Redsox11's Posts

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Business › Re: Forex Trade Alerts: Season 18 by redsox11: 4:04pm On Feb 07, 2018

USDCAD took out 2 breakevens , 2 more still alive.
Put in some orders on JPY I mentioned earlier today.

Bollinger:
.

Man how are you? Hope you're doing great.

Business › Re: Forex Trade Alerts: Season 18 by redsox11: 9:52am On Feb 07, 2018

U/Cad set to breakeven.
USDCAD on daily is looking good for some serious sell off but because of the scale/TF it might take few days for that to happen.

My attempt on defining 'SCALE' = If you look at a set up;

say on 5mins bar, you know it will take couple of 5mins bar to play out. =>3-4 bars will be 15-20mins to play out.
say on 4hrs bar, you know it will take couple of 4hrs bar to play out. =>3-4bars will be 12-16 hours to play out.

Business › Re: Forex Trade Alerts: Season 18 by redsox11: 11:54pm On Feb 06, 2018

I like both for buy but not at that price as the stop is too far away. I'll watch to see if I can get in on a retrace at a good price.

Business › Re: Forex Trade Alerts: Season 18 by redsox11: 11:49pm On Feb 06, 2018

U/cad and U/J. U/J heading back to my entry, I rather take breakeven than close right now. 1 more retest on U/Cad then I'm setting to breakeven.

Business › Re: Forex Trade Alerts: Season 18 by redsox11: 9:21am On Feb 06, 2018

Another and final shot on USDCAD?? ANYBODY??

Business › Re: Forex Trade Alerts: Season 18 by redsox11: 8:22am On Feb 06, 2018

If you SL, risk to reward is 50:1 , you need your system to be 98% accurate to stay above water.
If you SL, risk to reward is 10:1 , you need your system to be 91% accurate to be profitable.
etc...

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Business › Re: Forex Trade Alerts: Season 18 by redsox11: 11:40pm On Feb 05, 2018

I take a lot of hit "sometimes", I usually don't bother much (You've got to learn how to take losses without sweating your pant).

If I'm going to sit and monitor my trades I can get better entries and miss some few moves, but I just want to get in on the general direction of the move with tight enough stop as I can get.

Usd/Jpy chart.

Business › Re: Forex Trade Alerts: Season 18 by redsox11: 11:24pm On Feb 05, 2018

redsox11:
USD/JPY and USD/CAD looks interesting for sell. Out of G/Cad.

Anyone looking at CAD/JPY? I need to find how yearly chart looks like... The monthly chart looks like a serious sell off is brewing , some 600 - 1000pips in the making.

Cad/Jpy fall is here already , I need a good retrace on 4hours to join the ride.

I mentioned U/cad and U/J earlier today, entered both... almost same set up but U/cad just show me say price is the boss.

Recap ;
Usd/Cad double top didn't hold, stop hit.
G/Chf hit stop from last week, missed re-entry because the stop was little wild.
U/J doing very good.

Business › Re: Forex Trade Alerts: Season 18 by redsox11: 4:24pm On Feb 05, 2018

Simple rules ;
15mins TF.

Find Bias, simple things to look for,
Wait for set up, 1 trade per pair, 2 max.

Watchlist, 3-5 pairs to watch...

Trade management, split trade... SL = 5-7pips , TP = 50 / 100 pips.

Breakeven after some good move away.

R:R -- 1:10 ... 1:20

I'll try to report his progress when I can.

Ps: Sample chart below. Don't get carried away most won't turn out that way.

Business › Re: Forex Trade Alerts: Season 18 by redsox11: 4:14pm On Feb 05, 2018

I've been teaching a friend how to trade forex, he is pretty new and doesn't know a lot yet. He is good/learning different terms and few other things I think is important.

Set up a demo account for him to run, gave him what to look out for and trade. I'll see how he can follow simple set of rules at the end of the month.

You do know some find it very hard to follow simple rules, they get jumpy when the market is moving and forget about the rules to follow.

I'm not being mr nice guy though as I'm also using him/opportunity to test out some ideas I have but can't work with right now.

Business › Re: Forex Trade Alerts: Season 18 by redsox11: 4:02pm On Feb 05, 2018

teejaysmarty1:
There you go brother! the 3months..

The 6months is ripe for shorts . your absolutely spot on!

Thanks for the charts... Couldn't get a read off them like I did on the monthly chart (the hangman on 3months chart is not bad tho). When that happens, I just ignore and find another chart I could read

Business › Re: Forex Trade Alerts: Season 18 by redsox11: 12:26pm On Feb 05, 2018*

There was a thread on FF that I read in the past , forgot the name now, he deleted the thread later , I think you can find it as extracted post now.

