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TraCop-1%

  • #461
  • Jan 20, 2010 9:28am Jan 20, 2010 9:28am
Hi,

I just saw that, you took Sell EU, Buy EJ and GJ. Was this hedging strategy...

I remember you were telling that, EU and EJ usually moves together. If they are moving together why we shud take opposite trades in them. Can you please explain.

Thanks,
Prakash
  • #462
  • Jan 20, 2010 1:45pm Jan 20, 2010 1:45pm
Quoting reachjj
Just couple of questions regarding this strategy. I have written few steps, please correct if I am wrong.

1. Look at D1, H4 and H1 to see the trend. If there is a clear trend then move to M5/M1 and look for EMA Cross or GannHiLo cross and take positions in that direction.
Here I have a question. Lets say the trend is long and on M5/M1 gannhilo cross happens for long, I take a position then within 1-2 candles, if it reverses should I close my position
Hello reachjj

Stay in the trade!

Quoting reachjj
Or since the major trend is long, I shud wait for some profit and may be I shud take some more positions when there is any pullbacks from any major support area on M5/M1 tf
Thanks,Prakash
I cope "TraCop" here in this way with several more market entries a priori.
One of these repetitive entries I let run and the other ones run strictly near term (short dated), may be 30 sec., may be 5 min or so (Look at next EMAs, Fibonacci, Pivots, Support, Resistance then on the next higher timeframe.

Quoting reachjj
(Or I shud look for such areas on higher tf)
Allways important and never to neglect!

Kindest regard

Forexcube
  • #463
  • Jan 20, 2010 1:47pm Jan 20, 2010 1:47pm
Quoting reachjj
2. Should look for major S/R areas (Pivots, EMA etc) on higher tf and then lower tf and then take a position on breakout of that in lower tf (or higher tf only?)
Thanks,
Prakash
At lower TFs if it run in the direction of the higher TF!

Kindest regard
  • #464
  • Jan 20, 2010 1:53pm Jan 20, 2010 1:53pm
Quoting reachjj
3. If there is no clear trend on higher tf (one bull, one bear candle alternatively for past 5-6 candles) then should look for scalping on M1 by taking positions only based on levels on M1 tf (pivots, ema etc)
Thanks,
Prakash

Level M1 and/or M5. Yes!

Taking into consideration that Forex market spends up to 50% time in non-trending, sideways state, the knowledge of how to deal with range-bound markets becomes vital.

Kindest regards
  • #465
  • Jan 20, 2010 1:59pm Jan 20, 2010 1:59pm
Quoting reachjj
...

Let me know, if I have to refine any of the above steps..

I know, all these comes by experiance but you advice is helpfull

Thanks,
Prakash
If you have time and will give an example about that how you would trade, you're invited to post your charts here on this threat (M1/M5) with the higher ones complete with entry and exit orders, may be with several Resistance and Support Lines, etc.

Kindest regards
  • #466
  • Jan 20, 2010 2:03pm Jan 20, 2010 2:03pm
Quoting reachjj
Hi,

I just saw that, you took Sell EU, Buy EJ and GJ. Was this hedging strategy...

I remember you were telling that, EU and EJ usually moves together. If they are moving together why we shud take opposite trades in them. Can you please explain.

Thanks,
Prakash
Could you give me the time and the ordernumber and the relating M1 chart copy, please.

Kindest reagards
  • #467
  • Jan 20, 2010 2:09pm Jan 20, 2010 2:09pm
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Open Day: 2010 January 19
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update:
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Deposit: 500.- $
Balance: 2'832.17
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Equity: 1'269.59
Closed Trade P/L: +2'332.17

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Attached File(s)
File Type: pdf TraCop-1%, 2010 January 20.pdf   85 KB | 300 downloads
  • #468
  • Edited 8:07am Jan 21, 2010 7:45am | Edited 8:07am
MTF - Evaluation - Homework

TraCop-1% needs multiple time frame analysis.

