⭐ Unclepips Posted February 28, 2012 Report Share Posted February 28, 2012 To be exact, I sold it around 817AM using MBTrading broker. Quote Link to comment Share on other sites More sharing options...
Steveg Posted February 28, 2012 Author Report Share Posted February 28, 2012 I sold EUR/USD right before 830AM NYT this morning. the price that I got was at 1.3450 with a 33 pips stop loss (1.3483). and will lock in profit once I get 30 pips. If I get it. Well, I hope. I will look to get out of it around 6PM nyt. That looks like perfect timing for trading short at the top of the range. Why no exit on the ensuing (but brief) down swing? Quote Link to comment Share on other sites More sharing options...
⭐ Unclepips Posted February 28, 2012 Report Share Posted February 28, 2012 That looks like perfect timing for trading short at the top of the range. Why no exit on the ensuing (but brief) down swing? Hi, I took that trade because of time entry using Timingsolution. I got my time entry much better than I used to. However, the price action is what I am lacking off. from my past trades, if I can just lock in 30 pips, I am safe. Steveg 1 Quote Link to comment Share on other sites More sharing options...
Steveg Posted February 28, 2012 Author Report Share Posted February 28, 2012 Hi, I took that trade because of time entry using Timingsolution. I got my time entry much better than I used to. However, the price action is what I am lacking off. from my past trades, if I can just lock in 30 pips, I am safe. Hi: For the sake of discussion, did you enter a target price at the time of entry? Setting a target at the bottom of the then existing range (say the lower Bollinger band) would have gotten about 19 pips (quick). If set at the bottom of the Asian range extension (about 1.3395) would have gotten about 55 pips. Quote Link to comment Share on other sites More sharing options...
⭐ Unclepips Posted February 29, 2012 Report Share Posted February 29, 2012 1013PM (EST)- sold EUR/USD at 1.3477 target at 1.3427 with a stop at 1.3498. I hope to get some Steveg 1 Quote Link to comment Share on other sites More sharing options...
Steveg Posted February 29, 2012 Author Report Share Posted February 29, 2012 1013PM (EST)- sold EUR/USD at 1.3477 target at 1.3427 with a stop at 1.3498. I hope to get some Assuming you closed, that is an impressive trade. Quote Link to comment Share on other sites More sharing options...
⭐ Unclepips Posted February 29, 2012 Report Share Posted February 29, 2012 yes sir, sure did! Quote Link to comment Share on other sites More sharing options...
⭐ Unclepips Posted February 29, 2012 Report Share Posted February 29, 2012 Assuming you closed, that is an impressive trade. thanks. I think I am going to stay on the side line for a little bit now. Quote Link to comment Share on other sites More sharing options...
⭐ Unclepips Posted February 29, 2012 Report Share Posted February 29, 2012 Hi: For the sake of discussion, did you enter a target price at the time of entry? Setting a target at the bottom of the then existing range (say the lower Bollinger band) would have gotten about 19 pips (quick). If set at the bottom of the Asian range extension (about 1.3395) would have gotten about 55 pips. Steveg- thanks for your explanation! ianf0ster 1 Quote Link to comment Share on other sites More sharing options...
pcguy007 Posted February 29, 2012 Report Share Posted February 29, 2012 isn't it for futures and not forex? Are you guys going to this meeting? Starting at 9amEST, about 40mins time. http://www.omnovia.com/pages/sc2/room_login.php?eventID=63001329767359 http://i.imgur.com/ROoMY.png http://i.imgur.com/THzAK.png Quote Link to comment Share on other sites More sharing options...
⭐ Unclepips Posted March 1, 2012 Report Share Posted March 1, 2012 Loss 9 pips this morning. It is 905AM NYT - I am buying EUR/USD at 1.3297 targeting at 1.3373 with a stop at 1.3264. It has been kind of fishy this morning. and it is looking so fishy now. but I am taking this trade anyway. Quote Link to comment Share on other sites More sharing options...
Steveg Posted March 1, 2012 Author Report Share Posted March 1, 2012 (edited) Loss 9 pips this morning. It is 905AM NYT - I am buying EUR/USD at 1.3297 targeting at 1.3373 with a stop at 1.3264. It has been kind of fishy this morning. and it is looking so fishy now. but I am taking this trade anyway. Perhaps you will share your reasoning for taking this trade. Are you inviting comment? How are MM devotees trading this market in EURUSD or elsewhere? Edited March 1, 2012 by Steveg ianf0ster 1 Quote Link to comment Share on other sites More sharing options...
⭐ Unclepips Posted March 2, 2012 Report Share Posted March 2, 2012 Hi I use Cycletrends. I even shared here too. I also use timingsolution software. I mainly use time as my main indicator. that's why i told you previously that I don't understand price action much. Above all, I am NOT a professional trader. I am a part time trader, hoping to be a full time trader within the next couple of years if my understanding/using timing-cycles serve me well. I sure hope so. Steveg 1 Quote Link to comment Share on other sites More sharing options...
Steveg Posted March 2, 2012 Author Report Share Posted March 2, 2012 It looks like the just preceeding Asian session (EURUSD) trended downward after the first couple of hours emerging to the downside on the lower right hand corner. This doesn't seem to fit the idealized projection that the Asian session is merely one of MM (hidden) accumulation in anticipation of the moves that are to come thereafter. It is generally acknowledged that the Asian session is quieter than the London and New York markets, and that most tops or bottoms for the succeeding daily session occurs thereafter. Several trading systems are based on this phenonmenon, typically trading on breakouts. A significant double top appears on the 4 hour chart, the first peak being on Feb 24 and the second peak on Feb 28, while the MACD shows downside divergence. This appears to have portended the downside move that is now continuing. Quote Link to comment Share on other sites More sharing options...
