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

  • #2,761
  • Jan 30, 2009 2:42am Jan 30, 2009 2:42am
Wonder if it would make sense to apply 18.4 as weekly template on eur/usd.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd18.4 weekly.jpg Size: 111 KB
Measure twice, cut once
  • #2,762
  • Jan 30, 2009 10:47am Jan 30, 2009 10:47am
Quoting aediaz1
Wonder if it would make sense to apply 18.4 as weekly template on eur/usd.
hi aediaz1,

Friday evening again - I was wondering why there were no posts this week.

Even though the 18 templates are meant for intraday (I think), the patterns are the same and since you posted this the EURUSD has dropped more so it seems to be working under 18.4.

Did you open a trade on the basis of 18.4?
  • #2,763
  • Feb 2, 2009 2:51am Feb 2, 2009 2:51am
Quoting HapaSasa
hi aediaz1,

Friday evening again - I was wondering why there were no posts this week.

Even though the 18 templates are meant for intraday (I think), the patterns are the same and since you posted this the EURUSD has dropped more so it seems to be working under 18.4.

Did you open a trade on the basis of 18.4?
Sorry for the confusion, but that wasn't any 18.4. Not sure how I got that conclusion.
Measure twice, cut once
  • #2,764
  • Feb 2, 2009 3:15pm Feb 2, 2009 3:15pm
Quoting aediaz1
Sorry for the confusion, but that wasn't any 18.4. Not sure how I got that conclusion.
Could todays price movement of the USDCHF be an 18.4a?

The price now is at 1.1620, which is about the same as the open price and up from the low of 1.1577, so time to open a sell trade.

The only thing is the midday spike to 1.1600 should not be in an 18.4, I suppose.
  • #2,765
  • Feb 2, 2009 4:18pm Feb 2, 2009 4:18pm
Quoting HapaSasa
Could todays price movement of the USDCHF be an 18.4a?

The price now is at 1.1620, which is about the same as the open price and up from the low of 1.1577, so time to open a sell trade.

The only thing is the midday spike to 1.1600 should not be in an 18.4, I suppose.
Remember that 18.4 should be in direction of the previous day or mid-term trend.
Measure twice, cut once
  • #2,766
  • Feb 2, 2009 8:21pm Feb 2, 2009 8:21pm
Quoting HapaSasa
Could todays price movement of the USDCHF be an 18.4a?

The price now is at 1.1620, which is about the same as the open price and up from the low of 1.1577, so time to open a sell trade.

The only thing is the midday spike to 1.1600 should not be in an 18.4, I suppose.

No it wasn't an 18.4.

Coupla things.
When you posted this, it was late in the trading day and the range had been formed already.

Your also looking for a well defined day low/high followed shortly by the opposite high/low, and i tend to look for this end of asian/begin of european.

And make sure the range for the day isn't already excessive, as the R:R in relation to the Average Range isn't as attractive.

If i get a chance, i'll try post some charts soon to show good examples.
  • #2,767
  • Edited 7:16am Feb 3, 2009 6:43am | Edited 7:16am
One thing that helped me to understand some of the templates, was to create them myself by looking back in history on different charts, applying the template I wanted to understand better and make it your "own" work. Trading = studying. Find a way to make your studying efficient !

Write down the essence of the template with some simple illustrations and you should be able to understand it quite fast.

Example:

Different criteria to apply 18.4;

  1. The low/high, high/low should not exceed 70% of ADR (based on i.e 1 month average). As Blackinc said above, the R:R in relation to the average range isn't as attractive.
  2. Stop/loss is placed below intraday Low (on long position) and above intraday High (on short position) and should be > 40% of ADR.
  3. Entry at late European session and/or NY session.
  4. The position should be opened in the direction of previous day or mid-term trend.

Two examples shown on the posted chart. On the first 18.4, SL got triggered and S&R should be in play catching the whole ADR. Notice that both trades got triggered early in the US session.

Attached Image (click to enlarge)
Click to Enlarge Name: 18.4 examples.gif Size: 37 KB
Measure twice, cut once
  • #2,768
  • Feb 3, 2009 7:05am Feb 3, 2009 7:05am
Quoting aediaz1
One thing that helped me to understand some of the templates, was to create them myself by looking back in history on different charts, applying the template I wanted to understand better and make it your "own" work. Trading = studying. Find a way to make your studying efficient !

Write down the essence of the template with some simple illustrations and you should be able to understand it quite fast.

Example:

Different criteria to apply 18.4;[list][*]The low/high, high/low should not exceed 70% of ADR (based on i.e 1 month average). As...

Excuse me, but I would like you to correct:
shouldn't exceed 30 pips - shouldn't exceed 40% ADR
  • #2,769
  • Feb 3, 2009 7:14am Feb 3, 2009 7:14am
Quoting Alex III
Excuse me, but I would like you to correct:
shouldn't exceed 30 pips - shouldn't exceed 40% ADR
You're right, I will edit my original post, thank you for pointing out.
Measure twice, cut once
  • #2,770
  • Feb 3, 2009 4:36pm Feb 3, 2009 4:36pm
I wanted to post chart, this is close, having quickly scanned some charts this morning.

