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Show me the money! [Swing Trading] Need some swing trading ideas? Want to share your own swing trade ideas? If you're the next Jerry Maguire and think you can show us the money, then this thread is for you. Also, discover your Forex trading personality in the School of Pipsology.

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  #271 (permalink)  
Old 02-19-2008, 08:36 PM
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Nice point daedalus! I never looked at it that way.

I hope everyone had a better day than I did. There's always tomorrow!

I'm not sure I understand you kagein. If a pair retraces below the 50% level, wouldn't that be the 61.8% level? Or do you mean pulls back up to the 50% level? Sorry, but I'm confused. Could you help me out.

Thanks kagein.
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  #272 (permalink)  
Old 02-19-2008, 09:31 PM
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Quote:
Originally Posted by Trade It View Post
Nice point daedalus! I never looked at it that way.

I hope everyone had a better day than I did. There's always tomorrow!

I'm not sure I understand you kagein. If a pair retraces below the 50% level, wouldn't that be the 61.8% level? Or do you mean pulls back up to the 50% level? Sorry, but I'm confused. Could you help me out.

Thanks kagein.
By below, i meant it tests the 61.8 level then falls in between the 38% and the 50% level.
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  #273 (permalink)  
Old 02-19-2008, 09:34 PM
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I was just curious, does anyone trade during the Asian session?
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  #274 (permalink)  
Old 02-19-2008, 09:44 PM
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I was just curious, does anyone trade during the Asian session?
This guy does.
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  #275 (permalink)  
Old 02-19-2008, 10:34 PM
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This is a nice little method you formulated here daedalus, but its missing something....a name!!...I'm thinking, daedalus' lines of profit!...
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  #276 (permalink)  
Old 02-20-2008, 02:13 PM
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The 62 and 78 are there to establish the overall trend, up, down, or sideways.

Thats it... nothing more. That being said, here is the most important point of all. These pullbacks work extremely well when the markets are trending. Sideways and consolidation points in the charts are not the best place to enter a position be it off a grid, or any other indicator. This means that the first thing we look for is either higher highs or lower lows with our MA/RSI bias.
Hi Daedalus,

I noticed in this post that you mentioned the MA/RSI bias...however, I haven't been able to find much reference to the RSI part...is there more, or do you still use it, and if so, could you give more info on how it would be used here?

Thanks
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  #277 (permalink)  
Old 02-20-2008, 02:58 PM
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This is a nice little method you formulated here daedalus, but its missing something....a name!!...I'm thinking, daedalus' lines of profit!...
I don't know, it lacks punch don't you think? I was thinking more along the lines of "The Official Forex System to Complete and Utter World Domination" or something like that...

Quote:
Originally Posted by Sweet Pip View Post
Hi Daedalus,

I noticed in this post that you mentioned the MA/RSI bias...however, I haven't been able to find much reference to the RSI part...is there more, or do you still use it, and if so, could you give more info on how it would be used here?

Thanks
I used to use RSI on my longer term charts to confirm trend bias. But frankly, I found it to be superfluous, and in some of the deep pullbacks, RSI wouldn't confirm, even though the move was genuine and you missed out on a lot of great trades. If you wanted to do anything to add a trend confirm, I would through the RSI up on a daily chart of whatever symbol your trading and just trade in that direction (>50 bullish, <50 bearish). However, I think this is overkill and the MA's do a fine job of keeping you on the right side of the trend.

I am actually using a 50ema and 100ema these days. The 62/78's work just fine, just as any setting would. Don't get caught up on the ma settings. They account for about 5% of our method. Switching them will miss a certain set of trades and get you in on a different set, but over the same 100 trades the outcome is going to be roughly the same!
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  #278 (permalink)  
Old 02-20-2008, 03:07 PM
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Got a couple questions on what my charts look like and how much i'm looking at at any given time...

Heres my actual screen. Note that at the bottom this is just one tab of 6 different timeframes i'm trading, all the setups on the other tabs are identicle, only the timeframe changes.

BEFORE YOU ASK! The TTM Value chart indicator on my charts is just a different way of looking at stochastics and is proprietary to the tradestation platform (ie. not available to 99% of you)... But don't get caught up on it... its just another overbought/oversold stochastic look alike.

I uploaded this on another server so you could see it full size...

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  #279 (permalink)  
Old 02-22-2008, 11:34 AM
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I hope everyone's trades are going their way!

I got a quick question. If price breaks the 87% level and closes below it, the trend is broken right? So is that indicator to start drawing grids in the other direction? Or stay out a while and see what plays out?
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  #280 (permalink)  
Old 02-22-2008, 12:19 PM
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I hope everyone's trades are going their way!

I got a quick question. If price breaks the 87% level and closes below it, the trend is broken right? So is that indicator to start drawing grids in the other direction? Or stay out a while and see what plays out?
I would personally wait till the move has passed the 100% level before i consider redrawing my fibs.
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