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intraday trend trading with price action

  • #1,421
  • Mar 7, 2010 6:58am Mar 7, 2010 6:58am
i looking at the charts and what i can see it is hard to get an risk 1 to win 2 i looking at 15 min charts and risking 10 pips to get 20 often you get 18 or so before it reverse other also have this problems or am i doing something whrong ?


BEST REGARDS
  • #1,422
  • Mar 7, 2010 7:15am Mar 7, 2010 7:15am
Quoting jgadefelth
i looking at the charts and what i can see it is hard to get an risk 1 to win 2 i looking at 15 min charts and risking 10 pips to get 20 often you get 18 or so before it reverse other also have this problems or am i doing something whrong ?


BEST REGARDS

Remember Sho said the angle of Keltner is important. You don't want to trade the flat areas. IMHO the flat areas occur outside of the timeframe Sho trades.

Kurt
  • #1,423
  • Edited 7:38am Mar 7, 2010 7:28am | Edited 7:38am
what time is it im utc +01 i think that is the same as gmt +01


i think i have looked at it in the right time and with good angle and nothing that interfears but still it is hard to get more before it reverse atleast temporary.


best regards


i looking at gbp/usd my favorite great moves not so bad spread.
  • #1,424
  • Mar 7, 2010 7:56am Mar 7, 2010 7:56am
I don't know what sutts thoughts are reguarding your question on wave counts but I have a thought.
In Elliott Wave theory wave one can only be seen in hind sight, the same for all the rest as well. A perfect set up can fail on any wave. Wave one is confirmed be the wave 2 pull back. Wave 3 is always the longest in the series. Good set ups can come anywhere, but impulse and corrective moves as applied to E. wave theory are measured against each other. Wave one is longer than wave 2, wave 3 is longer than wave 1,2, 4, and 5. Wave 1 can come at the end of a reversing down cycle but this happens infrequently enough to be considered random. Wave 1 being confirmed by wave 2 gives a better than even chance that wave 3 will occur as schuled, but its not a lock. I may be totally wrong, but thats my take.
  • #1,425
  • Mar 7, 2010 8:43am Mar 7, 2010 8:43am
I know its nothing to do with Sho,s method but if anyone has heard of Craig Harris, his free videos give a good insight into market movement which all helps in the journey!
  • #1,426
  • Mar 7, 2010 9:21am Mar 7, 2010 9:21am
Quoting Bankshot
I don't know what sutts thoughts are reguarding your question on wave counts but I have a thought.
In Elliott Wave theory wave one can only be seen in hind sight, the same for all the rest as well. A perfect set up can fail on any wave. Wave one is confirmed be the wave 2 pull back. Wave 3 is always the longest in the series. Good set ups can come anywhere, but impulse and corrective moves as applied to E. wave theory are measured against each other. Wave one is longer than wave 2, wave 3 is longer than wave 1,2, 4, and 5. Wave 1 can come at the...

It sounds like you're quite familiar with Elliot Wave theory Bankshot. I'm not 100% on all the rules yet but my take on it is that we are trying to catch the wave 3 and wave 5 impulses in the five wave pattern before the corrective ABC waves kick in. Wave 3 is supposed to be bigger than wave 5 but I'd say it often isn't and the last wave is the one where everyone jumps on board and gets carried away - leading to exhaustion.

We can't get in at the start of wave 1 because at that time it is a corrective wave against the trend and we only know it as wave 1 in a new cycle when it breaks the previous swing high (in a downtrend) or swing low (in an uptrend).

It's great that we can cover such a broad range of subjects as part of Sho's thread. This is a nice way to learn.
  • #1,427
  • Mar 7, 2010 9:22am Mar 7, 2010 9:22am
Quoting francis2
I know its nothing to do with Sho,s method but if anyone has heard of Craig Harris, his free videos give a good insight into market movement which all helps in the journey!
Thanks francis, I'll check those out.....

