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Damion's Tribute

  • #121
  • Jul 9, 2009 8:45am Jul 9, 2009 8:45am
Another yen pair trade, I had wanted to place a sell stop for EURJPY but I was too slow... looks like I wll just stick with these 2 pairs.
Attached Image (click to enlarge)
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  • #122
  • Edited 4:52pm Jul 9, 2009 9:47am | Edited 4:52pm
Quoting finswin56
Thanks for the link and feedback!
That Cable gartley that I think I saw obviously failed. I didn't trade it, even with the minimal risk that comes with gartley patterns, for the even more obvious reason of the looming BOE rate decision.

Just trying to sharpen my eyes, so to speak.
Hi,

Keep to the core system which is the trendlines. Use the Gartley only to confirm point C like Mike has mentioned and/also to minimise your risk. In short you use it at the beginning to take the trade not after price has run a few 100 pips.

What has also helped me is that I only trade the monthly, weekly and daily trendlines on the 240 Mins chart. When I see a set up forming near the trendlines above on the 240 mins chart, I zero down on the 15 mins. However, I am still using the daily trendline as a guide line on the 15 mins chart.

It does take a little while to spot the trades. With some experience you will be suprised how quickly you will be able to spot them.

Have a look at the Gartley that you missed which completed at the down trendline. You would have done very well there.
AFTAB Time Will Tell & Price Will Show
  • #123
  • Jul 9, 2009 4:50pm Jul 9, 2009 4:50pm
I posted this chart last night with the intention that price would give us a short at the trendline.

The 4 Hour clearly suggested that the probabilities of going short were not good.

Mike mentioned he used the Gartley to confirm the C point. This is one way of doing the opposite, specially when you are so close to the trendline and trading with the long term trend as Soya mentioned.

Nice R:R of 14:94 pips. If I was trading more than 2 minis I would still be in this trade. This is where DRA's rules will kick in.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBP - Stalking Short Trade.jpg Size: 121 KB
Click to Enlarge Name: GBP - Bullish Gartley.jpg Size: 140 KB
AFTAB Time Will Tell & Price Will Show
  • #124
  • Jul 9, 2009 10:05pm Jul 9, 2009 10:05pm
Quoting aftab
Hi,

Keep to the core system which is the trendlines. Use the Gartley only to confirm point C like Mike has mentioned and/also to minimise your risk. In short you use it at the beginning to take the trade not after price has run a few 100 pips.

What has also helped me is that I only trade the monthly, weekly and daily trendlines on the 240 Mins chart. When I see a set up forming near the trendlines above on the 240 mins chart, I zero down on the 15 mins. However, I am still using the daily trendline as a guide line on the 15 mins chart.

It...
I really appreciate the lessons aftab. Looking at the last example you posted, I have to admit that I would easily have missed that one. But, my eyes do seem like they are opening. Thank you.
  • #125
  • Jul 9, 2009 10:52pm Jul 9, 2009 10:52pm
Quoting finswin56
I really appreciate the lessons aftab. Looking at the last example you posted, I have to admit that I would easily have missed that one. But, my eyes do seem like they are opening. Thank you.

finswin56,

Do this. Demo trade every Gartley on 1 currency pair with DRA's system with your STOP LOSS. Remember DRA's system is the one that we are following not the Gartley.

We are only using the Gartley to determine:

1. If price will respect the trendline or not; and
2. To minimise the stop loss and get in with a better entry; and
3. To trade it when it is trending on the smaller time frame keeping the larger time frame in mind.
AFTAB Time Will Tell & Price Will Show
  • #126
  • Jul 9, 2009 11:18pm Jul 9, 2009 11:18pm
  •  Nimrod
  • | Joined Oct 2008 | Status: Energy and persistence conquer all | 168 Posts
Quoting aftab


We are only using the Gartley to determine:

1. If price will respect the trendline or not; and
2. To minimise the stop loss and get in with a better entry; and
3. To trade it when it is trending on the smaller time frame keeping the larger time frame in mind.
Aftab bro, I appreciate the samples you showed us in the previous posts.I was wondering if you could help us or show us again how to determine the above three points you mentioned above.I apologize if I ask too much bro.I m a visual learner and a dyslexia .

Thanks you sir for the previous posts.
  • #127
  • Jul 10, 2009 6:03am Jul 10, 2009 6:03am
I hope you guys have been following the yen pair trades. Looking good so far.
  • #128
  • Jul 10, 2009 9:10am Jul 10, 2009 9:10am
Quoting Nimrod
Aftab bro, I appreciate the samples you showed us in the previous posts.I was wondering if you could help us or show us again how to determine the above three points you mentioned above.I apologize if I ask too much bro.I m a visual learner and a dyslexia .

Thanks you sir for the previous posts.
Nimrod,

I have got the boss"s (Soya's) go ahead.

I am putting something together that will get us trading combining the two methods by next week.
AFTAB Time Will Tell & Price Will Show
  • #129
  • Jul 10, 2009 6:31pm Jul 10, 2009 6:31pm
Nice seeing you guys here again.

Been having problem posting on the forum
God's Love For You Is Sure Never You Doubt It
  • #130
  • Jul 10, 2009 8:06pm Jul 10, 2009 8:06pm
  •  Nimrod
  • | Joined Oct 2008 | Status: Energy and persistence conquer all | 168 Posts
Quoting aftab
Nimrod,

I have got the boss"s (Soya's) go ahead.

I am putting something together that will get us trading combining the two methods by next week.
Thanks guys.This means a lot to me personally.Teaching and learning comes hand in hand.I hope to contribute to this thread.The posts you guys are contributed are valuable.This method, thread, the Q&A, and the responses are Gold.


Soya: I hope you guys have been following the yen pair trades. Looking good so far.
Soya bro, I capitalised on the yen pairs you mentioned and closed partially.I had a good trade on EJ,AZ and GJ.All profits have been lock and secured.I m sure all of us benefited.Thank you sir.

Nice to see you here D liberator.

Have a great week end.
  • #131
  • Jul 11, 2009 1:16am Jul 11, 2009 1:16am
I have prepared a few notes for those who are new with an intention of using DRA's system as the core system with a combination of harmonics.

This may seem very basic but quiet honestly, good trading - is simple and effortless.

I have broken these notes up into sections, so if you have questions keep them related to each section.

Just as I am sharing whatever little I know, I hope you all will share what you know generously.

I want to remind you guys, that not only did my trading results see a new high, after reading DRA's thread, it became a lot less stressful.

I want to personally thank Soya and all of you for sharing.
AFTAB Time Will Tell & Price Will Show
  • #132
  • Jul 11, 2009 1:18am Jul 11, 2009 1:18am
Just the basics for the newbies...

1. AB=CD
2. AB is not equal to CD
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.0 - AB=CD.jpg Size: 96 KB
Click to Enlarge Name: 1.1 - When AB is not equal to CD.jpg Size: 87 KB
AFTAB Time Will Tell & Price Will Show
  • #133
  • Jul 11, 2009 1:33am Jul 11, 2009 1:33am
Like I said - trading is simple.

Another way of putting it is - learn the first 4 letters of the alphabets and you will make more money than learning all 26 alphabets.

1. ABCD = Trading - Summary chart
2. ABCD helps determine highs and lows
3. ABCD confirms the trend
4. ABCD offers information on when an existing trend is like to change.
5. ABCD allows us to draw trendlines (correctly)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2.0 ABDC = Trading.jpg Size: 108 KB
Click to Enlarge Name: 2.1 ABDC = helps determine highs & lows.jpg Size: 116 KB
Click to Enlarge Name: 2.2 ABDC = confirms the trend.jpg Size: 113 KB
Click to Enlarge Name: 2.3 ABDC = offers information on when trend is likely to change.jpg Size: 112 KB
Click to Enlarge Name: 2.4 ABDC = allows us to draw trendlines.jpg Size: 132 KB
AFTAB Time Will Tell & Price Will Show
  • #134
  • Edited 2:00am Jul 11, 2009 1:45am | Edited 2:00am
Notes 1.0 & 2.0 now allow us to draw trendlines correctly.

Notes 3.0 outlines the simple rules.

1. The system rules - detailed rules maybe found here - http://www.forexfactory.com/showthread.php?t=100929

2. Mike's observation - http://www.forexfactory.com/showpost...&postcount=106

3. Another filter I personally use - I do not trade the 240 Mins trendlines. I only look at the monthly, weekly & daily trendline, but this is my opinion.

