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Silent Service Method

  • #241
  • Mar 5, 2009 6:00pm Mar 5, 2009 6:00pm
hi clockwork71,


it's very interesting forex system you don't need an indicator , is it right ?
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  • #242
  • Mar 5, 2009 6:14pm Mar 5, 2009 6:14pm
Quoting fxtrendline
hi clockwork71,


it's very interesting forex system you don't need an indicator , is it right ?
If I may Chris,

What Clock is trying to teach hear is not a system so much as a method to help you understand, logically what the market (any market) is doing & how, after some practise you can pull money from it, when the market makes it available.

Take some time to read & fully understand what he is saying.. & if you dont understand something, please ask.. Chris will answer all you questions & if you keep at it soon you will find this as easy & boring as others do.
  • #243
  • Mar 5, 2009 9:44pm Mar 5, 2009 9:44pm
do you use any other type of trading tools: fibs? ema's? tl's? divergence?
or is wkly s&r w/ daily/4h pa good enough?
do you ever take any trades that might be considered against the trade w/ this method?
would you hold off on a trade before a major news announcement: int rates? nfp?
thx.
  • #244
  • Mar 5, 2009 10:02pm Mar 5, 2009 10:02pm
Quoting dkmb92
do you use any other type of trading tools: fibs? ema's? tl's? divergence?
or is wkly s&r w/ daily/4h pa good enough?
do you ever take any trades that might be considered against the trade w/ this method?
would you hold off on a trade before a major news announcement: int rates? nfp?
thx.
For starters:

I do NOT trade on NFP Fridays, period, end of story. I NEVER break that rule. EVER. Same thing for Interest Rate Announcements. It's amateur hour when that is going on....You really are asking for trouble trading those announcements.

As far as things for confluence....yes I do. But I don't use them to make a decision by themselves.

And example:

Let's say I am look at a S/R area that appears on our weekly charts. The latest daily bar has formed a pinbar. Great.....so at that point I might check the MACD for divergence...(I will get into that later.....for those of you that don't know what it is.....it's not overly important.) I also will draw a fibonacci retracement set and see if it provides another reason.

So if our bar is at a S/R line, and with the trend.....at the 50% (example) - I will give it more wieght. Why? Because everyone else on the planet draws fibs. I don't believein them by themselves. They are what I would call a "second tier" indicator. They only add to the reason to get into a trade, not make a reason.....

As far as your question about only going with the trend, I will take trades in either direction...but counter-trend and trend trades are handled differently in their management after I get it. (this is coming.)

CW
  • #245
  • Mar 5, 2009 10:27pm Mar 5, 2009 10:27pm
These are some of my more favorite formations to trade. Not all possible bar formations are listed here, mainly because I only trade these. I know that some people trade inside bars (example) - but I am not comfortable with them. And if you aren't comfortable.....you are likely to screw things up. Play to your strengths.

None of these patterns matter - unless they are at a weekly S/R line.
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  • #246
  • Mar 5, 2009 10:58pm Mar 5, 2009 10:58pm
Quoting clockwork71
These are some of my more favorite formations to trade. Not all possible bar formations are listed here, mainly because I only trade these. I know that some people trade inside bars (example) - but I am not comfortable with them. And if you aren't comfortable.....you are likely to screw things up. Play to your strengths.

None of these patterns matter - unless they are at a weekly S/R line.

Excellent stuff ...

Not to sidetrack your thread or anything but have you checked out Strat's Stress free Trading thread? For the main part you guys both present your trading methodology in a similar fashion; long term trading, with a focus on Weekly/Daily S&R levels. Anyways, im thankful to have found both your threads. I can already feel the changes in how I see the market, and how confidently I can spot high probability setups to execute an entry off of.

On another note, aside from your major S&R levels from the Weekly, when you drop down into the Daily/4HR, do you plot minor resistance levels as well?

... BWise ...
  • #247
  • Mar 5, 2009 11:16pm Mar 5, 2009 11:16pm
Quoting BWise
Excellent stuff ...

Not to sidetrack your thread or anything but have you checked out Strat's Stress free Trading thread? For the main part you guys both present your trading methodology in a similar fashion; long term trading, with a focus on Weekly/Daily S&R levels....

No.....I haven't read that thread.

Minor areas don't interest me. However, they serve as great places to hide stops behind as you manage a trade. (a little foreshadowing there...)

CW
  • #248
  • Mar 6, 2009 12:12am Mar 6, 2009 12:12am
Hey CW,

Is there any difference between "V" and "U" pinbar? Seems "V" is very fast down move (in uptrend) while "U" little slower. Is there any difference in term of which one has more higher probability of good trade (assumed off Daily/Weekly S/R) based on your experience. This "V" and "U" is really new to me. GJ - "U", U/Cad - "V". Let me know if I got them wrong. Thanks!
Attached Images
  • #249
  • Mar 6, 2009 12:31am Mar 6, 2009 12:31am
Thank you for this thread CW.

