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intraday trend trading with price action

  • #601
  • Feb 21, 2010 2:51pm Feb 21, 2010 2:51pm
You're going off bout the time I get going. I have thought about getting up at 2AM EST which is 7 GMT I believe to catch the Frankfurt open. The best stuff seems to happen from then until the US has been open an hour or two. After 11 AM EST most days are flat. Try to keep as much going on here on this thread until it does get crouded. The more activity here the more it chaps the butts of the "elders".
  • #602
  • Feb 21, 2010 2:59pm Feb 21, 2010 2:59pm
Quoting Sim
good job, chat room would rock too

cornwall's lovely only been once and stayed in shaleighs as a kid... and saw stone henge
Cornwall only lovely out of season!!! Would be great if chat room set up and had Sho popping in and sorting us out from time to time. when you see shos charts you think oh yeah i get it. then on your own in real time its like hhhmmmm not too sure lol!! sure we will get there one day. think we on to summit here with sho. I followed 'the system 2 with irony' for a long time. great thread but found it too stressfull in the end. this seems like a much more sensible way to trade if i can crack it.
  • #603
  • Feb 21, 2010 3:07pm Feb 21, 2010 3:07pm
hey guys,

I'd be up for the chat room as well. And yes, I too am trying to work out the impulsive / corrective / impulsive? which is sometimes not so easy when u r looking at a developing chart!

I think once we can crack this in terms of better understanding, what Sho has shown us is pure gold.

btw, i'm in the uk as well, up north tho'.

Regards
Pardy
  • #604
  • Feb 21, 2010 3:30pm Feb 21, 2010 3:30pm
Quoting Bankshot
The impulse moves have usually happened in the direction of the the trend and corrective against.That part may be obvious but the triggers are hard for me to see too. This type of price action lends itself well to Elliott wave, fib retracement, 1,2,3 count ect.
Agreed Bankshot. I also like to use volume (tick vol in FX of course) to confirm corrective moves. When I'm watching a corrective move I'm looking for smaller bars, some with tails to show a reluctance to fall/rise. I'm also hoping to see volume fall off as it corrects. When I see a corrective bar with big volume that rivals that of the impulse move I start thinking twice about the "corrective" status of the current move.
  • #605
  • Feb 21, 2010 3:37pm Feb 21, 2010 3:37pm
Quoting Pardy
hey guys,

I'd be up for the chat room as well. And yes, I too am trying to work out the impulsive / corrective / impulsive? which is sometimes not so easy when u r looking at a developing chart!

I think once we can crack this in terms of better understanding, what Sho has shown us is pure gold.

btw, i'm in the uk as well, up north tho'.

Regards
Pardy
Hey, this is great. I think chat could work well and really help iron out the wrinkles in our implementation of the method. I was beginning to think that nobody really traded currencies in the UK. Certainly the chat rooms I've frequented in the past have been like the graveyard watch until the US guys come on board.

I'm in the grim North too Pardy - North Yorkshire area. Where are you based?
  • #606
  • Feb 21, 2010 3:41pm Feb 21, 2010 3:41pm
Volume spread analysis is one of the hardest things to get a handle on but I think ultimately one of the most important. One thing at a time though I suppose. May be Cho has some VSA lessons to bring out later.
  • #607
  • Feb 21, 2010 3:42pm Feb 21, 2010 3:42pm
Quoting Bankshot
You're going off bout the time I get going. I have thought about getting up at 2AM EST which is 7 GMT I believe to catch the Frankfurt open. The best stuff seems to happen from then until the US has been open an hour or two. After 11 AM EST most days are flat. Try to keep as much going on here on this thread until it does get crouded. The more activity here the more it chaps the butts of the "elders".
I agree we need to keep this thread humming too Bankshot. Not sure I could match your dedication with a 2AM start.

While I start at 06:30AM, I do find Frankies hour a little scary - big reversals around 07:00 - 07:45 which can really catch you out. Perhaps that is why Sho starts at 09:30!
  • #608
  • Feb 21, 2010 3:58pm Feb 21, 2010 3:58pm
I'm just deicated enough to think about it. Good weekend (remainder) to all and good luck in the morning.
  • #609
  • Feb 21, 2010 4:36pm Feb 21, 2010 4:36pm
I have been a silent admirer of your trades and one of the things which is always an issue for me is:

Do we wait for a confirmation of PA or we go ahead without confirmation
say we consider a rejection of middle line of channel which is 50% of fib of previous impulse wave and wait for the close of the candle the stop loss goes up high, Instead if I preempt and enter around 50% and just marginally see rejection at the time and enter the risk is low and stop loss if less.

What would you do wait for a candle confirmation with a increased stop loss or preempt and enter at 50% when you see a candle rejecting the middle line of the channel at the same time?, I always get confused and dont know what is the right way of professtional traders use? Go ahead and risk it or wait for confirmation with a greater stop losss?

