Wednesday, October 31, 2007
Abel M. wrote:
> Hi Neal,
>
> Yes, I understand that you are a DiNapoli expert and the work you did with Joe previously. Thank you for clarifying.
>
> Neal, you teach that on an uptrend we should buy dips and sell on rallies. I have practiced this and made money. However, most of the time I have a problem that needs further clarification. Let me outline the situation step by step below:
> 1. I have an uptrend in the 60'
> 2. I enter on a pullback to significant fib levels on a bullish TRSI crossover in the 15'
> 3. I place stop loss below the significant fib levels in the 15'
> 4. I calculate LPOs using the swing high and low points in the 15'
> 5. I place take profit orders based on the calculated LPOs
>
> Things are fine as per the above, and normally I would exit half of my position at the LPO and the other half when price fell below the 3x3 and/or there is a bearish TRSI crossover in the 15'. But later on, the uptrend continues and I miss re-entering and thus also miss the bigger moves. Given that, please kindly share your thoughts and the pros and cons on not exiting on the crossing of the 3x3 and/or the TRSI in the 15' but on such crossings on the 60' which actually is trend that I am playing and the context of the trade.
>
> Thank you.
> Kind regards,
> Abel
Hello Abel,
There is a mental battle between taking profits and missing the bigger move. We all have to make decisions and accept that we made the best decision for the moment. We can't hope to get every penny out of the market, without increasing our risk. As long as we are ahead, we are on target.
Here are some options, things you can do;
1) Accept that you must leave some money on the table for other traders, not capture the bigger move.
2) Re-enter after the exit (if conditions merit this), to capture more of the bigger move.
3) Adjust your exit strategy to be in the market for a bigger move (ride the counter-trend moves against you).
With the latter option, you might want to use a 30-minute exit strategy instead of 15 minute. Or 60-minute instead. There are advantages and disadvantages (potential loss increases).. Your stops will have to be adjusted too.
The 3X3 exit is great for a quick fast move, but will get you out of the bigger move quickly as well. So perhaps eliminate that exit, and use that portion of your trade for a longer-term exit (as above).
In the end, you need to adjust your strategy so that you can accept the risk/reward ratio. If you are making profits, and you can tolerate the stress, you are doing well.. There will always be stress, from losses, or leaving profits on the table, or many other sources.
-Neal.
Hi Neal,
Thank you for the detailed reply. What you wrote is very true and from experience. I can certainly relate to that. I think I am now in that phase whereby I have to start learning to accept and feel good about taking a portion of the ride and leaving money for other traders.
Thank you for being a true mentor.
Kind regards,
Abel
Posted by FibMaster @ 06:22 AM PST [Link]
> Abel M. wrote:
> > Hi Neal,
> >
> > Could you please take a look at the weekly XAU? Do you see a DRPO
> > look-alike forming?
> >
> > Thank you.
> >
> > Kind regards,
> > Abel
> */Neal Hughes /* wrote:
>
>
> Have you checked with Joe DiNapoli on this??
>
> -N
Abel M. wrote:
> Hi Neal,
>
> No, I haven't since I am not subscribed to his services.
>
> Anyway, the last daily bar on the XAU/USD was red when I saw and
> e-mailed you yesterday but it ended up being strong, so I suppose
> there'll be no DRPO.
>
> If you don't mind my asking, are you not authorized to discuss his
> directional indicators?
>
> Thank you.
>
> Kind regards,
> Abel
*/Neal Hughes /* wrote:
Although I know Joe's patterns really well (I used to teach his
seminars for him, for years), it would be inappropriate for me to be giving
advice instead of him. Joe might not feel comfortable if I do, and I
don't want to impose on him either.
As you said, the XAU weekly need to close below the 3X3 for a potential
DRPO to develop (look alike)..
-Neal
Posted by FibMaster @ 06:18 AM PST [Link]
Tuesday, October 30, 2007
Barrie wrote:
> Hello Neal,
>
> With regard to Keith's inquiry concerning MACD for Interbank FX - this is a MetaTrader based trading platform, and there are a proliferation of indicators available, including MACD. These can be downloaded from the forums for Interbank FX or MetaTrader sites. (Fibonacci levels and retracements are user programmable). I like to use the charts as auxiliary, set up on different monitors to the VT Trader (also free) that incorporate the TRSI indicator.
>
> However, the histogram is a very valuable feature that provides indication of weakening/strengthening trends, and divergence.
>
> Best regards,
> Barrie.
Thanks Barrie,
I posted Keith's question on the website hoping there would be an answer. I'll send this to Keith, so he can write to you directly.
-Neal
Posted by FibMaster @ 08:16 AM PST [Link]
Monday, October 29, 2007
Keith wrote:
> Hi Neal, I've recently been reviewing your "Trading With the Trends" videos
> that I purchased. I use a free chart from InterBank Fx. When I introduce
> MACD into my charts it automatically puts in a histogram. I would prefer to
> have simply 2 lines so that I can match entry/exit points with the
> Stochastics. Any ideas on how to set up parameters so that only 2 lines show
> and not a histogram? I am attaching a Word copy of a chart. Thanks, Keith.
Hello Keith,
I have no idea. Unfortunately I have not used Interbank FX. Check to be sure it does the Fibonacci retracements correctly, and the expansions with three data points (ABC) not just two.
