Comments on: No surprises. http://fxmadness.com/2010/01/28/general/no-surprises-2/ This blog goes where few traders dare - the exciting world of Forex outside the dollar! Fri, 10 Sep 2010 08:11:46 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Fallout continues | fxmadness.com http://fxmadness.com/2010/01/28/general/no-surprises-2/comment-page-1/#comment-5747 Fallout continues | fxmadness.com Wed, 28 Apr 2010 03:03:29 +0000 http://fxmadness.com/2010/01/28/general/no-surprises-2/#comment-5747 [...] Going to wait until close of that hourly bar and see if trends have legs. Something like last time, getting in on confirmation of trend (if there is one). If Dollar moves, Yen will probably jump also, such has been pattern over several [...] [...] Going to wait until close of that hourly bar and see if trends have legs. Something like last time, getting in on confirmation of trend (if there is one). If Dollar moves, Yen will probably jump also, such has been pattern over several [...]

]]> By: admin http://fxmadness.com/2010/01/28/general/no-surprises-2/comment-page-1/#comment-5058 admin Fri, 29 Jan 2010 05:19:17 +0000 http://fxmadness.com/2010/01/28/general/no-surprises-2/#comment-5058 Hi Jason. For GBP-JPY the initial stop was 144.42. Trade had rather limited potential, so couldn't risk any more. Once it started to move, it looked like was going to get to target. For CAD-JPY I used a mental stop of arbitrary 50 pips. Smaller time frame, 15 M had a minor low there, but in reality, GBP-JPY was the guide. It was way ahead in the move, so any break there would also make me close CAD-JPY and EUR-JPY. I mentioned before that I'm rather liberal with stops and focus more on general probabilities of the pattern. There is nothing wrong with having tight stops, but you have to accept from the start that failure ratio will be higher. However, in this case you need to focus on risk/reward ratio more then I do. Also, one needs more discipline to sit on winning trades, trying to maximize gains, in order to compensate for more stopped out trades. Hi Jason.
For GBP-JPY the initial stop was 144.42. Trade had rather limited potential, so couldn’t risk any more. Once it started to move, it looked like was going to get to target. For CAD-JPY I used a mental stop of arbitrary 50 pips. Smaller time frame, 15 M had a minor low there, but in reality, GBP-JPY was the guide. It was way ahead in the move, so any break there would also make me close CAD-JPY and EUR-JPY.
I mentioned before that I’m rather liberal with stops and focus more on general probabilities of the pattern.
There is nothing wrong with having tight stops, but you have to accept from the start that failure ratio will be higher. However, in this case you need to focus on risk/reward ratio more then I do. Also, one needs more discipline to sit on winning trades, trying to maximize gains, in order to compensate for more stopped out trades.

]]> By: admin http://fxmadness.com/2010/01/28/general/no-surprises-2/comment-page-1/#comment-5057 admin Fri, 29 Jan 2010 05:02:37 +0000 http://fxmadness.com/2010/01/28/general/no-surprises-2/#comment-5057 Hi Brad, Yes, the EUR-CAD I cancelled the trade at 1.4800 because Previous move didn't go close enough to 1.51. This made the 4H chart look more of a triangle, which I don't like to trade. Chart looks different now that when I first mentioned it and doesn't develop the way I expected. Even 1H chart is questionable right now with 1.49 proving a resistance. I will most likely not touch it on Friday at all. Will see what happens during European session. Hi Brad,
Yes, the EUR-CAD I cancelled the trade at 1.4800 because Previous move didn’t go close enough to 1.51. This made the 4H chart look more of a triangle, which I don’t like to trade. Chart looks different now that when I first mentioned it and doesn’t develop the way I expected.
Even 1H chart is questionable right now with 1.49 proving a resistance. I will most likely not touch it on Friday at all. Will see what happens during European session.

]]> By: jason http://fxmadness.com/2010/01/28/general/no-surprises-2/comment-page-1/#comment-5056 jason Fri, 29 Jan 2010 03:02:28 +0000 http://fxmadness.com/2010/01/28/general/no-surprises-2/#comment-5056 Mike - thanks for the posts. I'm think I'm starting to get a feel for the reversal patterns as shown above. I'm interested to know where you place your stops. I always want to place my stops to close. On the CAD/JPY trade I assume your stop below the recent lows at about 83.60. On the GBP/JPY trade did you have your stop below the 143.62 low or below the swing low 144.42 prior to entry? Mike – thanks for the posts. I’m think I’m starting to get a feel for the reversal patterns as shown above.

I’m interested to know where you place your stops. I always want to place my stops to close. On the CAD/JPY trade I assume your stop below the recent lows at about 83.60. On the GBP/JPY trade did you have your stop below the 143.62 low or below the swing low 144.42 prior to entry?

]]> By: Brad http://fxmadness.com/2010/01/28/general/no-surprises-2/comment-page-1/#comment-5054 Brad Thu, 28 Jan 2010 22:59:14 +0000 http://fxmadness.com/2010/01/28/general/no-surprises-2/#comment-5054 Hi Mike, For the EURCAD trade, did you cancel it because the run up to 1.51 was not strong enough and as such not yet confirmed your suspicions of a reversal in this cross pair? And are you now watching the 1H chart to determine whether it has the legs to break through 1.5000? Cheers Brad Hi Mike,

For the EURCAD trade, did you cancel it because the run up to 1.51 was not strong enough and as such not yet confirmed your suspicions of a reversal in this cross pair? And are you now watching the 1H chart to determine whether it has the legs to break through 1.5000?

Cheers

Brad

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