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The Dance

  • #521
  • Apr 7, 2010 9:57am Apr 7, 2010 9:57am
Quoting pipsacker
Clay .....Thanks for sharing your system. I have been following it since the beginning. Still watching the charts, trying to follow the rules, but no trades yet.

Juneman .... Downloaded MIRC, but cannot find "The Dance" listed under Quakenet. Is it open during the London/NY overlap?

Good trading to all!

pipsacker

Hi Pipsacker,

You need to select quakenet as the server. Let me know if u need anymore help. I am on the IRC server from 6.45am GMT
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  • #522
  • Apr 7, 2010 9:57am Apr 7, 2010 9:57am
Yunie, I see what you are talking about but one thing that I have noticed over time is that physics come into play on big moves. For every action that is an near equal and opposite reaction. It went right through the 35/50 but stopped around the 35 H1. My fear is that you play ping pong on all these MA's for a while because we have seen 2 big moves and it always seems to slow after that for a while. I am very cautious about doing anything on the G/U as it rattles around inside all those MA's.
  • #523
  • Apr 7, 2010 10:15am Apr 7, 2010 10:15am
Hi Juneman,

I have already tried that, but there is no listing for "The Dance" under the Quakenet server. Maybe it is not open during the London/NY overlap
(1200-1600 GMT).
Thanks.

pipsacker
  • #524
  • Apr 7, 2010 11:29am Apr 7, 2010 11:29am
Quoting pipsacker
Hi Juneman,

I have already tried that, but there is no listing for "The Dance" under the Quakenet server. Maybe it is not open during the London/NY overlap
(1200-1600 GMT).
Thanks.

pipsacker
just type in #Dance and then join, then you should be connected.
  • #525
  • Apr 7, 2010 12:02pm Apr 7, 2010 12:02pm
Quoting eclayf
The purpose of this thread is to share my journey in Forex Trading and to teach the strategy I have developed with the help of a very good friend and from the input of reading most of the FF threads, many, many books on various strategies, mental discipline, psychology and such.

...

God bless, and good trading to you all
Clay

P.S. here is a link to the page with a newly updated manual and tools zip file. Enjoy! Post #256 (http://www.forexfactory.com/showpost.php?p=3568994&postcount=256)
Clay,

the Factory needs more people like you - looking to share wisdom and get rid of childish BS. Keep up the good work. You have my vouch and respect. Too bad I ran into your thread that late.

Regards
Stan
  • #526
  • Apr 7, 2010 12:44pm Apr 7, 2010 12:44pm
Quoting yunielescaz
... this will be my AHA! moment. so much easier to see this after u pointing it out. so direction of m15 n 1hr 35/50s agreeing with each other will be a good confirmation?

1 question: about the "turning" of the 10ema. i hardly trade these 5/10s but on the retracement back to the 35sma, doesn't 10ema always "turn" since it hugs price so closely? i read somewhere in the earlier posts by u speaking about the angle of 10emas if they were too steep the momentum of PA usually bashes thru 35/50 and thus to stay away from those touch trades. probably...
Hi yunie, if they are both going in the same direction is is a confirmation of the strength of a particular type of trade on M15, but don't make too much of it or you'll miss some good trades. Often a trade on M15 is a COUNTER TREND on H1, but usually only a short one and almost always taken off the 35/50 lines.

As for "turning" the BEST "touch" trades DO NOT "turn" the 10, but many times it will turn if the LAST MOVE was a pretty big one. Just be careful when you notice it's TURNED, not "turning," though that is also a warning signal to be careful.

This "Touch" actually turned into a "double top" where two bars topped at exactly the same point. A bar apart, but still qualifies as a "double top" for S/R purposes.
  • #527
  • Apr 7, 2010 12:45pm Apr 7, 2010 12:45pm
Quoting kostas1
Here is one 30 pip trade for me (daily target).
Took the trade from constrainment (rare for me, I usually take touch trades). The constrainment was M15 35/50 and round number. The same area was also confluence of M5 35/50. The target was my daily 30 pips profit but was also touching H4 35 so I didn't let it go (I think it will go lower though).

