I also got stopped trying something new (50fib from last post). Oh well.
Ok, back to normal trades. High volume pinbar closing near the bottom.
Sell on break of bottom wick.
Hello Petefader,
Very nice and helpful thread. Thank you very much. In response to what someone commented a couple pages ago about having a āwickā on one broker and no wick on another brokerā¦ I realized that different brokers have different āvolumeā or ātick volumeā as well. I was wondering which broker you use and recommend that has the most āaccurateā volume.
Thank you in advance
I think he uses MT4 with Go Trader or with IBFX. I use IBFX myself too - the unexpiring demo account is handy.
I use mostly IBFX. But I still keep couple other brokers open just for that if one broker gets glitched charts for some reason.
Funny day. 2 times that price goes and hits my stop. Then it goes in right direction and woulda hit tpā¦ Bad start.
Hi All,
Just wondering if anyone knows if the petefader room is still running to learn more on VSA trading?
Thanks
Forum rules says that we are not allowed to talk about it in here. But, you can learn from his vids too and leave comments in there: YouTube - Forex Trade Diary 1
Here is something I just traded that didnāt get stopped by one pipā¦ meh:
Red circles means I went short there, green ones means I closed positions there. Half in upper green and rest of it in lower.
Then yellow means I went long. Around 10 pips profit nowā¦
I went short there 'cause I saw double (if not triple) top. In second one I used fibs.
But when I went long, I didnāt really have one good reason. I just went in after some what double bottom.
Editā¦ Closed most of that long. Around 15 pipsā¦ I left little one running. BE locked. I do this only 'cause I need to go and do something.
For once, I end day early. 2 % gain today. Would have been around 3-4 %, but I had 2 positions that got stopped by that one pip, and then instantly reversed. But then there was 1 position that almost got stopped by 1 pip. Phew. I woulda actually get mad if that 3rd woulda got stopped same way like 2 earlier ones. I totally need to put my stops higher.
Just like 5 pips higher than usual. Or open position little later. hehe
Hey Nero, thanks for the quick response and the helpful steer. Iāll certainly give those vids a good look as if a picture tells a thousand words a video tells at least ten thousand.
I was able to contact Petefader throug skype and got all the info I needed so hopefully get myself involved in the near future.
Congrats on your 2% today. Always nice to hit targets early and have the rest of the day to catch up on all those things that take second place to fx
Cheers.
Right with you Nerokoso but on g/u.
The embedded video looks great! Thanks Babypips.
Well certainly the videos take this thread to a whole new level.
Nice work Pete!
I agreeā¦and in a few more posts Pete will be taken to a whole new level tooā¦Honorary FX-Men status
(Trade before this hit SL)
Short entry, 15m unable to break the 61.8 fib. 5 minute shows low volume candle.
Oh man. I missed 2 trades, both woulda been winning ones. =/
Aaaa, your second video. Sure is nice to watch it in here. Even thou I subscribed long time ago to your vids in YouTube, so I will get notification anyway.
Okayā¦ This is how I see this. Those 2 red squares, I think they show some weakness. Then those couldnāt break Daily R1.
Okay, then red circle is my entry point. It again failed to break R1. Aggressive entry yet again.
And, of course, when itās aggressive entry, stop is close and profit taking area is close. Green circle there, I took half from profitsā¦ Just when Iām typing this, other have got hit BE. Aggressive fast pips.
Maybe it will form triple top? Or break R1 now.
Iām short again. I guess itās pretty obv why. (I like to be aggressive?)
But this time I didnāt enter with big position. It looks way too easy to just jump in and take huge pips now. It looks way too easyā¦ This either is way too easy now, or then it perfect trap for Nero. Even thou it would be trap, I just banked some from that short again. And locked BE. About same entry points and exit points as in that earlier pic.
This pic here is 15 min. It just looks more sexy than 5min TF
Editā¦ Okay. Out from tradeā¦ 30 pips profit with rest of it. Wowā¦ It just was too easy. Now Iām kinda feeling bad that didnāt go with normal position. Well, pips are pips. Already made 1 %. And day just started.
Didnāt fall for this drop, bought gu at 1.6109 after stopping Vol and no supplyā¦was in accum zone from yesterday. Let me be lazy today and not post a chart lolā¦someone else can perhaps.
Chart and volume goes nuts, I donāt understand what is going on right now. Better not get involved.
Agreed. Itās a bloody mess out there. My g/u TPs were around +20 and +40. Iām probably done for the day.
The short-term interbank market is long and the hedge funds are short.
There are clusters of sell orders/stops between 1.6150 and 1.61850.
Needs a brave heart to lay a bet.