yes buy is making more sense!
I totally forgot It was under the force of the gartley 127.2%CD/.886XA
Sanjoz,
I suggest you read the following Hedge trading spieler system derived from futures spread trading @ Forex Factory Bear in mind that LTCM was essentially a spread trading model. They typically generate good income 90% of the time, kinda like writing options, but the risk is a prolonged and extreme divergence in the correlation.
Benefits are the lack of stop requirements.
Drawback is the trade management can get fiddly due to inability to place stops or limits on the synthetic positions. (although i think some futures platforms can handle this.)
Anyway, I know it might not be exactly what you are aiming at, but you may find something of interest in there, in how to size accordingly to neutralise the base ccy.
You may also find the following site useful for any further work on correlations. Forex Correlation
All the best,
Modo
Cracking trades, congrats!
another cd leg trade. sorry for the delay. it goes too quick.
aud/usd ab=cd pattern
100 % cd in this case is a bit dangerous as a entry, because of the impulsive move up so far…
the nice thing is that most of the majour pairs have extended their moves against usd today…so we want to see some pullback…about 30 pips would be nice…hehe
By radofx at 2012-02-01
So I caught this blog extremely late on, but from the first 100? pages ive read, inspired me to look more into harmonic trading. Just in the past 72 hours, I have read everything I could get my hands on (Including the trade what you see book) as well as numerous youtube videos.
Anyway, I just tried my first trade (although not expecting much) Just wanted to put this out there so others can kindly critique it, as I am not 100% sure I set this up right.
As of right now I am up around 17 pips, and will put a stop on break even, once it hits 20 pips.
I look forward to posti
Hello All
My NZDUSD pattern failed, that said, it was a clean entry and you could have easily taken 80 pips. There are more patterns coming up in the nzd, one that is a butterfly of two major swings. I believe butterflys have a higher success rate. I post these on my meetpips journal.
Ive got a word file with all of TMB’s post and corresponding pictures he references, a great study material. I will post it in the next week when i have some more time for trading.
Any suggestions on some pairs I should focus on next week, Im only looking for three and cant decide which ones to study in depth. Anyone seeing a multitude of patterns form in one pair?
When yall draw your patterns…do yall make sure that:
- B was near a XA fib?
- C was near a AB fib?
And how much does that matter…to increase the probability of success?
add me pls
Where would you TP? (Already 30+ pips, SL to BE)
- Close now 30+ pips
[B]2. Close near 3090 for 90 pips[/B] - Close near convergence below 300+ pips?
eg 1h 100%CD/.886 xa, cd leg at the mo.
[QUOTE=Stupip;318671]Where would you TP? (Already 30+ pips, SL to BE)
- Close now 30+ pips
[B]2. Close near 3090 for 90 pips[/B] - Close near convergence below 300+ pips?
Haha, looks like a nice dilemma you have there Stupip. Of course I can’t answer your question, but I do believe this is good advice on profit taking from Max Gunthner’s [U]The Zurich Axioms[/U] ;
“You should assume that any set or series of events producing a gain for you will be of a short duration, and that your profit, therefore, won’t be extravagantly big.”
“The averages overwhelmingly favour quitting early.”
“To match against the time or two when the decision to quit early turns out wrong, there will be a dozen or two dozen times when it turns out right. In the long run, you make more money when you control your greed.”
I like that. Most of the time it is closed too late, expecially in a fakeout situation, and turns out from winning (small, like around 10-15 pips to loss.
another invisible gartley just closed 59 + pips…take proit order was at 65, but my beloved brocker took his 6 pips by slipping me…anyway…
eur/usd bullish gartley 30 min/h1
By radofx at 2012-02-02