⭐ Unclepips Posted March 2, 2012 Report Share Posted March 2, 2012 I am looking toward buying against the trend. I don't think EURUSD is going lower than 1.3185. but it could even stop at 1.3206 or so. So I am looking toward buying it for today, as soon as my Timing coming together. Quote Link to comment Share on other sites More sharing options...
⭐ Unclepips Posted March 2, 2012 Report Share Posted March 2, 2012 Sure, but I have difficulty opening it up this morning! It keeps crashing on me the whole morning! But I will post it. Quote Link to comment Share on other sites More sharing options...
⭐ Unclepips Posted March 2, 2012 Report Share Posted March 2, 2012 It is now 827AM NYT - I am buying EURUSD at 1.3216 Quote Link to comment Share on other sites More sharing options...
⭐ Unclepips Posted March 2, 2012 Report Share Posted March 2, 2012 not sure of the profit yet. I am gonna let it rise for a bit. but my stop will be 1.3176. jeannette1713006619 and ianf0ster 2 Quote Link to comment Share on other sites More sharing options...
Steveg Posted March 2, 2012 Author Report Share Posted March 2, 2012 It is now 827AM NYT - I am buying EURUSD at 1.3216 What is your rationale? Are you basing this choice on cycles? Quote Link to comment Share on other sites More sharing options...
Steveg Posted March 7, 2012 Author Report Share Posted March 7, 2012 What will it be this session in the EURUSD? Three leaps to the mayonaise? It has been a steady uptrend during the Asian session. Does this portend a further upside movement when the London session ensues (1 1/2 hours from now)? M and W formations (double tops and bottoms) suggest opposite direction price movement. This is traditional technical analysis. But using M and W over a period of days, rather than intra-day, sounds like an embellishment to the MMM theory. The latter focused on a daily pattern. Of course traders are free to use what ever works or add to an existing methodology. Comments welcome. Quote Link to comment Share on other sites More sharing options...
Steveg Posted March 7, 2012 Author Report Share Posted March 7, 2012 I am having difficulty saving and then deleting private messages. Any help welcome. I won't be able to deal with this till tomorrow mid-day (Pacific). Thank you. Quote Link to comment Share on other sites More sharing options...
Steveg Posted March 7, 2012 Author Report Share Posted March 7, 2012 (edited) What did price action during the Asian session portend? Four hours and 25 minutes after opening of the London session it can be said: Not much! Other than a brief minimal excursion above the Asian range (1900-0300 Eastern) upper boundary, price action remains solidly within the Asian range boundaries. Price is essentially level, with about a 38 pip range top to bottom. Or, as J.P. Morgan might say, it is fluctuating. Hindsight makes it tradeable, or scalpable. However, in keeping witih this thread's theme, how did MMM theorists trade it? Or did they? Would the Market Makers have achieved their goal of sowing consternation to serve their (devious) purpose? Edited March 7, 2012 by Steveg Quote Link to comment Share on other sites More sharing options...
jddavis Posted March 7, 2012 Report Share Posted March 7, 2012 I am having difficulty saving and then deleting private messages. Any help welcome. I won't be able to deal with this till tomorrow mid-day (Pacific). Thank you. Steveg, to be able to delete your messages, you have to open the message, then go to the very bottom of that message, you'll see a check box with "delete this message" check that, and then to far right you'll see an icon that confirms to delete this message, just click on that. You'll have to do that for each message. jeannette1713006619, ianf0ster and Steveg 3 Quote Link to comment Share on other sites More sharing options...
joeher133 Posted March 7, 2012 Report Share Posted March 7, 2012 I have gone down to the 5 Minute chart to deal with this choppiness and I have been doing pretty well. Today I entered on the short at 1.3148 and after recognizing the pattern I switched to the 15M and set a target of 1.3108, 10 pips shy of the 50 pips that is recommended by MMM. I ended up stopping out at 1.3123 for a 25 pip profit and then watched as price went down past my original target. I am experimenting with the 5M charts and these past few days I've been able to get some pips out of the stop hunt (when there is one) I set a small 20 pip target and then I look for the reversal and wait for the pattern to see if I get a possible MMM trade and go for 40 or 50+ pips. Today before the short I took a long at 1.3134 and went straight to my 1.3254 target for +20. I interpreted this move as the stop hunt. So far it has been working out fine specially with the stress level. I think that to get to the point of calling the tops and bottom within 15 or 20 pips will only come after a lot of practice and experience so I am being more conservative than the MMM's suggests. What did price action during the Asian session portend? Four hours and 25 minutes after opening of the London session it can be said: Not much! Other than a brief minimal excursion above the Asian range (1900-0300 Eastern) upper boundary, price action remains solidly within the Asian range boundaries. Price is essentially level, with about a 38 pip range top to bottom. Or, as J.P. Morgan might say, it is fluctuating. Hindsight makes it tradeable, or scalpable. However, in keeping witih this thread's theme, how did MMM theorists trade it? Or did they? Would the Market Makers have achieved their goal of sowing consternation to serve their (devious) purpose? alansim 1 Quote Link to comment Share on other sites More sharing options...
joeher133 Posted March 7, 2012 Report Share Posted March 7, 2012 I am using that definition after doing a lot backtesting I believe that most big moves occur after the London open at 3AM. My winning percentage has gone up since I stopped placing trades before 3AM. Today is a good example of that. Does everyone here use the same asian range definition of 1900 to 0300 EST as Steveg? After more than one year of attempting to produce discussions of MMM, we still have not got this "asian blue box" settings fixed down? ianf0ster 1 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.