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Mercennary May 10, 2019 6:17am | Post# 14481

{quote} Good morning Mercennary, good to see you. "amazing how hard it is to follow simple rules." - true "However there's one question that really keep me confused, and it is the difference between a touch and a bounce trade, I understand the first "touchs" are the best and safest, but does this apply to taking "bounce" trades as well? In other words are you taking 3rd or 4th bounce trade setup if with good angle and strong confluence like pivot or RN" I trade this method now for around 6 years -- and i really have no clue about the difference...
Hey man, thanks for the reply, It is actually the answer I was looking for.

My biggest problem it is to get frustrated and switch strategies, I've being doing this for years, now I have a lot of experience in my bag and none at the same time, I feel like If I'm able to dominate this and the patience to sit on the sidelines and not overtrade I'll be on my way to success. Any advice in that regard buddy?

As I said before, I'm rly tired of this vicious cycle, feel like this is NOT treating this as a business, and its taking more time than It should, therefore I'll be rly devoting all my efforts and commit to this strategy, so yeah, you can expect a lot of charts from me, planing to monitor just a few pairs and risk little on each position (2%), which pairs do you recommend nowdays for the m15? Im going with EU GU EJ

best regards Guido

Sesamstrasse May 10, 2019 8:00am | Post# 14482

{quote} Hey man, thanks for the reply, It is actually the answer I was looking for. My biggest problem it is to get frustrated and switch strategies, I've being doing this for years, now I have a lot of experience in my bag and none at the same time, I feel like If I'm able to dominate this and the patience to sit on the sidelines and not overtrade I'll be on my way to success. Any advice in that regard buddy? As I said before, I'm rly tired of this vicious cycle, feel like this is NOT treating this as a business, and its taking more time than It...
Hmmh.
Monitoring trades all day-- hmmh 2% on each position.. hmmh--

I see it a bit more flexible.
During the years I collected a bit experience how differnt pairs/instruments behave.
Some, like GJ or Gcad overshoot normally the round numbers-- or some MAīs-- others don t retrace much and normally a clean and clear touch just don t happen and they run away.
itīs all a kind of observation.
that way I don t monitor charts all day.
From time to time a proper view-- hunt a specific retrace and let the market show its hand.
that suits best to me.
I need a bit live around me.. only watching screens isnīt a suitable sheme for me.


I prefer the medium volatile pairs like GU, EJ, EU, EA, ECAD,DAX to name some..
Too sloppy or too volatile isn t for me.

You have to find out what works best for you.
and more important how many hours screenwatching are productive for you.

Brazil has a different timezone, good possible there are different instruments to spot when I sleep.


Stay tuned
Guido

Mercennary May 10, 2019 8:19am | Post# 14483

{quote} Hmmh. Monitoring trades all day-- hmmh 2% on each position.. hmmh-- I see it a bit more flexible. During the years I collected a bit experience how differnt pairs/instruments behave. Some, like GJ or Gcad overshoot normally the round numbers-- or some MAīs-- others don t retrace much and normally a clean and clear touch just don t happen and they run away. itīs all a kind of observation. that way I don t monitor charts all day. From time to time a proper view-- hunt a specific retrace and let the market show its hand. that suits best to...
I get ya, Im not a big fan of high volatile pairs either, so probably will stick with the ones I mentioned and see how it goes, they're the ones Im more familiarized over the years.

I work at my computer so trading goes rly well with it If Im able to maintain a good discipline, planing to trade only during London the m15 timeframe and stay away of the m5.

thanks for the input Guido, best regards.

holgi19 May 10, 2019 12:51pm | Post# 14484

2 Attachment(s)
Hereīs a constrainment trade on usdchf H1.I took this trade after a second touch of 35/50 on m15.Exited after the first hesitation of price at 10 pips.
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atif58 May 13, 2019 2:43am | Post# 14485

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Hi,

Please see the in below image. Do we take that type of pattern as first touch??
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Sesamstrasse May 13, 2019 2:54am | Post# 14486

Hi, Please see the in below image. Do we take that type of pattern as first touch?? {image}
no
flat MAīs,

Do your work and read the thread.

procmail May 13, 2019 8:12am | Post# 14487

Hi,

When there is a trend change, first touch of the MA is pretty clear.

But there's one thing about first touches I don't get. After a first touch of the 10 EMA, and subsequently 35/50 (I don't trade 35/50 touches though), when we do reset the touch count and consider a subsequient touch as a first touch?

Is it at the end of a steep retracement (where price pierces the 35 and 50), and then when after the price resumes in the direction of the trend again, it pulls back and touches an MA?

Or does it have to be a true reversal, where there is a trend change, for there to be another first touch?

Thank you!

Haydel May 13, 2019 9:19am | Post# 14488

Possible LONG: EURUSD very steep M15 10EMA in confluence with RN at 1.1250 and Daily R1 at 1.1253.

