stay in gold! Yes I would only short when the lower trendline gets broken...

60% of your account..was this in the end of feb; the gap up on the daily chart?
  • #6,293
  • Apr 8, 2014 5:07am Apr 8, 2014 5:07am
according to my chart ill start selling gold so slow and with very small lots
Attached Image (click to enlarge)
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Senior Trader Multi-Account Manager
  • #6,294
  • Apr 8, 2014 5:10am Apr 8, 2014 5:10am
Quoting waleed.khan
{quote} The news sounds bad....whenever there is panic stay in gold! Yes I would only short when the lower trendline gets broken... 60% of your account..was this in the end of feb; the gap up on the daily chart?
No, it was when gold went up to 1388x...i put a buy limit thinking it will retrace and up at 1374...keep adding buy all the way to 1360...till a quite high leverage...saved the remaining 40% of my account by closing long at 1340...bloody painful...The problem with news is, all these writers can write and make it sounds logical AFTER the price move..For example, had the gold price went up last time, they'll say "investors holding gold amid tension in ukraine blablabla"...Had it went down they'll say "gold price drops as tension ease"...Then I decided not to trust the bull**** they sell anymore
  • #6,295
  • Apr 8, 2014 5:11am Apr 8, 2014 5:11am
Sorry to mention again, but good RR trade with tight(ish) stoploss:

Sell GBPJPY: Now (171.41)
SL: 171.61
TP: 169.9
  • #6,296
  • Apr 8, 2014 5:14am Apr 8, 2014 5:14am
Quoting Polaris4dy
{quote} No, it was when gold went up to 1388x...i put a buy limit thinking it will retrace and up at 1374...keep adding buy all the way to 1360...till a quite high leverage...saved the remaining 40% of my account by closing long at 1340...bloody painful...The problem with news is, all these writers can write and make it sounds logical AFTER the price move..For example, had the gold price went up last time, they'll say "investors holding gold amid tension in ukraine blablabla"...Had it went down they'll say "gold price drops as tension ease"...Then...
Have you closed all of your longs from the 137x area already?
  • #6,297
  • Apr 8, 2014 5:14am Apr 8, 2014 5:14am
Quoting Polaris4dy
{quote} No, it was when gold went up to 1388x...i put a buy limit thinking it will retrace and up at 1374...keep adding buy all the way to 1360...till a quite high leverage...saved the remaining 40% of my account by closing long at 1340...bloody painful...The problem with news is, all these writers can write and make it sounds logical AFTER the price move..For example, had the gold price went up last time, they'll say "investors holding gold amid tension in ukraine blablabla"...Had it went down they'll say "gold price drops as tension ease"...Then...
hmm.. 40% is a lot on a particular trade...2 to 5% rule is reasonable!

And yes you are right about how newsmakers change their opinion...news/opinions is a lagging indicator but news about action/riots/war should be taken seriously...! take it from nature it only takes a little predator to get an entire stampede started...
  • #6,298
  • Apr 8, 2014 5:17am Apr 8, 2014 5:17am
Quoting kimzui
{quote} Have you closed all of your longs from the 137x area already?
Of course, closed at 1340...otherwise I would have blown up my account at 132x...Lesson: do not be too fickle nor persistent when holding a position
  • #6,299
  • Apr 8, 2014 5:17am Apr 8, 2014 5:17am
For more bullish, the good Sup is around 1307-1311, consolidate there. We could see the run +25$ a day.
  • #6,300
  • Apr 8, 2014 5:20am Apr 8, 2014 5:20am
Quoting waleed.khan
{quote} hmm.. 40% is a lot on a particular trade...2 to 5% rule is reasonable! And yes you are right about how newsmakers change their opinion...news/opinions is a lagging indicator but news about action/riots/war should be taken seriously...! take it from nature it only takes a little predator to get an entire stampede started...
That's true..if a war breakouts no one will try to hold their short...hahaYes, on normal trade i risk max 5% of account per position...always start with leverage around 1:5...sometimes add to my loss a bit..but not much
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