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intraday trend trading with price action

  • #801
  • Feb 23, 2010 7:33am Feb 23, 2010 7:33am
Hi Sho

I took the UJ trade short but was stopped out at breakeven.
I moved my stop to breakeven when price moved to the low of the previous green bar (x).
Is it too soon to move the stop when the bar has not closed?
Because the price has continued in my direction after I am stopped out.
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 16 KB
  • #802
  • Feb 23, 2010 7:33am Feb 23, 2010 7:33am
Quoting ukcool
Sho,

Were these trades correctly taken.
mate see the post #790


sho
  • #803
  • Feb 23, 2010 7:35am Feb 23, 2010 7:35am
Milton
2 trades, First EURJPY and then USDJPY

EURJPY Entered: around 124.18 and exited 123.06(T1) it is now moving towards Target 2: 122.76-122.65
USDJPY Entered: Around 90.92 and still waiting for exit either convergence or target.
  • #804
  • Feb 23, 2010 7:35am Feb 23, 2010 7:35am
Quoting trade price
dave always try to take the trade with nice trend thats where all the big money.onece you are mastered the methood you can try diffrent thing with small risk.but first make money.
how many trade you need a week to make money.
only amature stay all the time in the market.
market doesnot care who we are .it will always try to take ours money.
we are against all the best player if we stay all the time in the market.at the begining take A+ setups and wait.
follow the methood...
Thanks Sho, sound advice. I'll stick with it and try to be more patient.
  • #805
  • Feb 23, 2010 7:38am Feb 23, 2010 7:38am
Quoting the novice
Hi Sho

I took the UJ trade short but was stopped out at breakeven.
I moved my stop to breakeven when price moved to the low of the previous green bar (x).
Is it too soon to move the stop when the bar has not closed?
Because the price has continued in my direction after I am stopped out.
its good.get used to with that.i am glad you saved your self.i know you are felling bad about that.but you did not lose anything.
it could have been a loser.
you did great mate.

sho
  • #806
  • Feb 23, 2010 7:39am Feb 23, 2010 7:39am
Quoting trade price
yes dave .even if we played the pin bar and moved the stop to breakven at the next bar .then it droped havily.
we did not lost anything and we saved our ass.thats how you have to manage the trade.its not same as money manegement.this is trade management.it is more important than money management.
can you see how important to move the stop to break even.
we are not losing anything.in the long run thats how you have to survive in this game.as a trader our first target is protect our capital.
it is same as protecting your country.
if we know...
Again, thanks, very helpful.
  • #807
  • Feb 23, 2010 7:42am Feb 23, 2010 7:42am
Hello Sho
I have a question that is really important for me. Are the pinbars with yellow arrow valid signal bars for down trend? Because I thought, only the pinbars with blue arrow were valid (the yellow arrowed pinbars show, that the buyers pushed the price up again). With my opinion I would miss many trades.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 26 KB
  • #808
  • Feb 23, 2010 7:47am Feb 23, 2010 7:47am
Quoting Sutts
Thanks Sho, sound advice. I'll stick with it and try to be more patient.
i am not telling to stick with my methood.
you can use any methood.so many good methood out there.
do know something -that was my biggest problem.
one man is selling his system for over three grand. his name is B P.those two letter is his name.propbably you know him.
his whole trading system is f**** crap and worth less than my post #80
  • #809
  • Feb 23, 2010 7:54am Feb 23, 2010 7:54am
Hello Sho
Your method is simply brilliant, I do not have any words for it, But I am sure you do use fibs or study BIAS for the day before you start to look for yuor kelter react in the same was as your BIAS. I believe our guys are missing it. Trading without a BIAS or the direction is the reason for panic and as well not able to set stop loss.
I use 2 fibs everyday morning
H4 fib on the current swing and H1 on the yesterday high low which gives me a good leading advantage for predicting price direction and chaging points and I use your keltner to confirm that price is doing what I am planning to do and then enter with stoc confirming on 15 mins sometimes early if i see things moving in my direction quickly to reduce my stop loss.
  • #810
  • Feb 23, 2010 7:54am Feb 23, 2010 7:54am
Quoting trade price
i am not telling to stick with my methood.
you can use any methood.so many good methood out there.
do know something -that was my biggest problem.
one man is selling his system for over three grand. his name is B P.those two letter is his name.propbably you know him.
his whole trading system is f**** crap and worth less than my post #80
I know you're not telling me Sho, I really like your method and can clearly see the results from the charts everyone is posting. I just need to work on my implementation and spot warning signs like IBs which I miss again and again.....
  • #811
  • Feb 23, 2010 7:58am Feb 23, 2010 7:58am
Quoting Milton
Hello Sho
I have a question that is really important for me. Are the pinbars with yellow arrow valid signal bars for down trend? Because I thought, only the pinbars with blue arrow were valid (the yellow arrowed pinbars show, that the buyers pushed the price up again). With my opinion I would miss many trades.
see your chart now.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 31 KB
  • #812
  • Feb 23, 2010 8:05am Feb 23, 2010 8:05am
Quoting trade price
see your chart now.

