Freddie Posted August 8, 2010 Author Report Share Posted August 8, 2010 Good job with the pics Kraven. Yes it is a bit of a hassel but I seem to have got the mechanics sorted and the practice of turning your trades into pics really helps me get the idea. Hopefully, this week I will be posting the 'entry' charts ahead of your posts. Freddie Quote Link to comment Share on other sites More sharing options...
superfx Posted August 8, 2010 Report Share Posted August 8, 2010 where is the download link? Quote Link to comment Share on other sites More sharing options...
Freddie Posted August 8, 2010 Author Report Share Posted August 8, 2010 where is the download link? For what? OK too short a message so adding rubbish. What do you want to down load?? Quote Link to comment Share on other sites More sharing options...
Freddie Posted August 9, 2010 Author Report Share Posted August 9, 2010 (edited) Good morning threaders!! £$ has opened gapped up fifty odd pips but I don't play the gaps at this time. No news today so only the normal 'time' breakouts to play with. I have to take my wife to her yoga retreat around lunch time and that will take most of the morning. The return will take most of the afternoon so not much from me today. http://i914.photobucket.com/albums/ac341/freddieforII/News%20trading/News0908.jpg I will post later. Freddie Edited August 9, 2010 by Freddie Quote Link to comment Share on other sites More sharing options...
Freddie Posted August 9, 2010 Author Report Share Posted August 9, 2010 (edited) Here is a strategy from a chap in California. It is an 0700 UK Breakout. Midnight his time. We have best part of an hour before 0700 but if I am here and available I will put up a pic of his BO start ready to look at it later when I return. I believe that he goes for just 20 pips which he should get from the Frankfurt Open. It usually moves one way or the other I think. He uses an EA called easy sets up the Buy and Sell stop markers and waits for the trade to trigger. I will try to set it up with a TP 25 SL 15 on my demo since the electric is good and so is my internet for the moment. Freddie Edited August 9, 2010 by Freddie Quote Link to comment Share on other sites More sharing options...
Freddie Posted August 9, 2010 Author Report Share Posted August 9, 2010 Right, 0700 passed and the trade set up: http://i914.photobucket.com/albums/ac341/freddieforII/News%20trading/News09083.jpg When the trade is triggered, the TP and SL should appear. We will see. BTW Gap watchers would have made the odd 25 pips of so. Freddie Quote Link to comment Share on other sites More sharing options...
synergy Posted August 9, 2010 Report Share Posted August 9, 2010 Just for those who wonder where can get on this EA, it is available on FF. http://www.forexfactory.com/showthread.php?t=98061 Quote Link to comment Share on other sites More sharing options...
kraven Posted August 9, 2010 Report Share Posted August 9, 2010 Pauli, when the 1hr, 6 til 7 candle closes mark high and low. Go to 5min chart and wait till a 5min candle CLOSES above/below line. So your waiting for a 5min candle between 7-8 (the frankfurt open, just before uk open) ) from what time to 7am Freddie? you might as well do the breakout i said above Quote Link to comment Share on other sites More sharing options...
Freddie Posted August 9, 2010 Author Report Share Posted August 9, 2010 My electric went within 15 mins of that posting. I will put up the pic later that shows the down move which would have yeilded 25 pips. Quote Link to comment Share on other sites More sharing options...
pardy Posted August 9, 2010 Report Share Posted August 9, 2010 Your 10-10.30 breakout seems rather good, Freddie. Worked on GU and EJ today. Thanks for sharing. In fact, these breakout trades of yours and Kraven seem to be overall quite positive, and you don't need to be stuck in front of your pc all day. Glad I found this thread! Pardy Quote Link to comment Share on other sites More sharing options...
Freddie Posted August 10, 2010 Author Report Share Posted August 10, 2010 Your 10-10.30 breakout seems rather good, Freddie. Worked on GU and EJ today. Thanks for sharing. In fact, these breakout trades of yours and Kraven seem to be overall quite positive, and you don't need to be stuck in front of your pc all day. Glad I found this thread! Pardy Hi Pardy, You are very welcome. Please post your views. I am beginning to develop a different view of Forex Trading. I used to believe that one could find a 'magic' system with appropriate indicators that would tell me when to enter and exit. I have downloaded everything that I could find on this fine site and looked at how they worked. After all that, I conclude that we just don't know where price is going. It is not predictable but if we take a point in time, mark a high and low, put in buy/sell stops and leave the rest to price. We will either win or lose. Yesterday was a win but we also need to choose our TPs and SLs carefully. So...what we have to do now is to select our ranges. Kraven has suggested a few based on various events in the trading day. I will try to chart them. This week we are trading the news breakouts. Effectively the same thing, just that newstime dictates the time and range. It should be an interesting week. If you read enough threads you will conclude that breakouts are not sucessful over time. I suspect that is the result of simply trying to trade the well known systems. FYI there are threads on FF called "95 pips a day" which is like Karl Dittmann's "100 pips a day" and "A simple London Breakout". The first two rely on making three trades each way for TPs that sum to 95 or 100. The third is far from simple and involves the dangerous 'martingale'. Conventional advice says just "take your losses and move on". Freddie Quote Link to comment Share on other sites More sharing options...
