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The Dance

  • #441
  • Edited 8:08am Apr 5, 2010 7:29am | Edited 8:08am
Welcome Squalou, glad to have you. Decent trade Juneman. Just be careful today. I expect today to be a bit sideways because of the lack of volume from the Easter weekend.

At some point it may have a decent move, but I expect it to be a short and a re-test of the D1 10EMA.

Not sure I'll trade today yet or not. But I'll keep watching the charts to see if I get a good signal. Gotta run out for a bit right now though. Back in about an hour or so. Then we'll see.
  • #442
  • Apr 5, 2010 12:31pm Apr 5, 2010 12:31pm
Yep, kind of a doggy morning. Didn't expect much, do expect it to go lower but not until later today. I'm off 'til them. Made one BE trade and one small loss trade. Knew I should have left it alone.

Next!
  • #443
  • Apr 6, 2010 12:54am Apr 6, 2010 12:54am
Look at how many trading opportunities we have this morning... man.. i was sleeping when all this was happening. thanks to germany talking about raising borrowing rates to greece. hate the timing of euro news. here my analysis:

1st red arrow: retest after breaking thru 50ema which coincided with 5ema

2nd: bounce off the 1hr 35/50 which was directly over each other

3rd: 1 bar retrace to the 5ema( 5ema still works fine for me in strong trends to the point that PA hardly goes to 10ema for me to re enter). my bad the 3rd arrow should be 2 bars after 2nd arrow. thus my last 2 arrows should become the 4th n 5th for 5ema bounce.

4th: another 5ema bounce. actually theres much more 5ema bounces in this chart.

price began to slow once it passed daily S1 so im hesitating on entry now. who said asian sessions were boring LoL. if only we can get news warnings on earlier notice.

very similar stories on the E/J and E/U bounces off all the 5/10emas on strong down trend
Attached Image (click to enlarge)
Click to Enlarge Name: gu m15.gif Size: 16 KB
  • #444
  • Apr 6, 2010 1:19am Apr 6, 2010 1:19am
Yunie, looks like about the only entries today were off of the 5 EMA if it's on the chart. I don't use it because it's not all that reliable, at least not for me, though Endroute does well with it. All in all,,,, seems to me like it was a very, very low volume day and I stayed out pretty much all day long. There are times like this with every strategy, but the normal times more than make up for it.

Off to bed, we'll see about the Asian/London overlap in a few hours, then maybe again with the NY/London.
  • #445
  • Edited 2:27am Apr 6, 2010 2:11am | Edited 2:27am
yea i dont really use it as well. unless the trend is really very strong like today. here is another pic. look at the last bar i have been eye it all the way up. a great place to enter with 35/50 so close to each other together with a RN and 1h 50ema. sadly it missed the touch of 35 by 1pip and i missed the whole ride. on its way down, the 35sma repainted at its tip to touch the top wick of the 15m candle nicely. mayb we should enter about half a pip early to counter the repaint of the tip of the 35sma. wasnt a touch when i saw it going up. became a touch after it moved about 15pips down. rueing all the chances that are flying past me.. unable to catch them as they come. this baby would be worth 50 pips rite now(15mins after touch)

gota keep tellin myself it will happen again. lets wait for another signal as great as this.
Attached Image (click to enlarge)
Click to Enlarge Name: gu m155.gif Size: 18 KB
  • #446
  • Apr 6, 2010 2:13am Apr 6, 2010 2:13am
Here is my trade that i am still in at the min very nice bounce off the 35ma
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd15min.gif Size: 21 KB
  • #447
  • Apr 6, 2010 2:22am Apr 6, 2010 2:22am
HI Clay,

Hope you had a good time over Easter. I mentioned last Thursday that I wanted to ask you a question regarding your stop loss. I'll be honest, I don't have the scripts loaded on my MT4 as they'll get in the way of other things i'm doing. However, having looked into it, it seems to me that you have it set up in a way that the initial stop loss is 19 but the 2% risk is set at 15. i.e, when you initial put an order down, your risk is actually about 2.5 but you expect to move it to a minimum of 15 straight away, most of the time. Is this right?

