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My Line in the Sand

  • #681
  • Jan 13, 2018 2:21pm Jan 13, 2018 2:21pm
Quoting stevepatt
If we had a magic ball, of course, we would all have been Trading the other GBP Pairs and making a fortune in the rising Market, but we don't. Friday was not a "normal day" for the GBP pairs they all greatly exceeded their ATR. So unless we have a way of knowing a day like Friday is going to occur BEFORE it happens we, which I certainly don't, we should be Trading like we would any other "Average Day". After the fact we think we should have rode the Wave for all it was worth. Any Trade, I now take, I'm looking for no more than +3R return because...
Steve

What was your directional Bias for the week?

look at the dollar index (usdx)
high of the week was made on tuesday
weds and thurs failed to make a new high meaning they only wanted prices lower
this before FOMC

so if dollar index was to go short then this should mean bullish gbp and eur

Steve you are so near,,so Close to being the complete pro trader
you clearly show your skills at reading a chart and marking a chart.
with a little time studying the right material,,,your there mate.
email me and i will point you in the right direction
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  • #682
  • Jan 14, 2018 8:26am Jan 14, 2018 8:26am
Quoting Mr-James
{quote} does your system repaint ?

Hi Mr-James,

Put it on a M1 chart and you will soon see if it repaints.

I no longer use the Half Trend Indicator.
  • #683
  • Jan 14, 2018 9:19am Jan 14, 2018 9:19am
I was put on Strat's ignore list for posting this Post #1,686 on his thread.

I can understand if he thinks I'm going to be a disruptive influence on others following his thread but I was only trying to express my point of view.

So I am going to expand, on the point I was trying to make, here rather than on his thread.

Now in this Post #1,561 he explains the importance of Anticipating how Support or Resistance can and will influence Price Movement.

"Make sure you are READING THE CANDLES in EVERY SINGLE TRADE you place - you can't just let your trade run to support and hope for the best. Your goal this year is to CLOSE/TAKE PROFIT each trade BEFORE your Stop Loss kicks in. When you can do that you will accelerate your PROFIT curve"

On the Chart below we can see Price stalling close to the 1.36500 Half Number and the September 17 High we then see two Bearish Candles.

In the statement, Strat makes above, he says we can't just let our Trade run into Support or Resistance and hope for the best.

Yet in this case we ignore Price starting to stall the two Bearish Candles and the fact we are already beyond the 10 Day Average Range its 13.40 GMT on a Friday afternoon and just stay in our Long Trade.

This is where making statements after the fact look really impressive and yes there was no Selling on this chart but in REAL TIME WE DON'T KNOW THAT IS GOING TO HAPPEN.

If Strat had said, before London Open, today there is going to be no Selling in GBP/USD go Long and I fully expect there to be a new 18 month High at the Friday's Close I would have been the first to congratulate him on being a great Trader.

BUT HE DIDN'T.

The two Posts I have highlighted contradict each other.

None of us know when a day like Friday is going to occur because if we did we would all be millionaires.
Attached Image (click to enlarge)
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  • #684
  • Jan 14, 2018 10:07am Jan 14, 2018 10:07am
Quoting stevepatt
I was put on Strat's ignore list for posting this Post #1,686 on his thread. I can understand if he thinks I'm going to be a disruptive influence on others following his thread but I was only trying to express my point of view. So I am going to expand, on the point I was trying to make, here rather than on his thread. Now in this Post #1,561 he explains the importance of Anticipating how...
your 2 bearish candles was simply large bank funds buying up orders hrnce the large explosive move away
  • #685
  • Jan 14, 2018 12:25pm Jan 14, 2018 12:25pm
hey, Steve, I am on that list too.LOL
  • #686
  • Jan 14, 2018 12:30pm Jan 14, 2018 12:30pm
Quoting stevepatt
I was put on Strat's ignore list for posting this Post #1,686 on his thread. I can understand if he thinks I'm going to be a disruptive influence on others following his thread but I was only trying to express my point of view. So I am going to expand, on the point I was trying to make, here rather than on his thread. Now in this Post #1,561 he explains the importance of Anticipating how...
He is probably got his "period" he put me on his ignore list too, he didn't like that I followed guys using indicators.
  • #687
  • Jan 14, 2018 12:34pm Jan 14, 2018 12:34pm
Quoting devontrader
{quote} your 2 bearish candles was simply large bank funds buying up orders hrnce the large explosive move away

Hi Jason,

After the fact it becomes obvious what was happening.

But at the hard right edge of the screen in real time it becomes a lot harder to just hang in there and hope for the best.

This is the point I was making.

