Trading Room; 1KT | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD

Similar Threads

Trading room for not 1Kt 12 replies

Trading Room; 1KT

  • #1
  • First Post: May 13, 2009 8:49am May 13, 2009 8:49am
I found out that I actually missed the old Trading Room. I believe the standard where at least 1 notch higher there. I'm trying to resurrect that.

Few professionals bother to share their point of view on a online forum but miracles does happen just not on daily basis

I would like this place to contain posts from you fellas who have at least 3 years market experience (I'm not the only one who can smell newcomer disguised as a pro from miles so don't even bother)

The reason you post here is not to find trading-setups ! More for entertaining value and if we're lucky we might learn something, who knows. Never underestimate where knowledge find its form.


Carved in stone rules;

 

  1. > 3 years of market experience
  2. NO trade-calls i.e sell eurusd at 1.3565 no SL
  3. Common sense required

That's it!

Measure twice, cut once
  • #2
  • May 13, 2009 11:17am May 13, 2009 11:17am
What if we started trading on a leap year? does that mean we have to trade for twelve real years to have the 3 years experience? lol. just kidding. this sounds like a great idea. when i first came on i saw the 1KT forum, and it seemed pretty interesting.

so what are we gonna talk about? also, do you want us to post info to prove our three year status or whatever?
  • #3
  • Edited May 14, 2009 5:08am May 13, 2009 12:01pm | Edited May 14, 2009 5:08am
Quoting blacksun1
What if we started trading on a leap year? does that mean we have to trade for twelve real years to have the 3 years experience? lol. just kidding. this sounds like a great idea. when i first came on i saw the 1KT forum, and it seemed pretty interesting.

so what are we gonna talk about? also, do you want us to post info to prove our three year status or whatever?
Nah, usually its easy to see if one is "qualified" or not. I'm not sure, I wanted to post some charts but as I see absolutely nothing so I had nothing to post

I'm just throwing out a bait here. Anything that makes sense having a discussion about and if something educational pops out from it; jackpot !

I learned something new today regarding price action from whom I deeply respect, else I would never have bothered to check out since it sound so strange (to me at least). A part of his exit-plan is to exit if a bar suddenly exceeds ATR(14) x 3, no matter red or green bar. I know you will think exactly like I did. The idea is that the market usually takes the opposite direction or range after such a bar. Since he's always right and I'm wrong almost every time I find it worthy a discussion
Measure twice, cut once
  • #4
  • May 13, 2009 2:52pm May 13, 2009 2:52pm
Quoting aediaz1
Nah, usually its easy to see if one is "qualified" or not. I'm not sure, I wanted to post some charts but as I see absolutely nothing so I had nothing to post

I'm just throwing out a bait here. Anything that makes sense having a discussion about and if something educational pops out from it; jackpot !

I learned something new today regarding price action from whom I deeply respect, else I would never have bothered to check out since it sound so strange (to me at least). A part of his exit-plan is to exit if a bar suddenly exceeds ATR(14) x...
cool, so you mean on the current bar without a close or anything right? if so i do something sort of similar. whenever i see a weird spike or something that just shouldn't be there and it's in my direction, i take it immediately. i view it sort of like windfall profits or whatever. and it usually pulls back pretty quick after that, so i get me a few pips i wouldn't have otherwise.

also, i looked up your thread and looked through it. pretty good stuff. what i love about it is the simplicity. i like to design strategies and stuff, and when i first started out, i would have like six indicators and a page and a half of different rules and conditions lol. i have since simplified everything i'm doing and it works beautifully. so yeah, that's what struck me about the thread.

in the vein of reversals, i've been looking a lot at the MT4 volumes indicator and looking for reversals using it. i know it doesn't signify real volume or anything, but it does count ticks and for what i'm looking for it sure helps. what i've been doing is putting a 10 MA on the volume and looking for a small candle that has volume peaking above the MA. it seems like a reversal comes some time after this quite a bit, but it's nothing definite. it's interesting though.
  • #5
  • May 13, 2009 4:43pm May 13, 2009 4:43pm
Hello aediaz,

I like your style. You actually know how to listen to your environment.

