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Point pivot trend line and fibo system (Semafor included) 14 replies

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An interesting read - Daily and 60 Min Strategy - Charts included 3 replies

Attachments: The System (Irony included)
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The System (Irony included)

Hey feb, you get in on that gold trade? Mmm... ticks...
Mr. Trend
Quoting scalpt
If you're using the 1 hr chart, to me, you are trading in the trench. This is the zone where I made most of my pips, and where most traders stay away from. I don't want to be in the way of this thread but if anyone seriously want to implement this method I'd suggest also to learn the chart using entry and exit from Dan Zanger at: http://www.chartpattern.com/cf/index.cfm

Good trading to all,

scalpt
thanks for sharing the system
Quoting Green_David
Seems this thread are getting prosperous.

Thank you Feb, TV, OND, ian, leigh, Mr. Trend, alcalstro and all other friends for your great contributions.

I think I should read all again from the first page.

Well, this is the summary. (Feb's and OND's method will become the same with TV's method if 4H is very big and its close is higher than previous 4h's highest).

1. Look daily chart for trading direction(weekly also, if necessary), i.e. long or short.
2. Wait patiently for retracement. Better not chase trend.
3. When retracement takes place, zoom in to look into 4H chart for a discount price (or good timing, more precisely IMO) .
4. Open your position, when 4H bar indicates the end of the retracement, i.e. there is a hammer, engulfing bar, V-form, the 4H bar has broken retracement trend line, etc. (Do your price action analysis)
5. As Feb said, patience plays an extremely important role. Ignore short time frame noise.

thank you.


(P.S. I followed Feb's method in e/u trading, entered and closed about 4~5 times, 4 successful. 1 stop loss. If I am patient and wiling to give market 150 ~200 pips for stop loss, my profits is more than 200 pips, there would be no stop loss at all, there would be no stupid close and open again with higher price. OND is correct, by this way, stop loss would not happen usually.)
David,
Thank you for your summary. I have a question regarding your E/U trades. Would you mind posting a chart(s) with your 5 trades in this pair? Are they based on the daily? I have been following this pair and have not seen that many trades recently, so i want to know what I am missing. What is that i am not seeing that you are?

On another topic, and this goes to everybody in here, i trade the dailies because I have a daily job that takes me away from my trading computer during the most active trading hours: from 6:00 AM (EST) to 5:00 PM (EST). And that is OK. I am happy with the dailies. Less noise. But here is my question: When i see a potential setup, I tend not to go down to the 4hrs to look for a better price because when I am at my computer the market is very slow (the beginning of the asian session). Have any of guys this problem too? How do you solve it? or do you just jump in regardless of the price (that is what i do. I buy it at the market price or at a predetermined buy-stop/sell-stop price. But no bargaining)?
Quoting Mr Trend
Hey feb, you get in on that gold trade? Mmm... ticks...


Leave some money for the rest of us mortals, Mr. Trend.
Quoting piphitman
clockwork....

I went short on EUR/CHF @ 1.6323 as soon as it went below the previous days low....and then another sell order on the retrace at 1.6347. The Weekly "V" fractal is showing strong downward since 10/28, daily trend appears to be downward since 10/11. I took the 11/20 candle as start of "V", 11/21 candle is an inside bar, but 11/22 gives us a lower low, and the 11/23 candle I took as confirmation of an entry.

Did I analyze that correctly even though it appears the 11/23 candle is looking more like a pin bar now with a possible reversal?
I personally would have felt better seeing 1.6200 on this pair before shorting it.

However, if the pinbar doesn't get broken to the upside, it has a trend line to fight with, if it goes through there, it could drop faster.

I could be wrong, but that is what makes markets.....you going one way, me going the other. As long as you are not placing too much of your equity at risk, say....2%?, it's a cheap lesson even when you are wrong.

My thoughts on this pinbar going long is to hold on for quite some time. I'm looking more into a week or two long trade. But I will only take what it is offering.
Quoting Mr Trend
Hey feb, you get in on that gold trade? Mmm... ticks...

Of course - I can't let that baby fly higher LOL


Peace
Peace
Hello Dear Feb2865, OND, Trader_V, Leighsww and others, I have just compiled all the great posts that I found the most important regarding Feb method on this thread and think to share it if people interested.