This Post #678 shows a possible Bullish re-entry after the M5 +80 Pip Candle and Institution intentions become clear.
  • #688
  • Jan 14, 2018 12:47pm Jan 14, 2018 12:47pm
Quoting stevepatt
{quote} Hi Jason, After the fact it becomes obvious what was happening. But at the hard right edge of the screen in real time it becomes a lot harder to just hang in there and hope for the best. This is the point I was making. This Post #678 shows a possible Bullish re-entry after the M5 +80 Pip Candle and Institution intentions become clear.
it would be very hard to stand in front of the big red freight train coming straight at you.
easy to say what to do on Saturday different story with money on the line.
  • #689
  • Jan 14, 2018 12:48pm Jan 14, 2018 12:48pm
Quoting blueman
{quote} He is probably got his "period" he put me on his ignore list too, he didn't like that I followed guys using indicators.
Hi Blueman, Dogdays,

I guess, he is only looking for totally dedicated followers of the "Path" with no distractions.

Which, to a degree, is fair enough but I get a sense there is quite a lot of "Ego" involved.

I just get annoyed when I can't have an opposing point of view, without being put on ignore, and so have no way to clarify the point I was trying to make.

Anyway back to the Trading.

  • #690
  • Jan 14, 2018 1:02pm Jan 14, 2018 1:02pm
Quoting dogdays713
{quote} it would be very hard to stand in front of the big red freight train coming straight at you. easy to say what to do on Saturday different story with money on the line.

Hi Dogdays,

He can't make a statement, like the one below, and then ignore it when the Market goes in his direction.

If Price had continued to fall and one of the thread participants had shown a chart with their Stops being hit he would have directed them to the Statement below.

He can't have it both ways, I'm surprised no one else on the thread has realised the contradiction.

"Make sure you are READING THE CANDLES in EVERY SINGLE TRADE you place - you can't just let your trade run to support and hope for the best. Your goal this year is to CLOSE/TAKE PROFIT each trade BEFORE your Stop Loss kicks in. When you can do that you will accelerate your PROFIT curve"
  • #691
  • Jan 14, 2018 4:51pm Jan 14, 2018 4:51pm
Quoting dogdays713
{quote} it would be very hard to stand in front of the big red freight train coming straight at you. easy to say what to do on Saturday different story with money on the line.
depends if your trading as retail or as instituitional trader.

foot prints are all over the charts and the same pattern happens all the time.

all you need on a chart is price action and look at open high low and close of the candle

if you have studied what i have studied all is clear if not you wont know

remember big banks buy on down candles and sell in up candles

they are also looking to buy a discounted prices if not premium prices

banks and instituitons need liquidity to move the price and will always go seeking it.

ask your self,,where is liquidity?
  • #692
  • Jan 15, 2018 1:37am Jan 15, 2018 1:37am
GBP/AUD H1/M5 Short Trade
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  • #693
  • Jan 16, 2018 12:22am Jan 16, 2018 12:22am
Quoting stevepatt
GBP/AUD H1/M5 Short Trade {image}
GBP/AUD H1/M5 Short Trade Result

Entered this Trade from a Limit Sell order, in this particular case it would have been better to "WAIT" for PA.

Attached Image (click to enlarge)
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  • #694
  • Jan 16, 2018 1:23am Jan 16, 2018 1:23am
GBP/USD M5 Observations
GBP/JPY M5 Observations
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  • #695
  • Jan 16, 2018 11:52am Jan 16, 2018 11:52am
Quoting stevepatt
GBP/USD M5 Observations GBP/JPY M5 Observations {image} {image}
I wasn't around to take the GBP/JPY Setup.

But it shows the advantage of taking my time and waiting for PA where I expect to see it.
Attached Image(s) (click to enlarge)
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  • #696
  • Jan 16, 2018 11:58pm Jan 16, 2018 11:58pm
GBP/USD H1/M5 Observations

GBP/CAD H1/M5 Observations

EUR/CAD H1/M5 Observations

Three I'm watching at the moment...
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  • #697
  • Jan 17, 2018 12:28am Jan 17, 2018 12:28am
Quoting stevepatt
GBP/USD H1/M5 Observations GBP/CAD H1/M5 Observations EUR/CAD H1/M5 Observations Three I'm watching at the moment... {image} {image} {image}
EUR/CAD H1/M5 Short Trade

Time will show if I have entered to early...
Attached Image (click to enlarge)
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  • #698
  • Jan 17, 2018 1:14am Jan 17, 2018 1:14am
Quoting stevepatt
{quote} EUR/CAD H1/M5 Short Trade Time will show if I have entered to early... {image}
EUR/CAD H1/M5 Short Trade Result

+30 Pips +2R
Attached Image (click to enlarge)
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  • #699
  • Jan 17, 2018 1:25am Jan 17, 2018 1:25am
EUR/AUD H1/M5 Observations
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  • #700
  • Jan 17, 2018 1:48am Jan 17, 2018 1:48am
Quoting stevepatt
GBP/USD H1/M5 Observations GBP/CAD H1/M5 Observations EUR/CAD H1/M5 Observations Three I'm watching at the moment... {image} {image} {image}
GBP/CAD H1/M5 Short Trade
Attached Image (click to enlarge)
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