The down red trendline and the up green trendline are both marked on this 240 Mins chart. The red trendline would not be valid on the daily chart while the green one valid as a trendline on the daily chart.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 3.0 - The system rules.jpg Size: 106 KB
Click to Enlarge Name: 3.1 - Easy Rules.jpg Size: 137 KB
Click to Enlarge Name: 3.2 - 240 Mins trendlines on the daily chart.jpg Size: 102 KB
AFTAB Time Will Tell & Price Will Show
  • #135
  • Jul 11, 2009 2:11am Jul 11, 2009 2:11am
1. Goes through the ABCD
2. Goes through everything you need to prepare your charts to trade
3. Goes through the system rules

Will post:

4. ABCD part of the Gartley.
5. How to trade the Gartley at the trendline.
6. How to manage your trade.
AFTAB Time Will Tell & Price Will Show
  • #136
  • Jul 11, 2009 5:08am Jul 11, 2009 5:08am
  •  Nimrod
  • | Joined Oct 2008 | Status: Energy and persistence conquer all | 168 Posts
Aftab,

I personally and on behalf of friends here in this thread, would like to thank you for the time you spent to put up these wonderful charts and notes.

We are going to put to use these knowledge.God bless you sir.

I m lost at words.

  • #137
  • Jul 11, 2009 6:01pm Jul 11, 2009 6:01pm
I received a PM with regards to this area marked by a circle.

Superb question - nice combination of when to change your thinking when you cannot find a valid ABCD.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 4.0 - Clearing The Confusion.jpg Size: 96 KB
Click to Enlarge Name: 4.1 - First ABCD.jpg Size: 106 KB
Click to Enlarge Name: 4.2 - Is it valid.jpg Size: 112 KB
Click to Enlarge Name: 4.3 - It is valid.jpg Size: 130 KB
AFTAB Time Will Tell & Price Will Show
  • #138
  • Jul 11, 2009 8:19pm Jul 11, 2009 8:19pm
  •  Nimrod
  • | Joined Oct 2008 | Status: Energy and persistence conquer all | 168 Posts
Sensei Aftab,

Refering to the third chart,
Allow me to answer as simple as I can. I hope I am correct.
The third chart is an invalid ABCD.According to the previous note(1),the BC leg cannot exceeds the AB leg, but here it does that.Furthermore the D itself is below B. Two conditions did not met a valid ABCD criteria.

So, it is an invalid ABCD.:nerd:
  • #139
  • Jul 11, 2009 8:46pm Jul 11, 2009 8:46pm
Quoting Nimrod
Sensei Aftab,

Refering to the third chart,
Allow me to answer as simple as I can. I hope I am correct.
The third chart is an invalid ABCD.According to the previous note(1),the BC leg cannot exceeds the AB leg, but here it does that.Furthermore the D itself is below B. Two conditions did not met a valid ABCD criteria.

So, it is an invalid ABCD.:nerd:
You are right my friend.
AFTAB Time Will Tell & Price Will Show
  • #140
  • Jul 11, 2009 11:34pm Jul 11, 2009 11:34pm
In my opinion and a veteran here Mike, this is probably, the difference between a sexy trade and a good trade (if you managed it will) or a trade which should not be taken at the trendline. (One of my filters).

Please read Mike's note here - http://www.forexfactory.com/showpost...&postcount=106


1. Winners think how much they are going to loose - Losers think how much they are going to win. Known fact. LAS VEGAS is proof.

For those of you, who really loved the sexy charts I posted and did not pay heed to Soya's loosing charts - be careful. There is nothing to learn from a winning trade.

2. Sell HIGH, buy LOW. Master this and your stop loss on each trade will reduce substantially, you R:R will improve but most importantly your mindset will gradually make you think like a winner.

Don't let anybody sway you with how well they are trading or how much money they are making - it does not matter to you. NOT EVEN ME. They are not the ones paying your bills. It is you. The responsibility is yours.

3. Warning Signs - this is where the market plays with your mind. When you get good at spotting the ABCD, it will not only make your money consistenltly, it will keep you out of counter trades. After a point in time, you will be able to profit from any trade - but this is not part of the system. The ABCD is the best indicator.

4. Same trade on a lower time frame - where is the trendline gone...this is good.

5. Using the ABCD to get out of a trade with profits on a lower time frame.

6. Using the ABCD to cut your losses to the minimum.

I hope this helps.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 5.0 - Trading the ABCD.jpg Size: 115 KB
Click to Enlarge Name: 5.1 - Determing The Probabilities.jpg Size: 111 KB
Click to Enlarge Name: 5.2 - Where should you buy.jpg Size: 140 KB
Click to Enlarge Name: 5.3 - Warning Signs.jpg Size: 114 KB
Click to Enlarge Name: 5.4 - Warning Signs - 30 Mins.jpg Size: 138 KB
Click to Enlarge Name: 5.5 - Warning Signs - 15Mins.jpg Size: 146 KB
Click to Enlarge Name: 5.6 - Warning Signs - 15Mins.jpg Size: 155 KB
AFTAB Time Will Tell & Price Will Show
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