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PowerTrading/The River

  • #401
  • Nov 29, 2007 12:29am Nov 29, 2007 12:29am
As I moved further into profit, notice how I moved the SL with me. Also make note it is just behind the recently past fib area.
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Zone Breakout Method
  • #402
  • Nov 29, 2007 12:31am Nov 29, 2007 12:31am
Gaining more profit and getting very close my target. Noticed I pulled my TP out because it was running pretty fast.
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Zone Breakout Method
  • #403
  • Nov 29, 2007 12:36am Nov 29, 2007 12:36am
Here I am with a closed position and 70 pips in the bank. Obviously it ran for another 30 but I hit my target. I could have continued to move the SL forward and if I had slept any I probably would have.

I will take 70 pips on any one trade and now I am heading to sleep. The Zone Breakout works and you can follow my charts for proof.

PT
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Zone Breakout Method
  • #404
  • Nov 29, 2007 5:01am Nov 29, 2007 5:01am
Hi guys !

sorry was away for some family problems
well now i am back and see alot fo changes in this thread / system
anyway i will do the same what i do before give the trades which will give by this system and making some nice trades and earning some nice money with them hope u all like it and main POWERTRADER u r the best

here is the picture of my todays trading

Enter Short from 228.04 in the morning and targetting the next fibo 226.86 +118 pips in pocket


thanks
Netwise
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  • #405
  • Nov 29, 2007 10:06am Nov 29, 2007 10:06am
Welcome back Netwise!

Here is how i would have traded the geppy today! My entry would have been a bit later around 227.90 (where my alarm was set) and as usual i would have had 2 Profit Targets ! Both would have been hit !

Great to see somebody else trading the geppy !
(If u find somebody who can create an EA i would also be interested..but i guess it will be pretty hard as "the river" is surely not pure technical method as the human eye can create Zones easy ,and a computer cannot..and if u put them out ,u only have a 62SMA/Envelope Cross System..technically i would not like that system..but together with PA ,Zones,Fibs and common sense its really great imho..but those things are dependant on exp. and this u only get with SCREEN TIME )

BTW somebody catched the move from yesterday ? i only watched it and cursed myself because i said i stop trading that were some easy 400pips lol

EDIT: (the black Fibs are the upswing beginning with the low @ 11/23)
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  • #406
  • Nov 29, 2007 10:16am Nov 29, 2007 10:16am
Quoting moneyonmind
would a good price acton indicator be absolute strength histogram?
Price Action imho lies only in the CandleSticks and Bars! Check the James16Chart thread and read it through..it will help u alot on your journey !

Because in the end all indicators (no matter what complex formula) are derived from Price so for me Price is the only leading indicator..i know i still use indicators ,but they are more of a visual for me..i seldom rely on those!

And also i am still a noob
  • #407
  • Nov 29, 2007 10:19am Nov 29, 2007 10:19am
Quoting Naijafx
Hello Pt,

I hope you are getting better? We've missed your ever consistence presence in this thread and the other site.

we are still waiting for the PDF file explaining your strategy

thanks
I think i will compile a pdf (of course only with PT`s allowance). But for now let`s wait for all the stuff that PT will introduce in the complete PT method..in a few weeks (maybe month?) i think i will have a good sense of the method in the different timeframes used ,and so i will be able to create a complete PDF..but for now imho we are still at the basics..so lets learn and see

If u have any questions feel free to state them here and i will try to answer them for you..most stuff is @ post #1 also if u haven`t read it..
  • #408
  • Nov 29, 2007 10:27am Nov 29, 2007 10:27am
@ PT

I hope its okay with you that i try to answer some questions posted for you ?!
I was not sure if you did`nt notice them and/or are still fighting with your cold
  • #409
  • Nov 29, 2007 1:09pm Nov 29, 2007 1:09pm
Have a quick question about the river trade and stops. If you are in a trade and get a signal in the other direction before the stop is hit do you close the first trade? Also, could you please refer me to the post #s in which you explain how to draw and trade the "zone"? Also, the river will work on timeframes higher than 15min correct? I would think it works even better. Do you need to make any changes from the 15min?
  • #410
  • Nov 29, 2007 1:46pm Nov 29, 2007 1:46pm
Quoting marolam
Have a quick question about the river trade and stops. If you are in a trade and get a signal in the other direction before the stop is hit do you close the first trade? Also, could you please refer me to the post #s in which you explain how to draw and trade the "zone"? Also, the river will work on timeframes higher than 15min correct? I would think it works even better. Do you need to make any changes from the 15min?
It would be good to just read through the thread after we started talking about the Zone and the first page. I am posting a chart of where price is consolidating now and where I have started drawing the Zone. The box is now drawn between the low of the day (0 fib) and the 23.6 retrace. We continue to draw the Zone until price actions starts to gain momentum. In other words when you see the candles start getting bigger this is a sign. Always wait for confirmation if it happens early. If the candles continue to be small, simple expand the Zone if any of the break through. It is a combination of Fibonacci, Price Action and Time of Day that allows us to isolate price and thus create the Zone.

PT
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Zone Breakout Method
  • #411
  • Nov 29, 2007 2:06pm Nov 29, 2007 2:06pm
Ok, so fib is taken between the high and low of the day. Then the zone is drawn between the 0 and 26%?

Also, I know it may seem trivial but could you please help me with these other questions:

If you are in a trade and get a signal in the other direction before the stop is hit do you close the first trade?

The river will work well on timeframes higher than 15min correct?

