Mastering the Art of Trading | Page 55 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Mastering Swing Trading using Market Framework 437 replies

Mastering the Art of Stop Loss 40 replies

Mastering short timeframe scalping 3 replies

Mastering Price Action - tunguska Journal 18 replies

Mastering the Art of Trading vs Impatience 0 replies

Attachments: Mastering the Art of Trading
Exit Attachments

Mastering the Art of Trading

  • #1,081
  • Oct 11, 2013 1:07pm Oct 11, 2013 1:07pm
Quoting ghous
{quote} Hey Walad, Not sure exactly what you would like to know. My strike rate has been around 60% mark for daily trades, about 40% for trades under the daily. the average number of trades per month is about 6 trades. It has recently took off a little due to the involvement with lower time frames although frankly speaking I think the dailies just out right rock. The results for last 3 months are +12.5%, -1.8%, and +3%. Generally speaking I am still pretty much sticking to the idea that this method is at its best on the dailies and while it can...
Peachy -- thanks.

BTW, you are a good writer/teacher Ghous.
  • #1,082
  • Oct 12, 2013 2:31am Oct 12, 2013 2:31am
Quoting ghous
{quote} Hey Pips learner, Actually the times that I delay my entries are usually the occasions where we are running into a trouble area straight away and price just decides to hold up at them, and then as it hints on breaking out I am then looking to get in. The EUR/MXN I posted above is a good example. You can see how just under the fake out price is battling it out due to that major trouble area. Now if it breaks out, you're obviously still pretty much at the start of the move. Not only does this boost the potential of your eventual reward on...
Thanks Ghous.. I appreciate, I got it... But I took the trade on GBPUSD... pls view the pic and analyse it if its possible for price to hit my 2nd target or to quit the trade... My thought was to hold on till it hits my 2nd target
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 30 KB
  • #1,083
  • Oct 12, 2013 2:43am Oct 12, 2013 2:43am
EURGBP Daily... just need ur opinions... Ghous, I got your example, First Trouble Area has been broken, can it survive the next trouble areas...? need more thoughts on this... Much Appreciations
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbpdaily.png Size: 25 KB
  • #1,084
  • Oct 12, 2013 3:29am Oct 12, 2013 3:29am
Quoting pipslearner1
{quote} Thanks Ghous.. I appreciate, I got it... But I took the trade on GBPUSD... pls view the pic and analyse it if its possible for price to hit my 2nd target or to quit the trade... My thought was to hold on till it hits my 2nd target {image}
First off, great to see you getting hold of a runner.

Here's a chart with my thoughts:

Attached Image (click to enlarge)
Click to Enlarge Name: gu.png Size: 46 KB


Again these are just my thoughts and how I would be treating the trade. You know how trade management can vary tremendously based on one's own perceptions/beliefs/risk appetites.

g.
I believe . . .
  • #1,085
  • Oct 12, 2013 3:32am Oct 12, 2013 3:32am
Quoting pipslearner1
EURGBP Daily... just need ur opinions... Ghous, I got your example, First Trouble Area has been broken, can it survive the next trouble areas...? need more thoughts on this... Much Appreciations {image}
WOW. Hugely optimistic target on that trade.

But I am happy to see you point out those consolidation boxes that well. They are surely not likely to allow price a clear path through to your TP. Time will tell.

g.
I believe . . .
  • #1,086
  • Oct 12, 2013 4:03am Oct 12, 2013 4:03am
Quoting ghous
{quote} I don't mean that you can't trade trend line break outs successfully. I mean, that trend line breakouts and pattern break outs make up for stories in themselves and while you can use them as confluence for your fake out trades, merely delaying trades up to the point that the fake out itself becomes a chapter of the past and you are then playing on a different story line then you need to be at least aware of it. For instance that GBP/SGD short that was being talked about, I wouldn't call it a fake out trade. The reasons pointed out were totally...
LOL

I think what Ghous is basically trying to say is that his whole method described here - in itself - wants to get in EARLIER than the usual " waiting for confirmation " - method ( i.e. the typical delayed move of the retail trader ). However, in order to do that, he points out that he is not just looking for a stop-and-reverse at the HHR or LLS, he looks at the " story " of the market structure, which looks at various factors :

a) is there a trap of bulls or bears ( breakout traders who have jumped in without looking at FTA areas to the left
b) are there widespread bars, showing impulsive moves, with a lot of traders entering with buy stop or sell stop orders
c) where are the likely stops of breakout traders ?
d) if you think about it : a move of big traders can be " fed " by the stops of smaller traders

Example for this : see pic attached ( USDCHF 4H )

Have a nice weekend & thank you for the great thread !

Mike
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-10-12 10_59_04-5015773_ [USDCHF,H4].gif Size: 43 KB
Be like water.
  • #1,087
  • Oct 13, 2013 2:00am Oct 13, 2013 2:00am
Quoting ghous
{quote} First off, great to see you getting hold of a runner. Here's a chart with my thoughts: {image} Again these are just my thoughts and how I would be treating the trade. You know how trade management can vary tremendously based on one's own perceptions/beliefs/risk appetites. g.
Thanks Ghous, I understand you perfectly well...

