CatFx50 - page 558

nina
2768
nina  
Soheilkhan:
Nina,

Thank you for the post. I lost 110 pips because I thought a retracement is coming our way. You were absolutley right, It just could've happened to a newbie like me. I lost my rules and I lost my money. It was a very big/sad punishment. But a Big experince for me to continue to work and study so these things won't happen again.

Thanx again.

Best ragards,

Soheil

Hi, Soheilkhan!!

I'm really sorry for your lost. We all "think and wish": we are human beings.

We'll have a retrace, Soheilkhan, but this was not the day yet. Cable has gone up 410 pips from yesterday without a retrace. Well, it had one today from 1,8365 to 1,8300 (hourly). With simple and easy TA, you could have bought it at 1,8366 (hourly) for a shot first to 1,8405 and then to 1,8500.

Soheilkhan, trade what you see, please, and do not wish. I've learned with a lot of pain what I'm saying.

And do not listen to snake oil sellers.

Nina

jwoger
180
jwoger  
nina:
Hi!

Today's Recap:

Level 4 buy on EURUSD (14:30cet) @ 1,2725. Made a high at 1,2790. +65 pips.

Level 4 sell on USDCHF (14:30cet) @ 1,2317. Made a low at 1,2240. +77 pips.

Level 4 buy on GBPUSD (14:00cet) @ 1.8369. Made a high at 1,8501. +132 pips.

TOTAL: + 274 pips.

Nina

Sorry for not doing a recap yesterday. I was busy. And i was just going to do todays recap. oh well. Thanks nina.

reemul99
177
reemul99  
nina:
Hi!

Today's Recap:

Level 4 buy on EURUSD (14:30cet) @ 1,2725. Made a high at 1,2790. +65 pips.

Level 4 sell on USDCHF (14:30cet) @ 1,2317. Made a low at 1,2240. +77 pips.

Level 4 buy on GBPUSD (14:00cet) @ 1.8369. Made a high at 1,8501. +132 pips.

TOTAL: + 274 pips.

Nina

Couple of revisions:

because you cant know that the level 4 candle will break the previous high/low until it actually does the break, the entry points should be revised as follows:

Level 4 buy on EURUSD (14:30cet) @ 1,2733 (previous high +1 pip). Made a high at 1,2790. +55 pips (including -2 pip spread).

Level 4 sell on USDCHF (14:30cet) @ 1,2301 (previous high +1 pip). Made a low at 1,2240. +57 pips (including -4 pip spread).

Level 4 buy on GBPUSD (14:00cet) @ 1.8366 (previous high +1 pip). Made a high at 1,8501. +132 pips (including -3 pip spread) (** I show a high of 1.8494 - but InterbankFX is having technical issues).

Total: + 244 (still damn good )

nina
2768
nina  
reemul99:
Couple of revisions:

because you cant know that the level 4 candle will break the previous high/low until it actually does the break, the entry points should be revised as follows:

Level 4 buy on EURUSD (14:30cet) @ 1,2733 (previous high +1 pip). Made a high at 1,2790. +55 pips (including -2 pip spread).

Level 4 sell on USDCHF (14:30cet) @ 1,2301 (previous high +1 pip). Made a low at 1,2240. +57 pips (including -4 pip spread).

Level 4 buy on GBPUSD (14:00cet) @ 1.8366 (previous high +1 pip). Made a high at 1,8501. +132 pips (including -3 pip spread) (** I show a high of 1.8494 - but InterbankFX is having technical issues).

Total: + 244 (still damn good )

Hi, Remul99!!

To take a level 4 trade we need 2 or 3 bars at least with the same or slightish the same low/high. The more bars, though, the better and with our beloved strength.

EURUSD, you have a high at 1,2733 (07:30cet) and since then you have a consolidation period of 13 bars, that is 6 hours and 30 minutes. During all that time, the maximum high is 1,2724 (09:30cet). From there you have 9 bars. The maximum high of those 9 bars is 1,2720 (12:00cet).

At 14:30cet bar is when we have the break out with strength. We could've gone long with an entry limit buy at 1.2721 (news time), but as the 14cet bar closed at 1.2718, I decided to give more room and took the other consolidation high: 1,2724 + 1 = 1,2725. We have a difference of 8 pips. My way it could be riskier because the last highest high was 1,2733 (07:30bar) and EURUSD could have topped there. But as I close always some when I have 15 pips, those 8 are important for me.

Let me say it with other words: lets imagine that the highest high was 1.2753at 07:30cet. I think you wouldn't have waited.

The key here, Remul99, is the strength, the rush, the money. We had money at 14:30cet and all the last highs were smashed.

I can say the same on USDCHF, but with an important think to stress: from where I said we had a level 4 buy to where you say (the lowest low) there are 16 pips.

