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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)

Hey Scooter,

There are 1 million ways to skin a cat and likewise there are just as many ways to enter and exit a trade.

In the example I am provding the red lines indicate the mroe aggressive or higher risk entry and stop areas.

The Yellow is the more conservative entry location but inherits a larger stop. But also notice this that we could place out initial stop closer at say the same place that we would put our stops for the higher risk entry.

The green line indicates where prices may stall before continuing or be rejected completely. Hence this is why I call it a Red Flag Zone.


I plopped some numbers on there so you can get an idea of how much potential risk and profit is on the table with different entry areas.

And as you said if prices blow on through and never look back well then I will have to wait for the next bus to come along. NEVER chase the market!

Hope this wa hepful.

TV


Quoting Scooter
Thanks TV...

So after the retrace you would enter after price breaks down through the yellow line expecting some resistance at the red flag area.....maybe take some profit or just continue to hold depending on what the larger time frames show?

If the price never retraces and shoots straight down then one should take the attitude of "...well that bus left but there will always be another one coming....and not chase it."

I hope I have it right or learning correctly...tired of being the turkey for feast in the slaughter zone. Sorry for the Thanksgiving Day pun but I just couldn't resist!

Scooter.
Attached Image (click to enlarge)
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Nothing is impossible, with a willing mind!
Damn I've been schooled again just kidding, I couldn't resist the pun.

I hope you and everyone here who is celebrating has a great and safe holiday. Catch you all later.

Cheers!


Quoting Old_Not_Dead
The bottom of the range you have drawn is correct. I pulled an old schoolteacher trick and exaggerated mine for the purpose of explaining the false breakout.

Enjoy the holiday TV and all !

O N D
Nothing is impossible, with a willing mind!
Four Kids,

I read your post #740 in which you described some entry points which I don't really get. In EN you say you entered at 1.9300 but the high on nov 16 was 1.9428 and a valid entry on daily charts would have been a break of 1,9428 but you entered at 1,93. Did you go down to 4 H charts and took the V formation there anticipating a break of the previous day high?

The same questions for your other entries?
seems like E/U is on a run to.1.50 like a chicken with a head cut off!!!

hard to get this pair!!!!!

Peace
Peace
Quoting feb2865
seems like E/U is on a run to.1.50 like a chicken with a head cut off!!!

hard to get this pair!!!!!

Peace
Dang.....I'm kicking myself for selling out at 1.4860. I thought there wouldn't be much action cause of the US and it was just hanging around at this level.
Still haven't found what I'm looking for...
yeah we just have to let it go I place many bets on that pair now I'll wait...

Peace
Peace
Feb...do you mean you are already in, you'll wait for a retrace, or just sit by and watch.

Thanks!
Still haven't found what I'm looking for...
Quoting Scooter
Feb...do you mean you are already in, you'll wait for a retrace, or just sit by and watch.

Thanks!
I am in since feb 2007

last bet was on Aug 23 2007

Peace
Peace
Quoting feb2865
I am in since feb 2007

last bet was on Aug 23 2007

Peace
Holy Pips!!!
Still haven't found what I'm looking for...
the method works You just need to deal with yourself - patience

Talking from experience

Peace
Peace
Quoting iandekoker
Yip excellent trade.

However i am not familiar with Jacko's anti hedging system and also too lazy to go look it up. Can u maybe give us a quick summary of his system.


Hey Ian

The anti-hedge is very simple and very effective.When you are in a trend, and you gedt stopped due to a temporary correction in that trend, what you do is you put a "buy-stop" order (if you were in a long trend)at the price where you were stopped, and wait for the retracement to end. When the market regains its trend it will trigger your order and continue in its direction. In that way you recover what you lost and continue on your way up.
Quoting alcastro
Hey Ian

The anti-hedge is very simple and very effective.When you are in a trend, and you gedt stopped due to a temporary correction in that trend, what you do is you put a "buy-stop" order (if you were in a long trend)at the price where you were stopped, and wait for the retracement to end. When the market regains its trend it will trigger your order and continue in its direction. In that way you recover what you lost and continue on your way up.
Ok thanks. It sounds like a good technique. And i am sure in principle it is almost like getting discount on the price.
Quoting Trader_V
Hey Scooter,

There are 1 million ways to skin a cat and likewise there are just as many ways to enter and exit a trade.

In the example I am provding the red lines indicate the mroe aggressive or higher risk entry and stop areas.

The Yellow is the more conservative entry location but inherits a larger stop. But also notice this that we could place out initial stop closer at say the same place that we would put our stops for the higher risk entry.

The green line indicates where prices may stall before continuing or be rejected completely. Hence this is why I call it a Red Flag Zone.




I plopped some numbers on there so you can get an idea of how much potential risk and profit is on the table with different entry areas.

And as you said if prices blow on through and never look back well then I will have to wait for the next bus to come along. NEVER chase the market!

Hope this wa hepful.

TV
Great job visualizing the chart. I like the idea how you cater for both risky and conservative traders
Quoting alcastro
Hey Ian

The anti-hedge is very simple and very effective.When you are in a trend, and you gedt stopped due to a temporary correction in that trend, what you do is you put a "buy-stop" order (if you were in a long trend)at the price where you were stopped, and wait for the retracement to end. When the market regains its trend it will trigger your order and continue in its direction. In that way you recover what you lost and continue on your way up.
Jacko only trades the E/U and what he does is the following:
When he is topeed out, he waits for the price to go at least 50 pips beyond his stop out point before he places the oder to get back in at his stop-out price. That way he feels that he has given the market sufficient space so that if it comes back to his stop-out price, then the odds are overwhelmingly that the trend really has resumed and that it is not just a blip.

