I'd be hesitant about opening G/U positions until London had opened on a Monday. No liquidity.
Ignored
Me too...the price is ranging within the blue/red MAs...plus BB is still tight...I had a trade like this before...instead of making a breakout...the price keep on ranging for several hours which toasted my trade for that day...
I see divergences in MACD, Stoch, Lag. But the price has been in a trading range for neaely five hours and BB is still tightening. In such situation, you can enter in either of the two ways (IMHO):
1. You can enter when the price is near upper BB and keep a tight SL. That is highly aggressive/risky entry. Because we are not following the price, instead jumping in early with a prediction, which needs lot more knowledge and analysis.
2. You can wait for the price to make a move. Also, you can follow the red lag in such consolidation times and enter when the red Lag crosses the Level (0.85 here). The entry price will not be as good as the above method (and the SL have to be higher too). But overall that will make a better/safer strategy in the long run and simpler too.
Regards,
chandra
PS: It looks to me that you entered even before any bar closed with Stoch-Histo in red. You have to wait for the bar to close.
Ignored
Thanks for the advice.. really apreciate it.... still much to learn. the result is LOSS...really I don't like the trade anyway... too flat... too tight
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Joined Jan 2008
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Status: i love my pippy bank growing
|42 Posts
Hi all,
I have a wonderful time reading through this treads.As i am learning this new technique, i would like to share with everyone here. Feedback would be graeatly appreciate.
short 213.10
1)all signal was present
2)bb and daily become resistance from previous few candles
3)15min TF give a short signal below resistance 60ema
Still a gain now might close halfl profit once it reach today low and let the rest run with BE.
PS : I dont like this trade as BB is narrow and trading just start with low voliatly
This is my first post in this forum and FXFactory.
I friend mentioned this thread and I immediately became very interested. I read the 400 pages which is by itself a way to test anybody’s motivation.
As of today, I am still paper trading and I must say I had mixed experience so far. I will continue my testing so more posts/questions are underway to refine my understanding of the system.
Many thanks to Imran, Chandra, FX_Ninja and all the other great contributors.
Honesty and humbleness from the member of this tread is simply amazing.
While reading this thread I “collected” the posts I considered important as I like to be able to easily find relevant information. I decided to post it here as it may be useful for new starter.
Comments are of course very welcome.
Good trading to all,
Dids
This is my first post in this forum and FXFactory.
I friend mentioned this thread and I immediately became very interested. I read the 400 pages which is by itself a way to test anybody’s motivation.
As of today, I am still paper trading and I must say I had mixed experience so far. I will continue my testing so more posts/questions are underway to refine my understanding of the system.
Many thanks to Imran, Chandra, FX_Ninja and all the other great contributors.
Honesty and humbleness from the member of this tread is simply amazing.
While reading this thread I “collected” the posts I considered important as I like to be able to easily find relevant information. I decided to post it here as it may be useful for new starter.
Comments are of course very welcome.
Good trading to all,
Dids
Just Now, I took Long position at the verical Red line.
Will it be a good trade or just a bad counter trade??
Ignored
I think it is still too early for a counter trade on such a sharp powerful move. Even though there is a failed down move, it is better to wait. There can be good up move; but that will not follow the method, will fail often in the long run and cost more.
I have a wonderful time reading through this treads.As i am learning this new technique, i would like to share with everyone here. Feedback would be graeatly appreciate.
short 213.10
1)all signal was present
2)bb and daily become resistance from previous few candles
3)15min TF give a short signal below resistance 60ema
Still a gain now might close halfl profit once it reach today low and let the rest run with BE.
PS : I dont like this trade as BB is narrow and trading just start with low voliatly
Kosh
Ignored
That is a choppy price action. But still seems to be on profit. I support that take half profit and let the rest go wherever they want (with stop at BE).
But it has well defined places for Stops. The first stop should have been just above prior price level (above daily pivot), then slowly it follows other failed highs (which seem to stay slightly below the 200-MA).
