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Intraday price action trend trading

  • #1,961
  • Apr 27, 2010 6:46am Apr 27, 2010 6:46am
Quoting FOURX
why would a long entry even be considered ,when it is a perfect momentum trade set up, as Sho has taught.

i wonder is if type of trade posting is contributing to his absence
Hei Fourx,

Thanks for the reminding and for my limited knowladge from Sho, I sill know we should trade with momentum. But what I see is the momentum is slowing down, what I waiting for is a start of buyers' force.

For sharing.

One thing straight, I do absolutely respect Sho.

City
  • #1,962
  • Apr 27, 2010 6:58am Apr 27, 2010 6:58am
again i closed the trade to early
more patience needed, a chance to get to the round number 800 before exit the trade.
i exited with 2 pips , could have been 10 pips easy

the main reason why i post this stupid trade, to blame myself and maybee getting over this bad habit of closing to early.
nobody wants to be a fool but thats what i am with those trades.


BTW, i had a beutifull short on EU during luchtime , i set TP close to the round number at 3305 and le´ft the trade alone. That works cause i was not there to mess around
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  • #1,963
  • Apr 27, 2010 7:05am Apr 27, 2010 7:05am
Quoting Buildcity
Hei Fourx,

Thanks for the reminding and for my limited knowladge from Sho, I sill know we should trade with momentum. But what I see is the momentum is slowing down, what I waiting for is a start of buyers' force.

For sharing.

One thing straight, I do absolutely respect Sho.

City
To me its all subjective if you look at eu its blasted straight through r/n but in normal circumstances would you take a trade with the r/n directly below yet its performed better than e/.j and gu
  • #1,964
  • Apr 27, 2010 7:06am Apr 27, 2010 7:06am
Quoting Buildcity
Hei Fourx,

Thanks for the reminding and for my limited knowladge from Sho, I sill know we should trade with momentum. But what I see is the momentum is slowing down, what I waiting for is a start of buyers' force.

For sharing.

One thing straight, I do absolutely respect Sho.

City
This area has a history.
It's certainly something to be aware of.
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  • #1,965
  • Apr 27, 2010 7:10am Apr 27, 2010 7:10am
Quoting francis2
To me its all subjective if you look at eu its blasted straight through r/n but in normal circumstances would you take a trade with the r/n directly below yet its performed better than e/.j and gu
Yes, Francis,

For EU I noticed the momentum down and the nice retrace pin 2 bars before. But coz the r/n I let the short pass.

Tks
City
  • #1,966
  • Apr 27, 2010 7:14am Apr 27, 2010 7:14am
Quoting priceaction
This area has a history.
It's certainly something to be aware of.
Tks Rob,

We surely can learn more from you about the H4 S&R, that is exactly I'm trying hard to study.

Cheers,
City
  • #1,967
  • Apr 27, 2010 7:27am Apr 27, 2010 7:27am
nice setup
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  • #1,968
  • Apr 27, 2010 8:03am Apr 27, 2010 8:03am
Quoting francis2
nice setup
I WISH
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  • #1,969
  • Apr 27, 2010 8:07am Apr 27, 2010 8:07am
Quoting francis2
I WISH
Nice trade, if you have

You surely have 10 screens to look for that huge pairs. I'm still looking at GU, flat............................
  • #1,970
  • Apr 27, 2010 8:28am Apr 27, 2010 8:28am
Take a rest, it's time to have a cup of coffee
  • #1,971
  • Apr 27, 2010 9:43am Apr 27, 2010 9:43am
e/j +18 didnt take inverted hammer due to long wick
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  • #1,972
  • Apr 27, 2010 10:05am Apr 27, 2010 10:05am
Long EU +7 in 5 mins
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  • #1,973
  • Apr 27, 2010 11:05am Apr 27, 2010 11:05am
What's happening? -300p jump!!

Hope there is no one in long position.
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  • #1,974
  • Apr 27, 2010 11:11am Apr 27, 2010 11:11am
Quoting Buildcity
What's happening? -300p jump!!

