The System (Irony included) | Page 16 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

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

Indicator fix...code included.. WHATS WRONG?!? 4 replies

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

Attachments: The System (Irony included)
Exit Attachments

The System (Irony included)

  • #301
  • Nov 13, 2007 7:01pm Nov 13, 2007 7:01pm
Great thread to all contributing.

feb2865 are you familiar with the Darvas Box method? it compliments itself well to the trading methods here and gives some clear rules re-price action, entries and exits on pull backs.

Although this theory often get criticised for giving back to much profit based on the stoploss from box to box it excels in trending markets. This may be useful on a lower timeframe i.e. 4hr for initial entry and SL and has some very clear rules for defining boxes based on price action.

I use the Darvas box in trending markets but have modified based on modem market volatility for SL. These have been based on a three candle reverse and additional box strategies for SL.
  • #302
  • Nov 13, 2007 7:10pm Nov 13, 2007 7:10pm
Hey brother David

This is a 4 hr charts you're showing. The market got down to 1.45 area (currency futures) today but I sat on my hands 'cause I like to see a fractal formed(and confirmed) on the daily charts.

4hr time frames is some sort of a "discount window" for me. That's it.

Ok Leigh I can hear you. I have to be more specific.

My "play" on the 4 hour charts is when the market has broken the higher high/lower low I am looking for . Remember I play conservative in order to minimize risk as much as possible.

I am still looking to buy at discount 1.44-1.45 AREA( see capital words) I don't know if that's gonna happen - nobody knows

But if I see a confirmed fractal going on and the market is moving up in a fast pace, I have no choice but to get onboard FAST!!!!!!


Good to see U around brother

peace
Peace
  • #303
  • Nov 13, 2007 7:22pm Nov 13, 2007 7:22pm
Leigh

I love your posts. Kinda keep us in check

Keep them coming

Peace
Peace
  • #304
  • Nov 13, 2007 7:28pm Nov 13, 2007 7:28pm
Quoting Markj
Great thread to all contributing.

feb2865 are you familiar with the Darvas Box method? it compliments itself well to the trading methods here and gives some clear rules re-price action, entries and exits on pull backs.

Although this theory often get criticised for giving back to much profit based on the stoploss from box to box it excels in trending markets. This may be useful on a lower timeframe i.e. 4hr for initial entry and SL and has some very clear rules for defining boxes based on price action.

I use the Darvas box in trending markets but have modified based on modem market volatility for SL. These have been based on a three candle reverse and additional box strategies for SL.
Markj I am interested in anything that may enhance my understanding of trading without indicators and did a google on the Darvas method It seems that it`s pretty much a basic break-out system right?
  • #305
  • Nov 13, 2007 7:34pm Nov 13, 2007 7:34pm
Quoting feb2865
But if I see a confirmed fractal going on and the market is moving up in a fast pace, I have no choice but to get onboard FAST!!!!!!
So as with EUR/USD (or AUD/USD, NZD/USD), if you see the confirmed V-Formation on the Daily tomorrow, you would enter these, then?

I am thinking that your following quotes would suggest this ...

Quoting feb2865
But when you see an opportunity, go for it. Don't over analyze the charts. You already know what you're looking for.
Quoting feb2865
You’re a trader. You must pull the trigger when opportunity knocks…right??

But you must also have a reasoning behind your trade. This is the secret of my endurance on the markets. I know what’s going on. Because I know I call the shots. I am not “married “to a market. I am married to an “opportunity”.
... okay, I can do that

I was thinking anyway that if we see the formation and we go in, we can always exit if it's not finished retracing. We might still be able to bank at least 50 - 100 pips even then.

Heck, we can even bank a few pips going on the retracement when following the V-Formation and Fractals ... but, hey, I'm not going there, just saying is all, lol :
  • #306
  • Nov 13, 2007 7:35pm Nov 13, 2007 7:35pm
Quoting Markj
Great thread to all contributing.

feb2865 are you familiar with the Darvas Box method? it compliments itself well to the trading methods here and gives some clear rules re-price action, entries and exits on pull backs.

Although this theory often get criticised for giving back to much profit based on the stoploss from box to box it excels in trending markets. This may be useful on a lower timeframe i.e. 4hr for initial entry and SL and has some very clear rules for defining boxes based on price action.

I use the Darvas box in trending markets but have modified based on modem market volatility for SL. These have been based on a three candle reverse and additional box strategies for SL.
Hey Mark

I tried Darvas boxes in the past. About the stop loss, I believe that's how you handle your position in terms of capital. I think they're ok nothing spectacular in my opinion. Just based this comment on experience But I guess you have an edge on that.

I prefer not to add too much content to the mix in order to keep the integrity of the thread.

