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5 minute Wave Analysis. (Intraday price action method)

  • #141
  • Feb 21, 2009 11:49am Feb 21, 2009 11:49am
in essence all you have here is none other than 123 type trading which is ok in my book
  • #142
  • Feb 21, 2009 2:03pm Feb 21, 2009 2:03pm
Brian:

Thanks for the update and it helps a lot. I know some times it's hard for you to answer every one's questions and concentrate on trades. Some times, we join middle of the chat and asked the same question which may be answered by you twice in last hour. I like your new idea of separating live trades and all the questions/knowledge part. I know some of you trade live and some of us are on demo and just learning. We don't want to take too much advantages of your generosity and we don't want you to loose your concentration on your live trades becuase of too much noises. I hope, we will be more organized next week.

Thanks again for your willingness to help other aspiring traders.

-FX_California
  • #143
  • Feb 21, 2009 4:35pm Feb 21, 2009 4:35pm
Well done Brian; hopefully, another good system is born on FF.

Looking forward to trading with you.

Gray.
  • #144
  • Feb 21, 2009 4:48pm Feb 21, 2009 4:48pm
Quoting harold4x
in essence all you have here is none other than 123 type trading which is ok in my book
thanks harold4x for clearing that up, looks like i have to wait till chat room on monday.

tick
Better being out wishing to be in, than being in wishing to be out....
  • #145
  • Feb 21, 2009 5:46pm Feb 21, 2009 5:46pm
Here is a small contribution to help with having to open three (3) charts for every pair traded. Add the indicator onto a M5 chart.

TimeFreedom
Attached Image (click to enlarge)
Click to Enlarge Name: intradaywave_01.gif Size: 18 KB
Attached File(s)
File Type: mq4 OSC-MTF_CF_SYSv1.1.mq4   14 KB | 727 downloads
  • #146
  • Feb 22, 2009 12:24am Feb 22, 2009 12:24am
Brian,

The first page is much better now. Just to clarify step 2. In step 2 you can trade with or against the major trend as identified on the 4hr chart. Would that be correct?

If the 30M chart is trending against the 4hr major trend then you use the 30M chart for entries against the major trend. If the 30M chart is going in the same direction as the major trend on 4hr you drop down to the 5M chart and look for entries with the breaks of the swing highs or swing lows.

Does that sum up the concept correctly?
  • #147
  • Edited 12:49am Feb 22, 2009 12:31am | Edited 12:49am
Brian,

What would be nice is you being able to show us the trades on a live chart. Like GoToMeeting, etc... Just an idea.

Note: Here is a free 20 seat live conference service: https://vyew.com/ If you want 100 seats it cost you pocket change per month.

TimeFreedom
  • #148
  • Feb 22, 2009 3:04am Feb 22, 2009 3:04am
Hello Everyone,

I updated the first post a little while ago with additional info on each step. I hope this answers a lot of questions you are all having. Tomorrow during the day, i'll go through this thread and answer the questions that have been posted here. Hopefully i'll have it all done before we start tomorrows trading session.

Brian
  • #149
  • Feb 22, 2009 6:16am Feb 22, 2009 6:16am
Quoting Brian8182
Hello Everyone,

I updated the first post a little while ago with additional info on each step. I hope this answers a lot of questions you are all having. Tomorrow during the day, i'll go through this thread and answer the questions that have been posted here. Hopefully i'll have it all done before we start tomorrows trading session.

Brian


thanks, Brian
  • #150
  • Feb 22, 2009 7:40am Feb 22, 2009 7:40am
somebody..pls tell me..about the result..that posted in the... http://intradaywave.freehostia.com/i...page_id=11..is that for a single pair tarding or for all pairs that traded..on that day..PLS..let me know..thks guys
  • #151
  • Feb 22, 2009 7:56am Feb 22, 2009 7:56am
ninjas, that is for all pairs
  • #152
  • Feb 22, 2009 9:48am Feb 22, 2009 9:48am
Quoting dreamtrader
ninjas, that is for all pairs
thanks..dream..now one more Q..how many pairs that they trade using this strategy..perday? thkns man..
  • #153
  • Feb 22, 2009 10:10am Feb 22, 2009 10:10am
Quoting Brian8182
--Step 2. Confirm that the 30min chart is trending the same direction at the 4hr--
Start by using the same principals shown in step 1 to determine the trend on the 30min chart.

If the 30min chart is trending the same direction as the 4hr chart, then use the 5min chart to determine your entry.
If the 30min chart is trending against the 4hr chart, use the 3min chart for your entry.
I guess you meant the 30m?
  • #154
  • Feb 22, 2009 2:42pm Feb 22, 2009 2:42pm
Hi Brian. A big thankyou for all you are doing to assist each of us in becoming better traders. I was able to follow you instruction, tradeds etc, until you changed chatrooms. Now I cannot gain access. I get this pop up about active Xcontrol install or something about Java, whatever, I clicketc and do what I think I should do but still no access. Maybe you could shed some light on what to do. Thanks again for your selfless instruction and committment to this thread. God bless.

Regards, Rod
  • #155
  • Feb 22, 2009 3:03pm Feb 22, 2009 3:03pm
Timefreedom - thanks for your indicator. What a great idea, and it makes chart management a lot easier.
  • #156
  • Feb 22, 2009 3:07pm Feb 22, 2009 3:07pm
Hi guys,

About how long do you trade for in the room? Do you trade right in to the New York session?
Life is too short to have anything but delusional notions about yourself.
  • #157
  • Feb 22, 2009 6:22pm Feb 22, 2009 6:22pm
Good morning everyone..its 08:14hrs...monday.. in my place..my time zone is GMT +8 hrs..still cant logon into.. http://intradaywave.freehostia.com/index.php?page_id=7 its 2 days already im trying to.logon but unfortunately..the msg still..the same thing..setup error : java.lang.Exception:Mandatory 'nick' parameter not provided..pls advise..got to go..for day job..thkns
  • #158
  • Feb 22, 2009 6:53pm Feb 22, 2009 6:53pm
Hi Brian,What kind of money management do you use with multiple positions open?
  • #159
  • Feb 22, 2009 6:59pm Feb 22, 2009 6:59pm
Quoting ozziedave
Brian,

The first page is much better now. Just to clarify step 2. In step 2 you can trade with or against the major trend as identified on the 4hr chart. Would that be correct?

If the 30M chart is trending against the 4hr major trend then you use the 30M chart for entries against the major trend. If the 30M chart is going in the same direction as the major trend on 4hr you drop down to the 5M chart and look for entries with the breaks of the swing highs or swing lows.

Does that sum up the concept correctly?
Every trade taken is ALWAYS in agreement with the 4hr trend. We never trade against the 4hr trend.
  • #160
  • Feb 22, 2009 7:01pm Feb 22, 2009 7:01pm
Quoting TimeFreedom
Brian,

What would be nice is you being able to show us the trades on a live chart. Like GoToMeeting, etc... Just an idea.

Note: Here is a free 20 seat live conference service: https://vyew.com/ If you want 100 seats it cost you pocket change per month.

TimeFreedom
Hey I checked that out. We had over 100 people in the chatroom on Friday though, so I don't think 20 or even 100 seats would work.

Thanks for the suggestion though,
Brian
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