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snapshots from battlefield

  • #1
  • First Post: Edited Feb 12, 2010 10:18am Feb 7, 2010 11:12pm | Edited Feb 12, 2010 10:18am
  •  grav1ty
  • | Joined Jan 2010 | Status: decent MQL coder, really bad trader | 21 Posts
"A picture is worth a thousand words" - I'm kind of a visual guy, so there will be at least thousand words worth information on my every trading day.

"An expert is a man who has made all the mistakes, which can be made, in a very narrow field." - Niels Henrik David Bohr
That makes me very experienced trader. I want to work on my patience and discipline - those are areas where I still have some job to do. I want to limit my trades to 2-4 a day and be more picky about them.

I trade only EURUSD, intraday with SL ~30pips. Discretionary, using S/R theory with help of some inventions of my own.

Please, feel free to leave feedback

Down to business:

I'm not touching longs below 1.3700 and the scenario I'm interested in looks pretty much like this:
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  • #2
  • Feb 8, 2010 1:08am Feb 8, 2010 1:08am
what support/resistance indicator is that??

By the way, you've drawn (I presume that's you, maybe the indicator did that too) lines where there was the most price action. However the lines should be drawn where there is the LEAST price action. Then they'll show you the true edges of the different Price Pivot Zones.
  • #3
  • Feb 8, 2010 6:57am Feb 8, 2010 6:57am
  •  grav1ty
  • | Joined Jan 2010 | Status: decent MQL coder, really bad trader | 21 Posts
Quoting aicccia
what support/resistance indicator is that??
Hi aicccia, that's my implementation of Market Profile idea.

Quoting aicccia
By the way, you've drawn (I presume that's you, maybe the indicator did that too) lines where there was the most price action. However the lines should be drawn where there is the LEAST price action. Then they'll show you the true edges of the different Price Pivot Zones.
That's not always the case. Not in a strong trending market. I just made some nice pips trading against The Book:
http://img17.imageshack.us/img17/5961/hitha.jpg

And that's how trading bounces from MOST price action areas did work few days ago:
http://img11.imageshack.us/img11/3138/pastz.jpg

Easiest money ever! At least afterwards, on a drawing board .
  • #4
  • Feb 9, 2010 7:00am Feb 9, 2010 7:00am
  •  grav1ty
  • | Joined Jan 2010 | Status: decent MQL coder, really bad trader | 21 Posts
After market made new highs I was expecting the green area to provide some support. And it did! 1st trade closed at +50pips, 2nd left with SL few pips above BE as there's still a lot of upward potential.

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  • #5
  • Feb 9, 2010 11:14am Feb 9, 2010 11:14am
  •  grav1ty
  • | Joined Jan 2010 | Status: decent MQL coder, really bad trader | 21 Posts
SL@+5pips and a huge rally right after. Happens all the time . Looking for a nice S somewhere here.

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  • #6
  • Feb 9, 2010 11:58am Feb 9, 2010 11:58am
  •  grav1ty
  • | Joined Jan 2010 | Status: decent MQL coder, really bad trader | 21 Posts
Enough for today.

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  • #7
  • Feb 10, 2010 11:18am Feb 10, 2010 11:18am
  •  grav1ty
  • | Joined Jan 2010 | Status: decent MQL coder, really bad trader | 21 Posts
1st trade - short after bounce from this week's POC with target (and reverse) at last week's VAL. The 2nd didn't feel right, so I moved SL at BE and got stopped out right after. Too bad, this would've been +60 pips by now...

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  • #8
  • Feb 11, 2010 9:18am Feb 11, 2010 9:18am
  •  grav1ty
  • | Joined Jan 2010 | Status: decent MQL coder, really bad trader | 21 Posts
Some really bad trading that paid off.
1st short near yesterday's - I didn't move SL to b/e at +20 pips and got stopped out at -30. This happened near area where I was expecting some heavy selling to begin. So I reentered - a lot too soon, without any confirmation on lower timeframe and added another S 15pips above. +100pips for the day. Equity looks better than my trading style. Now I'm waiting for a retracement to 1.3720-ish..