Peace
Peace
  • #307
  • Nov 13, 2007 7:39pm Nov 13, 2007 7:39pm
Quoting feb2865
Leigh

I love your posts. Kinda keep us in check

Keep them coming
LOL, thanks

---

Okay, that hugging emote is just a little too intimate, especially for us being naked and all.

I'm gonna have to use my own hugging emote in the future (one that doesn't make me feel so touchy-feely : lol)
  • #308
  • Nov 13, 2007 7:49pm Nov 13, 2007 7:49pm
Quoting leighsww
So as with EUR/USD (or AUD/USD, NZD/USD), if you see the confirmed V-Formation on the Daily tomorrow, you would enter these, then?

I am thinking that your following quotes would suggest this ...





... okay, I can do that

I was thinking anyway that if we see the formation and we go in, we can always exit if it's not finished retracing. We might still be able to bank at least 50 - 100 pips even then.

Heck, we can even bank a few pips going on the retracement when following the V-Formation and Fractals ... but, hey, I'm not going there, just saying is all, lol :

I am only trading EUR/USD but as the for the AUD/USD and NZD/USD I personally haven't see these charts today but if you see a confirmed fractal, as long as you know where the trend is..... I say "go girl " LOL

Just make sure you have your stop-loss in place.


You know Leigh I have to tell you a secret but you have to make sure you don't tell anyone ok???

I do counter-trend moves LOL

But that's a big story and I promise I'll explain one day as it requires another setup etc.

Peace
Peace
  • #309
  • Nov 13, 2007 7:53pm Nov 13, 2007 7:53pm
Quoting feb2865
You know Leigh I have to tell you a secret but you have to make sure you don't tell anyone ok???

I do counter-trend moves LOL
ACK!! http://leighswishingwell.com/lp/emotes/shock2.gif

LOL, well, as I said in my Post #270 ... as long as you're successful and profitable with it ... all the power to ya!!

Okay, hush is the word ... your secret is safe with me
  • #310
  • Nov 13, 2007 7:54pm Nov 13, 2007 7:54pm
Feb -

In regards to the following post I had made: http://www.forexfactory.com/showpost...&postcount=288

Would you concur on the setup as I understand it to be?
  • #311
  • Nov 13, 2007 7:57pm Nov 13, 2007 7:57pm
It is a breakout system above the Darvas box. However the formation of the darvas box high has very clear rules that are applied in the forming of a box.

i.e.
- has to be at least 3 lower highs from the high
- if a new low is set below the last candle after at least 3 lower highs then it does not constitute the low or the high of the the box

What are the benefits of the Darvas Box for trend continuation trading?

It will add an exact stop loss point based on acceptable volatility around price action

It defines some rules around pullback, trend continuation and possible trend collapse.

Some of the not so good points for the Darvas Box are that it was not built for modern day market volatility. So the SL for this system was based on the most recent Darvas Box and in a lot of trends a new box may not be established for many days as the strong trend continues. That is were a large amount of profit can be given back.
  • #312
  • Nov 13, 2007 7:59pm Nov 13, 2007 7:59pm
Quoting ownshook
Feb -

In regards to the following post I had made: http://www.forexfactory.com/showpost...&postcount=288

Would you concur on the setup as I understand it to be?

I am so sorry not to reply to you my friend. I kinda have a tendency to miss some posts

Just give me a moment so I can take a closer look at your charts

Peace
Peace
  • #313
  • Nov 13, 2007 8:02pm Nov 13, 2007 8:02pm
Quoting feb2865
Hey brother David

This is a 4 hr charts you're showing. The market got down to 1.45 area (currency futures) today but I sat on my hands 'cause I like to see a fractal formed(and confirmed) on the daily charts.

4hr time frames is some sort of a "discount window" for me. That's it.

Ok Leigh I can hear you. I have to be more specific.

My "play" on the 4 hour charts is when the market has broken the higher high/lower low I am looking for . Remember I play conservative in order to minimize risk as much as possible.

I am still looking to buy at discount 1.44-1.45 AREA( see capital words) I don't know if that's gonna happen - nobody knows

But if I see a confirmed fractal going on and the market is moving up in a fast pace, I have no choice but to get onboard FAST!!!!!!


Good to see U around brother

peace
Thank you Big Bro.

Congratulations to you, your prediction on DJII is perfect!

Yes, it is a 4H chart. You are very patient and conservative in trading. I should learn this from you. And I owed you a favor for that.


By looking for a fractal on daily chart, you mean you will open long positions if E/U price movement appears like the ones from Aug. 17 to Sept.6, and from Oct.1 to Oct 11 and do nothing for price movement from Oct.22 to Oct 25? Please see the attached daily chart ( I don't know why attachment can't be seen).

