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

  • #1,641
  • Sep 12, 2008 5:26am Sep 12, 2008 5:26am
Quoting Igrok
You take it as "whatever has a chart can be traded".
Yes, it can, but not necessarily with success.
  • #1,642
  • Sep 12, 2008 5:45am Sep 12, 2008 5:45am
Quoting fxterrapin
Yes, it can, but not necessarily with success.
Success always depends on an individual.
  • #1,643
  • Sep 12, 2008 6:02am Sep 12, 2008 6:02am
I managed to make a quick and nice profit from this diamond-trade I made yesterday. Nevertheless I'm not sure this was any perfect diamond. It might look tradeable (in my terms) on this chart, but with closing-price it looked too messy, TBH.

Does it share similarity with template 19.12 ? Right-side sequence seems like a triangle, no ?
Attached Image (click to enlarge)
Click to Enlarge Name: diamonds2.jpg Size: 137 KB
Measure twice, cut once
  • #1,644
  • Sep 12, 2008 6:03am Sep 12, 2008 6:03am
Quoting Igrok
Success always depends on an individual.
And on the chart, according to you.
  • #1,645
  • Sep 12, 2008 6:33am Sep 12, 2008 6:33am
Quoting aediaz1
I managed to make a quick and nice profit from this diamond-trade I made yesterday. Nevertheless I'm not sure this was any perfect diamond. It might look tradeable (in my terms) on this chart, but with closing-price it looked too messy, TBH.

Does it share similarity with template 19.12 ? Right-side sequence seems like a triangle, no ?

Looks legit to me. As well as the template.
  • #1,646
  • Sep 12, 2008 6:49am Sep 12, 2008 6:49am
Quoting Igrok
Looks legit to me. As well as the template.
I must say diamonds have been some of the most fascinating patterns I've seen, after some studying and backtesting. I knew it would be worthwhile learning them.

Q; Did you go through any a-ha moments during your research or was certain "discovery's" a slow and steady progress raising your level of confidence ?
Measure twice, cut once
  • #1,647
  • Sep 12, 2008 6:58am Sep 12, 2008 6:58am
Quoting aediaz1
I must say diamonds have been some of the most fascinating patterns I've seen, after some studying and backtesting. I knew it would be worthwhile learning them.

Q; Did you go through any a-ha moments during your research or was certain "discovery's" a slow and steady progress raising your level of confidence ?
I proclaimed "eurekas" almost on daily basis. Still do but not so often.
  • #1,648
  • Sep 12, 2008 7:01am Sep 12, 2008 7:01am
Quoting Igrok
I proclaimed "eurekas" almost on daily basis. Still do but not so often.
I would second that
Measure twice, cut once
  • #1,649
  • Sep 12, 2008 9:50am Sep 12, 2008 9:50am
Quoting Igrok
I have even a better picture. And a question along with it: Where would you place your stops for a position taken ahead of the red trendline?
Mr Toshchakov,

Tricky question.

The attached chart answers your question.

It would be a SL hit frenzy, and easy cash for someone else other than me.

But most probably with a 15-20 pip difference belowthe TL.

How would you handle it?

Cheers,

JP.
Attached Image
  • #1,650
  • Sep 12, 2008 1:37pm Sep 12, 2008 1:37pm
You're not a member of the freemasonry lol ?

I don't support any religion, but if TA was a religion, I would've join it and proudly call me a believer.
Look at this diamond, which have been posted before in this thread. It so symmetric as is it almost can be. And this is a FX chart !

I'm not looking for any explanation, but pretty damn strange witnessing this geometrical pattern in any financial market, or is it just me ?
Attached Image (click to enlarge)
Click to Enlarge Name: god.jpg Size: 137 KB
Attached Image
Measure twice, cut once
  • #1,651
  • Sep 12, 2008 1:41pm Sep 12, 2008 1:41pm
Quoting jupiter_peak
Mr Toshchakov,

Tricky question.

The attached chart answers your question.

It would be a SL hit frenzy, and easy cash for someone else other than me.

But most probably with a 15-20 pip difference belowthe TL.

How would you handle it?

Cheers,

JP.
So, the market came down 500 pips along the descending line without ever breaking it and you would always keep your stops 15 pips below this support? Don't think it's a good idea. This is why I never base my trades on descending supports and ascending resistances.
  • #1,652
  • Sep 12, 2008 1:43pm Sep 12, 2008 1:43pm
Quoting aediaz1
You're not a member of the freemasonry lol ?