All of them are posts of either Feb2865, Trader_V, OND, Leighsww and others that I have put under different sections.

I find it very useful as a guide to remember the "saillant" points of this great method.

Hope it helps

Edit: Please go to post 816 to see my word document file with annotated chart. Thank

sincerely

Shreem
Quoting shreem
Hello Dear Feb2865, OND, Trader_V, Leighsww and others, I have just compiled all the great posts that I found the most important regarding Feb method on this thread and think to share it if people interested.

All of them are posts of either Feb2865, Trader_V, OND, Leighsww and others that I have put under different sections.

I find it very useful as a guide to remember the "saillant" points of this great method.

Hope it helps

sincerely

Shreem
excellent!!

Is there a possibility to add some charts ???

Thanks. Very well documented

Peace
Peace
Quoting clockwork71
Leave some money for the rest of us mortals, Mr. Trend.
No, darn it, it's all mine!!!! *maniacal laughter*
Mr. Trend
Quoting feb2865
Of course - I can't let that baby fly higher LOL


Peace
You better not be shortin' it... I don't need you collasping the futures market the week after vacay... Let it get to 850 and you can do whatever you want... :
Mr. Trend
Quoting feb2865
excellent!!

Is there a possibility to add some charts ???

Thanks. Very well documented

Peace
Hello Dear Feb2865, yes it is definitely possible. Just tell me which charts you want me to add (either from this thread or others) and will do that happily for you.

Feb, will add some charts from the thread and you just tell me if you want any others

Edit: Just wanted to told everyone that I am currently adding charts to the word document and will re-post this document once done. Thank.

Sincerely

Shreem
Hi Traders:

Any thoughts on next week potential trades to look at on any pairs?

Also have you found some pairs better to trade on a daily chart?

Thanks
Zee
ZHK
Quoting shreem
Hello Dear Feb2865, yes it is definitely possible. Just tell me which charts you want me to add (either from this thread or others) and will do that happily for you.

Feb, will add some charts from the thread and you just tell me if you want any others

Edit: Just wanted to told everyone that I am currently adding charts to the word document and will re-post this document once done. Thank.

Sincerely

Shreem
Thanks for your efforts in pulling everything together Shreem
Quoting zhkzhk
Hi Traders:

Any thoughts on next week potential trades to look at on any pairs?

Also have you found some pairs better to trade on a daily chart?

Thanks
Zee
Hello Zee,

No offence intended but perhaps it would be better if you post some charts that have caught your attention and then myself and others can critique your analysis?

I think the thread is going to be most helpful if everyone is taking what they learn along the way and using it to analyse the markets. Me posting all my trade ideas wouldn't really stimulate much learning in others I fear.

Hope you take this in the encouraging spirit it is intended

O N D
Quoting feb2865
I am in since feb 2007

last bet was on Aug 23 2007

Peace
This post from feb reminded me that I should probably clarify something I haven't mentioned yet.

Us price action traders talk about trading being boring and that learners are on the right track when the thrill and excitement of jumping on and off a runaway train starts to fade.

Let me tell you, often the most successful form of trading is the most utterly boring - trading in the long term.

What I wanted to clarify was my trading strategy. A lot of my trades are what most forex traders would consider long term (though stock investors wouldn't!). The way I tend to work is to keep a portion of my original position open if the expected direction is still as it was when I initiated that position.

A couple of examples are that I am still long AUDUSD from June 2006 with added positions in October 2006, March 2007 and September 2007. I'm short USDCHF from February 2007 with added positions in June and July. (A clue - you'll need weekly charts to spot my entries )

The point I'm making is that a big, but very rarely discussed, part of my trading is these longer term trades. On this thread I more likely to talk about the shorter term stuff. I am often in a long term position whilst dipping in and out of additional positions in the same market.

Sometimes I'm long a market and I add another long and it too turns into a long term position. Sometimes I'm long a market and I take other short term longs and sometimes i'm long a market and I take other short term shorts etc etc.

I personally believe that all traders who want this to be their source of riches for evermore need to have this balanced approach of long term accumulation and short term strategic positioning. It will not suit everyone to hold a position from months ago whilst the market goes 400 ticks against that position but I would urge everyone, when the basics are learned and understood and the finances are secure, to at least consider this approach.