Again, thank you very much.
Attached Image (click to enlarge)
Click to Enlarge Name: EU daily 1114.JPG Size: 87 KB
  • #314
  • Nov 13, 2007 8:04pm Nov 13, 2007 8:04pm
Actually NZD/USD may need to wait a bit until it breaks .7800 (it looks like it's in a consolidation atm), but attached is EUR/USD for anybody interested
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD4.png Size: 220 KB
  • #315
  • Nov 13, 2007 8:10pm Nov 13, 2007 8:10pm
Quoting Green_David
Please see the attached daily chart ( I don't know why attachment can't be seen).
David (and anybody else having the same problem) ...

What you need to do is, click Preview Post before submitting your post, so you can see if your image took. If it didn't then re-upload it a 2nd time. You don't need to remove/delete the existing one first, you can just upload the exact same file again and it will override the one on the server.

Then click the Preview Post button again to view your post, and you should see the image. Then hit the Submit Reply.

If you still don't see it after the 2nd time, keep doing it until you do. It will eventually take.

* edited - David, you can Edit your post and do what I mentioned instead of reposting a new post with the attachment. That way, you won't have to have two posts with the same chart and it will still show up in your original post.
  • #316
  • Nov 13, 2007 8:19pm Nov 13, 2007 8:19pm
Quoting leighsww
David (and anybody else having the same problem) ...

What you need to do is, click Preview Post before submitting your post, so you can see if your image took. If it didn't then re-upload it a 2nd time. You don't need to remove/delete the existing one first, you can just upload the exact same file again and it will override the one on the server.

Then click the Preview Post button again to view your post, and you should see the image. Then hit the Submit Reply.

If you still don't see it after the 2nd time, keep doing it until you do. It will eventually take.
Thank you. You are a life saver and genius. I also wish I could be hugged by you.
Attached Image (click to enlarge)
Click to Enlarge Name: EU daily 1114.JPG Size: 87 KB
  • #317
  • Nov 13, 2007 8:20pm Nov 13, 2007 8:20pm
Quoting ownshook
I thought I would take a moment to sum up this thread to see if I am on the right track.

On the GBPUSD Day Chart below....we have an overall uptrend and 3 days of corrections.

Todays candle...for example sake....will be considered an end to the correction and the beginning of overall trend resumption.

From what I understand....we wait until the yellow line "HIGH" is taken out (stronger confirmation of trend resumption) .... then we can drop down to the 4 hour and look for a cheaper entry looking for the "V" setup or the 1-2-3 entry on 2 break entry. (or simply use the day chart for entry).

To be honest....looking at the 4 hour chart for today....it is tough to sit on hands and jump the gun on a long entry instead of waiting for the day confirmation.

Stop would be placed under the day candle that proceeds the breakout candle.

Appreciate any critique of my understanding. Thanks.
I have an alarm setup at x price and I go do something else. It all depends. If you think you're gonna miss the bus then forget about the discount and go jump right in. Don't make it a hard rule. You can use the daily chart for entry all along. It's just me I like to buy stuff at discount.

The rest of your understanding is good.

Peace
Peace
  • #318
  • Nov 13, 2007 8:31pm Nov 13, 2007 8:31pm
Quoting feb2865
Hey Mark

I tried Darvas boxes in the past. About the stop loss, I believe that's how you handle your position in terms of capital. I think they're ok nothing spectacular in my opinion. Just based this comment on experience But I guess you have an edge on that.

I prefer not to add too much content to the mix in order to keep the integrity of the thread.

Peace
My apologise,
  • #319
  • Nov 13, 2007 8:36pm Nov 13, 2007 8:36pm
Quoting feb2865
I have an alarm setup at x price and I go do something else. It all depends. If you think you're gonna miss the bus then forget about the discount and go jump right in. Don't make it a hard rule. You can use the daily chart for entry all along. It's just me I like to buy stuff at discount.

The rest of your understanding is good.

Peace

Many thanks for your input. This thread can move pretty fast so it is expected that some posts may get missed.

Once the high is taken out...and you zoom into the 4hr...are you looking for the same "V" formation or do you have a different way of getting into the trade? As a habit...I have always gone a timeframe lower for entry so I can appreciate that move.
  • #320
  • Nov 13, 2007 8:55pm Nov 13, 2007 8:55pm
Quoting ownshook
Many thanks for your input. This thread can move pretty fast so it is expected that some posts may get missed.

Once the high is taken out...and you zoom into the 4hr...are you looking for the same "V" formation or do you have a different way of getting into the trade? As a habit...I have always gone a timeframe lower for entry so I can appreciate that move.

I don't look for a V setup in 4 hr I am looking to buy at discount . I look for price. The V formation is already there on the daily charts.

Peace
Peace
3 traders viewing now