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intraday trend trading with price action

  • #461
  • Edited 11:28pm Feb 16, 2010 11:00pm | Edited 11:28pm
Quoting Bankshot
Good move pa. I probably have been scared out of the trade by now.
Just have to follow the trading plan, sticking to 2:1 unless I see otherwise. Either take the loss or take a profit. No fear trading ... well not much anyway!
  • #462
  • Feb 17, 2010 3:14am Feb 17, 2010 3:14am
Sho i think you missed my post 451 so whe you got the time.



best regards
  • #463
  • Feb 17, 2010 5:07am Feb 17, 2010 5:07am
Do you think this way of trading could be sucessfully done on 5 min charts? I find whatever method i use i always like to trail on the 5 min. I will experiment today and get some charts up if poss.
  • #464
  • Feb 17, 2010 6:21am Feb 17, 2010 6:21am
Quoting iak
Do you think this way of trading could be sucessfully done on 5 min charts? I find whatever method i use i always like to trail on the 5 min. I will experiment today and get some charts up if poss.
same here,
i used to trade the m5 charts a lot, i want to trade from larger TFs like H1 or H4 but its almost impossible for me cause i always fall back to the M5, lower risk and different trade management.
i dont know if its OK to watch the m15 or h1 for direction, momentum ... and manage the trade from the m5.
  • #465
  • Feb 17, 2010 6:32am Feb 17, 2010 6:32am
ok, in a trade and at BE

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  • #466
  • Feb 17, 2010 6:33am Feb 17, 2010 6:33am
Quoting jgadefelth
hmmmm ok Sho if i understand you right we shall as beginners aim for a fast target of pips if our stopploss is under the low of our signal bar and we enter at the close of that bar and the distance between the close and the low is 20 pips we shall aim for a profit target of 40 -60 pips. Not so mutch other clues to when we shall go out as this when we are beginners ?


best regards
yes you have to aim for double or more than that.
if signal bar is too big wait for 50% retrace.othewise dont take the trade.
see my post #459 where i showed the entry.
see my risk reward ratio you can easily get 3:1 if you enter at the correct time.
if signal bar is large there is more chance you wouldnot get the big profit.
  • #467
  • Feb 17, 2010 6:41am Feb 17, 2010 6:41am
Quoting MJurban
same here,
i used to trade the m5 charts a lot, i want to trade from larger TFs like H1 or H4 but its almost impossible for me cause i always fall back to the M5, lower risk and different trade management.
i dont know if its OK to watch the m15 or h1 for direction, momentum ... and manage the trade from the m5.
yes you can do that.but you will miss some good trades as well.
because one will show you entry another will show you not to enter.
it is very good to trade multiple time frame for trading.but very hard to follow the methood and you will lost the track.
sho
  • #468
  • Feb 17, 2010 6:44am Feb 17, 2010 6:44am
Quoting trade price
yes you can do that.but you will miss some good trades as well.
because one will show you entry another will show you not to enter.
it is very good to trade multiple time frame for trading.but very hard to follow the methood and you will lost the track.
sho
My 5min trade failed. when ilooked at 15 min chart it would have been a good entry short. perhaps i should learn Sho method before messing about lol!!!
  • #469
  • Feb 17, 2010 6:45am Feb 17, 2010 6:45am
entry was bit late but not too bad
stop is now BE(just above)
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  • #470
  • Feb 17, 2010 6:57am Feb 17, 2010 6:57am
read my post #467 first then look at this chart
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  • #471
  • Feb 17, 2010 7:13am Feb 17, 2010 7:13am
eventhough i made money i am felling guilty because
i entered late .
my stop loss was bigger.
i chased the market.
entry was late thats why lost few pips.

do you understand how important to follow the rule.
as a trader if you dont follow the rule.even if you make money you should feel guilty.next time dont do that.
remember this trade was a lesson for you guys
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  • #472
  • Feb 17, 2010 7:16am Feb 17, 2010 7:16am
thanks for the answer,
On your last cart, can you please explain why this is the signal bar?
The one before could also be a signal bar or not?
Or do you wait if the bar you like to enter open higher or lower than the former bars close and then yuo decide : this is my signal bar?
  • #473
  • Feb 17, 2010 7:17am Feb 17, 2010 7:17am
Hi, could you let me know if i am a little late with this one. should i have got in start of previous bar?

Attached Image
  • #474
  • Feb 17, 2010 7:20am Feb 17, 2010 7:20am
ok i wanna see what you have learned so far.

post #470
can you tell me why i entered in this trade .(what do you see)?
  • #475
  • Feb 17, 2010 7:20am Feb 17, 2010 7:20am
i have to leave now, birthday party , c u all tomorrow, bye
  • #476
  • Feb 17, 2010 7:21am Feb 17, 2010 7:21am
Quoting iak
Do you think this way of trading could be sucessfully done on 5 min charts? I find whatever method i use i always like to trail on the 5 min. I will experiment today and get some charts up if poss.
Sure you can but more false signals, why take the stress?

I'm watching 5 min to see what the 15 min bar is made of but that's it.
  • #477
  • Feb 17, 2010 7:22am Feb 17, 2010 7:22am
Quoting trade price
ok i wanna see what you have learned so far.

post #470
can you tell me why i entered in this trade .(what do you see)?
price was in a down trend. retraced back up to middle keltner line but was rejected so you made a short entry on start of next bar
  • #478
  • Feb 17, 2010 7:23am Feb 17, 2010 7:23am
Quoting pa18
Sure you can but more false signals, why take the stress?

I'm watching 5 min to see what the 15 min bar is made of but that's it.
yes, i realise it pointless so gunna stop mucking around and learn sho method properly now. back to the 15min
  • #479
  • Feb 17, 2010 7:29am Feb 17, 2010 7:29am
Quoting iak
Hi, could you let me know if i am a little late with this one. should i have got in start of previous bar?
always risk first.
see the chart
is any one can see the chart?
Attached Image
  • #480
  • Feb 17, 2010 7:36am Feb 17, 2010 7:36am
Quoting iak
yes, i realise it pointless so gunna stop mucking around and learn sho method properly now. back to the 15min
i tried that longgggg time ago
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