TygerKrane's Pip-Pickpocketing

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aliassmith
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Postby aliassmith » Sat Jul 30, 2011 12:49 pm

TygerKrane wrote:So! I'm feeling the need to hold this EChf short (as I continue tackling "that setup").
I'm half asking myself if I should even be in this trade, or should I be waiting for a more definitive short MOMO on the M20 and then price returning there before I go short...

So I started off with my first entry, as price stalled there, I set a Limit Order hoping price would break below the previous H1 extreme. My second order was triggered, but price was going nowhere, so I closed my first trade for +10p.

I wouldn't normally have 40P SL, but I'm using that +10p I cleared from my first entry. ( i think that is how the idea goes. )

No target, as the D1 shows we are double-bottom status; I'm looking for this to fall through.

Why am I not instead trying to trade Long from DWM low extremes? --That damn fundamental brain of mine saying CHF has the better hand overall.

Image


Weekly chart shows what I mean better:

Image



EChf short, each entry still only 2.5:1 leverage.

D1, H3, H1:

Image


H3, H1, M20:

Image


Anyone have thoughts on my question in the pic, or just what you would have thought to yourself seeing the charts like that?


oo, oo, oo me I have a comment! Throw that funny-mentals thinking out
the window. At least this is how it works for me. I do some research and
figure out that (place currency here) has mid-term weakness based on the
information out there. I look at the charts for a good entry point and blam,
it goes against me.

I go short again and blam lose again.

The thing is it requires market timing to get in and out of trades and market
timing is gained from the charts. Now if market timing is the most important
part then why not focus on that aspect 100%.

Another thing is I see some (ok a lot) of people saying my zline, ect failed.
Well look at every zline and notice what happens. There is a high probability
that a fade happens. It may be 5 pips or a thousand but it is there and as a
trader you have to learn how to take advantage of that edge.
Trade Your Way as Long as It Makes Money!

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TygerKrane
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Postby TygerKrane » Sat Jul 30, 2011 6:12 pm

Jalarupa wrote:Hey Tyger,

Very nice trade off the EC lows... must have been a supply zone on a longer term chart... Otherwise the age old MO psychology of exit after a large bodied candle was just reverse engineered :P

But yeah way to go attacking the zline... very nice ;-)

I'm trying to understand your charts, though... I hope I have it right in my mind. Taking a break from Forex at the moment as we busy setting up a business this side, but yeah I hope to be back in action next month. Great to see you doing so well Tyger :)


Hey Jalarupa!
Sorry mate, nothing as clever as reverse engineering the large body candle exit, LOL.


That chart is nothing but short trades...
I was definitely trading INTO the lows, not off of the lows.

But I'm glad you brought that up so I can point out how the Trade History on my chart works:

Open (Empty) Triangle = Trade Opened
Closed (Filled) Triangle = Trade Closed

Green Triangles mean the trade was profitable
Red Triangles mean the trade was at a loss



Image




Good luck with the business, its investing related, right?

As for my trading, I will be fighting hard to give it my Best!!
Isshou kenmei Ganbarimasu!!

~Krane
Last edited by TygerKrane on Sat Jul 30, 2011 6:46 pm, edited 1 time in total.

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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TygerKrane
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Postby TygerKrane » Sat Jul 30, 2011 6:37 pm

aliassmith wrote:oo, oo, oo me I have a comment! Throw that funny-mentals thinking out
the window. At least this is how it works for me. I do some research and
figure out that (place currency here) has mid-term weakness based on the
information out there. I look at the charts for a good entry point and blam,
it goes against me.

I go short again and blam lose again.

[highlight=red]The thing is it requires market timing to get in and out of trades and market
timing is gained from the charts.
[/highlight] Now if market timing is the most important
part then why not focus on that aspect 100%.

Another thing is I see some (ok a lot) of people saying my zline, ect failed.
Well look at every zline and notice what happens. There is a high probability
that a fade happens. It may be 5 pips or a thousand but it is there and as a
trader you have to learn how to take advantage of that edge.



[highlight=red]The thing is it requires market timing to get in and out of trades and market
timing is gained from the charts.
[/highlight]


Image


I swear, talking with you reminds me of a favorite old school Nintendo game of mine, Rygar!

Rygar wrote:Wow, 1987...

Image


You even have your own theme music:

Rygar - Guru Theme

Guru indeed!!

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

aliassmith
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Postby aliassmith » Sat Jul 30, 2011 6:45 pm

TygerKrane wrote:
aliassmith wrote:oo, oo, oo me I have a comment! Throw that funny-mentals thinking out
the window. At least this is how it works for me. I do some research and
figure out that (place currency here) has mid-term weakness based on the
information out there. I look at the charts for a good entry point and blam,
it goes against me.

I go short again and blam lose again.

[highlight=red]The thing is it requires market timing to get in and out of trades and market
timing is gained from the charts.
[/highlight] Now if market timing is the most important
part then why not focus on that aspect 100%.

Another thing is I see some (ok a lot) of people saying my zline, ect failed.
Well look at every zline and notice what happens. There is a high probability
that a fade happens. It may be 5 pips or a thousand but it is there and as a
trader you have to learn how to take advantage of that edge.


Image


I swear, talking with you reminds me of a favorite old school Nintendo game of mine, Rygar!

Rygar wrote:Wow, 1987...

Image


You even have your own theme music:

Rygar - Guru Theme

Guru indeed!!


