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Igrok Method. Q's & A's. Comments, thoughts and ideas

  • #421
  • Jun 17, 2007 9:10am Jun 17, 2007 9:10am
Quoting Jack.C
Hello Igrok,

I read your book a few weeks ago and you wrote that before Central bank interventions there are almost always rumors of it happening, so you can prepare to not get caught on wrong side.

My question is where is a reliable source(s) to get such warnings so we won't get wiped out in such events.

I ask because trading 5 min charts and lower, my stops are relatively tight. This could cause me to lose many many times my original risk stop amount possibly wiping out my account if caught on the wrong side.
Do these rumors get reported almost every time - as for my style of trading i think it would be essential.

p.s: Thank you for all your efforts in these posts, it is really appreciated

best regards,

Jack C
Usually before intervention government officials show in advance some concerns regarding "inappropriate" exchange rates. But obviously there is no guarantee that the actual intervention will be expected by the market.
  • #422
  • Edited 11:59am Jun 17, 2007 9:18am | Edited 11:59am
Quoting jotty
HI Igrok,
Do you think the USD/JPY is gona test the high at 125.75 before a correction
takes place
I didn't say anything about USD/JPY and have no idea what it is going to do at current levels except fo the fact that technically it is likely to reach 134.00 area some time this year.
Other JPY crosses mentioned in my previous post have almost reached projected levels by now and are likely to start a correction on Monday. This correction thought might happen because of the general USD strength opposite to other major currencies weakness and thus might not lead directly to USD/JPY correction. AUD/JPY for example is unlikely to trade higher than 104.30-50 level. GBP/JPY and EUR/JPY also look toppish here.
  • #423
  • Jun 20, 2007 4:32pm Jun 20, 2007 4:32pm
Monthly AUD/JPY chart.
Attached Image (click to enlarge)
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  • #424
  • Jun 20, 2007 4:50pm Jun 20, 2007 4:50pm
Quoting Igrok
Monthly AUD/JPY chart.
God I wish my amateur MT4 charting had as nice and prope history as your charts have

Very nicely done / predicted / called / analyzed / stated. (Take your pick)


I chose the main pair(AUDUSD) to trade this however as Gold got hit again.


Always love to see your charts Igrok
Trust price. Know yourself.
  • #425
  • Jun 20, 2007 4:55pm Jun 20, 2007 4:55pm
Igrok is that chart from omega charts?
Is the current GBP/USD chart a diamond that has just hit the top border
  • #426
  • Edited 5:20pm Jun 20, 2007 5:07pm | Edited 5:20pm
Quoting jotty
Igrok is that chart from omega charts?
Is the current GBP/USD chart a diamond that has just hit the top border
No. This is Future Source. Don't think it's a diamond.
  • #427
  • Jun 20, 2007 9:23pm Jun 20, 2007 9:23pm
Igrok is the main direction of the move for the USD/JPY towards the downside until it takes out the high of the week at 123.74
  • #428
  • Jun 21, 2007 8:30am Jun 21, 2007 8:30am
Quoting jotty
Igrok is the main direction of the move for the USD/JPY towards the downside until it takes out the high of the week at 123.74
At this moment it seems it made a new high by one pip. It also seems that there is a two-diagonal diamond in progress on hourlies.
  • #429
  • Jun 21, 2007 9:13pm Jun 21, 2007 9:13pm
cool the diamond just broke to the upside on the 1hr chart right.
Igrok how do you differentiate between a diamond that is going to reverse and a diamond thats going to continue in the original trend direction
  • #430
  • Jun 21, 2007 9:24pm Jun 21, 2007 9:24pm
Quoting jotty
cool the diamond just broke to the upside on the 1hr chart right.
Igrok how do you differentiate between a diamond that is going to reverse and a diamond thats going to continue in the original trend direction
Don't think so. It is definitely not a diamond, but might turn into a broadening triangle .
  • #431
  • Jun 22, 2007 11:42pm Jun 22, 2007 11:42pm
Igrok,
wat do you make of this rally in the GBP
it seems to have broken the channel on the weekly charts
  • #432
  • Jun 24, 2007 11:37pm Jun 24, 2007 11:37pm
Dear Sir,

I've bought a copy of your book and realized that in most templates, "Reverse if stops triggered" is utilized. May I know,

1) What exactly does "Recommended with automatic entry-stops" mean?
2) Which of the 3 classes of templates would you recommend for beginners, Average Daily Trading Range, Technical Formations, or Trendlines, Support and Resistance?
3) Which brokers would you recommend in terms of their execution of "Reverse if stops triggered" (ie, which brokers' trading station/platform is/are suitable for your discretionary trading method?)

