Although I have not been a prolific poster in her thread, I have read through it a few times...... and learned a lot from it.... and I will miss her expertise and guidance.
I'd like to say that I've always held this thread (Tess & Jocelyn) in highest esteem even though I never participated...probably cause they always seemed so far above where I was/am at. I still reference this thread quite often and one day would like to get somewhere in their realm even though that seems like a tall glass to fill
Success is getting what you want...Happiness is wanting what you get!
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I would like to echo the kind comments written by other members. There's just a wealth of information contained in the original thread. Thanks to Tess, Jocelyn and Andre my trading has improved enough for me to land a prop trading position at a private fund. Even some of our experienced traders found their material very interesting, so to all those who haven't read the original thread, i strongly recommend you do so
Its unfortunate that they are unable to contribute as they did before, so i thought i might throw up a chart or two when ive got the time and hopefully share some ideas. I trade the gbp future as opposed to the spot rate. There are some differences but the charts look more or less the same, so it shouldnt be too much of a problem.
Hope the markets are treating you guys well.
I was a quiet follower of the original ATT threads, and learnt so much from all the contributors (to whom I am truly grateful). While it has been sad to see them move onto other projects, it did make me focus on my own trading a lot more, rather than following and hanging on every post.
I have 2 setups I trade....nothing else. It generally gets me in on 1 or 2 trades at the Europe open as volume picks up and provides decent R:R opportunities....again this is the only time I trade as I know this gives me a higher odds chance of my set-up performing.
I took 2 GU trades yesterday, both short on re-tests of S/R breaks - I had my S/R markers set, I looked to get triggered in with the downward momentum from the US/Tokyo sessions as the increased vol started into Europe session. My triggers are IB's or SStars/hammers etc on either the 5 or 15min.
And importantly I had clear targets (prev weekly low or next S/R level) and clear levels (LH's) to hide my stops.
I dont have access to any special fundie info other than what I follow on my local rag/internet. I dont try to look for a reason fundamentally for each 50pip move in a pair as I think I would end up having a melt down. I simply trade 2 set-ups as and when they present themselves.
Everything on the attached chart was the simple application of the things I learnt in the ATT threads.
Last edited by ryan501; 12-17-2009 at 08:58 PM.
As A8T says…“You know how they’re doing it……It’s all there in the 2 threads.”
And it is…and what’s more, those lessons are repeated over and over…and over.
I took away small lessons each week/month….it really was one small piece at a time – and I still do….passages which today I don’t fully grasp, or brush/pass over, I know I will come back to in another month or more and a small light will go on…..and I will say…“ahhhhhh”. It’s all a part of my ongoing learning curve.
When you Cowboys/Indians come across the authors in your travels, please pass on my sincerest thanks.
Last edited by ryan501; 12-18-2009 at 07:43 PM.
If I'm not mistaken this pair has also been trading atop it's Weekly open all week which is back at 131.59 & is also trading atop todays open at 132.02, so your long has a lot going for it this morning.
I note that the audusd & usdjpy also bounced off their respective previous weekly high levels during the last 24 hours trade too.
I suppose if you’re watching a few of the more popular traded pairs they’ll be one or two moving around those levels at any one time over a typical weeks action.
Nice follow through today on your eurjpy trade.
Here is my take on the AUD/USD from yesterday (note I didnt take this....wasnt even watching, but its another nice example as you point out, and I like doing this sort of "after-the-fact" analysis to print out and file away as set-up examples - here I have taken off the prev Day H/L's).
Uptrend on the higher TF's so only looking for longs, retrace to both the previous week high and the previous month low (these two areas separated by 7pips) - so potentially a nice strong zone with discount buyers waiting.
Coming into Europe Opening period (shaded area) is the time i would have been looking to trigger in long....and numerous signals on either the 5 or 15min - either with pins/hammers down at the Month low area or waiting a little later for a break up above a previous LH.
Place for Stops, targets - all the boxes are checked.