What I was wondering though is whether you tinker with this. Some set ups have so much protection that there is no sense in having a 15 pip stop loss and something like 9 or 10 will do, as you've obviously suggested many times. In these circumstances, do you just change the scripts so you 15 pip SL at 2% instantly becomes a 10 pip stop loss at about 1.3% risk? If so, why would you not keep the 2% risk at 10 pips and give you far greater profit potential?

I'm not sure if that all makes sense but it's difficult to make proper sense of! Hopefully you understand what i'm getting at......
  • #448
  • Apr 6, 2010 2:41am Apr 6, 2010 2:41am
Great entry Juneman, I missed that one, was in the shower,,, . Sometimes it happens like this. Can't nail 'em all I guess.

Trotty, yes, the risk level is based on 15 pips because most of the time these entries will give you an easy 15 to 20 pips without hesitation. The reason for 19 pips as the preset SL is that there are times when it will "spike" before you get to move it down, then drop immediately back to where it was. So at times having a bit more "cushion" especially for newbies is a very, very good thing.

Yes, I do tinker with it. I have modified my own scripts to set the SL at 12 pips on every trade. There are times I move it VERY close and there are times when I will "hide" it behind the next MA or the next P/A S/R level. It all depends on my discretion from experience, but the way the scripts are set should allow the greatest amount of flexibility in managing a trade.

Hope this helps.

By the way Juneman, you nailed probably the absolute best entry of the entire day. Nice trade my friend, very nice trade.
  • #449
  • Apr 6, 2010 2:46am Apr 6, 2010 2:46am
Quoting eclayf
Great entry Juneman, I missed that one, was in the shower,,, ....
It does help. At the moment, I haven't used much more than a 11/12 stop loss as i'm going for low risk enteries. I might be trying out a few more of the normal enteries today to up my activity rate.

Thanks Clay, happy trading....
  • #450
  • Apr 6, 2010 2:52am Apr 6, 2010 2:52am
Cheers Clay its nice to hear that from you I was thinking that it was a little late and before i was going to take it i was going to wait for the bar to close.
Can i ask do you take the trade as soon as the 35ma/50ma gets touched even if there is still say 6 minutes until the candle closes?
  • #451
  • Apr 6, 2010 3:05am Apr 6, 2010 3:05am
Funny,,, the very next trade uses some of what we talked about Trotty. Notice where the SL is in this entry, which was fine tuned when the bars couldn't break the RN, then it went against me a bit, but the SL was already just past a decent P/A S/R level already, so I didn't need to move it for additional protection.

Not a great trade, but OK and + pips.

Here are the charts. I may re-enter at the 10 EMA,,, depends we'll see how price acts there.
Attached Images
  • #452
  • Edited 3:14am Apr 6, 2010 3:11am | Edited 3:14am
Hey, guys,,, we now have the vindication of thieves that The Dance works really well. Chazbp sent me a PM to point out it's now for sale on Ebay.

WHY OH WHY would ANYONE PAY for something they can find with a mouse click FOR FREE?

Hilarious,,, just hilarious.

Quoting chazbo 3071
http://cgi.ebay.com/25-95-For-My-Forex-Trading-System-Made-On-MT4-platform_W0QQitemZ110514822416QQcmdZViewItemQQptZLH_DefaultDomain_0?hash=item19bb325d10

You have been very generous sharing your system. I thought you would want to know about this.

Charlie
Hahhahahahahahah,,, too funny,, toooo funny. Thanks Chazbo.

By the way Chazbo,, there really isn't anything anyone can do about this. UNLESS they are using the PDF files from The Dance. THEN there is a copyright issue, but it's probably not worth trying to litigate. I do appreaciate the "heads up" though.

CAVEAT EMPTOR!,,,, buyer beware!
  • #453
  • Apr 6, 2010 3:17am Apr 6, 2010 3:17am
Quoting eclayf
Funny,,, the very next trade uses some of what we talked about Trotty. Notice where the SL is in this entry, which was fine tuned when the bars couldn't break the RN, then it went against me a bit, but the SL was already just past a decent P/A S/R level already, so I didn't need to move it for additional protection.

