Trading with Deadly Accuracy | Page 13 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Time action momentum trading 90%+ accuracy 0 replies

Acceptable Accuracy Ratio for Profitable trading 29 replies

Trading with Coinflip Accuracy!! 29 replies

historical data accuracy puzzlement. 1 reply

accuracy problems or stable market 0 replies

Attachments: Trading with Deadly Accuracy
Exit Attachments

Trading with Deadly Accuracy

  • #241
  • Nov 26, 2009 10:12am Nov 26, 2009 10:12am
Quoting bobowang
hi, wmd,
...
I just want to know, how many years have you traded using this method? are you rich now???
I really want to learn some good strategies from a trader who is already successful and rich.

Another thing I want to metion is, it's true that a lot of buying orders are putting on the untested support level...but this only can ensure there is a small bounce on this level, these orders can not ensure the trend will continue to go up. If a up trend want to continue, big players should continue to buy at different...
I've had about 50-50 success with this technique bobowang...no better than a coin toss! I think everyone here, if they have ever traded live, holds their breath everytime they initiate a trade. Draw S/R lines and Trend lines on whatever time frame appeals to you, and you stand just as good a chance of winning as the next guy.

Look for setups that everyone else can see too...those are the ones that will usually win...provided some meany at one of the big banks doesn't set out to give us all a "bad haircut"...just for giggles, of course!
  • #242
  • Nov 26, 2009 10:25am Nov 26, 2009 10:25am
pls keep me updated
  • #243
  • Edited Nov 27, 2009 7:33am Nov 26, 2009 10:26am | Edited Nov 27, 2009 7:33am
Quoting oromek
hi wmd

What you think about current EU chart? we have here resistance that turns to support.
regards
Thought I'd offer my 2 pips worth here. Testing of levels is going on now but level is not know for sure, and must not forget the move north might be a head fake/false break out. Volume is pretty thin so who knows who is pushing this thing around. Pretty good base established at 1.4812 and the market may try to square to that level over the next day or so (or it may find support at one of these levels and resume speed north).
Attached Image (click to enlarge)
Click to Enlarge Name: eur.gif Size: 37 KB


EDIT: .4812 was a bit too far and it looks like 4828 is about right for that base. sorry about that.
  • #244
  • Nov 26, 2009 11:12am Nov 26, 2009 11:12am
Hello everebody,

I would like to post my first trades following this kind of trading:

The RED circle was a short entry which was the first trade, 1.50950 I took this trade because of the breakout south at the same price. Position closed at 1.5000

The both blue circles are long entries aiming 1.51. I moved SL in the one that I entered at 1.4960 to 1.4970 and I´m letting it run. I´ll do the same with the other one as soon as I´m in profit.

Comments, opinions and or suggestions are very welcome.

Red.

Analysis for this trades was made yesterday seehttp://www.forexfactory.com/showpost...&postcount=204
Attached Image
  • #245
  • Nov 26, 2009 11:14am Nov 26, 2009 11:14am
Take a look at this...on the EUR/USD daily...that's a pretty big "head fake"!!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf.gif Size: 15 KB
  • #246
  • Nov 26, 2009 4:10pm Nov 26, 2009 4:10pm
Quoting tenthman
I've had about 50-50 success with this technique bobowang...no better than a coin toss! I think everyone here, if they have ever traded live, holds their breath everytime they initiate a trade. Draw S/R lines and Trend lines on whatever time frame appeals to you, and you stand just as good a chance of winning as the next guy.

Look for setups that everyone else can see too...those are the ones that will usually win...provided some meany at one of the big banks doesn't set out to give us all a "bad haircut"...just for giggles, of course!
A few interesting things here. Firstly, as wmd has already stated these levels have greater probability of success on the higher time frames. See the bigger picture.

If you are 'holding your breath' then you are already a losing trader. Trading scared is a losers strategy.

Finally, 50:50, you might not be using enough discretion imo. And if you are getting 50:50 (over whatever period) then you'll only be making money if you have a good Money Management strategy. Saying "its nothing more than a coin toss" is absolutely meaningless. Not digging at you tenthman just making clear the relevance of your statement and putting it into context (and because there is nothing decent on the box...).
  • #247
  • Nov 26, 2009 4:24pm Nov 26, 2009 4:24pm
Quoting redart007
I thought the reverse was the case i.e that most charts show Sunday data...DBZ's charts don't...
I am in Australia using an Australian broker. Markets open Monday morning and close saturday morning for us. I suppose that is why my charts dont show a sunday candle.

Great thread, looking forward to participating in this one.
...20% method, 80% mindset...
  • #248
  • Nov 26, 2009 4:50pm Nov 26, 2009 4:50pm
(This is not a trade recomendation)
Attached Image (click to enlarge)
Click to Enlarge Name: eugc2611.gif Size: 33 KB
  • #249
  • Nov 26, 2009 4:56pm Nov 26, 2009 4:56pm
Quoting Porkpie
A few interesting things here. Firstly, as wmd has already stated these levels have greater probability of success on the higher time frames. See the bigger picture.

If you are 'holding your breath' then you are already a losing trader. Trading scared is a losers strategy.

Finally, 50:50, you might not be using enough discretion imo. And if you are getting 50:50 (over whatever period) then you'll only be making money if you have a good Money Management strategy. Saying "its nothing more than a coin toss" is absolutely meaningless. Not digging...