I don't support any religion, but if TA was a religion, I would've join it and proudly call me a believer.
Look at this diamond, which have been posted before in this thread. It so symmetric as is it almost can be. And this is a FX chart !

I'm not looking for any explanation, but pretty damn strange witnessing this geometrical pattern in any financial market, or is it just me ?
It was obvious. I posted that picture a million years ago. Any market move makes one or another technical sense. You just have to learn how to read it. Pretty much like a text: after learning the alphabet - you can read and understand the information contained in it.
  • #1,653
  • Sep 12, 2008 1:49pm Sep 12, 2008 1:49pm
Quoting Igrok
It was obvious. I posted that picture a million years ago. Any market move makes one or another technical sense. You just have to learn how to notice it.
I know. Well, you can guess what I've been trying to do this last years, especially this last few months . And the market have thrown some nice biscuits lately.
Measure twice, cut once
  • #1,654
  • Sep 12, 2008 1:50pm Sep 12, 2008 1:50pm
Quoting aediaz1
And the market have thrown some nice biscuits lately.
It's always like that.
  • #1,655
  • Sep 12, 2008 1:55pm Sep 12, 2008 1:55pm
Quoting Igrok
It's always like that.
I start to believe in that. I had no idea.

That last sentence was an easy victim for a sarcastic respond
Measure twice, cut once
  • #1,656
  • Sep 12, 2008 2:00pm Sep 12, 2008 2:00pm
Quoting aediaz1
I start to believe in that.

I had no idea.

That last sentence was an easy victim for a sarcastic respond
I know.
I know.
I know.
  • #1,657
  • Edited 4:37pm Sep 12, 2008 4:24pm | Edited 4:37pm
Quoting Igrok
So, the market came down 500 pips along the descending line without ever breaking it and you would always keep your stops 15 pips below this support? Don't think it's a good idea. This is why I never base my trades on descending supports and ascending resistances.
Like I said, it would be a sl frenzy giving my money away to someone else.

Yes indeed. Straight from your book. No countertrend moves.

Cristal clear! Roger that!

Trades in an imaginary channel from that TL would only be shorts from the resistance TL. Never from the support.

Awesome LIVE example.

Thanks for another great reminder!

Someday ill learn the whole alphabet.

Not busting your balls, but we all seem to have a great professor.

All I can offer right now are my deepest apologies for some stupid questions and my thanx for your patience.


I have less than an year in this business.

And i pretend to stay for a while more... If the market doesn't mind of course. And if you don't mind as well.

Best from Rio,

JP.
  • #1,658
  • Edited 7:21pm Sep 12, 2008 5:16pm | Edited 7:21pm
Quoting Igrok
So, the market came down 500 pips along the descending line without ever breaking it and you would always keep your stops 15 pips below this support? Don't think it's a good idea. This is why I never base my trades on descending supports and ascending resistances.
Giving it a second thought,

A broadening triangle is indeed very scary to trade!!

An ascending resistance and a descending support!!!

I tried to illustrate what you mean for those unable to visualize.

Once again geometry playing its role. SL "lines" can only be horizontal.... So the trendline has to be in such an angle which it doesn't intersect with the SL "line"... On the other hand, the triangle, for example, gives us a good angle for SL placement.

Quite obvious, but we, mere mortals, insist on not regarding the geometrical facts.

Oh, and by the way, the red lines are the proposed SL "line".

EUREKA!!

huuummm

So I must reach to the conclusion you wouldnt trade a broadening triangle? Also, not the first "half" of a diamond for example?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: SL_EXAMPLE_ON_BROAD_TRIANGLES_1.jpg Size: 72 KB
Click to Enlarge Name: TRIANGLE_SL_PLACEMENT.jpg Size: 30 KB
  • #1,659
  • Sep 12, 2008 9:09pm Sep 12, 2008 9:09pm
Based on the small broadening triangle, price has reached the low of 2004.

Are we aiming now for the low of 1993 ?

Do i make any sense ? Hahaha....
Attached Image (click to enlarge)
Click to Enlarge Name: GBP.JPG Size: 167 KB
Keep it simple and sweet !
  • #1,660
  • Sep 13, 2008 7:32am Sep 13, 2008 7:32am
Master Igrok,

at first hearing you saying that .96 is a must for euro, I couldn't stop thinking of it, and after combining my fib study on eur/usd I found this startling proof of you being right...

Best Regards
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 23 KB
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