I was reading the NLA thread again, always a good read.
I just saw your reply ----- I HAVE THEME MUSIC------- :D

I hope what I post helps. A lot of study,practice, and crying :cry: went into
learning those lessons. :lol:
Trade Your Way as Long as It Makes Money!

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TygerKrane
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AU, Friday 7/29/11

Postby TygerKrane » Mon Aug 01, 2011 8:22 pm

So, on Friday, I was watching the large Bullish MOMO on AU, and I was hoping for price to pullback to at least reach 50% of it, but I was more keen on watching it pullback closer to the origin (my red dotted line), and at the most extreme, a pullback to the bottom wick of that bullish MOMO (brown line).
I started trading a bit as the price was reaching the 50% mark, but then I really started being ready for a move as price reached between my two lines.
I also had a strong Long AU bias b/c I keep thinking of gold being at +$1600/oz.

You can see that I took my last trade wherever that is, got stopped out, and then I had to leave the computer to do stuff.

So, of course, I was upset to come back and see that price had pulled back a bit more, and then shot up the 50-75 pips in such a short time after I had been following it for so long.

So I saved to charts to see what might've been a good entry if I was at the computer.
But then I realized to ask myself, "At What Point should I be waiting to trade a pullback in price" versus "At What Point should I be thinking about trading away from a line (maybe my red line)" ?
There WERE *3* strong closes below my red line after all.
Yeah, even if I had changed to a short bias below my red line, I wouldn't have survived a long term short trade, but still, I think I might be being a bit too inflexible...

I do struggle with deciding between when to take short, medium, and long term trades; I'll probably be saying this over and over again...

H3, H1, M20:

Image


M20, M5:

Image


and at the end of the day, I was left scratching my head looking at the daily chart

Image



Maybe I am just too damn focused on trying to have a 'bias' when I approach charts :smt102

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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EChf, Friday 7/29/11

Postby TygerKrane » Tue Aug 02, 2011 2:13 am

So as I woke up Friday morning and saw last AU long attempt had been stopped out about 3hours earlier, I looked at my P/L and realized just how much money I had lost trying to get my AU long in.

I did however, still have my EChf Short in as the continuation of my previous trade ( here & here. )

It was Friday morning EST, so I when I saw the H1 shoot down like that, I figured that was as good as price would get on a Friday, so when that H1 candle started retreating back up, I figured I'd close it out immediately, b/c mentally, I just want to try and end my day at breakeven after being frustrated by AU all night long.

Had I not been so frantic, I could have waited for my M20 trail and got a good deal more pips.

In conclusion, I need to stop telling myself that Friday's don't have much opportunity. I already KNOW that as the market moves as it does, you can definitely get yourself into a good position on Fridays. It's just a stupid mindset I picked up from others a long time ago...


Image

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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Jalarupa
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Postby Jalarupa » Tue Aug 02, 2011 4:34 am

TygerKrane wrote:
Jalarupa wrote:Hey Tyger,

Very nice trade off the EC lows... must have been a supply zone on a longer term chart... Otherwise the age old MO psychology of exit after a large bodied candle was just reverse engineered :P

But yeah way to go attacking the zline... very nice ;-)

I'm trying to understand your charts, though... I hope I have it right in my mind. Taking a break from Forex at the moment as we busy setting up a business this side, but yeah I hope to be back in action next month. Great to see you doing so well Tyger :)


Hey Jalarupa!
Sorry mate, nothing as clever as reverse engineering the large body candle exit, LOL.


That chart is nothing but short trades...
I was definitely trading INTO the lows, not off of the lows.

But I'm glad you brought that up so I can point out how the Trade History on my chart works:

Open (Empty) Triangle = Trade Opened
Closed (Filled) Triangle = Trade Closed

Green Triangles mean the trade was profitable
Red Triangles mean the trade was at a loss



Image




Good luck with the business, its investing related, right?

As for my trading, I will be fighting hard to give it my Best!!
Isshou kenmei Ganbarimasu!!

~Krane


Ahhh I see now! :D In that case congrats on dominating so nicely!

I must say thanks for ya posts TK, I've also been doing a lot more analysis of the market than actual trading and its been paying off little by little.

Business wise we starting up a small import export arm in the company but the core business is still focused on investing... Luckily the new business gets funded via profits taken from the main business and so its basically paid for with free cash...

Keep on kicking ass man! 8)

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TygerKrane
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Postby TygerKrane » Tue Aug 02, 2011 2:23 pm

GU Long,
was initially attempting to short back into the long lower M20 wick, but then decided for the long.

Can't really think of a clearer explanation.


Image



Image

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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TygerKrane
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Postby TygerKrane » Tue Aug 02, 2011 3:10 pm

Looking for a Long on EA...

W1, D1, H3:


Image



H3, H1, M20:

Image



What usually happens to me at this point is that once I've established a long term view, I expect that any trade I take in that direction should get me +50pips.
So I end up accumulating -10p though -20p SL's when I could've taken multiple entries and had +20, +8, +13.
And of course, I ALWAYS get stuck in the mindset that MY FIRST ATTEMPT into the trade is the one that should net me the big move in my direction without a possibility of any further drawback... :x

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

aliassmith
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Re: EChf, Friday 7/29/11

Postby aliassmith » Tue Aug 02, 2011 4:08 pm

TygerKrane wrote:In conclusion, I need to stop telling myself that Friday's don't have much opportunity. I already KNOW that as the market moves as it does, you can definitely get yourself into a good position on Fridays. It's just a stupid mindset I picked up from others a long time ago...


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