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baronfei Oct 7, 2010 8:40am | Post# 21

An example of my setup for today:
Attachment 556963

I would normally prefer to see tight range, flat or upwards or downwards.
Now from the chart, I see an uptrend, then the near term I see "profit taking" or "pullbacks".

If the trend continues, what should be my stand? I wanna follow it. Thus, my buy stop.

Where should I put my TP? I feel 1.4000 is a major SR, and people will be looking at it. Lots of orders will be placed there. Meaning, 1.4000 broken thru or not, the price will go there! So, 1.3995 seems like a nice place for...
Anyway, I'm done for today with +65.

frankkn Oct 7, 2010 8:47am | Post# 22

Subscribed!

I really like your thread

baronfei Oct 7, 2010 9:03am | Post# 23

Subscribed!

I really like your thread
Oh my god! Thank you! I assumed you like stress-free and simple trading style too right? Welcome aboard!

mithras Oct 7, 2010 9:08am | Post# 24

Anyway, I'm done for today with +65.

very nice ! I do like your 1H S/R trading method.

I scalp in 5M at 7:30 (GMT+1) when it break through 3940 ( previous last night 5M resistance) and sold @1.3970. +30 ,and waiting for the "test" of 1.4000

and baronfei, did you trade last night?

(I have checked your blog. That freaking whipsaw did ruin a good day)

baronfei Oct 7, 2010 9:19am | Post# 25

very nice ! I do like your 1H S/R trading method.

I scalp in 5M at 7:30 (GMT+1) when it break through 3940 ( previous last night 5M resistance) and sold @1.3970. +30 ,and waiting for the "test" of 1.4000

and baronfei, did you trade last night?
Thank you. I hope it did give you a little bit of inspiration like other threads me.

I actually do trade on lower timeframes, but i love this one most because it took the least time, and thus stress out of trading.

1.4 has been broken and retraced. You entering? My feelings (thin-slicing) says no... anyway, I'm happy with my profits today, so i'm giving myself a break

As the famous Chinese saying goes "钱是赚不完的", which means, You'll never have enough when it comes to money.

I hope you all find peace with trading today...

mithras Oct 7, 2010 9:38am | Post# 26

I entered , bought @1.4025 and stop my loss @1.4000.
yet I see a "reversal fractal" ( my trading method , ) so I sold @1.3999 and target is @1.3960 ( support)

Thank you. I hope it did give you a little bit of inspiration like other threads me.

I actually do trade on lower timeframes, but i love this one most because it took the least time, and thus stress out of trading.

1.4 has been broken and retraced. You entering? My feelings (thin-slicing) says no... anyway, I'm happy with my profits today, so i'm giving myself a break

As the famous Chinese saying goes "钱是赚不完的", which means, You'll never have enough when it comes to money.

I hope you...

mithras Oct 7, 2010 9:45am | Post# 27

target reached. +36 - 26 ( loss in 1.4000) + 30 ( London Session) = 40 pips

>Apocalypto< Oct 7, 2010 9:51am | Post# 28

Good day.

No, this thread is not gonna ask you to install 3 indicators and when indi A crossed indi B and indi C is pointing north then you got a signal. No, probably not.
Hi baronfei,

nice thread and nice concepts here, I also identify with what your speaking about in my trading. I am enjoying this thread, keep it coming. I trade off 1m and 1hour and all my trades are based off range/support resistance breaks.....

** we just had a very nice short off a range break on 1min EURUSD (it's still going but i am out).......****

Good Trading to you.

baronfei Oct 7, 2010 10:23am | Post# 29

I entered , bought @1.4025 and stop my loss @1.4000.
yet I see a "reversal fractal" ( my trading method , ) so I sold @1.3999 and target is @1.3960 ( support)
Wow, I don't see quite many people doing that. If one could employ it naturally, it'd be a formidable approach. I, for one, don't have that trait in me. Keep it up!

baronfei Oct 7, 2010 10:30am | Post# 30

Hi baronfei,

nice thread and nice concepts here, I also identify with what your speaking about in my trading. I am enjoying this thread, keep it coming. I trade off 1m and 1hour and all my trades are based off range/support resistance breaks.....

** we just had a very nice short off a range break on 1min EURUSD (it's still going but i am out).......****

Good Trading to you.
Hi Apocalypto,

That's refreshing to hear!
I'd like to keep screen time minimal so I could spend more time developing myself... But its always good to hear people who have also applied this approach in 1min TF.

Anyway, pretty funny how you use "we" there... Are you trading in a group?

>Apocalypto< Oct 7, 2010 6:28pm | Post# 31

Hi Apocalypto,

That's refreshing to hear!
I'd like to keep screen time minimal so I could spend more time developing myself... But its always good to hear people who have also applied this approach in 1min TF.