Do you xfer your weekly/daily S & R lines to your lower TF charts?
  • #250
  • Mar 6, 2009 2:42am Mar 6, 2009 2:42am
Hi,

I know this is an NFP day, but the outside bar on the this looked too good not to take sliced half off of my position after the break and looking to move the stop to break even. What ever happens next wont hurt.
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  • #251
  • Mar 6, 2009 6:24am Mar 6, 2009 6:24am
I appreciate you so much for bringing me back home,my appreciation is for the presentation of your gospel according to S&R,i was lucky to stumble on your thread,and started trading your method with a little tweak,initially i was losing,and i continue reading ur post and i discovered i was to in a hurry in entering trades,so i waited for the market to come to me and started opening all kinds of currencies,as am writing to you i have taken 30 trades dis week 7 losers 23 were winners,my acct is up by 10% already,i still have trades running profitably,

NB:I didnt check for news i traded it purely looking at the chart and letting it speak to me like a still small voice.

My currency pick is AUD/NZD ITS HITTING A MAJOR RESISTANCE(WEEKLY CHART) AND CAN SET THE DIRECTION FOR COMING MONTHS



Thank you CW am your fan and following this thread.
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #252
  • Mar 6, 2009 7:51am Mar 6, 2009 7:51am
Quoting inflxshn
Thank you for this thread CW.

Do you xfer your weekly/daily S & R lines to your lower TF charts?

I only do weekly. Any daily one should show up on weekly if it truly matters. Otherwise, it's minor.

And yes, I always leave those on the charts.
  • #253
  • Mar 6, 2009 7:52am Mar 6, 2009 7:52am
I seem to find that it's about the same......I don't know that one is better than the other. However, if it's a "U" shape, it infers that people are slowly buying or selling in a more consistent manner.

But I trade both the same.

CW

Quoting arcus
Hey CW,

Is there any difference between "V" and "U" pinbar? Seems "V" is very fast down move (in uptrend) while "U" little slower. Is there any difference in term of which one has more higher probability of good trade (assumed off Daily/Weekly S/R) based on your experience. This "V" and "U" is really new to me. GJ - "U", U/Cad - "V". Let me know if I got them wrong. Thanks!
  • #254
  • Mar 6, 2009 8:22am Mar 6, 2009 8:22am
Hi CW.
Nice thread indeed...
Can you please post your PPZ for the E/U?
Do you only draw lines that have acted as both S&R?
Thanks .
  • #255
  • Mar 6, 2009 8:30am Mar 6, 2009 8:30am
Quoting panos69
Hi CW.
Nice thread indeed...
Can you please post your PPZ for the E/U?
Do you only draw lines that have acted as both S&R?
Thanks .

I don't do requests, as it turns this into a signal service. I only draw examples.

But to answer your other question.....I like to see places where it has acted as both, yes.
  • #256
  • Mar 6, 2009 8:56am Mar 6, 2009 8:56am
Dear CW,
I'm new in FF. But find your thread make sense. Read every pages. Thanks for being our mentor. But I am not sure how to identify valid SRs.
Please comment on my chart and need your pointers.
Thank you CW.
Great!
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  • #257
  • Mar 6, 2009 9:02am Mar 6, 2009 9:02am
Hi Clockwork

Notice that you effectively plan pairs to look at over the weekend, which is something that I and I imagine many others who follow your thread will be doing this weekend.

I have traded cable and nothing else for the last 18 months ( for no particular reason save for familiarity) so really anything else for me is new.

Would you recommend looking at a dozen or more pairs or would you recommend narrowing it to start with to a handful of the more popular ones?

thanks again- great thread

Mark
  • #258
  • Mar 6, 2009 9:07am Mar 6, 2009 9:07am
Quoting clockwork71
I don't do requests, as it turns this into a signal service. I only draw examples.

But to answer your other question.....I like to see places where it has acted as both, yes.
I agree 100%.
Sorry if my bad english put you in a bad position .
I dont ask for signals lol .
  • #259
  • Mar 6, 2009 9:11am Mar 6, 2009 9:11am
Quoting clockwork71
For starters:

I do NOT trade on NFP Fridays, period, end of story. I NEVER break that rule. EVER. Same thing for Interest Rate Announcements. It's amateur hour when that is going on....You really are asking for trouble trading those announcements.


CW

Does the NFP rule apply to all currency pairs, or just USD based pairs?

BWise
  • #260
  • Mar 6, 2009 9:21am Mar 6, 2009 9:21am
Quoting p23ss
Dear CW,
I'm new in FF. But find your thread make sense. Read every pages. Thanks for being our mentor. But I am not sure how to identify valid SRs.
Please comment on my chart and need your pointers.
Thank you CW.
Great!
I hope you dont mind me dropping my 2 cents, CW ...

Try and keep in mind, when drawing your S&R points look for levels that have acted as both S&R, as they tend to be stronger, and that most levels are zones and not a single pip. Also keep round numbers in mind because they are important.

To help you out on the EUR/USD, we're currently in a 1.2500 - 1.3100 S&R zone; take that and run with it.


BWise
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