FX and Commodity Charts & Ideas


#122

It just gets better with time.:+1::sunglasses:


#123

What skeered money looks like. Early start yesterday so missed pretty good move. Just couldn’t get a “feel” of the rhythm this morning. Lucky to get couple pips. When I can’t get the “feel” I shut the computer down and do not cut it on for at least 3 hours. I got a few silly rules but they there for a reason.


#124


#125

:rofl:
15 trades, average win 1.5 pips
:rofl:


#126

That’s great Ex. When I trade high risk each pip increases my account by .404% Therefore, 22.5 pips would have increased my account by 9.09%. A medium risk pip is .261% Therefore, 22.5 pips would have increased my account by 5.87% – a good day either way.

I shoot for 6.3% per week which means I must produce 15.6 high risk pips a week. I think if one keeps a journal and breaks this down into manageable goals it greatly simplifies it.


#127

Hi Jim, that is interesting. At the moment I am trading 1 pip = 0.1%, so that gives me 2.25% on the day. Buried in there are two losing trades, the biggest was 9-pips down, but overall I was up 22.5 pips. The thing which is still holding me back is that I don’t recognise a bad loser quickly enough and therefore don’t close it soon enough.

It is not easy, and I note from your ‘skeered money’ post just above that you took a 2 or 3 pip profit with at least a 15-pip draw-down in the middle. :+1:


#128

:slight_smile: In my past there are many instances where I have watched a trade go in my favour by a dozen or more pips, and then turn round and drive me negative. So these days I tend to take what is there. At least I am now in the situation where I can see what holes need plugging. :innocent:


#129

Yep. Why I post all trades I make on the weeks I post trades. When a trade is in trouble, I get out quickly as possible. I don’t post trades less than a pip but I have couple most weeks. Do what I call a safety. Soon as trade is 3 pips to the good, I will sometimes move sl to break even. As I trade mostly by “feel” every “established rule” of trading is violated. This week I have traded very little cause I just ain’t got the “mojo”. Hope it returns after the draggy conference. How I have it plotted at the moment:


#130

Watched draggi conference while keeping eyeball on pa. Saw weakness. Shorted and covered. Medium risk. We C.


#131

When spike slows, I’m out. Businessman, not a gambler. Bit over 7% profit in 20 minutes. Mojo back. Will now cut laptop off and wait at least 3 hours before looking for another opportunity.


#132

Things are getting decidedly ugly on the 500… that bounce is retreating… That bear is still around


#133

Think it’s probably gonna stay in crazy mode till after the libs get the shock of their lives Nov 6 and the military turns the mob around in mexico.


#134

Order for EU. No time for sniper tactics. If it fills and gets a head of steam up TP isn’t fixed and may try and manage on the hoof or of course the other alternative take it in the shorts !
Good trading chaps !


#135

It is interesting, my perception is that the crash has started, but if you put up some weekly charts

the DJI^ in January as in September it topped just under 27,000 and has not yet reached the lows of March
the SP500^ made a higher high in September, around 2930, and has not yet reached the lows of March ~2600
The FTSE^ has twice brushed 7800 this year, and is threatening the March low below 6870, which is down 12%

Some European indices are looking pretty sick, down around 15%

Far East is the tale of woe. Japan has mostly mirrored the SP500, but the Chinese and Hong Kong indices are down between 25% and 30% since their January peaks with no recovery over the summer months.

So it appears we are the point of finding out… and with Monday being 29th October I fear things are about to get worse. :neutral_face:


#136

Hi Stu,
I have a weekly close from apr 2016 at 1.13458 and golden ratio support at 1.13396 so I will be in with you if it gets down here :+1:
My stop is just below .13396 and I haven’t a clue for a target :laughing:


#137

…and after that expression of foreboding I went looking for crash-data
It seems that there are no particular favourites for days at the start of a crash
However October shows more often than most.


#138

Had a take profit of 26.9 pips on this one. Woke up this AM and took what she had given. Done for the week. Medium risk.


#139

What is a golden ratio ?

Since you are looking that far back…
15 August 2018 price touches 113.00
On the weekly I have 113.80, a level that has failed but today’s close could change that.

The next levels down are:
112.00 … bounced Jan 2015 and was magnetic in June 2017
111.00 … a lot of touch-points along here
all the round numbers down to 105.10, with low at 103.50 in December 2016

There could be something at 108.25, still a way off


#140

Was nice hit and would have been a smash and grab had I been at the helm but alas I wasn’t so took it in the pants instead ! Shit happens.

@robgsxr Hope you nailed it mate.


#141

What a bummer.sorry you missed this.
I am still in at around 30 pips +tve
From a couple of harmonic patterns I have run if there is daily confirmation, this has the potential to move back up to 1.15ish and some.
I might not stay in though as I want to stay focused on scalp opportunities :+1: