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

  • #241
  • Apr 7, 2007 10:25pm Apr 7, 2007 10:25pm
My mistake. GMT does not shift. Strategybuiderfx mt4 in moneytec will be correct 2200hr NY open.
The future depends on what we do in the present.
  • #242
  • Apr 7, 2007 11:33pm Apr 7, 2007 11:33pm
Quoting ilanr
Strange. I'm also using FXDD and MT4, but on my chart the day starts at 2100 GMT... Could have to do with daylight saving time in your/my country? I've messed up a couple of trades because of these recent clock changes...
My country has no DST, and my FXDD MT4 daily starts at 5 pm EST now (NY close). FXDD always sets its day start at 5 pm EST regardless of DST or no DST. If you're using FXDD I'd suggest you to adopt EST as comparison to your timezone.
Tra-X
  • #243
  • Apr 9, 2007 3:50am Apr 9, 2007 3:50am
Hi, Igrok. In your book, you are somewhat vague re. Fibonacci retracements. In one place (p. 46) you say they are "not useful for the trader". In another (p. 69), you recommend drawing and saving Fibonacci lines as part of daily preparatory routine. Could you please comment on what you consider the proper way of using them?
sans peur et sans reproche
  • #244
  • Apr 9, 2007 9:28am Apr 9, 2007 9:28am
I'm using Igrok methods and I don't draw Fibo. I only use it as a mean to determine the psychology and intensity of the momentum and market flow. As such, 61.8 and 38.2 is a psychological barrier and look towards it to decide on whether to get out of a trade or get ready for orders. I assumed that he is trading nakedly on the chart, although I've implemented using daily pivots to pinpoint my exits.

Igrok, you are the man.
Unless you enter the tiger's den you cannot take the cubs.
  • #245
  • Apr 9, 2007 5:31pm Apr 9, 2007 5:31pm
Quoting ilanr
Hi, Igrok. In your book, you are somewhat vague re. Fibonacci retracements. In one place (p. 46) you say they are "not useful for the trader". In another (p. 69), you recommend drawing and saving Fibonacci lines as part of daily preparatory routine. Could you please comment on what you consider the proper way of using them?
There is definitely a problem with practical application of Fibo rules. For example, if you take longer-term charts then each Fibo level might be represented by at least four different prices. One price will be there if to draw Fibo on bar charts and three other if to draw such levels based on “line on close” basis on Daily, Weekly and Monthly charts. Same problem (even more severe) would arise if to place Fibo lines on different intraday charts. Therefore those Fibo levels do have very limited usage in my trading. I never trade on them directly but I keep them in mind occasionally when am expecting to see a retracement of a sharp trend and need to make a minimal projection for how deep it might be.
  • #246
  • Apr 10, 2007 1:35am Apr 10, 2007 1:35am
Hello Igrok, on a day like today, where the markets were closed yesterday and from the Asian session to the open of the European session, both eur/usd and gbp/usd has trended up steadily and made about 80-100 pip moves, roughly about 80-90% of the ADR, is it safe to go with the short-term uptrend and with the break of the Asian high going into the European session?
If so, how would the stops be placed, since there is no range to put in besides the opening of the asian session price?
Thanks Igrok, just got your book last week and finished it over the weekend, and excellent read, it has helped tremendously with the psychological aspects of the market for me.

Regards,

Ron
  • #247
  • Apr 10, 2007 1:43am Apr 10, 2007 1:43am
Quoting megamo
Hello Igrok, on a day like today, where the markets were closed yesterday and from the Asian session to the open of the European session, both eur/usd and gbp/usd has trended up steadily and made about 80-100 pip moves, roughly about 80-90% of the ADR, is it safe to go with the short-term uptrend and with the break of the Asian high going into the European session?
If so, how would the stops be placed, since there is no range to put in besides the opening of the asian session price?
Thanks Igrok, just got your book last week and finished it over the weekend, and excellent read, it has helped tremendously with the psychological aspects of the market for me.

