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Igrok Method. Q's & A's. Comments, thoughts and ideas

  • #1,041
  • Apr 14, 2008 3:56am Apr 14, 2008 3:56am
Quoting SeekingLight
LOL. Well, I knew it. Now it becomes obvious how you can make more than explosive returns
(But I think you wrote about getting small stop entries before on the thread, now it's easier to understand the how)

I think I might become a diamond hunter on the side as well, that explanation / geometry example you gave above convinced me

Thanks for sharing the concept.
Unfortunately it's a very rare situation even with the diamonds. They all are different. This one happened to be exactly the type that could be analysed this way. Except for this one, I saw only a cople of other similar formations but on a much smaller scale that could be traded using this particular approach. Other types and shapes require different technical means.
  • #1,042
  • Apr 14, 2008 4:28am Apr 14, 2008 4:28am
Quoting Igrok
It's kind of strange and pitiful. At first, like about 10-12 years back, I was getting much surprised every time when people couldn't see what I was considering obvious, but instead were seeing something that I could't make any sense of. Then I got used to it over time.
Well, I guess experience change your way to see things

Btw, I have your book now and looking forward to read it.

Quoting Seekinglight:

LOL. Well, I knew it. Now it becomes obvious how you can make more than explosive returns
(But I think you wrote about getting small stop entries before on the thread, now it's easier to understand the how)

I think I might become a diamond hunter on the side as well, that explanation / geometry example you gave above convinced me

Thanks for sharing the concept.


I had a feeling there was something interesting about diamonds. Let's hope Igrok got time to share some diamonds along the road as he said all diamonds can be different.
Measure twice, cut once
  • #1,043
  • Apr 14, 2008 4:33am Apr 14, 2008 4:33am
Quoting Igrok
10 pips.
What R/R did you have on this trade ?
Measure twice, cut once
  • #1,044
  • Apr 14, 2008 4:50am Apr 14, 2008 4:50am
Quoting aediaz1
What R/R did you have on this trade ?
On that trade I took a bit over 1300 pips using trailing stops. R/R you can calculate yourself.

BTW the mid point of this particular diamond (red horizontal line) is very likely to be the "must reach" initial target on the way back, when current trend reverses.
  • #1,045
  • Apr 14, 2008 5:07pm Apr 14, 2008 5:07pm
Your chapter about H/S;

"This mistake often happens when a trader has an open position and is searching for additional confirmations of his point of view. Wishful thinking can play a malicious joke on a trader, and this actually happens rather frequently."
I got this dark, screaming picture in my head from when I started out, doing exactly what you describe here lol.

It's so strange to see how much adaption your mind most go through to even have a chance participating profitable in this market. Our mind is really "tweaked" completely opposite of what is the profitable state of mind.
Measure twice, cut once
  • #1,046
  • Apr 14, 2008 6:33pm Apr 14, 2008 6:33pm
Quoting aediaz1
Your chapter about H/S;

"This mistake often happens when a trader has an open position and is searching for additional confirmations of his point of view. Wishful thinking can play a malicious joke on a trader, and this actually happens rather frequently."

I got this dark, screaming picture in my head from when I started out, doing exactly what you describe here lol.

It's so strange to see how much adaption your mind most go through to even have a chance participating profitable in this market. Our mind is really "tweaked" completely opposite of what is the profitable state of mind.
Being emotionally disconnected, uninvolved and objective could be the toughest goals for a trader to achieve. Trading techniques can be learned, but without psychological comfort they might never work properly. Even I, with 15 years of actual trading experience, still fall into this trap from time to time.
  • #1,047
  • Apr 14, 2008 11:38pm Apr 14, 2008 11:38pm
USD/CAD Daily :
Attached Image (click to enlarge)
Click to Enlarge Name: Daily CAD A0-FX.jpg Size: 90 KB
  • #1,048
  • Apr 15, 2008 12:17am Apr 15, 2008 12:17am
hi igrok & friends,

is this the correct way to draw diamond pattern ?...