Not a true 18.4, as price didn't retrace to daily open after making a new low. But i did like the timing and manner of it making new high then low, and it is a good demonstration of this.

Saying that, i didn't and wouldn't have traded it.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.JPG Size: 69 KB
  • #2,771
  • Edited 10:54pm Feb 3, 2009 10:50pm | Edited 10:54pm
Hi! I would like to have anyone's views on the dollar/yen pair.

First, could this become a valid inverted H&S pattern with a break of the neckline? Such break would target the red line at 95.10, right? (91.10 + (91.10 - 87.12)). That would take us above the january high of 94.63 and thus giving us a double bottom at 87.1O.... Does that make any sense at all?

Igrok has written this last december

"I just think that it looks quite likely that the bottom for the current USD/JPY trend to be located somewhere at .8650-.8700 zone."

Does anyone has any idea what Igrok is seeing at that zone?

Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: us-jy3.gif Size: 20 KB
  • #2,772
  • Feb 4, 2009 2:54am Feb 4, 2009 2:54am
Are we looking to a bullish diamond on 4h geppy ?????

(sorry can't post a chart in this moment)
  • #2,773
  • Feb 4, 2009 3:22am Feb 4, 2009 3:22am
Quoting giusepp8
Are we looking to a bullish diamond on 4h geppy ?????

(sorry can't post a chart in this moment)
Wanted to short at the upper border but price never reached it on my chart. Looks bullish to me as well.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.jpg Size: 109 KB
  • #2,774
  • Feb 4, 2009 7:56am Feb 4, 2009 7:56am
# The position should be opened in the direction of previous day or mid-term trend.


aediaz1, How would you define mid-term trend ?
The future depends on what we do in the present.
  • #2,775
  • Feb 4, 2009 3:59pm Feb 4, 2009 3:59pm
Quoting aediaz1
One thing that helped me to understand some of the templates, was to create them myself by looking back in history on different charts, applying the template I wanted to understand better and make it your "own" work. Trading = studying. Find a way to make your studying efficient !
I had a look at M30 charts for 20 pairs over the month of January and it seems at a glance there were patterns coming close to mainly 18.1 and 18.2 templates. See the attached table. I did not apply all the criteria like %age of ADR, times of sessions so I'm sure a a lot of them of them wouldn't pass the test although with the benefit of hindsight they could have been profitable trades.
Attached File(s)
File Type: xls Igrok method intraday templates.xls   17 KB | 874 downloads
  • #2,776
  • Feb 4, 2009 5:09pm Feb 4, 2009 5:09pm
Quoting compro99
# The position should be opened in the direction of previous day or mid-term trend.


aediaz1, How would you define mid-term trend ?
By defining the trend on i.e either weekly or monthly (MMOW/MMOM)
Measure twice, cut once
  • #2,777
  • Feb 4, 2009 5:18pm Feb 4, 2009 5:18pm
Quoting HapaSasa
I had a look at M30 charts for 20 pairs over the month of January and it seems at a glance there were patterns coming close to mainly 18.1 and 18.2 templates. See the attached table. I did not apply all the criteria like %age of ADR, times of sessions so I'm sure a a lot of them of them wouldn't pass the test although with the benefit of hindsight they could have been profitable trades.
Good initiative, but did you exclude time of sessions like you just looked after the pattern regardless of the session it traded in ? Also, some of the templates depend on having a set amount of pips/% of ADR (within the pattern) to be valid.
Measure twice, cut once
  • #2,778
  • Feb 5, 2009 3:52am Feb 5, 2009 3:52am
One thread that was worth reading on the forum and now seems its dieing. Anyway good things dont last long. No wonder why 95% of traders never make it. They are led by the blind to sellfdestruction. Anyway i hope that Mr Igrok will still pop in from time to time with his priceless posts.
  • #2,779
  • Feb 5, 2009 12:54pm Feb 5, 2009 12:54pm
Quoting belekas
One thread that was worth reading on the forum and now seems its dieing. Anyway good things dont last long. No wonder why 95% of traders never make it. They are led by the blind to sellfdestruction. Anyway i hope that Mr Igrok will still pop in from time to time with his priceless posts.
Haven't been too many setups to share lately, unfortunately. Seems like the market is finally changing. To share some life, here's how I changed my TP from average daily range (18.1 on usd/chf) to weekly average range after MMOTW changed. Makes sense to anyone ?
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf 18,1a2.jpg Size: 116 KB
Measure twice, cut once
  • #2,780
  • Feb 5, 2009 3:05pm Feb 5, 2009 3:05pm
Quoting aediaz1
Good initiative, but did you exclude time of sessions like you just looked after the pattern regardless of the session it traded in ? Also, some of the templates depend on having a set amount of pips/% of ADR (within the pattern) to be valid.
I just had a general look as my first bit of research. I will start taking into account the session times and pips/ADR.

By the way, it looked like an 18.1 on GBPUSD today.
At the moment by day I have no access to my platform otherwise I would have tried it.
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