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Igrok Method. Q's & A's. Comments, thoughts and ideas

  • #5,141
  • Mar 25, 2010 1:15pm Mar 25, 2010 1:15pm
Quoting FxSoldier
Hi,
18.3 is one of the hardest templates to trade, and at this example trading 18.3 against main move of yesterday, week, month.
And yesterday was strong trendline breakout against 18.3.
There is M15,M30,H1 divergence in favour for 18.3 template but it's not enough in my opinion.

Or i'm missing something?


edit: could SL be placed above downward trendline by 15pips (marked with red arow in second picture)?
I bought with the trend. You have to practice on identifying the price-action correctly. Take a look on todays eur/jpy, it was 18.3 too.

Quoting songbo
where did u place the SL ?
As the template suggest, 50 pips

Here is an I.D diamond on gbpjpy that made me take profit from my long:
Attached Image (click to enlarge)
Click to Enlarge Name: workspace-snapshot.png Size: 19 KB
Measure twice, cut once
  • #5,142
  • Mar 25, 2010 1:50pm Mar 25, 2010 1:50pm
Guys, I'm going to say this again and I'm not saying this to demotivate anyone.

You have, as a new participant in this thread, absolutely no idea how much practice you need only to understand and apply some of the basic concepts successfully. Since Igrok and some of the very very few seniors in this thread rarely have time to explain the basics that are already explained, practice is the only solution.

When a participant enters the FX market to speculate, I'd guess you'd have less than 1% to succeed. With Igroks method you could probably double the stat to 2%. Of course, this numbers could have been taken from thin air, but the point is that many fail to grasp trading with live mentoring/teaching (like with the turtles) even among Igroks students.

After soon 4 years of more drawing, writing, back-testing, journaling, crying, modifying and practical experience (probably above the average of market-participants given the same time) I'm at the point where I can successfully trade my own/investors money with confidence. Before such an dedication is shown, I wouldn't expect someone to become a millionaire much faster, but who knows, maybe I'm stupid needing so much training to handle this
Measure twice, cut once
  • #5,143
  • Mar 25, 2010 2:30pm Mar 25, 2010 2:30pm
Quoting aediaz1
Guys, I'm going to say this again and I'm not saying this to demotivate...
Very well said, its pretty much a journey where most people give up half way and most went broke. To add to the practice part, I suggest trading only one direction, long or short, this should prevent you from over trading and keep losses in check while learning the ropes with the exception of ADR strategies.

André, you are definatly not stupid, the way you stayed on course and the determination to master it is really impressive, its shows in your PnL. You are somebody who beat the odds.

By the way...Oslo is TOOOOOOOOO expensive !!
  • #5,144
  • Mar 25, 2010 4:38pm Mar 25, 2010 4:38pm
Quoting aediaz1
Guys, I'm going to say this again and I'm not saying this to demotivate...
Thanks for your explanation, what's the way to success

I'm sticking with few strategies and i'm trying to understand them from basic concept. At this moment i'm trying to train my eye to perceive templates from fist look, i understand that there is lots of practise to do. I know that 'The more i gonna learn, more i gonna earn'

In my chart it's not a diamond it's rather a house with broken floor
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-03-25_GBPJPY_house.png Size: 49 KB
  • #5,145
  • Mar 25, 2010 5:35pm Mar 25, 2010 5:35pm
Quoting FxSoldier
Thanks for your explanation, what's the way to success

I'm sticking with few strategies and i'm trying to understand them from basic concept. At this moment i'm trying to train my eye to perceive templates from fist look, i understand that there is lots of practise to do. I know that 'The more i gonna learn, more i gonna earn'

In my chart it's not a diamond it's rather a house with broken floor
try this
Attached Image (click to enlarge)
Click to Enlarge Name: gj.jpg Size: 75 KB
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #5,146
  • Mar 25, 2010 5:50pm Mar 25, 2010 5:50pm
this pair is blowing my mind right now

4th possible touch of ltl, and what looks like a throwback/cup and handle top, h1 bearish divergence so far

vs

last low bounced exactly off prev resistance like clockwork, higher lows, higher highs and a possible attack on the weekly descending supply line and we all know what happens of that breaks and gets a confirmation throwback if broken....