Narrow BBs have the best chance. So, you should look for them. They show a Consolidation Breakout waiting to happen for a good move. Just wait for signals, after a tight BB. Some trendlines will also help.
Hi All,
In Imran's document version 1.2 two kinds of setups exist.
For Long : What you need to do is first look if the the LaGuerre 1 ( henceforth called as Lag1 ) is at or above 0.45 and
going upwards , StochHistogram ( Henceforth called as Stoch) is gone from negative to positive and climbing and
LaGuerre 2 ( Henceforth called as Lag2) is at 0.45 or above and trending up .
For Shorts : What you need to do is look if the LaGuerre 1 ( henceforth called as Lag1 ) is at or below 0.45 and going
downards , StochHistogram ( Henceforth called as Stoch) is gone from positive to negative and climbing down and
LaGuerre 2 ( Henceforth called as Lag2) is at 0.45 or below and trending down .
Should the lags' value for the later (short entry) not be .65 instead of .45?
I know TA is not an exact science and .45 and .65 are not such a big difference but I just wanted to check that with you.
Has anybody some % of winning trades using this second entry method ? What is the win/loss ratio and is it better than the first method?
I think it is still too early for a counter trade on such a sharp powerful move. Even though there is a failed down move, it is better to wait. There can be good up move; but that will not follow the method, will fail often in the long run and cost more.
chandra
Ignored
Chandra, thanks for comments.
After went through a channel, look like it was a counter trade. I got +44 pips while the 35 points trailing stop was hit. Could be better if I took my TP close to the strongest resistant 200 EMA to anticipate any PB for the counter trade (as Imran & many senior members often mention in this thread). Now, I took Short at 211.65 (the next vertical red line). Is it a good entry due to following the trend??? So far has +18 pips, but.....anything can happend in this market.
Hi All,
In Imran's document version 1.2 two kinds of setups exist.
For Long : What you need to do is first look if the the LaGuerre 1 ( henceforth called as Lag1 ) is at or above 0.45 and going upwards , StochHistogram ( Henceforth called as Stoch) is gone from negative to positive and climbing and LaGuerre 2 ( Henceforth called as Lag2) is at 0.45 or above and trending up .
For Shorts : What you need to do is look if the LaGuerre 1 ( henceforth called as Lag1 ) is at or below 0.45 and going downards , StochHistogram ( Henceforth called as Stoch) is gone from positive to negative and climbing down and LaGuerre 2 ( Henceforth called as Lag2) is at 0.45 or below and trending down .
Should the lags' value for the later (short entry) not be .65 instead of .45?
I know TA is not an exact science and .45 and .65 are not such a big difference but I just wanted to check that with you.
Has anybody some % of winning trades using this second entry method ? What is the win/loss ratio and is it better than the first method?
Cheers,
Dids
Ignored
Dids, correct me if I'm wrong.
0.45 is the mid level for Laguerre indicator (0.15, 0.45 & 0.85)
0.65 is gamma setting for lag 1.
Don't mix them......
Chandra, thanks for comments.
After went through a channel, look like it was a counter trade. I got +44 pips while the 35 points trailing stop was hit. Could be better if I took my TP close to the strongest resistant 200 EMA to anticipate any PB for the counter trade (as Imran & many senior members often mention in this thread). Now, I took Short at 211.65 (the next vertical red line). Is it a good entry due to following the trend??? So far has +18 pips, but.....anything can happend in this market.
hai.
Ignored
Hi Hai,
I think this is a conflicting situation with no clear direction. The major move and 200-EMA are pointing down. While the recent move and 60-EMA are pointing up. The price is between 60,200-EMAs while the EMAs are closing in each other. At best it can be considered as sideways action. Some scalping may be done using quick oscillators (including Lag1). For me, that is a time to wait.
Simple Method of Scalping any pair on 5 min chart , specially GBP/JPY - by Imran Sait