For other currency pairs, jacko followers have speculated that the 50 pip value should be changed to approx 2/3rds of the ATR.

I hope that this helps.
ian
P.S. Jacko also uses a 50 pip trailing stop to end his trades. He very rarely closes them manually - only if he is very nervous and sees a big sharp reversal comming.
Hey guys.

Ok I have earned my bragging rights for today...lol Just kidding. Thee are days when ou are right about the market and many days when you are wrong about the market.

However, this pic combined with the post that is quoted here shows you why you should always trade with a plan.

Please note I only zoomed in to the 15M TF so you could see how price fits into the lines and boxes I drew.

Hope everyone had a great day yesterday! Now I gotta get off the PC for a while so my wife don't kill me...lol




Quoting Trader_V
Hey Scooter,

There are 1 million ways to skin a cat and likewise there are just as many ways to enter and exit a trade.

In the example I am provding the red lines indicate the mroe aggressive or higher risk entry and stop areas.

The Yellow is the more conservative entry location but inherits a larger stop. But also notice this that we could place out initial stop closer at say the same place that we would put our stops for the higher risk entry.

The green line indicates where prices may stall before continuing or be rejected completely. Hence this is why I call it a Red Flag Zone.


I plopped some numbers on there so you can get an idea of how much potential risk and profit is on the table with different entry areas.

And as you said if prices blow on through and never look back well then I will have to wait for the next bus to come along. NEVER chase the market!

Hope this wa hepful.

TV
Attached Image (click to enlarge)
Click to Enlarge Name: range break out 4.gif Size: 31 KB
Nothing is impossible, with a willing mind!
Feb,Ond,Tv, thank you for your priceless education.
Due to the increased volume of alcohol I played it only on demo. The S/L is about 15 miles away ( high of previous day on daily), but 112 pips is better than hangover and no pips. Thank you


Quoting Trader_V
Hey guys.

Ok I have earned my bragging rights for today...lol Just kidding. Thee are days when ou are right about the market and many days when you are wrong about the market.

However, this pic combined with the post that is quoted here shows you why you should always trade with a plan.

Please note I only zoomed in to the 15M TF so you could see how price fits into the lines and boxes I drew.

Hope everyone had a great day yesterday! Now I gotta get off the PC for a while so my wife don't kill me...lol
Attached Image
Trader V & Mr. Trend,

There's a nice pinbar formation on the USD/CHF daily. Will have to keep an eye on it Monday.

What would the James16 gang do?? wait for the "V" or get right on it?
trading naked.......
Seems this thread are getting prosperous.

Thank you Feb, TV, OND, ian, leigh, Mr. Trend, alcalstro and all other friends for your great contributions.

I think I should read all again from the first page.

Well, this is the summary. (Feb's and OND's method will become the same with TV's method if 4H is very big and its close is higher than previous 4h's highest).

1. Look daily chart for trading direction(weekly also, if necessary), i.e. long or short.
2. Wait patiently for retracement. Better not chase trend.
3. When retracement takes place, zoom in to look into 4H chart for a discount price (or good timing, more precisely IMO) .
4. Open your position, when 4H bar indicates the end of the retracement, i.e. there is a hammer, engulfing bar, V-form, the 4H bar has broken retracement trend line, etc. (Do your price action analysis)
5. As Feb said, patience plays an extremely important role. Ignore short time frame noise.

thank you.


(P.S. I followed Feb's method in e/u trading, entered and closed about 4~5 times, 4 successful. 1 stop loss. If I am patient and wiling to give market 150 ~200 pips for stop loss, my profits is more than 200 pips, there would be no stop loss at all, there would be no stupid close and open again with higher price. OND is correct, by this way, stop loss would not happen usually.)
Quoting piphitman
Trader V & Mr. Trend,

There's a nice pinbar formation on the USD/CHF daily. Will have to keep an eye on it Monday.

What would the James16 gang do?? wait for the "V" or get right on it?

Take a long at 10 pips above the pinbar's high is popular.

Of course, at 4 PM I noticed that EUR/CHF is doing the same thing. Personally, I like the Euro-Swissy more, as it is with the overall trend, and at a nice daily trend line.

* Please note that I drew the trend line off the weekly chart, therefore it is a little shifted on my daily chart - one of my gripes with MT4.


Clockwork
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Quoting clockwork71
Take a long at 10 pips above the pinbar's high is popular.

Of course, at 4 PM I noticed that EUR/CHF is doing the same thing. Personally, I like the Euro-Swissy more, as it is with the overall trend, and at a nice daily trend line.

* Please note that I drew the trend line off the weekly chart, therefore it is a little shifted on my daily chart - one of my gripes with MT4.


Clockwork
clockwork....

I went short on EUR/CHF @ 1.6323 as soon as it went below the previous days low....and then another sell order on the retrace at 1.6347. The Weekly "V" fractal is showing strong downward since 10/28, daily trend appears to be downward since 10/11. I took the 11/20 candle as start of "V", 11/21 candle is an inside bar, but 11/22 gives us a lower low, and the 11/23 candle I took as confirmation of an entry.

Did I analyze that correctly even though it appears the 11/23 candle is looking more like a pin bar now with a possible reversal?
trading naked.......
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