Many thanks in advance =)

Regards,
Gyii
  • #433
  • Jun 25, 2007 3:32pm Jun 25, 2007 3:32pm
Quoting jotty
Igrok,
wat do you make of this rally in the GBP
it seems to have broken the channel on the weekly charts
I don't consider it as a channel. Too inaccurate. Just don't know what it is. But the reason for coming back up was serious enough, because USDX had to fill up the gap left at 82,29 and this is what the USD in general has been doing since topping out.
  • #434
  • Jun 25, 2007 3:43pm Jun 25, 2007 3:43pm
Quoting Gyii
Dear Sir,

I've bought a copy of your book and realized that in most templates, "Reverse if stops triggered" is utilized. May I know,

1) What exactly does "Recommended with automatic entry-stops" mean?
2) Which of the 3 classes of templates would you recommend for beginners, Average Daily Trading Range, Technical Formations, or Trendlines, Support and Resistance?
3) Which brokers would you recommend in terms of their execution of "Reverse if stops triggered" (ie, which brokers' trading station/platform is/are suitable for your discretionary trading method?)

Many thanks in advance =)

Regards,
Gyii
1. "Automatic entry stop" means placing a stop order to enter a new position in the direction of the momentum. Usually can be used for entering a position at some break-out level.
2. Beginners are usually poorly equipped with technical skills and their abilities of technical trading are limited. ADTR concept is easier to follow.
3. I'm not familiar with the most of the modern dealers' services. Can't recommend anyone specific.
4. "Stop and reverse" should be recommended only if and when there is strong chance for a decent range extention. Given the fact that nowadays the intraday ranges became shorter I would utilize this feature only for extended period of time such as intraweek trading.
  • #435
  • Jun 25, 2007 10:23pm Jun 25, 2007 10:23pm
Dear Sir,

Thanks alot for the info, appreciate it =)

To everyone out there, mind sharing your recommendations for brokers in terms of their execution of "Reverse if stops triggered"?

Thanks!
  • #436
  • Jun 26, 2007 10:06am Jun 26, 2007 10:06am
"Beat the odds" Where is it? Can I find it in the net?
  • #437
  • Jun 26, 2007 1:24pm Jun 26, 2007 1:24pm
Quoting Igrok
I don't consider it as a channel. Too inaccurate. Just don't know what it is. But the reason for coming back up was serious enough, because USDX had to fill up the gap left at 82,29 and this is what the USD in general has been doing since topping out.
Igrok, why does the market need to fill gaps? I see this happen a lot but would like to understand why.

thanks for this thread :-)
  • #438
  • Jun 26, 2007 3:50pm Jun 26, 2007 3:50pm
Quoting meromar
"Beat the odds" Where is it? Can I find it in the net?

http://www.amazon.com/s/ref=nb_ss_gw/104-3149422-7159966?url=search-alias%3Daps&field-keywords=beat+the+odds+in+forex+trading
quote of the day: . It's like deja-vu all over again
  • #439
  • Jun 27, 2007 4:38pm Jun 27, 2007 4:38pm
Greetings Igrok,

What are your views on drawing trendlines. Apparently there are two different ways of doint this: 1. The TD Supply/Demand Trendline and 2. The standard way.

I am of the view that trendlines are the most powerful trading tools and am trying to find the best way to validate a trendline breakout. I await your expert advise. Thank you.

forexnetworth
  • #440
  • Jun 28, 2007 9:10pm Jun 28, 2007 9:10pm
Hi Igrok,

Would appreciate your comments on the pattern i am looking at and my personal views of the probable trend formation.

Are we on the same wavelength? Looking to learn more from your inputs sir. i see 440 as a very important level.
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