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intraday trend trading with price action

  • #1,741
  • Mar 28, 2010 10:16am Mar 28, 2010 10:16am
its one of the post by me in someone elses thread.its will tell u what is the diffrent between candle ,bar,line and price action.
click the link.
#91
  • #1,742
  • Mar 28, 2010 12:19pm Mar 28, 2010 12:19pm
Quoting trade price
its one of the post by me in someone elses thread.its will tell u what is the diffrent between candle ,bar,line and price action.
click the link.
#91
A rough go through, interesting. I must take some spare times to take a full look. Tks Sho

City
  • #1,743
  • Mar 28, 2010 12:59pm Mar 28, 2010 12:59pm
ok guys
i no lots of u are waiting for this post.
see all the charts and give big thanks to skeebo for asking that.u can only learn trading by doing practice.
not watching how someone trade.watching is the easy part and anyone can do that.
practice and errors can make u perfect.
be a proper trading comunity member .use the active thread and discuss with each other what u see and what u think.could be fantamental or technical.
i will join sometimes.but i am not a fandamental trader.but if u can thats better.u have another tool in ur arsenal.

learn how to manage the trade properly.entry is easy.its the trade management that makes a pro trader.

i am telling u a biggest truth.that is less then 1% scalpers make money in daytrading(i am talking about retail traders).
day trading is very hard.its not for everybody.
money management,psychology methood or system nothing will help untill u know how to manage the trade.

ok more later.see the charts now.lots of people took those trades and you dont no what was heppening behind the seen.allways look for the hidden picture.its not theory it is real trading.hard to belive but it is trading.
once u understand those trading will become your proffesion.
before that drop on friday i told u its gonna drop after the first red bar next to two doji on the top.if u read the my fridays post in the active thread u will find them.
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  • #1,744
  • Mar 29, 2010 12:53am Mar 29, 2010 12:53am
Quoting trade price
ok guys
i no lots of u are waiting for this post.
see all the charts and give big thanks to skeebo for asking that.u can only learn trading by doing practice.
not watching how someone trade.watching is the easy part and anyone can do that.
practice and errors can make u perfect.
be a proper trading comunity member .use the active thread and discuss with each other what u see and what u think.could be fantamental or technical.
i will join sometimes.but i am not a fandamental trader.but if u can thats better.u have another tool in ur arsenal....
thank you Sho for this very helpfull charts
  • #1,745
  • Mar 29, 2010 2:16am Mar 29, 2010 2:16am
Very interesting indeed Sho, thanks for posting.

I'm not sure if I completely understand the actions of the instituations though.

Is my thinking correct?

Institution receives a big order to go long EU. Institutions like to enter around big numbers and round numbers (for some reason!).

Big buy orders take time to fill and will move price against themselves if not executed into big supply. The best way to guarantee big supply is to wait for a decent bull run (lots of people loaded up long) and then wait for or help to generate a deep correction. When longs see momentum is lost and previous fractals breaking they will start to unload quickly and generate the supply necessary to fill the institutional order.

We know there was divergence already so momentum was waning before that last big push up to the 1.34 big number. That last push up probably hides selling of large positions by big players into the demand of the retail crowd who jump in late not wanting to miss out on a big move.

The big supply halts the advance around the big number and some of the longs start to take profit. This starts prices heading down and the instituation may sell a little to keep up the downward momentum with the aim of breaking the last fractal and thereby sending a GET OUT message to the weak longs who enjoyed the ride up.

With the breaking of the first and second fractal, the institution benefits from all the supply coming in from longs bailing out and probably gets most of the order filled around the round number which was the original idea.

The big selling now stops and with the round number holding many longs find the confidence to jump back in which takes prices higher allowing the institution to take some profits.


Does this make sense Sho?
  • #1,746
  • Mar 29, 2010 6:36am Mar 29, 2010 6:36am
Quoting Sutts
Very interesting indeed Sho, thanks for posting.

I'm not sure if I completely understand the actions of the instituations though....
good learning dave.this is real life institutionnal trading stratagy.
thats why i allways say i change my mind with the market.i flip my thinking with market orders flow.

supply level= seller
demand level=buyer.

if any one tells u something diffrent than what i said just tell them go and burn ur ass and show me how to trade.
i trade stock with market makers .once u understand order flow principle u can easily trade counter trend trade like having a cup of tea.
i know lots of people is thinking what the hell i am talking.but i am gonna put two counter trend trade and made money will post in the active trade right now
  • #1,747
  • Mar 29, 2010 8:56am Mar 29, 2010 8:56am
Okay, so i said i will post something to help people out.

