mook - LOG
Moderator: moderators
Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.
Thank you for your support.
These retraces bother me, bc I just don't know how to profit from them. The rebounding between the 50-100 fibs could have netted some nice pippage. I'm out around the low 3 sema. Non farm comes out tomorrow morning, and I don't wanna get blasted.
Gotta get some shut eye. Its been a less stressful day because of the BM trade. Expecting snow in Toronto on Thursday !@#$&*!!!
later.
Gotta get some shut eye. Its been a less stressful day because of the BM trade. Expecting snow in Toronto on Thursday !@#$&*!!!
later.
- Attachments
-
- 1.gif (24.32 KiB) Viewed 4455 times
Thanks Ad,
1st trade today. Shorted at top fib. Funny thing however, that the blue fib is from a 4hr more than 1/2 mth ago ~ and yet it still seems to be relevent. I've come to realize that fibs give me a general idea of where to enter and exit, but identifying the actual SR levels will have to be part of the game plan. I will experiment with whether or not the more recent 4hr fibs take precedent.
Ad, when you say you trade over 100 times a wee ~ Do you trade in one direction, on multiple pairs, or are you long/short on a single pair? I only trade EU, as I'm comfortable with it.
1st trade today. Shorted at top fib. Funny thing however, that the blue fib is from a 4hr more than 1/2 mth ago ~ and yet it still seems to be relevent. I've come to realize that fibs give me a general idea of where to enter and exit, but identifying the actual SR levels will have to be part of the game plan. I will experiment with whether or not the more recent 4hr fibs take precedent.
Ad, when you say you trade over 100 times a wee ~ Do you trade in one direction, on multiple pairs, or are you long/short on a single pair? I only trade EU, as I'm comfortable with it.
- Attachments
-
- 1.gif (27.91 KiB) Viewed 4399 times
Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.
Thank you for your support.
mook wrote:Thanks Ad,
1st trade today. Shorted at top fib. Funny thing however, that the blue fib is from a 4hr more than 1/2 mth ago ~ and yet it still seems to be relevent. I've come to realize that fibs give me a general idea of where to enter and exit, but identifying the actual SR levels will have to be part of the game plan. I will experiment with whether or not the more recent 4hr fibs take precedent.
Ad, when you say you trade over 100 times a wee ~ Do you trade in one direction, on multiple pairs, or are you long/short on a single pair? I only trade EU, as I'm comfortable with it.
They are only scalp trades on the EU. I trade both directions but if I have a good feeling that the overall daily trend is one way I might hold those trades longer.
But typically I always close out 80% of my position once the trade reaches around 15 pips.
My hard stop is around 3.5 pips but I usually always close the trade manually if its not going my way and lose 1-2 pips.
Its not a lot of pips but I use very large position sizes and usually double my account every 40-50 days using very small risks for each trade.
Here is an example of yesterday.
Normally I don't hold trades this long but starting from the far left I got stopped out at 0, -2, -3, and caught the bottom at around 1.4005 and scaled out most of my position after 10-15 pips but held some of it till the break 50 pips later. Then tried catching a long again and due to slippage I got a bad -4 loss on that one.
I only do this on the euro because its takes too much concentration to do it on multiple pairs and euro has the best spread/liquidity and volatility at times. Trading like this is a real pain though and you really gotta work for it that's why I prefer trading long term.
Today I only traded the NY session and im flat pretty much waiting for the Fed Rate in about an hour.
Thanks Ad,
I think i'm done for the day. This is my 4th trade today. Averaging about 10-15 pips/ trade. This last trade I guess I traded on the out come of the FOMC report. Here's what happened:
Made 40 pips in the last few candles. I don't usually trade news, but since pa crossed above my fibs, i decided to trade in that direction. I just let er ride. I got out where the 3 sema was, as it pretty much zipped out all the sellers from last night. I'm out now. Hope you did as well or better Ad.
I think i'm done for the day. This is my 4th trade today. Averaging about 10-15 pips/ trade. This last trade I guess I traded on the out come of the FOMC report. Here's what happened:
Made 40 pips in the last few candles. I don't usually trade news, but since pa crossed above my fibs, i decided to trade in that direction. I just let er ride. I got out where the 3 sema was, as it pretty much zipped out all the sellers from last night. I'm out now. Hope you did as well or better Ad.
- Attachments
-
- 2.gif (25.75 KiB) Viewed 4346 times
-
- 1.gif (25.67 KiB) Viewed 4346 times
Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.
Thank you for your support.