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Trading with range bars ichimoku cloud & awesome oscillator

  • #2,721
  • Edited 7:31am Mar 9, 2018 5:04am | Edited 7:31am
Quoting ichikuse
{quote} No wonder i say i am very grateful that i stumbled on RP's thread last year when i started trading.I can imagine spending years and years of trying different systems and buying some stuff that might not be useful at all.
Yeah that is exactly how i was just system after system i looked at hundreds of them and finally this on just fits me. But like Rocky said its not so much the system as it is how you are disciplined/patiend and for me these six years were more for building my self up to be that kind of a person. Trading really is 80% psihology.
  • #2,722
  • Mar 9, 2018 8:02am Mar 9, 2018 8:02am
Today wasn't good for me. Didn't see the Non-Farm news ( every pair stardet moving ) was in some trades and got whipsawed. Now i am a bit pissed at my self so no more trading for me today. Gonna take the weekend to write down some more rules to my trading plan so tu awoide mistakes like this.
  • #2,723
  • Mar 9, 2018 10:17am Mar 9, 2018 10:17am
Quoting ichikuse
{quote} What RP said is that if a currency has been strong in the last 4 hrs(London session), it might carry on in the US session or reverse.
Thanks man, this makes sense
thinking outside the box
  • #2,724
  • Mar 9, 2018 10:24am Mar 9, 2018 10:24am
So I took this loss on UC earlier (waited for the NFP heat cool down), any hints on possible reason for failure or missing pieces of Techinical Analysis?

best regards
Attached Image (click to enlarge)
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thinking outside the box
  • #2,725
  • Mar 9, 2018 10:30am Mar 9, 2018 10:30am
Quoting Mercennary
So I took this loss on UC earlier (waited for the NFP heat cool down), any hints on possible reason for failure or missing pieces of Techinical Analysis? best regards {image}
As i would look at it is you were trying to go with the trend and you were a bit aggressive as for the conformacion for the trend to continue these to supports were close together and strong. You would need a break.
Attached Image (click to enlarge)
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  • #2,726
  • Mar 9, 2018 11:04am Mar 9, 2018 11:04am
Quoting Gbdaja
{quote} As i would look at it is you were trying to go with the trend and you were a bit aggressive as for the conformacion for the trend to continue these to supports were close together and strong. You would need a break. {image}
And one Thing I forgot to ask, how would you guys deal with the SL, could I've mitigated my risk lowering above the Kijum Sen? Because I noticed RP's losers are really small compared to those -20 -15's pips.
thinking outside the box
  • #2,727
  • Mar 9, 2018 11:12am Mar 9, 2018 11:12am
Quoting Mercennary
{quote} And one Thing I forgot to ask, how would you guys deal with the SL, could I've mitigated my risk lowering above the Kijum Sen? Because I noticed RP's losers are really small compared to those -20 -15's pips.
I would exit like these.
Small red lines are two possible exits.
Attached Image (click to enlarge)
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  • #2,728
  • Mar 9, 2018 11:17am Mar 9, 2018 11:17am
Quoting Gbdaja
{quote} I would exit like these. Small red lines are two possible exits. {image}
Thanks mate, In poker there is an old saying, "take care of your losers because the winners take care of themselves"
thinking outside the box
  • #2,729
  • Mar 9, 2018 11:21am Mar 9, 2018 11:21am
Quoting Mercennary
{quote} Thanks mate, In poker there is an old saying, "take care of your losers because the winners take care of themselves"
Never heard that one but couldn't agree more.
  • #2,730
  • Mar 9, 2018 11:55am Mar 9, 2018 11:55am
Quoting Mercennary
So I took this loss on UC earlier (waited for the NFP heat cool down), any hints on possible reason for failure or missing pieces of Techinical Analysis? best regards {image}
Sometimes NFP trades just dont work out because the figures could be inconclusive.
Today US stats showed a huge increase in jobs but the unemployment rate fell unexpectedly.The wage rate is arguably more important perhaps because it unexpectedly fell and this is bad for dollar bulls because it might mean the FED will not be too hungry to increase rates.This is probably why today's NFP market moves were not straight forward and the market took a long time to make decisions.So sometimes technical analysis is perfect but trades dont work out because of human emotions.There are also other stuff thats not on the calendar that can spook markets eg tweets from the president.
