[thalestrader]

Originally Posted by thalestrader »

current look at the 6J

Best Wishes,

Thales

A follow up.

Best Wishes,

Thales

[thalestrader]

Originally Posted by Gabe2004 »

2nd potential long EJ.
Still not an ideal situation.

Gabe

I agree with you, Gabe, that its not ideal. I had a buy stop at 130.95 and canceled the order. It may have the makings of the sequence, but its doing it from within a choppy range. Probably a 50/50 shot if it triggers. Why take 50/50 when the next 80/20 trade is never far away? Good eye you are developing there.

Best Wishes,

Thales

[Cory2679]

Originally Posted by Cory2679 »

Potential GU short...

My one trade today...break even (I took one tick of profit to cover commission).

I took a long off of the breakout of the range that formed after I had posted the GU short possibility.

This trade was SO FRUSTRATING...look at the two times it teased me...

BTW, I got in late...10 ticks late, actually...wasn't paying proper attention...so I guess where I got out could have potentially been 10 ticks of profit...oh well...

[thalestrader]

Originally Posted by Cory2679 »

This trade was SO FRUSTRATING...look at the two times it teased me...

Hi Cory,

Not to worry as you're not alone. The GU played me like a fiddle today as well. I was up 30 ticks at one point and thought I had moved my stop loss higher.

Best Wishes,

Thales

[thalestrader]

Originally Posted by thalestrader »

Hi Folks,

I thought it would be interesting if we had a thread where we could all post charts of potential price moves in real time. ...I'll start off with the GBPUSD here soon after the markets have reopened for trading this Sunday evening.

That is from the first post of this thread. I just realized that in my initial posts I was using range charts on the currencies as I thought they would clean up the noise for my daughter and help her spot the important levels more easily. It was soon after I started the thread that I moved her to 15 minute charts.

For what its worth, some of you might find range charts a useful companion initially. Fewer trades, usually (unless you are using a small range setting), but once you get a trigger, there is usually nothing to stop price before it gets to the next S/R level.

Also, you have to adjust the range to the pairs you are trading and the current (and ever changing) volatilty. Overtime, I have looked at anything from a 10R to a 50R. You will have to play with the ranges to se which suit your eye as well as which captures the important levels on the pairs you are trading.

Also, and again for what its worth, I checked back through my trading records. I really started to trade currecy futures in earnest back in 2004. I tried lots of things for a couple of years. In January of 2006 I seem to have settled on the 15 minute as my preferred trading chart for currencies, and it remains so today, almost four years to the day later. So do not feel you have to go to range charts. I will not be posting range charts myself. But I figure I would put it out there as something that some may find helpful.

I still advocate focusing on the 15 minute chart of one market as the best way to learn to learn this appraoch on currency markets (futures or spot).

Best Wishes,

Thales

[traderbrazil]

Hi Thales,

Thank your for your feedback!

I have attached a chart on 2 possible trades.
Please confirm if the short would have been a valid setup.

Back to the previous BE question... Is this a case where you would have moved your stop to BE on the long setup?

Many thanks!!!!

[Gabe2004]

Originally Posted by Gabe2004 »

2nd potential long EJ.
Still not an ideal situation.

Gabe

Haven't notice but it looks like my entry would have been hit and if so this trade would be a loser because the STP was hit also.
The chart that you see is called a Min/Max chart and it shows the levels where actual trades were executed.
Candle charts show the mid point between the bid and the ask.
Atleast on the oanda platform.
Nevertheless, I would restart the potential trade setup.

Gabe

[Cory2679]

Originally Posted by thalestrader »

A follow-up.

Best Wishes,

Thales

Just reserved the William O'Neil book at B&N...How to Make Money in Stocks...going to pick it up later this evening...just for some nighttime/weekend reading...