Thanks.
  • #412
  • Nov 29, 2007 2:23pm Nov 29, 2007 2:23pm
Glad to see Rivers are still flowing. Good luck.
  • #413
  • Nov 29, 2007 3:04pm Nov 29, 2007 3:04pm
Quoting DownRiverTrader
Glad to see Rivers are still flowing. Good luck.

Thanks DownRiverTrader,

Our method is PowerTrading but the River was one of our trades using the 62 envelope. We still use the setup but trade a Zone Breakout and not the cross. Our method is based on Fibonacci, Price Action, Support and Resistance, Trend Lines, and Money Management. I am not sure if we resemble your method but thank you for the encouragement for our thread.

PT
Zone Breakout Method
  • #414
  • Nov 29, 2007 3:09pm Nov 29, 2007 3:09pm
Quoting marolam
Ok, so fib is taken between the high and low of the day. Then the zone is drawn between the 0 and 26%?

Also, I know it may seem trivial but could you please help me with these other questions:

If you are in a trade and get a signal in the other direction before the stop is hit do you close the first trade?

The river will work well on timeframes higher than 15min correct?

Thanks.
I use all the time frames to confirm what is happening in the 15 min. I like using the 15 because it breaks down the hour and we can get into a trade and may have missed it on the hour. As for Stop Loss, here is my method. If we break low from the Zone we have now, I would place a stop on the other side of the 23.6 providing it is no more than 40 pips. If we break low tonight I would probably wait for a candle to form on the other side because it is the low of yesterday and almost the low of the day before. But yes, if you break the wrong way, take the loss. Losses should be no more than 40 pips although you will use your own discretion as you become more familiar with this method.

PT
Zone Breakout Method
  • #415
  • Edited Nov 30, 2007 8:11am Nov 29, 2007 4:54pm | Edited Nov 30, 2007 8:11am
Quoting marolam
Ok, so fib is taken between the high and low of the day. Then the zone is drawn between the 0 and 26%?

Also, I know it may seem trivial but could you please help me with these other questions:

If you are in a trade and get a signal in the other direction before the stop is hit do you close the first trade?

The river will work well on timeframes higher than 15min correct?

Thanks.
Hi Marolam,
I will try to answer your questions too but i will use an geppy chart for this..

1. Yeah take the loss..i found that the stops which are hit ocassionally do not really hemper what u experience on volatile days..1 winner in my experience mostly weights up 2 loosers..on geppy sometimes the ratio is higher...

and since my problem still is to be patient and let all factors align i found beeing impatient leads to much more stops hit..
i learn to never try to get the whole move...if there is a big move with lots of potential its starring me in the eye and i move stops from fib to fib and/or use my target zones and if i am unsure i am absolutely greateful for 1/3 to 1/4 of the move. there are possiblities every new day

..learn to draw the zones also for the last days and give them different thickness to seperate between strong and weak sup/res...often when u zoom out or change the TF you get great target areas..then I take the mid of the last peak/valley consolidation as target and it is hit almost 75%..it`s kinda the same as James16 PPZ...if there is not an clear rangebound zigzag consolidation i use trendlines (yeah very discretionary method i know )..


2. I personally did not check the other TF`s with the river15 (of course they look good at a first view but no exp there) But i love the River240 method ! of course there is an other configuration for the Envelope ! Pt will get to this soon as he said a few posts ago ! But be slow and grow (but i will add a chart too for you as the basic technique is the same for example: Zones,Fibs on 4H, Daily..)

Okay i try to get some clearer view in the chart..


But here my actual geppy entry!

EDIT NEW:
I added an entry for River240 on Crude BUT this is just for an example..I personally would not short Crude at this time and only look for opportunities to buy cheap..but it should work as an example!
Will add more text later!
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  • #416
  • Nov 29, 2007 11:13pm Nov 29, 2007 11:13pm
Hey Aidan !

hows u bro hows ur wss going

well ya i just do tradeing with GJ using River
well also ya i catch that move from 226.12 area thats my fib i long it and target was 227.12 +100 pips that was reached by yesterday already heheh


today i got 2 trades i loss -44. then i re long gj and targetting now 228.15 so lets see

thanks for the welcome back


Netwise
  • #417
  • Nov 30, 2007 12:40am Nov 30, 2007 12:40am
Make sure you trade smart today. It is Friday and anything can happen on Friday. Get confirmation if we break long, I think I will not enter until we get past the 38.2 retrace of yesterdays move.

PT
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Zone Breakout Method
  • #418
  • Nov 30, 2007 12:48am Nov 30, 2007 12:48am
Here is a better look.
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Zone Breakout Method
  • #419
  • Nov 30, 2007 2:14am Nov 30, 2007 2:14am
Update on my Trades !
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  • #420
  • Nov 30, 2007 2:18am Nov 30, 2007 2:18am
Quoting netwise
Hey Aidan !

hows u bro hows ur wss going

well ya i just do tradeing with GJ using River
well also ya i catch that move from 226.12 area thats my fib i long it and target was 227.12 +100 pips that was reached by yesterday already heheh


today i got 2 trades i loss -44. then i re long gj and targetting now 228.15 so lets see

thanks for the welcome back


Netwise
I am fine thx ! Wss was also fine but doesnt suit my style..i`ve come along way since then

congratz on your trades and pips ! the winners will outweight the losses for sure! Congratz on your 228.15 target..should be hit by now ..i got some more !

Kind regards,
Aidan
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