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intraday trend trading with price action

  • #1,661
  • Mar 23, 2010 12:48am Mar 23, 2010 12:48am
[quote=TheRoper;3574814]
Quoting MJurban
i have a question about rule
18*if signal bar meet all the above criteria i will enter and put the stop just above or below the signal bar.

Hello MJurban,

I attached a chart from a trade today. I put my stop just below the support area.

Most of my stops are 10-20pips looking for at least 25 pip target.

Hope this helps

Kurt
Spot on mate.

Since I have adopted the 25 tp method, I am more successful.

  • #1,662
  • Mar 23, 2010 1:03am Mar 23, 2010 1:03am
Thanks Sho,

I just finished the thread by reading all the posts. I would read it again and again. It is correct there is no shortcut in this business and it is worth to read this thread complete. Your posts are million dollars system... we are luck we got you...
one question.. about an old post: #1338
http://www.forexfactory.com/showpost...postcount=1338

You asked a question how to see demand and supply by looking this chart. Please explain that..
what i understand that long wicks down are showing the big guns are pushing markets to short where they had huge long orders which is pushing market upward. Also ppl who were short taking their profits out and market is exhausted now and cannt make new low. So it is reversal time...
Please explain that.
  • #1,663
  • Mar 23, 2010 5:35am Mar 23, 2010 5:35am
Quoting MJurban
i have a question about rule
18*if signal bar meet all the above criteria i will enter and put the stop just above or below the signal bar.

how far to put the SL above/below the extrem of the signal bar.
happend to me several times the sl was to close, the stop was triggert i was out and price turned in former direction not giving ma a chance to reenter.

[color=black][font=Arial]that hurts, leaving me with an sl cause the sl...
allways use signal bar add the spread with that.use extra pip as well brokers change their stop to take you down.
  • #1,664
  • Mar 23, 2010 5:36am Mar 23, 2010 5:36am
Quoting 786 trading
Thanks Sho,

I just finished the thread by reading all the posts. I would read it again and again. It is correct there is no shortcut in this business and it is worth to read this thread complete. Your posts are million dollars system... we are luck we got you...
one question.. about an old post: #1338
http://www.forexfactory.com/showpost...postcount=1338

You asked a question how to see demand and supply by looking this chart. Please explain that..
what i understand that long wicks down are showing the big guns are pushing...
thanks mate for nice comments.i will have a look soon.
  • #1,665
  • Mar 23, 2010 8:19am Mar 23, 2010 8:19am
Quoting MJurban
yes, that is the bar, why it is no trade?
correct me if I am wrong.
It is not a pinbar or inside bar.
It is at best a neutral bar.
Or is there any other price formation I have missed?
  • #1,666
  • Mar 23, 2010 8:45am Mar 23, 2010 8:45am
Quoting the novice
correct me if I am wrong.
It is not a pinbar or inside bar.
It is at best a neutral bar.
Or is there any other price formation I have missed?
its only a retrace bar, but the second retrace and some 50% form the last swing and it testet the mid keltner
also i small SL risk ( wich was taken cause the next bar moves just some pips more before turn down)
that is reason enogh for me to try an entry
maybee i am wrong but thats what normaly works for me (not this time)
Attached Image
  • #1,667
  • Mar 23, 2010 8:49am Mar 23, 2010 8:49am
I love this method. Very small loss and in a controlled way. Once I learn to control my risk and minimize the loss then my success way would begin.
I got a loss on this trade but no worry because normally i used to take big losses on these kind of trades. This method tells me very early if I am wrong.

Thanks Sho. I just started to learn.

Edit: My short entry was opening of new candle after signal bar(pin bar).
Attached Image
  • #1,668
  • Mar 23, 2010 8:51am Mar 23, 2010 8:51am
Quoting MJurban
its only a retrace bar, but the second retrace and some 50% form the last swing and it testet the mid keltner
also i small SL risk ( wich was taken cause the next bar moves just some pips more before turn down)
that is reason enogh for me to try an entry
maybee i am wrong but thats what normaly works for me (not this time)
I see.
Good that it works for you usually.
  • #1,669
  • Mar 23, 2010 8:59am Mar 23, 2010 8:59am
Quoting the novice
I see.
Good that it works for you usually.
normaly i get a couple of stoplosses. Thats OK they are very small.
and , like it says in the rules , i try the next candle and if it is a A+ i even try the 3. candle
But in this special case there was no chance for another try, cause after the SL the price turned down vwery fast no chance to enter.
If you scal back the charts , this is not a normal situation i dont see when it happend before.
  • #1,670
  • Mar 23, 2010 8:59am Mar 23, 2010 8:59am
Quoting 786 trading
I love this method. Very small loss and in a controlled way. Once I learn to control my risk and minimize the loss then my success way would begin.
I got a loss on this trade but no worry because normally i used to take big losses on these kind of trades. This method tells me very early if I am wrong.

Thanks Sho. I just started to learn.

