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

  • #2,201
  • Oct 22, 2008 9:20pm Oct 22, 2008 9:20pm
Quoting fx1618.com

Yeah...
  • #2,202
  • Oct 22, 2008 9:21pm Oct 22, 2008 9:21pm
Quoting belekas
Sure looks like a continuation diamond as main diagonal is pointing upwards, but price is climbing back inside the formation. Was it a fake breakout or even not a diamond pattern?
Too early to come to a definitive conclusion.
  • #2,203
  • Oct 22, 2008 9:23pm Oct 22, 2008 9:23pm
Quoting Forex007
Hi Igrok,

Thank you for an interesting thread (I am going through your book now too ).

Do you mainly trade higher TFs (D1, W1), or during times as volatile as we have now you also do some intra-day trades? Considering that FX should be fractal, I guess the same principles would apply to any TF?..

Do you base your trades primarily on patterns or do you use use Price Action too (e.g. for timing entries)?

MANY THANKS in advance!
I trade on all time frames. Never enter a position on timing only as I always must know where to place stops in advance and this must be a certain technical level alos within my money management acceptance range.
  • #2,204
  • Oct 23, 2008 7:41am Oct 23, 2008 7:41am
Looks like USD doesnt want to give up so easily
  • #2,205
  • Oct 23, 2008 7:40pm Oct 23, 2008 7:40pm
both have a broadening triangle part and 1-2-3-4-5 waves inside them at some point, but i can see no further.

any thoughts?

also Igrok, you don't discuss Wolfe in your book. any reason, or just overlooked?


THKs,
Liviu
Once A Trader Always A Trader.
  • #2,206
  • Oct 24, 2008 1:06am Oct 24, 2008 1:06am
Quoting Liviu
both have a broadening triangle part and 1-2-3-4-5 waves inside them at some point, but i can see no further.

any thoughts?

also Igrok, you don't discuss Wolfe in your book. any reason, or just overlooked?


THKs,
Liviu
In case I wanted to cover everything that I know about trading I would have never had enough time for trading itself. Would still be sitting writing some sort of an encyclopedia for years.
  • #2,207
  • Oct 24, 2008 1:08am Oct 24, 2008 1:08am
AUD/USD has finally reached the obvious target and covered that gap at 1.6427. Likely to make some decent extension but I'm out of that short now having neither further reasonable targets no stops levels in mind.
  • #2,208
  • Oct 24, 2008 1:13am Oct 24, 2008 1:13am
For AUD/JPY 58.67 is a must for now.
  • #2,209
  • Oct 24, 2008 1:16am Oct 24, 2008 1:16am
Another comb on cable 4h but unfortunately I missed this one;
Attached Image (click to enlarge)
Click to Enlarge Name: comb.jpg Size: 70 KB
Measure twice, cut once
  • #2,210
  • Oct 24, 2008 1:21am Oct 24, 2008 1:21am
Quoting aediaz1
Another comb on cable 4h but unfortunately I missed this one;
Next reasonable Cable target is located at around 1.5150. Also seems that the buck might top out only after the DOW reaches its "must reach" target at below 6971. But for the moment the dollar and JPY crosses are clearly oversold. Some retracement might be expected.
  • #2,211
  • Oct 24, 2008 1:26am Oct 24, 2008 1:26am
Quoting Igrok
Next reasonable Cable target is located at around 1.5150. Also seems that the buck might top out only after the DOW reaches its \"must reach\" target at below 6971. But for the moment the dollar and JPY crosses are clearly oversold. Some retracement might be expected.
I have a TL around this area on weekly, what do you look at ?
Measure twice, cut once
  • #2,212
  • Oct 24, 2008 1:30am Oct 24, 2008 1:30am
Quoting aediaz1
I have a TL around this area on weekly, what do you look at ?
Yeah. That's the one. Unlikely to hold for long though. 1.33 zone looks more solid as a support and a longer-term target.
  • #2,213
  • Oct 24, 2008 1:36am Oct 24, 2008 1:36am
Quoting Igrok
Yeah. That's the one. Unlikely to hold for long though. 1.33 zone looks more solid as a support and a longer-term target.
I don't see what you mean here, if you got time to chat right now. I would assume that 1.3600 would be next long-term area unless I'm missing something obvious ?
Attached Image (click to enlarge)
Click to Enlarge Name: monthly.jpg Size: 102 KB
Measure twice, cut once
  • #2,214
  • Oct 24, 2008 1:40am Oct 24, 2008 1:40am
Quoting aediaz1
I don't see what you mean here, if you got time to chat right now. I would assume that 1.3600 would be next long-term area unless I'm missing something obvious ?
TL between the lows of 1993 and 2001. If broken then the parity comes into play.
  • #2,215
  • Oct 24, 2008 1:43am Oct 24, 2008 1:43am
Quoting Igrok
TL between the lows of 1993 and 2001. If broken then the parity comes into play.
Understood.
Measure twice, cut once
  • #2,216
  • Oct 24, 2008 1:55am Oct 24, 2008 1:55am
Back in the days when you had 10 employees, how did you organize (in short words) your trading-floor ? I.e was your staffs job to do research (only) where you made every trade or did someone have own trading-accounts trading different types of your strategies ?
Measure twice, cut once
  • #2,217
  • Oct 24, 2008 2:08am Oct 24, 2008 2:08am
Quoting aediaz1
Back in the days when you had 10 employees, how did you organize (in short words) your trading-floor ? I.e was your staffs job to do research (only) where you made every trade or did someone have own trading-accounts trading different types of your strategies ?
I have always been the only decision-maker. They could only execute trades based on the plan initially approved by me. Sure, they could suggest something for my consideration and further discussion, as well as to criticize my own ideas and suggestions. But I have never had more than three traders-assistants at a time. The others were responsible for some stuff unrelated to actual trading process. I like this way of organization because all the responsibility for the final result is solely mine, and my people don't hesitate to offer some crazy ideas as they are never under excessive stress and pressure.
  • #2,218
  • Oct 24, 2008 2:11am Oct 24, 2008 2:11am
Did you find it was helpful having other people suggest their ideas, or was it counter-productive?
  • #2,219
  • Oct 24, 2008 2:11am Oct 24, 2008 2:11am
Quoting Igrok
I have always been the only decision-maker. They could only execute trades based on the plan initially approved by me. Sure, they could suggest something for my consideration and further discussion, as well as to criticize my own ideas and suggestions. But I have never had more than three traders-assistants. I like this way of organization because all the responsibility for the final result is mine, and my people don't hesitate to offer some crazy ideas as they are not under excessive stress and pressure.
I see.

Quoting Igrok
The others were responsible for some stuff unrelated to actual trading process.
"More coffee, sir ?"

Was this people you had trained yourself ?
Measure twice, cut once
  • #2,220
  • Edited 2:34am Oct 24, 2008 2:23am | Edited 2:34am
Quoting Blackinc
Did you find it was helpful having other people suggest their ideas, or was it counter-productive?
They all become counter-productive over the years cause people develop their own views, trading style, preferences and professional ambitions. It becomes much harder to find common ground over the years and almost impossible eventually. All of them I hand-picked myself and trained from scratch but most of them work independently now. One more important thing: all of them had become wealthy and financially independent even before they came to assist and to work with me. No gamblers are allowed in the herd. Also must not have any formal financial education or background.
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