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intraday trend trading with price action

  • #701
  • Feb 22, 2010 10:53am Feb 22, 2010 10:53am
Here goes another one
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-02-22_1151EURGBP.png Size: 29 KB
  • #702
  • Feb 22, 2010 10:56am Feb 22, 2010 10:56am
hey roper

deleate that little line before your user name. that was my problem
  • #703
  • Feb 22, 2010 10:58am Feb 22, 2010 10:58am
i am back guys .
made lots today trading stocks .
i traded mrvl, bmc.brcm,celg
and lots others
  • #704
  • Feb 22, 2010 11:02am Feb 22, 2010 11:02am
Quoting the novice
That was the question I asked Sho but did not get a clear answer.
When do you enter based on the close of the former bar, when do you enter based on the break of the former bar?
if it inside bar entry will be at the breakout.
if any other bar entry will be at the close of signal bar if signal bar is big wait for a retrace or dont enter.
is that clear now?
  • #705
  • Feb 22, 2010 11:07am Feb 22, 2010 11:07am
Quoting MJurban
not the bar but the closeline of the former bar. the top of the former bar is my stoploss line
Hi, we're all learning here. I don't think Sho has said that you can trade every cross of a close!! For me, a signal would have been given provided say the green bar had touched the mid k line, and closed below it.
Then you would have had a retrace, with a bar failing to go higher than the mid line in this case, meeting resistance and closing below it.

If I see a point of resistance/ support, then I could take a trade in the given direction if price crosses it. Same with a pb or inside bar.

Await the comments of the master!

Pardy
  • #706
  • Feb 22, 2010 11:08am Feb 22, 2010 11:08am
Quoting pj.waterloo
Hi Sho

Here is my long trade (daily tf) on E-J today taken at GMT 01:01.
How far down should I set the SL?
Pls. advise.

Thank you for your time.
hey pj
i will post yours charts tonight.always use stop loss is just under or above the signal bar.move the stop to break even when you will get profit same as stop loss then you will have zero risk.as trader always protect your capital.breakeven is a big winner.if you trade bigger time frame if signal bar is big wait for 5o% retrace and then enter.
  • #707
  • Feb 22, 2010 11:16am Feb 22, 2010 11:16am
Quoting trade price
i am back guys .
made lots today trading stocks .
i traded mrvl, bmc.brcm,celg
and lots others
Hi Sho,

I know a bit off-topic, but how do u select which stocks to trade. Reason I ask is that I think stocks are going to get very volatile in the next 2-3 months, its good to experience another market as well. Plus I'm curious as well!! lol.

Thanks for your tremendous help. I feel more and more confident.

Regards
Pardy
  • #708
  • Feb 22, 2010 11:16am Feb 22, 2010 11:16am
Quoting MJurban
im short again
entry was fine .
always move the stop to breakeven when you will have profit same as stop loss.
if you do get stoped out doesnot matter.nothing to lose.
all trade wont be 100% right thats why we have small stop loss.
even though we trade all day we will lose very small amount of pips.
because we move the stop to breakeven as soon as posible.

today while i was trading stocks,
17 times i did get stoped out in two hours and made lots of money today.
learn to love small loses it will help to become a better trader.
  • #709
  • Feb 22, 2010 11:20am Feb 22, 2010 11:20am
both market today are dead slow ...... . No trade!!http://cdn.forexfactory.com/images/icons/icon11.gif
  • #710
  • Edited 6:31pm Feb 22, 2010 11:21am | Edited 6:31pm
Quoting Pardy
Hi Sho,

I know a bit off-topic, but how do u select which stocks to trade. Reason I ask is that I think stocks are going to get very volatile in the next 2-3 months, its good to experience another market as well. Plus I'm curious as well!! lol.

Thanks for your tremendous help. I feel more and more confident.

Regards
Pardy
i use scanner to pic the stocks with lots of volume and active stocks.i like volatile stocks.i trade mostly nasdaq stocks.its very fast and moving market.you will lose money if you dont know how to trade.all the best trader trades the nasdaq.so very very carefull.
volatile is good for day trade.i love volatile market.
  • #711
  • Feb 22, 2010 11:21am Feb 22, 2010 11:21am
Quoting TheRoper
Attached are my Keltner settings.

Also haveing a problem logging on to the chat. I think it would be a great idea to have but keep getting this erroneous nickname error. Any suggestions?

Thanks

Kurt
Thanks for the settings Kurt. It looks like you have the same settings as me. Maybe the size of the channel is hard coded into our indicators?

Hope you managed to get into the chat room - no spaces or no-alpha characters allowed in names.

Dave
  • #712
  • Feb 22, 2010 11:22am Feb 22, 2010 11:22am
Quoting Buildcity
both market today are dead slow ...... . No trade!!http://cdn.forexfactory.com/images/icons/icon11.gif
when you see no trades dont force your self .
trust your eyes .and trade tommorow.
  • #713
  • Feb 22, 2010 11:25am Feb 22, 2010 11:25am
i am off again to see my one of friend.
keep helping each other.
make this thread your learning place(eventhough we are in the rooki section we are far ahead of any other thread in one month)
cya.
  • #714
  • Feb 22, 2010 11:27am Feb 22, 2010 11:27am
Quoting Sutts
If you check out the same trade on the EU chart posted by MJurban it looks like it follows Sho's rules - bottom channel line rejection. Different channel settings by the looks. What do you think?

I made a mistake here guys. I meant to say check out the same trade posted by TheRoper. That shows a nice channel line rejection but the K Channel settings are different to mine. Can others compare their charts against these 2 and see which channel we should be using please?
  • #715
  • Feb 22, 2010 11:28am Feb 22, 2010 11:28am
Thanks for coming by Sho. Glad you had a rewarding day.
  • #716
  • Feb 22, 2010 12:12pm Feb 22, 2010 12:12pm
Ropers chart is so different from mine I would be afraid to guess.
  • #717
  • Feb 22, 2010 12:12pm Feb 22, 2010 12:12pm
Quoting rtiger29
hey roper

deleate that little line before your user name. that was my problem
Just tried that and did the same thing. I am thinking it may be a security issue on my server.

Thanks for the help though
  • #718
  • Feb 22, 2010 12:18pm Feb 22, 2010 12:18pm
Roper, it took me 4 tries to get on.
  • #719
  • Feb 22, 2010 12:26pm Feb 22, 2010 12:26pm
Quoting Bankshot
Roper, it took me 4 tries to get on.

ah, may be due to high traffic. I will keep trying
  • #720
  • Feb 22, 2010 12:34pm Feb 22, 2010 12:34pm
Did you take the EJ short on the pull back awhile ago?
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