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Trading with Deadly Accuracy

  • #521
  • Jan 17, 2010 9:36pm Jan 17, 2010 9:36pm
thank you WMU for this thread.
exited a trade on fri. Eu while browsing post21
will study this stradegy more closely
  • #522
  • Jan 22, 2010 11:18am Jan 22, 2010 11:18am
I've been away for a little while so haven't had the chance to post. Thanks for your pm's and support. All is well.

Heres a little something to try and relight the fire.... it may mean something, it may mean nothing at all.

The first chart is from GU from a few months ago. Note the similarities in rise and fall to the second chart.

And the second chart is....
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  • #523
  • Jan 23, 2010 12:53am Jan 23, 2010 12:53am
Hi all,

Is there any body watching the Daily USDCHF other than me right now?

If I'm reading this properly it is soon going to be a GREAT RNR trade
I'd post the chart here but I am too new here to do so. I just found FF but I'll be around for awhile with this kind of information and community.
WooHoo!

LOVE this thread keep it comming

THANKS WMD !!!!!!
  • #524
  • Jan 25, 2010 4:08am Jan 25, 2010 4:08am
Double bottom on usd/cad could be the beginning of a move back to 115.
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  • #525
  • Jan 25, 2010 5:07am Jan 25, 2010 5:07am
Quoting TrooperCoope
I personally would not consider it as a specific entry / exit rule. This technique can give you a bias when price reaches certain levels. Consider it as a tool and combine it with others. Look for confluence with Fib lines, pivots etc. and most importantly: watch how price reacts at these levels.

Get the brake out zones from higher timeframes. When price gets back to these areas, zoom in on lower time frames and watch for a possible trend reversal. Are you getting higher highs and higher lows for an uptrend? Or vice versa for a downtrend? If...
Good post
every Saint has a past. Every Sinner has a Future
  • #526
  • Edited 6:36am Jan 26, 2010 6:18am | Edited 6:36am
what do you think about that? was it a good entry? i'm not quite sure :/

to explain what I was thinking:

in the red circle there's a new high. i saw this as a confirmation for an beginning uptrend. the target is the red line, because there's an untested resistance in this area. stop loss is below the lowest low because if price goes under it I expect it to fall even deeper instead of going up.
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  • #527
  • Jan 26, 2010 9:19am Jan 26, 2010 9:19am
Not so sure i'd be chasing that long unless it came of a lower tl.

I'd be more interested in the short if the price reaches there.

As a general rule, if the price rises, expect it to rise a little more. If it falls, expect it to fall a little more. Trade the pullback. If you're going counter trend, then trade smaller lots and be prepared to kill it if it doesn't meet your expectations within a set time. If you have trouble defining trend, draw some trendlines and only trade in that direction.
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  • #528
  • Jan 26, 2010 1:22pm Jan 26, 2010 1:22pm
Quoting uptrend
what do you think about that? was it a good entry? i'm not quite sure :/
If I can say something, I would wait for higher low first, then I like setup, as it happens often, that price shadows back such a sharp moves. If there was no very strong trend on 30 or sth I would trade half TP where you placed it and other half where this massive plunge started.

I'm not profitable trader yet, but this is setup I see many times...
  • #529
  • Feb 10, 2010 3:04am Feb 10, 2010 3:04am
Its a pity this thread isnt more active...I've been busy with other work so haven't been actively trading...some real gems here...
  • #530
  • Feb 10, 2010 4:51pm Feb 10, 2010 4:51pm
Quoting redart007
Its a pity this thread isnt more active...I've been busy with other work so haven't been actively trading...some real gems here...
It really is too bad. Lots of good, valid info e.g. the use of the untested breakout:

Quoting wmd
When we have a breakout of the resistance level the price will initially accelarate away from it very quickly.

Once the price has accelarated away, many orders are placed at this level in anticipation of resistance turning in to support.
Maybe we can bump start it again!
  • #531
  • Feb 10, 2010 4:55pm Feb 10, 2010 4:55pm
I too have this entire thread printed out and it always sits in the arm of my chair. I try and keep my out for opportunities but they just don't come up too often it seems.

Thank you again to WMD though for making us aware of this method!

Donnie
  • #532
  • Feb 10, 2010 8:32pm Feb 10, 2010 8:32pm
Quoting uraceulose
I too have this entire thread printed out and it always sits in the arm of my chair. I try and keep my out for opportunities but they just don't come up too often it seems.

Thank you again to WMD though for making us aware of this method!

