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  • #161
  • Feb 14, 2017 9:10am Feb 14, 2017 9:10am
Quoting Chau1985
{quote} I took profit at 1228 thanks to a stoploss. I did the same trade again when it touched 1229.7 again and got out with a small profit. EDIT: again it bounced off at 1234 where I could take some profit. So my question now is, is the 1229.7 now becoming a resistance? Now it also comes to 1234, will there new sword lines evolve?
10mins ago, it was still a support but now a resistance
hmmm i don't think so as you can see i am still using those lines i posted before
  • #162
  • Feb 14, 2017 7:48pm Feb 14, 2017 7:48pm
Quoting 90strader
{quote} 10mins ago, it was still a support but now a resistance hmmm i don't think so as you can see i am still using those lines i posted before
I understand that the resistance/support lines changes frequently, so it actually depends on the situation. As I understand you use other pairs like USD/JPY to trade in short term, while on longer term you are expecting a USD weakness.

At the moment I place all buy limits for the sword lines below 1229.7 (major resistance) and with SL at 1220.3. But I am not sure what to do for the sword lines above 1229.7.
  • #163
  • Feb 14, 2017 9:32pm Feb 14, 2017 9:32pm
whats your secret for these kind of returns ? You continue in this pace you will b able to afford your house in HK in just a year lol. But in all seriousness how much risk do you take on each trade? Do you have a specified R/R? For me it seems incredible to have 600% increase just this year alone im jeleous ha!
  • #164
  • Feb 15, 2017 1:22am Feb 15, 2017 1:22am
Quoting B00bies
whats your secret for these kind of returns ? You continue in this pace you will b able to afford your house in HK in just a year lol. But in all seriousness how much risk do you take on each trade? Do you have a specified R/R? For me it seems incredible to have 600% increase just this year alone im jeleous ha!
It starts by not spending too much time on boobies.

Jokes aside, I think his secret of success may down to him focusing on trading what he knows best. Last time he used to trade a number of currencies pairing and with great lots.
  • #165
  • Feb 15, 2017 4:47am Feb 15, 2017 4:47am
May look some downsized 
Daily down 
Weekly down.
 
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2017-02-15-15-43-20.png Size: 118 KB
Trade fearless not careless...
  • #166
  • Feb 15, 2017 6:47am Feb 15, 2017 6:47am
Quoting Chau1985
{quote} I understand that the resistance/support lines changes frequently, so it actually depends on the situation. As I understand you use other pairs like USD/JPY to trade in short term, while on longer term you are expecting a USD weakness. At the moment I place all buy limits for the sword lines below 1229.7 (major resistance) and with SL at 1220.3. But I am not sure what to do for the sword lines above 1229.7.
No, they don't change much actually, the only change is whether they are currently support or resistance

Not a good idea to do so, you should not aimlessly to place all the pending orders on the sword-lines
sometimes you should feel that some lines are quite weak as a resistance/support at that time
for example, if you placed buy limit this early morning at 1227.6, then this position is in red pips whole day.
and i don't use SL in most of the time, i would prefer do it manually
for example, as 1220.3 is a major support now, the price may really hit 1220.3 before rebound.
so i would only SL when i think the breakthrough is confirmed
  • #167
  • Feb 15, 2017 6:55am Feb 15, 2017 6:55am
Quoting B00bies
whats your secret for these kind of returns ? You continue in this pace you will b able to afford your house in HK in just a year lol. But in all seriousness how much risk do you take on each trade? Do you have a specified R/R? For me it seems incredible to have 600% increase just this year alone im jeleous ha!
No i don't have a specific R/R. And i think my trades are much more conservative when comparing to last 2 months.
Probably is because my balance is much larger then day 1....
so i don't think it is easy to keep the pace i had in last 2 months
this is also one of my upsets right now and i must find a way out

Quoting FxLapozi
{quote} It starts by not spending too much time on boobies. Jokes aside, I think his secret of success may down to him focusing on trading what he knows best. Last time he used to trade a number of currencies pairing and with great lots.
that's true, i only focus on trading what i know the best, and i don't think trading with dozens of pairs will make things easier
  • #168
  • Feb 15, 2017 7:52am Feb 15, 2017 7:52am
Hi im studying forex/ Options for over a year now checking strategies, EA and false promises and fluke traders.
Let me give my congrats to you, cause you seem to be in the right track and making money with consistency.
Im still loking a way to do that myself.
Besisdes making money you seem a real person with real toughts and real problems(just one of us, not a super trader).

Quote
No i don't have a specific R/R. And i think my trades are much more conservative when comparing to last 2 months.
Probably is because my balance is much larger then day 1....
so i don't think it is easy to keep the pace i had in last 2 months
this is also one of my upsets right now and i must find a way out

IN this problem the only thing i can say is use proper bankrool manegement and you will Habituate to doing trade with large summs without risking too much
Keep the gj im tinking to do a group in the app Discord maibe you interested in become one of the regulars.
  • #169
  • Feb 15, 2017 8:19am Feb 15, 2017 8:19am
so strange that i have no motivation to add on losing trade this time
am i becoming too conservative now?