http://i279.photobucket.com/albums/k...chfdiamond.gif

thnx
  • #1,049
  • Apr 15, 2008 1:29am Apr 15, 2008 1:29am
Quoting CandlePower
hi igrok & friends,

is this the correct way to draw diamond pattern ?...

http://i279.photobucket.com/albums/k...chfdiamond.gif

thnx
Most likely.
  • #1,050
  • Apr 15, 2008 2:06am Apr 15, 2008 2:06am
thnx & i'll keep learning.
  • #1,051
  • Apr 15, 2008 2:51am Apr 15, 2008 2:51am
Hi Igrok, regarding the USD/CAD Daily diamond I would make the following personal analysis:

a) break should be to the upside (because of diagonal)
b) to be symmetrical with the lower left diamond-line "break-in" it should occur directly (now) in the middle of the upper right diamond-line and not bounce back to the lower-right diamond line again

Is this a way to think about the diamond-internal moves?
  • #1,052
  • Apr 15, 2008 3:20am Apr 15, 2008 3:20am
Quoting Igrok
USD/CAD Daily :
Can you expand on how you defined the left side to be a broadening triangle?

I can't see it myself, those lines don't seem to have real technical significance?
  • #1,053
  • Edited 6:43am Apr 15, 2008 6:26am | Edited 6:43am
That picture that I posted on USD/CAD is not a diamond. At least not a diamond yet. It's just a wild guess, which is too early to turn into a trading call because there is no way we can define in advance where the next bottom might be. There are at least 5 different levels where a projected low of the next diagonal might be formed and all of them would make some technical sense. This is an example of a formation that could be identified correctly and traded only when it gets fully formed and only when the actual break out occurs. Sorry for such a disappointment, but I like the discussion.
  • #1,054
  • Apr 15, 2008 6:50am Apr 15, 2008 6:50am
Quoting Blackinc
Can you expand on how you defined the left side to be a broadening triangle?

I can't see it myself, those lines don't seem to have real technical significance?
My guess about the potential outcome is mostly based on the fact that these two lines are exact parallels. In order to achieve more credibility this pattern has to keep forming symmetrical key points.
Attached Image (click to enlarge)
Click to Enlarge Name: Daily CAD A0-FX.jpg Size: 94 KB
  • #1,055
  • Apr 15, 2008 6:57am Apr 15, 2008 6:57am
Like those, for example, with another pair of parallels:
Attached Image (click to enlarge)
Click to Enlarge Name: Daily CAD A0-FX.jpg Size: 96 KB
  • #1,056
  • Apr 15, 2008 6:59am Apr 15, 2008 6:59am
Potential 20.5 or 19.10 on NZD dailies.
Attached Image (click to enlarge)
Click to Enlarge Name: nzd.gif Size: 15 KB
  • #1,057
  • Apr 15, 2008 7:04am Apr 15, 2008 7:04am
Or, perhaps, a pair of these:
Attached Image (click to enlarge)
Click to Enlarge Name: Daily CAD A0-FX.jpg Size: 100 KB
  • #1,058
  • Apr 15, 2008 7:09am Apr 15, 2008 7:09am
Quoting BentRod
Potential 20.5 or 19.10 on NZD dailies.
For NZD the biggest importance is that is has just changed the direction of the main move of the week.
  • #1,059
  • Apr 15, 2008 7:16am Apr 15, 2008 7:16am
Should the trade be overlooked since it is against the MMOTW or is it still a candidate?
  • #1,060
  • Apr 15, 2008 7:21am Apr 15, 2008 7:21am
Quoting BentRod
Should the trade be overlooked since it is against the MMOTW or is it still a candidate?
Always trading in the direction of the main move is the best strategy money can buy cause it's the least stressful one with the most obvious and reliable levels for stops placement. In case it also changes the direction of the main move of the month it is likely to be gone with the wind.
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