Kostas
Good trade Kostas
  • #528
  • Apr 7, 2010 12:46pm Apr 7, 2010 12:46pm
Quoting yunielescaz
1 good thing about this strategy is we can pre empt and see entries comin so we can prepare ahead of time. here's an example. 35/50 converging at 1 spot with 1hr 35sma close by. then again 10EMA has "turned" up. mayb i should wait for clay's explaination about the turning issue before i take this.
It DOES give you plenty of warning that a trade is "coming" one of the great things about it. Hope my explanations of "turned" and "turning" already have helped.
  • #529
  • Apr 7, 2010 12:46pm Apr 7, 2010 12:46pm
Quoting pipsacker
Clay .....Thanks for sharing your system. I have been following it since the beginning. Still watching the charts, trying to follow the rules, but no trades yet.

Juneman .... Downloaded MIRC, but cannot find "The Dance" listed under Quakenet. Is it open during the London/NY overlap?

Good trading to all!

pipsacker
Welcome pipsacker. Have fun and enjoy!
  • #530
  • Apr 7, 2010 12:48pm Apr 7, 2010 12:48pm
Quoting Setebos
.....You have my vouch ...... Too bad I ran into your thread that late.
Thanks for the vouch Setebos, and welcome. You'll catch up quickly. One of the great things is that this strategy is extremely "visual" and pretty easy to pick up on.
  • #531
  • Apr 7, 2010 12:51pm Apr 7, 2010 12:51pm
Great work guys. Gotta run but I'll be back on late tonight. Love to see everyone working together so well. Awesome,,,, just awesome.

Also, Juneman is going to try to setup a chat on a site he owns, just remember to keep the same type of ethics and good conduct there as well so everyone benefits. Also, remember that this is not a part of this thread, but a private effort by well intentioned people

So,,, good trading to you all, have fun and God bless until tonight.

Clay
  • #532
  • Apr 7, 2010 1:40pm Apr 7, 2010 1:40pm
Quoting eclayf
Great work guys. Gotta run but I'll be back on late tonight. Love to see everyone working together so well. Awesome,,,, just awesome.

Also, Juneman is going to try to setup a chat on a site he owns, just remember to keep the same type of ethics and good conduct there as well so everyone benefits. Also, remember that this is not a part of this thread, but a private effort by well intentioned people

So,,, good trading to you all, have fun and God bless until tonight.

Clay

Cheers Clay,

OK here is the site www.fxinvestor.co.uk. It is a simple chat program where you are able to just chat to anyone who is online.

Like Clay said this has nothing to do with this thread its just a thank you from me to him. Thank you again Clay

There are links from the site back to this thread so remember to keep posting on here. I will be on the live chat from 6.45am GMT each morning so if anyone is around come and say hello
  • #533
  • Edited Apr 8, 2010 1:53am Apr 7, 2010 1:41pm | Edited Apr 8, 2010 1:53am
Hi Clay and all in the group,

My first post in this thread. Thanks Clay for sharing your work and helping us in such a passionate manner.

Sorry for any confusion created.


TF
  • #534
  • Apr 7, 2010 4:53pm Apr 7, 2010 4:53pm
Quoting eclayf
Thanks for the vouch Setebos, and welcome. You'll catch up quickly. One of the great things is that this strategy is extremely "visual" and pretty easy to pick up on.
You're welcome, it's my pleasure I'm not really looking to pick a trading method (even tho I'm all about learning being a lifetime process), however I do admire people looking to share knowledge on the condition of having clever enough audience.
Using their own brains and dealing with their own ego seems to be one of the impossible tasks for most of the participants on this forum.
  • #535
  • Edited 12:43am Apr 8, 2010 12:39am | Edited 12:43am
Quoting TradeForexFx
....Attaching some indicators that might be useful....TF
Hi TradeForexFx and welcome. I want you to participate in the thread, and all are welcome, but you MUST read post one again.

When Swingman posted his indicators, the were indicators that aggregated the lines into a single indicator, and a MTF version. I probably should have said something about the one that opened a sub window with "signal" lines in it and totally forgot about it.

I'm not going to ask you to remove your's for that reason. BUT I AM asking you to NOT post charts with that bottom part in it and to remove the indicator that creates it from the zip file you attached. The indicator that changes colors from red to blue is basically just another type of oscillator which is STRICTLY FORBIDDEN on this thread.

