Law Of Chart

TRADE WHAT YOU SEE NOT WHAT YOU THINK CUS TRADING IS BUSINESS

Hi Traders, Call me DON..... My new thread to introduce this method. I have been using other methods in my trading strategy but i decide to keep it simple in this amazing strategy, but the only reason for opening this thread is to bring out other interesting and amazing pattern that always form in a peak and valley in our charts..it can be small and it can be big to identify but it all depend on the time frame u are looking at, the choice is yours to use small Time frame for small target or big Time frame for big target remember the greater the Time frame the more the pattern get stronger...But to me i will be using 5min chart or 15min chart for entry and other TF for confirmation if i decide to hold my position for long term or intra-day.
There is one thing that came in my mind before opening this thread, i have been searching for a thread that use this method on FF but still cant find any, i know it is very possible that someone is trading this method out there but none on FF or it might be in other format and that give me the main reason to bring it out and make it more popular. I have a very good friend that introduce me to it and more pro in this 1-2-3HL trading. we share Analysis and tell me if i am wrong or not I have found out that every now and then this pattern come out, sometime it play out but sometime it does not as they always say, there is no holy grail so no system give 100% good result there must be a time u will make wrong decision but what i am concern about is consistence profit, Min your loses and Max you profit with you Good MM don't forget your stop lose. It work for in every CURRENCY,STOCK,CFD COMMODITIES...Just a simple bars or candle high and low , read the book for more understanding.
My platform does not allow custom indicator so i do everything manual
Auto 2 prior day high & low lines.
Auto vertical line for new market session open
I plot 50ema as my channel for breakout of RH, Ledge, Congestion,Trading Range from LOC..

The attachment below is the book of it so use it to learn and understand how to find this patterns..
Thanks for reading this thread and sharing your opinion, wish you all the best in your trading..http://cdn.forexfactory.com/images/s...m/thumbsup.gif

Hi Donfriday,

This is a very simple pattern and is very similar to what Feb is using in his 'The System II (with Irony)' thread. You have all the info there in the file you posted so not sure what more you need to know.

I don't necessarily agree with you that the pattern is stronger on higher time frames. There are plenty of opportunities using it on 5min for example. You can trade all the minor trends in a longer term trend thus maximising your profit potential and making up for the extra spread you give to your broker trading the smaller time frame (whether this actually holds true given that you will have more losses on the lower time frame remains to be researched thoroughly -what a great thread that would make). The trick is to take every pattern without fail and to manage your risk (cut losses short), and hold profitable trades for potential runners (see the Feb thread as mentioned above). If you miss a trade opportunity then you might miss the runner for the day and your chance to recover losses and come out on top with profit. I suppose you just have to weigh up the pro's and cons of lower time frame trading. My biggest gripe with lower time frame is the sitting at the computer all day - not fun.

A better entry using this pattern is the traders trick (Joe Ross). This enables you to get in before the hook is breached within a maximum of 4 bars. As long as you have a decent distance from entry and the hook to cover the costs (Spread/commission) of the full trade using one third of your lot size the method can be very profitable.

These methods are strictly trend only methods so it is very important to identify when the market is in consolidation. You might try Joe's 'Camel Back' method, useful for keeping out of ranging markets. This uses a 40 ema channel (high and Low). When price is within the channel you simply stay out until a Hook occurrs outside of the channel, above for longs and below for shorts. My own adaptation is trade the traders trick within the channel as long as the channel isn't flat, but with a 'good' angle.

Thnx porkpie for the explantion, the question is how do i know that he used this method when the thread name is even far different from the method, u know i cant read all the thread on FF and none of is thread listed law of chart, yes i agreed it is similar and i have search for this method in this forum for a while now ...thanks for introducing the thread to me..
yes u can make more pips with tight sl on 5min after u spot ur S+R
every reversal on bigger tf is a strong patern until it's violated like if u check this chart..
cheers and c ya...Don

hi first thank u it looks great i havet read it yet but looks intrested.....

i will read it and feedback u.

good luck my friend.

Here's why people need to get informed around not to be caught repeating same methods.
1-2-3 hooks is basically what Feb's teach in his threads.
Doesn't matter time frame, really works in all. Actually The system I(another Feb's excellent thread) is based on daily charts.

Your intentions are good buddy but this subject has been covered already and is really a hot thread.

thnx man....i agreed what u said...none of this method charts was post on other thread and this method remain in feb's thread so while i was searching i look for 1-2-3HL and law of chart on FF search i found none of this and i got tired...okay porkpie just introduce me to the thread and tell me how am i going to no this is the method when the name of the thread is The System II (with Irony)............it can just be his own develop system and i never check much on ff trading system but i searched for what i was looking for and did not find...
now tell me opening a thread that sound like the system and easy to find what u know the method name from the founder isn't that easy ?
Feb's thread is cool when i checked it out..
well anyone who have intention of it the attachment of the book is above ..cheers.....Don

@ porkie PM Feb's and ask him if his using law of chart by Joe ross.......check this and tell me if that count was wrong..