Hey, I took that last trade for 30 pips and you say it was A+.
Now I feel better.
  • #813
  • Feb 23, 2010 8:06am Feb 23, 2010 8:06am
Quoting trade price
see your chart now.
Thanks Sho
  • #814
  • Feb 23, 2010 8:07am Feb 23, 2010 8:07am
Quoting trade price
its good.get used to with that.i am glad you saved your self.i know you are felling bad about that.but you did not lose anything.
it could have been a loser.
you did great mate.

sho
Thanks for the affirmation!
  • #815
  • Feb 23, 2010 8:07am Feb 23, 2010 8:07am
Quoting Sutts
I know you're not telling me Sho, I really like your method and can clearly see the results from the charts everyone is posting. I just need to work on my implementation and spot warning signs like IBs which I miss again and again.....
dont worry with practice everything will be fine.
just pm your email and i will send a link to you.thousands of dolars of sytems .
download them for free and compare all the system with my post #80.
than you will understand what i am showing you in this thread.
  • #816
  • Feb 23, 2010 8:08am Feb 23, 2010 8:08am
Quoting Sutts
Hey, I took that last trade for 30 pips and you say it was A+.
Now I feel better.
so that was you took all the pips
  • #817
  • Feb 23, 2010 8:20am Feb 23, 2010 8:20am
Quoting trade price
yes dave .even if we played the pin bar and moved the stop to breakven at the next bar .then it droped havily.
we did not lost anything and we saved our ass.thats how you have to manage the trade.its not same as money manegement.this is trade management.it is more important than money management.
can you see how important to move the stop to break even.
we are not losing anything.in the long run thats how you have to survive in this game.as a trader our first target is protect our capital.
it is same as protecting your country.
if we know...
Hi Sho,
I like your distinction between trade management and money management.
Regards
  • #818
  • Feb 23, 2010 8:43am Feb 23, 2010 8:43am
Quiet this morning.
Most moves happened during the London session.

Used to wake up for the London session, but realised that after 5am, the market quietened down. So switched to NY seesion. But now it is quiet again.

Seems to be playing hide and seek with me!
  • #819
  • Feb 23, 2010 9:03am Feb 23, 2010 9:03am
Sho,

I took trade 2 and 3, but I wanted to know from you, if you would have taken trade 1.

Thanks

http://i45.tinypic.com/bfm9h3.jpg
  • #820
  • Feb 23, 2010 10:07am Feb 23, 2010 10:07am
Just made a counter trend trade at EU, 3548 to 3573, +25pips, really risky but quick!!

Better stick with Sho's method, but a pretty nice pin bar at the bottom, and after a big jump for 160pips down, couldn't stand for it then go.
http://cdn.forexfactory.com/images/icons/icon12.gif
cheers
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