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"Just Oil"

minosd777
Jul 23 2012 at 09:36
44 posts
A lot of EUR negative news this weekend, but my experience tells me that when the news gets to negative a reversal is close...so i don't trust the fx this week..my EUR/CAD sl is on be so I don't risk anything..

Beware of big reversals in EUR/$, I wouldn't be surprised to see a lot of profit taking and a big short squeeze very soon, altough we all hope it will get to 1.18-1.15 before that happens ;)
Chikot
Jul 23 2012 at 12:56
2299 posts
Hi Mino, eur/cad is one of a few trades that I did nt take unfortunately when signal happened. I take them all now. so far the trend is going so I am going to stay with it as long as it lasts. Profit taking is of no importance I am ready to stay in trades even if they go to 0 pips as long as trend is still in the same direction. so far not so bad. looking for few more pairs to take trades.
minosd777
Jul 23 2012 at 13:51
44 posts
You use a cross of the 7 and 21 EMAs on the Daily chart to identify a signal?

Honestly I dont know what to do now, one part of me sees the EUR disaster but the other part tells me that a short sqeeze is comming before the end of the week..this translated into taking partly profits on the EUR/CAD and selling the EUR/$ at 1.2085 (too low I know) and than selling back the EUR/CAD :p...the $/CAD is in a downward channel and will soon hit the above resistance line so that will be the moment to add to a EUR/CAD SHORT

Chikot
Jul 23 2012 at 16:41
2299 posts
It is EMA 25 and 7. You simply trade medium term hence you are right for your time frame, but I trade longer term hence I should stay put. Weekly , monthly results do not matter., my goal is to get on big trends and run them and collect working tardes. actually had not I closed so much of my older positions I would have had a lot of floating equity.,enough to cover losses and for some profit. lesson learned
Chikot
Jul 23 2012 at 16:42
2299 posts
was right about gbp/usd and aud/jpy/. reversals most probably
Chikot
Jul 23 2012 at 23:04
2299 posts
I am eyeing 4 more trades.
stevewalker
stevewalker
Jul 23 2012 at 23:15
1439 posts
Chikot
give a try to following ( demo )

1000 pip TP
500 pip SL
fix. dont chage. dont close manually no matter what.

EU daily or 4Hr chart.

************( entry algo is your deseciopn )
open when you see a trend long min lot. set tp sl & forget.
open when you see a trend short min lot. set tp sl & forget.

open as much as you see a trend. do never think if it will be the end of the trend or what ever. just open.

I promise you it will make profit.
not may be constant income like monthly but yearly will make huge.

Chikot
Jul 23 2012 at 23:57
2299 posts
Interesting idea. you use 2:1 R:R but over very long term. what's you money management for this system? what's risk per trade?
stevewalker
stevewalker
Jul 24 2012 at 00:05
1439 posts
0.01 for each trade no change. no MM. fix.
everthing is fix.
no close before sl
no close before tp

trader will make desecion only when entering the trade.

always the same desecion according to your plan.

open & forget.

stevewalker
stevewalker
Jul 24 2012 at 00:07
1439 posts
no limit for order number. when you see a long trend you will open long. and vice verse.

stevewalker
stevewalker
Jul 24 2012 at 00:08
1439 posts
no reverse trade at all!
Chikot
Jul 24 2012 at 00:13
2299 posts
there are simple profitable strategies but they require discipline and they are slow.
Chikot
Jul 24 2012 at 00:53
2299 posts
Chikot
Jul 24 2012 at 00:54
2299 posts
watching 3 more pairs. will check when get up at night.
Chikot
Jul 24 2012 at 06:49
2299 posts
short aud/jpy now too.
Chikot
Jul 24 2012 at 07:34
2299 posts

one BE and one 2:1 r:r now most probably we are going to test at least yesterday's lows. I am done though. do not like these big candles.

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Chikot
Jul 24 2012 at 07:57
2299 posts
running 10+% floating balance. had not closed partials would have been 30% most probably. even on live account where I do not have earlier opened trades to compensate for whipsaw losers already floating balance equal to total losers. of course I am not looking for equal. i am looking to hit pay dirt. I guess this kind of trading cannot be assessed upon weekly/monthly balances. it is longer term. the most important for investors to know that trader takes all signals, cut losers and let profits run to let probabilities assert themselves. I am trying to grew reversed fat tail. Opposite from what practically every strategy running here does. good looking balance and trades that are deep in red. looks like other 2 pairs I am watching cannot be traded now. gbp/usd too far gone. risk is big. I wouold sell at better price to have risk smaller. gbp/nzd no signal yet and might be reversing to original trend. so this is all for now. let's see how new 5 trades will perform. so far I am not moving stops.
Chikot
Jul 24 2012 at 08:03
2299 posts
minosd777
Jul 24 2012 at 09:36
44 posts
I am looking for a reversal on the GBP/Yen to retest the previous supportline which is now resistance, I opened a short on the EUR/AUD again ( I love to trade the AUD and the cross pairs!!) , but not too big, EUR/Cad took some profit and opened again, EUr/$ short for longer term will add to this one, my trading was very sloppy yesterday, that's what happens when you sit all day before your computer :D
Chikot
Jul 24 2012 at 15:14
2299 posts
Oh man, you must be on your toes 😉 I hope consolidation is over and all these levels will break in my direction 😎
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