I've been around the FF for a couple of years and been trading for about 5. I have found myself getting addicted to a thread that has absolutely nothing to do with trading because I'm tired of everyone thinking they are right and calling trades or what have you. So, this may be my spot for now.

Look forward to seeing how I can contribute - though I keep charts simple and watch price action, candle patterns, and support & resistance. I use 1 indicator from time to time - Woodies CCI with 3 EMA and 34 SMA.
  • #6
  • May 14, 2009 4:22am May 14, 2009 4:22am
Quoting blacksun1
cool, so you mean on the current bar without a close or anything right? if so i do something sort of similar. whenever i see a weird spike or something that just shouldn't be there and it's in my direction, i take it immediately. i view it sort of like windfall profits or whatever. and it usually pulls back pretty quick after that, so i get me a few pips i wouldn't have otherwise.

also, i looked up your thread and looked through it. pretty good stuff. what i love about it is the simplicity. i like to design strategies and stuff, and when i first...
So its not totally unfamiliar then

Have seen some thread dedicated to volume trading but I'm not sure how efficient it really is for quite obvious reasons. But everything that works is fine I guess.

Quote
sleep1Iopen
Member
Member Since Nov 2007
276 Posts

Hello aediaz,

I like your style. You actually know how to listen to your environment.

I've been around the FF for a couple of years and been trading for about 5. I have found myself getting addicted to a thread that has absolutely nothing to do with trading because I'm tired of everyone thinking they are right and calling trades or what have you. So, this may be my spot for now.

Look forward to seeing how I can contribute - though I keep charts simple and watch price action, candle patterns, and support & resistance. I use 1 indicator from time to time - Woodies CCI with 3 EMA and 34 SMA.

Hi there, I think you're not the only one what that "problem". Let's see what pops out from this thread
Measure twice, cut once
  • #7
  • May 14, 2009 7:32am May 14, 2009 7:32am
Admin didn't like this thread since they moved it to interactive trading
Measure twice, cut once
  • #8
  • May 14, 2009 7:43am May 14, 2009 7:43am
Without googleing it, what does CHF stand for? If you think CHF is out of context you do not face the criteria to answer in this thread !

Phil, you are not allowed to answer !
Measure twice, cut once
  • #9
  • May 14, 2009 8:21am May 14, 2009 8:21am
Quoting aediaz1
Without googleing it, what does CHF stand for? If you think CHF is out of context you do not face the criteria to answer in this thread !

Phil, you are not allowed to answer !
I call it the Chief. AKA - Cheeba. I also remember someone referring to it as Congestive Heart Failure.
  • #10
  • May 14, 2009 8:47am May 14, 2009 8:47am
Quoting sleep1Iopen
I call it the Chief. AKA - Cheeba. I also remember someone referring to it as Congestive Heart Failure.

lol so do i. i hate pronouncing all the currencies, especially when you're talking about em all day long. Swiss Franc becomes Chief, Canadian dollar becomes "Cad", Australian Dollar becomes "Awws"

i hate the franc. just when you think you now what's going on with it, it does something unexpected. and when you finally think you got the pattern down for the new movement, it does something else. ridiculous.


as for the volumes, using it as actual volume is ridiculous. but as a tick counter, it works beautifully.
  • #11
  • May 14, 2009 10:11am May 14, 2009 10:11am
Quoting sleep1Iopen
I call it the Chief. AKA - Cheeba. I also remember someone referring to it as Congestive Heart Failure.
Confoederatio Helvetica Franc ! I guess heart failure would rank high as an option =)

You guys don't use those old terms like loonie (cad) swissy and aussie? And I thought I was hip !
Measure twice, cut once
  • #12
  • May 14, 2009 10:36am May 14, 2009 10:36am
Quoting aediaz1
Confoederatio Helvetica Franc ! I guess heart failure would rank high as an option =)

You guys don't use those old terms like loonie (cad) swissy and aussie? And I thought I was hip !

more like broken hip! lol i'm kidding. i just never got into the whole nickname thing. i use my little "nicknames" as a simple way to abbreviate something in everyday conversation. i'm just lazy i guess ha
  • #13
  • May 14, 2009 1:05pm May 14, 2009 1:05pm
So there was this guy today that had to criticize my charts and tell me how to draw trend lines and channels. I was like, HUH? I wanted to get your thoughts on this.

