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LinkBack (6) | Thread Tools | Display Modes |
07-23-2008, 02:27 PM
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Joe............
Your trade was magnificent; having said that, you also entered on an overheating CCi-5?? OR do you not worry about that?
My entry was after the announcement at 11h15 with a 16 pip stop. Any comments?
__________________
"Risk comes from not knowing what you are doing" The Tao of Warren Buffett. "Avoiding mistakes, makes people STUPID and having to be RIGHT, makes you OBSOLETE." Robert Kiyosaki.     
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07-24-2008, 06:14 AM
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Yesterday's M15 entries...
Just to round off the entries on the M15 yesterday, I am posting the entries as I see them and for your comments if any, please.
Best wishes for today and always.
__________________
"Risk comes from not knowing what you are doing" The Tao of Warren Buffett. "Avoiding mistakes, makes people STUPID and having to be RIGHT, makes you OBSOLETE." Robert Kiyosaki.
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07-24-2008, 07:40 AM
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This morning's H1-setup
Firstly, when the 07h00-candle closed this morning @ 1.9974, both the RSi-H1 and H4 (NB) had crossed down for a short. The XO was short since the 23h00 candle anyway.
Price was above the Pivot and strategic EMAs. However, I have said it so many times, that the RSi-crosses take preference!! So here once again this morning we should have entered at that close and in my next post here, I will show you the M15-entry based on precisely what we saw here this morning. Dr. Van K. Tharp in his book tells a story of a trader who religiously followed his signals and one day his partner ignored the signal much to their company's detriment as they were large brokers. Do not let this happen to us. Best wishes.
__________________
"Risk comes from not knowing what you are doing" The Tao of Warren Buffett. "Avoiding mistakes, makes people STUPID and having to be RIGHT, makes you OBSOLETE." Robert Kiyosaki.
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07-24-2008, 07:47 AM
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The M-15 entry this morning
Here as mentioned above, is the M15-chart and the entry marked @ 07h45 close. Look at the CCi-entry crossing the zeroline!! (Golden entry)
Note the overheating CCi-5 on the next candle so had you missed the correct entry, you could have entered on the 08h30 candle where the "Diamond" is sitting with a price of 1.9960. This last entry is good for ｱ30 pips. The first entry ｱ45. Please comment if you are not clear on anything pertaining to these 2 posts. Best wishes.
__________________
"Risk comes from not knowing what you are doing" The Tao of Warren Buffett. "Avoiding mistakes, makes people STUPID and having to be RIGHT, makes you OBSOLETE." Robert Kiyosaki. Last edited by ValeoFX; 07-24-2008 at 07:48 AM. Reason: spelling
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07-24-2008, 08:17 AM
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After the news messed with the EUR, i looked at the GBP and noticed not a lot of movement. The setup on the 5 min for entry after the close of the 1000 candle was on ( in my opinion) and i took it. My question becomes the 1 hour wasn't looking favorably as the CCI was overheated, RSI was overheated ( but pointing down), etc.
Comments on how others looked at the trade? Best, cl Last edited by clahn04; 07-24-2008 at 08:24 AM.
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07-25-2008, 06:27 AM
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Cl re overheating H1 yesterday.....
Yes, that was quite nerve wracking, wasn't it? The rule is that once you are in the trade, use the 8-EMA to monitor the trade with stops at 20-ema. Should you get stopped, look for another opportunity to go in the same direction by following the CCi-5.
The H4 was THE clue!! Remember always that the H4 has 4 x H-1 candles and although you may think that the H1 overheating may stop the trade, it may just stay there for a brief period before continuing. Yesterday was NO exception. After the overheated H1, the price hovered and even retraced back to the LOW of the overheated H1, before continuing its destruction." Yesterday gave me 4 trades. I suggest you re-analise yesterday's trade over the weekend and look in particular how the CCi-34/5 behaved. That will give you a very good idea what to look out for today and forever forward. Best wishes to all.
__________________
"Risk comes from not knowing what you are doing" The Tao of Warren Buffett. "Avoiding mistakes, makes people STUPID and having to be RIGHT, makes you OBSOLETE." Robert Kiyosaki. Last edited by ValeoFX; 07-25-2008 at 06:49 AM. Reason: Adding..
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