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intraday trend trading with price action

  • #341
  • Feb 12, 2010 9:33am Feb 12, 2010 9:33am
sorry i did not see the Sho's explanation
you are right SHO
  • #342
  • Feb 12, 2010 9:34am Feb 12, 2010 9:34am
Quoting francis2
Hi Trade price, I like the thread I trade the same myself but using the 1 min charts I just find the pullbacks easier to follow that way drawing trendlines under the pullback areas then waiting for break pullback then continuation
A question for you if I may, When looking for major support resistance areas do you use 1 hour or 4 hour timeframes then price low point or the closing price, for example now Ive got 1.3534 and 1.3523 and 1.3492 as the next areas for eur/usd
Also what criteria do you use for entry say now on eur/usd with it at the 1.3535...
I dont like to chase the market thats why i enter just before the trend resume.
if you can post a chart with your question it will be better .because i did not understand everything on your post

sho
  • #343
  • Feb 12, 2010 9:40am Feb 12, 2010 9:40am
cable daily
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  • #344
  • Feb 12, 2010 10:09am Feb 12, 2010 10:09am
Hi Sho, I've been following this thread since the beginning and it has been an eye opener for me: the pin bar, the trend and keltner all seem to do it jobs and gives you something solid to trade instead of second guessing, thank you for this method

I like to ask you a question that has always been bugging me, let's say a large group of 15 min traders see your method, they see the signal which is a pin bar hitting a keltner channel in a downtrend for example. The entries of these traders bring in selling pressure and price goes in your favor.

But could this info also be dangerous for us retail guys, i.e. the pros take our stops out going for a fat profit? Is this likely or impossible?

I don't want to stray from topic but since you're seem like a decent guy and a proper trader I thought I ask you.
  • #345
  • Feb 12, 2010 11:09am Feb 12, 2010 11:09am
hi sho
its my opinion about that setup.
i would be glad if you correct me SHO
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  • #346
  • Feb 12, 2010 11:28am Feb 12, 2010 11:28am
Quoting Victory83
hi sho
its my opinion about that setup.
i would be glad if you correct me SHO
nice question.
i know you want to learn.
i will post the same chart tonight with little surprise.

sho
  • #347
  • Feb 12, 2010 11:33am Feb 12, 2010 11:33am
I think Sho missed your first post and is now counting his pips, but I would like to try to answer your question. It is very unlikely that enough of us could jump on trade and cause much movement. In thinly traded stocks it is possible, Vector Vest a large stock picking service had to quit posting its entry picks because of the number of their members who followed suit, it didn't affect most of the stocks they were buying but a few of the smaller less traded companies. The currency market is so vast it would be next to impossible in my opinion to have that much participation. In addition we are trying to trade with the trend and with the big money, this makes us less of a target than those trying to swim up stream. Just my thoughts.
  • #348
  • Feb 12, 2010 11:33am Feb 12, 2010 11:33am
i am going out tonight for a meal.
i will post the same chart when i will be back.
thaks guys
see you later
sho
  • #349
  • Feb 12, 2010 12:04pm Feb 12, 2010 12:04pm
Trying to find how to post chart can someone point me in the right direction for details on how to do it thanks
Francis
  • #350
  • Feb 12, 2010 12:25pm Feb 12, 2010 12:25pm
Quoting francis2
Trying to find how to post chart can someone point me in the right direction for details on how to do it thanks
Francis
Hi Francis2,

While in your charting program, press the right mouse button and save the chart as an image. In the reply window press attachments, press the browse button, find the location you saved the file, select it and press upload, then press the submit reply button and your are done.
  • #351
  • Feb 12, 2010 12:49pm Feb 12, 2010 12:49pm
You're getting a workout on the subject aren't you Roper?
  • #352
  • Feb 12, 2010 2:01pm Feb 12, 2010 2:01pm
Thanks Roper, Ill give it a go
  • #353
  • Feb 12, 2010 2:32pm Feb 12, 2010 2:32pm
Heres the same style with the 1 min charts, I prefer them for the greater detail, at a glance the mas give you immediate trend status as you flick through the pairs and you can pick the best looking to trade, trend line is drawn as pullback is being formed then wait for break pullback then continuation, stochs set at 21.3.3 can also be used to get you in early into the move if you like with minimal drawdown as the price pulls back into the averages arrows show entry candle and ticks my exits
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  • #354
  • Feb 12, 2010 3:15pm Feb 12, 2010 3:15pm
Hi Francis2,
Nice looking chart and good (profit) trades.


