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The Dance

  • #681
  • Apr 21, 2010 1:07am Apr 21, 2010 1:07am
Quoting Troikaone1
I have overlayed my system onto your charts and would have been able to make hundreds of pips using simple support and resistance concepts.
PROVE IT. Start your own thread and teach others to do well.
I am sure your post probably represents your hurt ego from failure to achieve something in trading. It's OK, we understand... Try selling hot-dogs, easier and less stressful.
  • #682
  • Apr 21, 2010 1:11am Apr 21, 2010 1:11am
Quoting endroute
I would more than likely take the trade, but I would drop down to the 5min charts just to confirm. I do really like to see the touches though
hi endroute, im not very proficient with what to look out for when i drop down to the 5min. would it still be 10/35/50s bounces as well?
  • #683
  • Edited 7:22am Apr 21, 2010 2:27am | Edited 7:22am
Quoting Troikaone1
You come off as being arrogant or someone trying to lecture folks....
I don't think Clay has an ego to hurt. If you read back through the thread, he is the first to admit the he is still to master trading, master his system and openly admits to taking bad trades. Not the words and actions of a man with an ego as far as I can tell.

You're never sure of anything in this world but as far as I can judge, Clay wanted to create something that can get budding traders off the ground with the least amount of headaches and lost trades possible. He wanted to do this to give back and because he recalls how hard he found it at the start. It isn't designed to give the trader 30 trades a day because that's not the aim. The aim is to get traders consistently profitable. So, big talk about how many pips you make isn't really of interest around here i'm afraid.
  • #684
  • Apr 21, 2010 4:43am Apr 21, 2010 4:43am
I guess its laws of gravity or something that we were bound to get the likes of Troic...such a shame.. but moving on... we have a cool lot of traders on here and should we get more of the likes of him... we should just ignore...

I have seen a few great threads destroyed by it and the shear joy of learning and growing with other traders get lost
  • #685
  • Apr 21, 2010 5:41am Apr 21, 2010 5:41am
Quoting yunielescaz
hi endroute, im not very proficient with what to look out for when i drop down to the 5min. would it still be 10/35/50s bounces as well?
the trade we were talking about was actually a great example of this too, if you look at the the 5min chart just about when the 15 candle was going to close you see a nice long legged doj that bounced right off o the 150 (the 15min 50 equivalent) and if you waited a little bit the next 5min candle goes right on down to the touch and retest the 150, the retests happen a lot. I would put the stop 3 pips + spread below the 50/150

Now I am not advocating that you guys start trading the 5 but it is useful to look at the candle formations and related pa sometimes to fine tune and entry or as added confirmation you should take a trade.
  • #686
  • Apr 21, 2010 5:57am Apr 21, 2010 5:57am
Quoting Troikaone1
You come off as being arrogant or someone trying to lecture folks....
go somewhere else and be a TROLL
  • #687
  • Edited 7:18am Apr 21, 2010 7:17am | Edited 7:18am
Quoting Troikaone1
You come off as being arrogant or someone trying to lecture folks. I don't need you to lecture me on proper forum etiquette.
Wow!
What a shame to come over one of the greatest and most seriously handled threads, get a long detailed answer from Clay -- who spent quite a lot of his precious time answering you !! --
just to throw that kind of crappy comment in the end...


Clay, i believe this is the first post in 46 pages/686 posts in this thread, and i call that a truely GREAT PERFORMANCE !

Thanks again for your endless patience, keep it up and MODERATED!

Sq.
  • #688
  • Apr 21, 2010 7:40am Apr 21, 2010 7:40am
Thanks for the support guys. It's been handled, he's on the iggy list with about 70 others who did similar things on other threads. Let's move on now and work on the trading. No reason to speak of this again.

I got some sleep last night and feel much refreshed. Still have a really rough schedule for a few weeks, but it's a lot better after that.

So, I will probably trade a bit less, for a while. As Endroute and Yunie can avow, I make bad trades when I'm tired. My analysis is still good just seem to do things a bit backward.

In any event, good trading and God bless.
  • #689
  • Apr 21, 2010 7:51am Apr 21, 2010 7:51am
should have stayed up!
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  • #690
  • Apr 21, 2010 1:45pm Apr 21, 2010 1:45pm
Quoting Troikaone1
You come off as being arrogant or someone trying to lecture folks. I don't need you to lecture me on proper forum etiquette.
He he...nice man.. is this your normal way of posting in threads... Has somebody asked whether you impressed with Dance or not ?
  • #691
  • Apr 21, 2010 9:57pm Apr 21, 2010 9:57pm
I have read through the manuel 2 times and through the thread and maybe I missed it, but I am still unsure of how to enter in constrainment environment. What bar do I enter on, do i wait for COB? I know that I enter short if the price is closing below the 35/50 MA, and the opposite for long, but I just can't figure out exactly when to get in the market? Can you help? Sorry that I'm not getting it so quickly.
  • #692
  • Edited 10:34pm Apr 21, 2010 10:33pm | Edited 10:34pm
Quoting techfan1128
...but I am still unsure of how to enter in constrainment environment. What bar do I enter on, do i wait for COB? I know that I enter short if the price is closing below the 35/50 MA, and the opposite for long, but I just can't figure out exactly when to get in the market? Can you help? Sorry that I'm not getting it so quickly.
No worries Techfan, welcome to the thread. Most "constrainment entries will by default be on at least the third bar, and often the 4th or 5th. If you miss the third bar, or simply if you want more confirmation and the market is moving a bit slower than normal, then it will be the 4th or 5th bars.