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  • #9
  • Feb 11, 2010 7:05pm Feb 11, 2010 7:05pm
  •  grav1ty
  • | Joined Jan 2010 | Status: decent MQL coder, really bad trader | 21 Posts
It fell too far and too fast, my 1.3720-ish area(1) was unlikely. So I settled on a bit riskier but good looking Monday's VAH(2), just below double top. An epic entry SL moved to b/e.
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  • #10
  • Feb 11, 2010 10:41pm Feb 11, 2010 10:41pm
I assume the volume data is from Forex Futures? Or am I wrong?

Great insight, supports and resistances at highest volume are strong.
Life is a school for the soul
  • #11
  • Feb 11, 2010 10:56pm Feb 11, 2010 10:56pm
  •  grav1ty
  • | Joined Jan 2010 | Status: decent MQL coder, really bad trader | 21 Posts
Quoting esuffw
I assume the volume data is from Forex Futures? Or am I wrong?

Great insight, supports and resistances at highest volume are strong.
No volume at all. Just price occurrences multiplied by sessions' weight. I tried to incorporate ECN volume, but surprisingly, works better without it
  • #12
  • Feb 11, 2010 11:02pm Feb 11, 2010 11:02pm
Quoting grav1ty
No volume at all. Just price occurrences multiplied by sessions' weight. I tried to incorporate ECN volume, but surprisingly, works better without it
Way to go grav1ty. I just learned something new from you. Now you have given me days of workload to play with price occurrences.

Good trading
Life is a school for the soul
  • #13
  • Feb 12, 2010 8:39am Feb 12, 2010 8:39am
  •  grav1ty
  • | Joined Jan 2010 | Status: decent MQL coder, really bad trader | 21 Posts
Oh come on... I just wanted to lock 5pips profit... and that's when Murphy's Law re setting SL came in:

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I'm done for the week: +330 pips with largest DD on equity ~80pips.

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  • #14
  • Feb 14, 2010 11:52pm Feb 14, 2010 11:52pm
  •  grav1ty
  • | Joined Jan 2010 | Status: decent MQL coder, really bad trader | 21 Posts
Asians were trying, but couldn't push it over Friday's strong resistance area. Small short trade with TP above VAL level.
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  • #15
  • Feb 15, 2010 8:50pm Feb 15, 2010 8:50pm
  •  grav1ty
  • | Joined Jan 2010 | Status: decent MQL coder, really bad trader | 21 Posts
Got mentally stuck on shorts which led to unnecessary trades. Another "epic" SL added to my collection (accuracy 0.4 pip) - I'm getting better at this. +9 pips for the day, not that bad.

Time to switch midterm bias. [email protected] with SL few pips above entry and [email protected]

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  • #16
  • Feb 16, 2010 2:13am Feb 16, 2010 2:13am
  •  grav1ty
  • | Joined Jan 2010 | Status: decent MQL coder, really bad trader | 21 Posts
Nice one! Now let's wait for a pullback.

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  • #17
  • Feb 16, 2010 9:08pm Feb 16, 2010 9:08pm
  •  grav1ty
  • | Joined Jan 2010 | Status: decent MQL coder, really bad trader | 21 Posts
2 more Longs from yesterday: +17 and +33 pips.

Last week's VAH seemed like a nice resistance. Doesn't seem so nice anymore, I'm not adding anything to my short.

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  • #18
  • Edited 9:35pm Feb 16, 2010 9:25pm | Edited 9:35pm
not market profile without volume... just price accumulation

but good charts

how come u dont use the long term accumulation vrs. the time accumulation
  • #19
  • Last Post: Feb 17, 2010 4:54am Feb 17, 2010 4:54am
  •  grav1ty
  • | Joined Jan 2010 | Status: decent MQL coder, really bad trader | 21 Posts
Quoting domino
not market profile without volume... just price accumulation

but good charts

how come u dont use the long term accumulation vrs. the time accumulation
Volume has nothing to do with Steidlmayer's original idea. And I don't think it would be any improvement in OTC market.

I do my own research and use only those parts that I find useful. Most important are shapes and location of few past profiles - they indicate trend's condition(or lack of one), then levels - POC VAL and VAH - they make good entry points.

As for my trade - this short wasn't such a bad idea after all. 2 + 42pips + one trade left open.
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