Freddie Posted August 10, 2010 Author Report Share Posted August 10, 2010 Just for those who wonder where can get on this EA, it is available on FF. http://www.forexfactory.com/showthread.php?t=98061 Thanks Syn. Quote Link to comment Share on other sites More sharing options...
Freddie Posted August 10, 2010 Author Report Share Posted August 10, 2010 Back to yesterday and my lost electric http://i914.photobucket.com/albums/ac341/freddieforII/News%20trading/0908BO.jpg Quote Link to comment Share on other sites More sharing options...
Freddie Posted August 10, 2010 Author Report Share Posted August 10, 2010 Seems that it didn't matter about my electric!! The easy didn't work today either. And just as I am typing this the electric has gone. so back later Quote Link to comment Share on other sites More sharing options...
Freddie Posted August 10, 2010 Author Report Share Posted August 10, 2010 Nice one Freddie. I'm planning on upping sticks and moving family over to Canada, been waiting 3 years for immigration. Which part of Canada? I have two sisters there in Vancouver, one not sure about the other one. Never met them, just found out about them a few years back. Cannot see anything newsey to trade. No doubt you will tell us what it was later. Quote Link to comment Share on other sites More sharing options...
Freddie Posted August 10, 2010 Author Report Share Posted August 10, 2010 I have downloaded the '3tier london breakout' from FF. Don't know when it activates I was watching until the electric went but nothing. Anyway here it is in all its glory. http://i914.photobucket.com/albums/ac341/freddieforII/NewLBO.jpg For my UK readers the 53p is pips not pence Quote Link to comment Share on other sites More sharing options...
kraven Posted August 10, 2010 Report Share Posted August 10, 2010 (edited) i was talking this trade through with Pauli when it happened. UK 9:30 trade balance. enter at break of news candle at .5807, as i type now it's went +90..i would have got out at +50. i didn't trade as i have a busy day today, in and out. should have entered a 10pip SL would have been fine. Toronto area in Canada Edited August 10, 2010 by kraven Quote Link to comment Share on other sites More sharing options...
Freddie Posted August 10, 2010 Author Report Share Posted August 10, 2010 FF calendar says 11:30 Trade balance. We need advice on this from the master!! Quote Link to comment Share on other sites More sharing options...
kraven Posted August 10, 2010 Report Share Posted August 10, 2010 no it does say 9:30 have you set your clock. Quote Link to comment Share on other sites More sharing options...
Freddie Posted August 10, 2010 Author Report Share Posted August 10, 2010 no it does say 9:30 have you set your clock. ...of course not, well, set it to'my' time, DOH is the modern expression I believe. Thank you Quote Link to comment Share on other sites More sharing options...
kraven Posted August 10, 2010 Report Share Posted August 10, 2010 (edited) it's all that sun going to your head Freddie. do you see it now..lovely smooth trade in what was at the time a slow market Edited August 10, 2010 by kraven Quote Link to comment Share on other sites More sharing options...
Freddie Posted August 10, 2010 Author Report Share Posted August 10, 2010 Yes, made a cods of that but my mentor puts me right. Here ladies and gentlemen is today's Trade Balance news trade. http://i914.photobucket.com/albums/ac341/freddieforII/Todaysnews.jpg Not a lot of excitement on the candle ( the blue one) but the breakout runs down to 90 odd. Quote Link to comment Share on other sites More sharing options...
kraven Posted August 10, 2010 Report Share Posted August 10, 2010 (edited) that's the one. as you can see it kept travelling slowly down. i thought it would and i mentioned it to Pauli about sometimes the slow one's go all day. people tend to grab profits from fast movers more quickly. Remember also this was a medium priority news release, sometimes these and low priority ones can have a strong pull on the market when the markets slow and looking for direction. as you can see once it broke the line it never came back (which is good for the nerves) i would have bailed on the red pin candle (near blue) or the lower part of the first blue for 50pips. but if you'd have gotten there and move SL to +30 and let it run you'd have made 90+ (hell you could see how low we can go, we could go down for days yet.) Feds (FOMC) are speaking at 7pm this is a biggy, also tomorrow BOE are expected to anounce reviewed growth/inflation forecast. Edited August 10, 2010 by kraven Quote Link to comment Share on other sites More sharing options...
kraven Posted August 10, 2010 Report Share Posted August 10, 2010 just a quick note just traded Fed FOMC news. really risky and something i would never advise (i've been burned several times trying it) but i dropped to the 5min candle and traded off that. got in at 5846 got out for +50 (near open price) in 15mins. real risky so low lot size and a tight SL. if i've got time i'll post more tonight Quote Link to comment Share on other sites More sharing options...
iwjw Posted August 10, 2010 Report Share Posted August 10, 2010 just a quick note just traded Fed FOMC news. really risky and something i would never advise (i've been burned several times trying it) but i dropped to the 5min candle and traded off that. got in at 5846 got out for +50 (near open price) in 15mins. real risky so low lot size and a tight SL. if i've got time i'll post more tonight I've traded FOMC with a straddle Got slipped 14 pips on SL of my short but ended up +20 in total on the long side Quote Link to comment Share on other sites More sharing options...
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