Silent Service Method

Please see the 2 charts...

Chart 1: EU-1:4000 region.

Chart 2: EJ: 13600 and 14000-14100 regions.

Some bad fundamental news doing the rounds in which case may be we go down sooner.

Been following this thread from the beginning but haven't really posted much here.

I can see a lot of thought and hard work has gone into your thread and the "teaser" so far .... thanks for sharing your knowledge and experience.

Cheers
MM

A nice intro document: simple and well presented.

Possible setup on NZD/USD for a short

and for those of you playing at work

Having a "target" in trading is dangerous thing: the market is not a supermarket, you cannot expect things to "align" daily/weekly for your target to be met. If you are forcing your trades to meet that "target", you start seeing what is not there...

Also, pips as such mean nothing. E.g. Trader 1 made 40pips (with a 10-pip SL), and Trader 2 made 100pips (with a 30-pip SL). Both sized their positions using the same principle. Who made more money?..

Having a target certainly is not dangerous.
When i go counter trend, i almost always have a target, and it usually gets hit to the pip before the trend continues

Stop to BE...target is in the 140 range....

What if the price stopped 10 pips away and started moving in the opposite direction. Would you still be waiting to hit your target? Just think how many traders are watching key levels, and how many are exiting earlier to be one step ahead of the crowd.

Then 1 of 2 things happen :
1 - get taken out for some profit or BE (behind some defined SR zone)
2 - take a loss

Every trade i take i have general guidelines or targets.
At such and such an area i move stops to BE etc

For counter trend trades, i usually skip the BE step and just close. For me, it works out more profitable

Trade went well.
1% locked in now and looks to be creating a lovely 4hr bull pin.
We'll go long at 1.6750 and move to BE when price hits 1st SR zone about 1.6790

Overall trend is up so might have a chance of getting to 1.7

Also looks like a nice 4hr pin on eurgbp off .9
eurjpy 4hr pin off 132
chfjpy 4hr pin
nzdusd might close in a daily pin, we'll see.

Clock,
Great stuff in that PDF. As I now start my 3 months of a small live account (per J16, after 3 mos demo), I will be reviewing the information you've provided in both the pdf as well as this thread in general (and of course the J16 chart thread).

Thanks for your hard work in getting that out to us.

Josh

I am at work, and thanks for the heads up. Looks like I missed the 4hr pinbar entry, the daily maybe a tough call, dont know if I missed the move or not.

CW, nicely written piece.

I like the bit about risking less by taking less trades. I think this happens in part when you start recording your trades (your entries, your exits, what you thought would happen, what actually happened, your mistakes) as you see the logic and process that goes into a trade from beginning to end. When you calculate your profits and losses, you soon realize that a few decent winners a month puts you in the green and ahead of most traders.

I found that all too often I would be ahead and then get into a few positions that did not work out and bam - back to square one or worse still, a negative equity curve.

I think its important to realize that even if you are ahead by just a small amount that you are still big step ahead of those 90% of other traders who are in the red. Like you said everyone is trying to be a hero, and to be proved right in the market - which is not an equation for longevity in this game.

and you should enjoy trading as much as possible. it becomes a unequivocally frustrating game of hardship and economic demise for so many people who put themselves into it without the knowledge and education to learn when to trade, how to trade, how much to risk and how often and without even knowing the answer to the most basic of question - why to trade.

the perils of wisdom that your silent submarine thread are sporadically shedding should be grasped by those who seek to learn and grow and eventually prosper. Thanks for posting! Look forward to the next piece.

the attached NZDJPY charts shows what was a nicely forming shooting star pin about an hour ago.

Now though price has continued down and the bar is showing what is technically a BEOB with a long tail.

Question is, is this a valid PA setup? What if price didn't quite make it to a BEOB, is it still a valid PA bar setup? It is at a cracking SR zone though, so maybe some leaway on the bar shape?

thanks for your help

Tony

OK, liking this. Nicely forming shooting star pin at big SR level.

Tony

Hey mate,

Check the last couple of posts on page 95. NZD/USD.

NZD/USD looks like a set up on the short side.

 

1. pin forming at PPZ
2. divergence on daily
3. bounce of weekly resistance

thanks VB, missed that. Was a nice 4hr setup too.

Tony