I only traded cable today. EURGBP gave me the clue. As I was full loaded, I had to monitor second by second my trade. I made only +149 pips.

Nina

Files:
cable_1.jpg 31 kb
cable_2.jpg 9 kb
reemul99
177
reemul99  
nina:

EURGBP gave me the clue

Hi Nina

What was that ?

jwoger
180
jwoger  
nina:
Hi, Remul99!!

To take a level 4 trade we need 2 or 3 bars at least with the same or slightish the same low/high. The more bars, though, the better and with our beloved strength.

EURUSD, you have a high at 1,2733 (07:30cet) and since then you have a consolidation period of 13 bars, that is 6 hours and 30 minutes. During all that time, the maximum high is 1,2724 (09:30cet). From there you have 9 bars. The maximum high of those 9 bars is 1,2720 (12:00cet).

At 14:30cet bar is when we have the break out with strength. We could've gone long with an entry limit buy at 1.2721 (news time), but as the 14cet bar closed at 1.2718, I decided to give more room and took the other consolidation high: 1,2724 + 1 = 1,2725. We have a difference of 8 pips. My way it could be riskier because the last highest high was 1,2733 (07:30bar) and EURUSD could have topped there. But as I close always some when I have 15 pips, those 8 are important for me.

Let me say it with other words: lets imagine that the highest high was 1.2753at 07:30cet. I think you wouldn't have waited.

The key here, Remul99, is the strength, the rush, the money. We had money at 14:30cet and all the last highs were smashed.

I can say the same on USDCHF, but with an important think to stress: from where I said we had a level 4 buy to where you say (the lowest low) there are 16 pips.

I only traded cable today. EURGBP gave me the clue. As I was full loaded, I had to monitor second by second my trade. I made only +149 pips.

Nina

So nina, do you recommend placing level 4 trades with entry orders? or is that how you trade them?

nina
2768
nina  
reemul99:
Hi Nina What was that ?

Look at EURGBP chart and you will see it makes a top at 09:00cet. That was my clue.

Nina

reemul99
177
reemul99  

LEVEL 4's

I guess the problem with level 4 trades is (at least in my mind) this:

The keys for level 4 trades is that the move have strength and be above or below the highest high or lowest low...

For me, when I'm watching the candles go up and down, I dont really know if this candle, [that is coming to the top of the last high - or to the bottom of the last low] has strength...

...By the time I see that it does, in fact, have the strength it needs to be a valid level 4 trade, I'm afraid to enter because it's (usually) gone a good 10+ pips above that magic break point.

So I sit aside and wait for another oppurtunity.

Has anyone successfully traded level 4 enties consistantly and who can provide some insight into this complex issue?

I know that when going over the days recaps, its VERY obvious what was a level 1,2,3,4 --- but (for the level 4's) its very very hard to see what it IS WHILE its HAPPENING and not miss the 'pip bus' (if you know what I mean).

Thanks !

nina
2768
nina  
jwoger:
So nina, do you recommend placing level 4 trades with entry orders? or is that how you trade them?

Jwoger, if you look at when I bought cable, you'll see that I did it when cable's news were released and R1 was holding it. So, if there is a rush up when we have good news, we better entry limit orders 15" before the release.

Let me say I had I limit sell placed too at 1,8299.

I trade the news too, jwoger, but this will be another thread and I think I had told enough.

Jwoger, to trade the news is a tough think: you can win a lot, a lot, friend, a lot. Listen: I buy 100 lots of GBPUSD and I go only for 5 pips. How much is it?

$5,000.

But if it does not make those 5? My broker don't let me place a limit buy or sell with a stop of less than 24 pips. So, you are out with -24 = $24,000.

Ok, lets forget that.

Nina

nina
2768
nina  
reemul99:
I guess the problem with level 4 trades is (at least in my mind) this:

The keys for level 4 trades is that the move have strength and be above or below the highest high or lowest low...

For me, when I'm watching the candles go up and down, I dont really know if this candle, [that is coming to the top of the last high - or to the bottom of the last low] has strength...

...By the time I see that it does, in fact, have the strength it needs to be a valid level 4 trade, I'm afraid to enter because it's (usually) gone a good 10+ pips above that magic break point.

So I sit aside and wait for another oppurtunity.

Has anyone successfully traded level 4 enties consistantly and who can provide some insight into this complex issue?

I know that when going over the days recaps, its VERY obvious what was a level 1,2,3,4 --- but (for the level 4's) its very very hard to see what it IS WHILE its HAPPENING and not miss the 'pip bus' (if you know what I mean).

Thanks !

Hi!

I like that of the "pip bus". Right, Remul, level 4 are break outs and break out needs strength, a rush. News releases give them usually and you will see that histo bar gets longer.

Nina