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PowerTrading/The River

  • #261
  • Nov 14, 2007 5:14pm Nov 14, 2007 5:14pm
Quoting AidanPryde
Yeah i can see it now...everything okay !

Also i wanna ask if it is okay when i throw in some geppy charts from time to time or if u want to hold this thread as clean as possible..if u want it clean i will delete my other attachments from before..

KindRegards,
Aidan
I am glad you can see it now. Yeah, for sure post those Geppy charts anytime you like. I am going to cover it again once we get a grip on the Cable. I am happy to see this strategy is working for you. I have been working up charts with the Geppy and I can say I could have made more pips with it than the Cable providing I followed the same rules.

PT
Zone Breakout Method
  • #262
  • Nov 15, 2007 3:24am Nov 15, 2007 3:24am
Quoting PowerTrader
I will only draw a new zone when the other is broken, otherwise I will extend it. I do start a new zone, usually after 18:00 GMT or whenever things slow down and price starts to consolidate. Here is an example. I have already started the new one.

PT
God bless you PT twice first for base river system and second for the Zone. I done 50pips short right now (i'll post screens when my internet connection goes better).

One more information: Since when the the price breaks the zone i wait for the first candle out of it to start my trade. Do you wait its formation out of the zone too?


EDIT: i'm working on G/J 15min TF
  • #263
  • Nov 15, 2007 3:29am Nov 15, 2007 3:29am
this is my last short trade, waiting for the first candle outside the Zone.
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  • #264
  • Nov 15, 2007 3:34am Nov 15, 2007 3:34am
Quoting darko80
this is my last short trade, waiting for the first candle outside the Zone.

Great Trade,

PT
Zone Breakout Method
  • #265
  • Nov 15, 2007 3:37am Nov 15, 2007 3:37am
Took a short and the news went my way for once. I am up and I will hold until it backs up. I have 20 pips locked in profit.
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Zone Breakout Method
  • #266
  • Nov 15, 2007 3:39am Nov 15, 2007 3:39am
Quoting darko80
God bless you PT twice first for base river system and second for the Zone. I done 50pips short right now (i'll post screens when my internet connection goes better).

One more information: Since when the the price breaks the zone i wait for the first candle out of it to start my trade. Do you wait its formation out of the zone too?


EDIT: i'm working on G/J 15min TF
I think it is a good idea to wait for the candle to open. I don't always follow that way. Sometimes I will go ahead and jump in if we break a fib level.

PT
Zone Breakout Method
  • #267
  • Nov 15, 2007 4:36am Nov 15, 2007 4:36am
I start the new possible Zone for a price reversal.

G/J on 15min TF
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  • #268
  • Edited 12:03pm Nov 15, 2007 10:59am | Edited 12:03pm
Hi ! Just wanted to post my PaperTrade today on cad/jpy ..manual/visual backtests show me this pair also works fine with the River15mins!

Please pay attention that i use the Fibos another way :
I draw the Fib from the last significant High to the Low,but @ the Low i always draw the 23.6 lvl...only to make sure everybody understands..the FIB was drawn BEFORE Price left the Zone...StopLoss @ Pivot Point in this case

The targets are Normal Pivot Sup/Res...

I "would have" moved the SL to BE on the break of the 23.6 Fib (or took whole Profit there depending on Price Action as there was minor support)

I hope i can soon have enough time to provide real "demotrades" and maybe i will get a little micro account for showing live trades..

As usual feel free to correct me

Kind regards,
Aidan
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  • #269
  • Nov 15, 2007 11:27am Nov 15, 2007 11:27am
Quoting AidanPryde
Hi ! Just wanted to post my PaperTrade today on cad/jpy ..manual/visual backtests show me this pair also works fine with the River15mins!

Please pay attention that i use the Fibos another way :
I draw the Fib from the last significant High to the Low,but @ the Low i always draw the 23.6 lvl...only to make sure everybody understands..the FIB was drawn BEFORE Price left the Zone...

The targets are Normal Pivot Sup/Res...

I "would have" moved the SL to BE on the break of the 23.6 Fib (or took whole Profit there depending on Price Action as there was minor support)

I hope i can soon have enough time to provide real "demotrades" and maybe i will get a little micro account for showing live trades..

As usual feel free to correct me

Kind regards,
Aidan
I think a micro account would be a great next step. You are doing very well in demo and you should go live when you feel comfortable. Great move today.

PT
Zone Breakout Method
  • #270
  • Nov 15, 2007 12:08pm Nov 15, 2007 12:08pm
I took the one short at news time at around 4:30 am and took exactly 50 pips (see entry on previous post). I should have taken the reversal back to the 38.2 but I am not comfortable with price action today and I will wait for the next breakout to trade again.

