PRICE Accordingly

Hello Traders,


I am the fella trader next door who got the ability to make money in this market, and I think with my help you can too if you are not profitable already.

To me being profitable is not just enough, but rather to be profitable consistently!… Consistent enough to produce each Day, Week, Month, Quarter and the Year. In this thread I will show you how to become exactly that if you follow me to the teeth.
I will simply lay out a simple Trading Plan and all you got to do is to follow it, to eventually Master it, and to eventually make Money… sound good!!... I hope so.


Ok… let’s roll…


As you see above the name of the thread is “Price Accordingly”… in other word, getting in at the right or cheaper price by Selling on the top and Buying at the bottom so if things don’t go as planned there will be enough room to maneuver to whether settle for the minimum profit or lose reasonably or for minimum. Now, to “Price Accordingly”, we all know that it cannot be done precisely or accurately at all the times, but with some well planning and mastering of that plan the success ratio can be increased for an a EDGE which could lead to eventual Profitability and Consistency.

In this thread Price Action is the cornerstone of what we do… we will have couple of indicators to go along as well, only to set us up for clearer vision, earlier preparation and the use of clearer guidelines and rules to build around, in order to SEE and not miss signals and to REACT in a timely manner to either reject or accept.
We will for first and most focus on reco-ing the type of market PA at hand before pressing the push button each time. Once that’s out of the way we focus on making a fit play according to that market condition. So two types of recognition is required before a position taking…

1) Market condition.
2) Appropriate play according to that market condition at hand.

In this plan we will be able to take advantage of most PA conditions, whether is Ranging, Trending or rough/chop Trending or volatile. The largest part of an successful Trader relies on his ability to Adjust and Adapt to different market conditions, and we all good and well know that market is superb at throwing your way tons of different shapes and looks as it could swing away in any direction at will, so to operate in such a Constant Changing Environment one must possess the two qualities mentioned above in my humble opinion in order to have any chance of survival. With that said, I am not offering a hard firm system here but rather a way of seeing the market in its true sense based on frame work that we will operate on.

To give you all a hint… I look to take apart and squeeze the most profit I can each and every day out of 5 different major pairs under my watch all in one TF (5M). I look for Over-Bought and Over-Sold PA in the 5M TF and the art of the work is in two areas…

1) To be Present for most if not all valid opportunities.
2) Filter the NO good signals… ability to accept and reject.

A solid trader is the one that reco’s his signal on a blink and then to only reject or take action on it on a blink with no extra feelings attached what so ever… stone cold. I set myself open to the kind Trader that I could be… I go in with an open mentality each day and starts for me as like a Scalper and it could lead to finish like a swing or long-termer or whatever that suites accordingly based on what I see,feel in the NOW moment and how I handle and display my skill ability.

I’ll show everything that I preach LIVE… I will Live Play my own real trades and explain from beginning to end of one position taking so you can fully understand and absorb the reasoning behind each and every situation play under the heat of real money, in effort that eventually you will soon do it on your own as well.
If the above lectures of mine sound interesting to you and I see enough interested people, I will continue further and lay out the plan and more importantly go to work showing live examples.

Talk at you later.



Regards,
Dean


Update 2/21/2013
I just added the templates and all the indicators I use for this system per your request.

Hey,
I am interested and will be keeping one eye on this thread.

Looks great will surely be intrested

I have been trading for a while. And anything that preaches about price action, I show interest.

PA yes please.

Dean, continue pls :-)

I have seen you are using some kevinator indicators, i just use only price action and TMA true from jmw (15m tf better PA for me). But still very interested for your trading skills.. :-)

Okay Dean - sounds good so far. Go for it.......

I use PA in higher TF. Let me see how you do it in 5M TF

Will follow your efforts and also subscribed.

Ok great, sounds like a lot of people are interested so we move forward..
as one of the guys mentioned, I have been a active member of the Kevinator thread and i have sort of combined my own trading skill with what i have learned from his thread to setup a more complete trading plan for better profitability.

I do not allow my tools to dictate what I do and at the same token will use the tools to not fall into deceive of pure PA action.. there is a fine line between the two and needs a balance which i hope i can get that across in here in the simplest form possible.

ok the tools:
1) your own two sets of eyes.
2) 5M Time frame.
3) TMA true band with distance (the one dear John put together for us)
4) RF.. Retrace finder.. (xi.. period = 4)

please attach these to your charts..


by the way i am in a live trade and i could be moving a bit slow here, i hope you wont mind.

hi P. Dean thank you for the thread!

do you use multiplier 3 in tma settins? or default 2?

thank you and have a good one!

So as you all see we got the TMA band...
inside the 5M chart we will use the combination of pure PA and the band to make the market condition recognition so we can fit the right play to it.

Band and PA recognition choices:
1) Neutral = Range PA
2) Striking = Trend PA
3) Mildly Striking = Trending roughly or choppy

to me these are the three most visible condition that PA offers... before we make any move or take any position its important to make note of this..

now after this step we go after "Appropriate Play" to fit the initial take of the first step..
if we got a:
- Neutral pa band.. we trade both ways of the band when is show OB/OS
- Striking pa band.. look for a MOM trade, meaning the pullback to the opposite side of the band..
now, listen carefully here.. this is my addition..
most often we see a trending pa without proper mom setup to exactly touch the opposite band.. so what we do here we look for a reaction to the mid band, IF the two rules below is meet:
1) you point of entry which is set with the RF closed bar.. is minimum +10 pips room to the LL/HH.
2) the total risk is below 15 pips.. (SL goes above the current PB)

and last but not least..
- Mildly Striking pa band.. this kind of condition to me is signal of weakness towards the direction that it's currently running.. so in order to not lose on the reversal opportunty i will look for PA to make a DB/DT (double bottom/double top)..

ok..
as you might have guessed our trigger point and the early alert signal is the RF indi... we will wait for the close of that bar and quickly set a pending order 2-3 below/above the closing point.. this is a must and a hard rule.. trust me when i tell you that this little thing will save you from false signals more than you can imagine..

next i will show you all some charts and than talk about trade managements and exit and so on..

to be continue, be back in 30 min..

Need the "TMA Called" indicator that is referenced:

double ld_TMA.Mid = iCustom(NULL,0,"TMA Called",xi_TMA,0,xi_Alert.Bar);

Dean
My suggestion for Price Lover is to go for Constant Range Bars Charts
It shows price action in a nice way

I use the default.

thx

Constant Range Bars ? I think that is an indicator that you have to pay for it to get it...I hope you are not advertising.

I give you all one live picture of G/U that i been active superbly today that shows pretty much all our signals minus the proper mom setup..

check it out..

what is your trading hours? i live in america and its preatty hard for me to trade uk but i still trade it

ok.. trading hours..
Frankfurt open to London close..

grinding it out baby... some days i make more than enough before NYS and i close shop other times got stay to make ends meat.. lol