HAY CHO, you been eating nearly 4 hours.
Time to come up for air.
  • #355
  • Feb 12, 2010 8:31pm Feb 12, 2010 8:31pm
Quoting Bankshot
You're getting a workout on the subject aren't you Roper?
  • #356
  • Feb 12, 2010 8:34pm Feb 12, 2010 8:34pm
Quoting Bankshot
Hi Francis2,
Nice looking chart and good (profit) trades.


HAY CHO, you been eating nearly 4 hours.
Time to come up for air.
Must have a hot date
  • #357
  • Feb 13, 2010 2:43am Feb 13, 2010 2:43am
Quoting Victory83
hi sho
its my opinion about that setup.
i would be glad if you correct me SHO
sorry it was late yesterday night.i tried but ff was offline.
but here you go.
see the chart.
after first trade if you made 20 pip i made 40.
2nd trade is a loss about 10 pip.
same with 3rd trade another 10 pip loss. alltogether 20 pip loss and 20 pip profit.
eventhough i was right less than 40% my profit is same as you 20 pip and you were right 100% your profit is 20 pip as well.

trade no 4.if both of us take the same trade my profit will be lot more than you with small stop loss.
because i will enter lot earlier than you .and see how big your stop loss will be.
now after 4 trades i was wrong 50% of the time still made more than you.
you were right 100% of the time because you took only two trades still you made less than me.
thats why trade management and money management is holly grail.
in trading you will lose .
in my first post i told you i do get stoped out so many times still make more money than other people.i love to get stoped out.its not about how many times you do get stoped out, its about how much you make.and how much you risk.
thats why timeing is every thing.professional doesnot care about how many times they get stoped out.they always trust the methood.and follow.
with less than 30% winning rate you can make enough.

happy trading
sho
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  • #358
  • Feb 13, 2010 2:56am Feb 13, 2010 2:56am
Quoting Bankshot
I think Sho missed your first post and is now counting his pips, but I would like to try to answer your question. It is very unlikely that enough of us could jump on trade and cause much movement. In thinly traded stocks it is possible, Vector Vest a large stock picking service had to quit posting its entry picks because of the number of their members who followed suit, it didn't affect most of the stocks they were buying but a few of the smaller less traded companies. The currency market is so vast it would be next to impossible in my opinion to...
nice explanation phill.
he is right ped.its hard for them because all the 15 min bar created by the all time frame traders.thats why we dont trade slow market.
we trade mostly london time for day trading. we are using institution for our profit we dont trade against them.we trade with momentum.
momentum is institutions order flow.
for the stock you can see there order flow in level 2 window.
thats why i use level2 and time and sales window for stock trading.
thats another subject.
hope this helps.

happy trading
sho
  • #359
  • Feb 13, 2010 3:02am Feb 13, 2010 3:02am
Quoting francis2
Heres the same style with the 1 min charts, I prefer them for the greater detail, at a glance the mas give you immediate trend status as you flick through the pairs and you can pick the best looking to trade, trend line is drawn as pullback is being formed then wait for break pullback then continuation, stochs set at 21.3.3 can also be used to get you in early into the move if you like with minimal drawdown as the price pulls back into the averages arrows show entry candle and ticks my exits
this is a diffrent methood.i tried long time ago.
in the long run lost the money.
i dont like birds eye view on the charts.
i like to see what is hapening right now on the chart.
i dont like 1 min charts as well .did tried does not work for me.
(IMHO)

if it works for you dont stop mate keep trading.
all the best.

sho
  • #360
  • Feb 13, 2010 3:07am Feb 13, 2010 3:07am
Quoting TheRoper
Must have a hot date
yesterday night was great.i did enjoyed.
tommorrow night i have to spend all the money i made this week.(valentine)
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