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  • #101
  • Jan 16, 2020 7:34am Jan 16, 2020 7:34am
Quoting stevepatt
{quote} Hi Skracor, It's interesting to Observe what happens to Price when we see a Break and Close above/below a previous H4 Bar. A "Lower Time Frame" gives us more "detail" of what happens within a H4 Bar. It's interesting to Observe how Price reacts when it returns to Test the Break Level. As you are aware the Market is Fractal by Nature and the same things happen on all "Time Frames" because Price is Price irrespective of Time If this doesn't fit in to what you are discussing just let me know and I will delete the post. {image} {image}
Hi Stevepatt,

Very cool observation. I checked it on chart and it's amazing how the price come back to these levels. I'm going to check your thread as well .

Take care guys!
K.
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  • #102
  • Jan 16, 2020 8:35am Jan 16, 2020 8:35am
Quoting Kruspe
Dear Skracor247, Such a great thread, good job! I must say that we are on the very same page regarding 3 x push, cycles, time-frame illusion etc. Can't wait to find out even more! I need slightly more time to fully understand (re-create) your S/R zones. Thanks! K.
You are welcome!
  • #103
  • Jan 16, 2020 10:49am Jan 16, 2020 10:49am
We do not always have the best idea where the price will turn when it is pushing into new territory. If you are running your trading like a business you need to be able to project a decent target for your profits. I have seen a multitude of different methods for setting profit targets. The price structure itself should provide some indication of what we should do.

Another exercise to get to know price structure:


Get on a Daily chart of the pairing you are studying. Identify where price has turned in 'new' territory.

Attached Image (click to enlarge)
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The next question I ask is, "What data can I gather from where price turned?".
I then marked the bottoms with S/R to see if they would tell me anything. There was nothing on the screen as far as past price structure S/R to go off of.
After that, I drew a trendline over top of the first push in a cycle. I then cloned the trendline I drew and overlayed that over the next two pushes in the cycle.

Can I make a reasonable projection from these observations? I think I can. While this doesn't give me a 100% win rate it should still be enough to make money in the long run.

Attached Image (click to enlarge)
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Looking over these charts I was reminded of the old thoughts on 'Round Numbers'. Could the institutional money be working off those perhaps? Hmm... (rhetorical)
  • #104
  • Jan 16, 2020 2:58pm Jan 16, 2020 2:58pm
This is the way how I draw levels / 3 pushes
Attached Image (click to enlarge)
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  • #105
  • Jan 16, 2020 3:00pm Jan 16, 2020 3:00pm
Quoting Kruspe
This is the way how I draw levels / 3 pushes {image}
  • #106
  • Jan 18, 2020 7:45pm Jan 18, 2020 7:45pm
Hi Skracor,
You started this thread with levels and how to draw those. After this last installment with the repeating and repeatable trendlines it seems to me the whole process should start with these. Perhaps it would run like this: draw 3-thrust lines on weekly; repeat on daily; repeat on 240. Now look for important/likely levels around those discovered trendlines. Does this make sense or am I missing something?
Thanks!
  • #107
  • Jan 19, 2020 8:58am Jan 19, 2020 8:58am
Quoting OldKid
Hi Skracor, You started this thread with levels and how to draw those. After this last installment with the repeating and repeatable trendlines it seems to me the whole process should start with these. Perhaps it would run like this: draw 3-thrust lines on weekly; repeat on daily; repeat on 240. Now look for important/likely levels around those discovered trendlines. Does this make sense or am I missing something? Thanks!

Well, my aim for this thread is to encourage new traders and perhaps some discouraged traders to look at price charts in new ways. To come up with solutions that are not 'when stochastic does this then you enter on the moving average touch and cross your fingers'.

As I said, I am sharing things that have helped me. I purposely put this thread in trading discussions instead of trading systems because I wanted discussion.

If you are seeing a way to take advantage of the information I am sharing I would be more than pleased if you put up a chart showing some of the ideas that are bubbling to the surface.

My latest post is meant as an exercise to gain experience and familiarize the trader with price structure and perhaps some of the nuance that goes along with trading. It is historical in nature but with practice should be applied to current price so that bias and a projection can be made. The goal is profits even if our charting/entries are not perfect.
  • #108
  • Jan 19, 2020 4:01pm Jan 19, 2020 4:01pm
Back to trading.

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There is much more to consider.
  • #109
  • Jan 19, 2020 4:13pm Jan 19, 2020 4:13pm
This is my EURUSD chart
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  • #110
  • Jan 21, 2020 7:02pm Jan 21, 2020 7:02pm
Messing around.

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  • #111
  • Jan 22, 2020 2:38pm Jan 22, 2020 2:38pm
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  • #112
  • Jan 23, 2020 8:48am Jan 23, 2020 8:48am
I think everybody gets the idea.

If there are any more questions I will answer them to the best of my ability. Good trading to you all.
  • #113
  • Jan 23, 2020 9:19am Jan 23, 2020 9:19am
Quoting Skracor247
Back to trading. {image} There is much more to consider.
Eur Update.

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  • #114
  • Jan 23, 2020 11:51am Jan 23, 2020 11:51am
Quoting Skracor247
{image}
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  • #115
  • Jan 23, 2020 12:20pm Jan 23, 2020 12:20pm
EUR/CAD idea floating in my head.

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  • #116
  • Jan 24, 2020 10:44am Jan 24, 2020 10:44am
Quoting Skracor247
{quote} {image}
Nothing wrong with being mostly right. I hope I have been a benefit to you frustrated traders out there. Keep going and learning you will make it. Don't be discouraged even after 10 years of failure.

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  • #117
  • Jan 27, 2020 7:59am Jan 27, 2020 7:59am
Quoting Skracor247
EUR/CAD idea floating in my head. {image} {image}
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  • #118
  • Jan 29, 2020 7:43am Jan 29, 2020 7:43am
Quoting Skracor247
{quote} Nothing wrong with being mostly right. I hope I have been a benefit to you frustrated traders out there. Keep going and learning you will make it. Don't be discouraged even after 10 years of failure. {image}
Yeah, last USD/CHF update. I want to talk about maximizing profit next.

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  • #119
  • Jan 30, 2020 1:46pm Jan 30, 2020 1:46pm
We have all heard of the dangers of the Martingale System. If you don't know what that is DON'T look it up. You could, however, reverse that 'averaging down' thinking to increase the profits of your winners.

Instead of adding to your positions as they become larger and larger losers. Consider adding to your winners as they become larger. If your trading is already profitable(say 75% win rate or better) and the number of pips you are gathering per profitable trade is more than 30 pips you could add to your in profit trades every 10 pips. You would still be increasing your chances of a margin call but a margin call in profit is always preferable to a margin call in a loss.

Make sure you always have a Take Profit set so that you can get out of your trade at the optimal time. Also raising your SL for protection is necessary although we are technically using the Margin call as a SL.

Credit to CJ for this idea too. I hope this helps some newer traders.
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  • #120
  • Feb 4, 2020 1:26pm Feb 4, 2020 1:26pm
In my opinion, being a trader first of all means that you need to keep abreast of events and be able to analyze everything that happens in practice. It's not just because you have to work with a lot of information and constantly think about the cause-and-effect relationship that may arise between one or another asset. Therefore, it is not enough to read once an article about the basic laws of trading or forex, you need to collect daily data about what is happening in the world today and what consequences it will have next. Because if you act on the fact, when the market has already reacted - your profit will always be minimal.
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