Hope there is no one in long position.
The Sachs Boys are getting seriously grilled.
  • #1,975
  • Apr 27, 2010 11:22am Apr 27, 2010 11:22am
Quoting Buildcity
What's happening? -300p jump!!

Hope there is no one in long position.
S&P cuts Greek bonds to Junk status, and downgrades Portugal. Oh, and Trichet is speaking also, lol.
  • #1,976
  • Apr 27, 2010 11:56am Apr 27, 2010 11:56am
Quoting Buildcity
Entry after the red OB and break the MA10, still get out too quick. otherwise a nice 20p

Edit: shit now +40, just a few mins after
Hi Build,

I notice the keltners have been replaced by a ma10 on your posts for the last week or two. How have you found this?

I have been leaning towards this approach recently in my "naked chart" quest and am curious to compare notes.

If you want you can post your thoughts on the main thread.

Thanks

Alan
bringing order to chaos....
  • #1,977
  • Apr 27, 2010 12:18pm Apr 27, 2010 12:18pm
Hi Alan,

Nothing special, SMA10 is always the same as KC centre line, you may try to overlap both then you see no different. I just want to get rid of all low priority stuff. No different to Sho's teaching. Or may be one day we can trade naked chart without any indicator.

I think this approach is noted somewhere in the main thread, and I don't want to confuse the teaching thread so better no posting again.

Happy trading.

Cheers,
City



Quoting AlanOne
Hi Build,

I notice the keltners have been replaced by a ma10 on your posts for the last week or two. How have you found this?

I have been leaning towards this approach recently in my "naked chart" quest and am curious to compare notes.

If you want you can post your thoughts on the main thread.

Thanks

Alan
  • #1,978
  • Apr 27, 2010 12:44pm Apr 27, 2010 12:44pm
Francis,

You are right, trading of EJ can always double your profit (or loss).
  • #1,979
  • Apr 27, 2010 12:56pm Apr 27, 2010 12:56pm
Quoting Buildcity
Hi Dave,

Enjoy to have you around as your Q&A with Sho did brigthen up the thread.

Cheers,
City
Thanks City, yes I got a lot from those sessions. I think I've now reached a stage where the only way to progress further is practice, practice, practice. I hope all the lessons will eventually sink in but as Sho says, I'm still a baby to the market.
  • #1,980
  • Apr 27, 2010 1:32pm Apr 27, 2010 1:32pm
Quoting francis2
Good to see you dave how do you use the strat tester?
another way I find is to use M1 aswell because the patterns obviously set up quicker and you can scroll through an m1 chart looking at the candle formations
Glad you're still around Francis, you've been one heck of a prolific poster! The trades you post have been invaluable...they do make me feel a little inadequate though.

As for the strategy tester, it's well worth checking out. Here's how I use it:

1. Save your trading screen as a template. MAs etc.
2. From the View menu select "Strategy Tester".
3. Open up a new chart of the currency you want to use.
4. Select the correct currency symbol from the drop down box in the strat tester.
5. Select "Open Prices Only" for the model parameter...I'm only interested in the bars at the end of each 15M period, not the ticks in between.
6. Select "M15" for the period.
7. Ensure "Visual Mode" is checked.
8. Select the date you wish to trade. If you want to trade the 15/04 then select 15/04 for the from date and 16/04 for the to date, otherwise is does nothing.
9. Adjust the speed slider to something like 2 - this gives you time to think.
10. Click the start button and then hit the "||" Pause button straight away.
11. On the chart screen, select the chart template you want to use. If you do this before clicking start then the template is replaced with the default.
12. Click the ">>" Resume button to start practicing.

I watch the bars print and add an up or down icon wherever I see a nice entry bar. When I reach the end of the day I review the entries and see if I can learn something. Simple stuff but effective. I find that when I see a chart with all the bars exposed my mind works quite differently and wishful thinking kicks in...I end up convincing myself I'd take all the nice trades when in reality I probably wouldn't.

Anyway, if you need help with the strat tester just let me know.
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