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intraday trend trading with price action

  • #361
  • Edited 10:18am Feb 13, 2010 7:43am | Edited 10:18am
Quoting trade price
yesterday night was great.i did enjoyed.
tommorrow night i have to spend all the money i made this week.(valentine)
Keeping the love ones happy pays off in the long run
  • #362
  • Feb 13, 2010 7:54am Feb 13, 2010 7:54am
Quoting trade price
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...
Just had my eyes opened. I see what is happening. I had been focusing on reactions off the keltner lines rather than reactions off previous resistance turning into support within the keltner channel. I think placing buy stops just above the old resistance area would be the lowest risk for sure with small stop just below. If stopped out, Reload and fire at the next lower level.

Sho, question, how far would you have let the price retrace in the last chart before you would have considered the long entries not valid?

You are correct as I would not have taken the long thinking it was about to change direction.
  • #363
  • Feb 13, 2010 9:18am Feb 13, 2010 9:18am
Quoting TheRoper
Just had my eyes opened. I see what is happening. I had been focusing on reactions off the keltner lines rather than reactions off previous resistance turning into support within the keltner channel. I think placing buy stops just above the old resistance area would be the lowest risk for sure with small stop just below. If stopped out, Reload and fire at the next lower level.

Sho, question, how far would you have let the price retrace in the last chart before you would have considered the long entries not valid?

You are correct as I would...
see the chart
all the bearish bar has got long
tail.
it means downside momentum is running out.
there was not any retrace on the upside as well.
and it failed to close below the previous low.
and see the momentum it was upside .
thats why i will count this move is a corrective move.
all the bar was rejection bars.
it was big money to take stops out .when they got there order filed. they did a big push up and took all the up side stops .thats why the move was big.there was so many traders on the trap.
and we knew that there was upside momentum.
because we know price action.(see all the bearish bar).
most people get scared after 2 loss in a row.they would not take the 3rd trade.even there methood tell them to enter they would not.because of the emotion.
as a trader you have to master every thing.
you have to follow your methood.
and you need a solid methood.
stick with the rule.it will pay you.
there was not any valid reson for me not to take that trade.
i will take all the trades because there was not valid downside momentum or any bearish price action.
pro play with the momentum.eventhough it took the 2 stop out still the last trade will pay you more than you lose.
for the stop i always use high or low of the signal bar.it does not matter swing high ,low or not.

sho
Attached Image (click to enlarge)
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  • #364
  • Feb 13, 2010 9:49am Feb 13, 2010 9:49am
Great thread Sho, really enjoying the content.

How many pips are you pulling in a month on average with your methods?
  • #365
  • Edited 2:01pm Feb 13, 2010 11:47am | Edited 2:01pm
[quote=trade price;3461785]see the chart

Sho, the area on the chart with the rejection bars(yellow square), would you enter after the break of the high of the 4th down bar with a stop below that same bar? Looks like some of the time you enter at the open of the next bar after signal bar others are after the break.

I see the significance of the tails now and how you can spot the big guns getting their orders filled (MOMENTUM).

The price action on the bars with the long tails does that represent 1) Big players selling smaller lots driving market down the the level they want to buy bigger lots or 2) Lack of buying by big players and the market dropping by the selling of amatures?
  • #366
  • Feb 13, 2010 1:21pm Feb 13, 2010 1:21pm
Another piece to the puzzle. I'm going to have to start taking notes.
  • #367
  • Feb 13, 2010 3:37pm Feb 13, 2010 3:37pm
Spent evening reading the thread from beginning. Some really great stuff in here and seems like a friendly place to hang out. will be here on monday for sure. better go now before the wife throws computer at my head!!!

oh, for those that struggle with posting charts look up 'jing' on google. download free software. its good and simple to use
  • #368
  • Feb 13, 2010 7:17pm Feb 13, 2010 7:17pm
Quoting iak
Spent evening reading the thread from beginning. Some really great stuff in here and seems like a friendly place to hang out. will be here on monday for sure. better go now before the wife throws computer at my head!!!

oh, for those that struggle with posting charts look up 'jing' on google. download free software. its good and simple to use
Hey iak,

Welcome and thinks for the Jing thing, downloaded and played with it a little while. Looks like my charts will be jing'in now
  • #369
  • Feb 13, 2010 8:52pm Feb 13, 2010 8:52pm
Hi Sho,

Take a look at the trade taken on Feb 2.
The momentum was apparently UP, and I thought I should look to only take a long entry, and entered long. But the result was a loser.

You would take a long entry at the same bar as I took, shown as Entry?
If so, you would cut loss when the price drops 1 pip below the signal bar?

Thank you for your patience and time, and enjoy your holiday!
Attached Image (click to enlarge)
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  • #370
  • Feb 14, 2010 2:50am Feb 14, 2010 2:50am
maybe you should wait to you see the trend better like wait for the keltner channel. the last bar looks like the best bar to trade on.


best regards
  • #371
  • Feb 14, 2010 3:13am Feb 14, 2010 3:13am
Quoting lazyFX
Hi Sho,

Take a look at the trade taken on Feb 2.
The momentum was apparently UP, and I thought I should look to only take a long entry, and entered long. But the result was a loser.