I'd like to add (take it for what its worth, I'm not a pro) that the market also respects percentages. I use fibs as a way of judging the strength of a level. A 61.8 or 76.4 fib is not just a magic line on a chart, its also the percentage of the last move (best on three wave counts) and gives you an idea of when selling or buying may be exhausted. I'm not trying to pollute wmd's work, but simply buying every retest of a previous level should have less than a 50-50 shot. I believe thats the reason he trades longer time frames, looks for a hook and looks for the origin of the move. I guess we all need to find a filter. My filter is still the fib and trend.
  • #250
  • Edited 8:08pm Nov 26, 2009 5:14pm | Edited 8:08pm
example: just to point out why I ignore levels in the middle. GBP daily---I'm not saying it will head here but if it does I'm a buyer.

Attached Image (click to enlarge)
Click to Enlarge Name: Picture 111.png Size: 39 KB
  • #251
  • Nov 26, 2009 8:02pm Nov 26, 2009 8:02pm
Quoting tenthman
Take a look at this...on the EUR/USD daily...that's a pretty big "head fake"!!
Hi tenthman, the head fake would be the last two candles on your chart that make the break. Was not referring to the trend on the day chart. Sorry if I was not clear.
  • #252
  • Nov 26, 2009 8:03pm Nov 26, 2009 8:03pm
Quoting wmd
(This is not a trade recomendation)
Hey wmd, my thoughts exactly.
  • #253
  • Nov 26, 2009 9:18pm Nov 26, 2009 9:18pm
Quoting GEfx
Hey wmd, my thoughts exactly.

Let see what happens.

Check out post 169. Pattern formed on geppy hourly which was on cableswissy 15m tf 3 days earlier. Same pattern, same outcome.
  • #254
  • Nov 27, 2009 2:23am Nov 27, 2009 2:23am
I am going to lower time frame to find a entry and see if this retraces a little, 16400 area or so...

Attached Image (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 64 KB
  • #255
  • Nov 27, 2009 7:11am Nov 27, 2009 7:11am
Quoting wmd
nice ride hercs. i was sitting in the same train waiting for gravity to do its thing since yesterday.

you're welcome to share the indi. i think i've seen it before. harrybarry s&r or sr7? but as said, if you use it, handle with care. our entry zone is rarely the extreme. it may be more useful to find an indi that could box of the whole zone though. that would save a lot of Optrex.
================================================

Before downloading this indicator, please re-read WMD's note to me.

WMD, I would appreciate hearing from you as to whether we should can it all together or that we can use it as an adjunct to what we are doing.

Many thanks.
Attached File(s)
File Type: mq4 SR_Barry_Eli_MTF_ammended.mq4   7 KB | 977 downloads
Hercs
  • #256
  • Nov 27, 2009 7:38am Nov 27, 2009 7:38am
Missed this one, looking on lower tfs just seems like a typical down up day...what you guys think?
Attached Image (click to enlarge)
Click to Enlarge Name: GUWMD.jpg Size: 22 KB
  • #257
  • Nov 27, 2009 7:50am Nov 27, 2009 7:50am
Hi guys, posting this chart that is a classic "inverted heads and shoulder", can be profitable if noticed in time. No, I did not trade this, was not around.
Attached Image (click to enlarge)
Click to Enlarge Name: chart 1.gif Size: 24 KB
  • #258
  • Nov 27, 2009 8:24am Nov 27, 2009 8:24am
This chart on the E/U 15m is in a downtrend with a possible pennant forming, will wait for a breakout from this formation. Love breakouts from specific patterns.
Attached Image (click to enlarge)
Click to Enlarge Name: chart 2.gif Size: 22 KB
  • #259
  • Nov 27, 2009 8:24am Nov 27, 2009 8:24am
Quoting Hercs
Before downloading this indicator, please re-read WMD's note to me.

WMD, I would appreciate hearing from you as to whether we should can it all together or that we can use it as an adjunct to what we are doing.

Many thanks.
Hey Hercs,

I'm pleased that someone is finding my amendments to the original version (by Eli Hayun) useful. The only issue that I can see from using fractals with this method is that they need to be used with some minor discretions. e.g. If you were to enter a limit order at the fractal levels to the PIP rather than a market order at the ZONE, then you may find that your limit orders may not get hit.

Otherwise, I agree that fractals can be useful in this method of spotting resistances and support.

Slightly off topic, but I also have made further amendments to that indicator for options to draw a channel rather arrows and close prices rather than high/low (useful to see price progressions). PM me if you want it, so as not to clutter this thread.
  • #260
  • Nov 27, 2009 8:34am Nov 27, 2009 8:34am
Quoting Limstylz
Hey Hercs,

I'm pleased that someone is finding my amendments to the original version (by Eli Hayun) useful. The only issue that I can see from using fractals with this method is that they need to be used with some minor discretions. e.g. If you were to enter a limit order at the fractal levels to the PIP rather than a market order at the ZONE, then you may find that your limit orders may not get hit.

Otherwise, I agree that fractals can be useful in this method of spotting resistances and support.

Slightly off topic, but I also have made further...
Hey Limstylz,

Great to hear from you! Shows you what a great developer you are! "YES" I would love to have it. Problem is that I cannot send you a PM when I click on your name. I don't know the reason for that.
you may want to try my name here @ telkomsa.net if you don't mind.

Looking forward to hearing from you.

Best regards.
Hercs
1 trader viewing now