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Rsi Breakout
Oct 21, 2009 at 19:25
(editado Oct 21, 2009 at 19:26)
just closed the other long position and looking to re-enter.
today has been a trending day to say the least! i don't expect the eur to stop climbing up so i'm biased towards the long side.
looking back on my trades, i'm considering to stop using the rsi as i don't really need it. looks like trading on pure price action is better. we'll see on my next trades.
today has been a trending day to say the least! i don't expect the eur to stop climbing up so i'm biased towards the long side.
looking back on my trades, i'm considering to stop using the rsi as i don't really need it. looks like trading on pure price action is better. we'll see on my next trades.
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Sleep is for the weak.
Oct 21, 2009 at 19:29
to those wondering why i'm not connecting my account to show the actual trades - i do trade it on a real account, however i trade several more systems so it wouldn't show the true results for this system.
i do however post the trade setups before they happen, so you should be able to watch the trades live.
i do however post the trade setups before they happen, so you should be able to watch the trades live.
Sleep is for the weak.
Oct 27, 2009 at 10:05
(editado Oct 27, 2009 at 10:06)
i'm sure no one expected this quick movement.. i started looking at the charts for support and what do you know? after zooming out to the daily, i found what i was looking for:
sl almost hit. it may still go downwards, but as we all know the safest bet is going with the trend, so i'm still biased long side.
as to the gbpusd setup - looks like it breaking up as it is already breaking the narrow downward channel.
i believe that once the pound will break upside, the eur will follow.
i'll wait and see as usual. 😐
sl almost hit. it may still go downwards, but as we all know the safest bet is going with the trend, so i'm still biased long side.
as to the gbpusd setup - looks like it breaking up as it is already breaking the narrow downward channel.
i believe that once the pound will break upside, the eur will follow.
i'll wait and see as usual. 😐
Archivos adjuntos:
Sleep is for the weak.
Oct 31, 2009 at 01:31
Wonderful stuff...Finally, someone with the balls to post what he is REALLY trading as he is doing it weather it goes the right way or not...I'm so tired of seeing "Pros" backtrace on charts from a week ago to show you how to do something.....
GREAT STUFF...
I'm like a sponge...Call me Bob
GREAT STUFF...
I'm like a sponge...Call me Bob
When a man looks in to the Abyss.....You know the rest......
Nov 01, 2009 at 19:08
Respect, that is trading, i see a lot of strategies at forums, but this is that what we need.And nobody can made robot for this strategy, i am sure. If you want to make a real money you must work hard.Rull no 1.
Plan your trade, trade your plan!
Nov 01, 2009 at 19:41
(editado Nov 01, 2009 at 19:54)
thanks guys, i'm glad you can make some use if it!
Bob - i agree with you, i really hate it when someone making claims he is making pips all day long with no hard proof of it. i do try to explain the market as i see it and do it before the trade actually happens.
tinohrid - you're correct, this type of methodology cannot be programmed into an ea.
i've been away for a couple of days and need some time to catch up with the market and see what i've missed. will update as soon as possible.
Bob - i agree with you, i really hate it when someone making claims he is making pips all day long with no hard proof of it. i do try to explain the market as i see it and do it before the trade actually happens.
tinohrid - you're correct, this type of methodology cannot be programmed into an ea.
i've been away for a couple of days and need some time to catch up with the market and see what i've missed. will update as soon as possible.
Sleep is for the weak.
Nov 01, 2009 at 20:05
ok, here's a quick view on the gbp/usd position:
should have closed half position when the resistance was hit, but as said previously i was away for a couple of days so was unable to do so.
as you can see, price is coiling around the resistance, which signs the channel is not broken yet. stop loss should be just below the last low of the channel which is around 1.6230
should have closed half position when the resistance was hit, but as said previously i was away for a couple of days so was unable to do so.
as you can see, price is coiling around the resistance, which signs the channel is not broken yet. stop loss should be just below the last low of the channel which is around 1.6230
Archivos adjuntos:
Sleep is for the weak.
Nov 01, 2009 at 20:21
(editado Nov 01, 2009 at 20:22)
and here's the eurusd position:
we did in fact had a bounced off of the support as i've predicted on earlier posts (for about 130 pips), but the price didn't go up and created a minor channel. now it could go both ways - up or down. i'm still biased towards the up side as it is still the trend and will hold my long position.
if the price will continue down, then i will start looking for a short entry.
we did in fact had a bounced off of the support as i've predicted on earlier posts (for about 130 pips), but the price didn't go up and created a minor channel. now it could go both ways - up or down. i'm still biased towards the up side as it is still the trend and will hold my long position.
if the price will continue down, then i will start looking for a short entry.
Archivos adjuntos:
Sleep is for the weak.
Nov 04, 2009 at 19:39
update on the positions:
gbpusd - doing well, looking to hit target
eurusd - also looking good, might exit at the closest resistance, looks like it can still go down before continuing the up trend
here's the setup i've talked about in the usdcad, it's a goog time now for a short entry
gbpusd - doing well, looking to hit target
eurusd - also looking good, might exit at the closest resistance, looks like it can still go down before continuing the up trend
here's the setup i've talked about in the usdcad, it's a goog time now for a short entry
Archivos adjuntos:
Sleep is for the weak.
Nov 09, 2009 at 09:48
both positions played out. i've decided to take profit instread of partial closing as it is not clear to me where price will go at this point, so looking to have a better view.
eurusd trade overview:
gbpusd trade overview:
you can see from the above images, i managed to get nearly 700 pips. also i've stopped using rsi at all as it is now clear to me that it doesn't give me anything besides filtering trades (both bad and good with about 50% expectancy).
eurusd trade overview:
gbpusd trade overview:
you can see from the above images, i managed to get nearly 700 pips. also i've stopped using rsi at all as it is now clear to me that it doesn't give me anything besides filtering trades (both bad and good with about 50% expectancy).
Archivos adjuntos:
Sleep is for the weak.