Hi Don, your chart show's the RH correctly (but if you are trading off the weekly you would need 1K pip stop loss!). Feb just uses the break of a no. 2 point not a RH. Feb's rules are that you have to have a 30-40 swing to define a new trend.

@porkie now u talking man feb's using it different while Joe ross is different....If i am wrong then what joe ross wrote was wrong in the book cus my friend that is making good pips with this saw this and took it..
yes we cant trade weekly but weekly tell u that after the brk of that RH we should go down again ...after a brk of first RH we should have pull back then trend continue....
i have read the book over and over and search for this method on ff before opening ...this is not my first thread but i decide to open it to introduce this to anyone interested...
cheers..

interesting 25th bar broke down....still learning but i could see when they play..
c ya guys

you want to see 123 setups with charts look at key to the mint

I'm very glad that you start this thread about Joe Ross Law Of Charts .
When i start learning about trading , one of the first book i read was DAYTRADING by Joe Ross , I recommend also TRADING IS A BUSINESS (you find practical tools for the management of your trade, risk, business, and yourself )
Keep up the excellent work !!!

lol

that is K. I. S. S.

Hello,
123..!!! using Ross Hook 123 or Feb's style 123 or the guy coming from moon 123.. its all nothing but a simple tool for entery!!!.. a test of the market to see what will happen.. if its anything more amazing than that about it then I am all ears bro.. lol

here is the thing my friend..
if you aint got a sound trade management inplace to compliment this then you got nothing.. sorry for being so blunt.. but this is about money.. you cant just leave poeple hanging out there with a simple 123 entery without a backup plan.

Now the difference between what you have introduced so far based on RH and the guy from moon verses feb is that.. feb has also introduced ways as to how to handel trades enteries when they go wrong !!!.. which is more than half the times..
so it brings me to the my question from you:
what you got inregardes to trade managment based on HR or your own experience for this thread?
If your gonna refer to some automated manuall thing that god knows when Ross put it out and for poeple to follow it, then its safe to say that its not gonna be flexible enough to make adjustments to when market goes through cycles.. which it occures very often.
If you ain't got any, then take the time to read the entire system II (with irony) 500+ pages and you might just underestand what that trade managments by feb means.


Thank you,

Instead of making complain, go futher whit the info. Anyone can start a Thread about a subject that will be complete by readers like you...


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Nice thread, i went trough some of this and will be happy to see some more!

take care all!

Lol i will not be using 1min bro ...i am using this method with 1hr-daily Trendline and 5min for my entry and trail most of my position....that is how to deal with it 1-2-3 in 1min is a Brain Job..lol...market dont talk nor tell where it's going we holy have knowledge abt current data we are receiving so i decide to keep it simple from now.....thanks for ur advice cheers

hehe my bro..Long time what have u been up to and how is my beloved country naija? take care and wish u the best..cheers don

Thank for checking out my thread bro...you should no rite that feb's method is a little bit different from what Joe Ross is doing, it might look similar but read the book and compare it to what his doing u shall give me prove..
the fact that i open the thread should give u more clue that this guy is not a newbie or u think i got vouch cus i was not making Good call..go Auslanco thread ask abt Don u will get many answers. i have prove this method from my friend, he trade only technical and make good calls to me which i could not even find out, he always tell me that market will go down and come back to pick his entry i always doubt it but in a twinkle of an eye price pull back and pick is entry i asked him how did u know this will happen, he lol and say it's law of chart, who will not ask what is law of charts ....so after back testing from him and i read the book and making Good calls i decide to make a research on few forum i found 1 but none in ff, feb's name is different from the method...
let just say it's new thread and more post is on the way the founder of this method will surely come in cus his also on this forum and i already seek for his support so more question can be answered in a proper way...
cheers..Don

Thankx Bro, u welcome to my thread.....i have been seeing your post on other thread i salut sir....Keep up the good work...cheers Don

I think the traders trink entry is superior with regards to trade management for the very reasons why you would enter before the Ross Hook. Take a look at the attachement.

The Ross Hook in this instance is used as a first target to cover costs of the trade with a third of the lot size. What often happens when price comes back to a RH level is that the RH will act as a level of resistance or support turning price around in the opposite direction. Sometimes price will break above the RH then quickly turn around triggering stops the other side of the RH trapping traders into a move.

By getting in earlier than the RH you give your trade full potential cover costs and may even make some profit by targeting the RH with part of your trade.

For example. If the trade does not go your way beyond the RH: 1 Lot into thirds= Part 1 - target RH. Part 2 - Breakeven. Part 3 - Original Stop or moved to half the original size.