Mastering the Art of Trading | Page 58 | 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

  • #1,141
  • Nov 9, 2013 9:30am Nov 9, 2013 9:30am
Quoting tixy
Thankyou for sharing the information. I will demo next week and share my results.
Cool. Good luck with your testing.

g.
I believe . . .
  • #1,142
  • Nov 9, 2013 12:24pm Nov 9, 2013 12:24pm
Quoting ghous
{quote} Fabulous work Lenrod! Really cool to see you not getting carried away on the EUR/NZD and taking your sure pips off that major PPZ. That's the way to do it g.
Thanks ghous, appreciate it
  • #1,143
  • Nov 10, 2013 1:46am Nov 10, 2013 1:46am
Yeah many thanks for the feedback Ghous much appreciated
  • #1,144
  • Nov 11, 2013 5:24pm Nov 11, 2013 5:24pm
Quoting ghous
{quote} Cool. Good luck with your testing. g.
I hope to start tomorrow and then I will post here.
  • #1,145
  • Dec 4, 2013 5:03am Dec 4, 2013 5:03am
Hello Masters

Just checked out thread and want to keep in touch

Newbie
Journey is more important than destination
  • #1,146
  • Dec 15, 2013 8:52pm Dec 15, 2013 8:52pm
Very proud of you Ghous!
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #1,147
  • Dec 16, 2013 8:53am Dec 16, 2013 8:53am
thank you man you are the best
  • #1,148
  • Dec 17, 2013 11:49am Dec 17, 2013 11:49am
Quoting tixy
{quote} I hope to start tomorrow and then I will post here.
Hey T,

Glad to have you here.

Hope you enjoy your stay

g.
I believe . . .
  • #1,149
  • Dec 17, 2013 11:52am Dec 17, 2013 11:52am
Quoting LasVahGoose
Very proud of you Ghous!
Thanks a lot bro. That coming from you means a lot to me.

Quoting samirb35
thank you man you are the best
Hey Samir,

Thanks a lot and welcome on board.

g.
I believe . . .
  • #1,150
  • Dec 17, 2013 12:02pm Dec 17, 2013 12:02pm
Any one caught the USD/MXN beauty last week?

Attached Image (click to enlarge)
Click to Enlarge Name: usdmxn.jpg Size: 248 KB


g.
I believe . . .
  • #1,151
  • Dec 18, 2013 8:04am Dec 18, 2013 8:04am
Quoting ghous
Any one caught the USD/MXN beauty last week? {image} g.
Hey ghous, I was looking at the setup but I was looking for a breakout trade since price broke through the TL and the 150 and 365 EMAs. What kept me out from shorting bar 1 was the close above the LLS, Weekly LCS and inside the PPZ. Next day's bar (2) was an IB that closed like bar 1, it made me see it like a fake out scenario but the two EMAs just above the bar kept me out from buying. I think that I give too much importance to the S/R created by the EMAs, how should I look at them, how much strength do you think they have as dynamic S/R levels?
Attached Image (click to enlarge)
Click to Enlarge Name: USDMXN 2013-12-18 a 15.02.51.png Size: 39 KB
  • #1,152
  • Dec 19, 2013 5:20am Dec 19, 2013 5:20am
Quoting lenrod
{quote} Hey ghous, I was looking at the setup but I was looking for a breakout trade since price broke through the TL and the 150 and 365 EMAs. What kept me out from shorting bar 1 was the close above the LLS, Weekly LCS and inside the PPZ. Next day's bar (2) was an IB that closed like bar 1, it made me see it like a fake out scenario but the two EMAs just above the bar kept me out from buying. I think that I give too much importance to the S/R created by the EMAs, how should I look at them, how much strength do you think they have as dynamic S/R...
We have basically been in an elongated consolidation period. These periods are generally dreaded as many believe that there is more money to be made in a trending market. For my method I have come to understand that it works the best in side ways scenarios. Yes it means you gotta be quick with your profit taking but it also means a lot more tradable opportunities as obviously there are more carefully crafted swing points that you can feed off.

As for the question pertaining to MAs in a sideways market, they do end up being very limited in their scope when the market is chopping up and down. For me, the touch of the longer term EMA has the most worth when the market hits it for the first time "after some time" such as when pulling back from a major established trend. Its the same logic that drives the belief that "all major MA crossover systems seem magical in trending markets but falter terribly as the market goes sideways"

hope this makes sense.

g.
I believe . . .
  • #1,153
  • Dec 19, 2013 8:12am Dec 19, 2013 8:12am
Quoting ghous
{quote} We have basically been in an elongated consolidation period. These periods are generally dreaded as many believe that there is more money to be made in a trending market. For my method I have come to understand that it works the best in side ways scenarios. Yes it means you gotta be quick with your profit taking but it also means a lot more tradable opportunities as obviously there are more carefully crafted swing points that you can feed off. As for the question pertaining to MAs in a sideways market, they do end up being very limited in...
It makes! Thank you
  • #1,154
  • Jan 1, 2014 12:12pm Jan 1, 2014 12:12pm
Wishing everyone a prosperous 2014.