Your reply is much appreciated as this can set my trading strategy better?
  • #610
  • Feb 21, 2010 4:46pm Feb 21, 2010 4:46pm
Quoting Bankshot
I'm just deicated enough to think about it. Good weekend (remainder) to all and good luck in the morning.
Catch up tomorrow Bankshot.
  • #611
  • Feb 21, 2010 4:52pm Feb 21, 2010 4:52pm
Quoting adler
I have been a silent admirer of your trades and one of the things which is always an issue for me is:

Do we wait for a confirmation of PA or we go ahead without confirmation
say we consider a rejection of middle line of channel...
I think Sho will wait for the bar to complete and if the stop is too large, wait for a partial retrace to get in with less risk. If it takes off without retracing then it's just a missed trade - plenty of others out there. Hope Sho can give you the definitive answer Adler....
  • #612
  • Feb 21, 2010 4:56pm Feb 21, 2010 4:56pm
Sho,

Would you be OK with us setting up a chat room to supplement your thread please? I think quite a few of us would find it a useful learning aid....

Thanks,

Dave
  • #613
  • Feb 21, 2010 5:19pm Feb 21, 2010 5:19pm
Quoting Sutts
Hey, this is great. I think chat could work well and really help iron out the wrinkles in our implementation of the method. I was beginning to think that nobody really traded currencies in the UK. Certainly the chat rooms I've frequented in the past have been like the graveyard watch until the US guys come on board.

I'm in the grim North too Pardy - North Yorkshire area. Where are you based?
Well, not too far from you, then. I'm in Durham. used to live in S Yorkshire, Donny some years ago!
  • #614
  • Feb 21, 2010 5:37pm Feb 21, 2010 5:37pm
Not too far at all Pardy. Hope we can all get some real time discussions going this week.

Catch you tomorrow guys....
  • #615
  • Feb 21, 2010 8:32pm Feb 21, 2010 8:32pm
Quoting Sutts
Thanks for the advice Sho.

Would you mind setting my mind straight on setup 10 and 12 on the attached chart please? Should I be cautious about taking a pin bar directly after a bearish bar like in these two cases? These kind of setups have been bothering me for some time. Should I just take them anyway if I can keep the risk small?

Thanks
if you like my words or not its up to you.but i have to tell you--
when you decide something if you want to be a good trader alway think all the charts and signals is happening realtime.dont cheat your self.

i am showing 10 and 11.
two most important trade and one A+++++ setup
trade no 12 is a a+ setup.

trade no 10 is a good setup.see the chart.
when we do trade realtime we dont know which one will be a winner and which one will be a loser.as a trader always be honest with yourself.
i am trader and i am always try to be honest.
i never miss this kind of trade.this is a A+ setup for me.
trade no 10 was breakeven for me see the chart why.

trade no 11 is a A+ setup for me thats a big winner.and
no 12 is a big winner.
i dont know which one will be a good winner thats why i always take all the trades as long as they meet my trading criteria.regardless of winner or loser.
Attached Image (click to enlarge)
Click to Enlarge Name: how many entryww.jpg Size: 96 KB
  • #616
  • Feb 21, 2010 8:39pm Feb 21, 2010 8:39pm
Quoting Sutts
I seem to remember when Sho was posting charts
well done sutts you can see hidden picture.
  • #617
  • Feb 21, 2010 8:45pm Feb 21, 2010 8:45pm
Quoting Bankshot
Volume spread analysis is one of the hardest things to get a handle on but I think ultimately one of the most important. One thing at a time though I suppose. May be Cho(its sho) has some VSA lessons to bring out later.
not good for forex.you gonna lose money.
i use v for stocks.
  • #618
  • Feb 21, 2010 8:51pm Feb 21, 2010 8:51pm
Quoting Pardy
hey guys,
I think once we can crack this in terms of better understanding, what Sho has shown us is pure gold.

Regards
Pardy
you will understand them slowly.read again and again.
it will change your life style.
  • #619
  • Feb 21, 2010 8:56pm Feb 21, 2010 8:56pm
Quoting Sutts
I think Sho will wait for the bar to complete and if the stop is too large, wait for a partial retrace to get in with less risk. If it takes off without retracing then it's just a missed trade - plenty of others out there. Hope Sho can give you the definitive answer Adler....
yes i dont chace the market.
if stop is bigger i dont trade.
i trade 15 min time frame.thats why too many opportunity.
if i miss a trade why bother.
trade like a robot man.
  • #620
  • Feb 21, 2010 9:10pm Feb 21, 2010 9:10pm
Quoting Sutts
Sho,

Would you be OK with us setting up a chat room to supplement your thread please? I think quite a few of us would find it a useful learning aid....

Thanks,

Dave
go for it.
dont wait for me.
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