O N D
Quoting Old_Not_Dead
Thanks for your efforts in pulling everything together Shreem
Hello Dear OND, your most welcomed. It is my pleasure to help anybody on this thread.

Just want to inform all that I have re-work my previous word file on the great method of Feb2865 and the great contribution of Trader_V, Old Not Dead, Leighsww and others.

I have made it under different sections and there are charts annotated accompanying them.

I think it can be a useful tool for new traders coming in this thread.

Devising this word document was a great exercise as it has help me to work and think about how to construct my personal trading plan using the great posts and charts of this thread.

Again, thank to all experienced traders to share your great knowledge and experience of the markets with us. It is very very much appreciated.

I am deleting the previous word file so that people are only looking at the polished's one.

Sincerely

Edit: Please, Feb2865, Trader_V, OND, Leighsww or others, if you find any inconsistencies in my word doc or charts, please let me know.

Shreem
Attached File(s)
File Type: doc Resume of Feb2865, Trader_V, OND and others views on trading naked charts.doc   746 KB | 1,834 downloads
Quoting shreem

Edit: Please, Feb2865, Trader_V, OND, Leighsww or others, if you find any inconsistencies in my word doc or charts, please let me know.

Shreem
One thing I am conscious of is that there are a lot of quotes in there from various sources. I'm always very mindful that this is a thread feb started to talk about his interpretation of "how to trade". Every trader will differ slightly in their approach and his is different to mine and mine is different to TV etc etc.

I appreciate this might be too much work but I wonder if it would be better to have the document split into individual sections based upon the author and approach. So, a section for Feb, Trader V, myself etc. Alternatively, maybe just attributing each quote in your document to whomever said it. The reason I suggest this is that a potential reader might get confused by the quotes as they don't all entirely agree with each other.

Hope that helps and, again, great work!
Quoting Old_Not_Dead
One thing I am conscious of is that there are a lot of quotes in there from various sources. I'm always very mindful that this is a thread feb started to talk about his interpretation of "how to trade". Every trader will differ slightly in their approach and his is different to mine and mine is different to TV etc etc.

I appreciate this might be too much work but I wonder if it would be better to have the document split into individual sections based upon the author and approach. So, a section for Feb, Trader V, myself etc. Alternatively, maybe just attributing each quote in your document to whomever said it. The reason I suggest this is that a potential reader might get confused by the quotes as they don't all entirely agree with each other.

Hope that helps and, again, great work!
Hello Dear OND, thank for your comment. Yes, you are right, it is a great idea to define which quote belong to which traders as to not confuse any traders reading it.

However, as maybe 95% of quotes in the word document belong to Feb2865, I think it will be very long to retrace the few posts belonging either to you or Trader_V. If people are really confused about differents posts saying opposite things, then I will definitely take the necessary time to edit it. But in my humble opinion, when reading this resume, I do not see conflicting or confusing thoughts.

Dear OND, thank again for your suggestion.


Sincerely

Shreem
Quoting shreem
Hello Dear Feb2865, OND, Trader_V, Leighsww and others, I have just compiled all the great posts that I found the most important regarding Feb method on this thread and think to share it if people interested.
WoW, thanks shreem for the FANTASTIC doc file, as well as including some of my quotes in it! I feel very honored!

As far as my quotes are concerned, it is not necessary for you to put my name next to them. That would be far too much work/effort for you to have to read through this entire thread again to look for them, so don't worry about doing that for my quotes.

Again, TERRIFIC job you have done with providing people a comprehensive summary of the finer points and teachings of feb's thread!!
Hello to all, just wanted to post a chart example of high probability setups using the concept of Feb V formation on daily chart. This chart has been included in the word document.

By looking at these examples, we can clearly see the importance of being patient and waiting for the alignement of all key components of Feb method of V formation setup which are:

A) A "V shape formation" which consist of retracement candles followed by reversal candles.
B) Presence of a lower fractal (in an uptrend as it is the case for Euro).
C) Higher close of candle (2) above high of last retracement candle (1).
D) New higher high candle (3) above high of candle (2) which become the entry candle.
E) Not essential but it's the preference of Feb, retracement of number 3 candle which can be used to get a discounted price on the 4H chart.

Hope it is of any help

Sincerely

Shreem
Attached Image (click to enlarge)
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