Forex Tradingwithrayner

[tradingwithrayner]

Well talking about charts in hindsight is easy. We can all talk like experts in hindsight. Here is a live AUDUSD trade. You can see the market gapped down on open. However, it quickly covered the gap and made higher highs and higher lows. I bought on a dip. Let's see how this plays out. I will be scaling out and moving to break even on the final leg of the trade. If it gets that far

Feel free to posts here as i welcome the view of other traders.

But with regards to flooding this thread here with my entries and exits is not something i intend to do.

I will stop here now, peace out

Rayner

 

[tradingwithrayner]

The FTSE is fast heading towards a level of resistance – no less than the pen-ultimate level to its all-time-high of 6950 (last tested in January 2000). Getting ready for a sell set-up at 14 Year High for FTSE100 Rayner on the triple top?

Spectre of 1929 crash looms over FTSE 100 as traders take on record debts - Telegraph

Ahh the FTSE.

Taking longs would not be wise here as resistance is just ahead.

Take a short now would be premature for me either.

Speaking of indices, i'm liking the Nasdaq and S&P at the moment.

Definitely one of the strongest among the other indices.

Do check them out!

Rayner

 

[prudent76]

Entries and Exits, the ultimate judge

Feel free to posts here as i welcome the view of other traders.

But with regards to flooding this thread here with my entries and exits is not something i intend to do.

I will stop here now, peace out

Rayner

Entries and exits, over many trades is the ultimate judge of whether your thought processes were correct yes?
By my highly sophisticated back of napkin calculation, my CONSERVATIVE guesstimation of your losses so far are as follows(Feel free to correct me),
3 losses of x 2 ATR (50 pips assuming EUR USD) x 2lots = $4800
1 loss of a 100 pips x 2 lots=$3200
Which brings your total losses to $8000, that's assuming you are trading real money.

***This is speculation ONLY. I speculate only because no facts are given.
I assume he is using lot size of 2 because I that's what he shows on some of his charts
I also assume he uses 2 ATR stop losses because that's what he said in one of his videos. Based on the figure he used for ATR, I believe he derives his ATR figure from 4 hr charts, but this is all speculation

 

[Knight_Rider]

Ahh the FTSE.

Taking longs would not be wise here as resistance is just ahead.

Take a short now would be premature for me either.

Speaking of indices, i'm liking the Nasdaq and S&P at the moment.

Definitely one of the strongest among the other indices.

Do check them out!

Rayner

I thought you'll put a sell limit at the 9000 level where everybody's stop loss is. TP at previous low of 4000. Definitely better then those 2 you like.

 

[tradingwithrayner]

I thought you'll put a sell limit at the 9000 level where everybody's stop loss is. TP at previous low of 4000. Definitely better then those 2 you like.

I would consider having a sell limit if i get a clear downtrend but not the case for this product

Also notice we have higher highs heading into resistance?

This tells me the bulls are refusing to back down.

This is a weekly chart and it does gives me a perspective on what to look for on the lower time frame. But i will stay out of this trade given my own trading plan.

A sell at resistance isn't wrong but the next question would be where would you like to place your Stoploss?

Rayner

 

[Knight_Rider]

I would consider having a sell limit if i get a clear downtrend but not the case for this product

Also notice we have higher highs heading into resistance?

This tells me the bulls are refusing to back down.

This is a weekly chart and it does gives me a perspective on what to look for on the lower time frame. But i will stay out of this trade given my own trading plan.

A sell at resistance isn't wrong but the next question would be where would you like to place your Stoploss?

Rayner

SL at 9100 giving you a 1:50 risk/reward ratio. If most of your trades have more them 1:8 then you won't be talking about cost of business. You will be talking about how to be profitable instead.

 

[neanea]

What is your trading plan?
Pls share ?

I would consider having a sell limit if i get a clear downtrend but not the case for this product

Also notice we have higher highs heading into resistance?

This tells me the bulls are refusing to back down.

This is a weekly chart and it does gives me a perspective on what to look for on the lower time frame. But i will stay out of this trade given my own trading plan.

A sell at resistance isn't wrong but the next question would be where would you like to place your Stoploss?

Rayner

 

[prudent76]

The importance of a stop-loss

Well talking about charts in hindsight is easy. We can all talk like experts in hindsight. Here is a live AUDUSD trade. You can see the market gapped down on open. However, it quickly covered the gap and made higher highs and higher lows. I bought on a dip. Let's see how this plays out. I will be scaling out and moving to break even on the final leg of the trade. If it gets that far

As you can see, my AUDUSD trade went sour. You can see the pair went significantly lower.

 

[prudent76]

GBPNZD Trade

Here is a trade I took earlier in the day on the GBPNZD. The price structure on this pair is very interesting.
It first spiked up and subsequently bled down to a lower low. This is the first clue that the pair is going down south.
As I watch the price action develop, you can see a downward channel form.
This is clue No. 2.
I took the plunge and it was profitable.
I am now looking for another short entry with this pair.
Will post again if I get an entry.

 

[prudent76]

Here is a trade I took earlier in the day on the GBPNZD. The price structure on this pair is very interesting.
It first spiked up and subsequently bled down to a lower low. This is the first clue that the pair is going down south.
As I watch the price action develop, you can see a downward channel form.
This is clue No. 2.
I took the plunge and it was profitable.
I am now looking for another short entry with this pair.
Will post again if I get an entry.

Entry taken on the previous Support/Resistance, with TP on the higher S/R and TP at the next lower S/R at 1.9886

 

[prudent76]

GBPNZD closed for +87 pips

Just to close off from the previous post.

 

[neanea]

What is your trading plan?
Pls share ?

No reply????

 

[tradingwithrayner]

 

[tradingwithrayner]

No reply????

If you look through all my previous videos and posts you'd would have a very good idea of my trading approach.

And from there you can formulate a trading plan which is similar to mine.

Rayner

 

[Knight_Rider]

 

[tradingwithrayner]

 

[tradingwithrayner]

 

[tradingwithrayner]

 

[tradingwithrayner]

 

[tradingwithrayner]