I lot of Sho's method revolves around identifying Impulsive and Corrective moves, and also drawing a lot of lines on charts.

Why don't we make our lives easier?

Have a look:

Here is the normal GBP/JPY H1 chart followed by the same chart with clearer moves. Simply by changing candlesticks to line chart.
Now you can clearly see the moves, without distraction from the different candlestick formations for a moment.

I know it may seem obvious, some of you may or may not be using it. But i thought since there is no mention of this in the thread before, this will be a great way to look at the charts for quick identification of impulsive and corrective moves.

Hope this helps someone out there

ciao
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Nothing is true, Everything is permitted
  • #1,748
  • Mar 29, 2010 9:59am Mar 29, 2010 9:59am
Sho e/j trade stopped out of short is a reverse trade legitimate to take on break of green hammer long?
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  • #1,749
  • Mar 29, 2010 11:27am Mar 29, 2010 11:27am
tonight i will post todays my fx trading P/L
  • #1,750
  • Mar 29, 2010 11:57am Mar 29, 2010 11:57am
Quoting mystery23
Okay, so i said i will post something to help people out.

I lot of Sho's method revolves around identifying Impulsive and Corrective moves, and also drawing a lot of lines on charts.

Why don't we make our lives easier?

Have a look:

Here is the normal GBP/JPY H1 chart followed by the same chart with clearer moves. Simply by changing candlesticks to line chart.
Now you can clearly see the moves, without distraction from the different candlestick formations for a moment.

I know it may seem obvious, some of you may or may not be using it....
Hi Mystery23

I had this thought myself for a while last year, but I think it is better with candles or bar charts because it is important to know not just WHERE Price Action got to but also HOW it got there.

I could be wrong but seeing the way wicks form and how Price responds to certain levels tells us a lot about momentum and also gives us clues as to whether a corrective move is becoming an impulsive move or if an impulsive move is becoming a corrective move and so on.

Maybe you could post some examples of why you feel it is better.

Alan
bringing order to chaos....
  • #1,751
  • Mar 29, 2010 7:20pm Mar 29, 2010 7:20pm
this is not my main account.its a taste of my account.and what u can do
why i am showing this because of u to understand what u can expect from trading.
scalping is very hard.
but onece u learn the trading its easy. this is only todays trades in few hours with small lot.
today
i did started trading with capital
about 5441
closed the fx trades with total of about
5792
thats about 351 profit in few hours.total 21 trades.i know its too much trades but it doesnot matter as long as u make money

if you trade in ur first year with only a small account with 5000 dollar
140 days profitably and return every day avarage 351 dollar . and you take out the money everyday from ur account.even if u dont compound
that is
140*351=49140
thats a huge return with only a 5000 account.
thats more than 900% return in one year

after the first year if you put 49140 and take out original 5000 from account and trade them .
can u immagine how much will be 900% of 49140 dollar.
can u understand what u can expect from trading.

i think someone can explain better than me.i am very bad at explaining.
i am not encoureging anybody to scalp the market.u should understand what is best for u.
remember scalping is not for everybody.
all the best
sho
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  • #1,752
  • Mar 29, 2010 9:56pm Mar 29, 2010 9:56pm
Quoting trade price
i am showing this because of u to understand what u can expect from trading.
That's really awesome ........ I doubt I could do this in demo ..... lol ..... specially with all those pairs !!!!

I could't see on your statement how long were you, on average, in a trade ..... so when you have a chance please post it (if you don't mind).


Thanks Sho for all your posts and for showing us with your statement it is possible to tame the beast :-)

.
  • #1,753
  • Mar 30, 2010 3:21am Mar 30, 2010 3:21am
what candlestick patterns are in your opinion the most reliable sho?
  • #1,754
  • Mar 30, 2010 4:54am Mar 30, 2010 4:54am
Quoting trade price
this is not my main account.its a taste of my account.and what u can do
why i am showing this because of u to understand what u can expect from trading.
scalping is very hard.
but onece u learn the trading its easy. this is only todays trades in few hours with small lot....
Thanks for posting your statement Sho, very impressive performance. Looking at your trades I can see that what I'm probably missing...the intuition of knowing when to pull the plug on a trade.