Anyway, pretty funny how you use "we" there... Are you trading in a group?
no group just late night English..............

frankkn Oct 7, 2010 8:22pm | Post# 32

no group just late night English..............
Yeah I should be in class right now too hahaha

baronfei Oct 8, 2010 1:26am | Post# 33

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This is my setup for today.
I know there's pretty heavy news coming up tonight, but I'm giving it a try to see how it goes.

My stops are 25 pips away from entries, and remember to set SL to BE at +20pips!

mithras Oct 8, 2010 11:23am | Post# 34

Attachment 557739

This is my setup for today.
I know there's pretty heavy news coming up tonight, but I'm giving it a try to see how it goes.

My stops are 25 pips away from entries, and remember to set SL to BE at +20pips!
high volatility day , but still reached the target,

Mr J Oct 8, 2010 9:30pm | Post# 35

The secret is that Trading can not be taught.
While sciences could be taught and formulas to be applied, trading couldn't.

Because its an ART. And with art, you can only realised. Thus, one could only be guided, but not taught.
Art versus science is just a mainstream human perception. Everything we do as a trader has science behind it, we may just perceive it as "art" because we have not quantified our actions.

Trading can't generally be taught well not because it is an art and not a science, but because of human limits to learning. We're driven by emotion, desire, ego etc, and even if we regard ourselves as logical traders, these still interfere with our learning process. Certain information will appeal to our nature, perhaps leading us to overlook other, more valuable information. We limit our ability to learn.

While sciences could be taught and formulas to be applied, trading couldn't.
In your opinion. In my opinion, it can. Few may be able to learn this way, but I'm certain it is possible.

you'll probably discovered that there's no hardcore formula that could lead you to success
Of course there is a formula. It's often said hard work, talent and a dose of good luck will lead us to success. That is a formula.

Don't take this too negatively; while I disagree with what I've commented on, I think the first post still holds plenty of value. Many are looking for that single method, system or trick that will propel them onto a path of quick riches, and it just doesn't work that way. I also think it makes trading all the more rewarding.

JeffC Oct 9, 2010 1:13pm | Post# 36

I like to study foreign languages. In my childhood I read a dictionary like an interesting story. Therefore I became successful. Same thing I think with market. I agree it is an art. A very interesting art.

baronfei Oct 11, 2010 1:25am | Post# 37

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It was a neck snapping Friday.
This is my setup for today.

Short:
Entry 1.3950
SL 1.3975
TP 1.3905
Long:
Entry 1.3990
SL 1.3955
TP 1.4060

Once again, do visit my blog www.wanwaihui.com, drop a comment or so I'm sure we could share something and discover a little from all my previous setups... Or simply leave a comment here I'll try to reply.

baronfei Oct 11, 2010 1:28am | Post# 38

I like to study foreign languages. In my childhood I read a dictionary like an interesting story. Therefore I became successful. Same thing I think with market. I agree it is an art. A very interesting art.
So do you also have the pleasure to study Chinese? Although it was my mother tongue, we don't exact have a proficient writing/spoken level in Brunei (the country I reside in). So, I actually took the effort to learn the language and it is just fascinating. Though im exactly a dictionary-type of person

baronfei Oct 11, 2010 1:47am | Post# 39

Art versus science is just a mainstream human perception. Everything we do as a trader has science behind it, we may just perceive it as "art" because we have not quantified our actions.

Trading can't generally be taught well not because it is an art and not a science, but because of human limits to learning. We're driven by emotion, desire, ego etc, and even if we regard ourselves as logical traders, these still interfere with our learning process. Certain information will appeal to our nature, perhaps leading us to overlook other, more valuable...
Hello J,

Appreicate your reply and effort spent reading the post.
In my humble opinion, science can be applied to an art to understand its mechanics, but science can not be applied in practicing an art. Well, in the end, it could just be the difference in our "perceptions" towards the same object. While we are in our own perspective, everything becomes subjective. And I'd think that perceiving the market from an Art pov would greatly reduce the limits of our otherwise rigid perception.

It may be hardwork, talent, some luck and maybe perserverance that would lead to success. But, like everything else, these terms could mean different things to different people. For instance, hard work might mean screen time, or back tests, or training the mind, or 2 of the 3 or all of them altogether, but by what proportion? etc... It's different in all of us instead of 1+1=2 (well, as long as we are not talking about a man and a woman here, lol).

Well, I'm trying to expand on my concept while I can. You may agree or disagree to my opinions but I find it fruitful to have these kind of conversations, honestly.

Cheers!

baronfei Oct 11, 2010 5:09am | Post# 40

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Got a BE today and the long signal is voided.
Take a break
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