In rare instances, I have even seen constrainment entries that were still solid entries on the 8th or later. The entry is almost always at COB, but can be (rarely) at the OPEN of the next bar especially if price is "hugging" the line a bit.

Also, constrainment entries can also be against the 10, so don't discount it. Open the Simulator, let it run and just watch, looking exclusively for those entries for a while and you will start to get a "feel" for how they "look" in "real time."

If possible, download enough data to allow you to go back several years, perhaps to as far back as 2005 as the early part of that year was pretty nasty, but you can still see pretty clearly how powerfully these entries work.

Take your time, grow slowly and you'll get there. Remember, it's a journey, not a destination.
  • #693
  • Apr 22, 2010 5:20am Apr 22, 2010 5:20am
Hi Clay
i have not started dancing but my legs and hands have started move. my question is the touch of the 10 should be taken on the touch with the angular rule obeyed but that of the touch of the 35/50 should be taken when? provided the angle is above 20.
there are times when the 35/50 are either of s/r level with the angle less than 20 and are always good trade, what should i watch out for in this case?.
thanks for the strategy hope my body will join the hands and legs in the dance soon.
  • #694
  • Apr 22, 2010 6:58am Apr 22, 2010 6:58am
Did not take this trade but is it a "by the rules" touch trade. I didn't like it because of all the bars before the retrace, but considered it because of the confluence of the 10ma and RN.
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Barry
  • #695
  • Apr 22, 2010 7:02am Apr 22, 2010 7:02am
I did take this trade for +10 after tighten the s/l, got nervous after my trades yesterday. This looked to me to be a "better" setup.
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Barry
  • #696
  • Apr 22, 2010 7:31am Apr 22, 2010 7:31am
Quoting kamardinho
....my question is the touch of the 10 should be taken on the touch with the angular rule obeyed but that of the touch of the 35/50 should be taken when
The angle of the lines when the "Touch occurs on the 35 or the 50 isn't quite as critical as with the 10, but it is still important. Unless there are other factors indicating the trade will be solid, such as "confluence" at a RN, really strong trend on H1, or prior P/A of some kind, I still personally like the "angle" to be 20 or more in the direction of the trade I am considering taking.

The "tighter" the 35/50 lines are, the more likely it will bounce on the Touch and not "wick through" even a few pips. Good "touches" are also when a candle "Dead ends" exactly at the line.

This concept is addressed pretty extensively earlier in the thread. It would be a good idea for you to go back through it a bit and research that.

You'll get there. Just be patient with yourself and don't expect too much early on. It really is like learning to walk or to dance.
  • #697
  • Apr 22, 2010 7:39am Apr 22, 2010 7:39am
Quoting Bary
Did not take this trade but is it a "by the rules" touch trade...
Yes, it is "by the rules" but I would have watched it really close and kept as short an SL as possible on it mainly because we don't really know the "timing" of these things and it "normally" will bounce really nice at a place like this, but can also run back up to the 35/50 lines.

IF I had taken this trade, and it went my way back down, I would have moved to BE fairly quickly and looked closely when Price hit that lower area of support indicated by the other bars just prior.

That is the are that is really the more critical area. Do you stay in or take your pips? If you had taken it exactly at the "touch" you could move to be quickly and try to let it run, which is the way I probably would have traded this.

Short answer, yes, it is "by the rules" to take a trade like this one.
  • #698
  • Apr 22, 2010 7:44am Apr 22, 2010 7:44am
Quoting Bary
I did take this trade for +10 after tighten the s/l, got nervous after my trades yesterday. This looked to me to be a "better" setup.
Very similar to the other one actually, and if you look at H1, strong down trend to confirm the entry as well. Not sure how far it will go as it's counter-trend to D1, but strong enough for at least a few pips,,,
  • #699
  • Apr 22, 2010 7:50am Apr 22, 2010 7:50am
Significant day for me and I wanted to share it with you. Also this is my way of thanking Clay.

So with Clay's "smoke and mirrors"(1) and the Dance today I added a digit to my account!!!!Very close to tripling my account also. Today was also 30 trading days using the Dance.

Kostas

(1) I am not sure if it was the smoke or the mirrors but Troikaone1 you can eat my dust.....
  • #700
  • Apr 22, 2010 7:53am Apr 22, 2010 7:53am
Quoting kostas1
Significant day for me .......today I added a digit to my account!!!!Very close to tripling my account also. Today was also 30 trading days using the Dance.
Kostas, I couldn't be happier and there is no higher compliment than to see another trader making it!

Gotta run,,, the next 4 weeks are a killer time wise for me,,,, but after that life settles down a bit.

God bless and good trading to you all,,, even the troglodytes that wanna bash everyone,, hope you all trade very, very well.

Clay
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