You would take a long entry at the same bar as I took, shown as Entry?
If so, you would cut loss when the price drops 1 pip below the signal bar?

Thank you for your patience and time, and enjoy your holiday!
with small loss.it is part of trading.
  • #372
  • Feb 14, 2010 3:32am Feb 14, 2010 3:32am
Hi Sho, you mentioned round numbers but do I don't see any pivots plotted on your charts. Do you use these or not?

Thanks
bringing order to chaos....
  • #373
  • Feb 14, 2010 4:25am Feb 14, 2010 4:25am
Quoting lazyFX
Hi Sho,

Take a look at the trade taken on Feb 2.
The momentum was apparently UP, and I thought I should look to only take a long entry, and entered long. But the result was a loser.

You would take a long entry at the same bar as I took, shown as Entry?
If so, you would cut loss when the price drops 1 pip below the signal bar?

Thank you for your patience and time, and enjoy your holiday!
Hi, I think your entry was too late, price already moved by over 35 pips. Trend was exhausted. Correct entry would have been after the 4th bar of the up move, which was a short bar ( small retrace), then you had an up bar which closed over the middle line of the keltner. This bar was therefore your signal to enter.
At the point you entered, i would have been waiting for a retrace. After the retrace, I would wait for re-entry signal, based on close of bar, if that was above a keltner line.

Sho can correct me if I'm wrong.
Pardy
  • #374
  • Feb 14, 2010 5:49am Feb 14, 2010 5:49am
Thank you guys for all the comments.

To Pardy:

I think you are right, and agree that my entry was too late on that trade,
but I think no one knows when the price starts running fast with little retracement even after it moved signifincantly.
It is vital to take a trade according to the set rules if all the entry conditions are met.
In that sense, I would like to know the entry point is valid or not, irrespective of winners or losers. But as you pointed out, if I had entered earlier at the point you mentioned, I would have made some profits.
Thanks again
  • #375
  • Feb 14, 2010 6:18am Feb 14, 2010 6:18am
a question for post 357 you say you lose 10 pips 2 times but then you win 40 pips and 70pips ? how do you get out of them winning trades i dont see you have a hard profit target because the first one is 40 and the second one is 70 pips and i dont see divergence ?


best regards
  • #376
  • Feb 14, 2010 7:43am Feb 14, 2010 7:43am
Quoting AlanOne
Hi Sho, you mentioned round numbers but do I don't see any pivots plotted on your charts. Do you use these or not?

Thanks
i think you woudnot mine if i comment.sho is enjoying with his girlfriend.(wife)
sho is a very good trader he doesnot need any lines.
he use his eyes.
he allways say to use the eyes to see the charts.IMHO
  • #377
  • Edited 5:52pm Feb 14, 2010 7:59am | Edited 5:52pm
Quoting jgadefelth
a question for post 357 you say you lose 10 pips 2 times but then you win 40 pips and 70pips ? how do you get out of them winning trades i dont see you have a hard profit target because the first one is 40 and the second one is 70 pips and i dont see divergence ?


best regards
hi
jga
IMHO. it was only for educational perpose .
he showed us what we can do with
perfect timing entry.
in one post he showed us few major rules.
1.when to enter
2.small stop loss
3.price action reading
4.money management.
he showed us even if we are wrong 60% of the time we can make money.
and more.

i think post #357 is one of the best post in the whole internet.
Thank you very much sho for this invaluable post. #357
  • #378
  • Feb 14, 2010 8:13am Feb 14, 2010 8:13am
Quoting lazyFX
Hi Sho,

Take a look at the trade taken on Feb 2.
The momentum was apparently UP, and I thought I should look to only take a long entry, and entered long. But the result was a loser.

You would take a long entry at the same bar as I took, shown as Entry?
If so, you would cut loss when the price drops 1 pip below the signal bar?

Thank you for your patience and time, and enjoy your holiday!
there was a pin on the 10ema bro
  • #379
  • Feb 14, 2010 8:47am Feb 14, 2010 8:47am
i have been looking for this kind of thread from long time.
i am glad .i have found it.
i will be a regular user of this thread.
many things i couldnot learn in years. now i have learned lots of things in this thread.

Thanks sho for your kindness.
  • #380
  • Feb 14, 2010 9:28am Feb 14, 2010 9:28am
Quoting Porkpie
Trade-price, you would do better to learn price action at James16 thread here at FF. Keltner channels do not provide support and resistance, you are misguided.

Regards
i hate people like you.you dont know how to help others.
and telling others how to trade.
you are here to sell the others systems. only people like you will say this thread is not helpfull.
for this reason i dont like most of the people with lots of vouches.(not all)
you call your self a good trader.

so many people lose money because too many people like you .
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