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intraday trend trading with price action

  • #761
  • Feb 23, 2010 4:43am Feb 23, 2010 4:43am
The sad thing for me is that some of my best trades have been the result of me losing access or getting called away. I just close out too soon usually.

Glad the trade worked out. Best of luck with the PC - mine fried a few months back with a lightning strike down the cable!
  • #762
  • Feb 23, 2010 4:43am Feb 23, 2010 4:43am
now oanda also lost conection, at least i could manage to snap the chart
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  • #763
  • Feb 23, 2010 4:44am Feb 23, 2010 4:44am
Quoting Sim
very sideways man look at previous price action, just ignore the trades where you see a pin showing opposite pressure straight before the signal pin...it's like the charts are telling you you have 50/50 chance of getting outta the chop

sutts check pm
Sent you a reply Sim, but I can't see it in my sent box for some reason. Let me know if you don't receive anything.

Cheers
  • #764
  • Feb 23, 2010 4:46am Feb 23, 2010 4:46am
Did anyone catch this trade? I think it followed the rules but the stop was too large for me and it never retraced enough to get me in for less risk.
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  • #765
  • Feb 23, 2010 5:06am Feb 23, 2010 5:06am
Quoting Sutts
Did anyone catch this trade? I think it followed the rules but the stop was too large for me and it never retraced enough to get me in for less risk.

look at my post #349
i took that short, i think on the next bar with a stoploss only 4 or 5 pips

looks like we have very different datafeed?
  • #766
  • Feb 23, 2010 5:08am Feb 23, 2010 5:08am
Quoting tex123
Very nice Francis . You have a double top breach with a divergence on stoch with the trend. ,,or some would say at the edge of the bell curve.A+ in my opinon. Tex
Could you explain the double top breach please tex?
I can see a 2 bar double top and one with a fractal between (although one side is higher). Is the breach just failure of this with a bearish bar?

Thanks!
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  • #767
  • Feb 23, 2010 5:09am Feb 23, 2010 5:09am
Sutts, look to a lower timeframe if you like it could give you tighter s/l and better entry
  • #768
  • Feb 23, 2010 5:21am Feb 23, 2010 5:21am
Quoting francis2
Sutts, look to a lower timeframe if you like it could give you tighter s/l and better entry
I do like the 15 minute charts Francis and I've only just weaned myself off the 5 minute timeframe! I just wonder how Sho manages to trade with small risk on the 15m TF when I can't seem to get entries that run without risking 12-20+ pips.

I keep hearing people talking about 4-6 pip stops but I haven't had a single one of those yet. Must be doing something wrong.
  • #769
  • Feb 23, 2010 5:28am Feb 23, 2010 5:28am
I know what you mean, thats why I like M1 for entries combined with stoch at 21,3.3 can give you entries with very small s/l but use the M15 to show you the set ups I know for me if I enter when stoch is oversold there is a high likelihood of retrace
  • #770
  • Feb 23, 2010 5:30am Feb 23, 2010 5:30am
That previous chart of mine Sutts basically youre in a downtrend then the pullback hits previous support before dropping it happened twice in a row if you look, textbook stuff nice!!
  • #771
  • Feb 23, 2010 5:31am Feb 23, 2010 5:31am
Quoting francis2
I know what you mean, thats why I like M1 for entries combined with stoch at 21,3.3 can give you entries with very small s/l but use the M15 to show you the set ups I know for me if I enter when stoch is oversold there is a high likelihood of retrace
OK Francis, thanks for the advice. I'll keep my 15M chart for the setups and when I see one I'll enter on 1M.

Cheers,

Dave
  • #772
  • Feb 23, 2010 5:34am Feb 23, 2010 5:34am
Hey, dont take my word for it! it works for me and I dont want to distract from Sho,s method just might help
  • #773
  • Feb 23, 2010 5:35am Feb 23, 2010 5:35am
Quoting francis2
That previous chart of mine Sutts basically youre in a downtrend then the pullback hits previous support before dropping it happened twice in a row if you look, textbook stuff nice!!
Yes, very nice trades. Did you get in on the close of the red bar with the arrow or play the 1M chart for entry that time Francis?
  • #774
  • Feb 23, 2010 5:36am Feb 23, 2010 5:36am
Quoting francis2
Hey, dont take my word for it! it works for me and I dont want to distract from Sho,s method just might help
Anything is worth a try Francis. Sounds like a good way of achieving the smaller stops I'm after.

Thanks!
  • #775
  • Feb 23, 2010 5:37am Feb 23, 2010 5:37am
This is my trade Today target T1 is 123.03
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  • #776
  • Feb 23, 2010 5:43am Feb 23, 2010 5:43am
no what i did in that case was enter when price had pulled back to previous support and stoch was right at the top so basically I picked the top but it was a fairly safe bet it gave me that edge, I figured if price continued to rise I would get out with v little damage Its like Sho says he enters before most people and thats where he gets the advantage if you look at a lot of trades if you get in at breaks of lows etc its too late a lot of the time the bulk of the move has already happened
  • #777
  • Feb 23, 2010 5:43am Feb 23, 2010 5:43am
Quoting adler
This is my trade Today target T1 is 123.03
Nice trade adler. I can tell you're a patient kind of guy. I flagged it up as a potential but the stop was 20+ and since it ran away without any retrace I missed out. Story of my life at the moment.
  • #778
  • Feb 23, 2010 5:45am Feb 23, 2010 5:45am
Quoting francis2
no what i did in that case was enter when price had pulled back to previous support and stoch was right at the top so basically I picked the top but it was a fairly safe bet it gave me that edge, I figured if price continued to rise I would get out with v little damage Its like Sho says he enters before most people and thats where he gets the advantage if you look at a lot of trades if you get in at breaks of lows etc its too late a lot of the time the bulk of the move has already happened
Thanks for the explanation Francis. I'll check out the stochs on the 15M, 5M and 1M charts around that pull back and see if I can learn something.
  • #779
  • Feb 23, 2010 5:46am Feb 23, 2010 5:46am
It's hard when you miss an entry on a runaway day like this isn't it?
  • #780
  • Feb 23, 2010 5:47am Feb 23, 2010 5:47am
Sutts you could have entered at 124.28 with 10 pip stop
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