Pipslearner1 (Chris)
  • #1,088
  • Oct 13, 2013 2:30am Oct 13, 2013 2:30am
Quoting KOS-fx
I just catch this H&S pattern Guys want to know about my thoughts...... looking for a close above the BRN 1,6000...... {image}
so if it H&S pattern why do you expect opportunity to buy?
as I know breaking through the shoulder is a sell signal.
  • #1,089
  • Oct 13, 2013 7:30am Oct 13, 2013 7:30am
Ghous,

Need your clarification "A fake out setup, as per this method is NOT over unless you get a close beyond the fake out bar high/low. period."

Does this mean that one should not enter unless the bar that follows the fake out one should close beyond high/low as a confirmation to enter??

Pls. explain as you repeated the above line several times on your first post.
  • #1,090
  • Oct 13, 2013 8:11am Oct 13, 2013 8:11am
Quoting ghous
{quote} Hey Walad, Not sure exactly what you would like to know. My strike rate has been around 60% mark for daily trades, about 40% for trades under the daily. the average number of trades per month is about 6 trades. It has recently took off a little due to the involvement with lower time frames although frankly speaking I think the dailies just out right rock. The results for last 3 months are +12.5%, -1.8%, and +3%. Generally speaking I am still pretty much sticking to the idea that this method is at its best on the dailies and while it can...
Can you please tell us what are the % of break evens or small loss on dailies and under daily?

Thank you.
  • #1,091
  • Oct 13, 2013 8:11am Oct 13, 2013 8:11am
Quoting respectosik
{quote} so if it H&S pattern why do you expect opportunity to buy? as I know breaking through the shoulder is a sell signal.
Hey Respect....

Ya man you correct. As I told you main objective of this thread is trading fake outs.

And mainly focus on major swing point as LLS or HHR fake outs.

But still you can trade Trend line or Chart Pattern fake out also. That H&S pattern I was looking only for educational purpose.

My main objective is first master on Major swing point fake out trading

Better you go through following link at Baby Pips

http://www.babypips.com/school/high-...-fakeouts.html
80% effort, 20% luck
  • #1,092
  • Oct 13, 2013 10:26am Oct 13, 2013 10:26am
Quoting KOS-fx
{quote} Hey Respect.... Ya man you correct. As I told you main objective of this thread is trading fake outs. And mainly focus on major swing point as LLS or HHR fake outs. But still you can trade Trend line or Chart Pattern fake out also. That H&S pattern I was looking only for educational purpose. My main objective is first master on Major swing point fake out trading Better you go through following link at Baby Pips http://www.babypips.com/school/high-...-fakeouts.html
you consider trading in the shorter term than I)
  • #1,093
  • Oct 13, 2013 10:33am Oct 13, 2013 10:33am
Hello traders!
I'm confused! was opened long position and SL above the opening of the deal. but I`m expecting selling more than buying.
What do you think?
Attached Image (click to enlarge)
Click to Enlarge Name: сомнение.jpg Size: 196 KB
  • #1,094
  • Oct 13, 2013 10:33am Oct 13, 2013 10:33am
Quoting respectosik
{quote} you consider trading in the shorter term than I)
Not get what you mean???????.....
80% effort, 20% luck
  • #1,095
  • Oct 13, 2013 11:08am Oct 13, 2013 11:08am
Quoting KOS-fx
{quote} Not get what you mean???????.....
its my fall)
I mean that, as for me, is too early to buy. I would have waited a clear PA signal near 200MA or 1.5900 levels to buy. now almost formed micro double bottom.
you can see there fake out opportunity for buy, it is great, but I think it is beforehand)
Attached Image (click to enlarge)
Click to Enlarge Name: ответ.jpg Size: 175 KB
  • #1,096
  • Oct 13, 2013 11:47am Oct 13, 2013 11:47am
as for me, fake out and double top is opportunity for sell. on FTA I probably should have taken profits, but did not) so SL below the opened order and will see.
In this situation better take profit or close half profit?
Attached Image (click to enlarge)
Click to Enlarge Name: пример.jpg Size: 139 KB
  • #1,097
  • Oct 13, 2013 10:59pm Oct 13, 2013 10:59pm
Soyabean 4 hour fakeout
1. double bottom
2. price gaps below the LLS and then closes above to form a huge BUOB, fakey bar formed
3. MACD divergence

Neytiri
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 26 KB
  • #1,098
  • Oct 14, 2013 12:12pm Oct 14, 2013 12:12pm
Quoting respectosik
Hello traders! I'm confused! was opened long position and SL above the opening of the deal. but I`m expecting selling more than buying. What do you think? {image}
why do you care what others think? they know no more than you do in regards to predicting future price.
As Above, So Below
  • #1,099
  • Oct 14, 2013 1:28pm Oct 14, 2013 1:28pm
Quoting tashkent
{quote} why do you care what others think? they know no more than you do in regards to predicting future price.
I'm not asking for predictions or for confidence!
I was just wondering other people's opinions, their vision.
  • #1,100
  • Oct 14, 2013 8:37pm Oct 14, 2013 8:37pm
Quoting respectosik
{quote} I'm not asking for predictions or for confidence! I was just wondering other people's opinions, their vision.
take it easy, no need to get emotional. fastest way to kill your account is relying on other people's opinion and their vision. not sure what you are doing? save your money, do something else. trading is not for you.
As Above, So Below
1 trader viewing now