1209.9
1212.3
1214.7
1216.7 (i cannot explain why they are so accurate)
1220.3 (important s/r)
1223.6
1225.8/1227.6
1229.7 (important resistance)
1234.0
  • #170
  • Feb 15, 2017 10:25am Feb 15, 2017 10:25am
Quoting 90strader
{quote} No, they don't change much actually, the only change is whether they are currently support or resistance Not a good idea to do so, you should not aimlessly to place all the pending orders on the sword-lines sometimes you should feel that some lines are quite weak as a resistance/support at that time for example, if you placed buy limit this early morning at 1227.6, then this position is in red pips whole day. and i don't use SL in most of the time, i would prefer do it manually for example, as 1220.3 is a major support now, the...
You are totally correct as I did buy 1227.6 and it was in red pips whole day. The only difficult thing is to guess whether the market is going down or up. If I didn't put a SL today I would end in profit due to the buy limits I have set up. The thing is that the market was very volatile at the same time I was not able to pay attention to the market.

I still have a little bit trouble to read the market. If I am not using stop losses there is a possibility I would make huge losses
  • #171
  • Feb 15, 2017 10:54am Feb 15, 2017 10:54am
Quoting Chau1985
{quote} You are totally correct as I did buy 1227.6 and it was in red pips whole day. The only difficult thing is to guess whether the market is going down or up. If I didn't put a SL today I would end in profit due to the buy limits I have set up. The thing is that the market was very volatile at the same time I was not able to pay attention to the market. I still have a little bit trouble to read the market. If I am not using stop losses there is a possibility I would make huge losses
yes, you are right, that's the most important point.
Those lines are just horizontal lines, they won't give you directions, they only provide the ground for you to fight and defense
So we need other things to determine directions

I don't mind if the market is very volatile, i actually want the market to be volatile.
imagine if the market move like this morning every day and night

About SL, i think you need to think about how much you can risk before entering first position
for example, i hold the long position @1225.8 for whole day, even the price went down to 1216.7, i just suffer about 2-3% loss (which is defintely OK for me)
If i was confident enough, i can still have lots of capital to add more long positions downs there
But of course, you have to be very confident that in the end, it will move as you think.
i am not saying that you should not SL, i think SL is needed especially if you are using large leverage.
  • #172
  • Feb 15, 2017 11:14am Feb 15, 2017 11:14am
it's actually 1am here in Hong Kong now
i am quite tired and i am going to sleep soon
all i want to say is we can be very positive if it can breakthrough 1234 and stay up there (very positive i mean aiming at 1250 level)
1234 is the level that it tested few times in the last few days but could't hold
Good night and good luck

1225.8/1227.6
1229.7
1231.4
1234
1236.7
1238.9
1240.9
1242.7
...
1253.5
  • #173
  • Feb 15, 2017 1:26pm Feb 15, 2017 1:26pm
Very thanks 90strader for your teaching. There is a resistance at 1231.85
  • #174
  • Feb 15, 2017 5:49pm Feb 15, 2017 5:49pm
I tried to demo trade with a small account as that is what I can use for trading if I will go live one day.

with a us$500 account I use a leverage of 500 and using lots of 0.1. How did you manage when you started with low capital?

I'm trying to figure out if I can use volume profile to predict the lines and direction. No success until so far
  • #175
  • Feb 15, 2017 7:07pm Feb 15, 2017 7:07pm
Quoting 90strader
it's actually 1am here in Hong Kong now i am quite tired and i am going to sleep soon all i want to say is we can be very positive if it can breakthrough 1234 and stay up there (very positive i mean aiming at 1250 level) 1234 is the level that it tested few times in the last few days but could't hold Good night and good luck 1225.8/1227.6 1229.7 1231.4 1234 1236.7 1238.9 1240.9 1242.7 ... 1253.5
So now we are in crucial moment, 1234 is important to keep
I will consider to close some positions if it cannot hold above this level again
i will be very busy this morning, so good luck all
  • #176
  • Feb 16, 2017 2:22am Feb 16, 2017 2:22am
1236.7 tested few times already, but still cannot breakthrough
hmmmm not a good sign
  • #177
  • Feb 16, 2017 2:57am Feb 16, 2017 2:57am
Quoting 90strader
1236.7 tested few times already, but still cannot breakthrough hmmmm not a good sign
Headed to 40x then some correction for unemployment claim...
Trade fearless not careless...
  • #178
  • Feb 16, 2017 3:06am Feb 16, 2017 3:06am
Quoting mohsinali
{quote} Headed to 40x then some correction for unemployment claim...
maybe no correction as unemployment claim's result is bad
and i think it is quite possible tonight
  • #179
  • Feb 16, 2017 5:00am Feb 16, 2017 5:00am
Hi 90strader are you saying we could see 1240 very soon ?
  • #180
  • Edited 7:35am Feb 16, 2017 5:57am | Edited 7:35am
Quoting montego
Hi 90strader are you saying we could see 1240 very soon ?
i cannot guarantee

if you are holding long from 1220 level, just wait and see, and pick an SL on one of the sword-line in case of something go bad
if you are not holding long from below, not recommended to add now
it's too risky given the unemployment claim data is coming soon

but as i said last night, if 1234 is safe, this wave we should target on 1250 level

1225.8/1227.6
1229.7
1231.4
1234
1236.7
1238.9 (we stuck here)
1240.9
1242.7
1244.8 (last high)
...
1253.5

EDIT:
USDJPY:
113.87
113.60
113.15
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