I think of TL's and channels as more of zones than particular prices/levels. You can never know what's right - just buy low and sell high. Do you think there is validity behind that? or do TL's have to touch the tops and bottoms of candles?

I know what works for me but wanted to hear whatchya thought.
  • #14
  • May 14, 2009 1:41pm May 14, 2009 1:41pm
Quoting sleep1Iopen
So there was this guy today that had to criticize my charts and tell me how to draw trend lines and channels. I was like, HUH? I wanted to get your thoughts on this.

I think of TL's and channels as more of zones than particular prices/levels. You can never know what's right - just buy low and sell high. Do you think there is validity behind that? or do TL's have to touch the tops and bottoms of candles?

I know what works for me but wanted to hear whatchya thought.
If you want a discussion on TL you came to the right guy I have drawn TL all ways possible and in my experience there is only 2 ways to draw a TL;

 

  1. From high/low on a bar
  2. Closing-price

A hybrid of those two don't work very well. If you want it to be a pattern, pay attention to the sequences inside. In most cases it should be (inside the pattern) up-down-up-down.

Measure twice, cut once
  • #15
  • May 14, 2009 1:42pm May 14, 2009 1:42pm
Quoting sleep1Iopen
So there was this guy today that had to criticize my charts and tell me how to draw trend lines and channels. I was like, HUH? I wanted to get your thoughts on this.

I think of TL's and channels as more of zones than particular prices/levels. You can never know what's right - just buy low and sell high. Do you think there is validity behind that? or do TL's have to touch the tops and bottoms of candles?

I know what works for me but wanted to hear whatchya thought.
i personally think all support and resistance as more than zones than definite lines or levels. it's sort of ludicrous to think that a price will move up to one specific price multiple times. but i will make a zone around that price. same thing with fibos, trendlines, channels, whatever.

for example, with channels, i dont think a break of a channel is a spike outside it, or even a close outside of it. quite a few times i've seen a candle close outside of a channel, then come back and continue to range inside of it. to me that signifies a zone instead of a solid line.
  • #16
  • May 14, 2009 2:04pm May 14, 2009 2:04pm
yeah yeah. Those are my thoughts too. Same as the both of you.

Why do people have to look for any flaw, in their mind, when all they have to do is listen? Some people think they are so damn special and need to be heard; for what? To prove a point, feed an ego, can't be creative enough. I dunno. I think I will label these types as perpetual functioning retards with potential. I'm not one to label anyone though. Just saying.

Hope you guys had a good day of trading. Long euro was a good one the last 16 hours.

Cheers
  • #17
  • May 14, 2009 2:19pm May 14, 2009 2:19pm
hey! adiez bro..long time..how in the world did you start something like this without letting,the fellows know..hope i can bring in my 2cent contribtion's
Imanuel Parsifal
  • #18
  • Edited 4:27pm May 14, 2009 2:25pm | Edited 4:27pm
Here's a controversial discussion for ya:

Do you use stops?

I guess you have to if your a daytrader strategy type. In and out of 3 or more positions a day, opening a new order at a daily support or resistance point only to reverse cause the strategy isn't optimized for long term fluctuations that occur unexpectedly to 5min watchers.
  • #19
  • May 14, 2009 2:54pm May 14, 2009 2:54pm
Quoting sleep1Iopen
Here's a controversial discussion for ya:

Do you use stops?

I guess you have to if your a daytrader strategy type. In and out of 3 or more positions a day, opening a new order at a daily support or resistance point only to reverse cause the strategy isn't optimized for long term fluctuations that occur unexpectedly to 5min watchers.

I hate using stops, and find it much easier to hedge 1.33 X (times) the original position.
when ever i do,it's to lock in profit...am a long term trader
Imanuel Parsifal
  • #20
  • May 14, 2009 2:58pm May 14, 2009 2:58pm
Measure twice, cut once
0 traders viewing now