Position Trading. - page 17
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Diamond on usd/cad. i'm still short this one from late nov, managed to bank a bit on the last fall. My chart book is telling me the diamond has a good chance of breaking south again. my stops at ~1.1540
i really dont have much faith in this one break 1.14 in the short term. i would be surprised if it breaks south a bit and then goes north. horah for oanda boxes!
About E/A
Thanks Jack and Shahzad for your views on E/A.
My trade went up 25 pips or so, and then turned against me.
Lucky for me , i Got stopped out in positive territory.
Now i see it's coming back to the level of my entry, so, I guess you guys are right : this is a " NO TRADE " at this time.
Jack, I am also waiting for this to short. but I guess as long as EURUSD remains strong, it will not short.
CJ.-
Disagree on u/cad
Jack, I disagree on your views on u/cad.
I am trading the weekly charts on this one. got about 70 pips last week on it
and already +25 at this time. i see the price is at 1550 now, so, i guess you're stopped out already.
Here's my analysis on the weekly charts of u/cad :
8-EMA crossed over 21-ema on november 5th, (previous cross under was on July 3rd.)
since the latest cross, it's been bullish, up +260 pips.
my target on this move is the 100-ema. total for the move is 470 pips.
so, we are around 220 pips away from the target at 1.1760 or so.
of course, i don't plan to ride this all along...i've been in and out making some pips... but anytime i get a long signal from daily or 4-h charts, i take it 'cause i know the bigger trend supports it.
Diamond on usd/cad. i'm still short this one from late nov, managed to bank a bit on the last fall. My chart book is telling me the diamond has a good chance of breaking south again. my stops at ~1.1540 i really dont have much faith in this one break 1.14 in the short term. i would be surprised if it breaks south a bit and then goes north. horah for oanda boxes!
Great analysis Zeejay,
That's what I want from you people...go long term, and think like 400 and 500 pips...for example if you have risk and reward 1:4 mean it has more probability to go high side of the equation i.e. 4 and if long term trend is on even we get 200 pips out of 400...who cares...People adjust your own system according to long term scenario. Even you play patterns, averages or any thing else. The sole purpose of my this thread is to think long term, instead looking for a holy grail system.
Playing as long term trader itself is a system regardless of what real strategy you are following. Combine weekly, daily, and 4 hourly chart and you won't be wrong many time. Look for good risk and reward entry according to your system and if get in i m sure you will be in right side of the market. Because small forces can not change big forces.
Rgds,
SFX
Jack, I disagree on your views on u/cad.
I am trading the weekly charts on this one. got about 70 pips last week on it
and already +25 at this time. i see the price is at 1550 now, so, i guess you're stopped out already.
Here's my analysis on the weekly charts of u/cad :
8-EMA crossed over 21-ema on november 5th, (previous cross under was on July 3rd.)
since the latest cross, it's been bullish, up +260 pips.
my target on this move is the 100-ema. total for the move is 470 pips.
so, we are around 220 pips away from the target at 1.1760 or so.
of course, i don't plan to ride this all along...i've been in and out making some pips... but anytime i get a long signal from daily or 4-h charts, i take it 'cause i know the bigger trend supports it.Yeah most of my short usd/cad got stopped. I tend to scale in and out.
"Ask two Economists, get three answers" I guess the same goes for traders.
One way I trade an account position wise is to build up exposure/risk to a point and then cover it using options/correlation, once the market moves in a direction then you start to load up and build a better position in a pair and then wait for the next consolidation phase.
Clear small short. for UJ
Hi shadz, just something i've noticed with divergence trading is that the trade can be a lot easier if you are buying/selling off recent support (tops and bottoms) etc.
gl
Hi shadz, just something i've noticed with divergence trading is that the trade can be a lot easier if you are buying/selling off recent support (tops and bottoms) etc. gl
Divergence in short time period is giving me hard time. However, it is one of the filter to confirmed that either we are on the top or bottom of the swing.
Play only divergence on 4hr, daily, and weekly...You will see the power of it.
But how we will know what is top or bottom of swing. Divergence will tell us. Or trend break out.
The pattern break out is also very useful to get into the market.
All big time traders are very much in favor of divergence trading. I understand most of them are stock trader...but divergence in real sense can be played in forex too. The only thing ppl are losing money in forex is the game of brokers...I mean the leverage game...1:400 etc. It is very attractive for newbie.
Rgds,
SFX
Divergence in short time period is giving me hard time. However, it is one of the filter to confirmed that either we are on the top or bottom of the swing.
Play only divergence on 4hr, daily, and weekly...You will see the power of it.
But how we will know what is top or bottom of swing. Divergence will tell us. Or trend break out.
The pattern break out is also very useful to get into the market.
All big time traders are very much in favor of divergence trading. I understand most of them are stock trader...but divergence in real sense can be played in forex too. The only thing ppl are losing money in forex is the game of brokers...I mean the leverage game...1:400 etc. It is very attractive for newbie.
Rgds,
SFXi need to know why is it not good to have 1:400 as chosen leverage. i have chosen 1:400 leverage in nofrth finance broker. need your explanation why 1:100 or 1:200 is a better leverage to start with. thanks