Dave
  • #1,428
  • Mar 7, 2010 9:49am Mar 7, 2010 9:49am
Quoting Sutts
It sounds like you're quite familiar with Elliot Wave theory Bankshot....
it does not have to break swing high or low to become a impulsive move.
  • #1,429
  • Mar 7, 2010 9:51am Mar 7, 2010 9:51am
Quoting adler
Hello Sho

Based on this system, I have done wave counts and entries accordingly. Please can you confirm whether my thaughts are in line with this system. Your help is greatly appreciated

I have pointed places where the probable entries and exits are!

I have pointed where I would think Impulse , corrective and impulse turned corrective and also corrective turned impulse . Please can you correct me where I went wrong in the counts?
we are day traders.we go more deeper to find the impulsive moves.
you missed lots of moves.we count small move ments as well
  • #1,430
  • Mar 7, 2010 9:54am Mar 7, 2010 9:54am
i will give you few rules .
i allready made them.
just waiting to post them.
what i have decided is i would not post any more after the rules
  • #1,431
  • Mar 7, 2010 9:58am Mar 7, 2010 9:58am
its quite long list of rules.
you guys keep what rules you need and delete or edit other rules.
if u have any special rules add them as well
  • #1,432
  • Mar 7, 2010 10:01am Mar 7, 2010 10:01am
Quoting trade price
i will give you few rules .
i allready made them.
just waiting to post them.
what i have decided is i would not post any more after the rules

Would not post anymore (what) after the rules?
  • #1,433
  • Mar 7, 2010 10:03am Mar 7, 2010 10:03am
Quoting Bankshot
Would not post anymore (what) after the rules?
yes mate no more post when i will post the rules but i will check the thread sometimes.
  • #1,434
  • Mar 7, 2010 10:06am Mar 7, 2010 10:06am
I feel like an orphan.
  • #1,435
  • Mar 7, 2010 10:09am Mar 7, 2010 10:09am
Quoting Bankshot
I feel like an orphan.
may be in the future if people find the thread helpfull and use the methood i will post.
  • #1,436
  • Mar 7, 2010 10:13am Mar 7, 2010 10:13am
Well we can't hold a gun to your head. Thats only because we don't know where your head is.

Thanks for all your help Sho. Best of luck to you.
Phil
  • #1,437
  • Mar 7, 2010 11:00am Mar 7, 2010 11:00am
why Sho in post one you told us to take our time you would not go anywhere ...........

why is there something whrong or dont you have time or what ???


i feel i have more to learn from it and what i can see most of us in this thread is still doing whrongs that we need your help with ??


i think i am going to be sick it dont feel good that you are leaving


best regards
  • #1,438
  • Mar 7, 2010 11:08am Mar 7, 2010 11:08am
Quoting trade price
i will give you few rules .
i allready made them.
just waiting to post them.
what i have decided is i would not post any more after the rules
I just found this very useful thread yesterday. I am struggling to find some thing suitable for me. One of my friend helped me and refered me to here. I found it is some thing that would fit for me and i can be successful with it.... but what is that... you are leaving us boss... we are newbies...cant find our way ... i dont know that i am allowed to do that or not....but i would request and wish to not to leave us alone.
  • #1,439
  • Edited 12:23pm Mar 7, 2010 12:19pm | Edited 12:23pm
this thread is grown very fast, can we follow that fast in our learning procedure?
There is so much from the basic to now.

I think Sho want us to learn the rules, stick to them, post our trades here in the thread, only the method nothing different, no other methodes or theories.
If Sho sees how we get better and better and dont mess up this thread like many others on FF, he will be proud and give us more advanced stoff

thank you Sho for this thread



Edit. i forgot the maybe most important thing: helping each other, helping newcomers to find an entry
  • #1,440
  • Mar 7, 2010 12:23pm Mar 7, 2010 12:23pm
I think Sho has been very generous in his revelations on this thread,I believe price action is what you need to make a success of this business along with plenty of your own research into the subject and screen time. all you initially need has already been posted,
Many thanks to you Sho

there are also plenty of knowlegeable people who post charts and discuss on this thread to make it a continued success
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