Edit: My short entry was opening of new candle after signal bar(pin bar).
i will show everyone a advance trick with this chart.bit later.
  • #1,671
  • Mar 23, 2010 9:01am Mar 23, 2010 9:01am
Quoting MJurban
its only a retrace bar, but the second retrace and some 50% form the last swing and it testet the mid keltner
also i small SL risk ( wich was taken cause the next bar moves just some pips more before turn down)
that is reason enogh for me to try an entry
maybee i am wrong but thats what normaly works for me (not this time)
dont worry mju
for u everyone will learn something with this chart .be patience i will post soon.
just remind me if i forget.
  • #1,672
  • Mar 23, 2010 9:06am Mar 23, 2010 9:06am
Quoting MJurban
its only a retrace bar, but the second retrace and some 50% form the last swing and it testet the mid keltner
also i small SL risk ( wich was taken cause the next bar moves just some pips more before turn down)
that is reason enogh for me to try an entry
maybee i am wrong but thats what normaly works for me (not this time)
Hi MJ,

Let's share the idea. I would take the short too. But my ideal entry point is the red bar, right after the price went down more than the indecision bar. Then the sl would set above the indecision bar.

For sharing.

City
  • #1,673
  • Mar 23, 2010 9:14am Mar 23, 2010 9:14am
Quoting Buildcity
Hi MJ,

Let's share the idea. I would take the short too. But my ideal entry point is the red bar, right after the price went down more than the indecision bar. Then the sl would set above the indecision bar.

For sharing.

City
shure, the red bar , the green bar is only the signal bar, entry if signalbar is closed
  • #1,674
  • Mar 23, 2010 10:10am Mar 23, 2010 10:10am
I always have problem in exit.. when to take profit. I move the stop loss to break even and then lock the profit. But these candles I cannt read properly. I think chart is telling me something. Please guide me Sho.
Where should I exit? Or should I still hold the long entry.
I want to run my profit. Is it proper way to trade as pro. ?
Attached Image (click to enlarge)
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  • #1,675
  • Mar 23, 2010 11:20am Mar 23, 2010 11:20am
Quoting MJurban
shure, the red bar , the green bar is only the signal bar, entry if signalbar is closed
I think city meant enter on the close of the red bar, which technically should be the signal bar.
That would have made a viable trade price action.
Only thng is the SL should be based on the signal bar and not on the indecision bar.

Hope I interpreted you correctly, city.
  • #1,676
  • Mar 23, 2010 11:47am Mar 23, 2010 11:47am
Quoting the novice
I think city meant enter on the close of the red bar, which technically should be the signal bar.
That would have made a viable trade price action.
Only thng is the SL should be based on the signal bar and not on the indecision bar.

Hope I interpreted you correctly, city.
Tks Novice and MJ, but what I meant is to enter at the moment of the red one developing downward and after the lowest of indecision bar. i.e. no waiting to the close of red bar. Otherwise the sl is too large.

But this may be the different of whether you are aggressive or conservative.

For discussion, may be Sho's has the right answer for us.

City
Attached Image
  • #1,677
  • Edited 11:51am Mar 23, 2010 11:48am | Edited 11:51am
Quoting the novice
I think city meant enter on the close of the red bar, which technically should be the signal bar.
That would have made a viable trade price action.
Only thng is the SL should be based on the signal bar and not on the indecision bar.

Hope I interpreted you correctly, city.
not at the close of the red bar, city writes
Quote
But my ideal entry point is the red bar, right after the price went down more than the indecision bar. Then the sl would set above the indecision bar.

That is exactly the way i like to go into a trade, wait a lilltle how it dewellops
  • #1,678
  • Mar 23, 2010 12:06pm Mar 23, 2010 12:06pm
I try not to have a SL larger than 10 pips. usually they about 6-7 pips. I always go for 20-25 pips. I like to have SL 2 pips under/above signal bar. where i lose money is when i get knocked out and get frustratred and just jump back in. must get more disaplined there. grass is always greener, if you set TP it runs and you feel sick. If you try and let it run it comes back and takes you for BE. Does your head in! That is why i just go for 20-25 now. Also, i only trading E/U at mo cuz my brain too small to move on to more pairs yet lol!!
  • #1,679
  • Mar 23, 2010 12:12pm Mar 23, 2010 12:12pm
Quoting MJurban
not at the close of the red bar, city writes

That is exactly the way i like to go into a trade, wait a lilltle how it dewellops
Hi MJ
yes it seems that city agrees with you.
Which means that both of you are entering while the red bar is developing, with price going lower than the indecision bar.
My problem with this approach is if the bar decides to close in the opposite direction. Of course, as MJ mentioned, the SL is small.
But for the sake of clarity, I am wondering if this is what Sho teaches.

I remember Sho's entry is either on the close or the break of a price action, never in the process while the bar is still forming.

This is an interesing point.

It would benefit us if Sho could chip in and enlighten us.
  • #1,680
  • Mar 23, 2010 12:14pm Mar 23, 2010 12:14pm
Quoting iak
I try not to have a SL larger than 10 pips. usually they about 6-7 pips. I always go for 20-25 pips. I like to have SL 2 pips under/above signal bar. where i lose money is when i get knocked out and get frustratred and just jump back in. must get more disaplined there. grass is always greener, if you set TP it runs and you feel sick. If you try and let it run it comes back and takes you for BE. Does your head in! That is why i just go for 20-25 now. Also, i only trading E/U at mo cuz my brain too small to move on to more pairs yet lol!!
if the SL is too large, Sho mentioned to enter on a retrace or to let the trade pass if there is no retrace.
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