I very rarely manage to enter with less than a 10 pip stop. Therefore my target becomes 20-30 pips. Throughout the entire day on your trading statement you only took 20+ pips 3 times. Many of the other trades took between 8 and 15 pips.

Now either I'm missing some great low risk entries (4-7 pip risk) or you are seeing the warning signs that I'm not and cutting trades early. I think it's probably the latter.

Anyhow, whatever you're doing, you've proven it can be done!

Cheers

Dave
  • #1,755
  • Mar 30, 2010 5:20am Mar 30, 2010 5:20am
Quoting Sutts
Looking at your trades I can see that what I'm probably missing...the intuition of knowing when to pull the plug on a trade.
Morning Dave,

Same with me also , have to fine tune to enter at the very earliest .

Hope we will be guided by the master.

Hari.
  • #1,756
  • Mar 30, 2010 7:17am Mar 30, 2010 7:17am
Hey Sho,

Excellent results for a few hours at the screen, but I notice that you have placed the same no. of lots on every pair and trade.

What i understand is, you are showing us trade management, which is very very important, but you didnt display any money management.

You have placed trades with stop losses from 5 - 25 pips, telling us that was the amount of pips you were willing to lose on that trade.
But money management also says you are willing to lose UPTO 2% capital per trade, which should be translated into different lot sizes, not fixed 0.5 lots.

So, if i am making a trade on a $5000 account, 2% risk is $100.
For a 5 pip stop loss, I'm willing to have UPTO $20/ pip to make 2:1 R/R with 10 pips resulting in $200 profit!!
For a 20 pip stop loss, I'm willing to have UPTO $5 /pip to make 1:1 or 2:1 R/R depending on trade, yielding in $100 profit rather than $25 or $35.

I understand the platform your using doesn't allow you to be fast and flexible.
But if we were to apply money management with trade management on every trade, the results would be very very different.

Does anyone disagree??

I'm not trying to teach anyone money management, but I believe daytrading and scalping will only be lucrative, if proper money management is implemented with even better trade management.

What do you think Sho??
Nothing is true, Everything is permitted
  • #1,757
  • Mar 30, 2010 7:52am Mar 30, 2010 7:52am
Quoting mystery23
Hey Sho,

Excellent results for a few hours at the screen, but I notice that you have placed the same no. of lots on every pair and trade.

What i understand is, you are showing us trade management, which is very very important, but you didnt display any money management.

You have placed trades with stop losses from 5 - 25 pips, telling us that was the amount of pips you were willing to lose on that trade.
But money management also says you are willing to lose UPTO 2% capital per trade, which should be translated into different lot sizes, not...
I think that Sho just tried to show us what can be done as a lot of us were struggling with the exits.

At this level off experience I think Sho knows exactly what he is doing.

  • #1,758
  • Mar 30, 2010 8:40am Mar 30, 2010 8:40am
Quoting matlobien
I think that Sho just tried to show us what can be done as a lot of us were struggling with the exits.

At this level off experience I think Sho knows exactly what he is doing.

I totally agree. Sho knows what he is doing.
I'm just helping explain, what Sho was trying with the 140 days and no compounding and the $50k.

The truth is, even if you are scalping, you are still looking for low risk-high probability trades. When you have those 2 conditions met, with the right setup as taught by Sho, you don't want to make the same amount on every trade, because that is not practical.

Let's go back to Sho's example, if you start of with $5000 in your a/c and make $351/day. In 14 days your a/c will be $10000.

If you have $10000 in your a/c why are you still making $351/day and not $702/day?

That's why money management is crucial.

Of course to consistently make $351/day you need to have EXCELLENT TRADE MANAGEMENT SKILLS.
Nothing is true, Everything is permitted
  • #1,759
  • Mar 30, 2010 9:28am Mar 30, 2010 9:28am
Sho

That was impressive!
Was that done with what you have taught us ie 30%, or your entire 100%?

  • #1,760
  • Mar 30, 2010 10:25am Mar 30, 2010 10:25am
Quoting mystery23
Let's go back to Sho's example, if you start of with $5000 in your a/c and make $351/day. In 14 days your a/c will be $10000.

If you have $10000 in your a/c why are you still making $351/day and not $702/day?

That's why money management is crucial.

Of course to consistently make $351/day you need to have EXCELLENT TRADE MANAGEMENT SKILLS.
you dont have 10000 in your account cause Sho said:
140 days profitably and return every day avarage 351 dollar .
Quote
and you take out the money everyday from ur account
.even if u dont compound
that is
140*351=49140
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