30 pips. Yes. Links for automatic trailing stop: http://www.alpari-idc.com/eng/software/metatrader.php and http://dynaorder.com/efs-fxdots-examples.asp and http://dynaorder.com/esExamples/fxMACrossover.asp and http://www.fabrefactum.com/robots.htm and http://www.fabrefactum.com/trailingstops.pdf
Short ES swing short here at 1105.50. Just closed ES long from 1092 level this morning. And EUR short from yesterday ended up a good +90. Now long EUR, but with little confidence. Made over 100+ on additional AUD short over last few days, and my AUD short position of a lifetime has gained massively. Also, scalped the ER2 all day with trim, up a very decent amount, too (wont' boast here). I love these markets... P.S: I know I haven't replied for a while. Been pretty busy, will reply to Jay & Co asap... Best, S
Hey jrs3, I don't mean to be rude, but I like to be honest: The chart is a pain in a chartist's eye. You don't even know how to draw trendlines / channels! You have used lines and just planted them the way they fit the best to the bodies of the candles - that's a total no-no. It's not the bar "body" that counts, but actual bar range - the price areas traded. This is a big problem a lot of candle chartists get wrong, and it's a big problem with candlestick charts in itself. I used to be a candle freak (yes, read all the Nison books), but gave candles up totally for bar charts, because they're misleading. The problem with candles is that their fat bodies visually distract from the actual range of the bar, and it gives people false impressions of trading ranges. Now draw trendlines that fit to the bodies rather than the wicks, and the chaos is complete. Here you go for instruction on that particular chart: - Referring to all bars after the long one covered by that blue vertical line... 1. Start line at 2nd bar top 2. End line at 7th bar top 3. Copy that line, and attach it to 3rd bar bottom Now you should have 2 totally parallel lines, resembling a channel. As it will turn out later on, the 12th bar bottom just touches that actual channel bottom nicely, then bounces up. And you could have acted on that for a nice long, had you drawn your channels properly. Also, you will figure that the upper channel line on that chart has not actually been broken yet, if you draw the lines properly. But hey, no doubt it looks pretty bullish. Get rid of that trendline chaos, never "cut" through bars drawing a trendline, and make sure channels are channels, i.e. parallel. Don't worry, there's a million traders who don't know how to draw a trendline... Hope that helps, Scientist
The cable has been much more tradable than the EUR lately. The EUR is becoming pretty erratic. Its bouncing up and down with so many spikes. Am I the only one having difficulty assesing where she wants to go. The cable tightened up on the 60min chart then she broke down like a beauty.. awesome setup and trade. I am just concerned that in a few years the cable will be gone as UK adopts the Euro. Too bad. I have a question for some old time currency traders... before the euro were most currencies as smooth as the cable.. like the German mark or the Franc?? --MIKE
Dude... its nice to know u can manifest your ego on these boards. No one really gives a shit how much money u make on each trade. What benefit does it have for other traders. If u want to brag about how much $ u make why not post us a snapshot of your P&L... otherwise u really become irritating. Most of your calls before the fact have been absolute crap.. I followed a few of them... no edge listening to you. If you dont have any particular method or rationalization u want to share on this thread then what is the point of bragging? If you want to talk strategy, technique, whatever fine.. but if u start bragging about trades that u did just for the sake of stroking your ego.. take it to the yahoo boards. --MIKE