The man is trading aggressively but definitely a top notch trader. Enter trades with 5 pips stop loss , take profit always 200 pips. His account balance was reading close to half a million dollars. A lot of few losses and breakeven trades but still highly profitable. Using SR mainly for entry.

If you're looking to get profitable in forex the easy way. Find yourself a good methodology/system that provide you with good RR. I'm telling you it's the easiest way to go.

Ps: I'm not saying another method doesn't work. Just my 2 cents.

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Business › Re: Forex Trade Alerts: Season 18 by redsox11: 12:12pm On Feb 05, 2018

teejaysmarty1:
my CADJPY DAILY analysis -: I am looking for a reason to buy TODAY.

my CADJPY YEARLY analysis :- You are spot on with the downside.it is brewing to sell but mine will be ready for a sell on the next candlestick
(probably 2019).
* i have got no analysis on the monthly as it stands.

*Attached is the yearly chart.
Cheers!

Muchas gracias for the yearly chart. I think it's too far off, if it's possible to post 3month and 6month chart, if that's available.

Business › Re: Forex Trade Alerts: Season 18 by redsox11: 12:01pm On Feb 05, 2018

Shevychen2:
Daily 80% of the time but can step down to as low as hourly to find retracements if I miss a move. VaR means value at risk (not just what your stop loss risk is). It is an important metric that also affects your Risk Stability. All parts of what savvy investors look at as elements of a traders money management. Industry standard for VaR is that it should be below 20% at all times.

I looked up VaR, thanks. Daily is pretty stable and gives you ample time to plan your trades. I personally won't trade off it directly because of large SL. I'll usually enter daily/weekly TF with 20-30pips stop loss, 40pips max. But need to allow profit run because trades are taking off daily/weekly time-frame.

Shevychen2:
I have added into trades on level breakouts in my direction three times. It worked nicely once, turned a winning collection of trades to losers the other times because the break wasn't sustained.

That shouldn't happen often with proper trade management, applying breakeven stops.

Shevychen2:
Additionally, I don't think it is for people that are happy with 5-20% ROI in a month. So if a trader has a healthy 5-6 figure account and is managing another even bigger 6 figure to 7 figures in AuM, where the investors are watching keenly, I don't think the risk is worth it.. But like you said, anyone that works!

Can't argue with you there , this is about pushing boundaries for me.

Business › Re: Forex Trade Alerts: Season 18 by redsox11: 3:16am On Feb 05, 2018

USD/JPY and USD/CAD looks interesting for sell. Out of G/Cad.

Anyone looking at CAD/JPY? I need to find how yearly chart looks like... The monthly chart looks like a serious sell off is brewing , some 600 - 1000pips in the making.

Business › Re: Forex Trade Alerts: Season 18 by redsox11: 8:03pm On Feb 04, 2018

Stopped out on Nzd/Jpy

Business › Re: Forex Trade Alerts: Season 18 by redsox11: 8:00pm On Feb 04, 2018

Shevychen2:
By stacking into the direction right? Messes up my VaR and you can easily end with a net loss when a sudden retracement hits. Kudos to anyone that can consistently do it.

It's not for everybody, I know. As you might be very comfortable with what you are doing and make a lot of money from it. Why change something that is not broken.

Do you trade strictly on daily & upward?

Business › Re: Forex Trade Alerts: Season 18 by redsox11: 7:55pm On Feb 04, 2018

Shevychen2:
By stacking into the direction right? Messes up my VaR and you can easily end with a net loss when a sudden retracement hits. Kudos to anyone that can consistently do it.

What’s VaR?

There’s a way to go about it to be somewhat successful, obviously one has to know what he/she is doing. Stack only when there is a trend in place. It’s all about risk control for me personally, entry with tight and minimum risk and leaving profit to run.

Before stacking newer entries, last entry usually goes to breakeven.

The advantage is that , if the trend doesn’t move/continue in one direction, you don’t have new entries. So as the market is moving, you are stacking new entries in the right direction, if market stop moving you stop with the new entry.

Of course it’s easier said than done and definitely not for noob traders. It could be done as I have seen few do it and I’m working on getting it done.

Ps: Sudden retracement hits; it's a 50/50 thing ... it could as well be sudden break-out in ones favour. We just tend to notice the ones that is working against us / we don't talk about the ones that break away into a lot of extra pips in our favour.

Business › Re: Forex Trade Alerts: Season 18 by redsox11: 8:41pm On Feb 01, 2018

I've got a lot of buffer with G/A in the bag, to take small losses here and there before I got in on another ride. A true professional would have banked nothing less than few thousand pips on that run... I've got a long way to go.

