intraday trend trading with price action

good one kurt

sho

first mark was great.
second mark was too late see how big stop is if you lose only one trade like this you will lose so many pips in one trade.oh man i feel sick if i think like that.

hope this help
sho

Thanks.

hi all

that was my first trade ,that pin bar that failed,i thought it was a good one,of the 61.8 fib

had to have a early night so missed the rest of the good bars

thats trading,good to see that everyone says it was a good trade,i saw it right

thanks john

****** MY MASTER RULE IS FOLLOW MY RULES*******
****** TO MAKE MONEY I NEED MOMENTUM SO I WOULD NOT TRADE WHEN MARKET IS FLAT****
-Before entry-
1*i should know what is the maximum amount of pip i want to loss in a trade.
2*before the trade i have to decide am i looking for 2:1 or 3:1? whatever i chose i must have to remember that.
3*first thing look for is =is market trending or sideway?
4*i need clear and tidy chart to trade.
5*dont chase the market.
6*look for nice and clear impulsive moves.
7*wait for a retrace to fib level 50% or 61% because institutions follow them for entry.and if it is above the previous resistant or below the previous support its better.now its a good setup.
and if it rejected from kelther channel lines its even better and now its an A+ setup.

i can trade with kelthner when its in nice angle with small stop loss.

8*now look for clear price rejecting from that level in the corrective move.
9*play outside and inside bar in the direction of trend not against the trend.
10*if they move quickly dont chase the market.
11*when i enter i dont look at the stocastic.if i do i will miss lots of good trades.because most of the big move happens when stocastic is overbought or oversold.
stocastic is not for entry.only for divergence.
12 *no set up no trade.
13* as soon as i realise market is flat i will stop trading.i will close my trading platform.

-ENTRY-
14* if risk permits me to enter then i will enter other wise i will pass the trade.
15* when i a see big signal bar i will wait for the retrace at the next bar.
16*if it is a inside bar i will enter at the breakout if risk permits me.otherwise i will pass the trade.if it is out side bar i will wait for retrace and enter at the next bar.
17*if its a pin bar or like pin bar. i will enter at the close of the signal bar if risk permits me or i will wait for the retrace.if it keeps moving.there is nothing to worry.another trade is in the corner.
18*if signal bar meet all the above criteria i will enter and put the stop just above or below the signal bar.

--TRADE MANAGEMENT AND EXIT.
19*when i will enter if trade doesnot move in my direction after 3rd bar i will close the trade because there is more chance that it will go against me.there is no reason to hold that trade. unless i see another signal bar in the direction of i am trading.

20* if i do get stoped out.i will wait for another nice entry bar.
21* in the same area if i do get stoped out twice unless its an A+ set up i will pass the 3rd trade.after 3 times in a row i will pass that trade it does not matter how good the setup is .wait for another impulsive move and another setup.
22 *when i will enter the trade if it moves in the direction of mine i will move the stop to break even as soon as it is same as stop loss.
now i am in the free trade.if i do get stoped out nothing to lose.

23* if trade goes in the direction i wanted i will close my possition acoordingly my risk reward ratio.
24* if i follow 2:1 . i will stick with that does not mattter what i do.if i follow 3:1 i will follow and stick with the ratio.
25*i will close the possition when it reached my target.i would not worry about rest of the move.
i am following my rules.
26*if i see any divergence before my target hit i will close the possition as soon as i will see any reversal bar.
27* Be impatient As always, small loses and quick losses are the best losses.
28* Never, ever under any condition, add to a losing trade, or "average" into a position
29* i will be very carefull when any unusual big bar occuare.

----EXTRA RULES---
****Do more of what is working for you, and less of what's not. Each day

***When sharp losses in equity are experienced, take time off. Close all trades and stop trading

***Think like a guerrilla warrior. We wish to fight on the side of the market that is winning, not wasting our time and capital . Our duty is to earn profits by fighting alongside the winning forces. If neither side is winning(flat market) then we don'tneed to fight at all.

****Focus on how you play the game and not on the scoreboard. Trade with discipline and follow your game plan.

****After a win streak, be extra disciplined! Many will make money in the market, but discipline is required to KEEP it.

Stay on your guard at all times!
I HAVE TO REMEMBER
*****No trading rules will deliver a profit 100 percent of the time.******

that was only guidence if you need to change ,adjust them yourself.
allways trade based on rules then emotion wouldnot distruct u while u trading.lots of u was waiting for them but sorry for being bit late
sho

Hey Sho,

I know everyone has been awaiting this very comprehensive list of your trading method.

I know I speak for everyone in saying you are a very generous and caring individual to outline what has take years to learn.

Thank you again for your help and support.

Kurt

Hello Sho,
a big thank you for printing the rules

Thank you Sho, these rules are no doubt will make real trader.
Cut the losses short and always keep in mind risk reward ratio and stick with them. Quick losses or small losses are best losses. These are brilliant rules and summary of years of hard work and experience.

Thanks again boss.

Thanks for the rules and your caring towards us.

I will definitely implement your rules.

Hari

GOD BLESS YOU SHO.

May the pips keep following you.

Hi Sho,

Thanks for distilling it all down into one place for us.

We have enough to guide us in this thread for as long as we trade.

Thanks for the effort you are devoting to us all here, and I'm glad that you decided to return to what has become the most complete thread on FF.

Alan

Thank you Sho for the clear rules.

Thankyou for posting rules. nice to have a proper list to refer to.

that was nice.

Sho,

Woo....... I have to take several days off from trading and digest the whole content below word by word. U really are the man.

Cheershttp://cdn.forexfactory.com/images/icons/icon14.gif
City

i wonder if this is a valid short entry?
i watched EU this morning but dit not find an entry to go short until it retraces
now the retrace is some 50% but the last move was bullish
i took the short right now, but was it a valid entry?

I would say it was valid if your risk is low. in the rules sho posted he says to wait for a 50/68 retrace then take your move. i might be wrong but i think you can use fibs or keltner. even better if they working together

Pretty good move in your direction!!http://cdn.forexfactory.com/images/icons/dollar.gif

Good day all am a newbie, just learning the rules of the game.ve tried some indicators that worked out for a while only to get my account wiped off on later occassion.i ve been following this thread and found it very helpful.i just want out someone out there to put me through on keltner channel.
to you professional traders out there that re taking their time out to give we newbie some key clues i say a big thank you.God bless.............