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Intraday price action trend trading

  • #781
  • Mar 25, 2010 4:54am Mar 25, 2010 4:54am
Quoting Sutts
Long EU off signal bar at 1.3341.

Moved to B/E
Well spotted mate.

  • #782
  • Mar 25, 2010 4:57am Mar 25, 2010 4:57am
Quoting Sutts
Yeah, persistency will pay off I'm sure. Just hope my wife has the same faith!
Sounds like we could have been twins.

Focus on the goal.

FREEDOM

  • #783
  • Mar 25, 2010 4:59am Mar 25, 2010 4:59am
Quoting matlobien
I go for 25 or nothing.

Improved my winnings a lot.

That's interesting. It's about 2 times my usual stop (or a little more) so it makes sense. I did try holding out for 3x for a while but they usually failed to get there.

It could be that my stops are too large and I should be waiting for more of a retrace to get in with smaller risk.

We've got to remember, we're trading 15 minute charts on currencies where the hourly range is between 20-30 pips. You've really got to expect a significant retrace once you get to the upper end of that pip range so taking profits at 25 makes sense to me.
  • #784
  • Mar 25, 2010 5:00am Mar 25, 2010 5:00am
Quoting matlobien
Well spotted mate.

Thanks. Just got stopped out for B/E though.

Oh well, sure there's another around the corner for me.
  • #785
  • Mar 25, 2010 5:01am Mar 25, 2010 5:01am
Quoting matlobien
Sounds like we could have been twins.

Focus on the goal.

FREEDOM

LOL. Yes, no way I'm going back to working in IT. Too close now anyway.
  • #786
  • Mar 25, 2010 5:02am Mar 25, 2010 5:02am
Quoting Sutts
That's interesting. It's about 2 times my usual stop (or a little more) so it makes sense. I did try holding out for 3x for a while but they usually failed to get there.

It could be that my stops are too large and I should be waiting for more of a retrace to get in with smaller risk.

We've got to remember, we're trading 15 minute charts on currencies where the hourly range is between 20-30 pips. You've really got to expect a significant retrace once you get to the upper end of that pip range so taking profits at 25 makes sense to me.
Not my brilliance mate.

One of the tips Sho has given us.

  • #787
  • Mar 25, 2010 5:05am Mar 25, 2010 5:05am
Quoting Sutts
Thanks. Just got stopped out for B/E though.

Oh well, sure there's another around the corner for me.
BE equals a win.

  • #788
  • Mar 25, 2010 5:06am Mar 25, 2010 5:06am
Quoting Milton
There is also what of divergence, but keep cool Dave, you can't lose (break-even).
Well spotted Milton. Yes, have to agree there's some pretty serious divergence going on there. Sho says it shouldn't keep us out of entering trades but I guess we could move to B/E a bit quicker to account for the extra risk?
  • #789
  • Mar 25, 2010 5:08am Mar 25, 2010 5:08am
Quoting matlobien
BE equals a win.

Yep, suppose so.
  • #790
  • Mar 25, 2010 5:10am Mar 25, 2010 5:10am
Quoting Sutts
Well spotted Milton. Yes, have to agree there's some pretty serious divergence going on there. Sho says it shouldn't keep us out of entering trades but I guess we could move to B/E a bit quicker to account for the extra risk?
Yes, divergence for exit .

Learned that the hard way.

Missed so many entries because I saw divergence.

  • #791
  • Mar 25, 2010 5:12am Mar 25, 2010 5:12am
morning
  • #792
  • Mar 25, 2010 5:14am Mar 25, 2010 5:14am
watch out i think aud/usd is gonna change the direction soon
  • #793
  • Mar 25, 2010 5:15am Mar 25, 2010 5:15am
Morning all, on the EUR would it have been a valid entry off 9.15 candle long at 1.33379 at 50% retrace or is that classed as inside bar and entry would have been a move beyond the high
  • #794
  • Mar 25, 2010 5:16am Mar 25, 2010 5:16am
I've always considered a momentum bar as a decent sized bar with small wicks in comparison to the body. Looking back through some of Sho's postings last night I think he includes hammers and inverted hammers too. I guess that makes sense since a hammer shows that price pulled back and then was catapulted back up.

What do you guys think?
  • #795
  • Mar 25, 2010 5:16am Mar 25, 2010 5:16am
Morning Sho!
  • #796
  • Mar 25, 2010 5:18am Mar 25, 2010 5:18am
Quoting trade price
watch out i think aud/usd is gonna change the direction soon
because of 50% retrace of yesterday Sho
  • #797
  • Mar 25, 2010 5:18am Mar 25, 2010 5:18am
Quoting francis2
Morning all, on the EUR would it have been a valid entry off 9.15 candle long at 1.33379 at 50% retrace or is that classed as inside bar and entry would have been a move beyond the high
i am allready in
be
  • #798
  • Mar 25, 2010 5:19am Mar 25, 2010 5:19am
Quoting francis2
Morning all, on the EUR would it have been a valid entry off 9.15 candle long at 1.33379 at 50% retrace or is that classed as inside bar and entry would have been a move beyond the high
Morning Francis. I hope it was valid as I took it. I guess a new signal bar would override the last inside bar but would be good to hear Sho's opinion on that.
  • #799
  • Mar 25, 2010 5:19am Mar 25, 2010 5:19am
Quoting francis2
because of 50% retrace of yesterday Sho
intraday div as well with price action
  • #800
  • Mar 25, 2010 5:20am Mar 25, 2010 5:20am
Quoting trade price
i am allready in
be
Sho,

I took the EU trade off that pin bar and moved to B/E when my risk was met. Just got stopped out though. How did you manage to stay in?
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