- Read this article from babypips.com "9th Grade: Multiple Time Frames", please:
http://www.babypips.com/school/which...d_i_trade.html

- Study the timeframes GBPCHF, M1, M5, M30, H1, H4, Daily, Weekly, Monthly down here (#469 - #477), please.

- Post your reflections here on board, please.

Find answers of following questions and much else.
- Which timeframe do I use/prefere?
- When and/or how often would I go in and out off the market?
- What Entry, Exit and Target Points should I prefere?
- Ask more questions yourself and try to give an answer.


Which Time Frame Should I Trade?

One of the main reasons traders don’t do well as they should is because they’re usually trading the wrong time frame for their personality. New traders will want to learn how to get rich quick so they’ll start trading small time frames like the 1-minute or 5-minute charts. Then they end up getting frustrated when they trade because it’s the wrong time frame for their personality.
Finally after a long period of time frame unfaithfulness, we felt we were most comfortable trading the 1-hour charts. This time frame is longer, but not too long, and trade signals were fewer, but not too few. We now have more time to analyze the market and didn’t feel rushed anymore.
On the other hand, we have a friend who could never, ever, trade in a 1-hour time frame. It would be way too slow for him and he’d probably think he was going to rot and die before he could get in a trade. He prefers trading a 10-minute chart. It still gives him enough time (but not too much) to make decisions based on his trading plan.
Another buddy of ours can’t figure out how we can trade a 1-hour chart because he thinks it’s too fast! He trades only daily, weekly, and monthly charts. His name is Warren Buffet. You might know him.

Okay, so you’re probably asking what the right time frame is for you. Well, buddy, if you had been paying attention, it depends on your personality. You have to feel comfortable with the time frame you’re trading in.
You’ll always feel some kind of pressure or sense of frustration when you’re in a trade because real money is involved. But you shouldn’t feel that the reason for the pressure is because things are happening so fast that you find it difficult to make decisions or so slowly that you get frustrated.
When we first started trading, we couldn’t stick to a time frame. We started with the 15-minute chart. Then the 5-minute chart. Then we tried the 1-hour chart, the daily chart, and 4-hour chart.
Trading time frames are usually categorized into three types:

 

  1. Long-term
  2. Short-term or swing
  3. Intraday or day-trading

Which one is better? It depends on....


see further:

http://www.babypips.com/school/which...d_i_trade.html




Time Frame Breakdowns

http://www.babypips.com/school/timef...reakdowns.html


’Long or Short?’

http://www.babypips.com/school/long_or_short.html


Summary of Multiple Time Frames

http://www.babypips.com/school/9th_grade_summary.html



Good Luck!

Forexcube

  • #469
  • Jan 21, 2010 7:47am Jan 21, 2010 7:47am
GBPCHF, Monthly, 2010 January 21
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  • #470
  • Jan 21, 2010 7:49am Jan 21, 2010 7:49am
GBPCHF, Weekly, 2010 January 21
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  • #471
  • Jan 21, 2010 7:50am Jan 21, 2010 7:50am
GBPCHF, Daily, 2010 January 21
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  • #472
  • Jan 21, 2010 7:51am Jan 21, 2010 7:51am
GBPCHF, H4, 2010 January 21
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  • #473
  • Jan 21, 2010 7:52am Jan 21, 2010 7:52am
GBPCHF, H1, 2010 January 21
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  • #474
  • Jan 21, 2010 7:52am Jan 21, 2010 7:52am
GBPCHF, M30, 2010 January 21
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  • #475
  • Jan 21, 2010 7:53am Jan 21, 2010 7:53am
GBPCHF, M15, 2010 January 21
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  • #476
  • Jan 21, 2010 7:54am Jan 21, 2010 7:54am
GBPCHF, M5, 2010 January 21
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  • #477
  • Jan 21, 2010 7:55am Jan 21, 2010 7:55am
GBPCHF, M1, 2010 January 21
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  • #478
  • Jan 21, 2010 8:08am Jan 21, 2010 8:08am
Can you please put your way of analysis for each of your above charts...so that it helps us in understanding about what you are thinking of those each chart....

and how you go about trading them...