daily closed in one of my favorite bearish bar/candle formations which is a personal preference of mine and just wanted to add it to the confluence of events

although i am very biased (bearish usd), i will trade either break out according to the simple template rules, no excuses that is how i was taught personally by first hand igrok disciples
Attached Image (click to enlarge)
Click to Enlarge Name: uchf.jpg Size: 81 KB
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #5,147
  • Mar 25, 2010 6:32pm Mar 25, 2010 6:32pm
Quoting FxSoldier

In my chart it's not a diamond it's rather a house with broken floor
Funny

Quoting aiyahmarklah
Very well said, its pretty much a journey where most people give up half way and most went broke. To add to the practice part, I suggest trading only one direction, long or short, this should prevent you from over trading and keep losses in check while learning the ropes with the exception of ADR strategies.

André, you are definatly not stupid, the way you stayed on course and the determination to master it is really impressive, its shows in your PnL. You are somebody who beat the odds.

By the way...Oslo is TOOOOOOOOO expensive !!
True Mark and thank you for your kindly words.

I suddenly do not hope you where in Norway without telling me?!
Measure twice, cut once
  • #5,148
  • Mar 26, 2010 1:41am Mar 26, 2010 1:41am
#18.3 looks promising on Aussie...
  • #5,149
  • Mar 26, 2010 2:42am Mar 26, 2010 2:42am
Usd/cad looks better
Measure twice, cut once
  • #5,150
  • Mar 26, 2010 3:03am Mar 26, 2010 3:03am
Quoting aediaz1
Usd/cad looks better
Hmm wuold say worth risk to pick up the bottom
  • #5,151
  • Mar 26, 2010 3:29am Mar 26, 2010 3:29am
Quoting aediaz1
Funny



True Mark and thank you for your kindly words.

I suddenly do not hope you where in Norway without telling me?!
I found out from my research online, the plan was disrupted due to family issues, so I guess the plan has to shelved for the time being.
  • #5,152
  • Mar 26, 2010 4:26am Mar 26, 2010 4:26am
Quoting PutaMadre
#18.3 looks promising on Aussie...
Just few pips from chanching Monthly MM to down....
  • #5,153
  • Mar 26, 2010 5:54am Mar 26, 2010 5:54am
Igrok, could you please explain one thing about GAPS?
You rather often talked that GAPS influence a price move. GAPS are “unpaid debts” that attract the price and often makes it to get back and fill the gap. So, it’s interesting which gaps exactly do you take into consideration?
I’ve posted here a picture with three typical examples of gaps. Which one of them do you use in your method?

I know, you already have given a partial answer for my question, here:

“Gaps are just gaps. Any TA textbook has its description. In our case on the USDX the closing price on the 1-st of October was 77.90 and the next day's low was at 77.91 and it never traded below that low up until today. So, it was a quite legit 1-pip gap between two consecutive daily bars”.
But could you explain which type of gaps to follow and finaly complete gaps issue.
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  • #5,154
  • Mar 26, 2010 3:13pm Mar 26, 2010 3:13pm
Quoting aediaz1
Usd/cad looks better
what is your target on USDCAD?
  • #5,155
  • Mar 27, 2010 9:13pm Mar 27, 2010 9:13pm
GU weekly comb broken downward. BUT new low is still no where
Attached Image (click to enlarge)
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  • #5,156
  • Mar 28, 2010 9:55pm Mar 28, 2010 9:55pm
EJ 4H Diamond
Attached Image
  • #5,157
  • Mar 29, 2010 1:09am Mar 29, 2010 1:09am
Quoting masut
EJ 4H Diamond
There is no broadening triangle on the left side
  • #5,158
  • Mar 29, 2010 1:51am Mar 29, 2010 1:51am
Quoting gabs
There is no broadening triangle on the left side

could be 19.13b ?
  • #5,159
  • Mar 29, 2010 4:19am Mar 29, 2010 4:19am
Quoting songbo
could be 19.13b ?
possible
  • #5,160
  • Mar 29, 2010 5:54am Mar 29, 2010 5:54am
Spot the I.D template you could've used here:
Attached Image
Measure twice, cut once
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