Donnie
This is a great thread if you want to learn to trade , just stumbled across it. I have spent 1000s of hours watching these mkts , addicted to them as WMD is lol. WMD has a great method here and I say method because that is what it is. Most places you go you hear of systems, this sytem that system etc etc . Unfortunatly unless it is a controlled enviroment systems fail because the market is far from a controlled enviroment lol a method as WMD s adjusts for things in the market by picking out the patterns that repeat over and over. I have a little different terminology for some of the patterns but they are the same as WMD has been explaining and showing. Uraceulose I can tell you from experience the opportunitys are there something that helped me in my early days to find them was this , get a demo acct and when you have time to trade pick a pair gbpusd is a good one and sit down and put a trade on buy, sell it dont matter, then you defend that trade, add to it if it goes in your direction or hedge against it if it goes against you learn to keep that posistion positive , go thru the physical motion of using your platform buying and selling to keep that in the money. You will start picking out the patterns that WMD is explaining and seeing things that will make you a trader.
Watching a market going up and down it takes a long long time for things to stick out, easy to see after the fact but getting in there and defending a trade to keep it profitable just the physical action of doing that you learn to see and become proactive to the markets instead of reacting. Just some thoughts and things that have helped me, everyone see s things a little different but as in anything practice makes you better and you will pick up on things that help you and that is what matters in your bank account. WMD edit what you want it is your thread
  • #533
  • Feb 11, 2010 1:43am Feb 11, 2010 1:43am
Good posts, guys!

This is too good of a thread to let go.

I'm going to try and jump in and make my tiny input.

I hope that others will continue to do so as well!

http://www.mysmiley.net/imgs/smile/love/love0028.gif
  • #534
  • Feb 11, 2010 4:30am Feb 11, 2010 4:30am
Traders a chart to liven the thread up a little. This is a chart I use to give me that zoomed out look but short enough time span to give me some decent day trades. Along with the patterns that WMD has been explaining which you can pick a lot of them out on this chart I have incorparated some pivot levels. I also keep track of the weekly open and close and also the daily open , experience has taught me that most days those serve as the proverbial lines in the sand between buyers and sellers. The pivot levels I use are not your normal pivot levels. They are based on the open price and the previous days price action. They give a range for the day and price very seldom gets out of that range now the average range I use 180 pips for the gbpusd covers it for the most part, you end up with somewhat of a map for the up coming day , you have the outer edges of a range and the price patterns, keep trak of the range and you can pick some nice trades out. WMD if this conflicts with what you have been kind enough to try and show traders then remove it , Cheers all PS all, the gbpusd is about all I trade
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  • #535
  • Feb 12, 2010 10:54pm Feb 12, 2010 10:54pm
Something I traded earlier today before having found this thread! I was directed here by another trader and am thankful that I was. wmd, you seem like you know your stuff down pat brother. I'd love to see you guys posting up more of your charts and sharing ideas.

Anyways, 91.70 lows were never tested.
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I dream, therefore I become.
  • #536
  • Feb 13, 2010 12:58am Feb 13, 2010 12:58am
Mike,

Nice man, I went in to take a look and I have a limit order setup right there at the same spot. Makes me feel a little better to see a senior member like yourself seeing the same thing I do.
That's all take care and have a good weekend to all,

Donnie
  • #537
  • Feb 13, 2010 6:16pm Feb 13, 2010 6:16pm
wmd, thank you from the bottom of my heart for starting this thread and being humble enough to let porkpie gave out links on similar method to fortify what u started here.

i was half baked till a helpful member highlighted this beautiful thread and group of traders, trying to help each other, couple of weeks back. since then, i never lost a single cent trading...

what u shared with us here works, combined with a good mm, it's a sure winner.

just sharing what i traded on last friday.

- the best entry would be at the untested S/R
- the higher the TF is, the stronger the S/R is.
- the higher time frame you use the higher probability of success you have.


http://img710.imageshack.us/img710/9130/23708277.gif

thanx again,
azlan1
  • #538
  • Feb 14, 2010 4:25pm Feb 14, 2010 4:25pm
Quoting mike w
Something I traded earlier today before having found this thread! I was directed here by another trader and am thankful that I was. wmd, you seem like you know your stuff down pat brother. I'd love to see you guys posting up more of your charts and sharing ideas.

Anyways, 91.70 lows were never tested.
hey guys, new to this thread & most say this is a very cool thread...cnt stress it enough, love the low risk high reward this method holds
hope u guys dnt mind if i jump in with a couple charts to show u guys what im looking at presently so we cld all learn together.....
cheers
1st chart
audusd 4hr chart
was also watching that level as well but wanted price to get to .8726 area where i hav fib + ppz+ tl confluence
hey Mike, quick ? if u dnt mind ...... was that a limit order u used and where was ur stop .....
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Simplicity is the key to success
  • #539
  • Feb 14, 2010 4:38pm Feb 14, 2010 4:38pm
well, here are a couple im watching(got some more though but these will do for now) ......they are all on demo by the way
let me know what u guys think about them
cheers guys
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Simplicity is the key to success
  • #540
  • Feb 15, 2010 4:34am Feb 15, 2010 4:34am
Quoting digger1
Traders a chart to liven the thread up a little. This is a chart I use to give me that zoomed out look but short enough time span to give me some decent day trades. Along with the patterns that WMD has been explaining which you can pick a lot of them out on this chart I have incorparated some pivot levels. I also keep track of the weekly open and close and also the daily open , experience has taught me that most days those serve as the proverbial lines in the sand between buyers and sellers. The pivot levels I use are not your normal pivot levels....
Hi Digger,

Your chart looks interesting to me. If possible i would also learn somethong of your method . Could you tell me which indicators you use for setting up the chart.

Thanks in advance.

Regards Peter
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