1.1250 RN looks nice for a bounce.

Haydel May 13, 2019 9:25am | Post# 14489

Possible LONG: EURUSD very steep M15 10EMA in confluence with RN at 1.1250 and Daily R1 at 1.1253. 1.1250 RN looks nice for a bounce.
That was fast, I'm LONG already at BE+1
Expecting only 10 pips. because we are at the Higher High of the May 1st Daily Bar.

Haydel May 13, 2019 9:31am | Post# 14490

1 Attachment(s)
{quote} That was fast, I'm LONG already at BE+1 Expecting only 10 pips. because we are at the Higher High of the May 1st Daily Bar.
Target hit within 15 minutes. I love Choros!
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Sesamstrasse May 13, 2019 10:24am | Post# 14491

Hi, When there is a trend change, first touch of the MA is pretty clear. But there's one thing about first touches I don't get. After a first touch of the 10 EMA, and subsequently 35/50 (I don't trade 35/50 touches though), when we do reset the touch count and consider a subsequient touch as a first touch? Is it at the end of a steep retracement (where price pierces the 35 and 50), and then when after the price resumes in the direction of the trend again, it pulls back and touches an MA? Or does it have to be a true reversal, where there is a trend...
Good afternoon.

So-- itīs not that simple-- a trend changes and do this or that!

Basicly we look for a retrace in a trend, first touches are the safest ones.
BUT:
Who says what is a trend and what is a trend change?

You need to differ a bit.
Flat MAīs or steep ones?, important news a day later expected (interest rate change)-- higher timeframe confirmed--
eventdriven change?
Is it at market open or close -- and so on.


So for me it sounds a bit too theoretical.
Show a example and you get a proper answer.

stay tuned
Guido

Haydel May 13, 2019 10:27am | Post# 14492

1 Attachment(s)
{quote} Target hit within 15 minutes. I love Choros! {image}
What to expect after this?
Since we are at the High of the May 1st Daily Bar level, I would wait for price to close below M15 10EMA, preferably below Daily R1 and even below 1.1250 RN, then I would expect price to go up again to touch M15 10EMA from below, that could be a nice place to SHORT (That setup would be called Scoop-Down in the manual) If conditions are met and depending how far is H1 10EMA, the target would be H1 10EMA, where we could probably go LONG again for some pips.
We'll see.
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Haydel May 13, 2019 11:33am | Post# 14493

1 Attachment(s)
{quote} What to expect after this? Since we are at the High of the May 1st Daily Bar level, I would wait for price to close below M15 10EMA, preferably below Daily R1 and even below 1.1250 RN, then I would expect price to go up again to touch M15 10EMA from below, that could be a nice place to SHORT (That setup would be called Scoop-Down in the manual) If conditions are met and depending how far is H1 10EMA, the target would be H1 10EMA, where we could probably go LONG again for some pips. We'll see. {image}
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Mercennary May 13, 2019 1:16pm | Post# 14494

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So I took the same trade as Haydel, however waiting for confirmation killed the trade -15, any advice in filtering this one or just a cooler?
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Haydel May 13, 2019 4:13pm | Post# 14495

1 Attachment(s)
So I took the same trade as Haydel, however waiting for confirmation killed the trade -15, any advice in filtering this one or just a cooler? {image}
Look to the left, the May 1st Daily Bar High set a very strong resistance level at that area because it had a strong reaction on that date. That means that some reaction was expected when reaching close to that area. The place you entered was actually my target. The entry point should have been the touch of the M15 10EMA. I used confluence with RN to help the trade.
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Of course, I ruined it on the next trade, not realizing the down force was really strong. The reaction to the H1 10 EMA was 2 pips only, not even giving me time to move to BE.

At the end I got 10 pips and then I lost 10 pips.

That happens.

eltax100 May 14, 2019 3:00am | Post# 14496

2 Attachment(s)
nice setup on GBPUSD

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Out in 7 mins !

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holgi19 May 14, 2019 3:17am | Post# 14497

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Yes nice setup-for me it was a classic constrainment trade on H1... got in early before LO and exited a minute before market opening.
Comfortable start in the day
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Sesamstrasse May 14, 2019 10:19am | Post# 14498

1 Attachment(s)
Yes nice setup-for me it was a classic constrainment trade on H1... got in early before LO and exited a minute before market opening. Comfortable start in the day {image}

GJ īH1
50 green on 35 touch
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Name: GBPJPYcH1.png
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holgi19 May 14, 2019 1:47pm | Post# 14499

{quote} GJ īH1 50 green on 35 touch {image}
Wow ...nice!!How many room did you gave your stoploss?

Sesamstrasse May 15, 2019 1:26am | Post# 14500

{quote} Wow ...nice!!How many room did you gave your stoploss?
Moin holgi.

I had a SL at around 25 pips what is okay for this pair in a H1 chart IMO.


Guido


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