I KNOW your intent is good and you ARE trying to help. I ALSO KNOW that the complexity it adds to the chart seems minimal, BUT when entries are based so very clearly on "touches" and "constrainment" at a Moving Average, a RN or a P/A S/R level, waiting to see if the color changes on that indicator would cause MANY to miss the best entry and to begin to watch the indicator INSTEAD of Price Action and how it moves near the lines.

NOW, lets talk about the arrows a bit. IF you can find a way to make it STOP painting the arrows below price when price is in the area where only "shorts" are valid, and stop painting arrows above price where only "longs" are valid, then maybe you have something which MIGHT have some value.

One of the MAIN rules in this strategy is that we ONLY short when price is BELOW the 35/50 lines, and we ONLY long when price is ABOVE those lines. Having it paint arrows in contradiction to that would really, really cause a newbie a major problem.

Most newbies have little to no confidence anyway, and expecting them to even try to comprehend those contradictory signals is way beyond what I can have here. People learning this strategy could probably be expected to learn to filter some of the arrows signaling in at least the right trade direction, but not counter to it.

I believe that there IS a way to have an indicator that would paint at the proper place on a "touch" but it would take some pretty significant logic to make it work right.

We just need to be extremely careful about this sort of thing, or we'll have everyone trying to post the newest, most creative, worthless indicator and as I said in post one, I WILL NOT allow this thread to go down the "indicator envy" road even a single step, not one.

When you elimnate that indicator, could you also please clean up your post a bit to delete the comments about it and perhaps upload an image without it on the image?

In short, thank you for posting, for being willing to try to help, for doing a good job on the image. We really DO want you to participate, but get rid of that bottom indicator immediately. We also DO want you to see if you can tweak, or see if someone else can tweak the indicator that paints arrows so they ONLY paint in accordance with the rules.

If for some reason the post locks and you can't edit it within a day or so, I'll call for a cleanup on the post, but WE WANT YOU to continue to participate.

Please understand.
  • #536
  • Apr 8, 2010 12:40am Apr 8, 2010 12:40am
Morning,

A bit of a slow morning this morning, however, was able to place a short on the eu. Now it does not quite touch the 50, but i got in because i noticed some near by resistance around that area around 1.33370 and felt price will fall, plus overall trend is a short, (a touch on the 10ema on the 1hr chart)

Now i moved my sl to break even so nothing to lose now, (sl was 7pips initially) Think i got my eureka moment yesterday! but these next few weeks will be turning point for me with my trades, Eclay and yunie your thoughts please
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  • #537
  • Apr 8, 2010 12:45am Apr 8, 2010 12:45am
Not as good with the chart posting, but thought i showed you the trade in progress(my eu trade from above, i have now locked in 2pips)
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  • #538
  • Apr 8, 2010 12:48am Apr 8, 2010 12:48am
Quoting nixie20
... Think i got my eureka moment yesterday! but these next few weeks will be turning point for me with my trades, Eclay and yunie your thoughts please
The entry is decent, and as long as you area already at BE, you should be fine. Just keep an eye on it as the area it's in is an "iffy" area where the 35/50 lines are going sort of horizontal and are separated a bit.

Overall though it looks ok so far.
  • #539
  • Apr 8, 2010 1:07am Apr 8, 2010 1:07am
Quoting eclayf
The entry is decent, and as long as you area already at BE, you should be fine. Just keep an eye on it as the area it's in is an "iffy" area where the 35/50 lines are going sort of horizontal and are separated a bit.

Overall though it looks ok so far.
got stopped out, but walked away with 2pips , so all is well!, my risk was quite minimal anyway at 7pips sl so overall a low risk trade for me this morning,
  • #540
  • Apr 8, 2010 1:20am Apr 8, 2010 1:20am
it did become a 50ma touch in the end. i was lookin at it but was busy eating lunch so i didnt take it. 1hr 35/50s were also 45 deg down showing a good short trend. its already good for 20pips congrats! daily S1 coming up 1.3307. might see some hesistation there but if it does break thru. u've got a runner!
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