Thanks,
Prakash
  • #479
  • Jan 21, 2010 8:48am Jan 21, 2010 8:48am
1. GC Monthly: A clear bull candle but its between lower trendline and an ema. There can be a pullback from EMA or a breakout of EMA which might result in a more bullish

2. GC Weekly: Slightly Bullish but its within the triangle formation which is required to be crossed (breakout) for bullish signal. If it cannot break the upper trendline, there can be pullback till lower trendline

3. GC Daily: There was a recent rally and its signalling for a small pullback till the EMA ( I think its EMA 120, not sure which one is that)

4. GC H4: Its between 2 EMAs, it can go in either direction. Not sure how do I analyse this. Need your help

5. GC H1: Again there can be a slight pullback till lower trend line

6: GC M30: Its above an EMA and looks like it can go up till it reaches one more resistance on M30

7. GC M15: Need to wait for EMA Cross for long or a pullback from top ema for short

8: GC M5: It had reached a resistance line and came back and formed a bull candle now. But doesnt looks like it goes up here. It might come down few pips till it gets some support from an EMA (green one)

9. GC M1: It can move up few pips and then will come back once it reaches the EMA at top. Need to wait till that point to see if it goes up or comes down.

In My view, it more looks like, it comes down some few pips before it actually moves up. So we can wait till it crosses or pullsback from that EMA on M1 chart to either enter long or short.

Please let me know your views about the above charts.

Thanks,
Prakash
  • #480
  • Jan 22, 2010 1:51am Jan 22, 2010 1:51am
Quoting reachjj
1. GC Monthly: A clear bull candle but its between lower trendline and an ema. There can be a pullback from EMA or a breakout of EMA which might result in a more bullish
Good interpretation.

Quoting reachjj
2. GC Weekly: Slightly Bullish but its within the triangle formation which is required to be crossed (breakout) for bullish signal. If it cannot break the upper trendline, there can be pullback till lower trendline
Yes, so we'll wait and have to monitor if weekly candle will close above EMA9 and EMA20.

Quoting reachjj
3. GC Daily: There was a recent rally and its signalling for a small pullback till the EMA ( I think its EMA 120, not sure which one is that)
It's EMA55!

Quoting reachjj
4. GC H4: Its between 2 EMAs, it can go in either direction. Not sure how do I analyse this. Need your help
The candle is at Resistance Line from 2009 December 16. May be it turns down (then range bound market). This signalize watching smaller timeframes (e.g. M30) for possible breakout and if so with Enter Long, might be better trade M5 before then.

Quoting reachjj
5. GC H1: Again there can be a slight pullback till lower trend line
Sure, and if candle will Mouteki Line (red line) broken downwards, a good possible entry short at M5 could appear.

Quoting reachjj
6: GC M30: Its above an EMA and looks like it can go up till it reaches one more resistance on M30
M30 shows the same picture as H1 with one difference could candle broke the MA55 Line? So it could be better to wait and monitor smaller timeframes.

Quoting reachjj
7. GC M15: Need to wait for EMA Cross for long or a pullback from top ema for short
All right!

Quoting reachjj
8: GC M5: It had reached a resistance line and came back and formed a bull candle now. But doesnt looks like it goes up here. It might come down few pips till it gets some support from an EMA (green one)
Very good! M5 shows nearly the same picture as H4. Upper point is reached so we've to monitor next market movements.
Quoting reachjj
9. GC M1: It can move up few pips and then will come back once it reaches the EMA at top. Need to wait till that point to see if it goes up or comes down.
EMA55 Line move nearly parallel, so market seems to be indifferent for short time where it'll going on.

Quoting reachjj
In My view, it more looks like, it comes down some few pips before it actually moves up. So we can wait till it crosses or pullsback from that EMA on M1 chart to either enter long or short.
TraCop doesn't make statements in the fooreseeable future. Might be, might be not!

Quoting reachjj
Please let me know your views about the above charts.

You're wellcome!

Thanks,
Prakash
Hello reachjj

Thank you for sharing your ideas with other traders and your good interpretation.

Forexcube
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