Trade hard, party harder. Importantly, everything that you do, make sure you love it. Amazing things happen when your heart goes into something.

Been on the side lines the past two weeks. Looking forward to a fruitful 2014 with (hopefully) many fake out setups to munch on.



g.
I believe . . .
  • #1,155
  • Jan 2, 2014 12:11pm Jan 2, 2014 12:11pm
Dear Ghous. Please tell me, fake out works better on Daily chart or H4 chart? It depends on what? Thanks in advance for your reply. You often show charts (fake out) on H4, also and on Daily charts. I understand, it deepends on key levels of support/resistance (key levels of HHR or LLS), but i cannot understand when and how to use your method correctly on H4 or on Daily chart?
  • #1,156
  • Jan 4, 2014 8:46am Jan 4, 2014 8:46am
Quoting Friend1975
Dear Ghous. Please tell me, fake out works better on Daily chart or H4 chart? It depends on what? Thanks in advance for your reply. You often show charts (fake out) on H4, also and on Daily charts. I understand, it deepends on key levels of support/resistance (key levels of HHR or LLS), but i cannot understand when and how to use your method correctly on H4 or on Daily chart?
They work on all time frames. I am actually spending a lot of my R&D time practicing on the hourly charts these days (prior to the year end holidays). At least the more general "pattern" repeats itself everywhere. The most aggressive version of the fake out is where you trading the fake out bar itself. That is, you're placing an order at the close of the very bar that penetrates and fails at the swing high/low. I reserve this aggressive stance for only the best setups (ones with a bigger story to them) ON THE DAILY TIME FRAME only. This is the one I refer to as "a single bar fake out setup".

The other approach, that I use specifically on the 4H is to wait for a multiple confirmation of the HHR/LLS holding. That is, you wait for price to give you that initial fake out and then some subsequent sideways bars that tell you that price has lost complete interest in breaking the HHR/LLS. Its just like additional insurance because you're banking your decisions on more information which I feel is important when you're trading in a slightly more volatile environment (lower time frames).

The idea is, that even a single fake out bar on the daily, represents 24 hours of trading activity. Just by virtue of this characteristic it does hold more value than a 4H bar, even more so than a 1H bar or a 15 min bar. Again this is TOTALLY generally speaking. A lot will of course depend on the quality of the entire setup itself. So on some slightly dodgy setups on the daily too, I do prefer to wait for subsequent confirmation of the HHR/LLS holding. Through my testing I realized that I could save myself from a lot of losing trades by simply waiting for some additional information when trading lower time frames and when trying to evaluate dodgy setups.

hope this helps.

g.
I believe . . .
  • #1,157
  • Jan 25, 2014 12:01pm Jan 25, 2014 12:01pm
Quoting ghous
{quote} EUR/NZD was an easy pass based on the massive PPZ it was headed into. USD/CHF
if you draw the lines like you do EVERY LINE is a massive ppz and if it's not massive then it has a very short distance to go. (aka People Please Zoom !!).
you only see what you want to see and you are not even profitable with what you do. james16 and mike might be profitable but you are not.
  • #1,158
  • Jan 26, 2014 6:12pm Jan 26, 2014 6:12pm
Hi Ghous. Very interesting concept, thank you for sharing with us.

Still need to read through a lot more materials but I wanna see if I got this right.

eurusd D1, pending short at the blue line above, target at the blue line below, stoploss above the wick. Order set on demo account.
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-01-27_0708_eurusd.png Size: 7 KB
Everything you can imagine, is real - Pablo Picasso
  • #1,159
  • Jan 26, 2014 10:59pm Jan 26, 2014 10:59pm
Quoting deltatrade
{quote} if you draw the lines like you do EVERY LINE is a massive ppz and if it's not massive then it has a very short distance to go. (aka People Please Zoom !!). you only see what you want to see and you are not even profitable with what you do. james16 and mike might be profitable but you are not.
You are headed straight for my ignore list. Very very few end up doing that, so at least you could take that as a +1.

g,
I believe . . .
  • #1,160
  • Jan 26, 2014 11:04pm Jan 26, 2014 11:04pm
Quoting Direwolf
Hi Ghous. Very interesting concept, thank you for sharing with us. Still need to read through a lot more materials but I wanna see if I got this right. eurusd D1, pending short at the blue line above, target at the blue line below, stoploss above the wick. Order set on demo account. {image}
Hey D,

I am watching this closely on the 4H. I would typically prefer a quick pull back to the 1.37 RN and a sharp rejection. Would be a legit way to attract fresh selling for the week.

I was considering a short off the daily fake out, but it appeared a little too aggressive given that we're operating in such a mess and the prior bar has been a big bullish bar. Headed against momentum like that is usually a double edged sword. High risk high reward trades.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh4.png Size: 50 KB


g.
I believe . . .
1 trader viewing now