Business › Re: Forex Trade Alerts: Season 18 by redsox11: 9:45am On Feb 01, 2018

teejaysmarty1:
Hey guys,Looking for a bounce up on AUDCAD DAILY around 9,861

At good SR, I wouldn't jump in though without seeing some form of weakness. Might bounce up a little, only to fall more. My guess.

Business › Re: Forex Trade Alerts: Season 18 by redsox11: 9:41am On Feb 01, 2018

Didn't get any retrace on E/J... Enjoying some Aud weakness on GA.
Watching G/Chf, move not so choppy on daily view.

Business › Re: Forex Trade Alerts: Season 18 by redsox11: 6:51pm On Jan 31, 2018

G/A came close to breakeven. E/J hit my stop.. I'm bias long now , will look to enter tomorrow on a big retrace with tight SL.

Business › Re: Forex Trade Alerts: Season 18 by redsox11: 11:54pm On Jan 30, 2018*

EJ... You've got to watch it bounce, don't trade blind.
GA progressing well, shame I couldn't stalk ((
'Scouting' sell EJ

Business › Re: Forex Trade Alerts: Season 18 by redsox11: 11:48pm On Jan 30, 2018

Incase someone wants to learn how to play bounce. You should figure it out.
Note- Wait and see the bounce.

Ps: I like to sell when new fx traders are buying, with tight SL. With bounce, if you go to next lower TF, you should see M/W formation

Business › Re: Forex Trade Alerts: Season 18 by redsox11: 11:45pm On Jan 30, 2018

PIPnator:
When a top gun commends your analysis, then you know you are doing/getting better/improving.
But mehn, I missed that trade. E pain meee

Seems we are watching same thing on EJ. GJ too has same structure/pattern for sell but remotely, I feel GJ might take out yesterdays high, hit 154.390 before the sell.

It's getting a whole lot better in this thread now, a lot of people contributing. I'm loving your simple yet power chart.
A lot of us here are benefiting from it.

Business › Re: Forex Trade Alerts: Season 18 by redsox11: 5:38pm On Jan 30, 2018

PIPnator:
EURGBP doing well as posted earlier but mehn, I missed it.
Hard to forgive myself for the miss! I pray it retraces for another sell.

Just thought I'd have a look, don't have it on my watchlist. Beautiful intraday sell off, right from the start of the day, with nice M formation on 15mins TF.

Business › Re: Forex Trade Alerts: Season 18 by redsox11: 5:34pm On Jan 30, 2018

Looking for bounce off on E/J yesterday high with tight SL and open TP.

Business › Re: Forex Trade Alerts: Season 18 by redsox11: 11:24pm On Jan 28, 2018

Bollinger:
FXCM wouldn't dare do it to someone residing in the US. It is always a good idea though to save ones account statement monthly just in case.

How do you handle the no hedging on a pair. Or you don't usually enter buy and sell on the same pair?

Business › Re: Forex Trade Alerts: Season 18 by redsox11: 11:19pm On Jan 28, 2018*

Few gaps here and there. Hope the M formation on GU stay intact for a while. Jump ship on UJ.Trying to get into EU earlier, be warry if the LH doesn't hold. Holding some good trades on GA, will try hold for 2 more days to see how things turn out.

Update, Closed EU breakeven, labor sell. Some strength on E.

Business › Re: Forex Trade Alerts: Season 18 by redsox11: 1:55am On Jan 27, 2018

Rough details and charts.

With basic forex knowledge;

The purple area, one should know not to look for LONG, with LH(Lower High) being printed.
The Blue box, -where to anticipate good move, might / might not happen.

Have a great weekend guys.

Business › Re: Forex Trade Alerts: Season 18 by redsox11: 1:00am On Jan 27, 2018

Should be picking trade that could move minimum +100pips, usually +200pips... ... +500pips -to- +1000pips once in a while.

Getting the minimum is not so difficult, if you know what to look for and no need chasing trades all over the place "by trying to enter every trade set up on 15mins chart".

Look at the bigger picture, wait for market/price to enter your 'area of interest' and zoom into lower TF to enter with tight SL. Trade off is, you won't get a lot of trades, fewer good and bad trades.

Ps: Why I'm working on learning stalking now, so I could ride my good trades and take small losses on the bad ones.
Ps: Re-entered the ga and some other. Great week.

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Business › Re: Forex Trade Alerts: Season 18 by redsox11: 12:36am On Jan 27, 2018

Picky, will even be more as time goes by.

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