-Neal.
Posted by FibMaster @ 12:12 PM PST [Link]
Thursday, October 25, 2007
Thanks for all of your fan mail! Traders have been banking profits based on my updates, and my email box receives constant reminders of that. Many of the primary USD pairs are in flux right now, so caution is advised. The CAD chart has some obvious trades setting up for intraday traders.
See todays chart update for specific details;
Click here for FibMaster's chart update.
(At some future point these update files will be removed due to space restrictions)
Posted by FibMaster @ 09:28 AM PST [Link]
Wednesday, October 24, 2007
The DOW and S&P are both bullish right now! You don't believe me?
Well, I'd agree that the markets have pulled back hard lately, but we are at the first of two major support levels. There is another one lower down if this one doesn't hold. And below that are the long-term supporting trend-lines.
So in the bigger picture, the long-term charts, the markets are in a counter-trend pullback. So the long-term trend is still intact, upward. See todays market update for specific details;
Click here for FibMaster's chart update.
(At some future point these update files will be removed due to space restrictions)
Posted by FibMaster @ 09:03 AM PST [Link]
Monday, October 22, 2007
Steve wrote:
> Hi, Neal,
>
> I should have clarified. Trading the Trend showed MACD as 8,17,9. I do not recall seeing
> Stochastics settings, as they were covered by a data box in lower left corner of charts.
>
> Again, MAGNIFICENT on the TRSI. All the information is in the candles, but the TRSI quantifies it, and provides definite, clear, high probability, "no questions asked" trading signals for a trading plan. Used alone, TRSI is highly successful. Used in conjunction with my patterns based on confluent Fibonacci zones, can hardly go wrong :-) in nailing the turns, and staying out of trades when the turn is not quite ready.
>
> Steve
Hi Steve,
Thanks for the comments about my chart updates and TRSI. Yes, combined with Fibonacci, the TRSI is "dynamite"...
Information about the MACD and Stochastic settings are here;
http://www.fibmarkets.com/mem/archives/00000448.html
-Neal.
Posted by FibMaster @ 09:22 AM PST [Link]
Steve wrote:
> Hi, Neal,
>
> Fantastic on your Forex chart updates!! A great help!!
>
> TRSI is working tremendously for me!! THANK YOU!!!
>
> The catch though is that Ensign has been down all night, and my strategy has been focused on TRSI.
>
> Have you implemented TRSI in GFT (Global Forex Trading), or do you know definitively (sp?) that
> TRSI is or is not able to be implemented in GFT?
>
> Or maybe I use macd/stochastics as my backup. But don't recall if I have seen settings for those
> from you. Are those something that you could send, or remind me which of your videos I might
> obtain those?
>
> Thank You.
> Steve
Hello Steve,
I am not familiar with GFT, software, so unfortunately can't help with that..
-Neal.
Posted by FibMaster @ 09:19 AM PST [Link]
Friday, October 19, 2007
Shane wrote:
> Neal -
>
> Many thanks for the Euro update. I saw the sk support around the 1.40
> level and your update confirmed it. Took over 130 pips on that trade
> getting out at around the 61.8 sell retracement level. Was wondering if
> you had had sent out an email letting people know you scheduled two trsi
> trading seminars on saturday. Would have loved to get into that
> particular seminar.
>
> Are you planning to put out anymore video seminars such as a tsri
> seminar or even the profiting from fib levels?
>
> Regards,
> Shane
Hey Shane, that's some great trading! Good job!
Yes I have sent out several email messages about my live seminars. Also, the notice has been posted on my web page for more than a month. Unfortunately the seminars for this coming weekend are sold out. There are a few seats available in the remaining two seminars.
I'll post this question and your comment on the same web page here:
http://fibmarkets.com/mem.html
There will be more seminars in the future. I need to add some more topics. So I'll post this invitation to readers, so send me topic ideas.. Do you have great seminar topics ideas? Send them to neal AT fibmarkets DOT com
-Neal.
Posted by FibMaster @ 07:57 AM PST [Link]
Thursday, October 11, 2007
My last update was "SPOT ON", don't miss this one either. In my last update I said "The Euro is pulling back for a great trade you definitely want to see this setup". Wow, what a move!
The Euro and Canadian are the hottest two charts today. See todays market update for specific details on the major USD pairs.:
Click here for FibMaster's chart update.
(At some future point these update files will be removed due to space restrictions)
Posted by FibMaster @ 08:09 AM PST [Link]
Monday, October 8, 2007
The major pairs have excellent trading conditions today, with he exception of Cable. The Euro is pulling back for a great trade you definitely want to see this setup. See todays market update for specific details:
Click here for FibMaster's chart update. This video will open in a new window.
(At some future point these update files will be removed due to space restrictions)
Posted by FibMaster @ 08:38 AM PST [Link]
Friday, October 5, 2007
Breakouts can be highly rewarding, because they often indicate the start of a major move. However, most breakouts fail. This Trader Tip will teach you how to avoid the losers, and bank the winners!
There are more tips at this link too, click here then register...
http://www.fibmaster.com/cgi-bin/tips/fibmasterstips.cgi?tip=breakouts
Posted by FibMaster @ 07:32 AM PST [Link]