  • #2,731
  • Mar 9, 2018 12:03pm Mar 9, 2018 12:03pm
Quoting Mercennary
So I took this loss on UC earlier (waited for the NFP heat cool down), any hints on possible reason for failure or missing pieces of Techinical Analysis? best regards {image}
Im trying to figure out your exact entry and if its a sell or buy...
  • #2,732
  • Mar 9, 2018 12:05pm Mar 9, 2018 12:05pm
I made a fortunate 70 pips after the NFP. I bought gold and moved the stop loss to break even and left the office to go home.I only looked at the chart 2 and a half hours later to see 70 pips!
Attached Image (click to enlarge)
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  • #2,733
  • Mar 9, 2018 12:10pm Mar 9, 2018 12:10pm
Quoting ichikuse
I made a fortunate 70 pips after the NFP. I bought gold and moved the stop loss to break even and left the office to go home.I only looked at the chart 2 and a half hours later to see 70 pips! {image}
Nice trade... Just wondering where was your entry?
  • #2,734
  • Mar 9, 2018 12:11pm Mar 9, 2018 12:11pm
Quoting ichikuse
I made a fortunate 70 pips after the NFP. I bought gold and moved the stop loss to break even and left the office to go home.I only looked at the chart 2 and a half hours later to see 70 pips! {image}
Sorry i see it now the second arrow..
  • #2,735
  • Mar 9, 2018 12:13pm Mar 9, 2018 12:13pm
Quoting ichikuse
I made a fortunate 70 pips after the NFP. I bought gold and moved the stop loss to break even and left the office to go home.I only looked at the chart 2 and a half hours later to see 70 pips! {image}
Looks like a profitable drive home--and without a chance to screw-up a big winner. Congratulations, and welcome home!
  • #2,736
  • Mar 9, 2018 3:22pm Mar 9, 2018 3:22pm
Quoting dwe213
{quote} Looks like a profitable drive home--and without a chance to screw-up a big winner. Congratulations, and welcome home!
it is indeed ! like RPs sleep time ! congrats ichikuse you just made it one step further from all of us to replicate RPs trading style :- )
happy weekend every buddy
  • #2,737
  • Mar 9, 2018 3:35pm Mar 9, 2018 3:35pm
Quoting golden-way
{quote} it is indeed ! like RPs sleep time ! congrats ichikuse you just made it one step further from all of us to replicate RPs trading style :- ) happy weekend every buddy
Lol. That trade materialized because i had no chance to open charts and check the trade.I lost my phone which had mt4 and i had not installed mt4 on my current phone.However i have learnt the benefit of letting a trade run for some time.Its still long way to trade anywhere near Rp's levels.
  • #2,738
  • Mar 9, 2018 4:18pm Mar 9, 2018 4:18pm
Quoting ichikuse
{quote} Im trying to figure out your exact entry and if its a sell or buy...
Sold on the break of triangle, red arrow is pointing the entry bar
thinking outside the box
  • #2,739
  • Mar 9, 2018 4:53pm Mar 9, 2018 4:53pm
Quoting Mercennary
{quote} Sold on the break of triangle, red arrow is pointing the entry bar
I guess the market was not decided yet when you took the trade.
RP has a high probability strategy to trade news.When news causes price to spike up and/or down,the areas where price spikes up/down to become support/resistance areas.So he normally takes a break of those prior knee jerk spikes.This way is more conservative but very high probability i think.
I have attached a Nfp trade RP took maybe last year or so.He bought on the break of the spike area.In this thread there are a few similar trades.So if we use RP's strategy u seem to have entered too early since you entered within an area of support and resistance and not outside it.The trade might have worked out indeed but waiting for the break of the spike area saves us more money from whipsaws.
Attached Image (click to enlarge)
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  • #2,740
  • Mar 9, 2018 9:38pm Mar 9, 2018 9:38pm
Quoting ichikuse
{quote} I guess the market was not decided yet when you took the trade. RP has a high probability strategy to trade news.When news causes price to spike up and/or down,the areas where price spikes up/down to become support/resistance areas.So he normally takes a break of those prior knee jerk spikes.This way is more conservative but very high probability i think. I have attached a Nfp trade RP took maybe last year or so.He bought on the break of the spike area.In this thread there are a few similar trades.So if we use RP's strategy u seem to have...
Great explanation, thank you for taking the time to help me out mate, however one question comes in my mind, I see many examples where RP enter after a trendline break and others where he enter after a support or resistance break, but how does one decide between one or another? One is more aggressive other more conservative.
thinking outside the box
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