Not a great trade, but OK and + pips.

Here are the charts. I may re-enter at the 10 EMA,,, depends we'll see how price acts there.
Good example. I'd be toying with shorting EJ again now off the RN....
  • #454
  • Apr 6, 2010 3:21am Apr 6, 2010 3:21am
Quoting eclayf
Hey, guys,,, we now have the vindication of thieves that The Dance works really well. Chazbp sent me a PM to point out it's now for sale on Ebay.

WHY OH WHY would ANYONE PAY for something they can find with a mouse click FOR FREE?

Hilarious,,, just hilarious.



Hahhahahahahahah,,, too funny,, toooo funny. Thanks Chazbo.

By the way Chazbo,, there really isn't anything anyone can do about this. UNLESS they are using the PDF files from The Dance. THEN there is a copyright issue, but it's probably not worth trying to litigate....
Good grief. It looks like they have used your PDF and certainly simply plagarised your charts off the thread and PDFs. It's a pity that there are so many people who want to get rich by ripping off people's hard work rather than putting their efforts into learning from that hard work, putting their own in and building a business in the industry.

On the plus side, take it as a great compliment on your strat! ;-)
  • #455
  • Apr 6, 2010 3:24am Apr 6, 2010 3:24am
Just be careful Trotty, price is still a bit wierd at the moment. I'm off to bed again. Night all and good trading.

hahahahahaha,,, Now aren't you glad your not paying on Ebay for free stuff,,,, hahahahahaha,,,, haven't seen such a funny thing in a long, long time,,,,, I think I'll sleep with a smile on tonight for sure,,,, hahahahahahaahhah,,,,,,

too funny.
  • #456
  • Apr 6, 2010 3:24am Apr 6, 2010 3:24am
Quoting Juneman
Here is my trade that i am still in at the min very nice bounce off the 35ma
G'day Juneman
Just trying to get the rules of the Dance into my head. Even though your trade has a very nice movement did'nt the retrace exceed the 2 bar rule?
We are all One. Be present. Be the Observer
  • #457
  • Apr 6, 2010 3:25am Apr 6, 2010 3:25am
Quoting eclayf
Hey, guys,,, we now have the vindication of thieves that The Dance works really well. Chazbp sent me a PM to point out it's now for sale on Ebay.
lol the best bit is the title

"25.95$ For My Forex Trading System Made On MT4 platform

Which led me to financial freedom"


If it led to financial freedom why is he selling things on ebay what a nob head.

Clay you can contact ebay about this the same thing happened to me with a website i made. Just show them the PDF
  • #458
  • Apr 6, 2010 3:28am Apr 6, 2010 3:28am
Quoting Iamfx
G'day Juneman
Just trying to get the rules of the Dance into my head. Even though your trade has a very nice movement did'nt the retrace exceed the 2 bar rule?

I would say no it was 2 bars for me. The first green bar i don't count because it is like a support for the other 2.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd15min.gif Size: 94 KB
  • #459
  • Apr 6, 2010 3:28am Apr 6, 2010 3:28am
Quoting eclayf
Just be careful Trotty, price is still a bit wierd at the moment. I'm off to bed again. Night all and good trading.

hahahahahaha,,, Now aren't you glad your not paying on Ebay for free stuff,,,, hahahahahaha,,,, haven't seen such a funny thing in a long, long time,,,,, I think I'll sleep with a smile on tonight for sure,,,, hahahahahahaahhah,,,,,,

too funny.
I haven't taken it, you know i'm not that much of a risk taker!

Have a good kip mate.
  • #460
  • Apr 6, 2010 3:30am Apr 6, 2010 3:30am
Juneman,,, tell me more in PM and I might just do that, at least make the guy shut up or refund all the money to all the people he's stealing it from.... I hate liars.,,, would be great fun to cause him or her some problems.
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