Regards,

Ron
Too late for all the templates based on ADTR as the range is almost complete and the levels for placing stops are too far from current prices. You might want to consider shorting Cable on the third touch of the upper trendline and this is about it for now.
  • #248
  • Apr 10, 2007 1:51am Apr 10, 2007 1:51am
Quoting Igrok
Too late for all the templates based on ADTR as the range is almost complete and the levels for placing stops are too far from current prices. You might want to consider shorting Cable on the third touch of the upper trendline and this is about it for now.
Hi Igrok, that is what I'm concerning now on the ADTR. Can help to explain "the third touch of the upper trendline". Thanks. Again, great stuff and hope you can come up with a second book as fantastic as Beat the Odds.
Unless you enter the tiger's den you cannot take the cubs.
  • #249
  • Edited 2:38am Apr 10, 2007 2:05am | Edited 2:38am
Quoting Operator
Hi Igrok, that is what I'm concerning now on the ADTR. Can help to explain "the third touch of the upper trendline". Thanks. Again, great stuff and hope you can come up with a second book as fantastic as Beat the Odds.
This cable idea also doesn't look very good. I was talking about former resistance drawn through tops made on 03.22 and 03.30 which comes at about 1.9710 today. I doubt it will hold for long but at least it's better than nothing. There are no other more or less significant technical levels near by.
  • #250
  • Apr 10, 2007 2:20am Apr 10, 2007 2:20am
Quoting Igrok
This cable idea also doesn't look very good. I was talking about former resistance drawn through tops made on 03.22 and 03.30 which comes at about 1.9610 today. I doubt it will hold for long but at least it's better than nothing. There are no other more or less significant technical levels near by.
I saw it. A possible consideration on that line. Thanks!
Unless you enter the tiger's den you cannot take the cubs.
  • #251
  • Apr 11, 2007 2:32am Apr 11, 2007 2:32am
Igrok, GBP/USD is touching the previous tops for the 4th time. What do you think? Is it the "Kiss of Death" or with this momentum, is it going to go to 9900-2000?
Thanks in advance...
  • #252
  • Apr 11, 2007 2:43am Apr 11, 2007 2:43am
The asian session has been very active for 2nd day in a row.. Any particular reason why Asian session has been so active these days after the holidays?
  • #253
  • Apr 12, 2007 8:50pm Apr 12, 2007 8:50pm
hello Igrok, since this whole week asian session has been moving above its normal range and taking some of the moves out of steam during the european session, I'm not seeing which kind of templates should I be using on the majors, eur/us gbp/us and usd/chf? Should i look for channel breaks? I was gettin burned with the adr templates unfortunately since the ranges in the asian is so high.
  • #254
  • Apr 12, 2007 9:43pm Apr 12, 2007 9:43pm
Quoting megamo
hello Igrok, since this whole week asian session has been moving above its normal range and taking some of the moves out of steam during the european session, I'm not seeing which kind of templates should I be using on the majors, eur/us gbp/us and usd/chf? Should i look for channel breaks? I was gettin burned with the adr templates unfortunately since the ranges in the asian is so high.
Doesn't seem to be a big deal to me. The swissy has just completed its rising channel on daily chart and is about to extend its losses in case of the break of the lower border. If it goes below 1.2120 it also changes the direction of the main move of the month and thus sizable extension (to complete average monthly range) is likely to be seen. The EUR/USD was also quite tradable yesterday on the template #18.4 with reasonable stops. Same template 18.4 on weekly basis could also be a good choice.
I don't understand how can you be burned with ADTR templates because almost all of them are about trading in the direction of the main move of the day and the market hasn't been that choppy recently. In worst case scenario you might just miss an opportunity to enter at a good level which only means that you have no position.
  • #255
  • Apr 12, 2007 10:05pm Apr 12, 2007 10:05pm
Thanks Igrok for making that clear, just to understand correctly, the main move of the day, nowadays being that asian session is moving alot, we would use that as the main move of the day? And if the main move of the asian session counters the main move of the previous day, should we still take the trade?
  • #256
  • Apr 12, 2007 10:14pm Apr 12, 2007 10:14pm
Quoting megamo
Thanks Igrok for making that clear, just to understand correctly, the main move of the day, nowadays being that asian session is moving alot, we would use that as the main move of the day? And if the main move of the asian session counters the main move of the previous day, should we still take the trade?
The day is 24 hour period which starts at 5p.m. NY and inludes all sessions. I don't get what is so special about Asia? This session is just a part of daily routine and is good as any other.
  • #257
  • Apr 13, 2007 8:04am Apr 13, 2007 8:04am
It is likely that Cable, EUR/USD and EUR/JPY will top out simultaneously. Not too much space on the upper side has left on all three pairs.
  • #258
  • Apr 14, 2007 2:34am Apr 14, 2007 2:34am
Igrok, the pairs when they topped out, did you come to that conclusion because of the average daily range for those pairs or was it due to a resistance on trendlines you had drawn on your charts? Sorry if I ask questions that may seem obvious, but I'm trying to "see" things similar to how you may see it, even though those things maybe obvious to you. I'm still new and trying to learn... but thanks for your input, its always appreciated.
  • #259
  • Apr 16, 2007 3:22am Apr 16, 2007 3:22am
Quoting megamo
Igrok, the pairs when they topped out, did you come to that conclusion because of the average daily range for those pairs or was it due to a resistance on trendlines you had drawn on your charts? Sorry if I ask questions that may seem obvious, but I'm trying to "see" things similar to how you may see it, even though those things maybe obvious to you. I'm still new and trying to learn... but thanks for your input, its always appreciated.
ADTR has nothing to do with that. It just seem to me that technical picture is rather toppish for Cable, EUR/USD and EUR/JPY at the moment. I guess all three pairs are coming close to the ultimate major trend tops which should be formed not more than with 150-250 pips from current levels (1.9870,1.3550 and 161.90).
  • #260
  • Apr 17, 2007 3:49am Apr 17, 2007 3:49am
Cable has just reached my "must reach" target at slightly above 2.0000. Guess it might make sense to consider shorting it on the next attempt above the figure to target 1.93 zone initially. It also might be the turning point for USD vs. other europeans.
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