PT
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Zone Breakout Method
  • #271
  • Nov 15, 2007 12:08pm Nov 15, 2007 12:08pm
Thanks for your encouragement...hehe i allready paid about 5K€ for my "education" ..losses are the best teacher lol

But as i said the River15 and River240 are my most favourite besides my own creation...! I allready posted a bit a few month ago @ PTFX Forum but had no time to really update often..soon i will have much more free time and then i will bombard those threads here and there !

I just checked a few things and maybe i can gt an account ready sometime next week...!

I look forward to your future teachings !

Thx alot PT !!!
  • #272
  • Nov 15, 2007 12:25pm Nov 15, 2007 12:25pm
I just donīt understand one thing..u entered ur short allready BEFORE price crossed the River...

see my example how i would have taken it..

OF COURSE IN HINDSIGHT I ALWAYS TRADE PERFECTLY

so my exampe is in HINDSIGHT ..not like my cad/jpy trade..



EDIT: Just btw ..GBP/USD crossed the River240..i took a short there...can i post them too? 240Entrys are rare but thats ur thread PT
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  • #273
  • Nov 15, 2007 12:34pm Nov 15, 2007 12:34pm
Hi PowerTrader and all

this is a nice thread

good luck
  • #274
  • Nov 15, 2007 12:37pm Nov 15, 2007 12:37pm
Quoting AidanPryde
I just donīt understand one thing..u entered ur short allready BEFORE price crossed the River...

see my example how i would have taken it..

OF COURSE IN HINDSIGHT I ALWAYS TRADE PERFECTLY

so my exampe is in HINDSIGHT ..not like my cad/jpy trade..
You are exactly right. If you look back at my posts you will see there are many times I enter early. This comes with time and I have been developing this method and trading it for a long time. But, I do not advise getting an early start until you understand the method. Remember, not all trades are those breaking the zone, sometimes you have a reversal from the high or low of the day. I enter then with the understanding we should retrace to the nearest fib level. I always keep a very tight SL on these trades. Good observation.

PT
Zone Breakout Method
  • #275
  • Nov 15, 2007 12:51pm Nov 15, 2007 12:51pm
Quoting AidanPryde
EDIT: Just btw ..GBP/USD crossed the River240..i took a short there...can i post them too? 240Entrys are rare but thats ur thread PT
Thx for your explanation !
  • #276
  • Nov 15, 2007 12:53pm Nov 15, 2007 12:53pm
Quoting forex3e
Hi PowerTrader and all

this is a nice thread

good luck
Thank you,
PT
Zone Breakout Method
  • #277
  • Nov 15, 2007 1:36pm Nov 15, 2007 1:36pm
I am setting up the Zone for the next day. We have made two trips back to the 38.2 of todays move and we could possibly see another. If this Zone holds for the day, it will be a great move when we break it.

PT
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Zone Breakout Method
  • #278
  • Nov 15, 2007 1:39pm Nov 15, 2007 1:39pm
PT please check the Quote Post#275.

thx
  • #279
  • Nov 15, 2007 1:41pm Nov 15, 2007 1:41pm
Quoting AidanPryde
PT please check the Quote Post#275.

thx
Yeah, it is okay. Let's not post a lot of them, but they would be good for discussion.

Thanks,
PT
Zone Breakout Method
  • #280
  • Edited 2:46pm Nov 15, 2007 2:30pm | Edited 2:46pm
Quoting PowerTrader
Yeah, it is okay. Let's not post a lot of them, but they would be good for discussion.

Thanks,
PT
Ya wish is my command ! so i concentrate on g/u and g/j..so there will be about 2 post a month about that ...

so now u expect a nice move with cable if it breaks the actual zone to the upside or downside right..

After getting that river240signal now and interpreting fundis (especially the now really rolling credit crunch) i expect much more probability to the downside the next days...

Also the weekly channel still offers some more downside before significant Support plays a role..(a weekly Pinbar there too)..next medium support 2.0300 inmyview

Thank you very much PowerTrader for allowing me to post this stuff..it really helps me to focus and improve..I am still only 1 Year @ the markets (24/7 if possible )..so for everyone consider my OPPINION/RESEARCH as an schoolars one..
PT is the Threadstarter and Teacher!

now my River240 chart

I Entered a 1% of capital short at the actual Candle which is the first red candle below the River which will close soon.
In Retrospect i think i should have waited for an retracement to the 38.2 like PT is telling us in Post #277..
Could give an better entry
But my Stop is above so i can wait it out.
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